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Peoplein Limited
(Sydney:PPE)
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Rating:49Neutral
Price Target:
AU$0.59
▼(-14.20% Downside)
Action:Reiterated
Date:09/06/26
The score is held back primarily by deteriorating financial performance (multi-year revenue declines and two loss-making years) and weak technical trends (below major moving averages with negative MACD). Positive free cash flow and reduced debt provide some resilience, and the earnings call outlined credible margin/pricing improvement and infrastructure-driven demand tailwinds, but these are not yet fully reflected in reported earnings.
Positive Factors
Queensland infrastructure exposure and staffing position
Large infrastructure investment and a projected shortage of engineers and construction workers create a durable demand opportunity for PeopleIN's workforce services. Its strong Queensland exposure, established brands, and infrastructure expertise could support recurring placement volumes through the next several years.
Negative Factors
Persistent revenue contraction and recent losses
Three consecutive years of revenue decline and losses indicate that the business has not yet restored durable earnings momentum. Near-breakeven operating profitability leaves limited protection against further demand weakness, while ongoing losses can constrain reinvestment and weaken financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Queensland infrastructure exposure and staffing position
Large infrastructure investment and a projected shortage of engineers and construction workers create a durable demand opportunity for PeopleIN's workforce services. Its strong Queensland exposure, established brands, and infrastructure expertise could support recurring placement volumes through the next several years.
Read all positive factors
Peoplein Limited (PPE) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$65.12M
Dividend Yield9.71%
Average Volume (3M)58.57K
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth-28.17%
EPS Growth27.32%
CountryAU
Employees400
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)-0.09
Shares Outstanding109,449,650
10 Day Avg. Volume105,756
30 Day Avg. Volume58,566
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)0.72
Price to Sales (P/S)0.09
P/FCF Ratio9.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.02Price Target Upside48.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.1
Revenue Forecast (FY)AU$1.03B
Peoplein Limited Business Overview & Revenue Model
Company Description
Peoplein Limited, together with its subsidiaries, provides staffing, business, and operational services in Australia, New Zealand, and Singapore. It operates in three segments: Industrial and Specialist Services, Professional Services, and Health ...
How the Company Makes Money
Peoplein Limited makes money primarily by charging fees for supplying and managing labour and service delivery across its operating divisions. Key revenue streams typically include: (1) contingent labour / labour hire: Peoplein invoices clients fo...
Peoplein Limited Earnings Call Summary
Earnings Call Date:Aug 30, 2026
(Q4-2026)
| Next Earnings Date:Feb 25, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. Management highlighted second-half acceleration, robust engineering and trades growth, improving permanent recruitment, strong cash conversion, lower leverage, successful Infrawork integration and significant Queensland infrastructure opportunities. These positives outweighed the explicitly acknowledged challenges in food and agriculture, lower full-year revenue, weaker professional services EBITDA, PALM-related pressure and seasonal softness.Positive Updates
Improved Pricing, Workforce Utilization and Net Revenue Margin
Billing rates increased 9.4% and hours increased 6.3%. PeopleIN delivered a net revenue margin of 18.6%, which management said was over 50% higher than its competitors, with room for further improvement.
Negative Updates
Full-Year Revenue Decline
Revenue from ongoing operations declined 4.3% to AUD 788.7 million for FY 2026, although it was essentially flat in the second half compared with the prior corresponding period.
Read all updates
Q4-2026 Updates
Positive
Negative
Improved Pricing, Workforce Utilization and Net Revenue Margin
Billing rates increased 9.4% and hours increased 6.3%. PeopleIN delivered a net revenue margin of 18.6%, which management said was over 50% higher than its competitors, with room for further improvement.
Read all positive updates
Company Guidance
Management said PeopleIN is “efficient going into FY 2027,” expects “continued” improvements in pricing and margins into FY 2027, and is “continuing to aim for higher” than the 18.6% net revenue margin; cash conversion focus remains the 80%-90% conversion ratio. The Queensland infrastructure opportunity is described as a AUD 119 billion pipeline, with demand expected to “accelerate from this year” and “peak between year 2029 and financial year 2030”; infrastructure around the Olympics will be “definitely” in the second half of this year, while private construction projects need to be out of the ground by mid-financial year 2027. About 51% of total revenue comes from Queensland and 60% of engineering trades and labor revenue, while the state is expected to face a shortfall of more than 50,000 engineers and construction workers, with PeopleIN positioned as a workforce engine through to 2032. Professional services has started FY 2027 ahead of expectations, and in food and agriculture management does not see any change in the next six months, expects stock to hit the market in around six months' time, and was hoping the change pushes through December forward.Peoplein Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
54
Neutral
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 788.65M | 1.10B | 1.17B | 1.18B | 679.17M |
| Gross Profit | 775.72M | 1.08B | 71.24M | 86.32M | 63.37M |
| EBITDA | 12.98M | 13.58M | 32.84M | 52.64M | 39.74M |
| Net Income | -9.33M | -12.76M | 4.67M | 18.94M | 17.67M |
Balance Sheet | |||||
| Total Assets | 285.30M | 348.58M | 391.28M | 417.57M | 377.54M |
| Cash, Cash Equivalents and Short-Term Investments | 35.74M | 32.83M | 37.29M | 39.87M | 26.98M |
| Total Debt | 83.74M | 112.15M | 141.37M | 113.06M | 111.54M |
| Total Liabilities | 182.66M | 197.08M | 231.25M | 257.57M | 235.18M |
| Stockholders Equity | 102.64M | 147.59M | 156.57M | 156.59M | 139.76M |
Cash Flow | |||||
| Free Cash Flow | 7.76M | 33.19M | -9.86M | 55.42M | 17.71M |
| Operating Cash Flow | 11.23M | 34.87M | -3.58M | 64.52M | 22.20M |
| Investing Cash Flow | 14.99M | -5.75M | -14.99M | -21.26M | -54.48M |
| Financing Cash Flow | -23.13M | -33.77M | 15.91M | -30.50M | 45.55M |
Peoplein Limited Technical Analysis
Negative
0.69
Price Trends
0.69
Negative
0.65
Negative
0.70
Negative
Market Momentum
-0.02
Positive
27.69
Positive
26.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PPE, the sentiment is Negative. The current price of 0.69 is above the 20-day moving average (MA) of 0.67, below the 50-day MA of 0.69, and below the 200-day MA of 0.70, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 27.69 is Positive, neither overbought nor oversold. The STOCH value of 26.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PPE.
