PLS Group Limited

ASX:PLS Stock Report

Market Cap: AU$20.5b

PLS Group Future Growth

Future criteria checks 4/6

PLS Group is forecast to grow earnings and revenue by 33.9% and 14.9% per annum respectively. EPS is expected to grow by 34.3% per annum. Return on equity is forecast to be 12.9% in 3 years.

Key information

33.9%

Earnings growth rate

34.33%

EPS growth rate

Metals and Mining earnings growth15.1%
Revenue growth rate14.9%
Future return on equity12.91%
Analyst coverage

Good

Last updated07 May 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 30

PLS: Index Inclusions And Steady Output Will Support Stronger Share Pricing

Analysts have raised their price target for PLS Group from A$5.80 to A$6.70, citing updated assumptions around revenue growth, profit margins and a higher future P/E multiple. What's in the News PLS Group Limited (ASX:PLS) has been added to the S&P/ASX 50 Index, bringing it into a wider group of large Australian listed companies that index funds and benchmarked investors track (Key Developments).
Narrative Update • Apr 15

PLS: Index Additions Will Not Prevent Future P/E Constraining Upside

Analysts have revised their price target on PLS Group to A$4.78 from A$4.57, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News PLS Group Limited (ASX:PLS) has been added to the S&P/ASX 50 Index, putting the company alongside some of the larger and more traded names on the Australian market (Key Developments).
Narrative Update • Apr 01

PLS: Lower Assumed Future P/E Will Constrain Share Price Upside

Analysts have lifted their price target for PLS Group to A$4.57 from A$3.00, reflecting updated assumptions for higher revenue growth, a stronger profit margin profile and a lower future P/E multiple. What's in the News PLS Group Limited added to the S&P/ASX 50 Index, increasing its visibility among large Australian equities (Key Developments).
Narrative Update • Mar 18

PLS: Higher Margins And Steady Output Will Support Stronger Share Pricing

Analysts have modestly revised their price target on PLS Group to A$5.80. This reflects slightly updated assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping their overall valuation view broadly unchanged.
Narrative Update • Mar 04

PLS: Higher Margins And Solid Output Will Support Stronger Share Pricing

Analysts have nudged their price target for PLS Group higher to A$5.80 from A$5.60, pointing to updated assumptions that combine a slightly higher discount rate with revised expectations for revenue growth, profit margins and future P/E. What's in the News PLS Group reported production results for the first half of fiscal 2026, with output of 432.8 Kt compared with 408.3 Kt in the same period a year earlier (Key Developments).
Narrative Update • Feb 17

PLS: Rich Multiple Will Likely Persist Despite Higher Margins And Rebranding

Analysts have raised their price target for PLS Group to A$2.63 from A$2.40, citing updated assumptions for higher revenue, improved profit margins and a lower future P/E multiple. What's in the News On November 25, 2025, Pilbara Minerals Limited changed its name to PLS Group Limited.
Narrative Update • Feb 03

PLS: Rebranding And Higher Margin Outlook Will Support Stronger Share Pricing

Analysts have raised their price target for PLS Group after updating their assumptions for fair value, revenue growth, profit margins and a lower future P/E multiple, resulting in a higher implied valuation for the shares. What's in the News On November 25, 2025, Pilbara Minerals Limited changed its name to PLS Group Limited, marking a formal rebranding of the listed entity (Key Developments).
Narrative Update • Jan 20

PLS: Rich Multiple Will Likely Outweigh Stronger Margins Going Forward

Analysts have raised their price target on PLS Group from A$2.10 to A$2.40, citing updated assumptions based on higher expected revenue, an improved profit margin profile and a lower future P/E estimate in their models. What's in the News PLS Group is the new corporate name for Pilbara Minerals Limited, following an official change on November 25, 2025.
Narrative Update • Jan 06

PLS: Elevated Future P/E Will Constrain Returns Despite Firmer Margins

The analyst price target for PLS Group remains at US$2.10, with analysts citing slightly adjusted assumptions for revenue growth, profit margins and future P/E as the basis for maintaining this level. What's in the News On November 25, 2025, Pilbara Minerals Limited changed its name to PLS Group Limited, reflecting the new corporate identity of the company (Key Developments).
Narrative Update • Dec 14

PLS: Future Profits Will Lag Stronger Revenue As Margins Compress

Analysts have raised their price target on PLS Group significantly to reflect stronger projected revenue growth and higher perceived fair value, despite moderating profit margin expectations and a higher discount rate. What's in the News Pilbara Minerals Limited has rebranded as PLS Group Limited, signaling a broader corporate identity and strategic repositioning (company announcement).
Narrative Update • Nov 30

PLS: Higher Discount Rate And Margin Pressure Will Limit Share Price Upside

Analysts have raised their price target for PLS Group from $2.89 to $3.00, citing revised expectations for slightly higher revenue growth and valuation multiples, even though there is a modest reduction in projected profit margins. What's in the News On November 25, 2025, Pilbara Minerals Limited changed its name to PLS Group Limited (Key Developments).
Analysis Article • Nov 18

We Think Pilbara Minerals Limited's (ASX:PLS) CEO Compensation Package Needs To Be Put Under A Microscope

Key Insights Pilbara Minerals to hold its Annual General Meeting on 25th of November CEO Dale Henderson's total...
Narrative Update • Nov 16

PLS: Rising Lithium Uncertainty Will Likely Limit Further Share Price Upside

The analyst price target for Pilbara Minerals has risen to A$2.89 from A$2.69. Analysts cite improving lithium prices and moderately stronger company fundamentals as key drivers of the upward revision.
Narrative Update • Nov 01

