GR Engineering Services Ltd (AU:GNG)
ASX:GNG
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GR Engineering Services Ltd
(Sydney:GNG)
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Rating:75Outperform
Price Target:
AU$6.50
â–²(48.06% Upside)
Action:Reiterated
Date:05/27/26
The score is driven by strong technical uptrend and attractive valuation (low P/E with a 4.51% yield). Financial performance is solid on profitability and low leverage, but the recent revenue decline and cash flow volatility prevent a higher overall score.
Positive Factors
High gross margins
Sustained gross margins above 50% indicate structurally strong project-level economics and pricing power in engineering and construction work. This margin buffer supports resilience to input cost swings and preserves profitability across multi‑year EPC contracts, aiding long-term margin sustainability.
Negative Factors
Revenue decline
Recent revenue contraction signals pressure in project awards or timing of work that can persist for several quarters. For an EPC firm, lower revenue run‑rate reduces fixed‑cost coverage and limits scale benefits, increasing sensitivity of margins and cash conversion to the project pipeline.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins above 50% indicate structurally strong project-level economics and pricing power in engineering and construction work. This margin buffer supports resilience to input cost swings and preserves profitability across multi‑year EPC contracts, aiding long-term margin sustainability.
Read all positive factors
GR Engineering Services Ltd (GNG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$989.38M
Dividend Yield5.24%
Average Volume (3M)203.79K
Price to Earnings (P/E)32.2
Beta (1Y)1.21
Revenue Growth-16.50%
EPS Growth-24.00%
CountryAU
Employees415
SectorBasic Materials
Sector Strength58
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.17
Shares Outstanding170,288,360
10 Day Avg. Volume129,055
30 Day Avg. Volume203,788
Financial Highlights & Ratios
PEG Ratio3.02
Price to Book (P/B)7.89
Price to Sales (P/S)1.13
P/FCF Ratio15.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.23
Revenue Forecast (FY)AU$509.20M
GR Engineering Services Ltd Business Overview & Revenue Model
Company Description
GR Engineering Services Ltd. is an international firm specializing in comprehensive engineering, procurement, and construction (EPC) solutions for the mining and mineral processing sectors, operating both domestically in Australia and across globa...
How the Company Makes Money
GNG primarily makes money by contracting with project owners (e.g., miners and industrial operators) to deliver defined scopes of work under EPC, EPCM (engineering, procurement and construction management), or engineering/services-style agreements...
GR Engineering Services Ltd Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 424.92M | 479.02M | 424.06M | 551.36M | 651.67M | 392.39M |
| Gross Profit | 58.53M | 254.86M | 232.54M | 52.61M | 65.77M | 40.42M |
| EBITDA | 50.83M | 55.44M | 50.02M | 46.20M | 55.93M | 34.09M |
| Net Income | 29.62M | 34.21M | 31.18M | 27.49M | 34.72M | 23.24M |
Balance Sheet | ||||||
| Total Assets | 208.18M | 192.51M | 226.75M | 193.96M | 235.44M | 160.29M |
| Cash, Cash Equivalents and Short-Term Investments | 86.51M | 70.96M | 74.65M | 86.02M | 101.99M | 68.97M |
| Total Debt | 12.83M | 9.18M | 9.15M | 7.23M | 4.26M | 8.26M |
| Total Liabilities | 137.81M | 123.66M | 160.43M | 134.23M | 173.28M | 108.65M |
| Stockholders Equity | 70.38M | 68.85M | 66.33M | 59.73M | 62.16M | 51.64M |
Cash Flow | ||||||
| Free Cash Flow | 18.61M | 35.84M | 24.97M | 9.86M | 65.81M | 47.51M |
| Operating Cash Flow | 20.01M | 38.21M | 29.79M | 13.27M | 69.42M | 49.19M |
| Investing Cash Flow | -2.80M | -3.02M | -8.27M | 4.25M | -3.99M | -1.47M |
| Financing Cash Flow | -40.39M | -38.69M | -33.51M | -32.94M | -33.13M | -16.35M |
GR Engineering Services Ltd Technical Analysis
Positive
4.39
Price Trends
4.75
Positive
4.52
Positive
4.22
Positive
Market Momentum
0.36
Negative
67.83
Neutral
73.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GNG, the sentiment is Positive. The current price of 4.39 is below the 20-day moving average (MA) of 5.39, below the 50-day MA of 4.75, and above the 200-day MA of 4.22, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 67.83 is Neutral, neither overbought nor oversold. The STOCH value of 73.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:GNG.
