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Mayfield Group Holdings Limited (AU:MYG)
ASX:MYG
Australian Market

Mayfield Group Holdings Limited (MYG) AI Stock Analysis

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AU:MYG

Mayfield Group Holdings Limited

(Sydney:MYG)

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Outperform 70 (OpenAI - 5.2)
,
Outperform 70 (OpenAI - 5.2)
,
Outperform 70 (OpenAI - 5.2)
,
Outperform 70 (OpenAI - 5.2)
,
Outperform 70 (OpenAI - 5.2)
,
Outperform 70 (OpenAI - 5.2)
Rating:70Outperform
Price Target:
AU$2.00
▲(5.26% Upside)
Action:UpgradedDate:12/03/25
Mayfield Group Holdings Limited demonstrates strong financial performance with robust revenue growth and efficient cost management. The technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The valuation suggests the stock may be overvalued, which could limit upside potential.
Positive Factors
Balance sheet strength
Mayfield's very low leverage (debt/equity 0.07), robust 19.49% ROE and a 52.6% equity ratio provide durable financial flexibility. This reduces refinancing and solvency risk, enabling investment in capex, bidding for bigger projects or weathering downturns without heavy external funding.
Cash generation
Strong cash conversion—45.14% FCF growth and operating cash flow > net income—indicates sustainable internal funding. Reliable FCF supports reinvestment in manufacturing capacity, working capital for projects and discretionary uses, lowering dependence on external capital over the medium term.
Revenue and gross margin
Consistent revenue expansion with a 19.4% yearly increase and a 45.6% gross margin suggests differentiated engineered products and efficient manufacturing. High gross margins provide enduring absorption of input cost swings and underpin margin expansion potential as scale increases.
Negative Factors
Modest net margins
Despite strong gross margins, a 5.72% net margin indicates substantial overhead, project cost variability or SG&A pressure. Persistently low net margins limit retained earnings and buffer against shocks, constraining the company’s ability to fund growth or return capital consistently.
Project/service mix risk
Mayfield's hybrid model of engineered products and labour-intensive contracting creates durable revenue and margin cyclicality. Project timing, contract wins and the higher volatility of services can cause uneven cash flows and margin compression compared with stable recurring-revenue business models.
Scale constraints
A relatively small workforce (187 employees) can limit internal capacity for large or multiple simultaneous national projects. This structural scale constraint increases reliance on subcontractors or measured growth, which can pressure margins and execution consistency as the company pursues larger contracts.

Mayfield Group Holdings Limited (MYG) vs. iShares MSCI Australia ETF (EWA)

Mayfield Group Holdings Limited Business Overview & Revenue Model

Company DescriptionMayfield Group Holdings Limited, together with its subsidiaries, provides electrical and telecommunications infrastructure products and services in Australia. It offers switchboards and transportable switch rooms for critical electrical infrastructure. The company also engages in the project management, engineering, design, manufacture, installation, and commissioning of electrical infrastructure. In addition, it provides electrical test and measurement instruments; generator, UPS, and battery products for critical power systems; and replacement, repair, and maintenance services. Further, the company manufactures protection systems and control panels for medium and high voltage systems, communication panels, and PLC and process control panels. Additionally, it engages in the design, site building, equipment supply, and installation of monopoles, towers, antennas, and masts, as well as network commissioning, project management, and onsite maintenance support. The company was founded in 1936 and is based in Edinburgh, Australia.
How the Company Makes MoneyMYG makes money primarily by selling electrical engineering and manufacturing products and by delivering project and service work. Its revenue model typically combines: (1) product/manufacturing revenue from the design and manufacture of electrical switchboards and related power distribution and control systems, earned through sales to customers and/or supply as part of larger projects; and (2) contracting and services revenue from electrical installation, commissioning, maintenance, and other field services, earned via project-based contracts and recurring service agreements. Earnings are influenced by the volume and value of customer projects in sectors requiring electrical infrastructure, the mix of higher-margin engineered/manufactured products versus labour-based services, and its ability to win and deliver contracts on time and within cost. Specific material partnerships, customer concentration, or segment-level revenue splits: null.

