Want to see AU:LYL full AI Analyst Report?
Top Page
Lycopodium Limited
(Sydney:LYL)
Select Model
Select Model
Rating:72Outperform
Price Target:
AU$21.00
â–˛(67.73% Upside)
Action:Upgraded
Date:06/25/26
The score is driven primarily by strong financial quality (high margins, low leverage, strong ROE) and supportive technical trend (price above all major moving averages). These positives are tempered by weaker growth signals in fundamentals (slightly negative revenue growth and declining free cash flow growth), moderate valuation (P/E ~20.9 with a 2.55% yield), and earnings-call timing risk from project delays and revised guidance despite a strong pipeline.
Positive Factors
High margins and strong ROE
Sustained high gross and healthy net margins alongside a 27.8% ROE indicate durable operational efficiency and profitable project structuring. This margin profile supports reinvestment, dividend capacity and resilience to pricing pressure across project-led cycles over the next 2–6 months.
Negative Factors
Soft revenue and negative FCF growth
Modest revenue decline and falling free cash flow growth weaken cash conversion dynamics; if sustained this could constrain discretionary investment and dividend sustainability. Persistent FCF erosion would pressure working capital and reduce margin leverage across project timing cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
High margins and strong ROE
Sustained high gross and healthy net margins alongside a 27.8% ROE indicate durable operational efficiency and profitable project structuring. This margin profile supports reinvestment, dividend capacity and resilience to pricing pressure across project-led cycles over the next 2–6 months.
Read all positive factors
Lycopodium Limited (LYL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$744.85M
Dividend Yield2.51%
Average Volume (3M)40.13K
Price to Earnings (P/E)20.3
Beta (1Y)0.62
Revenue Growth1.87%
EPS Growth-23.48%
CountryAU
Employees1,300
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.91
Shares Outstanding39,740,227
10 Day Avg. Volume32,833
30 Day Avg. Volume40,132
Financial Highlights & Ratios
PEG Ratio-0.57
Price to Book (P/B)2.71
Price to Sales (P/S)1.23
P/FCF Ratio11.68
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)1.16
Revenue Forecast (FY)AU$435.00M
Lycopodium Limited Business Overview & Revenue Model
Company Description
Established in 1992 and based in East Perth, Australia, Lycopodium Limited provides expert engineering and complete project execution solutions across the natural resources, infrastructure, and industrial manufacturing sectors. The company operate...
How the Company Makes Money
Lycopodium primarily makes money by delivering professional services and project delivery work to customers, with revenue largely generated from contracts linked to the development, expansion, or optimization of industrial and resources projects. ...
Lycopodium Limited Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
The call presented a generally positive underlying business performance: solid H1 revenue ($174.5M), NPAT ($18.3M) and a strong opportunity pipeline ($1.3B) alongside reinstated dividends and geographic expansion. The main negatives were timing delays on several material projects (e.g., Blackwater ~3–4 months), a slower-than-expected near-term contribution from SAXUM, softer Q2 utilization and carrying costs from pre-emptive capacity builds. Management expects utilization and revenues to recover in H2 and FY27 driven by the strong study/FEED pipeline. Overall, the positive metrics, pipeline and balance sheet strength outweigh the timing and short-term operational challenges.Positive Updates
Revenue and Profitability for H1 FY26
Reported revenue of $174.5 million and NPAT of $18.3 million for the half, delivering a NPAT margin of 10.5%, in line with management's target.
Negative Updates
Timing Delays on Material Projects
Notable shift-to-the-right for material projects (Blackwater flagged as ~3–4 month delay), which has impacted forecasts and timing of revenue recognition for the group.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Profitability for H1 FY26
Reported revenue of $174.5 million and NPAT of $18.3 million for the half, delivering a NPAT margin of 10.5%, in line with management's target.