GR Engineering Services Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | AU$2.05B | 38.10 | 27.29% | 0.57% | 50.42% | 92.71% | |
75 Outperform | AU$989.38M | 32.18 | 42.55% | 5.24% | -16.50% | -24.00% | |
69 Neutral | AU$694.45M | 29.13 | 29.27% | 2.25% | 1.59% | 2.81% | |
69 Neutral | AU$896.94M | 28.73 | 5.22% | 4.17% | -34.08% | -36.57% | |
67 Neutral | AU$633.20M | 17.66 | 22.89% | 2.51% | 1.87% | -23.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:GNG
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GR Engineering Services Ltd Corporate Events
GR Engineering wins $109m EPC deal for Sorby Hills silver-lead project
May 26, 2026
GR Engineering Services has secured a A$109 million EPC contract from Sorby Management, a subsidiary of Boab Metals, for the Sorby Hills Silver-Lead Project near Kununurra in Western Australia. The work involves disassembling, refurbishing and rel...
Boab Metals Seals $109m EPC Deal to Relocate DeGrussa Plant to Sorby Hills
May 26, 2026
Boab Metals has signed a A$109 million engineering, procurement and construction contract with GR Engineering Services for the Sorby Hills processing plant in Western Australia, underpinning the development of its flagship silver-lead project. The...
GR Engineering Secures $110m EPC Mandate for Laverton Gold Plant
May 26, 2026
GR Engineering Services has signed a $110 million engineering, procurement and construction contract with Brightstar Resources for the Laverton Processing Plant, a 1.5 million tonne per annum gold project. The award, which follows GR Engineering&#...
GR Engineering Wins $229m EPC Contract for Tower Hill Gold Project
May 21, 2026
GR Engineering Services Limited has secured an engineering, procurement and construction contract with Genesis Minerals’ subsidiary for the Tower Hill Gold Project in Western Australia. The contract, valued at $229 million, follows GR Engine...
GR Engineering unit wins $57m Beetaloo Basin operations contract
May 3, 2026
GR Engineering Services’ subsidiary GR Production Services has secured a five-year, $57 million contract to provide operations and maintenance services for the Sturt Plateau Compression Facility in the Beetaloo Basin, Northern Territory. The...
GR Engineering issues new employee shares under equity incentive plan
Apr 23, 2026
GR Engineering Services Limited has issued 22,000 fully paid ordinary shares to employees for nil consideration following the vesting and exercise of an equivalent number of performance rights under its 2022 Equity Incentive Plan. The issuance, co...
GR Engineering Seeks Quotation for New Employee Incentive Shares
Apr 23, 2026
GR Engineering Services Ltd has applied to the ASX for quotation of 22,000 ordinary fully paid shares issued on April 23, 2026 under its employee incentive scheme. The modest size of the issuance suggests a routine equity-based remuneration event,...
GR Engineering wins $68m EPC contract for Northparkes flotation upgrade
Apr 9, 2026
GR Engineering Services has secured a $68 million EPC contract from Northparkes Mining Services, a subsidiary of Evolution Mining, for the Northparkes Coarse Particle Flotation Project in New South Wales. The plant upgrade, located 300 km west of ...
GR Engineering Sets DRP Price in Updated Interim Dividend Notice
Mar 18, 2026
GR Engineering Services has updated its dividend notification for holders of its ordinary fully paid shares, announcing the dividend reinvestment plan pricing linked to its interim distribution. The dividend relates to the six‑month period e...
GR Engineering Issues New Shares to Employees Under Equity Incentive Plan
Mar 13, 2026
GR Engineering Services Limited has issued 217,025 fully paid ordinary shares to employees for nil consideration following the vesting and exercise of an equivalent number of Performance Rights under its 2022 Equity Incentive Plan. The issuance, m...
GR Engineering Seeks ASX Quotation for New Employee Incentive Shares
Mar 13, 2026
GR Engineering Services Limited has applied to the ASX for quotation of 217,025 new ordinary fully paid shares. These securities were issued on 13 March 2026, primarily in connection with the company’s employee incentive scheme and are to be...
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.