Saunders International Limited (SND) AI Stock Analysis

• Market Cap: AU$121.70M
• Dividend Yield: 2.78%
• Average Volume (3M): 62.05K
• Price to Earnings (P/E): 51.2
• Beta (1Y): -0.03
• Revenue Growth: -0.72%
• EPS Growth: -78.03%
• Country: AU
• Employees: 505
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.02
• Shares Outstanding: 140,641,160
• 10 Day Avg. Volume: 36,254
• 30 Day Avg. Volume: 62,054
• PEG Ratio: -0.54
• Price to Book (P/B): 1.71
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 6.53
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: AU$0.97 ▲(19.51% Upside)

Saunders International Limited's stock score is primarily influenced by its stable financial position and positive technical indicators, suggesting a bullish trend. However, the high P/E ratio raises concerns about overvaluation, and declining revenue and cash flow growth present risks. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Strong gross margins

A sustained gross margin above 50% indicates durable project-level profitability and effective cost control in engineering and construction work. This gives Saunders pricing flexibility and margin cushion on fixed-cost projects, supporting long-term cash generation even if top-line growth is muted.

Low leverage / strong equity base

Very low leverage and a strong equity ratio provide financial resilience through project cycles, reduce refinancing risk, and preserve capacity to bid for large projects. This balance sheet strength supports investment, working capital needs, and ability to withstand contract timing variability over months.

Infrastructure focus with recurring contracts

Concentration in regulated water/wastewater and maintenance services creates recurring demand and long-term contracting opportunities with government and utilities. Structural public spending and asset maintenance needs underpin a stable addressable market and predictable revenue streams over the medium term.

Negative Factors

Declining revenue trend

A near double-digit revenue decline signals weakening marketplace traction or lost contract share. Continued top-line contraction erodes scale advantages, reduces capacity to absorb fixed costs, and limits reinvestment for growth, posing a material headwind to sustainable earnings recovery over coming quarters.

Severe free cash flow deterioration

A dramatic drop in free cash flow growth undermines liquidity and operational flexibility, increasing reliance on external funding or asset sales to finance working capital and capex. For a project-centric firm, weak FCF amplifies risk around contract timing, supplier payments and future bid capacity.

Compressed net profit margins

A sub-1% net margin, despite high gross margins, indicates elevated overheads, project cost overruns, or lower pricing power. Persistently thin net profitability limits retained earnings, weakens ROE, and reduces the firm's buffer against project risk, impairing long-term value generation unless addressed.

Saunders International Limited Business Overview & Revenue Model

Company Description

Saunders International Limited engages in the design, fabrication, construction, and maintenance of bulk liquid storage facilities, tanks, and road and rail bridges in Australia. The company also manufactures precast concrete products for transport infrastructure projects; and provides a range of specialized services for the maintenance of commercial, industrial, and marine infrastructure and assets. In addition, it engages in the designing, engineering, procurement, and construction of fuel and chemical storage terminals, water reservoirs and pumping stations, mineral processing plants, bridge construction works, precast concrete, concrete foundation works for heavy industry, foundation systems, jetty and wharves construction, building and construction management, bridges and marine structures, and water infrastructure, as well as coal bins, hoppers, and associated steel works. Further, the company provides various asset services comprising turn key solutions, shutdowns and refurbishment, furnace and boiler maintenance, pressure welding, air heater overhauls and upgrades, general base line maintenance, refinery and industrial services, pumps and steam valve overhaul, high performance coatings and linings, abrasive blasting and protective coatings, and structural strengthening services, as well as services related to fabrication, general, structural, piping, and pressure equipment. Additionally, it provides electrical instrumentation, and automation and control services. The company offers its products and services to oil and gas, mining and mineral processing, infrastructure, aviation, defense, new energy, power, and water/wastewater industries. Saunders International Limited was founded in 1951 and is based in Rhodes, Australia.

How the Company Makes Money

Saunders International Limited generates revenue primarily through its project-based operations in the engineering and construction sectors. The company's key revenue streams include contracts for the design and construction of water and wastewater treatment facilities, industrial storage solutions, and maintenance services for existing infrastructure. Additionally, they may engage in long-term partnerships with government entities and private companies, securing ongoing maintenance contracts that provide a stable income source. The company's ability to successfully bid for large-scale projects and maintain strong relationships with clients also plays a crucial role in its earnings, as does its focus on delivering high-quality, cost-effective solutions that meet regulatory and environmental standards.

Saunders International Limited Financial Statement Overview

Summary

Saunders International Limited exhibits strong gross profit margins and a stable balance sheet with low leverage. However, the company faces challenges with declining revenue growth and net profit margins, as well as a significant drop in free cash flow growth. While the financial position remains stable, there is a need for strategic initiatives to enhance revenue and profitability to ensure long-term growth and sustainability.

