NRW Holdings Past Earnings Performance
Past criteria checks 1/6
NRW Holdings's earnings have been declining at an average annual rate of -0.3%, while the Construction industry saw earnings growing at 27.9% annually. Revenues have been growing at an average rate of 9.7% per year. NRW Holdings's return on equity is 7.6%, and it has net margins of 1.4%.
Key information
-0.32%
Earnings growth rate
-1.21%
EPS growth rate
| Construction Industry Growth | 15.20% |
| Revenue growth rate | 9.71% |
| Return on equity | 7.60% |
| Net Margin | 1.36% |
| Last Earnings Update | 31 Dec 2025 |
Recent past performance updates
Recent updates
Narrative Update • Apr 27
NWH: Dividend And 2026 Meeting Outlook Will Support Balanced Fair Value
Analysts have made a small upward move in their price target for NRW Holdings to A$6.59 from A$6.56, citing updated assumptions around revenue growth, profit margins, and future P/E levels. What's in the News NRW Holdings has scheduled a special or extraordinary shareholders meeting for April 28, 2026, at Corrs Chambers Westgarth, St Georges Terrace in Perth, Australia (company announcement).Narrative Update • Apr 12
NWH: Dividend And 2026 Guidance Will Support Balanced Fair Value Outlook
Analysts have slightly reduced their price target for NRW Holdings, with fair value moving from A$6.64 to A$6.56. This change reflects updated assumptions on revenue growth, profit margins and future P/E multiples.Narrative Update • Mar 27
NWH: Dividend And 2026 Revenue Guidance Will Support Undervalued Upside
Analysts have nudged their price target on NRW Holdings marginally lower to A$6.64 from A$6.67, reflecting slightly updated assumptions for the discount rate, revenue growth, profit margin and future P/E, without a major shift in their overall view. What's in the News NRW Holdings has called a special or extraordinary shareholders meeting for April 28, 2026, at the Corrs Chambers Westgarth boardroom in Perth, Australia (Key Developments).Narrative Update • Mar 11
NWH: Dividend And 2026 Earnings Guidance Will Support Undervalued Upside
Analysts have trimmed their long term discount rate and slightly adjusted future P/E assumptions for NRW Holdings, which has led to a small recalibration in their A$ price target while keeping their core fair value estimate steady at A$6.67. What's in the News NRW Holdings announced a fully franked ordinary dividend of A$0.085 per share for the six months ended December 31, 2025, with payment scheduled for April 9, 2026, a record date of March 24, 2026, and an ex date of March 23, 2026 (Key Developments).Narrative Update • Feb 25
NWH: Dividend And Earnings Guidance Will Support Steady Fair Value
Analysts have lifted their price target for NRW Holdings from A$5.45 to A$6.67, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News NRW Holdings declared a fully franked ordinary dividend of A$0.085 per share for the six months ended December 31, 2025, payable on April 9, 2026, with a record date of March 24, 2026 and ex date of March 23, 2026 (Key Developments).
