Dyno Nobel Limited (ICPVF) Fair Value & Analysis

Basic Materials · US · Market cap $3.9B

A solid business, but screening 67% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($1.11). The favourable scenario is already priced in.
• Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year. As of Jul 18, 2026.

How to read this chart

60‑month range $0.6169 – $2.70 · fair‑value band $0.6706 – $1.11 · the $2.70 price screens above the $0.8896 fair value. As of Jul 18, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Dyno Nobel Limited (ICPVF) currently trades at $2.70, while our model-based Fair Value estimate is $0.8896, implying the stock looks roughly 67.1% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Dyno Nobel Limited generated revenue of $3.9B at a net margin of -1.0%. Revenue grew 9.2% year over year. It earns a return on equity of 5.8%. Net debt stands at $1.9B. Fundamentals as of Jul 18, 2026

Our scenario range runs from $0.6706 (bear case) to $1.11 (bull case); at $2.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -67%, ICPVF screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Asset-Based ($1.69) versus Earnings-Based ($0.5200). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Dyno Nobel Limited, together with its subsidiaries, manufactures and distributes industrial explosives, chemicals, and fertilizers in the United States and Australia. It offers packaged explosives, including Powermite, a cartridge explosive; and Dynosplit for pre-split applications, as well as ammonium nitrates.

Full company description

Dyno Nobel Limited, together with its subsidiaries, manufactures and distributes industrial explosives, chemicals, and fertilizers in the United States and Australia. It offers packaged explosives, including Powermite, a cartridge explosive; and Dynosplit for pre-split applications, as well as ammonium nitrates. The company also provides initiation systems, such as BlastWeb II, an underground blasting system; CE4 Commander Blasting System and DigiShot Plus.4G, an electronic blasting systems; and electronic detonators, such as DigiShot, DigiShot Plus, DigiShot Plus.4G, and GeoShot for a range of applications, such as surface and underground mining, quarrying, and construction, as well as bulk technologies under TITAN series and software products, such as ViewShot 3D, DIFFERENTIAL ENERGY2, and Nobel Fire. It exports its products. It also provides Dyno Consult and Drill and Blast Academies services; DYNOBULK FLEX, and Portable Modular Emulsion plants. The company was formerly known as Incitec Pivot Limited and changed its name to Dyno Nobel Limited in March 2025. Dyno Nobel Limited was founded in 1831 and is headquartered in Fortitude Valley, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dyno Nobel Limited reported revenue of $2.5B in FY2025 versus $4.3B in FY2021, a compound −13.3%/yr. Reported net income was $96.2M in FY2025, compounding −10.4%/yr from FY2021.

ICPVF screens 67% overvalued. Compare with Linde plc →

Peer Group

Specialty Chemicals · 676 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Explore undervalued stocks

More undervalued Basic Materials stocks →

Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.