Mayfield Group Holdings Limited Financial Statement Overview

Summary
Mayfield Group Holdings Limited exhibits strong financial health with robust revenue growth and efficient cost management. The balance sheet is solid with low leverage and high return on equity. Cash flow generation is strong, supporting the company's operational and strategic initiatives. However, there is potential to enhance profitability margins further.
Income Statement
78
Positive
Mayfield Group Holdings Limited has demonstrated strong revenue growth, with a 19.42% increase in the latest year. The gross profit margin is healthy at 45.61%, indicating efficient cost management. The net profit margin is modest at 5.72%, suggesting room for improvement in profitability. EBIT and EBITDA margins are stable, reflecting consistent operational performance.
Balance Sheet
82
Very Positive
The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.07, indicating low financial leverage and reduced risk. Return on equity is robust at 19.49%, showcasing effective use of equity capital. The equity ratio of 52.60% signifies a solid equity base relative to total assets.
Cash Flow
75
Positive
Cash flow performance is commendable, with a significant free cash flow growth rate of 45.14%. The operating cash flow to net income ratio of 1.41 indicates strong cash generation relative to net income. The free cash flow to net income ratio of 0.92 suggests efficient conversion of earnings into cash.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue145.64M118.14M85.52M77.58M82.03M60.63M
Gross Profit41.21M53.88M42.57M41.74M36.60M31.30M
EBITDA14.77M10.44M6.97M6.30M-428.12K5.05M
Net Income9.29M6.76M5.10M5.80M-1.81M2.58M
Balance Sheet
Total Assets105.02M65.95M57.35M49.12M43.88M41.54M
Cash, Cash Equivalents and Short-Term Investments49.15M16.92M16.32M4.95M2.64M1.39M
Total Debt8.20M2.33M3.26M3.86M8.55M7.87M
Total Liabilities31.99M31.26M23.20M19.32M22.48M23.62M
Stockholders Equity73.03M34.69M34.15M29.80M21.40M17.92M
Cash Flow
Free Cash Flow17.68M8.78M15.27M7.72M773.19K-9.93M
Operating Cash Flow18.19M9.51M16.07M8.63M1.75M-505.42K
Investing Cash Flow-4.39M-708.19K-331.37K-848.81K2.39M-5.31M
Financing Cash Flow23.97M-8.20M-4.36M-5.48M-2.89M4.55M

Mayfield Group Holdings Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.90
Price Trends
50DMA
2.76
Negative
100DMA
2.52
Negative
200DMA
1.88
Positive
Market Momentum
MACD
-0.17
Positive
RSI
33.73
Neutral
STOCH
4.47
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MYG, the sentiment is Negative. The current price of 1.9 is below the 20-day moving average (MA) of 2.45, below the 50-day MA of 2.76, and above the 200-day MA of 1.88, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 33.73 is Neutral, neither overbought nor oversold. The STOCH value of 4.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MYG.

Mayfield Group Holdings Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
AU$1.25B52.40191.25%19.43%
70
Outperform
AU$216.27M17.0219.64%1.10%37.80%28.88%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
61
Neutral
AU$34.58M-77.514.70%4.66%14.59%-11.13%
50
Neutral
AU$15.99M0.9226.81%-21.60%-657.00%
41
Neutral
AU$72.10M-1.75-60.02%9.67%31.03%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MYG
Mayfield Group Holdings Limited
1.90
0.95
100.11%
AU:ELS
Elsight Ltd.
5.66
5.31
1517.14%
AU:ASV
Asset Vision
0.04
>-0.01
-7.50%
AU:VR1
Vection Technologies Ltd.
0.03
<0.01
33.33%
AU:COS
Cosol Limited
0.19
-0.57
-75.00%
AU:BCC
Beam Communications Holdings Limited
0.19
0.09
94.74%

Mayfield Group Holdings Limited Corporate Events

Mayfield Group Joins All Ordinaries in S&P Dow Jones March Rebalance
Mar 10, 2026

S&P Dow Jones Indices has updated its March 2026 quarterly rebalance of the All Ordinaries index, reversing earlier changes involving African Gold Limited and American Rare Earths Limited while confirming a broad set of new inclusions. The revised list adds Mayfield Group Holdings Limited alongside numerous mining, energy transition, technology, and media companies, signaling wider index representation for emerging and mid-cap names and potentially improving liquidity, visibility, and capital markets access for the newly added constituents.