New Narrative • Feb 20
Lithium Processing Bets And Public Infrastructure Exposure Will Increase Earnings Risk
Catalysts About NRW Holdings NRW Holdings is a diversified contract services group working across mining, civil infrastructure, engineering, construction, and electrical and mechanical services in Australia. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 10
NWH: Earnings Outlook And Dividend Will Continue To Support Steady Fair Value
Analysts have kept their price target for NRW Holdings broadly steady at A$5.45, with the slight adjustment based on updated assumptions for the discount rate, revenue growth, profit margins and a future P/E of 17.43x. Valuation Changes Fair Value Estimate: Kept steady at A$5.45 per share, with no change in the modelled fair value.Narrative Update • Jan 26
NWH: Earnings Outlook And Dividend Will Continue To Support Measured Fair Value
Narrative Update Analysts have edged their price target for NRW Holdings higher to A$5.45 from A$5.23, reflecting updated assumptions for slightly stronger revenue growth, modestly higher profit margins and a higher future P/E multiple. Valuation Changes Fair Value: The updated estimate increased slightly from A$5.23 to A$5.45.Narrative Update • Jan 12
NWH: Earnings Outlook And Dividend Will Continue To Support Fair Value
Narrative Update Overview The analyst price target for NRW Holdings has been revised slightly higher to A$5.23 from A$5.23. Analysts point to small updates in discount rate assumptions, revenue growth expectations, profit margin estimates and future P/E inputs as the main drivers of the change.Narrative Update • Dec 19
NWH: Earnings Outlook And Dividend Will Continue To Support Fair Value
Analysts have nudged their price target for NRW Holdings slightly higher to align with its updated fair value of $5.23 per share, reflecting marginally stronger expectations for revenue growth and profit margins. Valuation Changes Fair Value: Unchanged at A$5.23 per share, indicating no material revision to the core valuation estimate.Analysis Article • Dec 11
NRW Holdings Limited (ASX:NWH) Shares Could Be 43% Below Their Intrinsic Value Estimate
Key Insights Using the 2 Stage Free Cash Flow to Equity, NRW Holdings fair value estimate is AU$8.94 Current share...Narrative Update • Dec 04
NWH: Earnings Outlook And Dividend Will Continue To Support Fair Value
Analysts have modestly lifted their price target on NRW Holdings to approximately $5.23 from about $5.03 per share, citing slightly stronger expected revenue growth and a higher future earnings multiple that more than offset a marginally lower profit margin assumption. Valuation Changes Fair Value: increased slightly from A$5.03 to A$5.23 per share.Narrative Update • Nov 20
NWH: Earnings Outlook and Dividend Will Continue to Support Fair Value
Analysts have reaffirmed their price target for NRW Holdings at $5.03, citing an unchanged growth outlook and profitability forecasts, even though there have been minor revisions to underlying assumptions. Valuation Changes Fair Value: Remains unchanged at A$5.03 per share.Narrative Update • Nov 06
NWH: Earnings Guidance and Dividend to Support Fair Value Outlook
NRW Holdings' analyst consensus price target has been raised from $4.80 to $5.03. This reflects analysts' increased confidence in its fair value following updated financial assumptions.Narrative Update • Oct 22
Analysts Raise NRW Holdings Price Target as Revenue and Profit Forecasts Improve
NRW Holdings' analyst price target has increased from $4.51 to $4.80, as analysts cite improved revenue growth and profit margin forecasts. What's in the News NRW Holdings has issued new earnings guidance for 2026 and expects revenue to exceed $3.4 billion.Narrative Update • Oct 08
Global Critical Mineral Demand Will Transform Australian Mining
Analysts have increased their price target for NRW Holdings from $4.34 to $4.51. They cite improved revenue growth forecasts and a slight upward revision to the company’s fair value assessment.Narrative Update • Sep 11
Global Critical Mineral Demand Will Transform Australian Mining
The upward revision in NRW Holdings’ fair value is primarily driven by improved consensus revenue growth forecasts, resulting in the analyst price target increasing from A$4.16 to A$4.34. What's in the News NRW Holdings expects revenue to exceed $3.4 billion in 2026.Analysis Article • Sep 04
