GenusPlus Group Ltd. (GNP) AI Stock Analysis

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GenusPlus Group Ltd.

(Sydney:GNP)

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Outperform 76 (OpenAI - 5.2)

Rating:76Outperform

Price Target:

AU$8.50

▲(6.38% Upside)

Action:ReiteratedDate:02/23/26

The score is driven primarily by strong financial performance (growth, profitability improvement, prudent leverage, and robust cash generation) and supportive technical trends. This is partially offset by a relatively expensive valuation (high P/E and low yield). Earnings call insights reinforce the positive outlook via record results and a large pipeline, tempered by margin and project-timing risks.

Positive Factors

Strong revenue growth and improving profitability

Consistent top‑line growth and materially higher gross margins point to durable operating strength from integrated project and services mix. Improved EBIT/EBITDA and net margins indicate better cost control and pricing power, supporting sustainable earnings capacity over the medium term.

Robust cash generation and liquidity

Very strong FCF growth and >1x cash conversion show high cash reliability from operations. This underpins funding for capex, bid bonds and selective M&A without excessive leverage, preserving financial flexibility as large projects are mobilised and equipment investment increases.

Deep tender pipeline and major contract wins

A large diversified order book and landmark JV wins provide multi‑year revenue visibility and support utilisation of plant and crews. The pipeline and recurring services contracts reduce near‑term bid risk, enabling stable workload and scope to scale margins via integrated delivery and follow‑on services.

Negative Factors

Modest infrastructure margins on large projects

Low single‑digit EBIT on major infrastructure work reduces profit leverage and leaves limited buffer for cost overruns or adverse supply inflation. Persistent modest margins mean growth in scale may not translate proportionally to net earnings without sustained margin improvement or higher‑margin work mix.

Safety performance below target

Higher‑than‑target TRIFR signals elevated operational risk; safety incidents can cause project delays, higher insurance/indemnity costs and reputation impacts that constrain ability to secure large contracts. Improving safety is a multi‑period effort that affects execution reliability.

Skills and apprentice shortfalls

Insufficient local skilled labour and reliance on external recruitment limits scalable capacity and raises labour cost exposure. Training and retention are multi‑year fixes; without them, the company may face delivery bottlenecks, higher subcontract costs and constrained ability to capture large project work.

GenusPlus Group Ltd. (GNP) vs. iShares MSCI Australia ETF (EWA)

Market Cap

AU$1.45B

Dividend Yield0.57%

Average Volume (3M)266.49K

Price to Earnings (P/E)30.1

Beta (1Y)1.29

Revenue Growth36.30%

EPS Growth82.20%

CountryAU

Employees1,059

SectorIndustrials

Sector Strength72

IndustryEngineering & Construction

Share Statistics

EPS (TTM)0.14

Shares Outstanding181,525,630

10 Day Avg. Volume234,978

30 Day Avg. Volume266,494

Financial Highlights & Ratios

PEG Ratio0.25

Price to Book (P/B)4.58

Price to Sales (P/S)0.97

P/FCF Ratio6.79

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

AU$8.94

Price Target Upside11.89% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering2

EPS Forecast (FY)0.27

Revenue Forecast (FY)AU$1.04B

GenusPlus Group Ltd. Business Overview & Revenue Model

Company DescriptionGenusPlus Group Limited engages in the installation, construction, and maintenance of power and communication systems in Australia. The company operates through three segments: Power Services, Telecommunications, and Industrial Services. It offers various services, including planning, designing, constructing, operating, testing, maintaining, managing, and decommissioning power network assets for electricity utilities, infrastructure developers, telecommunications networks, and mining companies. The company also provides electrical and instrumentation, and mechanical services to mining, oil and gas, infrastructure, and power generation sectors; and turnkey communications solutions, such as feasibility, engineering design, site acquisition, logistics, procurement, construction, and integration. GenusPlus Group Limited was incorporated in 2017 and is headquartered in Belmont, Australia.