Income Statement

Saunders International Limited has shown a decline in revenue growth with a -9.81% rate in the latest year, indicating potential challenges in market demand or competition. The gross profit margin remains strong at 50.74%, reflecting efficient cost management. However, the net profit margin has decreased significantly to 0.97%, suggesting increased expenses or reduced pricing power. Overall, while the company maintains a healthy gross margin, the declining revenue and net profit margins are concerning.

Balance Sheet

The company's balance sheet shows a solid equity position with a debt-to-equity ratio of 0.20, indicating low leverage and financial stability. The return on equity has decreased to 3.97%, which is a significant drop from previous years, suggesting reduced profitability. The equity ratio stands at 50.89%, demonstrating a strong equity base relative to total assets. Overall, the balance sheet reflects financial stability but highlights a need for improved profitability.

Cash Flow

The cash flow statement reveals a concerning decline in free cash flow growth at -390.53%, indicating potential cash management issues. The operating cash flow to net income ratio is 0.38, suggesting moderate cash generation efficiency. The free cash flow to net income ratio is 0.86, showing that a significant portion of net income is converted into free cash flow. While cash generation remains positive, the sharp decline in free cash flow growth is a risk factor.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	214.52M	214.52M	216.08M	200.89M	129.96M	101.24M
Gross Profit	108.85M	108.85M	107.40M	22.02M	12.45M	12.37M
EBITDA	4.86M	7.49M	19.02M	17.58M	11.73M	10.11M
Net Income	2.08M	2.08M	9.36M	9.49M	6.55M	5.54M
Balance Sheet
Total Assets	102.79M	102.79M	113.20M	93.01M	93.72M	51.91M
Cash, Cash Equivalents and Short-Term Investments	22.08M	22.08M	19.81M	12.83M	36.75M	23.82M
Total Debt	10.42M	10.42M	11.94M	4.49M	7.00M	2.42M
Total Liabilities	50.47M	50.47M	61.90M	53.74M	61.70M	23.81M
Stockholders Equity	52.32M	52.32M	51.30M	39.27M	32.02M	28.11M
Cash Flow
Free Cash Flow	13.72M	13.72M	16.67M	-15.23M	16.64M	13.81M
Operating Cash Flow	15.92M	15.92M	19.32M	-14.10M	19.76M	15.56M
Investing Cash Flow	-6.29M	-6.29M	-5.49M	-3.56M	-3.28M	-1.73M
Financing Cash Flow	-7.37M	-7.37M	-6.86M	-6.26M	-3.65M	-1.01M

Saunders International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SND, the sentiment is Positive. The current price of 0.81 is below the 20-day moving average (MA) of 0.83, below the 50-day MA of 0.81, and above the 200-day MA of 0.80, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 57.72 is Neutral, neither overbought nor oversold. The STOCH value of 55.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SND.

Saunders International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVZ	69 Neutral	AU$27.95M	22.55	3.66%	―	-9.21%	-42.37%
ACF	69 Neutral	AU$336.49M	14.27	16.13%	5.71%	25.14%	-14.54%
VBC	65 Neutral	AU$62.37M	15.89	17.38%	0.49%	-8.28%	89.71%
SND	64 Neutral	AU$121.70M	51.16	4.01%	2.78%	-0.72%	-78.03%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Saunders International Limited Corporate Events

Saunders Wins $10.4m Water Infrastructure Contract in South West Sydney

Saunders International has secured a $10.4 million contract from Ward Civil to build new potable and recycled water reservoirs, along with associated structural infrastructure, as part of the Wilton Integrated Services Program in South West Sydney. The project, which will utilise Saunders’ tank fabrication and broader water infrastructure expertise, reinforces the company’s growing presence in the water sector following recent Sydney projects and the integration of Saunders Aqua Metro, and is expected to bolster its order book and contribute to revenue and earnings in FY26 and FY27.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders to Release 4.1 Million Escrowed Shares from Piping Solutions Acquisition

Saunders International has announced that 4,109,954 fully paid ordinary shares currently subject to voluntary escrow will be released on 6 January 2026. These shares were originally issued on 6 January 2024 as part of the consideration for the acquisition of the Piping Solutions business, now operating as Saunders Piping Solutions Pty Limited, and their release will increase the pool of tradeable shares on the market, potentially impacting liquidity and ownership dynamics following the integration of the acquired business.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Lands $20M Defence Fuel Infrastructure Project in Western Australia

Saunders International Limited has secured a $20 million subcontract for Defence fuel infrastructure at RAAF Base Learmonth, Western Australia, awarded by CPB Contractors. The project, which includes aviation fuel hydrant piping and an airfield lighting emergency generator fuel system, highlights Saunders’ expertise in fuel infrastructure and reinforces its positioning as a trusted provider in the Defence sector. This milestone enhances Saunders’ presence in Western Australia and boosts its orderbook, underpinning its strategic focus on growth in the Defence fuel infrastructure market.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International to Quote New Securities on ASX

