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Perenti Global
(Sydney:PRN)
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Rating:65Neutral
Price Target:
AU$2.00
▼(-15.97% Downside)
Action:Reiterated
Date:09/30/26
The score is driven primarily by solid but not exceptional financial performance (improving profitability and balance sheet strength tempered by recent softness and volatile free cash flow) and a supportive earnings-call outlook (strong cash conversion, work-in-hand, and FY-27 guidance). Technicals are modestly positive, while valuation is a drag due to a relatively high P/E despite a moderate dividend yield.
Positive Factors
Contract Backlog and Pipeline
Substantial work in hand provides multi-period revenue visibility, while the large tender pipeline creates opportunities to replenish contracts and expand activity. Rising copper opportunities and geographic breadth can support durable growth beyond individual project completions.
Negative Factors
Slowing Revenue and Earnings
Recent top-line softness and lower net income show that the multi-year recovery has not yet produced consistently accelerating earnings. Weaker project activity or completed contracts could limit operating leverage and make near-term results more dependent on execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract Backlog and Pipeline
Substantial work in hand provides multi-period revenue visibility, while the large tender pipeline creates opportunities to replenish contracts and expand activity. Rising copper opportunities and geographic breadth can support durable growth beyond individual project completions.
Read all positive factors
Perenti Global (PRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.88B
Dividend Yield3.81%
Average Volume (3M)2.02M
Price to Earnings (P/E)22.3
Beta (1Y)1.32
Revenue Growth-4.34%
EPS Growth-31.42%
CountryAU
Employees10,000
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.09
Shares Outstanding932,852,500
10 Day Avg. Volume1,770,765
30 Day Avg. Volume2,018,165
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)1.19
Price to Sales (P/S)0.63
P/FCF Ratio22.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.82Price Target Upside18.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.21
Revenue Forecast (FY)AU$3.52B
Perenti Global Business Overview & Revenue Model
Company Description
Perenti Limited operates as a mining services company worldwide. The company operates through Contract Mining, Drilling Services, and Mining and Technology Services segments. It offers underground and surface contract mining, exploration drilling,...
How the Company Makes Money
Perenti makes money primarily by contracting with mine owners (resource companies) to deliver defined scopes of work over agreed terms, earning revenue as it performs mining and mining-support services. Its key revenue streams are (1) underground ...
Perenti Global Earnings Call Summary
Earnings Call Date:Aug 23, 2026
(Q4-2026)
| Next Earnings Date:Feb 23, 2027
Earnings Call Sentiment Positive
The call emphasized multiple financial and operational strengths: record adjusted EBIT(A), improved margins, strong free cash flow and an exceptionally strong balance sheet with reduced leverage and high liquidity. Operational momentum was highlighted across Contract Mining and Drilling Services, supported by sizable work-in-hand ($6.2B) and a $20B pipeline, plus material contract wins (Bellevue, Fourmile). Key challenges include flat reported revenue, notable non-cash impairments and one-off statutory adjustments (including a $64.4M revaluation loss on BTP), timing risk around asset-sale proceeds, and some near-term margin headwinds in drilling and from portfolio transition. Overall, the positive earnings quality, cash generation and balance sheet strength materially outweigh the lowlights tied largely to accounting adjustments and timing risks.Positive Updates
Record EBIT(A) and Improved Margin
Record EBIT(A) of $340 million, up 2% year-on-year, with EBIT(A) margin increasing to 9.8% on broadly flat revenue (~$3.46 billion).
Negative Updates
Flat Revenue
Revenue was broadly flat year-on-year at $3.46 billion despite portfolio shifts, with the completion of large projects (e.g., Botswana underground) reducing top-line growth in FY '26.
Read all updates
Q4-2026 Updates
Positive
Negative
Record EBIT(A) and Improved Margin
Record EBIT(A) of $340 million, up 2% year-on-year, with EBIT(A) margin increasing to 9.8% on broadly flat revenue (~$3.46 billion).
