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Provides electrical, instrumentation and communications contracting services for mining, energy and infrastructure projects.
Provides electrical, instrumentation and communications contracting services for mining, energy and infrastructure projects.
Is paid for electrical, instrumentation and communications work by contract, either as a fixed price or on rates for labour and materials, so margins depend on estimating well and on a few big projects running to time. Order flow follows capital spending by miners and energy companies.
In one line: A niche Australian electrical/instrumentation contractor.
Moat: none (customer qualification). Established client relationships in resources-sector electrical contracting, a competitive services market.
Headquarters: Perth, Australia · Founded: 1978 · Employees: 1,700
Size Southern Cross Electrical Engineering (SXE.AX) is an Australia Industrials company (Engineering & Construction) with a market value of $755M, the 218th largest of 316 Australia companies the cockpit tracks. Shares closed at A$3.53 on 6 Nov 2026.
Performance Over six months the shares fell 14.1%, against -16.8% for the median peer and +4.1% for the Australia market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue fell 10.3% over the last twelve months (peer median +10.2%); the operating margin is 9.4% (peer median 9.1%).
Valuation It trades at 16.9× forward earnings against a peer median of 14.3× (5th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 40.0 points above its cost of capital (7.3% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$719M | A$719M | A$801M | A$552M | A$465M |
| Revenue growth | — | -10% | +45% | +19% | — |
| Gross profit | A$88.7M | A$88.7M | A$67.4M | A$51.4M | A$44.6M |
| EBITDA | A$79.9M | A$79.9M | A$56.9M | A$42.9M | A$39.9M |
| Net income | A$7.07M | A$7.07M | A$31.7M | A$21.9M | A$20.1M |
| Free cash flow | A$59.7M | A$59.7M | A$59.8M | A$33.9M | A$44.9M |
| Capital expenditure | A$7.02M | A$10.4M | A$4.98M | A$3.62M | A$3.28M |
| Total debt | n/a | A$21.7M | A$8.21M | A$8.10M | A$10.4M |
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 |
|---|---|---|---|---|---|---|
| Southern Cross Electrical Engineering SXE.AX | $755M | -14% | -10% | 9% | 16.9× | -4.8% |
| Monadelphous MND.AX | $1.98B | -4% | +29% | 5% | 22.7× | 5.3% |
| NRW NWH.AX | $1.95B | -17% | +31% | 6% | 13.6× | 8.5% |
| GenusPlus GNP.AX | $1.18B | -12% | +71% | 6% | 18.1× | 6.2% |
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 | SXE.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.7% | -5.7% | 2nd lowest of 21 |
| 6-month return | -14.1% | -16.8% | 9th highest of 20 |
| Distance from 52-week high | -34.8% | -32.0% | 8th lowest of 21 |
| Revenue growth (TTM) | -10.3% | +10.2% | 3rd lowest of 21 |
| Operating margin | 9.4% | 9.1% | 11th highest of 21 |
| Forward P/E | 16.9× | 14.3× | 5th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | -4.8% | 4.2% | 4th least demanding of 13 |
| Growth delivered (Del g) | +14.2% | +5.8% | 3rd highest of 13 |
| Hurdle (Req g minus delivered) | -19.0 pp | -4.0 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | +40.0 pp | -2.1 pp | highest of 20 |
| EV / EBITDA | 10.6× | 9.1× | 4th most expensive of 11 |
| Net debt / EBITDA | -3.0× | 0.9× | 2nd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Southern Cross Electrical Engineering SXE.AX | Australia | $755M | -14% | -10% | 9% | 16.9× | -4.8% | +14.2% |
| Hibiya Engineering,Ltd 1982.T | Japan | $753M | -8% | +2% | 12% | 11.4× | -3.4% | +5.2% |
| Hj Shipbuilding & Construction 097230.KS | South Korea | $752M | -61% | +27% | 6% | 5.7× | n/a | n/a |
| Shinnihon 1879.T | Japan | $759M | +6% | +7% | 14% | n/a | -21.3% | +6.3% |
| Suzhou West Deane New Power Electric 603312.SS | China | $750M | -18% | -8% | 9% | 20.2× | 7.1% | +62.0% |
| Power Mech Projects POWERMECH.NS | India | $761M | -12% | +16% | 10% | 16.1× | n/a | n/a |
| GMR Power and Urban Infra GMRP&UI.NS | India | $763M | -17% | +4% | 14% | 14.6× | n/a | n/a |
| FDC Consolidated FDC.AX | Australia | $763M | n/a | +13% | -1% | 13.9× | -6.2% | +12.9% |
| ISGEC Heavy Engineering ISGEC.NS | India | $746M | -11% | +21% | 6% | n/a | 22.1% | +5.0% |
| Bowman Consulting BWMN | United States | $745M | -19% | +14% | 5% | 18.8× | 30.3% | +32.1% |
| Shanghai Pudong Construction 600284.SS | China | $739M | -28% | -17% | 1% | n/a | n/a | n/a |
| G R Infraprojects GRINFRA.NS | India | $803M | -21% | +25% | 16% | 8.9× | n/a | n/a |
| Shenzhen Investment Holdings Bay Area Development 0737.HK | Hong Kong | $803M | -4% | +11% | 30% | 8.9× | 14.6% | -2.4% |
| Shin Nippon Air Technologies 1952.T | Japan | $803M | -25% | +11% | 9% | 8.7× | 1.3% | +7.6% |
| Ceigall India CEIGALL.NS | India | $708M | +5% | +20% | 13% | 18.5× | n/a | n/a |
| Shanghai CDXJ Digital Technology 603887.SS | China | $705M | -49% | +79% | 3% | n/a | n/a | n/a |
| Anhui Orivie Technology 300692.SZ | China | $702M | -7% | -6% | 21% | n/a | 10.9% | +0.1% |
| United Testing Inspection And Certification Technology 301115.SZ | China | $702M | +22% | +5% | -1% | 135.5× | n/a | n/a |
| Shanghai Research Institute of Building Sciences 603153.SS | China | $820M | -22% | +10% | 8% | n/a | -6.2% | +12.6% |
| Zhejiang Yasha Decoration 002375.SZ | China | $695M | -16% | -25% | 6% | n/a | -0.2% | -3.3% |
| Chongqing Road & Bridge 600106.SS | China | $821M | -31% | -10% | 65% | n/a | 32.7% | -11.6% |