Monadelphous Group Ltd (MND) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Monadelphous Group Ltd A$17.20, price A$31.73, upside -45.8%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 24, 2026.
How to read this chart
60‑month range A$7.38 – A$32.37 · fair‑value band A$10.93 – A$21.86 · the A$31.73 price screens above the A$17.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Monadelphous Group Limited, an engineering group, provides construction, maintenance, and industrial services to resources, energy, and infrastructure sectors in Australia, China, Mongolia, Papua New Guinea, China, Vietnam, the Philippines, and internationally.
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Monadelphous Group Limited, an engineering group, provides construction, maintenance, and industrial services to resources, energy, and infrastructure sectors in Australia, China, Mongolia, Papua New Guinea, China, Vietnam, the Philippines, and internationally. It operates through two segments, Engineering Construction, and Maintenance and Industrial Services. The company offers fabrication, modularization, offsite pre-assembly, procurement, and installation of structural steel, tankage, mechanical and process equipment, piping, demolition, and remediation works; multi-disciplined construction services; plant commissioning; electrical and instrumentation services; engineering, procurement, and construction services; process and non-process maintenance services; and front-end scoping, shutdown planning, management, and execution services. It also provides water and wastewater asset construction and maintenance; transmission pipelines and facilities construction; power and water assets operation and maintenance; heavy lift and specialist transport; access solutions; dewatering services; corrosion management services; specialist coatings; rail maintenance services; and structural concrete and associated works. In addition, the company offers turnkey heavy lift solutions, and civil and electrical services. Monadelphous Group Limited was founded in 1972 and is headquartered in Perth, Australia.
Stock analysis
Monadelphous Group Ltd (MND) currently trades at A$31.73, while our model-based Fair Value estimate is A$17.20, implying the stock looks roughly 84.5% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of A$18.23 per share, and 0 of the 26 models we run sit above the A$31.73 price.
Bear case: the Asset-Based group reads lowest at A$3.32, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: A$10.93 (bear) to A$21.86 (bull), the price of A$31.73 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 Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Monadelphous Group Ltd reported revenue of A$2.2B in FY2025 versus A$1.8B in FY2021, a compound +5.4%/yr. Reported net income was A$83.7M in FY2025, compounding +15.5%/yr from FY2021.
Key figures
Market cap A$3.2B (≈ $2.2B) · P/E ratio 29.9 · P/S ratio 1.16 · EPS (TTM) A$1.06 · Dividend yield 2.8% · Net margin 3.9% · Return on equity 20.5% · Return on assets (EBIT) 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −46%, MND screens richer than that median.
Fair Value models
Bear A$10.93Fair Value A$17.20Bull A$21.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (A$0.1800 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Start year 2020 (pandemic). Over 10 years: +1.5% a year
Revenue growth 36 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.2%
Dividend (yield on the price)2.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11% vs −3%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 5%
2025 sits 53% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 2.1%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+16.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about +17.4% a year for the price and +12.9% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Engineering & Construction · 836 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside−46% · Below median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)4% · Above median
Operating margin (TTM)6% · Above median
Growth and dividend
Revenue growth41% · Top 25%
Dividend yield (TTM)2.8% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)29.9× · Pricier than median
P/B4.47× · Priciest 25%
P/S (TTM)0.86× · Pricier than median
P/FCF33.1× · Priciest 25%
EV/EBITDA12.6× · Pricier than median
PEG0.36× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 28
FUTURE (revenue growth)100· sector 11
PAST (return on equity)82· sector 28
HEALTH (low debt)100· sector 94
DIVIDEND (yield)55· sector 41
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Monadelphous Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MND
Frequently asked questions
Is Monadelphous Group Ltd (MND) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of A$17.20 versus a price of A$31.73, about −46% upside (overvalued).
What is the fair value of MND?
Our model-based fair value for Monadelphous Group Ltd is A$17.20 (as of Sep 24, 2026), built from audited fundamentals. The current price: A$31.73.
What is the quality score of MND?
Monadelphous Group Ltd has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Monadelphous Group Ltd (MND)?
Our model-based price target is the fair value of A$17.20 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario A$10.93, optimistic scenario A$21.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Monadelphous Group Ltd stock forecast for 2026?
Our models put fair value at A$17.20, about −46% upside versus a price of A$31.73 (overvalued). Cautious scenario A$10.93, optimistic scenario A$21.86. The calculation is refreshed regularly with new filings.
What is the revenue of Monadelphous Group Ltd (MND)?