How the Company Makes MoneyGenusPlus Group Ltd. generates revenue through multiple streams, primarily derived from service contracts in engineering and project management within the energy and resources sectors. Key revenue streams include project-based work, ongoing maintenance contracts, and consultancy services provided to clients. The company also benefits from strategic partnerships with major industry players, allowing them to secure long-term contracts and expand their market reach. Additionally, GNP may derive income from the sale of specialized equipment and technology solutions, further diversifying its revenue portfolio.

GenusPlus Group Ltd. Earnings Call Summary

Earnings Call Date:Feb 22, 2026

(Q2-2026)

Next Earnings Date:Sep 02, 2026

Earnings Call Sentiment Positive

The call presents a broadly positive operational and financial picture: record revenue (+60% y/y), record EBITDA and NPAT, strong cash generation and conversion, a deep tender pipeline (~$2.6bn) and major contract wins including a $1.6bn JV. Segment performance shows solid growth and successful integration of acquisitions, and the services business has returned to sustained profitability. Key risks and weaknesses highlighted include modest infrastructure margins (5.2%), safety metrics above target, legacy acquisition/legal costs, skills/apprentice shortfalls, and timing uncertainty for some large project revenues. Overall, the positive growth, cash strength, and pipeline substantially outweigh the negatives.

Q2-2026 Updates

Positive Updates

Record Group Financials

Revenue of $535 million (record), up 60% on the prior corresponding period; record EBITDA of $46.3 million; record statutory NPAT of $24.9 million; strong operating cash flow of $91 million and cash conversion of 199%.

Strong Balance Sheet and Liquidity

Cash of $178 million, net cash position of $127 million with $22 million in restricted term deposits; executed a $429 million syndicated facility and reported $278 million of headroom at December to fund growth; interim fully franked dividend of $0.02 announced.

Large Contract Wins and Order Book Expansion

Major contract wins including a $1.6 billion Western Renewables Link (Genus-Acciona JV), a significant Western Power award with an additional $110 million of revenue backed into that job, Alinta Wagerup and FMG decarbonization work; successful conversion of work into the order book and a tendered pipeline of approximately $2.6 billion.

Segment Performance — Infrastructure

Infrastructure revenue of $345 million for the half; Infrastructure EBIT grew ~54% year-on-year, delivering a 5.2% EBIT margin while HumeLink is fully underway and other major projects (Hunter-Central Coast, TasNetworks) have commenced or are near start.

Segment Performance — Energy & Engineering

Energy & Engineering revenue of $151 million with segment EBITDA of $10.9 million; successful integration of CommTel and Partum enabling more engineering and full life-cycle capability and conversions on projects such as Wagerup and Atmos.

Services Turnaround and Contracted Revenue

Services segment has returned to profitability after prior losses, delivering consecutive reporting periods with EBITDA margins in the teens; stable Telstra and NBN relationships and new multi-year vegetation contracts contributing to recurring revenue.

Strong Cash Management and Capital Investment Discipline

CapEx disciplined at $34 million year-to-date with guidance to manage around $40–45 million for the full year depending on project timing; investment aimed at owning critical project equipment that cannot be hired.

M&A Capability and Integration Track Record

Ongoing acquisitions integration described as successful; management signals capacity and intent to pursue further M&A opportunities at disciplined sizes and strategic focus areas.

Negative Updates

Margins Under Pressure on Large Infrastructure Projects

Infrastructure EBIT margin at 5.2% (despite 54% EBIT growth) with management indicating room for margin improvement; large projects targeted around 5% EBIT and other infrastructure nearer 8% — margins remain modest relative to scale.

Safety Performance Below Internal Target

Injury statistics at 3.5 (TRIFR implied) versus an internal target of under 3, with management highlighting ongoing focus on safety investment and improvement.

Acquisition and Legal Costs / Legacy Claims

Reported acquisition, legal and advisory costs in the period and a requirement to close out an old claim related to legacy EC&M acquisition; acquisition amortization of $1.1 million noted.

Apprenticeship and Skills Shortfall Risk

Apprentices and trainee intake has grown but not to the level management desires; continued reliance on overseas recruitment historically and emphasis on need to train more local talent to support future growth.

