NRW Holdings Limited (NWH) AI Stock Analysis

• Market Cap: €1.26B
• Dividend Yield: 5.98%
• Average Volume (3M): 1.09M
• Price to Earnings (P/E): 10.9
• Beta (1Y): 1.14
• Revenue Growth: 13.68%
• EPS Growth: 24.51%
• Country: AU
• Employees: 8,000
• Sector: Industrials
• Sector Strength: 94
• Industry: Engineering & Construction
• EPS (TTM): 0.25
• Shares Outstanding: 457,362,460
• 10 Day Avg. Volume: 986,177
• 30 Day Avg. Volume: 1,087,962
• PEG Ratio: 1.30
• Price to Book (P/B): 1.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 9.99
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €3.83
• Price Target Upside: 35.22% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 80 Outperform
• Price Target: AU$3.00 ▲(6.01%Upside)

NRW Holdings Limited receives a strong overall score driven primarily by its solid financial performance and attractive valuation. The company's stable balance sheet and effective cash flow management further support its position. Technical indicators show moderate bullish momentum but suggest caution with slightly overbought conditions. The absence of earnings call data and corporate events did not impact the score.

NRW Holdings Limited Business Overview & Revenue Model

Company Description

NRW Holdings Limited, through its subsidiaries, provides diversified contract services to the resources and infrastructure sectors in Australia. The company operates through three segments: Civil; Mining; and Minerals, Energy & Technologies. The Civil segment delivers private and public civil infrastructure, mine development, bulk earthworks, and commercial and residential subdivision projects. Its civil construction projects include roads, bridges, tailings storage facilities, rail formations, ports, renewable energy projects, water infrastructure, and concrete installations. The Mining segment engages in the mine management, contract mining, load and haul, dragline, drill and blast, and coal handling preparation plant operations; maintenance activities; and fabrication of water and service vehicles. The Minerals, Energy & Technologies segment provides materials handling, onsite maintenance, and shutdown services; industrial engineering and fabrication services; and engineering, procurement, and construction services. It also provides heat treatment services, as well as mining equipment solutions. The company was founded in 1994 and is headquartered in Belmont, Australia.

How the Company Makes Money

NRW Holdings Limited generates revenue through its three primary divisions: Civil, Mining, and Urban Infrastructure. In the Civil division, the company provides large-scale construction services for infrastructure projects such as roads, bridges, and tunnels. The Mining division offers contract mining services, including mine development, drill and blast, and material haulage. NRW Holdings' Urban Infrastructure division focuses on urban development projects, delivering services for residential, commercial, and public amenities. The company collaborates with government agencies, mining companies, and developers, and benefits from long-term contracts and partnerships that ensure a steady stream of income.

NRW Holdings Limited Financial Statement Overview

Summary

NRW Holdings Limited demonstrates strong financial performance with robust revenue growth and solid profitability margins. The company's balance sheet is stable with a manageable debt-to-equity ratio, and cash flow management is effective. However, there are opportunities to improve free cash flow growth and optimize cost structures.

Income Statement

NRW Holdings Limited has demonstrated strong revenue growth with a consistent increase in total revenue over the years, achieving a 9.2% growth from 2023 to 2024. The gross profit margin improved significantly, and the company maintained solid EBIT and EBITDA margins. However, there is room for improvement in net profit margin, which indicates that cost management could be optimized further.

Balance Sheet

The company maintains a stable balance sheet with a manageable debt-to-equity ratio of approximately 0.5, indicating prudent financial leverage. The return on equity shows a healthy upward trend, reflecting effective utilization of equity capital. However, the equity ratio suggests that the company could strengthen its asset base in relation to equity.

