Dyno Nobel (AU:DNL)
ASX:DNL
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Dyno Nobel
(Sydney:DNL)
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Rating:61Neutral
Price Target:
AU$3.00
▼(-3.85% Downside)
Action:ReiteratedDate:03/10/26
The score is held up mainly by a comparatively stable balance sheet, but is weighed down by declining revenue/profitability and a significant drop in free cash flow. Technical indicators also lean bearish with the price below key moving averages and negative MACD, while valuation is pressured by a high P/E despite the dividend yield.
Positive Factors
Strong balance sheet
Moderate leverage and a 56.6% equity base provide a durable financial cushion. This capital structure supports continued investment in manufacturing and logistics, reduces insolvency risk during industry cycles, and gives management flexibility to fund operations or strategic capex over months.
Negative Factors
Sustained revenue decline
A material decline in revenue erodes scale and operating leverage, making fixed-cost recovery harder and pressuring margins. If demand weakness in mining and construction persists, revenue contraction will limit reinvestment, contract competitiveness and long-term margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Moderate leverage and a 56.6% equity base provide a durable financial cushion. This capital structure supports continued investment in manufacturing and logistics, reduces insolvency risk during industry cycles, and gives management flexibility to fund operations or strategic capex over months.
Read all positive factors
Dyno Nobel (DNL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.50B
Dividend Yield3.6%
Average Volume (3M)5.66M
Price to Earnings (P/E)39.5
Beta (1Y)1.08
Revenue Growth-29.71%
EPS GrowthN/A
CountryAU
Employees5,600
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.18
Shares Outstanding1,762,075,900
10 Day Avg. Volume5,374,447
30 Day Avg. Volume5,655,553
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)1.30
Price to Sales (P/S)1.55
P/FCF Ratio57.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.47Price Target Upside11.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.2
Revenue Forecast (FY)AU$3.63B
Dyno Nobel Business Overview & Revenue Model
Company Description
Dyno Nobel Limited, together with its subsidiaries, manufactures and distributes commercial explosives in in the United States, Australia, and Mexico. It offers packaged explosives, including Powermite, a cartridge explosive; and Dynosplit for pre...
How the Company Makes Money
Dyno Nobel primarily makes money by selling industrial explosives and related blasting products and by providing blasting services and technical support to resource and infrastructure customers. Key revenue streams typically include: (1) Explosive...
Dyno Nobel Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
75
Positive
Cash Flow
60
Neutral
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.71B | 5.28B | 5.41B | 6.32B | 4.35B |
| Gross Profit | 1.02B | 2.60B | 2.48B | 3.34B | 2.29B |
| EBITDA | 628.30M | -190.20M | 792.40M | 1.83B | 637.80M |
| Net Income | 145.50M | -310.90M | 560.00M | 1.01B | 149.10M |
Balance Sheet | |||||
| Total Assets | 7.83B | 8.40B | 10.55B | 10.86B | 9.39B |
| Cash, Cash Equivalents and Short-Term Investments | 647.20M | 1.07B | 405.00M | 763.50M | 651.80M |
| Total Debt | 2.02B | 1.96B | 1.97B | 1.96B | 1.91B |
| Total Liabilities | 3.40B | 3.55B | 4.12B | 4.57B | 4.02B |
| Stockholders Equity | 4.43B | 4.85B | 6.43B | 6.29B | 5.37B |
Cash Flow | |||||
| Free Cash Flow | 100.50M | -88.50M | 205.70M | 659.30M | 295.20M |
| Operating Cash Flow | 574.70M | 290.20M | 700.80M | 1.09B | 650.20M |
| Investing Cash Flow | -526.60M | 1.29B | -481.80M | -574.70M | -342.40M |
| Financing Cash Flow | -481.30M | -887.10M | -584.60M | -413.20M | -211.20M |
Dyno Nobel Technical Analysis
Neutral
3.12
Price Trends
3.27
Negative
3.27
Negative
3.09
Positive
Market Momentum
-0.07
Negative
48.63
Neutral
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DNL, the sentiment is Neutral. The current price of 3.12 is below the 20-day moving average (MA) of 3.13, below the 50-day MA of 3.27, and above the 200-day MA of 3.09, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 48.63 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:DNL.
Dyno Nobel Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | AU$9.41B | 63.03 | 3.61% | 2.28% | 6.29% | -69.95% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$5.50B | 39.53 | 3.14% | 3.60% | -29.71% | ― | |
55 Neutral | AU$34.67M | -2.92 | -82.31% | ― | 7.08% | 33.70% | |
43 Neutral | AU$115.41M | -1.24 | -73.16% | ― | 16.47% | 29.53% |
* Basic Materials Sector Average
AU:DNL
Dyno Nobel
3.12
0.66
27.04%
AU:ORI
Orica Limited
20.30
3.77
22.78%
AU:CXL
Calix Ltd.