Reliance on Large Project Pipeline with Timing Uncertainty

Significant tendered pipeline (~$2.6 billion) and major projects in early stages, but some large construction starts (e.g., certain transmission projects) may contribute more in FY27 than FY26; eastern substation revenue not yet material — timing of project commencements remains a risk to near-term revenue/margin delivery.

Elevated Near-Term CapEx and Project Investment Needs

CapEx expected to rise to $40–45 million for the year to equip for larger projects; management notes need to invest to be competitive on major projects which may pressure cash deployment despite a strong balance sheet.

Company Guidance

Management guided that after a record HY26 result — revenue $535m (up 60% on PCP), EBITDA $46.3m and statutory NPAT $24.9m — the business enters FY26 with a $2.6bn tendered pipeline and growing order book, $178m cash (net cash $127m with $22m restricted), a $429m syndicated facility providing ~$278m headroom at December, and a fully‑franked interim dividend of $0.02; segment metrics include Infrastructure revenue $345m (5.2% EBIT; Genus target 4–8% EBIT and c.5%+ on large projects), Energy & Engineering revenue $151m (EBITDA $10.9m) and Services delivering EBITDA margins in the teens. Cash flow was strong at $91m (199% cash conversion), YTD CapEx $34m with guidance of $40–45m for the year, acquisition amortisation $1.1m, injury rate 3.5 (target <3), and management said major construction volumes are more likely to contribute in FY27 while remaining active on M&A.

GenusPlus Group Ltd. Financial Statement Overview

Summary

Strong fundamentals across statements: revenue up 18.48% with very high gross margin (76.94%) and improving profitability (net margin 4.71%, EBIT 6.65%, EBITDA 7.59%). Balance sheet leverage is prudent (D/E 0.32) with strong ROE (22.14%). Cash generation is robust with free cash flow up 54.61% and solid cash conversion (OCF/NI 1.21).

Income Statement

Very Positive

GenusPlus Group Ltd. has demonstrated strong revenue growth with an 18.48% increase in the latest year, supported by a robust gross profit margin of 76.94%. The net profit margin improved to 4.71%, indicating enhanced profitability. EBIT and EBITDA margins are healthy at 6.65% and 7.59%, respectively, showing efficient operational management. The company has consistently improved its revenue and profit margins over the years, reflecting a positive growth trajectory.

Balance Sheet

Positive

The company's balance sheet is stable with a manageable debt-to-equity ratio of 0.32, indicating prudent leverage. Return on equity is strong at 22.14%, showcasing effective use of shareholder funds. The equity ratio stands at 33.92%, reflecting a solid equity base. While the company has increased its debt, the overall financial position remains sound, supporting future growth.

Cash Flow

Very Positive

GenusPlus Group Ltd. has shown impressive free cash flow growth of 54.61%, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 1.21, highlighting efficient cash conversion. The free cash flow to net income ratio of 0.89 further underscores the company's ability to generate cash relative to its earnings. The cash flow position is robust, supporting ongoing operations and potential investments.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	953.81M	751.27M	551.19M	444.18M	451.15M	318.21M
Gross Profit	379.98M	578.05M	400.06M	43.54M	311.85M	221.55M
EBITDA	79.88M	56.98M	43.11M	32.50M	32.54M	27.28M
Net Income	46.55M	35.37M	19.26M	13.41M	13.56M	13.35M
Balance Sheet
Total Assets	585.86M	470.97M	288.15M	227.42M	231.98M	155.56M
Cash, Cash Equivalents and Short-Term Investments	200.55M	94.32M	100.97M	46.74M	27.88M	34.18M
Total Debt	105.14M	51.74M	29.25M	27.73M	27.17M	19.88M
Total Liabilities	404.49M	311.19M	166.98M	122.44M	138.56M	97.85M
Stockholders Equity	181.37M	159.78M	121.17M	104.98M	93.42M	57.71M
Cash Flow
Free Cash Flow	151.93M	107.82M	68.90M	32.09M	6.60M	-4.30M
Operating Cash Flow	170.04M	120.93M	82.84M	37.79M	11.47M	6.99M
Investing Cash Flow	-60.74M	-46.36M	-15.82M	-7.31M	-24.25M	-12.42M
Financing Cash Flow	-21.92M	-14.72M	-12.79M	-11.48M	6.33M	-189.08K