Cash Flow

NRW Holdings Limited has demonstrated strong cash flow management, evidenced by a positive operating cash flow and a consistent free cash flow generation. The free cash flow to net income ratio indicates efficient conversion of net income to cash. However, there was a decrease in free cash flow growth rate, suggesting potential areas to enhance cash flow from operations or reduce capital expenditures.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
3.14B	2.91B	2.67B	2.37B	2.22B	2.00B
	Gross Profit
1.51B	1.40B	431.98M	349.22M	391.81M	479.57M
	EBIT
414.59M	133.10M	139.15M	118.23M	75.33M	129.15M
	EBITDA
298.62M	309.70M	267.57M	262.98M	254.43M	235.65M
	Net Income Common Stockholders
115.15M	105.10M	85.64M	97.41M	54.30M	73.75M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
284.42M	246.65M	227.58M	219.34M	146.55M	170.23M
	Total Assets
1.80B	1.61B	1.61B	1.50B	1.41B	1.36B
	Total Debt
443.61M	325.46M	311.92M	285.92M	317.83M	309.85M
	Net Debt
159.20M	78.81M	84.34M	66.58M	171.28M	139.62M
	Total Liabilities
1.13B	959.70M	995.37M	906.05M	869.46M	889.09M
	Stockholders Equity
666.12M	652.56M	610.12M	591.09M	545.12M	472.39M
Cash Flow		Free Cash Flow
129.51M	38.70M	59.70M	81.65M	68.84M	133.08M
	Operating Cash Flow
323.19M	233.53M	246.99M	288.00M	147.44M	215.70M
	Investing Cash Flow
-234.08M	-152.28M	-180.57M	-124.75M	-121.68M	-193.00M
	Financing Cash Flow
17.87M	-62.12M	-58.26M	-90.52M	-49.44M	82.50M

NRW Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.83
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NWH, the sentiment is Positive. The current price of 2.83 is above the 20-day moving average (MA) of 2.79, above the 50-day MA of 2.69, and below the 200-day MA of 3.26, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 57.04 is Neutral, neither overbought nor oversold. The STOCH value of 38.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NWH.

NRW Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NWH	80 Outperform	€1.26B	10.93	18.01%	5.98%	13.68%	24.51%
Sector *	65 Neutral	$4.44B	12.22	5.28%	248.14%	4.08%	-12.12%
DNE		€2.31B	49.70	3.35%	4.03%	―	―
MALRF		$2.47B	43.31	-33.95%	4.54%	―	―
SRG	69 Neutral	AU$924.06M	21.98	11.36%	3.27%	25.40%	41.18%
ASL		AU$162.74M	―	-75.74%	―	―	―

NRW Holdings Limited Corporate Events

NRW Holdings’ Primero Secures $157M Contract with Rio Tinto

NRW Holdings Limited announced that its subsidiary, Primero Group Limited, has secured a contract with Rio Tinto for the Hope Downs 2 Satellite & Bedded Hilltop Non-Process Infrastructure Facilities, valued at approximately $157 million. This contract, part of the Hope Downs 1 Sustaining Project, involves design, supply, installation, construction, testing, commissioning, and handover of infrastructure works for Rio Tinto’s operations in Western Australia. The project is expected to be completed by December 2026, with site works commencing in Q4 2025. This award strengthens Primero’s reputation as a leading provider of engineering and construction services and reinforces its long-term relationship with Rio Tinto.

The most recent analyst rating on (AU:NWH) stock is a Buy with a A$3.47 price target. To see the full list of analyst forecasts on NRW Holdings Limited stock, see the AU:NWH Stock Forecast page.

Macquarie Group Becomes Substantial Holder in NRW Holdings

Macquarie Group Limited has become a substantial holder in NRW Holdings Limited as of May 26, 2025. This development indicates Macquarie’s increased influence in NRW Holdings, with the power to control voting rights and securities disposal, potentially impacting the company’s strategic decisions and market positioning.

The most recent analyst rating on (AU:NWH) stock is a Buy with a A$3.47 price target. To see the full list of analyst forecasts on NRW Holdings Limited stock, see the AU:NWH Stock Forecast page.

NRW Holdings Faces Legislative Challenge Over Whyalla Ports Security

NRW Holdings Limited is facing a significant challenge due to proposed legislation by the South Australian Government that could undermine its financial security interests in Whyalla Ports. The legislation, if passed, would nullify the lease agreement between OneSteel and Whyalla Ports, potentially impacting NRW’s ability to recover $113.3 million owed under a Mining Services Agreement. This development could lead to NRW raising an impairment provision in its financial results, reflecting the potential loss. NRW has been actively supporting OneSteel and Whyalla Ports, maintaining employment and operations despite the financial difficulties faced by the GFG Alliance. The company is prepared to pursue all available recovery options to protect its interests.