PLS: Recent Price Rally Will Limit Further Upside Amid Market Uncertainty

The average analyst price target for Pilbara Minerals has increased by A$0.46 to A$2.69, as analysts cite improving profit margins, stronger forecasted revenue growth, and expectations of firmer lithium prices as key drivers behind the upward revision. Analyst Commentary Recent updates from equity research firms reflect a diversity of opinion on the outlook for Pilbara Minerals, with revisions both upwards and downwards in response to developments in the lithium market and company-specific performance.
Narrative Update • Oct 17

Pilgangoora Expansion And Global Transition Will Empower Lithium Opportunities

Pilbara Minerals' analyst price target has been raised from A$2.16 to A$2.23, as analysts cite a shift towards higher lithium price expectations. This comes despite continued caution around sustainability and valuation in the sector.
Narrative Update • Oct 03

Pilgangoora Expansion And Global Transition Will Empower Lithium Opportunities

Pilbara Minerals' analyst price target has increased modestly, rising by A$0.03 to A$2.16. Analysts cite sustained high lithium prices but express caution regarding valuation following recent share price gains.
Narrative Update • Aug 27

Major Plant Expansions And Advanced Technology Will Unlock Lithium Potential

Analysts have raised Pilbara Minerals' price target to A$2.13, reflecting improved expectations for lithium prices and commodity fundamentals, though sentiment remains more neutral given recent share price appreciation and valuation concerns. Analyst Commentary Upward revisions to price targets based on expectations of higher lithium prices.
Analysis Article • Aug 27

AU$2.13 - That's What Analysts Think Pilbara Minerals Limited (ASX:PLS) Is Worth After These Results

Shareholders might have noticed that Pilbara Minerals Limited ( ASX:PLS ) filed its full-year result this time last...
Analysis Article • Aug 17

Improved Revenues Required Before Pilbara Minerals Limited (ASX:PLS) Stock's 29% Jump Looks Justified

Despite an already strong run, Pilbara Minerals Limited ( ASX:PLS ) shares have been powering on, with a gain of 29% in...
Analysis Article • Aug 01

A Look At The Intrinsic Value Of Pilbara Minerals Limited (ASX:PLS)

Key Insights The projected fair value for Pilbara Minerals is AU$2.08 based on 2 Stage Free Cash Flow to Equity Pilbara...
Analysis Article • Jul 03

Pilbara Minerals Limited (ASX:PLS) Shares Fly 34% But Investors Aren't Buying For Growth

Pilbara Minerals Limited ( ASX:PLS ) shareholders would be excited to see that the share price has had a great month...
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New Narrative • Dec 09

Strategic P1000 Expansion And POSCO Partnership Propel Lithium Growth And Boost Margins

Strategic projects and acquisitions aim to enhance production capacity, diversify revenue, and reduce costs, improving operational efficiency and future growth prospects.

Earnings and Revenue Growth Forecasts

ASX:PLS - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
6/30/20282,3099525721,13615
6/30/20272,3761,1787001,46213
6/30/20261,8564755671,12911
12/31/2025967-94-49286N/A
9/30/2025868-145-269216N/A
6/30/2025769-196-489146N/A
3/31/2025846-114-70333N/A
12/31/2024923-33-917-81N/A
9/30/20241,088112-1,083-261N/A
6/30/20241,254257-1,250-440N/A
3/31/20241,948813-286446N/A
12/31/20232,6411,3696771,333N/A
9/30/20233,3531,8801,8742,395N/A
6/30/20234,0642,3913,0713,457N/A
3/31/20233,5712,0402,5942,896N/A
12/31/20223,0781,6902,1172,336N/A
9/30/20222,1341,1261,3181,492N/A
6/30/20221,190562519648N/A
3/31/2022799323296389N/A
12/31/20214088473129N/A
9/30/2021292163574N/A
6/30/2021176-51-219N/A
3/31/2021141-54619N/A
12/31/2020105-571420N/A
9/30/202095-78-141N/A
6/30/202084-99-42-19N/A
3/31/202075-90-91-28N/A
12/31/201966-80-140-36N/A
9/30/201954-55N/A-23N/A
6/30/201943-29N/A-10N/A
3/31/201934-25N/A-11N/A
12/31/201825-21N/A-11N/A
9/30/201817-20N/A-10N/A
6/30/201810-19N/A-9N/A
3/31/20185-18N/A-10N/A
12/31/20170-17N/A-11N/A
9/30/20170-21N/A-14N/A
6/30/2017N/A-26N/A-16N/A
3/31/20170-44N/A-17N/A
12/31/20160-62N/A-18N/A
9/30/20160-59N/A-16N/A
6/30/20160-56N/A-15N/A
3/31/20160-37N/A-11N/A
12/31/20150-18N/A-8N/A
9/30/20150-12N/A-5N/A
6/30/20150-7N/A-2N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.6%).

Earnings vs Market: PLS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: PLS is expected to become profitable in the next 3 years.

Revenue vs Market: PLS's revenue (14.9% per year) is forecast to grow faster than the Australian market (6.4% per year).

High Growth Revenue: PLS's revenue (14.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PLS's Return on Equity is forecast to be low in 3 years time (12.9%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/07 16:48
End of Day Share Price 2026/05/07 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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

PLS Group Limited is covered by 33 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aryan NoroziBarrenjoey Markets Pty Limited
Glyn LawcockBarrenjoey Markets Pty Limited
Josh KannourakisBarrenjoey Markets Pty Limited