GenusPlus Group Ltd. Technical Analysis

Technical Analysis Sentiment

Positive

Last Price7.99

Price Trends

50DMA

6.94

Positive

100DMA

6.64

Positive

200DMA

5.56

Positive

Market Momentum

MACD

0.19

Negative

RSI

67.42

Neutral

STOCH

84.58

Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GNP, the sentiment is Positive. The current price of 7.99 is above the 20-day moving average (MA) of 7.27, above the 50-day MA of 6.94, and above the 200-day MA of 5.56, indicating a bullish trend. The MACD of 0.19 indicates Negative momentum. The RSI at 67.42 is Neutral, neither overbought nor oversold. The STOCH value of 84.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:GNP.

GenusPlus Group Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNP	76 Outperform	AU$1.45B	30.12	25.18%	0.57%	36.30%	82.20%
CVL	69 Neutral	AU$886.75M	23.20	8.35%	4.17%	-21.57%	-34.09%
GNG	68 Neutral	AU$792.92M	28.69	50.61%	5.24%	12.96%	8.19%
SRG	66 Neutral	AU$1.79B	31.97	13.62%	1.85%	23.76%	21.18%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

* Industrials Sector Average

Performance Comparison

AU:GNP

GenusPlus Group Ltd.

7.99

5.18

184.34%

AU:SRG

SRG Global Limited

2.86

1.60

126.98%

AU:GNG

GR Engineering Services Ltd

4.67

1.82

63.97%

AU:CVL

Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh

1.74

0.83

91.84%

GenusPlus Group Ltd. Corporate Events

GenusPlus Group Declares Interim Dividend of AUD 0.02 Per Share

Feb 22, 2026

GenusPlus Group Ltd. has declared a fully paid dividend of AUD 0.02 per ordinary share for the six-month period ended 31 December 2025, with an ex-dividend date of 31 March 2026 and a record date of 1 April 2026. The payment is scheduled for 24 April 2026, signalling continued cash returns to shareholders in line with its regular half-year distribution timetable and providing income visibility for existing investors.

The announced dividend reinforces GenusPlus Group Ltd.’s commitment to shareholder distributions, indicating that the company is maintaining a capital management policy that supports periodic cash payouts. The clear timetable for ex-date, record date and payment date gives the market certainty around the upcoming distribution and may support investor sentiment toward the stock in the lead-up to the April 2026 payment.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Delivers Record Half-Year Profit on Surging Grid and Renewables Work

Feb 22, 2026

GenusPlus Group reported a strong first half for FY2026, with revenue surging 61% year-on-year to $535.4 million and normalised EBITDA up 69% to $46.3 million, supported by record NPAT of $24.9 million and robust operating cash inflow of $73.7 million. The group’s balance sheet remains solid with $178.1 million in cash, net cash of $127.0 million, a record $2.4 billion order book and a $2.6 billion tender pipeline, underpinning a maiden interim dividend and signalling confidence in sustained growth.

Management highlighted accelerating demand from renewable energy and “rewiring the nation” projects, with recurring revenue forecast to grow 20% in FY2026 and east coast operations contributing an increasing share of sales. Expanded bank guarantee and surety limits, together with strong industry tailwinds as Australia transitions from coal to clean energy, position GenusPlus to capitalise on long-term investment in transmission, distribution, solar and battery storage infrastructure.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Profit and Revenue Surge on Energy Infrastructure Growth

Feb 22, 2026

GenusPlus Group reported a strong first half for the 2025 financial year, with total revenue from ordinary activities rising 61% to $535.4 million compared with the prior corresponding period. Normalised profit after tax increased 66% to $24.9 million, while net profit attributable to members surged 82% to $24.9 million, reflecting both robust operational performance and lower normalisation adjustments.

