WestStar Industrial Ltd. (WSI) AI Stock Analysis

• Market Cap: AU$9.79M
• Dividend Yield: N/A
• Average Volume (3M): 767.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: -36.40%
• EPS Growth: -192.91%
• Country: AU
• Employees: 650
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.02
• Shares Outstanding: 128,765,240
• 10 Day Avg. Volume: 288,855
• 30 Day Avg. Volume: 767,174
• PEG Ratio: 0.01
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 0.06
• P/FCF Ratio: -0.79
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: AU$0.08 ▲(10.00% Upside)

WestStar Industrial Ltd. faces significant financial challenges, with declining revenues and negative profitability metrics being the most impactful factors. Technical analysis shows a neutral to slightly bearish trend, while valuation metrics are unattractive due to a negative P/E ratio and no dividend yield. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Business Model Strength

The diversified revenue streams from project management, engineering, and maintenance services provide stability and reduce dependency on a single sector.

Long-term Partnerships

Long-term partnerships with key industry players ensure a consistent revenue base and enhance the company's market position.

Moderate Leverage

Moderate leverage indicates financial prudence, allowing the company to manage debt obligations without excessive risk to its balance sheet.

Negative Factors

Declining Revenue

A significant decline in revenue indicates challenges in maintaining market share and could impact long-term financial health and growth prospects.

Negative Profitability Metrics

Negative profitability metrics highlight operational inefficiencies, which may hinder the company's ability to invest in growth and innovation.

Cash Flow Challenges

Negative operating cash flow raises concerns about liquidity and the company's ability to fund operations and meet financial obligations.

WestStar Industrial Ltd. Business Overview & Revenue Model

Company Description

WestStar Industrial Limited, an industrial services company, provides engineering, construction, and mining services to resource, energy, and infrastructure sectors in Australia. The company operates through SIMPEC and Alltype segments. Its services include structural mechanical piping, and electrical and instrumentation; precast concrete and structural steel supply and installation; and asset management services. The company also provides construction contracting, fabrication, and mineral exploration services. WestStar Industrial Limited was incorporated in 2006 and is based in Naval Base, Australia.

How the Company Makes Money

WestStar Industrial Ltd. generates revenue through multiple streams including service contracts in project management and engineering, fabrication services for various industrial components, and ongoing maintenance contracts with key clients in the oil and gas, mining, and infrastructure sectors. The company often engages in long-term partnerships with major industry players, which provides a steady flow of income. Additionally, WSI benefits from cost-plus contracts and fixed-price agreements that ensure profitability while managing risks associated with project execution.

WestStar Industrial Ltd. Financial Statement Overview

Summary

WestStar Industrial Ltd. is facing significant financial challenges, with declining revenues and negative profitability metrics. The balance sheet shows moderate leverage, but the negative return on equity is a concern. Cash flow issues persist, with negative operating cash flow and reliance on non-operational cash flows.

Income Statement

WestStar Industrial Ltd. has experienced a significant decline in revenue over the past year, with a revenue growth rate of -24.4% in 2025. The company also reported negative EBIT and EBITDA margins, indicating operational challenges. The gross profit margin remains relatively stable at 14.5%, but the net profit margin is negative, reflecting overall profitability issues.

Balance Sheet

The company's debt-to-equity ratio is moderate at 0.23, suggesting manageable leverage. However, the return on equity is negative, indicating that the company is not generating sufficient returns on shareholder investments. The equity ratio is not provided, but the overall balance sheet shows a decrease in stockholders' equity, which could be a concern for financial stability.

Cash Flow

WestStar Industrial Ltd. has a negative operating cash flow, which is concerning for liquidity. The free cash flow growth rate is positive, but the free cash flow to net income ratio is above 1, indicating reliance on non-operational cash flows. The operating cash flow to net income ratio is negative, further highlighting cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	130.76M	130.76M	205.60M	304.28M	181.80M	71.76M
Gross Profit	18.94M	18.94M	24.63M	16.82M	18.19M	8.84M
EBITDA	-3.14M	-3.14M	7.72M	5.85M	8.58M	2.68M
Net Income	-3.41M	-3.41M	3.29M	1.76M	4.31M	837.48K
Balance Sheet
Total Assets	55.15M	55.15M	73.27M	79.06M	63.06M	46.90M
Cash, Cash Equivalents and Short-Term Investments	7.16M	7.16M	13.68M	16.95M	22.42M	15.35M
Total Debt	6.29M	6.29M	3.65M	1.93M	2.63M	3.86M
Total Liabilities	27.33M	27.33M	43.28M	53.47M	39.41M	32.06M
Stockholders Equity	27.83M	27.83M	29.98M	25.59M	23.65M	14.83M
Cash Flow
Free Cash Flow	-9.53M	-9.53M	-327.96K	-6.26M	5.36M	9.88M
Operating Cash Flow	-8.85M	-8.85M	510.53K	-5.23M	6.99M	10.14M
Investing Cash Flow	1.82M	1.82M	-2.04M	1.04M	-3.41M	-3.07M
Financing Cash Flow	515.00K	515.00K	-911.90K	0.00	3.58M	-562.66K