NRW Holdings Limited's (ASX:NWH) P/E Is Still On The Mark Following 28% Share Price Bounce
NRW Holdings Limited ( ASX:NWH ) shares have continued their recent momentum with a 28% gain in the last month alone...Analysis Article • Sep 03
NRW Holdings' (ASX:NWH) Shareholders Will Receive A Bigger Dividend Than Last Year
The board of NRW Holdings Limited ( ASX:NWH ) has announced that it will be increasing its dividend by 5.6% on the 8th...Narrative Update • Aug 22
South Walker Creek $16 Billion Contract And Magnetite Operations Will Strengthen Future Prospects
Despite a reduction in consensus revenue growth forecasts, expectations of improved net profit margins have contributed to a higher consensus analyst price target for NRW Holdings, which has been revised upward from A$3.52 to A$3.78. What's in the News NRW Holdings provided earnings guidance for 2026, expecting revenue to exceed $3.4 billion.Analysis Article • Apr 29
NRW Holdings (ASX:NWH) Shareholders Will Want The ROCE Trajectory To Continue
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
New Narrative • Mar 09
South Walker Creek $16 Billion Contract And Magnetite Operations Will Strengthen Future Prospects
Strong contract acquisitions and extensions across segments suggest sustained revenue growth and potential margin improvement from high-revenue projects.Analysis Article • Jan 13
Why NRW Holdings Limited (ASX:NWH) Could Be Worth Watching
NRW Holdings Limited ( ASX:NWH ), is not the largest company out there, but it saw significant share price movement...Analysis Article • Nov 20
Here's Why Shareholders May Want To Be Cautious With Increasing NRW Holdings Limited's (ASX:NWH) CEO Pay Packet
Key Insights NRW Holdings will host its Annual General Meeting on 27th of November CEO Jules Pemberton's total...Analysis Article • Sep 06
Does NRW Holdings (ASX:NWH) Deserve A Spot On Your Watchlist?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Aug 21
NRW Holdings' (ASX:NWH) Shareholders Will Receive A Bigger Dividend Than Last Year
The board of NRW Holdings Limited ( ASX:NWH ) has announced that it will be increasing its dividend by 13% on the 9th...Analysis Article • Feb 21
We Think That There Are Some Issues For NRW Holdings (ASX:NWH) Beyond Its Promising Earnings
NRW Holdings Limited's ( ASX:NWH ) healthy profit numbers didn't contain any surprises for investors. We think this is...Analysis Article • Jan 16
Is There Now An Opportunity In NRW Holdings Limited (ASX:NWH)?
NRW Holdings Limited ( ASX:NWH ), might not be a large cap stock, but it saw a decent share price growth of 12% on the...Analysis Article • Dec 20
NRW Holdings Limited (ASX:NWH) Might Not Be As Mispriced As It Looks
With a price-to-earnings (or "P/E") ratio of 15.6x NRW Holdings Limited ( ASX:NWH ) may be sending bullish signals at...Analysis Article • Sep 23
Is NRW Holdings Limited (ASX:NWH) Potentially Undervalued?
NRW Holdings Limited ( ASX:NWH ), is not the largest company out there, but it saw a decent share price growth in the...Analysis Article • Aug 28
NRW Holdings (ASX:NWH) Is Increasing Its Dividend To A$0.08
NRW Holdings Limited ( ASX:NWH ) will increase its dividend from last year's comparable payment on the 11th of October...Analysis Article • Jun 08
When Should You Buy NRW Holdings Limited (ASX:NWH)?
While NRW Holdings Limited ( ASX:NWH ) might not be the most widely known stock at the moment, it saw a double-digit...Analysis Article • Feb 18
NRW Holdings (ASX:NWH) Has Announced That It Will Be Increasing Its Dividend To A$0.085
The board of NRW Holdings Limited ( ASX:NWH ) has announced that it will be paying its dividend of A$0.085 on the 6th...Analysis Article • Feb 02
NRW Holdings (ASX:NWH) Is Doing The Right Things To Multiply Its Share Price
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Nov 02
Here's Why Shareholders May Want To Be Cautious With Increasing NRW Holdings Limited's (ASX:NWH) CEO Pay Packet
CEO Jules Pemberton has done a decent job of delivering relatively good performance at NRW Holdings Limited ( ASX:NWH...Analysis Article • Sep 23
Is It Too Late To Consider Buying NRW Holdings Limited (ASX:NWH)?