Peoplein Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$1.59B | 17.69 | 29.94% | 4.22% | 10.49% | 5.31% | |
68 Neutral | AU$41.60M | 6.50 | 17.94% | 9.11% | 16.72% | 186.09% | |
67 Neutral | AU$4.94B | -13.32 | -16.48% | 3.75% | 17.06% | -251.25% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | AU$1.40B | 13.17 | 88.76% | 6.62% | 7.71% | 11.40% | |
50 Neutral | AU$8.22M | -12.19 | -39.38% | ― | 8.65% | 55.56% | |
49 Neutral | AU$65.12M | -6.78 | -8.44% | 9.71% | -28.17% | 27.32% |
* Industrials Sector Average
AU:PPE
Peoplein Limited
0.60
-0.15
-19.59%
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AU:ASH
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Peoplein Limited Corporate Events
PeopleIN Files 2026 Corporate Governance Statement and Appendix 4G
Aug 31, 2026
PeopleIN Limited has lodged its Appendix 4G and corporate governance statement for the year ended 30 June 2026, confirming compliance with ASX Listing Rule requirements on governance reporting. The statement, current as of 31 August 2026 and appro...
PeopleIN Returns to Growth as Infrastructure-Focused Strategy Lifts Earnings
Aug 30, 2026
PeopleIN reported FY26 revenue of $788.7 million, down 4.3 per cent after divesting non-core businesses, but delivered growth in net revenue to $101.9 million and ongoing normalised EBITDA to $19.0 million, underscoring improved earnings quality i...
PeopleIN Sets FY26 Full-Year Results Briefing for 31 August
Aug 11, 2026
PeopleIN Limited has announced that it will release its full year FY26 financial results to the market on Monday, 31 August 2026, underscoring its commitment to timely disclosure and stakeholder communication. The company will accompany the releas...
Peoplein Limited Options Lapse, Streamlining Capital Structure
Jul 21, 2026
Peoplein Limited has notified the ASX of the cessation of 343,170 options, designated as PPEAA and expiring at various dates with an exercise price of $1.00, which lapsed unexercised on July 13, 2026. The expiry of these options without conversion...
Peoplein Continues On-Market Share Buy-Back Program
Jun 23, 2026
Peoplein Limited has provided an updated notification to the ASX confirming ongoing on-market buy-backs of its ordinary fully paid shares under an existing program first announced in August 2025. The latest daily disclosure shows that the company ...
Peoplein Updates Daily On-Market Share Buy-Back Activity
Jun 22, 2026
Peoplein Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares under the code PPE. The update, dated 23 June 2026, confirms the buy-back is continuing as p...
Peoplein continues on-market buy-back with latest daily share repurchase update
Jun 21, 2026
Peoplein Limited has updated the market on its ongoing on-market share buy-back program for ordinary fully paid shares, disclosing that a total of 8,577,460 securities had been repurchased prior to the latest trading day and a further 29,337 share...
Peoplein Continues On-Market Share Buy-Back with Daily ASX Update
Jun 18, 2026
Peoplein Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The latest daily update states that the total number of shares repurchased has reached 8,566,022 prior t...
Peoplein Updates Market on Progress of On-Market Share Buy-Back
Jun 17, 2026
Peoplein Limited has been conducting an on-market buy-back of its ordinary fully paid shares on the ASX, with a total of 8,540,822 securities repurchased prior to the latest update. The company reported that it bought back a further 25,200 shares ...
Peoplein Continues On-Market Share Buy-Back Program
Jun 9, 2026
Peoplein Limited has disclosed an update to its ongoing on-market share buy-back program, confirming that it is repurchasing its ordinary fully paid shares listed on the ASX under the code PPE. The latest notification states the buy-back was initi...
Peoplein Updates Market on Progress of On‑Market Share Buy‑Back
Jun 8, 2026
Peoplein Limited has been conducting an on‑market share buy‑back of its ordinary fully paid shares, as disclosed in its updated Appendix 3C filing. The company reported that a total of 7,884,702 shares had been repurchased before the p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.