WestStar Industrial Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WSI, the sentiment is Negative. The current price of 0.07 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and above the 200-day MA of 0.07, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.62 is Neutral, neither overbought nor oversold. The STOCH value of -17.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WSI.

WestStar Industrial Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVZ	69 Neutral	AU$26.23M	21.08	3.66%	―	-9.21%	-42.37%
VBC	66 Neutral	€33.60M	8.91	17.38%	0.69%	-8.28%	89.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BSA	61 Neutral	AU$8.66M	2.29	87.22%	―	12.34%	-66.13%
WSI	48 Neutral	AU$9.79M	-2.76	-11.81%	―	-36.40%	-192.91%
SOP	44 Neutral	AU$14.02M	-1.84	-90.66%	―	-6.10%	12.50%
PKD	42 Neutral	AU$4.34M	―	-599.49%	―	254.91%	75.86%

WestStar Industrial Ltd. Corporate Events

WestStar Industrial Ltd. Announces 2025 Annual General Meeting Details

WestStar Industrial Ltd. has announced its 2025 Annual General Meeting, scheduled for November 24, 2025, at Armada Auditing in Osborne Park, WA. The company encourages shareholders to vote by proxy to ensure an orderly meeting process, with details accessible online. This move reflects the company’s adaptation to modern communication methods, potentially enhancing shareholder engagement and operational efficiency.

WestStar’s SIMPEC Secures Major Contract at Alcoa Refinery

WestStar Industrial Limited’s subsidiary, SIMPEC, has secured a significant $115 million contract for the Main Procurement and Construction at Alcoa’s Pinjarra Alumina Refinery. This project aims to enhance processing capacity by converting bauxite residue into filter cake, reducing storage area requirements. The contract is a major milestone for SIMPEC, reinforcing its reputation for delivering complex industrial projects and showcasing its multidisciplinary capabilities.

WestStar Industrial Ltd. Releases 2025 Corporate Governance Statement

WestStar Industrial Ltd. has released its 2025 Corporate Governance Statement and Appendix 4G in compliance with ASX Listing Rules. This release underscores the company’s commitment to transparency and adherence to corporate governance standards, which is crucial for maintaining investor confidence and ensuring regulatory compliance.

WestStar Industrial Ltd. Releases 2025 Annual Report

WestStar Industrial Ltd. has released its Annual Report for 2025, detailing the company’s financial performance and strategic direction. The report provides insights into the company’s operations, highlighting its financial position and comprehensive income for the year. This release is significant for stakeholders as it outlines the company’s achievements and future outlook, impacting its industry positioning and operational strategy.

WestStar’s SIMPEC Secures $4 Million Contract for Lithium Project

WestStar Industrial Limited’s subsidiary, SIMPEC, has secured a $4 million contract to deliver structural, mechanical, and piping works at the Tianqi Lithium Hydroxide Processing operation in Kwinana, Western Australia. This project, which aims to enhance the facility’s capacity, aligns with SIMPEC’s strategy to support Australia’s energy transition and strengthens its position in the lithium and clean-energy sector. The project is expected to commence immediately and complete by Q4 2025, marking a significant milestone for SIMPEC as a trusted partner in complex industrial projects.

SIMPEC Secures $8 Million Contract for Western Harbour Tunnel Ventilation Systems

WestStar Industrial Limited’s subsidiary, SIMPEC, has secured an $8 million contract to supply and install mechanical packages for two ventilation systems as part of the NSW Government’s Western Harbour Tunnel project. This project is a significant infrastructure development aimed at improving transportation around Sydney by easing congestion on major routes. The contract marks a strategic expansion for SIMPEC on the east coast and reinforces its position in Australia’s infrastructure sector, promising enhanced operational capacity and stakeholder value.

WestStar Industrial Ltd. Reports Significant Financial Decline for FY 2025

WestStar Industrial Ltd. reported a significant decline in its financial performance for the fiscal year ending June 30, 2025. The company’s revenues fell by 36.4% to $130.758 million, and it recorded a substantial net loss of $3.415 million, marking a 203.7% decrease from the previous year. No dividends were declared for the period, highlighting the financial challenges faced by the company.