NRW Holdings Limited

ASX:NWH Stock Report

Market Cap: AU$1.8b

NRW Holdings Valuation

Is NWH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NWH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NWH (A$3.92) is trading below our estimate of fair value (A$4.46)

Significantly Below Fair Value: NWH is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NWH?

Key metric: As NWH is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NWH. This is calculated by dividing NWH's market cap by their current earnings.
What is NWH's PE Ratio?
PE Ratio17.1x
EarningsAU$105.10m
Market CapAU$1.80b

Price to Earnings Ratio vs Peers

How does NWH's PE Ratio compare to its peers?

The above table shows the PE ratio for NWH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.3x
MND Monadelphous Group
19.8x8.2%AU$1.2b
JLG Johns Lyng Group
25x11.9%AU$1.2b
VNT Ventia Services Group
19.3x8.0%AU$3.9b
MGH MAAS Group Holdings
20.9x17.5%AU$1.5b
NWH NRW Holdings
17.1x11.0%AU$1.8b

Price-To-Earnings vs Peers: NWH is good value based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (21.3x).

Price to Earnings Ratio vs Industry

How does NWH's PE Ratio compare vs other companies in the AU Construction Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
NWH 17.1xIndustry Avg. 15.0xNo. of Companies3PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NWH is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the Global Construction industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is NWH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NWH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.1x
Fair PE Ratio20.5x

Price-To-Earnings vs Fair Ratio: NWH is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (20.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NWH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$3.92
AU$3.91
-0.4%
6.2%AU$4.35AU$3.37n/a10
Nov ’25AU$3.87
AU$3.91
+0.9%
6.2%AU$4.35AU$3.37n/a10
Oct ’25AU$3.65
AU$3.83
+4.8%
4.9%AU$4.10AU$3.37n/a10
Sep ’25AU$3.56
AU$3.84
+7.9%
5.1%AU$4.10AU$3.37n/a10
Aug ’25AU$3.33
AU$3.39
+1.9%
10.1%AU$4.00AU$2.70n/a9
Jul ’25AU$3.04
AU$3.27
+7.5%
9.9%AU$4.00AU$2.70n/a9
Jun ’25AU$3.08
AU$3.27
+6.1%
9.9%AU$4.00AU$2.70n/a9
May ’25AU$2.76
AU$3.23
+17.1%
9.9%AU$4.00AU$2.70n/a10
Apr ’25AU$2.93
AU$3.23
+10.3%
9.9%AU$4.00AU$2.70n/a10
Mar ’25AU$3.05
AU$3.23
+5.9%
9.9%AU$4.00AU$2.70n/a10
Feb ’25AU$2.72
AU$3.04
+11.8%
6.1%AU$3.40AU$2.70n/a9
Jan ’25AU$2.98
AU$3.04
+1.9%
6.3%AU$3.40AU$2.70n/a9
Dec ’24AU$2.77
AU$3.07
+11.0%
6.9%AU$3.41AU$2.70n/a10
Nov ’24AU$2.48
AU$3.11
+25.3%
7.0%AU$3.41AU$2.70AU$3.879
Oct ’24AU$2.71
AU$3.11
+14.7%
7.0%AU$3.41AU$2.70AU$3.659
Sep ’24AU$2.82
AU$3.10
+9.9%
7.4%AU$3.41AU$2.70AU$3.568
Aug ’24AU$2.69
AU$3.02
+12.1%
8.7%AU$3.41AU$2.50AU$3.338
Jul ’24AU$2.53
AU$3.02
+19.2%
8.7%AU$3.41AU$2.50AU$3.048
Jun ’24AU$2.14
AU$3.00
+40.3%
9.0%AU$3.41AU$2.50AU$3.088
May ’24AU$2.45
AU$2.94
+20.2%
8.0%AU$3.29AU$2.50AU$2.767
Apr ’24AU$2.40
AU$2.94
+22.7%
8.0%AU$3.29AU$2.50AU$2.937
Mar ’24AU$2.56
AU$2.93
+14.3%
7.7%AU$3.29AU$2.50AU$3.058
Feb ’24AU$2.99
AU$2.84
-4.9%
9.7%AU$3.32AU$2.50AU$2.728
Jan ’24AU$2.81
AU$2.84
+1.2%
9.7%AU$3.32AU$2.50AU$2.988
Dec ’23AU$2.69
AU$2.83
+5.4%
10.3%AU$3.32AU$2.50AU$2.777
Nov ’23AU$2.61
AU$2.83
+8.6%
10.3%AU$3.32AU$2.50AU$2.487

Analyst Forecast: Target price is lower than the current share price.

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