ALS Ltd. (AU:ALQ)
ASX:ALQ
Want to see AU:ALQ full AI Analyst Report?
Top Page
ALS
(Sydney:ALQ)
Select Model
Select Model
Rating:67Neutral
Price Target:
AU$23.50
â–²(6.14% Upside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by solid fundamentals—steady revenue growth, resilient operating margins, improving leverage, and positive free cash flow—tempered by past earnings volatility and uneven cash conversion. Technically, indicators are neutral-to-mildly positive, while valuation is the main constraint due to a high P/E with only a modest dividend yield.
Positive Factors
Consistent revenue growth
ALS’s steady top‑line expansion across 2022–2026 reflects durable demand for testing and inspection services and gradual market share or pricing improvement. Consistent revenue supports long‑term capacity utilization, contract renewal economics and predictable fee income over the next 2–6 months.
Negative Factors
Earnings volatility
A pronounced net‑margin collapse in 2024 highlights exposure to large one‑offs or below‑the‑line shocks that impair earnings quality. Such volatility weakens forecasting confidence, can delay balance‑sheet repair and complicates capital allocation decisions over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
ALS’s steady top‑line expansion across 2022–2026 reflects durable demand for testing and inspection services and gradual market share or pricing improvement. Consistent revenue supports long‑term capacity utilization, contract renewal economics and predictable fee income over the next 2–6 months.
Read all positive factors
ALS (ALQ) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$12.04B
Dividend Yield1.75%
Average Volume (3M)1.43M
Price to Earnings (P/E)37.7
Beta (1Y)1.29
Revenue Growth10.69%
EPS Growth19.77%
CountryAU
Employees19,565
SectorIndustrials
Sector Strength72
IndustryConsulting Services
Share Statistics
EPS (TTM)0.63
Shares Outstanding507,542,540
10 Day Avg. Volume1,514,219
30 Day Avg. Volume1,429,263
Financial Highlights & Ratios
PEG Ratio1.29
Price to Book (P/B)5.93
Price to Sales (P/S)3.04
P/FCF Ratio43.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$23.91Price Target Upside8.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.89
Revenue Forecast (FY)AU$3.61B
ALS Business Overview & Revenue Model
Company Description
ALS Limited provides professional technical services primarily in the areas of testing, measurement, and inspection in Africa, Asia/Pacific, Europe, the Middle East, North Africa, and the Americas. The company operates through three segments: Life...
How the Company Makes Money
ALS makes money by charging fees for testing and analytical services delivered through its laboratory network and field operations. Revenue is primarily generated from (1) laboratory and on-site testing services for resource/commodities customers—...
ALS Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.32B | 3.00B | 2.46B | 2.28B | 1.95B |
| Gross Profit | 1.04B | 2.69B | 2.19B | 828.60M | 693.90M |
| EBITDA | 836.30M | 675.00M | 641.40M | 591.30M | 439.10M |
| Net Income | 318.70M | 256.20M | 12.90M | 291.20M | 190.50M |
Balance Sheet | |||||
| Total Assets | 3.97B | 4.06B | 3.70B | 3.33B | 2.84B |
| Cash, Cash Equivalents and Short-Term Investments | 149.70M | 268.00M | 299.90M | 179.60M | 122.80M |
| Total Debt | 1.57B | 2.09B | 1.87B | 1.45B | 1.24B |
| Total Liabilities | 2.26B | 2.77B | 2.50B | 1.95B | 1.71B |
| Stockholders Equity | 1.70B | 1.28B | 1.18B | 1.37B | 1.12B |
Cash Flow | |||||
| Free Cash Flow | 231.50M | 244.60M | 198.40M | 293.80M | 167.90M |
| Operating Cash Flow | 494.50M | 409.60M | 350.10M | 439.90M | 286.80M |
| Investing Cash Flow | -261.00M | -327.70M | -226.80M | -267.00M | -405.90M |
| Financing Cash Flow | -338.70M | -120.00M | -3.10M | -121.20M | 77.40M |
ALS Technical Analysis
Positive
22.14
Price Trends
22.28
Positive
22.90
Positive
21.91
Positive
Market Momentum
0.45
Positive
57.51
Neutral
48.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ALQ, the sentiment is Positive. The current price of 22.14 is below the 20-day moving average (MA) of 23.20, below the 50-day MA of 22.28, and above the 200-day MA of 21.91, indicating a bullish trend. The MACD of 0.45 indicates Positive momentum. The RSI at 57.51 is Neutral, neither overbought nor oversold. The STOCH value of 48.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ALQ.
ALS Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$2.07B | 40.40 | 7.87% | 0.70% | 10.43% | 8.12% | |
67 Neutral | AU$12.04B | 37.69 | 18.86% | 1.75% | 10.69% | 19.77% | |
65 Neutral | AU$3.07B | 28.63 | 20.27% | 2.65% | 26.80% | 40.18% | |
64 Neutral | AU$5.16B | 32.79 | 7.97% | 3.11% | -4.99% | 120.98% | |
64 Neutral | AU$5.10B | 19.05 | 47.41% | 3.56% | 0.58% | 25.95% | |
64 Neutral | AU$3.44B | 67.20 | 7.79% | 3.20% | 14.40% | -57.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
AU:ALQ
ALS
23.69
7.57
46.99%
AU:DOW
Downer EDI Limited
7.89
1.96
33.10%
AU:IMD
Imdex Ltd
3.98
1.18
42.14%
AU:MND
Monadelphous Group Limited
30.52
13.68
81.20%
AU:NWH
NRW Holdings Limited
7.16
4.44
163.43%
AU:VNT
Ventia Services Group Limited
6.23
1.57
33.63%
ALS Corporate Events
ALS reports cyber incident but restores most operations
May 4, 2026
ALS Limited has disclosed that it recently detected malicious cyber activity involving unauthorised third-party access to some of its IT systems, which caused temporary disruption to parts of the group’s operations. The company’s IT an...
ALS Limited Reports Lapse of 29,714 Performance Rights
Apr 13, 2026
ALS Limited has notified the market of the cessation of 29,714 performance rights, identified under the ASX security code ALQAA. The rights lapsed after the conditional entitlements to securities were not met, or became incapable of being satisfie...
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.