Read all positive updates
Company Guidance
Perenti guided FY‑27 revenue of $3.45–3.65 billion and EBIT(A) of $335–355 million, with net capital expenditure of ~$370 million (including Bellevue and Fourmile), and reiterated that earnings will remain second‑half weighted; the guidance reflects the announced BTP divestment and portfolio actions expected to recycle ~$140–155 million (BTP $100m, Iduapriem $30–40m, idle AMS fleet $10–15m) — ~ $150m in total — to fund higher‑return opportunities. Work in hand is $6.2 billion with a $20 billion tender pipeline (Australia $8.6bn, North America $6.4bn), the copper pipeline has nearly doubled to $6.6bn (from $3.5bn), drilling utilization is expected to rise from ~70% in FY‑26 to the mid‑70s in FY‑27, idoba product costs are guided to be < $5m, CRI amortization ~ $15m and the effective tax rate is expected to increase to ~34%. Management also reconfirmed long‑term targets of 5–10% revenue growth, EPS growth above revenue growth, ROE >10%, free cash flow >5% of revenue, and a dividend policy of 30–40% of underlying NPAT(A).Perenti Global Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.34B | 3.49B | 3.34B | 2.88B | 2.44B |
| Gross Profit | 664.41M | 2.46B | 596.31M | 504.44M | 385.99M |
| EBITDA | 615.40M | 667.68M | 625.33M | 545.18M | 405.80M |
| Net Income | 83.12M | 120.61M | 95.48M | 95.74M | 40.66M |
Balance Sheet | |||||
| Total Assets | 3.22B | 3.33B | 3.36B | 2.87B | 2.84B |
| Cash, Cash Equivalents and Short-Term Investments | 322.52M | 481.32M | 459.14M | 307.36M | 348.52M |
| Total Debt | 571.31M | 786.04M | 928.60M | 806.36M | 901.86M |
| Total Liabilities | 1.39B | 1.46B | 1.57B | 1.44B | 1.51B |
| Stockholders Equity | 1.77B | 1.83B | 1.76B | 1.41B | 1.31B |
Cash Flow | |||||
| Free Cash Flow | 95.27M | 199.65M | 152.64M | 24.20M | -126.64M |
| Operating Cash Flow | 444.00M | 510.10M | 487.79M | 398.12M | 341.30M |
| Investing Cash Flow | -310.14M | -223.92M | -382.73M | -275.29M | -311.83M |
| Financing Cash Flow | -288.39M | -271.41M | 52.85M | -173.13M | 48.82M |
Perenti Global Technical Analysis
Negative
2.38
Price Trends
2.19
Negative
2.18
Negative
2.20
Negative
Market Momentum
-0.05
Positive
36.71
Neutral
22.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PRN, the sentiment is Negative. The current price of 2.38 is above the 20-day moving average (MA) of 2.13, above the 50-day MA of 2.19, and above the 200-day MA of 2.20, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 36.71 is Neutral, neither overbought nor oversold. The STOCH value of 22.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PRN.
Perenti Global Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$127.47M | 8.37 | 22.10% | 10.00% | 5.48% | 2772.00% | |
69 Neutral | AU$2.16B | 21.56 | 13.86% | 2.10% | 7.90% | 35.92% | |
65 Neutral | AU$1.88B | 22.35 | 4.58% | 3.81% | -4.34% | -31.42% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | AU$1.32B | 157.37 | 1.25% | ― | 67.86% | -90.61% |
* Basic Materials Sector Average
AU:PRN
Perenti Global
1.97
-0.70
-26.11%
AU:MAH
Macmahon Holdings Limited
1.02
0.55
119.70%
AU:DVP
Develop Global Limited
3.99
-0.12
-2.92%
AU:MSV
Mitchell Services Limited
0.61
0.32
108.19%
Perenti Global Corporate Events
Perenti Continues On-Market Share Buy-Back Program
Oct 22, 2026
Perenti Limited has issued an update announcing progress under its on-market share buy-back program for ordinary fully paid shares traded under the PRN ticker on the ASX. The notice confirms that, as at 22 October 2026, the company continues to ac...
Perenti Updates Market on Progress of On-Market Share Buy-Back
Oct 21, 2026
Perenti Limited has issued an updated notification to the ASX confirming ongoing on-market buy-back activity in its ordinary fully paid shares under a program first disclosed on 23 August 2026. The latest daily update, dated 21 October 2026, repor...
