Flagship Growth Portfolio – Amendments
We are selling two holdings in the Flagship Growth Portfolio to increase cash into prevailing strength
Emeco Holdings (EHL)
EHL $1.27
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 1.27
- Change
- ▲ 0.02 (1.60)
- Bid / Ask
- 1.27 - 1.27
- Volume
- 1,920,365
- Turnover
- 1,284,916
- Open
- 1.25
- Day Range
- 1.25 - 1.29
- VWAP
- 1.27
- Prev Close
- 1.25
- Last Trade
- 10/11 4:10pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Industrials
- Shares Issued
- 516,409,007
- NTA/Share
- 1.51
- Last Dividend
- —
- Dividend Ex Date
- —
- Dividend Pay Date
- —
Current (AUD) · FY2026
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 792.84
- EBITDA
- 275.24
- Profit
- 76.66
- Earnings Per Share (EPS)
- 0.15
- Dividend Per Share (DPS)
- —
- Yield %
- 0.00
- Market Cap
- 655.84
- Price to Earnings Ratio (P/E)
- 8.59
Estimates (AUD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 799.10
- EBITDA
- —
- Profit
- 90.80
- Earnings Per Share (EPS)
- 0.18
- Dividend Per Share (DPS)
- 0.00
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Undervalued
- Economic Moat
- None
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 1.46 Fair value 1.70 One-star price 1.98
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 1.70
- Price / Fair Value
- 0.76
- Valuation
- Undervalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (1.46) to the one-star price (1.98).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 1.29 |
| Price - 12 month high | 1.46 |
| Price - 12 month low | 0.91 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 0.58 |
| Market capitalization | 666.17 |
| 12 Month High price date | 19 FEB 2026 |
| 12 Month Low price date | 18 JUN 2026 |
| Volume - avg. trading volume for the last 3 months | 0.68 |
| Price - 1 Day % Change | -1.53% |
| Price - 13 week price percent change | 31.63% |
| Price - 26 week price percent change | 21.13% |
| Price - 5 Day % Change | -0.77% |
| Price - 52 week price percent change | 11.21% |
| Price - YTD price percent change | 4.45% |
| Price % Change Month To Date | 5.74% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 0.148 |
| EPS excluding extraordinary items - trailing 12 month | 0.148 |
| EPS Normalized - most recent fiscal year | 0.172 |
| Revenue/share - most recent fiscal year | 1.529 |
| Revenue/share - trailing 12 month | 1.529 |
| Book value per share - most recent fiscal year | 1.528 |
| Book value per share - most recent half-year | 1.528 |
| Book value (tangible) per share - most recent fiscal year | 1.513 |
| Book value (tangible) per share - most recent half-year | 1.513 |
| Cash per share - most recent fiscal year | 0.242 |
| Cash per share - most recent half-year | 0.242 |
| Cash Flow per share - most recent fiscal year | 0.514 |
| Cash Flow per share - trailing 12 month | 0.514 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 0.531 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.148 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.148 |
| EPS including extraordinary items - most recent fiscal year | 0.148 |
| EPS including extraordinary items - trailing 12 month | 0.148 |
| Free Cash Flow per share - trailing 12 month | 0.151 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 8.72 |
| P/E Normalized, most recent fiscal year | 7.51 |
| Price to sales - most recent fiscal year | 0.84 |
| Price to Tangible Book - most fiscal year | 0.85 |
| Price to Free Cash Flow per Share - most recent fiscal year | 8.57 |
| Price to Cash Flow per share - trailing 12 month | 2.51 |
| Price to Book - most recent fiscal year | 0.84 |
| P/E excluding extraordinary items high, trailing 12 months | 10.25 |
| P/E excluding extraordinary items low, trailing 12 months | 6.29 |
| Net Debt, LFI | 143.34 |
| Net Debt, LFY | 127.05 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 78.02 |
| LT debt/equity - most recent fiscal year | 28.37% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 31.86% |
| LT debt/equity - most recent half-year | 5.85% |
| Total debt/total equity - most recent half-year | 41.63% |
| Free Cash Flow - trailing 12 month | 78.02 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 792.84 |
| Revenue - trailing 12 month | 792.84 |
| EBITD - most recent fiscal year | 275.24 |
| EBITD - trailing 12 month | 275.24 |
| Earnings before taxes - most recent fiscal year | 109.33 |
