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Austal
(Sydney:ASB)
Austal (ASB) vs. iShares MSCI Australia ETF (EWA)
Austal Business Overview & Revenue Model
Austal Earnings Call Summary
Austal Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.11B | 1.82B | 1.47B | 1.59B | 1.43B | 1.57B |
| Gross Profit | 279.02M | 229.60M | 172.51M | 99.10M | 230.28M | 222.56M |
| EBITDA | 202.31M | 199.76M | 127.64M | 56.76M | 153.96M | 160.69M |
| Net Income | 95.12M | 89.73M | 14.88M | -13.77M | 79.56M | 81.06M |
Balance Sheet | ||||||
| Total Assets | 3.01B | 2.95B | 2.09B | 1.93B | 1.69B | 1.45B |
| Cash, Cash Equivalents and Short-Term Investments | 371.57M | 583.93M | 173.51M | 179.20M | 240.11M | 346.90M |
| Total Debt | 407.28M | 266.99M | 281.06M | 240.46M | 234.12M | 204.60M |
| Total Liabilities | 1.68B | 1.64B | 1.09B | 885.12M | 675.97M | 615.78M |
| Stockholders Equity | 1.33B | 1.31B | 1.00B | 948.82M | 924.28M | 774.04M |
Cash Flow | ||||||
| Free Cash Flow | -194.18M | 210.68M | -82.96M | -41.91M | -127.42M | 30.18M |
| Operating Cash Flow | 105.11M | 406.32M | -13.05M | 86.71M | 37.50M | 107.33M |
| Investing Cash Flow | -282.81M | -149.23M | -12.70M | -102.78M | -127.51M | -85.05M |
| Financing Cash Flow | 190.50M | 153.76M | 19.52M | -38.06M | -38.33M | -46.31M |
Austal Technical Analysis
Austal Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$933.00M | 12.99 | 10.32% | 10.58% | 16.61% | 3.07% | |
65 Neutral | AU$2.25B | 22.37 | 7.54% | ― | 24.13% | 474.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | AU$1.72B | 21.99 | 9.26% | 1.30% | 15.14% | -7.23% | |
54 Neutral | AU$90.98M | -5.00 | 5.66% | 1.28% | -14.88% | -56.89% | |
51 Neutral | AU$1.78B | 82.53 | -30.81% | ― | -72.88% | ― | |
42 Neutral | AU$21.49M | -3.28 | -42.31% | ― | -34.48% | -26000.00% |
Austal Corporate Events
Austal reported first half FY26 revenue of $1.1 billion and EBIT of $60.3 million, underpinned by a robust order book of $17.7 billion including options. Operational activity remains high, with 22 ships ordered, two delivered, and 76 ships under construction or scheduled, alongside 64 vessels under sustainment contracts.
With shipyards and service centres spanning four countries, Austal continues to scale its role as a key defence and commercial maritime supplier. The sizeable backlog and active sustainment portfolio provide strong forward visibility for stakeholders and reinforce the company’s positioning as a major long-term contractor in global naval and maritime markets.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal reported a strong first half for FY2026, with revenue rising 34.4% to $1.1 billion and EBIT increasing 41.3% to $60.3 million, driven by a significant earnings turnaround in its Australasian operations that offset weaker U.S. performance amid facility expansion. Net profit after tax grew 21.4% to $30.5 million, while the company’s net cash position declined to $241.4 million as it accelerated capital expenditure on expanding U.S. manufacturing capacity and opted against paying an interim dividend.
The order book reached a record $17.7 billion as of 20 February 2026, underpinned by about A$5 billion in new Australian defence contracts to design and build Landing Craft Medium and Heavy vessels under a Strategic Shipbuilding Agreement with the Australian Government. These long-term defence programs are expected to sustain elevated activity in Austal’s Australasian operations and enhance its resilience and diversification, positioning the company to capture further defence opportunities in both Australia and the U.S., even as second-half earnings are forecast to be lower than the unusually strong H2 FY2025.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited, Australia’s largest defence exporter and a major global shipbuilder, specialises in advanced commercial and military vessels for clients including the U.S. Department of Defense, U.S. Coast Guard and the Australian Department of Defence. With shipyards across Australia, the United States, the Philippines and Vietnam, the ASX-listed group has delivered more than 360 vessels over almost 40 years and was named the Australian Government’s Strategic Shipbuilder in Western Australia in 2024.
The company has secured a binding A$4 billion contract with the Commonwealth of Australia to construct eight 100-metre Landing Craft Heavy vessels at its Henderson, Western Australia shipyard, based on the Damen LCT100 design. The deal significantly strengthens Austal’s defence order book and underscores its growing strategic role in Australia’s naval shipbuilding program, supporting long-term utilisation of its Western Australian facilities and reinforcing its competitive position in the global defence maritime market.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited will host an analyst and investor conference call on 23 February 2026 to discuss its financial results for the half year ended 31 December 2025. The company will release its half-year accounts and accompanying presentation to the market before trading opens that day, with an archived recording of the briefing to be made available online shortly after the event.
