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Global mining services contractor providing underground and surface contract mining, drilling and mine-development services (owns Barminco, DDH1).
Global mining services contractor providing underground and surface contract mining, drilling and mine-development services (owns Barminco, DDH1).
Is paid mostly under multi-year contracts at rates per tonne mined or metre drilled, so revenue follows mine owners' activity rather than metal prices directly, though gold miners' profits shape their budgets. The group was built through takeovers, merging underground miner Barminco and drilling firm DDH1 into the earlier Ausdrill business, and works across Australia and Africa.
In one line: A global underground mining contractor.
Moat: narrow (customer qualification, process know-how, installed base). Long-term mining contracts and specialist underground expertise create switching costs for mine owners.
Headquarters: Perth, Australia · Founded: 1987 · Employees: 10,000
Size Perenti (PRN.AX) is an Australia Materials company (Precious Metals) with a market value of $1.31B, the 155th largest of 316 Australia companies the cockpit tracks. Shares closed at A$2.02 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against -6.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 4.3% over the last twelve months (peer median +54.1%); the operating margin is 8.9% (peer median 15.6%).
Valuation It trades at 10.3× forward earnings against a peer median of 11.4× (5th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.5 points above its cost of capital (6.2% WACC).
Credit Perenti has 1 bond outstanding ($350M), rated BB+ by the agencies and trading like BB- at a weighted spread of 222 bp.
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$3.34B | A$3.34B | A$3.35B | A$3.34B | A$2.88B |
| Revenue growth | — | 0% | 0% | +16% | — |
| Gross profit | A$664M | A$664M | A$604M | A$596M | A$504M |
| EBITDA | A$615M | A$615M | A$601M | A$622M | A$525M |
| Net income | A$83.1M | A$83.1M | A$121M | A$95.5M | A$95.7M |
| Free cash flow | A$95.3M | A$95.3M | A$200M | A$153M | A$24.2M |
| Capital expenditure | A$349M | A$349M | A$310M | A$335M | A$374M |
| Total debt | n/a | A$571M | A$786M | A$929M | A$806M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Perenti PRN.AX | $1.31B | -8% | -4% | 9% | 10.3× | -9.8% |
| Macmahon MAH.AX | $1.35B | +6% | +8% | 7% | 15.1× | 4.3% |
| Develop Global DVP.AX | $801M | -43% | +68% | 4% | 11.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PRN.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | -5.0% | 8th lowest of 21 |
| 6-month return | -8.2% | -6.4% | 10th lowest of 20 |
| Distance from 52-week high | -35.3% | -36.9% | 10th highest of 21 |
| Revenue growth (TTM) | -4.3% | +54.1% | lowest of 12 |
| Operating margin | 8.9% | 15.6% | 6th lowest of 13 |
| Forward P/E | 10.3× | 11.4× | 5th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -9.8% | 23.4% | 2nd least demanding of 9 |
| Growth delivered (Del g) | +9.8% | +27.8% | lowest of 8 |
| Hurdle (Req g minus delivered) | -19.6 pp | -0.4 pp | 4th least demanding of 8 |
| ROIC minus cost of capital | +3.5 pp | -8.8 pp | 6th highest of 19 |
| EV / EBITDA | 3.6× | 12.1× | cheapest of 9 |
| Net debt / EBITDA | 0.4× | 0.1× | 4th most indebted of 9 |
| Bond spread | 222 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Perenti PRN.AX | Australia | $1.31B | -8% | -4% | 9% | 10.3× | -9.8% | +9.8% |
| AbraSilver Resource ABRA.TO | Canada | $1.30B | -37% | n/a | n/a | n/a | n/a | n/a |
| Minerals 260 MI6.AX | Australia | $1.29B | +1% | n/a | n/a | n/a | n/a | n/a |
| i-80 Gold IAU.TO | Canada | $1.24B | -2% | +38% | -103% | n/a | n/a | n/a |
| EACON 7687.HK | Hong Kong | $1.23B | n/a | +46% | -22% | n/a | n/a | n/a |
| Vizsla Silver VZLA.TO | Canada | $1.18B | -1% | n/a | n/a | n/a | n/a | n/a |
| Bellevue Gold BGL.AX | Australia | $1.46B | -16% | +14% | 5% | 13.3× | 41.2% | +13.9% |
| Orezone Gold ORE.TO | Canada | $1.46B | +31% | +93% | 40% | 6.9× | -8.0% | +110.4% |
| Benz Mining BZ.V | Canada | $1.15B | +120% | n/a | n/a | n/a | n/a | n/a |
| Hemlo Mining HMMC.TO | Canada | $1.09B | -9% | n/a | n/a | 10.8× | n/a | n/a |
| Gogold Resources GGD.TO | Canada | $1.08B | +19% | +64% | 47% | 29.0× | 13.3% | +13.8% |
| RIO2 RIO.TO | Canada | $1.08B | -6% | n/a | 20% | 6.1× | 36.3% | n/a |
| New Pacific Metals NUAG.TO | Canada | $1.05B | 0% | n/a | n/a | n/a | n/a | n/a |
| Alkane Resources ALK.AX | Australia | $1.63B | +11% | +403% | 34% | 11.9× | -1.2% | +48.9% |
| Beijing Xiaocheng Technology Stock 300139.SZ | China | $1.64B | -25% | +39% | 27% | n/a | 33.6% | +27.8% |
| Southern Cross Gold Consolidated SXGC.TO | Canada | $1.65B | -9% | n/a | n/a | n/a | n/a | n/a |
| EQ Resources EQR.AX | Australia | $1.01B | +6% | +150% | 11% | 4.3× | n/a | n/a |
| Tongguan Gold 0340.HK | Hong Kong | $1.73B | -14% | +65% | 52% | 8.2× | -9.9% | +48.9% |
| Hycroft Mining HYMC | United States | $1.75B | -51% | n/a | n/a | n/a | n/a | n/a |
| Yunding Technology 000409.SZ | China | $960M | -18% | +6% | 6% | 69.8× | n/a | n/a |
| McEwen MUX.TO | Canada | $954M | -31% | +54% | -3% | 31.8× | 59.7% | +15.2% |
Perenti has 1 bond outstanding with $350M face value. The agencies rate it BB+; its bonds trade like BB-. Weighted yield 6.76%, a spread of 222 bp over government bonds.