The most recent analyst rating on (AU:NWH) stock is a Buy with a A$3.47 price target. To see the full list of analyst forecasts on NRW Holdings Limited stock, see the AU:NWH Stock Forecast page.

NRW Holdings Requests Trading Halt Amid Legislative Review

NRW Holdings Limited has requested a trading halt on its securities pending an announcement regarding the implications of proposed legislation by the South Australian Government. This legislation could affect the security held by its subsidiary, Golding Contractors Pty Ltd, over the assets of Whyalla Ports Pty Ltd. The trading halt is expected to last until the announcement is made or normal trading resumes on 16 May 2025. This move reflects NRW’s proactive approach in assessing potential impacts on its operations and stakeholders.

The most recent analyst rating on (AU:NWH) stock is a Buy with a A$3.47 price target. To see the full list of analyst forecasts on NRW Holdings Limited stock, see the AU:NWH Stock Forecast page.

NRW Holdings Announces Quotation of New Securities on ASX

NRW Holdings Limited has announced the application for the quotation of 170,347 ordinary fully paid securities on the Australian Securities Exchange (ASX), with an issue date of March 31, 2025. This move is part of previously announced transactions, potentially impacting the company’s market presence and offering stakeholders an opportunity to engage with the company’s growth strategy.

NRW Holdings Announces Change of Share Registry Address

NRW Holdings Limited has announced a change in the address of its share registry office in Sydney, effective from April 14, 2025. This move is part of the company’s ongoing operations and reflects its commitment to maintaining effective communication with its stakeholders. The announcement is in line with NRW’s continuous disclosure policy and has been authorized by the company’s CEO.

Australian Retirement Trust Becomes Substantial Holder in NRW Holdings

NRW Holdings Limited has announced that Australian Retirement Trust Pty Ltd, acting as trustee for the Australian Retirement Trust, has become a substantial holder in the company as of March 26, 2025. This development indicates that Australian Retirement Trust now holds a 5.03% voting power in NRW Holdings, which could influence company decisions and potentially impact its strategic direction and stakeholder interests.

NRW Holdings Appoints New Chief Financial Officer

NRW Holdings Limited has appointed Peter Bryant as Chief Financial Officer, effective 5 May 2025. Bryant brings extensive experience from his previous roles at Perth Airport Corporation and Perenti, with a strong background in the mining, renewables, and media sectors. His appointment is expected to enhance NRW’s financial leadership and innovation capabilities, potentially strengthening its position in the global mining services market.

Vanguard Group Increases Stake in NRW Holdings

NRW Holdings Limited has experienced a change in the substantial holding of its shares by The Vanguard Group, Inc., which now holds a 6.179% voting power, up from 5.177%. This increase in Vanguard’s stake may indicate a growing confidence in NRW Holdings’ market position and future prospects, potentially impacting the company’s strategic decisions and stakeholder interests.

NRW Holdings Director Increases Shareholding

NRW Holdings Limited announced a change in the director’s interest, specifically for Director Fiona Jane Murdoch, who increased her indirect holding in the company by acquiring 10,900 fully paid ordinary shares through an on-market trade. This change reflects a potential vote of confidence in the company’s future prospects by a key member of its leadership, potentially impacting stakeholder perceptions and market positioning.

NRW Holdings Director Acquires Shares in On-Market Trade

NRW Holdings Limited has announced a change in the interests of its director, Adrienne Christina Parker, in the company’s securities. On March 7, 2025, Parker acquired 5,500 fully paid ordinary shares through an on-market trade, valued at $15,451.76. This acquisition marks Parker’s first holding of the company’s securities, as she previously held no shares. The change in director’s interest is a standard disclosure under ASX listing rules, reflecting transparency in the company’s governance practices.