Perenti Corrects Figures in Ongoing On-Market Share Buy-Back Update
Oct 19, 2026
Perenti Limited has issued an updated daily notification for its ongoing on-market share buy-back, confirming that a total of 2,682,591 shares had been repurchased prior to the previous day, with an additional 244,545 shares bought back on the pre...
Perenti Reports Lapse of Conditional Equity Rights
Oct 19, 2026
Perenti Limited has notified the market of a cessation of certain securities, specifically the lapse of 253,617 conditional rights attached to its PRNAC securities. These rights have expired because the conditions required for their vesting were n...
Perenti Updates Market on Progress of On-Market Share Buy-Back
Oct 14, 2026
Perenti Limited has issued an updated notice to the ASX confirming ongoing on-market share buy-back activity in its ordinary fully paid shares. The company reported that a total of 1,947,912 shares had been repurchased before the previous trading ...
Perenti Cancels 406,034 Shares in On-Market Buy-Back
Oct 13, 2026
Perenti Limited has notified the cessation of 406,034 ordinary fully paid shares following their cancellation under an on-market buy-back completed on October 12, 2026. The reduction in issued capital reflects the company’s ongoing use of bu...
Perenti Continues On-Market Share Buy-Back Program
Sep 29, 2026
Perenti Limited, listed on the ASX under the code PRN, is undertaking active capital management through its ordinary fully paid shares. The company uses on-market buy-backs as part of its strategy to manage its equity base and support its capital ...
Perenti Wins Over A$200m in New Drilling and Underground Mining Contracts
Sep 28, 2026
Perenti’s drilling divisions Ausdrill, DDH1 Drilling, Ranger Drilling, Swick Mining Services and Strike Drilling have secured multiple new contracts in Australia, the U.S. and Canada, expected to generate about A$185 million in revenue in FY...
Perenti Issues Daily Update on Ongoing On-Market Share Buy-Back
Sep 22, 2026
Perenti Limited has issued an updated notification regarding its on-market share buy-back program for its ordinary fully paid shares trading under the ASX code PRN. The update, dated 22 September 2026, reports that a total of 1,678,462 shares had ...
Perenti Confirms Lapse of 3.95 Million Conditional Rights
Sep 21, 2026
Perenti Limited has notified the market of the cessation of 3,951,238 rights securities (PRNAC) following their lapse. The conditional rights, which formed part of the company’s issued capital structure, have expired because the conditions a...
Perenti Issues 3.57 Million New Shares Following Option Conversions
Sep 21, 2026
Perenti Limited has notified the Australian Securities Exchange of the issue and transfer of 3,574,317 ordinary fully paid shares. The new securities arise from the exercise or conversion of previously unquoted options or other unquoted convertibl...
Perenti cancels 1.54 million shares under on‑market buy‑back
Sep 18, 2026
Perenti Limited has cancelled 1,541,878 ordinary fully paid shares as part of an on‑market share buy‑back program, according to a notification of cessation of securities lodged with the ASX. The reduction in issued capital reflects the...
Perenti Advances On-Market Share Buy-Back With Daily ASX Update
Sep 17, 2026
Perenti Limited has continued its on-market share buy-back program, providing an updated notification to the ASX dated 17 September 2026. The latest filing reports that the company repurchased 136,584 ordinary fully paid shares on the previous tra...
Perenti Continues On-Market Share Buy-Back With Daily ASX Update
Sep 15, 2026
Perenti Limited has provided an updated notification to the Australian Securities Exchange regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The announcement confirms that the company bought back a total of 1,4...
Perenti director Vincent Nicoletti acquires initial 125,000-share stake
Sep 11, 2026
Perenti Limited has disclosed a change in director’s interests following an on-market purchase of company shares by director Vincent Nicoletti on 11 September 2026. Nicoletti acquired 125,000 ordinary fully paid shares for a total considerat...
Perenti Sets October Date and Hybrid Format for 2026 AGM
Sep 11, 2026
Perenti Limited has convened its 2026 Annual General Meeting of shareholders for 10.30am AWST on Friday, 16 October 2026, at the Parmelia Hilton Hotel in Perth. Shareholders can attend in person or participate online with live viewing, real-time v...