NRW Holdings Limited ( ASX:NWH ), is not the largest company out there, but it led the ASX gainers with a relatively...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How NRW Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 3,590 | 49 | 1,386 | 0 |
| 30 Sep 25 | 3,429 | 38 | 1,316 | 0 |
| 30 Jun 25 | 3,268 | 28 | 1,245 | 0 |
| 31 Mar 25 | 3,203 | 71 | 1,171 | 0 |
| 31 Dec 24 | 3,138 | 115 | 1,097 | 0 |
| 30 Sep 24 | 3,026 | 110 | 1,066 | 0 |
| 30 Jun 24 | 2,913 | 105 | 1,035 | 0 |
| 31 Mar 24 | 2,836 | 97 | 1,010 | 0 |
| 31 Dec 23 | 2,758 | 89 | 985 | 0 |
| 30 Sep 23 | 2,714 | 87 | 958 | 0 |
| 30 Jun 23 | 2,669 | 86 | 931 | 0 |
| 31 Mar 23 | 2,629 | 85 | 902 | 0 |
| 31 Dec 22 | 2,589 | 84 | 872 | 0 |
| 30 Sep 22 | 2,478 | 87 | 833 | 0 |
| 30 Jun 22 | 2,367 | 90 | 795 | 0 |
| 31 Mar 22 | 2,283 | 80 | 772 | 0 |
| 31 Dec 21 | 2,199 | 70 | 749 | 0 |
| 30 Sep 21 | 2,210 | 62 | 734 | 0 |
| 30 Jun 21 | 2,221 | 54 | 720 | 0 |
| 31 Mar 21 | 2,290 | 62 | 708 | 0 |
| 31 Dec 20 | 2,358 | 69 | 697 | 0 |
| 30 Sep 20 | 2,181 | 72 | 633 | 0 |
| 30 Jun 20 | 2,004 | 74 | 570 | 0 |
| 31 Mar 20 | 1,686 | 56 | 521 | 0 |
| 31 Dec 19 | 1,368 | 37 | 473 | 0 |
| 30 Sep 19 | 1,223 | 35 | 424 | 0 |
| 30 Jun 19 | 1,078 | 32 | 376 | 0 |
| 31 Mar 19 | 972 | 44 | 329 | 0 |
| 31 Dec 18 | 867 | 55 | 282 | 0 |
| 30 Sep 18 | 776 | 49 | 261 | 0 |
| 30 Jun 18 | 685 | 42 | 241 | 0 |
| 31 Mar 18 | 586 | 37 | 203 | 0 |
| 31 Dec 17 | 486 | 32 | 166 | 0 |
| 30 Sep 17 | 415 | 30 | 148 | 0 |
| 30 Jun 17 | 345 | 29 | 130 | 0 |
| 31 Mar 17 | 327 | 28 | 124 | 0 |
| 31 Dec 16 | 309 | 27 | 117 | 0 |
| 30 Sep 16 | 298 | 24 | 115 | 0 |
| 30 Jun 16 | 288 | 21 | 113 | 0 |
| 31 Mar 16 | 322 | -41 | 193 | 0 |
| 31 Dec 15 | 356 | -103 | 273 | 0 |
| 30 Sep 15 | 566 | -166 | 353 | 0 |
| 30 Jun 15 | 776 | -230 | 433 | 0 |
Quality Earnings: NWH has high quality earnings.
Growing Profit Margin: NWH's current net profit margins (1.4%) are lower than last year (3.7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: NWH's earnings have declined by 0.3% per year over the past 5 years.
Accelerating Growth: NWH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: NWH had negative earnings growth (-57.6%) over the past year, making it difficult to compare to the Construction industry average (12.2%).
Return on Equity
High ROE: NWH's Return on Equity (7.6%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/12 16:44 |
| End of Day Share Price | 2026/05/12 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
NRW Holdings Limited is covered by 19 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Megan Kirby-Lewis | Barrenjoey Markets Pty Limited |
| Cameron Needham | BofA Global Research |
| Shaurya Visen | BofA Global Research |