The ASX Starter Pack holds NRW Holdings. The contractor released its FY26 full year result on Thursday 20 August 2026, covering the 12 months to 30 June 2026.
Revenue rose 31.4% to $4.29 billion, above the Visible Alpha consensus of $4.19 billion. Underlying EBITA gained 38.8% to $288.6 million, lifting the margin to 6.7% from 6.4%, while EBITDA reached $486.2 million against $391.0 million. Statutory NPAT came in at $153.4 million, up from $27.7 million in FY25 but short of the $161.3 million consensus. Underlying NPAT rose 43.6% to $182.7 million and underlying EPS rose 42.9% to 39.8 cents. Directors declared a fully franked final dividend of 14.5 cents, 53% above the FY25 final and payable in October, taking the full year distribution to 23 cents.
| Metric | Actual | Comparison |
| Revenue | $4.29b | Consensus $4.19b; FY25 $3.27b |
| Underlying EBITA | $288.6m | FY25 $207.9m |
| EBITDA | $486.2m | FY25 $391.0m |
| Statutory NPAT | $153.4m | Consensus $161.3m; FY25 $27.7m |
| Underlying NPAT | $182.7m | FY25 $127.2m |
| Underlying EPS | 39.8c | FY25 27.9c |
| Final dividend | 14.5c franked | FY25 final 9.5c |
Fredon, acquired during the first half, became a fourth segment covering electrical, mechanical, infrastructure and technology work. It delivered $684.3 million of revenue and $36.1 million of underlying EBITA across nine months of ownership, a 5.3% margin. CFO Peter Bryant told the results call the division improved through the second half and that the company is “targeting 6% by at least run rating by the end of FY 2027.” The deal extends NRW into defence, data centres and commercial construction.
NRW carried an order book of $7.5 billion into FY27 with roughly 85% of guided revenue already secured. CEO Jules Pemberton said: “We maintained an order book of AUD 7.5 billion, and the pipeline since our last presentation has now grown to AUD 29.8 billion.” Submitted tenders account for $11.1 billion of that. Guidance for FY27 sets revenue at $4.6 billion to $4.8 billion and underlying EBITA at $320 million to $330 million, with capital expenditure near $165 million. Cash finished at $319.7 million on 94% operating cash conversion, and leverage sat at 0.37 times underlying EBITA.
The shares closed at $7.59 on 20 August, up 5.27%. They added a further 8.04% the following session to $8.20.
