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PWR Holdings
(Sydney:PWH)
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Rating:64Neutral
Price Target:
AU$11.50
▼(-3.12% Downside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by moderate financial performance: strong historical growth and a 2026 rebound are tempered by the weak cash-flow score (free-cash-flow volatility) and higher leverage versus prior years. Technicals add support with a clear uptrend and positive momentum. Offsetting these positives, valuation is demanding (high P/E with a low yield). The earnings call contributes positively due to strong FY'27 growth and margin guidance backed by order-book strength, with acknowledged but manageable operational and FX risks.
Positive Factors
Strong growth and order visibility
High revenue growth combined with a record opening order book provides meaningful forward visibility and supports continued volume expansion. A&D momentum and strong booking levels can help sustain group growth over the next several quarters, reducing reliance on purely speculative demand.
Negative Factors
Foreign-exchange exposure
The high proportion of foreign-currency revenue creates an ongoing sensitivity to exchange-rate movements, which can reduce reported growth and pressure margins even when underlying demand remains healthy. Hedging provides mitigation, but management still expects FX to remain a headwind.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong growth and order visibility
High revenue growth combined with a record opening order book provides meaningful forward visibility and supports continued volume expansion. A&D momentum and strong booking levels can help sustain group growth over the next several quarters, reducing reliance on purely speculative demand.
Read all positive factors
PWR Holdings (PWH) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.10B
Dividend Yield0.46%
Average Volume (3M)287.73K
Price to Earnings (P/E)61.5
Beta (1Y)1.36
Revenue Growth31.23%
EPS Growth83.21%
CountryAU
Employees704
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)0.18
Shares Outstanding100,574,120
10 Day Avg. Volume283,352
30 Day Avg. Volume287,732
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)7.11
Price to Sales (P/S)4.70
P/FCF Ratio61.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$9.99Price Target Upside-15.84% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.22
Revenue Forecast (FY)AU$185.54M
PWR Holdings Business Overview & Revenue Model
Company Description
PWR Holdings Limited is a global specialist in advanced thermal management, overseeing the entire lifecycle from the initial design and prototyping phases through to production, stringent testing, validation, and worldwide distribution of its cool...
How the Company Makes Money
null...
PWR Holdings Earnings Call Summary
Earnings Call Date:Aug 20, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call communicated a strong operational and financial performance with record revenue (+31%) and outsized earnings growth (NPAT +83%), driven by Motorsports (+45%) and accelerating A&D (+31%) with a robust A&D order book and 144% book-to-bill. Cash generation, deleveraging, accreditation wins and targeted investments (Poland, high-temperature materials, R&D +17%) underpin a constructive medium-term growth story. Key challenges highlighted were one-off relocation costs, FX headwinds (~$3.4M unhedged impact), input cost pressures, workforce constraints, and some program timing risk in OEM and start-up costs for Poland. Overall, positives materially outweigh the manageable risks, supporting continued margin expansion guidance and a positive outlook.Positive Updates
Record Group Revenue
Group revenue of $170.7M ($171M rounded), up ~31% year-on-year (31.2%), driven by strong volume across Motorsports and A&D.
Negative Updates
Relocation and One-off Factory Costs
Factory relocation and commissioning constrained output in Q1; incurred ~$800k pre-tax one-off factory costs (generator power) and ongoing higher right-of-use depreciation and occupancy expenses from the new, larger facility.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Group Revenue
Group revenue of $170.7M ($171M rounded), up ~31% year-on-year (31.2%), driven by strong volume across Motorsports and A&D.
