Top Page
Vulcan Steel Ltd.
(Sydney:VSL)
Vulcan Steel Ltd. (VSL) vs. iShares MSCI Australia ETF (EWA)
Vulcan Steel Ltd. Business Overview & Revenue Model
Vulcan Steel Ltd. Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.00B | 948.15M | 1.06B | 1.24B | 968.40M | 731.46M |
| Gross Profit | 281.72M | 324.60M | 374.95M | 443.89M | 387.08M | 152.89M |
| EBITDA | 109.54M | 124.87M | 163.02M | 207.40M | 232.75M | 129.49M |
| Net Income | 15.02M | 15.73M | 39.98M | 87.90M | 123.98M | 61.10M |
Balance Sheet | ||||||
| Total Assets | 1.08B | 858.66M | 906.43M | 1.00B | 791.89M | 580.78M |
| Cash, Cash Equivalents and Short-Term Investments | 28.58M | 17.37M | 24.11M | 20.32M | 23.93M | 10.17M |
| Total Debt | 916.53M | 545.04M | 590.21M | 649.73M | 411.44M | 323.80M |
| Total Liabilities | 787.93M | 689.01M | 734.38M | 818.29M | 607.44M | 494.92M |
| Stockholders Equity | 280.13M | 169.65M | 172.06M | 185.92M | 184.45M | 85.86M |
Cash Flow | ||||||
| Free Cash Flow | 42.32M | 83.63M | 142.02M | 123.82M | -62.73K | 99.79M |
| Operating Cash Flow | 64.34M | 104.95M | 168.71M | 146.77M | 12.09M | 105.45M |
| Investing Cash Flow | -85.52M | -17.22M | -23.98M | -193.24M | -11.54M | -822.00K |
| Financing Cash Flow | 36.41M | -94.19M | -141.18M | 43.16M | 12.38M | -108.70M |
Vulcan Steel Ltd. Technical Analysis
Vulcan Steel Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$237.32M | 12.52 | 25.46% | 7.62% | -0.03% | 23.78% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$997.87M | 74.20 | 9.13% | 0.86% | -12.17% | -61.32% | |
60 Neutral | AU$4.24B | -72.75 | 0.14% | 1.27% | 3.98% | 70.79% | |
57 Neutral | $12.06B | 41.55 | 0.73% | 2.48% | -4.46% | -89.42% |
Vulcan Steel Ltd. Corporate Events
Vulcan Steel Ltd. has updated its dividend notification for holders of its ordinary fully paid shares, revising the amount of the unfranked supplementary dividend tied to the six‑month period ended 31 December 2025. The update also clarifies New Zealand resident withholding tax details and confirms that the dividend is fully imputed, providing additional tax information for shareholders ahead of the March ex‑date and record date.
The dividend relates to the company’s half‑year reporting period, with the ex‑dividend date set for 11 March 2026 and the record date on 12 March 2026, giving investors a clear timetable for eligibility. By refining tax and imputation credit figures, Vulcan Steel aims to give more precise guidance to its trans‑Tasman investor base, which may assist shareholders in planning their after‑tax income from the upcoming distribution.
The most recent analyst rating on (AU:VSL) stock is a Buy with a A$7.75 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel has declared a fully imputed interim dividend of NZD 0.02941176 per ordinary share for the six-month period ended 31 December 2025, with an ex-dividend date of 11 March 2026, a record date of 12 March 2026, and payment scheduled for 26 March 2026. The distribution includes New Zealand resident withholding tax and full imputation credits, underscoring the company’s ongoing commitment to returning capital to shareholders and providing tax-effective income for its New Zealand investor base.
The most recent analyst rating on (AU:VSL) stock is a Buy with a A$7.65 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel reported 1H FY26 revenue of NZ$535.4 million, up 8.6% year on year, but EBITDA edged down 1.1% to NZ$56.3 million and NPAT fell 9.3% to NZ$8.3 million, reflecting margin pressure and weaker cashflows. The company declared a NZ 2.5 cent fully franked and imputed interim dividend and reduced net debt by NZ$30.1 million to NZ$202.3 million, while operating cashflow dropped sharply to NZ$38.7 million.
A key feature of the period was the NZ$93.8 million capital-raising funded acquisition of Roofing Industries, expanding Vulcan to seven industry verticals and contributing encouraging initial earnings. Management expects a gradual recovery in New Zealand and Australian demand amid stabilising markets, but notes ongoing margin strain, mixed conditions across segments, labour shortages and policy uncertainty, positioning the group to benefit from an emerging upturn if it executes on investment and operational improvement plans.
The most recent analyst rating on (AU:VSL) stock is a Buy with a A$7.65 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel has reiterated its commitment to creating sustainable long-term shareholder value, emphasising a team-first ethos and ongoing improvements to processes and customer service. The company highlighted its recent expansion into the rollforming market as a key element of its growth strategy and noted that, while economic conditions remain challenging, it is cautiously optimistic about improving trends and future opportunities.
