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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 942.73M | 948.15M | 1.06B | 1.24B | 968.40M | 731.46M |
| Gross Profit | 297.49M | 324.60M | 374.95M | 443.89M | 387.08M | 152.89M |
| EBITDA | 92.60M | 124.87M | 163.02M | 207.40M | 232.75M | 129.49M |
| Net Income | 15.65M | 15.73M | 39.98M | 87.90M | 123.98M | 61.10M |
Balance Sheet | ||||||
| Total Assets | 858.66M | 858.66M | 906.43M | 1.00B | 791.89M | 580.78M |
| Cash, Cash Equivalents and Short-Term Investments | 17.37M | 17.37M | 24.11M | 20.32M | 23.93M | 10.17M |
| Total Debt | 545.04M | 545.04M | 590.21M | 649.73M | 411.44M | 323.80M |
| Total Liabilities | 689.01M | 689.01M | 734.38M | 818.29M | 607.44M | 494.92M |
| Stockholders Equity | 169.65M | 169.65M | 172.06M | 185.92M | 184.45M | 85.86M |
Cash Flow | ||||||
| Free Cash Flow | 83.84M | 83.63M | 142.02M | 123.82M | -62.73K | 99.79M |
| Operating Cash Flow | 105.16M | 104.95M | 168.71M | 146.77M | 12.09M | 105.45M |
| Investing Cash Flow | -17.26M | -17.22M | -23.98M | -193.24M | -11.54M | -822.00K |
| Financing Cash Flow | -94.55M | -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$236.84M | 12.05 | 25.46% | 7.55% | -0.03% | 23.78% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$1.04B | 65.80 | 9.13% | 0.85% | -12.17% | -61.32% | |
58 Neutral | AU$3.52B | -205.48 | 0.14% | 1.28% | 3.98% | 70.79% | |
54 Neutral | AU$10.50B | 125.56 | 0.73% | 2.51% | -4.46% | -89.42% |
Vulcan Steel Ltd. Corporate Events
Vulcan Steel Ltd. has announced a change in the director’s interest, specifically involving Russell Chenu, who has increased his holdings in the company through Barratta Super Pty Ltd. The transactions occurred on 12, 13, and 17 November 2025, resulting in an acquisition of 10,000 ordinary shares, bringing the total to 93,496 shares held by Barratta Super Pty Ltd. This change reflects a strategic move by the director, potentially signaling confidence in the company’s future prospects and impacting shareholder perceptions positively.
Vulcan Steel Ltd. announced a change in the director’s interest, with Adrian John Casey disposing of 17,214 ordinary shares valued at NZ$144,597.60. This adjustment in shareholding reflects ongoing management of personal investments and may influence stakeholder perceptions of the company’s governance and financial strategies.
Vulcan Steel Ltd. has announced a change in the director’s interest, specifically regarding Adrian John Casey’s holdings. The change involves the acquisition of 126,624 performance share rights valued at NZ$780,000, which are part of the company’s long-term incentive plan. This adjustment in share rights reflects the company’s ongoing efforts to align leadership incentives with its strategic goals, potentially impacting shareholder value and company performance.
Vulcan Steel Ltd. held its Annual General Meeting, where several key resolutions were passed. These included the re-election of Adrian Casey as a director, the election of Rhys Jones as a director, and the granting of performance share rights to Gavin Street, the incoming Managing Director and CEO, as well as to Adrian Casey, the Chief Operating Officer. The resolutions were overwhelmingly supported, indicating strong shareholder confidence in the company’s leadership and strategic direction.
Vulcan Steel Limited announced its 2025 annual meeting of shareholders, which will be a hybrid event allowing both in-person and virtual attendance. The meeting will feature presentations and addresses from the Chair of the Board and management, providing insights into the company’s operations and strategic direction.
Vulcan Steel Ltd. has updated its previous announcement regarding the final dividend distribution, specifically concerning the NZD/AUD exchange rate. This update impacts the nominal value of the resident withholding tax for New Zealand shareholders and the imputation credit rate per share, reflecting the company’s commitment to transparency and accuracy in financial reporting.
Vulcan Steel Ltd. announced a change in its substantial holding, with Mayoral Trust Limited, as trustee of the Vulcan Continuity Trust, reducing its stake from 5.515% to 4.970%. This change was primarily due to the completion of Vulcan Steel’s accelerated renounceable entitlement offer, which resulted in the issuance of new shares. The adjustment in shareholding reflects the company’s strategic financial maneuvers to enhance its market presence and shareholder value.
Vulcan Steel Limited has completed the acquisition of Roofing Industries Limited, a New Zealand-based manufacturer and supplier of steel roofing and cladding products. This strategic acquisition, effective from 30 September 2025, enhances Vulcan’s market position by expanding its product offerings and operational footprint in the residential, commercial, and rural markets across New Zealand.