Read all positive updates
Company Guidance
Management revised FY26 guidance to group revenue of $370–$410 million and NPAT of $37–$41 million (around a 10% NPAT margin), noting H1 results of $174.5 million revenue and $18.3 million NPAT (10.5% margin) — implying H2 needs about $195.5–$235.5 million revenue and $18.7–$22.7 million NPAT to meet guidance; committed contracts total $415 million and the revenue opportunity pipeline is $1.3 billion, the Board declared a $0.22 per share fully‑franked interim dividend, and management said a ~3–4 month timing shift on major prospects (notably Blackwater) drove the revision while they continue to invest in capacity across Perth, Toronto, Cape Town, Lima and Manila and expect a strong second half.Lycopodium Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 341.89M | 333.94M | 344.55M | 323.88M | 228.71M | 158.06M |
| Gross Profit | 75.00M | 307.69M | 312.49M | 80.35M | 42.38M | 42.99M |
| EBITDA | 55.00M | 67.82M | 74.55M | 70.48M | 45.64M | 25.95M |
| Net Income | 35.22M | 42.22M | 50.71M | 46.78M | 27.18M | 14.20M |
Balance Sheet | ||||||
| Total Assets | 264.32M | 241.08M | 217.04M | 219.83M | 224.12M | 169.66M |
| Cash, Cash Equivalents and Short-Term Investments | 80.02M | 79.67M | 68.19M | 82.41M | 100.95M | 76.84M |
| Total Debt | 26.79M | 16.42M | 12.33M | 15.70M | 16.65M | 17.90M |
| Total Liabilities | 105.85M | 90.61M | 89.60M | 106.87M | 124.45M | 81.99M |
| Stockholders Equity | 155.94M | 151.87M | 128.06M | 114.64M | 100.50M | 88.38M |
Cash Flow | ||||||
| Free Cash Flow | 33.85M | 35.24M | 26.76M | 15.38M | 37.72M | -15.82M |
| Operating Cash Flow | 36.95M | 37.21M | 27.84M | 19.79M | 41.68M | -12.91M |
| Investing Cash Flow | -10.03M | -922.21K | 1.26M | -4.45M | 655.17K | -2.61M |
| Financing Cash Flow | -25.42M | -24.76M | -40.38M | -34.05M | -18.51M | -11.74M |
Lycopodium Limited Technical Analysis
Positive
12.52
Price Trends
15.68
Positive
14.54
Positive
13.94
Positive
Market Momentum
0.76
Positive
59.17
Neutral
68.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:LYL, the sentiment is Positive. The current price of 12.52 is below the 20-day moving average (MA) of 18.14, below the 50-day MA of 15.68, and below the 200-day MA of 13.94, indicating a bullish trend. The MACD of 0.76 indicates Positive momentum. The RSI at 59.17 is Neutral, neither overbought nor oversold. The STOCH value of 68.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:LYL.
Lycopodium Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$824.20M | 27.76 | 42.55% | 5.24% | -16.50% | -24.00% | |
72 Outperform | AU$744.85M | 20.26 | 22.89% | 2.51% | 1.87% | -23.48% | |
69 Neutral | AU$922.42M | 24.43 | 5.61% | 4.17% | -34.08% | -36.57% | |
64 Neutral | AU$5.18B | 32.79 | 7.97% | 3.11% | -4.99% | 120.98% | |
64 Neutral | AU$3.27B | 62.88 | 7.79% | 3.20% | 14.40% | -57.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | AU$2.85B | 25.96 | 20.27% | 2.65% | 26.80% | 40.18% |
* Industrials Sector Average
AU:LYL
Lycopodium Limited
18.44
7.18
63.69%
AU:DOW
Downer EDI Limited
7.87
1.39
21.49%
AU:MND
Monadelphous Group Limited
27.79
10.52
60.93%
AU:NWH
NRW Holdings Limited
6.90
3.95
133.98%
AU:GNG
GR Engineering Services Ltd
4.92
1.73
54.23%
AU:CVL
Civmec Singapore Limited Shs Chess Deposit Interests Repr 1 Sh
1.81
0.68
60.87%
Lycopodium Limited Corporate Events
Lycopodium Wins Early Works Role on Ausgold’s Katanning Gold Project
Jul 7, 2026
Lycopodium has been named preferred engineering, procurement and construction contractor for Ausgold’s Katanning Gold Project in Western Australia and has secured an A$6 million Early Works Agreement. The contract covers detailed engineering...
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.