The board declared a fully franked interim dividend of 2.0 cents per share, totalling about $3.6 million, following a fully franked final dividend of 3.6 cents per share paid in November 2025. The company’s balance sheet remained solid with net tangible assets per security broadly stable around $0.49, and its growth is underpinned by interests in several large transmission and renewable energy joint ventures, signalling continued exposure to Australia’s expanding energy infrastructure build-out.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Lifts FY2026 Earnings Guidance on Strong Segment Performance

Jan 22, 2026

GenusPlus Group Ltd has upgraded its earnings guidance for FY2026, forecasting normalised EBITDA growth of about 35% compared with the prior year’s $67.4 million, following stronger-than-expected unaudited results in its Energy & Engineering and Services segments and solid performance in Infrastructure. Management cites recent contract wins, contributions from acquisitions, a strong order book and favourable industry tailwinds linked to the national energy transition as reinforcing confidence in the company’s growth trajectory and resilience, signalling a positive outlook for shareholders and other stakeholders.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Issues New Unquoted Performance Rights Under Employee Incentive Scheme

Dec 24, 2025

GenusPlus Group Ltd has issued 396,721 new unquoted performance rights under its employee incentive scheme, with an expiry date of 1 July 2029. The move underscores the company’s continued use of equity-based incentives to align employees’ interests with long-term shareholder value, potentially strengthening staff retention and engagement without immediate dilution of quoted share capital.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Grants 396,721 Performance Rights Under Long-Term Incentive Plan

Dec 24, 2025

GenusPlus Group Ltd has issued 396,721 performance rights to key management personnel and employees under its Employee Securities Incentive Plan, reinforcing its use of equity-linked incentives to align staff rewards with long-term shareholder outcomes. The rights, granted for no upfront consideration, are subject to performance hurdles based on absolute total shareholder return between July 2025 and June 2028 and continued employment, and may be settled either in shares or cash at the board’s discretion, a structure that could impact future dilution and remuneration outcomes while tying executive incentives closely to the company’s market performance.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Seeks ASX Quotation for New Employee Incentive Shares

Dec 23, 2025

GenusPlus Group Ltd has applied to the ASX for quotation of 62,240 new fully paid ordinary shares under its employee incentive scheme. The newly issued securities are not subject to transfer restrictions, indicating the company is continuing to use equity-based remuneration to incentivise staff and align employee interests with shareholder value, although the small number of shares suggests a limited impact on overall capital structure.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Secures A$429m Syndicated Facility to Fuel Growth

Dec 19, 2025

GenusPlus Group Ltd has secured a new A$429 million secured revolving syndicated facility with Commonwealth Bank of Australia, HSBC and National Australia Bank, replacing its previous A$147 million club facility. The three-year multi-option facility significantly expands the company’s funding capacity, providing greater financial flexibility to support its ongoing growth strategy amid favourable industry conditions, and, together with existing surety bond facilities, creates substantial headroom for future expansion and capital needs.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus to Begin Construction on $140M Renewable Energy Project

Dec 17, 2025

GenusPlus Group Ltd has confirmed the commencement of construction for the Hunter-Central Coast Renewable Energy Zone sub-transmission line works, following the execution of a Project Deed with Ausgrid and the Energy Corporation of New South Wales. The contract, valued at approximately $140 million, involves significant infrastructure upgrades, including the demolition and construction of sub-transmission lines and the installation of advanced communication cables, with completion expected by Q1 2028. This project positions GenusPlus as a key player in supporting renewable energy infrastructure in Australia.

The most recent analyst rating on (AU:GNP) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on GenusPlus Group Ltd. stock, see the AU:GNP Stock Forecast page.

GenusPlus Secures Major Contract for Western Renewables Link Project

Dec 12, 2025

GenusPlus Group Ltd, in partnership with ACCIONA, has been awarded a significant contract by AusNet to construct the Western Renewables Link in Victoria, valued at approximately AUD$1.6 billion. This project, which aims to enhance Victoria’s renewable energy infrastructure, will involve the construction of a 500 kV transmission line and is expected to generate substantial economic and community benefits, including job creation and long-term advantages for the local economy.