MAAS Group Holdings Ltd. (AU:MGH)
ASX:MGH
Top Page
MAAS Group Holdings Ltd.
(Sydney:MGH)
Select Model
Select Model
Rating:66Neutral
Price Target:
AU$5.00
▲(8.93% Upside)
Action:ReiteratedDate:03/26/26
The score is primarily driven by solid top-line growth and healthy gross profitability, offset by weaker cash flow trends and higher leverage. Valuation is supportive (P/E ~13 with a ~1.5% yield), while technicals are mixed-to-soft with the price below key short- and mid-term moving averages.
Positive Factors
Revenue Growth
MAAS’s reported revenue growth indicates expanding contract wins and stronger project throughput across construction and property segments. Durable top-line expansion supports scale economies, backlog replenishment and pricing leverage, improving long-term capacity to invest in equipment and staffing.
Negative Factors
Weak Cash Flow
Declining operating cash flow and negative free cash flow growth reduce the firm’s internal funding capacity for working capital and capex. Over multi-month horizons this necessitates external financing, increasing cost and execution risk on long-dated projects and constraining strategic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
MAAS’s reported revenue growth indicates expanding contract wins and stronger project throughput across construction and property segments. Durable top-line expansion supports scale economies, backlog replenishment and pricing leverage, improving long-term capacity to invest in equipment and staffing.
Read all positive factors
MAAS Group Holdings Ltd. (MGH) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.65B
Dividend Yield1.3%
Average Volume (3M)517.76K
Price to Earnings (P/E)13.0
Beta (1Y)1.22
Revenue Growth15.14%
EPS Growth-7.23%
CountryAU
Employees1,800
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.11
Shares Outstanding361,333,280
10 Day Avg. Volume351,659
30 Day Avg. Volume517,758
Financial Highlights & Ratios
PEG Ratio-4.48
Price to Book (P/B)1.67
Price to Sales (P/S)1.42
P/FCF Ratio45.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.01Price Target Upside9.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.27
Revenue Forecast (FY)AU$1.32B
MAAS Group Holdings Ltd. Business Overview & Revenue Model
Company Description
MAAS Group Holdings Limited, together with subsidiaries, provides construction materials, equipment, and services for civil, infrastructure, and mining sectors in Australia and internationally. The company operates through Civil, Construction, and...
How the Company Makes Money
MGH makes money primarily by earning revenue from (1) contracting and project delivery in civil construction and infrastructure services and (2) property development and related real estate activities. In its construction/infrastructure operations...
MAAS Group Holdings Ltd. Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.20B | 1.03B | 895.06M | 789.32M | 509.89M | 273.12M |
| Gross Profit | 278.11M | 538.08M | 484.87M | 192.08M | 255.55M | 138.86M |
| EBITDA | 212.81M | 207.75M | 200.04M | 159.46M | 124.56M | 70.44M |
| Net Income | 78.56M | 71.96M | 72.96M | 65.90M | 61.56M | 34.57M |
Balance Sheet | ||||||
| Total Assets | 1.99B | 1.99B | 1.59B | 1.44B | 946.93M | 489.21M |
| Cash, Cash Equivalents and Short-Term Investments | 93.29M | 102.77M | 85.48M | 69.37M | 52.45M | 19.76M |
| Total Debt | 782.28M | 801.16M | 626.08M | 545.21M | 329.49M | 156.89M |
| Total Liabilities | 1.07B | 1.10B | 905.73M | 814.55M | 490.98M | 234.81M |
| Stockholders Equity | 911.92M | 876.19M | 678.63M | 626.88M | 455.95M | 254.40M |
Cash Flow | ||||||
| Free Cash Flow | 57.31M | 32.20M | 56.49M | -79.70M | -51.65M | 5.96M |
| Operating Cash Flow | 108.18M | 67.83M | 113.38M | 2.56M | 7.45M | 44.28M |
| Investing Cash Flow | -284.32M | -288.70M | -114.03M | -267.60M | -210.43M | -69.61M |
| Financing Cash Flow | 183.97M | 238.15M | 16.77M | 281.95M | 237.43M | 30.88M |
MAAS Group Holdings Ltd. Technical Analysis
Negative
4.59
Price Trends
4.86
Negative
4.81
Negative
4.55
Positive
Market Momentum
0.03
Positive
43.48
Neutral
62.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGH, the sentiment is Negative. The current price of 4.59 is below the 20-day moving average (MA) of 4.86, below the 50-day MA of 4.86, and above the 200-day MA of 4.55, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 43.48 is Neutral, neither overbought nor oversold. The STOCH value of 62.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MGH.
MAAS Group Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$1.20B | 12.85 | 12.08% | 2.43% | 1.65% | 84.19% | |
66 Neutral | AU$1.65B | 12.97 | 9.26% | 1.30% | 15.14% | -7.23% | |
66 Neutral | AU$1.59B | 17.28 | 13.62% | 1.85% | 23.76% | 21.18% | |
65 Neutral | AU$2.86B | 10.17 | 20.27% | 2.65% | 7.20% | 32.60% | |
64 Neutral | AU$2.55B | 8.10 | 7.79% | 3.20% | 12.18% | -73.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
AU:MGH
MAAS Group Holdings Ltd.