0.54
0.12
27.38%
AU:CG1
Carbonxt Group Ltd.
0.08
0.02
35.59%
Dyno Nobel Corporate Events
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Mar 9, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The company reported that, as of the latest daily update dated 10 March 2026, a total of 36,230,499 sh...
Dyno Nobel Director Maintains Stake as Janchor Funds Lift Derivative Exposure
Mar 4, 2026
Dyno Nobel has disclosed that director John Ho’s relevant interest in the company’s fully paid ordinary shares remains unchanged at 157,489,475 shares, held indirectly through Janchor Partners Limited as investment manager. The filing ...
Dyno Nobel Updates Market on Progress of On‑Market Share Buy‑Back
Mar 2, 2026
Dyno Nobel Limited has provided an updated notification of its on-market share buy-back, confirming that a total of 35,790,482 ordinary fully paid shares had been repurchased before the previous trading day. The company also disclosed that it boug...
Dyno Nobel Continues On‑Market Buy‑Back With Daily Share Repurchases
Mar 1, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program, confirming that a total of 35,239,661 ordinary fully paid shares had been repurchased prior to the latest reporting day. The...
Dyno Nobel Reports Daily Progress in On-Market Share Buy-Back
Feb 26, 2026
Dyno Nobel Limited has continued its on-market share buy-back program, reporting that it has repurchased a cumulative total of 34,953,637 ordinary fully paid shares prior to the latest trading day. The company disclosed that a further 286,024 shar...
Dyno Nobel Cancels Nearly 7 Million Shares After On-Market Buy-Back
Feb 26, 2026
Dyno Nobel Ltd. has cancelled 6,934,895 ordinary fully paid shares following an on-market buy-back completed on February 20, 2026. The reduction in issued securities reflects the company’s use of buy-backs as a capital management tool, poten...
Dyno Nobel Continues On-Market Share Buy-Back With Daily Purchases
Feb 24, 2026
Dyno Nobel Limited, listed on the ASX under ticker DNL, is conducting an on-market buy-back of its ordinary fully paid shares as part of its ongoing capital management. The company has progressively reduced its share count since launching the prog...
Dyno Nobel Reports Ongoing Progress in On‑Market Share Buy‑Back
Feb 23, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its on‑market share buy‑back of ordinary fully paid shares, originally announced in December 2025 and most recently updated on 23 February 2026. As of the lat...
Dyno Nobel Director Holding Steady as Janchor Increases Derivative Exposure
Feb 23, 2026
Dyno Nobel has reported no change in director John Ho’s relevant interest in 157,489,475 fully paid ordinary shares, which continue to be held indirectly through investment manager Janchor Partners Limited. The filing confirms that there was...
Dyno Nobel Continues On‑Market Share Buy‑Back Program
Feb 22, 2026
Dyno Nobel Limited, listed on the ASX under code DNL, is a producer and supplier of industrial explosives and blasting services used predominantly by mining and infrastructure clients worldwide. Its business model relies on long-term supply contra...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Feb 19, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest filing, dated 20 February 2026, reports that a total of 32,966,337 shares had ...
Dyno Nobel Issues New Shares Following Conversion of Unquoted Securities
Feb 11, 2026
Dyno Nobel Limited has notified the market that 133,282 ordinary fully paid shares will be issued following the exercise or conversion of unquoted options or other unquoted convertible securities. The new shares, dated 6 February 2026, represent a...
Dyno Nobel Director’s Economic Exposure Rises Through Derivative Positions
Feb 10, 2026
Dyno Nobel has disclosed that director John Ho’s indirect relevant interest in the company’s fully paid ordinary shares, held via Janchor Partners Pan-Asian Master Fund, remains unchanged at 157,489,475 shares. However, the fund has in...
Dyno Nobel Updates Market on Ongoing On‑Market Share Buy‑Back
Feb 10, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back program for its ordinary fully paid shares. The company reported that it had repurchased a cumulative total of 30,353,781...
Dyno Nobel Expands On‑Market Share Buy‑Back Program
Feb 9, 2026
Dyno Nobel Limited has continued its on‑market share buy‑back program, reporting that a total of 29,656,706 ordinary fully paid shares had been repurchased before the previous trading day. The company disclosed that it bought back an a...
Dyno Nobel Updates ASX on Progress of On‑Market Share Buy‑Back
Feb 8, 2026
Dyno Nobel Limited has provided an updated notification to the Australian Securities Exchange regarding its ongoing on‑market share buy‑back program for its ordinary fully paid shares. The company reported that it had repurchased a cum...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Feb 5, 2026
Dyno Nobel Limited has reported progress under its on-market share buy-back program for its ordinary fully paid shares traded on the ASX under code DNL. The company disclosed that it had repurchased a cumulative total of 27,802,455 shares prior to...
