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Korvest Ltd. (AU:KOV)
ASX:KOV
Australian Market
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Korvest Ltd. (KOV) AI Stock Analysis

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AU:KOV

Korvest Ltd.

(Sydney:KOV)

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Neutral 63 (OpenAI - 5.2)
Rating:63Neutral
Price Target:
AU$20.50
▲(18.29% Upside)
Action:Downgraded
Date:07/29/26
The score is driven primarily by healthy operating fundamentals and a conservatively financed balance sheet, offset by a meaningful deterioration in 2026 cash generation (negative free cash flow and weak earnings-to-cash conversion). Technicals are mixed but lean weaker near-term given the price below short- and medium-term moving averages, while valuation is supportive with a reasonable P/E and a strong dividend yield.
Positive Factors
Revenue Growth
Sustained top-line expansion over multiple years demonstrates durable demand for Korvest's engineered support systems across construction, infrastructure and resources. Larger revenue base supports operating scale, improves bargaining power with suppliers and underpins future reinvestment and margin stability.
Negative Factors
Deteriorating Cash Generation
A sharp decline in operating cash flow and negative free cash flow represent a meaningful shift in cash dynamics. This reduces internal funding for working capital and investments, increases reliance on external financing, and elevates execution risk if order timing, receivables or capex patterns do not normalize.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line expansion over multiple years demonstrates durable demand for Korvest's engineered support systems across construction, infrastructure and resources. Larger revenue base supports operating scale, improves bargaining power with suppliers and underpins future reinvestment and margin stability.
Read all positive factors

Korvest Ltd. (KOV) vs. iShares MSCI Australia ETF (EWA)

Korvest Ltd. Business Overview & Revenue Model

Company Description
Korvest Ltd, an Australian company founded in 1970 and based in Kilburn, operates in two primary business areas: sheet metal manufacturing and hot dip galvanizing services. Its Industrial Products division is responsible for creating a comprehensi...
How the Company Makes Money
Korvest makes money primarily by selling its manufactured and distributed product range to customers that require cable and pipe support and fastening systems for industrial and commercial projects. Revenue is generated through product sales, typi...

Korvest Ltd. Financial Statement Overview

Summary
Income statement and balance sheet are solid (strong revenue growth, steady gross margin in the high-30% range, improved EBIT margin, and low leverage with debt-to-equity ~0.24). The key drag is cash flow: 2026 operating cash flow fell sharply (~6.0M vs ~18.7M) and free cash flow turned negative (~-4.9M), with weak cash conversion (~27% of net income).
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
42
Neutral
BreakdownJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue129.54M119.57M102.89M107.48M99.22M
Gross Profit50.24M45.82M40.27M39.65M36.01M
EBITDA22.01M18.26M15.46M17.96M15.17M
Net Income12.34M13.16M11.04M11.18M11.34M
Balance Sheet
Total Assets101.73M90.38M79.55M70.66M65.91M
Cash, Cash Equivalents and Short-Term Investments0.0013.30M7.06M9.21M3.83M
Total Debt15.72M9.88M9.48M5.19M5.47M
Total Liabilities36.92M29.56M26.10M21.62M22.09M
Stockholders Equity64.81M60.82M53.45M49.04M43.83M
Cash Flow
Free Cash Flow-4.89M15.00M5.84M13.08M1.88M
Operating Cash Flow5.99M18.69M10.35M14.94M3.99M
Investing Cash Flow-10.54M-3.63M-4.44M-1.81M-1.18M
Financing Cash Flow-10.02M-8.82M-8.06M-7.75M-5.94M

Korvest Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price17.33
Price Trends
50DMA
18.67
Positive
100DMA
17.03
Positive
200DMA
15.62
Positive
Market Momentum
MACD
0.17
Negative
RSI
56.78
Neutral
STOCH
94.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KOV, the sentiment is Positive. The current price of 17.33 is below the 20-day moving average (MA) of 17.71, below the 50-day MA of 18.67, and above the 200-day MA of 15.62, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 56.78 is Neutral, neither overbought nor oversold. The STOCH value of 94.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:KOV.

