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NRW Holdings Limited

NWH.AXIndustrialsASX

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Financials · Annual
Revenue
$3.27B
+12.2% YoY
Net Income
$27.7M
-73.7% YoY
EBITDA
$250.9M
-18.2% YoY
Free Cash Flow
$222.8M

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About NRW Holdings Limited

NRW Holdings Limited, through its subsidiaries, provides diversified contract services to the resources and infrastructure sectors in Australia. The $3.51B market capitalization puts NWH.AX squarely in mid-cap range for its industry. The company operates through three segments: Civil; Mining; and Minerals, Energy & Technologies.

Key stats
Market Cap$3.51B
P/E (TTM)69.36
Fwd P/E18.30
EPS$0.11
Beta1.06
52W Change+176.4%
Dividend Yield2.23%
ROE7.5%
Analysis

The company holds $342.4M in cash, though total debt stands at $542.8M. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Free cash flow comes in at $222.8M, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. Return on equity stands at 7.5%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 2.5% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $2.38B (2022) to $3.27B (2025), reflecting a 37% increase over the period.

The elevated P/E ratio means the stock is priced for significant future growth. If earnings disappoint, the price correction could be sharp. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing NWH.AX.

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