Macmahon Holdings Ltd (MAH) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Macmahon Holdings Ltd A$0.58, price A$1.09, upside -46.5%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Macmahon Holdings Ltd
MAH · AUStretched ValuationStrong overvaluation with only moderate quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range A$0.1061 – A$1.13 · fair‑value band A$0.4400 – A$0.7300 · the A$1.09 price screens above the A$0.5800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
Macmahon Holdings Limited provides surface mining, underground mining and mining support, and civil infrastructure services to mining companies in Australia and Southeast Asia. It operates in four segments: Surface Mining, Underground Mining, International Mining, and Civil Infrastructure.
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Macmahon Holdings Limited provides surface mining, underground mining and mining support, and civil infrastructure services to mining companies in Australia and Southeast Asia. It operates in four segments: Surface Mining, Underground Mining, International Mining, and Civil Infrastructure. The company offers surface mining services, such as bulk and selective mining, mine planning and analysis, drill and blast, crushing and screening, fixed plant maintenance, water management, equipment operation and maintenance, technology, safety solutions; and underground mining services, including mine development and production, raise and production drilling, cable bolting, shotcreting, remote shaft lining, paste fill, shaft sinking and fit out; and engineering services, including shaft lining and maintenance, ore pass liners, winder refurbishment, conveying, crushing, materials handling, emergency egress systems, pump stations and rising mains, and site workshops and infrastructure. It provides mining support services comprising topsoil and overburden stripping, bulk earthworks, road design and construction, mine infrastructure and services, and train loading facilities; tailings storage facilities, camps and remote village accommodation, bridgeworks, rail and airport infrastructure, balance of plant works for renewable energy projects, including solar, wind, and battery installations; water infrastructure, such as dams, creek diversions, flood levies, and drainage structures; and revegetation, non-process infrastructure, and rehabilitation monitoring and maintenance. In addition, the company offers advisory operational improvement services, which includes operator coaching and industry skills training, cultural change programs, and mental health program. The company was incorporated in 1963 and is headquartered in Perth, Australia.
Stock analysis
Macmahon Holdings Ltd (MAH) currently trades at A$1.09, while our model-based Fair Value estimate is A$0.5800, implying the stock looks roughly 87.1% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of A$1.17 per share, and 9 of the 24 models we run sit above the A$1.09 price.
Bear case: the Asset-Based group reads lowest at A$0.2200, and 15 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: A$0.4400 (bear) to A$0.7300 (bull), the price of A$1.09 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Macmahon Holdings Ltd reported revenue of A$2.4B in FY2025 versus A$1.4B in FY2021, a compound +15.8%/yr. Reported net income was A$73.9M in FY2025, compounding −1.1%/yr from FY2021.
Key figures
Market cap A$2.3B (≈ $1.6B) · P/E ratio 27.1 · P/S ratio 0.83 · EPS (TTM) A$0.0400 · Dividend yield 1.8% · Net margin 3.0% · Return on equity 13.3% · Return on assets (EBIT) 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 175% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at −47%, MAH screens richer than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 76
Revenue & earnings trend
Growth Forecast
MAH screens 87% overvalued. Compare with Saudi Arabian Mining Company →
Compare Macmahon Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Other Industrial Metals & Mining · 456 stocks
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Valuation of the Australia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Saudi Arabian Mining Company 1211 | 62.70 SAR | 68.97 SAR | +10% |
| CMOC Group 603993 | ¥17.66 | ¥20.07 | +14% |
| China Tungsten And Hightech Materials Co 000657 | ¥60.26 | ¥31.23 | −48% |
| Hindustan Zinc Limited HINDZINC | ₹595.45 | ₹655.00 | +10% |
| Western Mining Co 601168 | ¥36.77 | ¥40.45 | +10% |
| Korea Zinc Company 010130 | 1,116,000 KRW | 646,063 KRW | −42% |
| Xiamen Tungsten Co 600549 | ¥49.34 | ¥24.75 | −50% |
| PLS Group PLS | A$4.18 | A$6.65 | +59% |
| Jinduicheng Molybdenum Co 601958 | ¥20.99 | ¥12.24 | −42% |
| Zhejiang Huayou Cobalt Co 603799 | ¥36.66 | ¥54.86 | +50% |
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Key figures of Macmahon Holdings Ltd
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