Perenti sets hybrid 2026 AGM to boost shareholder participation
Sep 11, 2026
Perenti has invited shareholders to attend its 2026 Annual General Meeting, scheduled for 16 October 2026 at 10.30am AWST, which will be conducted as a hybrid event online and at the Parmelia Hilton in Perth. The company is emphasising safety and ...
Perenti Updates ASX on Progress of On-Market Share Buy-Back
Sep 10, 2026
Perenti Limited has issued an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares under the code PRN. The update, dated 10 September 2026, reports that a total of 996,366 shares had...
Perenti Updates Daily On‑Market Share Buy‑Back Activity
Sep 8, 2026
Perenti Limited, a mining services provider listed on the ASX, operates through a suite of contracting and support businesses that service resource projects globally. Its primary activities involve delivering operational mining solutions, position...
Perenti Updates ASX on Progress of On-Market Share Buy-Back
Sep 7, 2026
Perenti Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The company reported that a total of 512,399 shares had been repurchased prior to the previous t...
Perenti Provides Daily Update on Ongoing On-Market Share Buy-Back
Sep 4, 2026
Perenti Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company disclosed that a total of 336,720 shares had been repurchased before the previou...
Perenti Details Ongoing On-Market Share Buy-Back Activity
Aug 26, 2026
Perenti Limited has issued an update announcing daily activity under its on-market share buy-back program for its ordinary fully paid shares. The company reported a cumulative 167,465 shares repurchased prior to the previous trading day and a furt...
Perenti Details Early Progress of On-Market Share Buy-Back
Aug 25, 2026
Perenti Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The update, dated 25 August 2026, confirms that 167,465 shares were repurchased on the previous ...
Perenti outlines FY26 results and clarifies basis of financial disclosures
Aug 23, 2026
Perenti Limited has released a FY26 results presentation summarising its operations and financial performance for investors, while emphasising that the document is informational only and not an offer of securities. The company highlights the use o...
Perenti Files Updated Corporate Governance Statement with ASX
Aug 23, 2026
Perenti Limited has lodged its corporate governance statement and accompanying Appendix 4G with the ASX for the year ended 30 June 2026, confirming compliance with the ASX Corporate Governance Council’s key principles. The statement, current...
Perenti Declares Interim Dividend for June 2026 Half-Year
Aug 23, 2026
Perenti Limited has declared an interim dividend of AUD 0.045 per ordinary fully paid share for the six-month period ended 30 June 2026. The ASX-listed mining services group continues its practice of returning capital to shareholders, reinforcing ...
Perenti’s Statutory Profit Slumps on Discontinued Operations as Core Earnings and Dividend Edge Higher
Aug 23, 2026
Perenti has reported largely flat revenue from continuing activities for the year to 30 June 2026, with a slight 0.4% decline to A$3.34 billion and a marked deterioration in statutory profitability driven by discontinued operations. Profit from co...
Perenti Announces On‑Market Share Buy‑Back of Ordinary Shares
Aug 23, 2026
Perenti Limited has notified the market of a new on‑market share buy‑back, targeting its ordinary fully paid shares trading under the ASX code PRN. The program reflects capital management initiatives that can signal confidence in the c...
Perenti to Unveil FY26 Results in Investor Teleconference on 24 August
Aug 18, 2026
Perenti Limited has scheduled the release of its financial results for the year ended 30 June 2026 for Monday, 24 August 2026. The ASX-listed mining services group will accompany the announcement with a teleconference and question-and-answer sessi...
Perenti Sets October 2026 AGM Date and Director Nomination Deadline
Aug 17, 2026
Perenti Limited has scheduled its next Annual General Meeting for 16 October 2026, in line with ASX Listing Rule 3.13.1, with a key agenda item being the re-election of directors. The company has set 26 August 2026 as the deadline for director nom...
Perenti trims potential equity overhang as 1.76m conditional rights lapse
Jul 24, 2026
Perenti Limited has notified the market that 1,764,508 conditional rights to securities, designated as PRNAC, have lapsed after the conditions attached to those rights were not satisfied by 20 July 2026. The cessation of these rights slightly redu...
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.