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SRG Global Limited
(Sydney:SRG)
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Rating:70Outperform
Price Target:
AU$3.50
â–¼(-9.33% Downside)
Action:Upgraded
Date:08/19/26
The score is driven primarily by strong financial performance (rapid revenue scaling and improving profitability/returns), partially tempered by margin and cash-flow variability. Technicals remain supportive with a clear uptrend, but overbought indicators add short-term risk. A high P/E and modest dividend yield meaningfully constrain the overall rating.
Positive Factors
Strong revenue growth
SRG has materially expanded its revenue base while maintaining positive year-on-year growth, indicating strong demand for its industrial services. Continued scale can improve market position, support operating leverage, and provide a broader platform for recurring maintenance and project work.
Negative Factors
Volatile gross margins
Large swings in gross margin make the durability of SRG’s underlying profitability harder to assess. They may reflect changing project mix or one-off effects, creating uncertainty around normalized earnings and the extent to which recent margin improvement can persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
SRG has materially expanded its revenue base while maintaining positive year-on-year growth, indicating strong demand for its industrial services. Continued scale can improve market position, support operating leverage, and provide a broader platform for recurring maintenance and project work.
Read all positive factors
SRG Global Limited (SRG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.14B
Dividend Yield2.07%
Average Volume (3M)1.99M
Price to Earnings (P/E)29.2
Beta (1Y)0.86
Revenue Growth26.61%
EPS Growth44.44%
CountryAU
Employees4,959
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.12
Shares Outstanding633,367,250
10 Day Avg. Volume2,225,496
30 Day Avg. Volume1,986,483
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)5.27
Price to Sales (P/S)1.47
P/FCF Ratio28.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.52Price Target Upside16.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.16
Revenue Forecast (FY)AU$1.91B
SRG Global Limited Business Overview & Revenue Model
Company Description
SRG Global Limited, an Australian enterprise established in 1961 and based in Subiaco, delivers a comprehensive array of specialized, engineering-driven services on both a national and international scale. The company, which operated as Structural...
How the Company Makes Money
SRG primarily makes money by contracting to deliver industrial services and engineering work for clients that operate and maintain large physical assets (e.g., processing plants, facilities, and infrastructure). Revenue is generated through (1) se...
SRG Global Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
76
Positive
Cash Flow
70
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.68B | 1.32B | 1.07B | 808.99M | 644.24M |
| Gross Profit | 163.53M | 747.63M | 604.25M | 66.22M | 50.48M |
| EBITDA | 163.62M | 119.39M | 95.76M | 73.64M | 56.23M |
| Net Income | 71.92M | 47.48M | 34.44M | 22.56M | 20.13M |
Balance Sheet | |||||
| Total Assets | 1.12B | 855.32M | 640.48M | 620.35M | 497.29M |
| Cash, Cash Equivalents and Short-Term Investments | 144.72M | 111.86M | 73.36M | 47.85M | 59.43M |
| Total Debt | 171.23M | 127.96M | 87.69M | 91.86M | 57.29M |
| Total Liabilities | 647.40M | 462.90M | 335.43M | 329.87M | 262.73M |
| Stockholders Equity | 468.44M | 392.42M | 305.05M | 290.48M | 234.57M |
Cash Flow | |||||
| Free Cash Flow | 85.64M | 66.47M | 66.30M | 11.50M | 40.24M |
| Operating Cash Flow | 126.11M | 94.85M | 93.75M | 43.13M | 61.12M |
| Investing Cash Flow | -87.21M | -119.87M | -25.27M | -102.48M | -33.56M |
| Financing Cash Flow | -6.16M | 63.61M | -42.94M | 47.86M | -14.54M |
SRG Global Limited Technical Analysis
Negative
3.86
Price Trends
3.81
Negative
3.72
Negative
3.28
Positive
Market Momentum
-0.14
Positive
31.12
Neutral
19.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SRG, the sentiment is Negative. The current price of 3.86 is above the 20-day moving average (MA) of 3.70, above the 50-day MA of 3.81, and above the 200-day MA of 3.28, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 31.12 is Neutral, neither overbought nor oversold. The STOCH value of 19.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:SRG.
