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Rubicon Water Limited
(Sydney:RWL)
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Rating:55Neutral
Price Target:
AU$0.16
▲(17.14% Upside)
Action:Reiterated
Date:08/26/26
The score is held back mainly by weak financial performance (multi-year losses and margin pressure) and an unfavorable/unclear valuation signal from a negative P/E. These are partially offset by strong technical momentum, with the stock trading above key moving averages and positive MACD/RSI, though momentum is nearing overbought levels.
Positive Factors
Water automation business model
The company addresses a defined infrastructure need through a combination of field hardware and software for measuring, controlling, and automating water delivery. This solution-based model can support ongoing relevance with irrigation operators and water authorities as networks are modernised.
Negative Factors
Persistent losses and margin pressure
Multi-year net losses and negative operating profit show that the current operating model is not consistently producing earnings. The sharp 2026 margin compression, including gross profit near breakeven, weakens confidence in near-term earnings quality and limits reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Water automation business model
The company addresses a defined infrastructure need through a combination of field hardware and software for measuring, controlling, and automating water delivery. This solution-based model can support ongoing relevance with irrigation operators and water authorities as networks are modernised.
Read all positive factors
Rubicon Water Limited (RWL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$39.09M
Dividend YieldN/A
Average Volume (3M)157.58K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth-11.57%
EPS Growth-123.18%
CountryAU
Employees320
SectorUtilities
Sector Strength65
IndustryRegulated Water
Share Statistics
EPS (TTM)-0.06
Shares Outstanding244,338,380
10 Day Avg. Volume127,590
30 Day Avg. Volume157,577
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.31
Price to Sales (P/S)0.25
P/FCF Ratio3.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.36Price Target Upside157.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$89.40M
Rubicon Water Limited Business Overview & Revenue Model
Company Description
Rubicon Water Limited is a global technology company that designs, manufactures, installs, and maintains sophisticated irrigation automation software and hardware. Operating across Australia, New Zealand, Asia, and other international markets, the...
How the Company Makes Money
RWL primarily makes money by selling water management and automation solutions to customers such as irrigation operators, water authorities, and other operators of water distribution networks. Revenue is typically generated through (1) product sal...
Rubicon Water Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
49
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 61.08M | 69.07M | 58.40M | 55.22M | 65.29M |
| Gross Profit | 382.00K | 28.48M | 23.46M | -2.00M | 27.06M |
| EBITDA | -6.29M | -6.82M | -6.45M | -7.99M | 2.28M |
| Net Income | -15.52M | -6.79M | -10.71M | -10.93M | -438.00K |
Balance Sheet | |||||
| Total Assets | 88.78M | 103.94M | 106.40M | 111.58M | 125.81M |
| Cash, Cash Equivalents and Short-Term Investments | 6.45M | 5.51M | 1.69M | 8.49M | 11.23M |
| Total Debt | 24.42M | 23.13M | 37.13M | 30.69M | 29.50M |
| Total Liabilities | 41.06M | 39.98M | 51.54M | 45.78M | 49.66M |
| Stockholders Equity | 48.31M | 64.42M | 55.13M | 65.75M | 75.86M |
Cash Flow | |||||
| Free Cash Flow | 3.87M | 4.70M | -9.13M | -3.92M | -20.48M |
| Operating Cash Flow | 4.49M | 5.45M | -6.95M | -1.36M | -16.81M |
| Investing Cash Flow | -2.90M | -2.44M | -2.10M | -2.60M | -3.38M |
| Financing Cash Flow | 1.55M | 1.04M | 1.28M | 1.09M | 26.18M |
Rubicon Water Limited Technical Analysis
Positive
0.14
Price Trends
0.09
Positive
0.09
Positive
0.13
Positive
Market Momentum
0.02
Positive
65.88
Neutral
51.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RWL, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.09, and above the 200-day MA of 0.13, indicating a bullish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 65.88 is Neutral, neither overbought nor oversold. The STOCH value of 51.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:RWL.