Read all positive updates
Company Guidance
The company guided to continued segment-level growth in FY'27 with A&D expected to again grow around 30% (entering FY'27 with a confirmed A&D order book of ~A$40m and a book-to-bill of 144% — A$50.7m orders vs A$35.2m revenue in FY'26, including a U.S. government follow‑on order now ~US$11.9m), Motorsports expected to maintain a higher structural baseline after FY'26 revenue of A$102m, OEM revenue expected to grow ~20%, and Aftermarket to deliver modest growth; group FY'27 revenue growth is expected to be largely driven by A&D. FY'27 capital spend is guided to ~A$14–16m (including an initial ~A$4m Poland investment), with total Poland CapEx ~A$16m over four years; Poland start‑up costs are expected to reduce statutory NPAT by <A$1m in FY'27. The margin trajectory assumes circa a 2 percentage‑point improvement in statutory NPAT margin in FY'27 (inclusive of Poland) and a medium‑term recovery toward the FY'24 reference NPAT margin of 17.8% across FY'28–FY'30. The business expects FX to remain a headwind (unhedged FY'27 impact ~A$3.4m) but has hedges in place (GBP17.3m, USD5m); balance‑sheet flexibility (net debt ~A$5.6m, unused facilities ~A$30m) and FY'27 operating leverage are expected to support the stated growth and margin objectives.PWR Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
45
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 170.73M | 130.10M | 139.39M | 118.33M | 101.07M |
| Gross Profit | 43.34M | 102.51M | 111.51M | 38.91M | 34.10M |
| EBITDA | 38.56M | 26.13M | 45.56M | 39.25M | 35.92M |
| Net Income | 17.89M | 9.77M | 24.80M | 21.75M | 20.84M |
Balance Sheet | |||||
| Total Assets | 224.00M | 189.05M | 139.42M | 123.16M | 98.53M |
| Cash, Cash Equivalents and Short-Term Investments | 7.32M | 4.45M | 21.66M | 17.63M | 21.50M |
| Total Debt | 60.24M | 61.10M | 15.87M | 18.29M | 6.74M |
| Total Liabilities | 111.25M | 88.11M | 39.13M | 34.69M | 22.13M |
| Stockholders Equity | 112.75M | 100.94M | 100.29M | 88.47M | 76.40M |
Cash Flow | |||||
| Free Cash Flow | 12.98M | -15.34M | 20.56M | 12.80M | 12.04M |
| Operating Cash Flow | 36.96M | 25.23M | 32.85M | 27.85M | 17.06M |
| Investing Cash Flow | -26.38M | -40.26M | -11.80M | -17.05M | -3.87M |
| Financing Cash Flow | -7.70M | -2.18M | -17.02M | -14.64M | -11.54M |
PWR Holdings Technical Analysis
Positive
11.87
Price Trends
10.16
Positive
9.48
Positive
9.17
Positive
Market Momentum
0.28
Positive
50.17
Neutral
7.98
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PWH, the sentiment is Positive. The current price of 11.87 is above the 20-day moving average (MA) of 11.17, above the 50-day MA of 10.16, and above the 200-day MA of 9.17, indicating a neutral trend. The MACD of 0.28 indicates Positive momentum. The RSI at 50.17 is Neutral, neither overbought nor oversold. The STOCH value of 7.98 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PWH.
PWR Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$1.58B | 16.46 | 12.52% | 6.29% | -3.83% | -5.92% | |
71 Outperform | AU$51.74M | 23.15 | 16.84% | ― | 22.73% | 15.22% | |
64 Neutral | AU$1.10B | 61.54 | 16.37% | 0.46% | 31.23% | 83.21% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | AU$272.34M | 39.64 | 2.93% | 0.91% | 2.46% | ― | |
45 Neutral | AU$32.70M | -2.80 | -18.29% | 5.36% | -17.25% | 74.53% | |
42 Neutral | AU$43.50M | -7.65 | 183.80% | ― | 129.41% | 21.30% |
* Consumer Cyclical Sector Average
AU:PWH
PWR Holdings
10.92
2.54
30.25%
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PWR Holdings Corporate Events
ECP Asset Management Ceases to Be Substantial Holder in PWR Holdings
Sep 8, 2026
ECP Asset Management Pty Ltd, together with EC Pohl Co Pty Ltd and related holders, has notified PWR Holdings Limited that it has ceased to be a substantial holder in the company as of 4 September 2024. The change reflects a reduction in their re...