SRG Global Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$1.22B | 29.00 | 53.12% | 4.06% | 2.95% | 12.85% | |
71 Outperform | AU$2.80B | 22.06 | 22.77% | 3.88% | 29.43% | 50.05% | |
70 Outperform | AU$2.14B | 29.17 | 15.84% | 2.07% | 26.61% | 44.44% | |
67 Neutral | AU$2.76B | 17.81 | 23.03% | 3.85% | 31.39% | 451.49% | |
66 Neutral | AU$824.37M | 15.96 | 9.25% | 3.75% | 11.40% | 22.22% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | AU$4.55B | 21.17 | 11.01% | 4.18% | -7.37% | 59.81% |
* Industrials Sector Average
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SRG Global Limited Corporate Events
SRG Global shareholders back all resolutions at 2026 AGM
Oct 8, 2026
SRG Global reported that all resolutions put to shareholders at its 2026 annual general meeting were passed by poll without amendment, with all discretionary proxies held by the chair voted in favour. The strong support, including approval of remu...
SRG Global Reaffirms Vision as Leading Diversified Infrastructure Services Provider
Oct 8, 2026
SRG Global Limited used its 2026 AGM presentation to reiterate its identity as a diversified infrastructure services business focused on delivering critical services for major industry clients. The company highlighted a strategic vision to become ...
SRG Global hails ASX 200 debut and TAMS acquisition at AGM
Oct 8, 2026
SRG Global used its 2026 Annual General Meeting to highlight its evolution into a leading diversified infrastructure services provider and its recent inclusion in the ASX 200 Index, underscoring its growing scale and market profile. Chair Amber Ba...
State Street Drops Below Substantial Holder Threshold in SRG Global
Oct 7, 2026
State Street Corporation, through various global asset management and custody subsidiaries, has notified SRG Global Limited that it has ceased to be a substantial holder in the company as of 5 October 2026. The notice reflects a reduction in State...
SRG Global Moves AGM Communications Online Ahead of October Meeting
Sep 8, 2026
SRG Global Limited, a major Australian infrastructure services provider, delivers engineering, construction, and maintenance solutions across the entire asset lifecycle through its Maintenance Industrial Services and Engineering Construction div...
SRG Global Sets 2026 AGM to Vote on Board, Pay and Incentive Plan
Sep 8, 2026
SRG Global Limited has convened its annual general meeting for 8 October 2026 in Perth, where shareholders will review financial statements for the year to 30 June 2026 and vote on key governance resolutions, including the non-binding adoption of ...
SRG Global managing director trims stake in personal funding move
Aug 31, 2026
SRG Global has disclosed that its managing director, David Macgeorge, sold 3,525,108 shares in the company to fund a property purchase and meet personal tax obligations. Following the transaction, Macgeorge retains 6,449,426 fully paid ordinary sh...
SRG Global Seeks ASX Quotation for 6.78 Million New Shares
Aug 26, 2026
SRG Global Limited has applied for quotation of 6,775,000 new ordinary fully paid shares on the ASX, with an issue date of 21 August 2026. The application under Appendix 2A reflects the conversion or exercise of existing options or other convertib...
SRG Global Director Roger Lee Boosts Stake via Incentive Plan Vesting
Aug 26, 2026
SRG Global has disclosed a change in director Roger Lee’s interests following the exercise of performance rights under the company’s Long Term Incentive Plan. Through a family trust in which he holds a relevant interest, Lee received 1...
SRG Global Director Increases Stake Through Incentive Plan Vesting
Aug 26, 2026
SRG Global has disclosed a change in the indirect shareholding of director David Macgeorge, held through the Macgeorge Family Trust, following the exercise of performance rights under the company’s long-term incentive plan. Macgeorge’s...
SRG Global Outlines Governance and Risk Management Framework
Aug 17, 2026
SRG Global Limited has released a corporate governance overview outlining the structure and responsibilities of its board and management. The document focuses on how directors are selected, evaluated, and supported, and how board committees and pr...
SRG Global Posts Record FY26 Result and Lifts FY27 Guidance
Aug 17, 2026
SRG Global has reported record financial results for the year to 30 June 2026, with revenue rising 27 per cent to $1.68 billion and underlying EBITDA up 34 per cent to $170.1 million, exceeding its recently upgraded guidance. Strong cash generatio...
SRG Global Releases 2026 Annual Report Detailing Diversified Infrastructure Services Operations
Aug 17, 2026
SRG Global Limited has released its Annual Report for the year ended 30 June 2026, detailing performance and operations across its diversified infrastructure services business. The company’s activities span Maintenance Industrial Services a...
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.