These index changes, effective before trading on March 23, 2026, underscore the continued prominence of resources and energy-transition businesses on the Australian market, as well as selective growth in healthcare, tech, and consumer names. For Mayfield Group Holdings, entry into the All Ordinaries is likely to enhance its institutional investor reach and embed the stock more firmly within benchmark-driven portfolios, which can influence trading volumes and long-term shareholder engagement.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Resource Stocks Drive Major Shake-Up in March S&P/ASX Rebalance
Mar 6, 2026

S&P Dow Jones Indices has announced a broad reshuffle across the S&P/ASX index family for the March 2026 quarterly rebalance, effective before the market opens on 23 March. The moves reflect shifts in market capitalisation and sector performance, with resource-focused companies gaining prominence at the expense of several financial, infrastructure and technology names.

Northern Star Resources will join the S&P/ASX 20, replacing Santos, while Light & Wonder and PLS Group enter the S&P/ASX 50 as Seek and Technology One exit. The S&P/ASX 100, 200 and 300 will see multiple additions dominated by gold, rare earths, lithium and other resource-related stocks, changes that are likely to influence index-tracking funds, portfolio allocations and investor flows across the Australian equity market.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Positions Itself as Backbone of Australia’s Electrified Future
Feb 27, 2026

Mayfield Group is emphasizing its role as a foundational provider of electrical infrastructure that underpins emerging technologies such as solar farms, high-speed data networks and electric vehicles. By delivering reliable, intelligent power networks for key sectors including energy, data, defence and mining, the company positions itself as an essential enabler of Australia’s electrified and AI-driven future, reinforcing its strategic importance to national progress and critical projects.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Doubles Profit on Surging Manufacturing Sales and Expands Capacity
Feb 27, 2026

Mayfield Group Holdings reported a strong first half to 31 December 2025, with revenue rising 52.8% to $79.5 million, driven mainly by manufacturing and product sales, while services revenue eased as the company refocused on maintaining its own products and telecom services. Net profit after tax jumped 127.6% to $4.5 million, with margins improving on higher efficiency and better project performance, supporting investment in new properties to expand capacity in South Australia and Western Australia and enabling fully franked dividends, including a recently declared interim payout.

The group’s net tangible assets per share rose to 59.08 cents from 33.24 cents, reflecting a stronger balance sheet and the benefits of improved operational execution. A robust order book is underpinning capacity expansion plans into 2027, signaling confidence in future demand and reinforcing Mayfield’s position in its manufacturing markets while delivering increased returns to shareholders through fully franked dividends.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Declares Interim Dividend for Half-Year to December 2025
Feb 26, 2026

Mayfield Group Holdings Limited has declared an interim dividend of AUD 0.02 per ordinary fully paid share for the six-month period ended 31 December 2025, with an ex-dividend date of 4 March 2026 and a record date of 5 March 2026. The dividend, scheduled for payment on 19 March 2026, signals continued capital returns to shareholders and underscores the company’s capacity to generate distributable earnings over the latest half-year period.

The cash distribution timetable, including the March record and payment dates, provides clarity for investors planning around income and reinvestment decisions. This announcement reinforces Mayfield Group’s commitment to regular shareholder returns, which may support its appeal to income-focused investors and reflects confidence from the board in the company’s recent financial performance.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Moves to Bolster Mining Focus With $30m SMEC Power Deal
Feb 25, 2026

Mayfield Group Holdings Limited has agreed to acquire the business assets and undertakings of SMEC Power & Technology, also known as Southern Mining Electrical Contractors, in an asset sale valued at $30 million on a cash‑free, debt‑free basis. The deal, struck at a 5.0x EBITDA multiple, is structured with 70% upfront consideration in a mix of cash and scrip and a further 30% earn‑out linked to FY2026 EBITDA performance.