Dyno Nobel Cancels 2.86 Million Shares Under On‑Market Buy‑Back
Feb 5, 2026
Dyno Nobel Limited has cancelled 2,864,757 ordinary fully paid shares as part of an on‑market buy-back program, according to a notification of cessation of securities lodged with the ASX. The reduction in issued capital, effective 2 February...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Feb 3, 2026
Dyno Nobel Limited has provided an updated notification to the ASX detailing the progress of its on-market share buy-back program for ordinary fully paid shares. As of 4 February 2026, the company reported that a total of 26,468,089 shares had bee...
Dyno Nobel Updates Market on Ongoing On‑Market Share Buy-Back
Feb 2, 2026
Dyno Nobel Limited has updated the market on progress of its on-market share buy-back, which relates to its ordinary fully paid shares listed on the ASX under the code DNL. The company reported that, as of the latest notification dated 3 February ...
Dyno Nobel Provides Daily Update on Ongoing On‑Market Share Buy‑Back
Feb 1, 2026
Dyno Nobel Limited has disclosed an update to its on‑market share buy‑back program involving its ordinary fully paid shares listed on the ASX. As of 2 February 2026, the company reported that it had repurchased a cumulative 26,031,442 ...
Dyno Nobel Continues On-Market Share Buy-Back Program
Jan 28, 2026
Dyno Nobel Limited has continued its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code DNL. The company reported that, as of 29 January 2026, it had repurchased a cumulative 25,517,634 shares prio...
Dyno Nobel Sets Out Key 2026 Reporting and Governance Dates
Jan 23, 2026
Dyno Nobel Limited has released its 2026 calendar of key corporate dates for investors and stakeholders, including the announcement of half-year results on 11 May, the closing date for director nominations on 15 October, full-year results on 9 Nov...
Dyno Nobel Updates ASX on Progress of On-Market Share Buy-Back
Jan 22, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of the latest daily filing dated 23 January 2026, the company reports a cumulative tot...
Dyno Nobel Updates ASX on Progress of On-Market Share Buy-Back
Jan 21, 2026
Dyno Nobel Limited has provided an updated notification of its ongoing on-market share buy-back program, confirming that a total of 24,703,805 ordinary fully paid shares had been repurchased prior to the latest reporting date, with an additional 2...
Dyno Nobel Provides Daily Update on Ongoing On‑Market Share Buy‑Back
Jan 20, 2026
Dyno Nobel Limited, listed on the ASX under the code DNL, is conducting an on-market buy-back of its ordinary fully paid shares as part of its capital management activities. The company reported that as of 21 January 2026 it had repurchased a tota...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Jan 18, 2026
Dyno Nobel Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code DNL. The company disclosed that, as of 19 January 2026, it has repurchased a cumulative total of ...
Dyno Nobel Issues Daily Update on Ongoing On‑Market Share Buy-Back
Jan 15, 2026
Dyno Nobel Limited, an Australia-based listed company trading under the ASX code DNL with ordinary fully paid shares, has reported updated details of its on‑market share buy-back program. The company disclosed that as of 16 January 2026 it h...
Dyno Nobel Updates ASX on Ongoing On‑Market Share Buy‑Back
Jan 14, 2026
Dyno Nobel Limited has disclosed an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code DNL. The company reported that a total of 23,800,238 shares had been repurchased prior to the la...
Dyno Nobel Cancels 3.3 Million Shares After On‑Market Buy‑Back
Jan 14, 2026
Dyno Nobel Limited has cancelled 3,255,015 ordinary fully paid shares following completion of an on-market share buy-back, effective 12 January 2026. The move reduces the company’s issued capital and indicates an active capital management st...
Dyno Nobel Updates Daily On‑Market Share Buy‑Back Activity
Jan 13, 2026
Dyno Nobel Limited has provided an updated notification on its on‑market share buy-back program, covering its ordinary fully paid shares traded under ASX code DNL. The company advised that, as of 14 January 2026, it has repurchased a cumulat...
Dyno Nobel Issues Daily Update on On‑Market Share Buy-Back
Jan 12, 2026
Dyno Nobel Limited, listed on the ASX under the code DNL, has provided an updated notification of its on‑market share buy-back program. The company reported that it had repurchased a cumulative total of 23,417,452 ordinary fully paid shares ...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Jan 11, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of 12 January 2026, the company reported that it had repurchased a cumulative total of...