PWR Director Kees Weel Updates Indirect Equity Interests After Performance Rights Lapse
Sep 8, 2026
PWR Holdings has disclosed a change in director Kees Weel’s indirect interests, following the lapse of a portion of his performance rights. The update, lodged with the ASX, shows 78,436 performance rights held through Lazy Weel Pty Ltd as tr...
PWR Holdings Updates Director Matthew Bryson’s Equity Interests
Sep 8, 2026
PWR Holdings has reported a change in the interests of director Matthew Bryson, reflecting an adjustment in his performance-based equity holdings. The disclosure details his direct and indirect holdings of ordinary shares and performance rights, p...
PWR Holdings Reports Lapse of 203,728 Performance Rights
Sep 3, 2026
PWR Holdings Limited has notified the market that 203,728 performance rights, trading under the ASX code PWHAA, have lapsed. The rights ceased on 1 September 2026 after the conditions attached to them were not met or became incapable of being sati...
PWR Executive Director Sells Portion of Stake but Retains Significant Holding
Aug 27, 2026
PWR Holdings has disclosed a change in Executive Director Matthew Bryson’s relevant interests in the company’s securities, following the sale of a portion of his shareholding for personal financial diversification. The transaction, wor...
PWR director Susan Forrester lifts indirect stake via on-market share purchase
Aug 26, 2026
PWR Holdings has disclosed a change in the shareholding of non-executive director Susan Forrester, reflecting an increase in her indirect interest in the company. The update, lodged under ASX rules, details an on-market purchase executed through t...
State Street Units Exit Substantial Holder Position in PWR Holdings
Aug 20, 2026
PWR Holdings has received a notice from State Street Corporation subsidiaries, including SSGA Funds Management and State Street Global Advisors entities, that they have ceased to be a substantial holder in the company as of 18 August 2026. The cha...
PWR Holdings Declares Interim Dividend of AUD 0.05 Per Share
Aug 20, 2026
PWR Holdings Limited has declared a dividend on its ordinary fully paid shares, reflecting its latest six‑month financial period ended 30 June 2026. The announcement underscores the company’s continued use of shareholder returns as par...
PWR Holdings Files FY26 Corporate Governance Statement With ASX
Aug 20, 2026
PWR Holdings has lodged its FY26 Corporate Governance Statement and Appendix 4G with the Australian Securities Exchange, fulfilling key disclosure obligations under the ASX Listing Rules. The release underscores the board’s focus on governan...
PWR Holdings Lodges FY26 Full-Year Results Presentation
Aug 20, 2026
PWR Holdings has released its FY26 full-year results presentation to the Australian Securities Exchange, signalling completion of its latest reporting cycle. The announcement, authorised by the board, underscores ongoing transparency to investors ...
PWR Holdings boosts FY26 profit, lifts dividends as margins expand
Aug 20, 2026
PWR Holdings Limited has reported a strong financial performance for the year ended 30 June 2026, with group revenue rising 31.2% to A$170.7 million and statutory net profit after tax jumping 83.2% to A$17.9 million. EBITDA increased to A$40.7 mil...
PWR Holdings Sets Date for FY26 Results and Investor Webcast
Aug 13, 2026
PWR Holdings has announced it will release its FY26 full-year financial results on 20 August 2026, after the market closes, with a detailed investor presentation to follow via webcast the next morning. The briefing, led by Managing Director and CE...
PWR Holdings Appoints New Director with Significant Equity Stake
Jul 1, 2026
PWR Holdings Limited has appointed Matthew Ross Bryson as a director effective 1 July 2026, and disclosed his initial interests in the company’s securities in line with ASX listing requirements. The filing details his direct holdings of ordi...
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.