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Australian importer and distributor of industrial and speciality chemicals, ingredients and raw materials to manufacturers.
Australian importer and distributor of industrial and speciality chemicals, ingredients and raw materials to manufacturers.
Buys chemicals and ingredients in bulk from producers around the world and resells them in smaller lots, earning the gap between what it pays and what it charges, with inventory and shipping management part of the service. Currency swings and freight costs affect results.
In one line: A chemical distributor like a smaller Univar Solutions.
Moat: narrow (distribution, scale). Established supplier relationships and distribution/logistics infrastructure give scale over smaller importers.
Headquarters: Sydney, Australia · Founded: 1965 · Employees: 488
Size Redox (RDX.AX) is an Australia Industrials company (Wholesale Distributors) with a market value of $1.22B, the 161st largest of 316 Australia companies the cockpit tracks. Shares closed at A$3.35 on 6 Nov 2026.
Performance Over six months the shares gained 1.8%, against -21.2% for the median peer and +4.1% for the Australia market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 7.0% over the last twelve months (peer median +15.6%); the operating margin is 11.5% (peer median 8.1%).
Valuation It trades at 17.5× forward earnings against a peer median of 19.9× (6th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.6 points above its cost of capital (6.5% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$1.33B | A$1.33B | A$1.24B | A$1.14B | A$1.26B |
| Revenue growth | — | +7% | +9% | -10% | — |
| Gross profit | A$298M | A$298M | A$269M | A$266M | A$262M |
| EBITDA | A$165M | A$165M | A$123M | A$134M | A$141M |
| Net income | A$91.9M | A$91.9M | A$77.1M | A$90.2M | A$80.7M |
| Free cash flow | A$84.4M | A$84.4M | A$42.7M | A$112M | A$132M |
| Capital expenditure | A$3.39M | A$3.39M | A$5.12M | A$3.83M | A$3.11M |
| Total debt | n/a | A$45.5M | A$50.0M | A$47.0M | A$218M |
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 |
|---|---|---|---|---|---|---|
| Redox RDX.AX | $1.22B | +2% | +7% | 11% | 17.5× | -7.8% |
| Nufarm NUF.AX | $897M | +40% | -2% | 3% | 62.4× | 9.9% |
| Brenntag BNR.DE | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% |
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 | RDX.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.8% | -5.4% | 9th highest of 21 |
| 6-month return | +1.8% | -21.2% | 8th highest of 20 |
| Distance from 52-week high | -19.5% | -40.0% | 6th highest of 21 |
| Revenue growth (TTM) | +7.0% | +15.6% | 7th lowest of 20 |
| Operating margin | 11.5% | 8.1% | 7th highest of 20 |
| Forward P/E | 17.5× | 19.9× | 6th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -7.8% | 2.8% | 6th least demanding of 13 |
| Growth delivered (Del g) | +10.8% | +10.3% | 7th highest of 13 |
| Hurdle (Req g minus delivered) | -18.7 pp | -8.7 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +15.6 pp | -0.2 pp | 2nd highest of 20 |
| EV / EBITDA | 10.2× | 7.4× | 5th most expensive of 11 |
| Net debt / EBITDA | -0.5× | 0.3× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Redox RDX.AX | Australia | $1.22B | +2% | +7% | 11% | 17.5× | -7.8% | +10.8% |
| Gansu Guofang Industry & Trade (Group) 601086.SS | China | $1.27B | +42% | +17% | 7% | n/a | 33.6% | -4.8% |
| Chengdu Haoneng Technology 603809.SS | China | $1.16B | -23% | +18% | 10% | 20.5× | n/a | n/a |
| Techstorm Advanced Material 601026.SS | China | $1.16B | -33% | +8% | 6% | n/a | n/a | n/a |
| Imdex IMD.AX | Australia | $1.15B | -21% | +21% | 16% | 24.5× | 20.1% | +14.5% |
| Daiichikosho 7458.T | Japan | $1.13B | +6% | +4% | 11% | 13.0× | -6.0% | +11.8% |
| Inabata & 8098.T | Japan | $1.31B | +6% | +5% | 3% | n/a | -7.8% | +7.6% |
| Taikisha 1979.T | Japan | $1.32B | -5% | -1% | 8% | 10.6× | -13.3% | +7.2% |
| Innovation Medical Management 002173.SZ | China | $1.12B | -29% | -13% | -18% | n/a | n/a | n/a |
| Brighton-Best International (Taiwan) 8415.TWO | Taiwan | $1.11B | +5% | +11% | 20% | 7.8× | -8.8% | +8.8% |
| Shanghai Luoman Technologies 605289.SS | China | $1.35B | -45% | +170% | 13% | 49.9× | 36.2% | +25.7% |
| Dongguan Aohai Technology 002993.SZ | China | $1.10B | -44% | +122% | 1% | 19.6× | n/a | n/a |
| Hour Glass AGS.SI | Singapore | $1.38B | +10% | +18% | 15% | 10.4× | -8.7% | +12.5% |
| ADI Global Distribution ADIG | United States | $1.39B | n/a | +14% | 4% | 11.9× | n/a | n/a |
| BayWa BYW.DE | Germany | $1.07B | -58% | n/a | n/a | n/a | n/a | n/a |
| Supply Network SNL.AX | Australia | $1.06B | +12% | +16% | 17% | 26.9× | 11.7% | +19.9% |
| Minmetals Development 600058.SS | China | $1.40B | -22% | -16% | 1% | n/a | 20.4% | -4.7% |
| Zhejiang Songyuan Automotive Safety Systems 300893.SZ | China | $1.06B | -34% | +27% | 12% | 20.1× | n/a | n/a |
| Beijing Geekplus Technology 2590.HK | Hong Kong | $1.05B | -67% | +33% | 0% | 478.1× | n/a | n/a |
| China Agricultural Development Seed 600313.SS | China | $1.04B | -16% | +35% | 1% | n/a | 21.8% | +12.7% |
| Mitani 8066.T | Japan | $1.45B | +4% | +1% | 10% | n/a | -12.2% | -3.1% |