Saunders International Limited has announced the application for quotation of 144,859 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme, which is expected to enhance employee engagement and align their interests with the company’s growth objectives. The issuance of these securities may strengthen Saunders’ operational capabilities and reinforce its market position by potentially increasing stakeholder confidence.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Director Increases Stake with New Performance Rights

Saunders International Limited has announced a change in the interests of its director, Angelo De Angelis, who has acquired an additional 377,112 performance rights under the FY26 LTVR program. This move, approved by shareholders at the 2025 Annual General Meeting, reflects the company’s strategic focus on aligning director incentives with long-term performance goals, potentially impacting its operational and market positioning positively.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Announces Director’s Interest Change

Saunders International Limited announced a change in the director’s interest, with Mark Benson acquiring additional performance rights under the FY26 LTVR program. This change, approved at the 2025 Annual General Meeting, reflects the company’s commitment to aligning executive incentives with long-term performance goals, potentially impacting its strategic direction and shareholder value.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Issues Unquoted Performance Rights

Saunders International Limited has announced the issuance of 784,964 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s efforts to incentivize and retain its workforce, potentially impacting its operational efficiency and stakeholder engagement positively.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Expands with Aqua Metro Acquisition

Saunders International Limited has issued 4,739,437 fully paid ordinary shares as part of the acquisition of Aqua Metro Pty Ltd and its associated entities. This strategic move, announced earlier in July 2025, aligns with the company’s expansion efforts in the industrial services sector, potentially enhancing its market position and operational capabilities.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International AGM: Resolutions Passed with Strong Shareholder Support

Saunders International Limited held its Annual General Meeting on November 18, 2025, where several resolutions were voted on and carried. Key resolutions included the adoption of the remuneration report, election and re-election of directors, approval for granting performance rights, and ratification of prior share issues. The successful passage of these resolutions indicates strong shareholder support and positions the company for continued strategic growth.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Announces Leadership Transition at 2025 AGM

Saunders International Limited announced a significant leadership transition during its 2025 Annual General Meeting. Mark Benson will step down as Managing Director and CEO at the end of 2025, after a decade of leadership that saw the company achieve five consecutive years of record growth and a strengthened balance sheet. Angelo De Angelis will succeed him, aiming to continue the company’s trajectory of sustainable growth and operational excellence.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Issues Performance Rights to Employees

Saunders International Limited announced the issuance of 612,310 performance rights under an employee incentive scheme, which are unquoted and subject to transfer restrictions until the restrictions end. This move is likely aimed at motivating and retaining key personnel, potentially impacting the company’s operational efficiency and aligning employee interests with company performance.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Anticipates Short-Term Challenges but Sees Growth Opportunities Ahead

Saunders International Limited has announced that its financial performance for the first half of FY26 is expected to be below the previous corresponding period due to ongoing factors from the second half of FY25. Despite this, the company is optimistic about short to medium-term growth, supported by increased activity and significant projects reaching preferred contractor status. The recent acquisition of Aqua Metro has allowed Saunders to expand into the NSW market with long-term contracts with Sydney Water, ensuring steady revenue streams. The company’s strong balance sheet and prudent financial management provide a solid foundation for future growth.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Expands Market Presence with New Securities Quotation

Saunders International Limited announced the quotation of 4,739,437 fully paid ordinary securities on the ASX, effective from October 16, 2025. This move is part of previously announced transactions and is expected to enhance the company’s market presence and liquidity, potentially benefiting stakeholders by increasing the company’s financial flexibility.

The most recent analyst rating on (AU:SND) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Announces 2025 AGM Details

Saunders International Limited has announced the details of its upcoming Annual General Meeting (AGM) scheduled for November 18, 2025, in Sydney. This meeting will provide shareholders with the opportunity to discuss the company’s performance and strategic direction, impacting its future operations and stakeholder engagement.

The most recent analyst rating on (AU:SND) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.

Saunders International Expands Water Sector Presence with Aqua Metro Acquisition

Saunders International Limited has completed its acquisition of Aqua Metro, a leading company in the water industry known for its design, engineering, and project execution capabilities. This acquisition, valued at up to $30 million, aligns with Saunders’ strategy to expand its presence in the water sector, enhancing its multidisciplinary project delivery by integrating Aqua Metro’s expertise. The acquisition is expected to bolster Saunders’ market positioning by combining Aqua Metro’s established relationships with utilities and government agencies with Saunders’ existing capabilities in tank construction, pipework, and control systems.

The most recent analyst rating on (AU:SND) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Saunders International Limited stock, see the AU:SND Stock Forecast page.