Management’s focus on operational refinement and strategic expansion suggests an effort to strengthen Vulcan’s market positioning despite macroeconomic headwinds. This approach indicates an intention to capture new value-creating opportunities, which could support future earnings resilience and enhance returns for shareholders as conditions improve.
The most recent analyst rating on (AU:VSL) stock is a Buy with a A$7.65 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Ltd. has reaffirmed its focus on long-term sustainable shareholder value, highlighting a company culture built around a team-first ethos and continuous improvement in operational processes and customer service. Management signaled cautious optimism about an improving economic climate and underscored that expansion into the rollforming market is a key plank of its growth strategy, positioning the business to capture new opportunities despite ongoing macroeconomic challenges.
The most recent analyst rating on (AU:VSL) stock is a Buy with a A$7.65 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has completed the second and final payment under its August 2025 sale and purchase agreement for the acquisition of Roofing Industries Limited from Francis and Gellatly Holdings, owned by founders Keith Francis and David Gellatly. The final instalment, representing 20% of the initial NZ$88 million purchase price and adjusted for cash, debt, net working capital and fixed assets at the 30 September 2025 completion date, formally concludes the financial settlement of the deal and fully brings Roofing Industries into Vulcan’s roofing division footprint across Australasia.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$7.00 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has scheduled the release of its half-year results for the period 1 July 2025 to 31 December 2025, with the announcement set for 9:00am NZDT on 24 February 2026 on both the ASX and NZX. The company will hold a results webcast and conference call later that morning, providing investors and analysts with an opportunity to hear management’s commentary on trading conditions, operational performance and outlook for its Australasian steel, metals and roofing operations.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$7.00 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has scheduled the release of its half-year results for the period 1 July 2025 to 31 December 2025, with the announcement to be made to the ASX and NZX on 24 February 2026 at 9:00am NZDT. The company will follow the release with a results briefing via webcast and conference call later that morning, providing investors and analysts an opportunity to hear management’s commentary on trading conditions and performance in its steel, metals and roofing operations across Australasia.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$7.00 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
The New Zealand Superannuation Fund, through New Zealand Superannuation Fund Nominees Limited, has disclosed a reduction in its substantial shareholding in Vulcan Steel Ltd, cutting its stake from 6.688% to 5.650% of the company’s ordinary shares. Between September 2025 and January 2026, the fund bought 542,808 Vulcan Steel shares on-market while selling 1,744,332 shares, resulting in a net decrease of its position and signalling a portfolio rebalancing that modestly lowers but maintains its significant institutional presence on Vulcan Steel’s register.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has announced the lapse of 198,894 performance share rights, identified as VSLAA, following the failure or incapacity of the relevant vesting conditions to be satisfied as at 1 January 2026. The cessation of these securities reduces the company’s pool of outstanding performance rights, signalling an adjustment to its incentive structure and issued capital, which may have implications for management and employee equity participation but does not affect ordinary shareholders’ existing holdings.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Ltd has disclosed a change in the equity interests of director Rhys Jones, following the automatic lapse of a portion of his performance share rights under the company’s long-term incentive plans. The notice to the ASX confirms that 198,894 performance share rights lapsed at no consideration on 1 January 2026, leaving Jones with unchanged holdings of ordinary shares but a reduced number of performance rights tied to the FY24 and FY25 incentive schemes, a move that modestly reshapes the director’s exposure to future equity-based remuneration without affecting the company’s current capital structure.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has announced the appointment of Gavin William Street as a director effective 1 January 2026, formalising his role within the company’s board. As part of his remuneration and alignment with shareholder interests, Street has been granted 326,023 performance share rights under the FY25 long-term incentive plan, vesting on 1 July 2027, and 390,543 performance share rights under the FY26 long-term incentive plan, vesting on 1 July 2028, both subject to performance conditions; the grants underscore Vulcan Steel’s use of equity-based incentives to attract and retain senior leadership and to link governance with long-term company performance.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel has confirmed a leadership reshuffle effective 1 January 2026, appointing Gavin Street as Chief Executive Officer and managing director, while former CEO Rhys Jones transitions to non-executive Chair of the Board and former Chair Russell Chenu becomes lead independent director. The board maintains a majority of independent directors, signalling continued emphasis on governance as the company implements previously flagged succession plans that are expected to provide continuity in strategic direction while reinforcing independent oversight for shareholders and other stakeholders.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
Vulcan Steel Limited has addressed a compliance issue regarding the late filing of an ASX Appendix 3Y form due to an administrative error. The company has taken steps to ensure future compliance by reviewing its processes and planning additional training for its board members. This incident is considered isolated, and Vulcan Steel maintains that its current disclosure arrangements are adequate.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.