The scheduled results call underscores Austal’s ongoing engagement with capital markets as it executes major defence and commercial shipbuilding programs across multiple jurisdictions. Investors and other stakeholders will gain updated insight into the performance of its strategic shipbuilding activities and export contracts, which are central to its role as a key defence industry supplier for Australia and the United States.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Defence Australia has secured an approximately $4 billion contract from the Australian Government to build eight 100-metre Landing Craft Heavy vessels at its Henderson facilities in Western Australia, with construction starting in 2026 and final delivery expected in 2038. The award, made under the Strategic Shipbuilding Agreement, cements Austal’s role as a key sovereign shipbuilder, creates thousands of skilled jobs, strengthens its local supply chain, and provides a record 12-year order pipeline that balances its traditionally U.S.-weighted defence revenue.
The new Landing Craft Heavy vessels, based on the Damen LST100 design, will deliver critical amphibious, logistics, humanitarian and disaster relief capability for the Australian Defence Force across the region. Together with the earlier Landing Craft Medium program, the contract underpins decades of continuous naval shipbuilding in Western Australia, enhances industrial capability at Henderson, and offers significant opportunities for domestic suppliers and workers while complementing Austal USA’s ongoing construction of smaller landing craft for the U.S. Navy.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal has disclosed that it was in breach of ASX Listing Rule 12.7 after its Audit & Risk Committee was chaired by a director later deemed non‑independent, following the February 2025 resignation of former independent chair Sarah Adam‑Gedge. The company explained that although the board continued to view then chair Brent Cubis as capable of exercising independent judgment despite his affiliation with a major shareholder, it had failed to appoint an alternative independent chair promptly, resulting in non-compliance with governance requirements for S&P/ASX 300 entities. Austal has since restored compliance by appointing independent non‑executive director Sue Murphy as chair of the Audit & Risk Committee on 18 December 2025 and highlighted additional safeguards, including rigorous conflict-of-interest declarations, potential temporary changes in committee leadership, and ongoing engagement with external auditor Deloitte, to ensure independent oversight of financial reporting and risk management.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
State Street Corporation, through subsidiaries including State Street Global Advisors and State Street Bank and Trust Company, has lodged a notice stating it has ceased to be a substantial shareholder in Austal Limited as of 26 December 2025. The change in holding, disclosed under section 671B of the Corporations Act, signals an exit from a substantial position by a major global institutional investor, potentially altering Austal’s share register composition and reducing the presence of passive institutional capital in the stock, though the filing provides no detail on the size of the divestment or the consideration involved.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal has secured a contract extension worth more than A$135 million to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force, lifting the total number of these vessels ordered to 14. The deal deepens Austal’s long-running relationship with the Australian Border Force and Royal Australian Navy, reflects continued confidence in the Evolved Cape-class platform, and further embeds the company’s role in Australia’s border security architecture and sovereign shipbuilding base. Construction of the new boats will take place at Austal’s Henderson shipyard in Western Australia, supported by a national supply chain, while Austal continues to provide in-service support for both Cape-class and Evolved Cape-class fleets and progresses delivery of the Guardian-class Patrol Boat program.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has secured a $1.029 billion contract to design and build 18 Landing Craft Medium (LCM) vessels for the Australian Army as part of the Strategic Shipbuilding Agreement with the Commonwealth of Australia. This contract marks the first step in advancing Australia’s sovereign naval shipbuilding capability at Austal’s Henderson facility in Western Australia, with construction commencing in 2026 and running through to 2032. The project is expected to create significant opportunities for local industries and businesses, enhancing the nation’s defence capabilities while laying the groundwork for future large-scale shipbuilding initiatives.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has announced that State Street Global Advisors Europe Limited has ceased to be a substantial holder in the company as of December 12, 2025. This change in substantial holding may impact Austal’s shareholder structure and could influence future voting outcomes and corporate decisions.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has received approval from the Foreign Investment Review Board and the Federal Treasurer for Hanwha Corporation to increase its equity shareholding in Austal from 9.9% to 19.9%. This decision is subject to conditions regarding sensitive information access and board nominations. Austal is in a strong financial position with a record revenue of $1.8 billion and an EBIT of $113 million in FY25, and it anticipates continued growth with a forecasted EBIT of $135 million in FY26. The company has a robust order book exceeding $13 billion and is expanding its US shipbuilding capacity. Hanwha’s increased stake may lead to partnerships and board positions, which Austal will evaluate for potential benefits to shareholders.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of December 9, 2025. This change in substantial holding may impact Austal’s shareholder structure and could influence future voting outcomes and corporate decisions.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders of voting securities in the company as of December 3, 2025. This change in substantial holding may impact Austal’s shareholder structure and influence, potentially affecting its strategic decisions and market perception.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has announced a change in substantial holding, as State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of November 27, 2025. This change in holding may impact Austal’s shareholder structure and could have implications for the company’s governance and strategic decisions moving forward.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
Austal Limited has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of November 24, 2025. This change in substantial holding may impact Austal’s shareholder composition and could influence its market strategies and investor relations.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.