Dyno Nobel Updates ASX on Progress of On‑Market Share Buy-Back
Jan 8, 2026
Dyno Nobel Limited has provided an updated notification to the ASX outlining the ongoing progress of its on-market share buy-back program, originally announced on 18 December 2025. As of 9 January 2026, the company has repurchased a cumulative 22,...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Jan 7, 2026
Dyno Nobel Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program, confirming that a total of 22,571,002 ordinary fully paid shares had been repurchased before the previous trading day. The company ...
Dyno Nobel Issues Daily Update on Ongoing On‑Market Share Buy-Back
Jan 6, 2026
Dyno Nobel Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. As of the latest daily update dated 7 January 2026, the company reports having repurchase...
Dyno Nobel Continues On‑Market Share Buy‑Back Program
Jan 5, 2026
Dyno Nobel Limited has provided an update on its on‑market share buy‑back of ordinary fully paid shares on the ASX, as part of its ongoing capital management activities. The company disclosed that it has repurchased a total of 21,963,5...
Dyno Nobel Updates Market on Progress of On-Market Share Buy-Back
Dec 21, 2025
Dyno Nobel Limited has provided an updated notification to the ASX regarding its on-market share buy-back of ordinary fully paid shares under code DNL. The latest filing, dated 22 December 2025, reports that the company had repurchased a cumulativ...
Dyno Nobel Cancels 1.49 Million Shares in On-Market Buy-Back
Dec 19, 2025
Dyno Nobel Limited has cancelled 1,485,614 fully paid ordinary shares through an on‑market buy-back, as disclosed in its latest notification to the ASX. The reduction in issued capital via the buy-back will modestly consolidate existing shar...
Dyno Nobel Director Mauro Neves Increases On‑Market Shareholding
Dec 19, 2025
Dyno Nobel Limited has disclosed a change in the equity holdings of director Mauro Neves de Moraes, in line with ASX requirements for reporting directors’ interests. The director acquired 31,026 fully paid ordinary shares in an on‑mark...
Dyno Nobel Updates Market on Progress of On‑Market Share Buy‑Back
Dec 18, 2025
Dyno Nobel Limited has disclosed an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code DNL. The company reported that it has repurchased a cumulative total of 19,911,670 shares prior ...
Dyno Nobel Announces On-Market Share Buy-Back Initiative
Dec 18, 2025
Dyno Nobel Limited has announced an on-market buy-back of its ordinary fully paid securities, reflecting a strategic move to enhance shareholder value and optimize capital management. This decision is expected to positively impact the company̵...
Dyno Nobel Completes AUD 62.8 Million Share Buy-Back
Dec 18, 2025
Dyno Nobel Limited has concluded its on-market share buy-back program, which saw the company repurchase 19,911,670 fully paid ordinary shares for approximately AUD 62.8 million. This action is part of the company’s strategic efforts to optim...
Dyno Nobel Updates Daily Buy-Back Progress
Dec 17, 2025
Dyno Nobel Limited has announced a daily update regarding its ongoing on-market buy-back program, with 449,540 ordinary fully paid securities bought back on the previous day, bringing the total to 19,462,130 securities acquired so far. This buy-ba...
Dyno Nobel Secures Approval for Continued On-Market Buyback
Dec 17, 2025
Dyno Nobel Limited has announced that it received shareholder approval at its 2025 Annual General Meeting to continue its on-market buyback of ordinary fully paid securities. This decision reflects the company’s ongoing strategy to manage it...
Dyno Nobel Announces Cessation of Securities via Buy-Back
Dec 17, 2025
Dyno Nobel Limited announced the cessation of 3,975,398 ordinary fully paid securities due to an on-market buy-back, effective December 16, 2025. This move is likely aimed at optimizing the company’s capital structure and could impact its ma...
Dyno Nobel’s 2025 AGM Results: Key Resolutions Passed
Dec 17, 2025
Dyno Nobel Limited announced the results of its 2025 Annual General Meeting, where all resolutions were passed by a poll. Key resolutions included the re-election of Gregory Robinson as a director, adoption of the remuneration report, and approval...
Dyno Nobel Reports Strong Explosives Performance Amid Strategic Shift
Dec 17, 2025
Dyno Nobel Limited reported significant progress in its 2025 financial year, driven by a transformation program that resulted in strong financial and operational outcomes. Despite a statutory net loss due to write-downs from exiting fertilizer ass...
Dyno Nobel Updates on Market Buy-Back Progress
Dec 15, 2025
Dyno Nobel Limited has announced an update regarding its ongoing on-market buy-back program for its ordinary fully paid securities. As of December 16, 2025, the company has repurchased a total of 18,949,183 securities, including 523,127 securities...
Dyno Nobel Updates on Market Buy-Back Program
Dec 10, 2025
Dyno Nobel Limited has announced an update on its ongoing on-market buy-back program, with a total of 17,295,131 securities bought back prior to the previous day and an additional 395,661 securities bought back on the previous day. This buy-back i...
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.