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Australian and New Zealand distributor of aftermarket parts for trucks, buses and heavy commercial vehicles under the Multispares brand.
Australian and New Zealand distributor of aftermarket parts for trucks, buses and heavy commercial vehicles under the Multispares brand.
Buys parts from suppliers, including parts sold under its own Multispares brand, and resells them through its branches and distribution centres to workshops and fleets, earning the markup between purchase and selling price. Demand comes from keeping existing trucks on the road rather than from new-truck sales.
In one line: A truck-parts aftermarket distributor like a smaller LKQ Corporation.
Moat: narrow (distribution, installed base, scale). National branch/warehouse network and long-standing supplier relationships are costly for new entrants to replicate.
Headquarters: Brisbane, Australia · Founded: 1955
Size Supply Network (SNL.AX) is an Australia Industrials company (Wholesale Distributors) with a market value of $1.06B, the 169th largest of 316 Australia companies the cockpit tracks. Shares closed at A$34.92 on 6 Nov 2026.
Performance Over six months the shares gained 12.3%, against -22.9% for the median peer and +4.1% for the Australia market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 15.6% over the last twelve months (peer median +10.7%); the operating margin is 17.2% (peer median 6.8%).
Valuation It trades at 26.9× forward earnings against a peer median of 19.2× (3rd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.7 points above its cost of capital (8.4% WACC).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$403M | A$403M | A$349M | A$303M | A$252M |
| Revenue growth | — | +16% | +15% | +20% | — |
| Gross profit | A$93.1M | A$93.1M | A$82.1M | A$69.1M | A$57.4M |
| EBITDA | A$81.1M | A$81.1M | A$68.1M | A$58.3M | A$48.3M |
| Net income | A$47.6M | A$47.6M | A$40.0M | A$33.0M | A$27.4M |
| Free cash flow | A$33.2M | A$33.2M | A$28.2M | A$12.2M | A$14.7M |
| Capital expenditure | A$5.12M | A$5.12M | A$3.96M | A$4.33M | A$4.33M |
| Total debt | n/a | A$43.0M | A$49.6M | A$51.4M | A$51.9M |
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 |
|---|---|---|---|---|---|---|
| Supply Network SNL.AX | $1.06B | +12% | +16% | 17% | 26.9× | 11.7% |
| LKQ LKQ | $5.06B | -31% | -3% | 7% | 9.3× | 0.0% |
| Bapcor BAP.AX | $399M | +66% | -3% | 2% | 27.6× | 7.2% |
| Genuine Parts GPC | $16.9B | +19% | +5% | 5% | 15.5× | 7.5% |
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 | SNL.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.4% | -5.1% | 5th highest of 21 |
| 6-month return | +12.3% | -22.9% | 3rd highest of 21 |
| Distance from 52-week high | -11.9% | -41.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +15.6% | +10.7% | 9th highest of 20 |
| Operating margin | 17.2% | 6.8% | 2nd highest of 20 |
| Forward P/E | 26.9× | 19.2× | 3rd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 11.7% | 0.2% | 4th most demanding of 11 |
| Growth delivered (Del g) | +19.9% | +10.5% | 3rd highest of 11 |
| Hurdle (Req g minus delivered) | -8.2 pp | -7.3 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +17.7 pp | +0.2 pp | highest of 20 |
| EV / EBITDA | 19.2× | 8.1× | 2nd most expensive of 8 |
| Net debt / EBITDA | 0.3× | 0.6× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Supply Network SNL.AX | Australia | $1.06B | +12% | +16% | 17% | 26.9× | 11.7% | +19.9% |
| Zhejiang Songyuan Automotive Safety Systems 300893.SZ | China | $1.06B | -34% | +27% | 12% | 20.1× | n/a | n/a |
| BayWa BYW.DE | Germany | $1.07B | -58% | n/a | n/a | n/a | 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% |
| Dongguan Aohai Technology 002993.SZ | China | $1.10B | -44% | +122% | 1% | 19.6× | n/a | n/a |
| Brighton-Best International (Taiwan) 8415.TWO | Taiwan | $1.11B | +5% | +11% | 20% | 7.8× | -8.8% | +8.8% |
| Innovation Medical Management 002173.SZ | China | $1.12B | -29% | -13% | -18% | n/a | n/a | n/a |
| Totech 9960.T | Japan | $1.00B | 0% | +6% | 10% | 10.7× | 5.4% | +9.2% |
| Deep Source 0990.HK | Hong Kong | $1.00B | -31% | +7% | 2% | n/a | -13.6% | +6.1% |
| Daiichikosho 7458.T | Japan | $1.13B | +6% | +4% | 11% | 13.0× | -6.0% | +11.8% |
| Yamazen 8051.T | Japan | $978M | +13% | +7% | 2% | n/a | -6.3% | +4.5% |
| Imdex IMD.AX | Australia | $1.15B | -21% | +21% | 16% | 24.5× | 20.1% | +14.5% |
| Techstorm Advanced Material 601026.SS | China | $1.16B | -33% | +8% | 6% | n/a | n/a | n/a |
| Chengdu Haoneng Technology 603809.SS | China | $1.16B | -23% | +18% | 10% | 20.5× | n/a | n/a |
| Trusco Nakayama 9830.T | Japan | $958M | +6% | +10% | 7% | 9.4× | n/a | n/a |
| Hangzhou Cogeneration 605011.SS | China | $956M | -23% | -1% | 5% | n/a | n/a | n/a |
| State Power Rixin Technology 301162.SZ | China | $944M | -25% | +12% | 17% | 36.8× | 22.6% | +23.8% |
| Dlg Exhibitions & Events 600826.SS | China | $944M | -9% | +2% | 15% | 18.7× | 6.9% | -11.5% |
| Huludao Zinc Industry 000751.SZ | China | $943M | -36% | +17% | 1% | n/a | n/a | n/a |
| Auto Partner APR.WA | Poland | $928M | +26% | +67% | 8% | 12.2× | -5.0% | +21.5% |