4.57
0.80
21.22%
AU:MND
Monadelphous Group Limited
28.63
13.65
91.15%
AU:SSM
Service Stream Limited
1.95
0.23
13.08%
AU:NWH
NRW Holdings Limited
5.56
2.86
106.00%
AU:SRG
SRG Global Limited
2.54
1.38
118.40%
MAAS Group Holdings Ltd. Corporate Events
Maas Group Reshapes Insider Shareholdings Across Family Trusts
Mar 25, 2026
Maas Group Holdings has disclosed changes in the way its managing director Wesley Jon Maas’s indirect interests in the company’s shares are structured, without altering the overall volume of securities reported as acquired or disposed....
Maas Group Issues Shares as Deferred Consideration for Macquarie Geotechnical Deal
Mar 9, 2026
Maas Group Holdings has issued 448,895 fully paid ordinary shares as part of the deferred consideration for its earlier acquisition of Macquarie Geotechnical Pty Ltd, originally announced in December 2020. The company has lodged a cleansing notice...
MAAS Group Seeks ASX Quotation for 448,895 New Shares
Mar 9, 2026
MAAS Group Holdings Ltd. has applied to the ASX for quotation of 448,895 new ordinary fully paid shares, with an issue date of March 9, 2026. The additional securities arise from previously announced transactions, modestly expanding the company...
MAAS Group Begins Daily On‑Market Share Buy‑Back
Feb 25, 2026
MAAS Group Holdings Limited has issued an update announcing the execution of an on‑market share buy‑back of its ordinary fully paid shares under its existing program. The company reported that 172,395 shares were bought back on the pre...
MAAS Group Declares Interim Dividend for Half‑Year to December 2025
Feb 23, 2026
MAAS Group Holdings has declared a dividend of AUD 0.035 per ordinary fully paid share, relating to the six‑month period ended 31 December 2025. The dividend will trade ex‑dividend on 31 March 2026, with a record date of 1 April 2026 a...
MAAS Group lifts profit, upgrades guidance as Heidelberg CM sale advances
Feb 23, 2026
MAAS Group Holdings has reported a 26% increase in underlying NPAT for the first half of FY26 compared with the prior corresponding period, reflecting strong operational performance and disciplined capital allocation. The company has upgraded its ...
MAAS Group Delivers Double-Digit Profit and Revenue Growth in First Half 2025
Feb 23, 2026
MAAS Group Holdings reported strong growth for the half-year ended 31 December 2025, with revenues from ordinary activities rising 34.9% to $639.3 million and underlying revenue up 32.5% to $607.7 million. Underlying EBITDA increased 21.4% to $115...
MAAS Group Updates Market on Ongoing On‑Market Share Buy‑Back
Feb 10, 2026
MAAS Group Holdings Ltd. has provided an updated notification to the ASX confirming the continuation of its on-market share buy-back program for its ordinary fully paid shares under code MGH. The latest daily update, dated 11 February 2026, report...
Maas Group CEO Wesley Maas Increases Indirect Stake Through Added Shares and Performance Rights
Feb 10, 2026
Maas Group Holdings has disclosed a change in managing director Wesley Jon Maas’s indirect interests in the company’s securities, reflecting additional holdings across several family-related entities and custodial arrangements. The tra...
MAAS Group Updates Daily On‑Market Share Buy‑Back Totals
Feb 9, 2026
MAAS Group Holdings Ltd. is an ASX-listed company whose ordinary fully paid shares trade under the ticker MGH, reflecting its role as a publicly listed industrial business in the Australian market. The company’s capital structure is actively...
MAAS Group Updates ASX on Progress of On-Market Share Buy-Back
Feb 8, 2026
MAAS Group Holdings Ltd. has provided an updated notification to the ASX regarding its on-market share buy-back of ordinary fully paid shares. The company reported that a total of 1,884,437 securities had been repurchased prior to the previous tra...
MAAS Group Updates Market on Progress of On‑Market Share Buy-Back
Feb 5, 2026
MAAS Group Holdings 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 update dated 6 February 2026, the company has repurchased a cum...
Maas Group to Sell Construction Materials Division to Heidelberg for Up to $1.7bn
Feb 4, 2026
Maas Group Holdings Limited has agreed to sell its Construction Materials division, including related subsidiaries and assets such as Nationwide Machinery Sales and Yatala Quarry, to Heidelberg Materials Australia for up to $1.703 billion in cash,...
MAAS Group Issues 823,391 Unquoted Performance Rights Under Staff Incentive Plan
Feb 4, 2026
MAAS Group Holdings has issued 823,391 unquoted performance rights under its employee incentive scheme, with these securities subject to transfer restrictions and not quoted on the ASX until those restrictions lapse. The move underscores the compa...
MAAS Group Launches On-Market Share Buy-Back Program
Feb 3, 2026
MAAS Group Holdings Limited has announced a new on-market share buy-back of its ordinary fully paid shares (ASX code: MGH). The program signals management’s intention to actively manage its capital structure and may provide support for the c...
Maas Group Extends 10% On-Market Share Buyback for Another Year
Feb 3, 2026
Maas Group Holdings has secured Board approval to extend its existing on‑market share buyback program, allowing the company to repurchase up to 10% of its issued ordinary share capital for a further 12 months. The extension is aimed at enhan...
Perpetual Exits Substantial Shareholding in Maas Group Holdings
Jan 8, 2026
Perpetual Limited and its related bodies corporate have notified Maas Group Holdings Limited that they have ceased to be a substantial shareholder in the company as of 6 January 2026, under the disclosure requirements of the Corporations Act. The ...
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.