Vulcan Steel Limited has announced its 2025 Annual Meeting of Shareholders, scheduled for October 31, 2025. The meeting will be held in a hybrid format, allowing shareholders to attend either in person or virtually. This approach aims to enhance shareholder engagement and accessibility, reflecting Vulcan’s commitment to inclusive corporate governance practices.
Vulcan Steel Ltd. announced the cessation of 231,362 performance share rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may impact the company’s operations by adjusting its issued capital, potentially affecting its market positioning and stakeholder interests.
Vulcan Steel Ltd. announced a change in the director’s interest, with Adrian John Casey acquiring 16,814 ordinary shares and disposing of 55,309 performance share rights. This adjustment in shareholding reflects ongoing changes in the company’s leadership structure, which could influence its strategic direction and stakeholder interests.
Vulcan Steel Ltd. announced a change in the director’s interest, specifically involving Rhys Jones. The change includes the acquisition of 67,427 ordinary shares and the disposal of 221,799 performance share rights. This adjustment reflects the company’s ongoing management of its long-term incentive plans, which are designed to align the interests of its directors with the company’s performance goals.
Vulcan Steel Ltd. announced the quotation of 101,055 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of September 25, 2025. This move is part of the company’s strategy to enhance its market presence and improve liquidity, potentially impacting its operational dynamics and offering new opportunities for stakeholders.
Vulcan Steel Limited has issued 101,055 fully paid ordinary shares following the exercise of unlisted performance share rights from its long-term incentive plan for the financial year ending June 2023. This move, compliant with the Corporations Act 2001, reflects Vulcan’s ongoing commitment to enhancing shareholder value and maintaining transparency in its operations, potentially impacting its market positioning and stakeholder confidence positively.
Vulcan Steel Ltd. announced a change in the director’s interest, specifically involving Russell Chenu, who acquired additional shares through Barratta Super Pty Ltd. The acquisition, conducted through on-market trades and an entitlement offer, reflects a significant increase in Chenu’s holdings, potentially impacting the company’s shareholder dynamics and market perception.
Vulcan Steel Ltd. announced a change in the director’s interest, with Carolyn Mary Steele acquiring an additional 2,223 ordinary shares, bringing her total to 22,223 shares. This acquisition was part of the retail component of a fully underwritten accelerated renounceable entitlement offer, reflecting the company’s strategic financial maneuvers to strengthen its market position.
Vulcan Steel Ltd. has announced a change in the director’s interest, with Barthold Willem Floris Bierens de Haan acquiring an additional 20,000 ordinary shares, bringing his total to 200,000 shares. This acquisition was part of the retail component of a fully underwritten accelerated renounceable entitlement offer, which could potentially strengthen the company’s capital position and enhance its market operations.
Vulcan Steel Ltd. announced a decrease in the substantial holding of Partitio Trustee Limited, Wayne Robert Boyd, and Ann Lorraine Clarke, from 5.558% to 4.9879% due to the completion of a fully underwritten 1 for 9 pro rata accelerated renounceable entitlement offer (AREO). This issuance of 14,643,513 new shares resulted in the dilution of their shareholding percentage, impacting the company’s shareholder structure.
Vulcan Steel Ltd. has announced the issuance of 4,674,506 ordinary shares at a price of A$5.95 per share, as part of a fully underwritten accelerated renounceable entitlement offer. This capital change, representing 3.2976% of the total class of financial products, is intended to strengthen the company’s financial position and support its strategic initiatives, potentially impacting its market positioning and stakeholder interests.
Vulcan Steel Ltd. announced the quotation of 4,674,506 fully paid ordinary securities on the Australian Securities Exchange, effective September 22, 2025. This move is part of previously announced transactions and is expected to enhance the company’s market presence and provide additional liquidity for stakeholders.
Vulcan Steel Limited has successfully completed its retail shortfall bookbuild component of a 1 for 9 fully underwritten pro rata accelerated renounceable entitlement offer, raising approximately A$87.1 million through the issuance of 14.6 million new shares. This capital raise supports Vulcan’s acquisition of Roofing Industries Limited, which aligns with its growth strategy by expanding its product offerings and opening a new vertical, thereby enhancing its market position.
Vulcan Steel Limited has successfully completed the retail entitlement offer segment of its 1 for 9 fully underwritten pro rata accelerated renounceable entitlement offer, raising approximately A$87.1 million. This initiative involved issuing 14.6 million new shares, with a significant participation rate of 57% from eligible retail shareholders. The remaining shares, not taken up by eligible shareholders, will be offered in a retail shortfall bookbuild. The new shares are set to commence trading on the ASX and NZX, aligning with Vulcan’s strategic financial initiatives to strengthen its capital base.
The New Zealand Superannuation Fund (NZSF) has increased its substantial holding in Vulcan Steel Ltd. (VSL) from 5.143% to 6.688% as of September 2025. This change results from NZSF’s acquisition of additional shares through market purchases and participation in an entitlement offer, reflecting a strategic move to strengthen its position in VSL, potentially impacting the company’s market dynamics and shareholder value.