| Earnings before taxes - trailing 12 month | 109.33 |
| Net Income available to common - most recent fiscal year | 76.66 |
| Net Income available to common - trailing 12 months | 76.66 |
| Earnings before taxes Normalized - most recent fiscal year | 114.23 |
| Net Income Available to Common, Normalized - most recent fiscal year | 89.02 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.17 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 9.67% |
| Net Profit Margin % - trailing 12 month | 9.67% |
| Operating margin - 1st historical fiscal year | 16.19% |
| Operating margin - trailing 12 month | 16.19% |
| Pretax margin - trailing 12 month | 13.79% |
| Pretax margin - 1st historical fiscal year | 13.79% |
| Operating Margin - 5 year average | 14.81% |
| Pretax Margin - 5 year average | 10.92% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 6.65% |
| Free Operating Cash Flow/Revenue, TTM | 9.84% |
| Net Profit Margin - 5 year average | 7.79% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 5.94% |
| Return on average assets - trailing 12 month | 5.94% |
| Return on average equity - most recent fiscal year | 10.16% |
| Return on average equity - trailing 12 month | 10.16% |
| Return on average assets - 5 year average | 5.34% |
| Return on average equity - 5 year average | 9.63% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 5.02% |
| EPS growth rate, 5 year | 30.15% |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 5.19% |
| Growth rate% - Revenue, 3 year | -3.23% |
| Growth rate% - EPS, 3 year | 23.51% |
| Book value per share growth rate, 5 year | 9.20% |
| Capital Spending growth rate, 5 year | 4.12% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 3.12% |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Emeco Holdings (EHL) 95.5c
Most portfolios have a “dog” lurking in their midst and ours undoubtedly is mining equipment rental business EHL which although it’s doubled over the last year has failed to regain the vast majority of it’s COVID losses.
Emeco Holdings (EHL) $1.14
Emeco Holdings (EHL) -8.06%: gave back yesterday’s for similar reasons to Boral today. The stock ran yesterday on a solid result from peer Imdex (IMD) but Emeco didn’t really live up to the hype today despite posting half year numbers more or less in line with the street.
Emeco (EHL) – AGM & trading update
Emeco (EHL) +8.05%: Another beaten up cyclical that was out with a more positive update this morning, although from MM’s perspective it was simply a reiteration of guidance and a reinforcement of the path the company has been on over the past year. As they suggested today, the balance sheet is now the best its been since listing in 2006 and the trends on the earnings side are positive overall, although a bit lumpy. Weakness in coal prices hurt, however this is being offset by strength in Gold. All up, a decent update that was taken more as a relief by the market which seemed to think they would miss their stated EBITDA guidance of $115-118m for the half to Dec (consensus was $114m)
Action
Updated
14/04/2021
11:33
EHL
Updated 14/04/2021 11:33
MM are selling EHL in the Flagship Growth Portfolio, taking loss & increasing cash around 95c
Updated
14/04/2021
11:27
EHL
Updated 14/04/2021 11:27
MM is considering cutting our loss on EHL around 95c
Updated
12/11/2020
22:42
EHL
Updated 12/11/2020 22:42
A beaten up cyclical on the improve – we are patient holders for now
Updated
21/10/2020
15:12
EHL
Updated 21/10/2020 15:12
MM is bullish EHL below $1.00
Updated
08/10/2020
18:55
EHL
Updated 08/10/2020 18:55
MM remains bullish equities medium-term
Business Summary
Emeco Holdings Ltd is engaged in the provision of surface and underground mining equipment rental and complementary equipment and workshop and field services, including maintenance, asset and component rebuilds, fleet optimisation technology, and technical and engineering services. Its segments are Rental provides a wide range of surface and underground earthmoving equipment solutions to customers in Australia. Additional technology platforms have been developed to enable customers to improve earthmoving efficiencies of their rental machines; and Workshops provides maintenance, equipment and component rebuild services to customers in Australia. Majority of revenue comes from Rental segment.
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