The acquisition, targeted for completion on 31 March 2026 subject to conditions precedent, is designed to deepen Mayfield’s mining sector exposure and expand its electrical contracting capabilities. With a 24‑month escrow on all share consideration and an earn‑out contingent on SMEC meeting a $6 million EBITDA target, the transaction aligns incentives and signals confidence in the acquired business’s future contribution to Mayfield’s growth and mining‑focused strategy.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group to Acquire SMEC Power & Technology in $30m Mining Push
Feb 25, 2026

Mayfield Group Holdings has agreed to acquire the business assets of SMEC Power & Technology, a leading Australian manufacturer of underground electrical starter panels, switchboards and substations for the mining industry, for up to $30 million on a cash-free, debt-free basis. Funded from existing cash reserves and Mayfield scrip, the deal values SMEC at roughly five times forecast FY26 EBITDA, with founder Martin Law and his senior team remaining to ensure continuity and preserve relationships with major Western Australian gold producers.

The transaction marks Mayfield’s second major acquisition in a year and is positioned as a key step in its ambition to become Australia’s pre-eminent electrical infrastructure group, adding exposure to high-growth underground and in-pit mining, plus established export channels into Africa and Asia. SMEC’s kiosk substation and switchboard capabilities are expected to create synergies with Mayfield’s existing renewables and data centre businesses, broadening its integrated offering from design and manufacturing through to installation, commissioning and maintenance while maintaining a strong balance sheet.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Declares Fully Franked Interim Dividend and Signals Ongoing Payouts
Jan 29, 2026

Mayfield Group Holdings has declared a fully franked interim dividend of 2 cents per share, totaling $2.314 million, for the half-year to 31 December 2025, with the payment scheduled for 19 March 2026 following an early March ex-dividend and record date. The board signalled its intention to maintain six‑monthly, fully franked dividend payments over the foreseeable future, underscoring confidence in the company’s earnings profile and cash generation and offering income visibility for shareholders as it continues to position itself as a dependable partner in Australia’s critical power infrastructure sector.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$3.50 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Flags Sharp Profit Rise in December 2025 Half
Jan 27, 2026

Mayfield Group Holdings has issued earnings guidance indicating that unaudited net profit after tax for the half year ended 31 December 2025 is expected to be about $4.9 million, more than double the $1.98 million recorded in the prior corresponding half and a strong performance relative to the $7.47 million reported for the full year to 30 June 2025. The sharp uplift in interim profitability underscores the company’s growing momentum in supplying critical electrical infrastructure to key sectors such as energy, data centres and defence, reinforcing its position as a trusted Australian manufacturing partner and potentially signalling improved returns and increased confidence for its customer base and other stakeholders.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$3.60 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Director Andrew Rowe Cuts Holding via Off-Market Share Sale
Dec 23, 2025

Mayfield Group Holdings Limited has disclosed a change in the shareholding of director Andrew Rowe, in line with Australian Securities Exchange reporting requirements. The notice records that Rowe executed an off-market sale of 631,907 partly paid shares on 23 December 2025 for consideration of $884,671, reducing his direct holding from 2,197,802 to 1,565,895 partly paid shares, with no change reported in any related contracts or during a closed trading period, indicating a routine adjustment to his personal stake rather than a company-level capital action.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Director Simon Higgins Increases Stake With $884,671 Off-Market Share Purchase
Dec 23, 2025

Mayfield Group Holdings Limited has disclosed a change in director Simon Higgins’ interests, with Higgins, via the Higgins Investment Trust, acquiring 631,907 ordinary fully paid shares in the company for a total consideration of $884,671 through an off-market purchase. The transaction, which leaves Higgins with 631,907 shares and involved no disposals or related contracts, signals a significant increase in his indirect stake in the company, a move that may be interpreted by investors as a vote of confidence in Mayfield Group’s prospects and governance, though no further operational or strategic implications were outlined in the notice.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

Mayfield Group Seeks ASX Quotation for 631,907 Fully Paid Shares
Dec 23, 2025

Mayfield Group Holdings Limited has applied to the ASX for quotation of 631,907 ordinary fully paid shares under the code MYG, following the full payment of previously unquoted partly paid securities. The move will increase the number of the company’s quoted securities on issue, modestly enhancing its free float and liquidity for shareholders, though the announcement does not disclose any broader strategic or operational implications.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

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: Dec 03, 2025