Rubicon Water Limited Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | AU$196.05M | 9.52 | 12.50% | 5.84% | -24.95% | -101.95% | |
55 Neutral | AU$39.09M | -2.48 | -29.29% | ― | -11.57% | -123.18% | |
54 Neutral | AU$64.41M | -30.98 | -22.48% | ― | 70.95% | 44.29% |
* Utilities Sector Average
AU:RWL
Rubicon Water Limited
0.17
>-0.01
-5.71%
AU:CNQ
Clean TeQ Water Ltd
0.72
0.48
200.00%
AU:RIV
Duxton Water Ltd.
1.24
-0.17
-11.93%
Rubicon Water Limited Corporate Events
Rubicon Water issues new shares and lodges cleansing notice to ASX
Sep 1, 2026
Rubicon Water Limited has issued new ordinary shares on 1 September 2026, at the price and on the terms set out in its recent ASX filing, and has confirmed these securities were issued without a formal prospectus under the exemptions provided by t...
Rubicon Water Seeks ASX Quotation for New Employee Share Plan Stock
Sep 1, 2026
Rubicon Water Limited has applied to the Australian Securities Exchange for quotation of 3,543,288 new ordinary fully paid shares issued on 1 September 2026. The securities were allocated to Rubicon Share Scheme Pty Ltd as trustee for the company&...
Rubicon Water Wins Strategic A$1m Irrigation Contract in Southern Italy
Aug 28, 2026
Rubicon Water has secured a A$1 million contract with the irrigation authority Consoriza di Bonifica Tirreno Catanzarese in Calabria, marking its first significant project in Southern Italy. The Canalone project will automate canal regulators and ...
Rubicon Water Files Updated Governance Statement and ASX Appendix 4G
Aug 24, 2026
Rubicon Water Limited has confirmed that its current corporate governance statement for the year to 30 June 2026 is available on its website, detailing how it adheres to ASX Corporate Governance Council principles. The statement, approved by the b...
Rubicon Water Issues Confidential FY26 Results Briefing With Extensive Disclaimers
Aug 24, 2026
Rubicon Water Limited has released a FY26 results presentation intended as a confidential briefing for professional and sophisticated investors. The document emphasises that it is general background information on the company’s automated wat...
Rubicon Water Says Earnings on Track, No Hidden Drivers Behind Share Price Move
Aug 20, 2026
Rubicon Water has responded to an ASX price query by stating it is not aware of any undisclosed information that would explain recent trading in its securities and that its earnings for the year to 30 June 2026 remain in line with previously issue...
Rubicon Water Sets Investor Webinar to Present FY26 Results
Aug 13, 2026
Rubicon Water Limited will hold an investor webinar to discuss its full-year 2026 financial results, with Chief Executive Officer Bruce Rodgerson and Chief Financial Officer Andrew Bendall presenting. The session is scheduled for 10:30 a.m. AEST o...
Australian Ethical exits substantial holder position in Rubicon Water
Aug 11, 2026
Australian Ethical Investment Ltd has lodged a notice stating it has ceased to be a substantial holder in Rubicon Water Limited, with the change effective 7 August 2026. The filing, made in conjunction with State Street Australia Ltd, marks a redu...
Rubicon Water Director Restructures Indirect Shareholdings
Jul 9, 2026
Rubicon Water Limited has disclosed a change in the indirect shareholdings of director Lynda O’Grady, following an internal transfer of her interests. O’Grady moved 421,500 ordinary shares from the O’Grady Family Trust to the O&#...
Rubicon Water Flags Lower FY26 Revenue but Expanding Project Pipeline
Jul 3, 2026
Rubicon Water Limited expects unaudited FY26 revenue of A$60 million to A$62 million, down from A$69 million in FY25, due mainly to delays in major customer procurement and contract award processes that were previously anticipated to contribute to...
Rubicon Water Director Restructures Equity Holdings via Super Fund
Jul 1, 2026
Rubicon Water director David Aughton has adjusted his holdings by transferring 2,000,000 ordinary shares from an indirect holding to his superannuation fund, for total consideration of $116,000. The change does not alter his overall economic expos...
Rubicon Water Discloses Director Rodgerson’s Shareholding Restructure
Jun 30, 2026
Rubicon Water Limited has disclosed a change in the interests of director Bruce Rodgerson, who holds a mix of direct performance rights and indirect ordinary share stakes through family and superannuation trusts. The notice details his existing lo...
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.