Korvest 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
71
Outperform
AU$212.59M11.6511.28%10.12%-0.15%307.55%
69
Neutral
AU$325.09M20.149.11%5.59%25.68%-11.47%
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
63
Neutral
AU$219.48M17.8319.69%4.23%8.34%-6.22%
63
Neutral
AU$90.35M5.0712.51%8.62%10.91%-28.61%
60
Neutral
AU$139.68M-18.23-12.62%2.78%-2.60%-168.93%
44
Neutral
AU$89.31M-7.01-50.97%-36.31%-245.99%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:KOV
Korvest Ltd.
18.90
5.68
43.02%
AU:ANG
Austin Engineering
0.16
-0.14
-46.74%
AU:MCE
Matrix Composites & Engineering Ltd
0.40
0.10
34.58%
AU:FWD
Fleetwood Limited
2.34
-0.12
-4.96%
AU:ACF
Acrow Formwork and Construction Services Limited
0.92
-0.06
-5.83%
AU:SND
Saunders International Limited
0.94
0.12
14.63%

Korvest Ltd. Corporate Events

Korvest Issues Minor Correction to 2026 Annual Report
Aug 3, 2026
Korvest Ltd has issued a correction to its 2026 Annual Report after identifying a typographical error in the statement of profit or loss and other comprehensive income. The previously reported 2026 income tax expense figure of (5,541) has been rev...
Korvest Director’s Performance Rights Lapse After Incentive Period
Jul 28, 2026
Korvest Ltd has disclosed a change in director Steven McGregor’s holdings following the lapse of a tranche of performance rights. As of 27 July 2026, McGregor’s performance rights decreased by 9,100 to 36,622, while his ordinary shareh...
Korvest performance rights lapse after conditions unmet
Jul 28, 2026
Korvest Ltd has announced the lapse of 34,508 performance rights, identified under the ASX security code KOVAI, after conditions attached to these rights were not met or became incapable of being satisfied. The cessation of these conditional secur...
Korvest Boosts Capacity as Earnings Momentum Builds into FY27
Jul 28, 2026
Korvest Ltd is building out its national footprint in industrial infrastructure supplies, expanding warehouse capacity in New South Wales to support rising east-coast data centre projects and relocating its Western Australia and Queensland EzyStru...
Korvest lifts revenue and capacity as infrastructure and data centre demand builds
Jul 28, 2026
Korvest reported revenue of $129.54 million for FY26, up 8.3% year-on-year, driven by stronger day-to-day and small project markets and buoyant demand linked to data centre development. Directors declared a fully franked final dividend of 40 cents...
Korvest outlines governance framework and gender diversity progress
Jul 28, 2026
Korvest Ltd has detailed its corporate governance framework, underscoring the board’s central role in safeguarding and enhancing long-term shareholder value while delegating day-to-day operations to the managing director and senior executive...
Korvest Files 2026 ASX Governance Statement and Appendix 4G
Jul 28, 2026
Korvest Ltd. has lodged its corporate governance statement and completed Appendix 4G with the ASX for the financial year ended 30 June 2026, confirming compliance with listing rule disclosure obligations. The statement, current as of 27 July 2026,...
Korvest lifts revenue but profit eases as major project tailwind fades
Jul 28, 2026
Korvest Ltd reported an 8.3% rise in revenue to A$129.5 million for the year ended 30 June 2026, driven by growth in day-to-day and small projects markets. Despite higher sales, profit after tax attributable to members fell 5.7% to A$12.4 million ...
Korvest Director Reduces Shareholding in On‑Market Trade
Jun 25, 2026
Korvest Ltd has reported a change in the shareholding of director Gary Nigel Francis, whose interest is held directly in his and his spouse’s names. The filing does not include further operational or strategic information about the company.F...
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.Date of analysis: Jul 29, 2026