Monadelphous Group Ltd reported trailing-twelve-month revenue of about A$2.6B (latest available figure, as of Sep 24, 2026).
Does Monadelphous Group Ltd pay a dividend?
Monadelphous Group Ltd currently shows a dividend yield of about 2.77% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Monadelphous Group Ltd (MND)?
For today's price to be fair in a discounted-cash-flow model, Monadelphous Group Ltd would have to grow free cash flow by +20.9 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MND use?
Our models discount Monadelphous Group Ltd at 8.6 %: a base by market capitalisation (mid), damped by beta 0.60, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Monadelphous Group Ltd that is +20.9 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Monadelphous Group Ltd (MND) delivered so far?
Over the past 5 years revenue at Monadelphous Group Ltd grew +7.8 % a year. The price currently implies +20.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Monadelphous Group Ltd (MND) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Monadelphous Group Ltd (+20.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Monadelphous Group Ltd (MND)?
The free-cash-flow yield on the price is 2.13 %: that much free cash flow Monadelphous Group Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Monadelphous Group Ltd (MND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Monadelphous Group Ltd it is A$17.20 per share (as of Sep 24, 2026), against a price of A$31.73. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Monadelphous Group Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MND trades above its calculated fair value: price A$31.73, fair value A$17.20, a gap of about −46% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MND?
No. The price is what the market pays today (A$31.73); the fair value is what the company's own numbers justify (A$17.20). For Monadelphous Group Ltd the two are A$14.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Monadelphous Group Ltd worth?
The market values Monadelphous Group Ltd at about A$3.2B (market capitalisation, as of Sep 24, 2026). Per share that is A$31.73; our models calculate a fair value of A$17.20 per share.
What do the bullish and bearish scenarios say about MND?
Our models span a range for Monadelphous Group Ltd: cautious scenario A$10.93, base A$17.20, optimistic A$21.86 per share (as of Sep 24, 2026, price A$31.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MND?
Monadelphous Group Ltd trades at a price-to-earnings ratio of 29.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$17.20 is built from several models across several years. Other multiples: PEG 0.4, P/B 4.5, P/S 0.9, EV/EBITDA 12.6.
What is the PEG ratio of MND?
The PEG ratio of Monadelphous Group Ltd is 0.36 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Monadelphous Group Ltd (MND)?
Balance-sheet figures for Monadelphous Group Ltd (as of Sep 24, 2026): return on equity 20.5%, debt of 0.00 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is MND from its 52-week high?
Monadelphous Group Ltd trades at A$31.73, about 2% below its 52-week high of A$32.37 and 45% above the low of A$21.83 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of A$17.20 is for.
Which stocks are comparable to Monadelphous Group Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Monadelphous Group Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price A$31.73, calculated fair value A$17.20 (−46%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MND calculated?
We run Monadelphous Group Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$17.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Monadelphous Group Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Monadelphous Group Ltd (MND)?
The closing price on Sep 23, 2026 was A$31.73. Our model-based fair value is A$17.20, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Monadelphous Group Ltd right now?
The price sits above even our optimistic bull case (A$21.86). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (A$10.93 to A$21.86) leaves room in how you read the outcome.
Where does the earnings growth of Monadelphous Group Ltd (MND) come from?
Earnings per share at Monadelphous Group Ltd grew −5.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin −5.0 %, tax rate −0.2 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Monadelphous Group Ltd
How large is the market capitalisation of Monadelphous Group Ltd (MND)?
The market capitalisation of Monadelphous Group Ltd is A$3.2B (≈ $2.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Monadelphous Group Ltd (MND)?
The price-to-sales ratio of Monadelphous Group Ltd is 1.16 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Monadelphous Group Ltd (MND)?
Earnings per share at Monadelphous Group Ltd are A$1.06 (price ÷ EPS = P/E 29.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Monadelphous Group Ltd (MND)?
The dividend yield of Monadelphous Group Ltd is 2.8% (payout 83.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Monadelphous Group Ltd (MND)?
The net margin of Monadelphous Group Ltd is 3.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Monadelphous Group Ltd (MND)?
The return on equity (ROE) of Monadelphous Group Ltd is 20.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Monadelphous Group Ltd (MND)?
On an EBIT basis the return on assets of Monadelphous Group Ltd is 8.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Monadelphous Group Ltd (MND)?
The operating margin of Monadelphous Group Ltd is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Monadelphous Group Ltd (MND)?
Revenue at Monadelphous Group Ltd is growing +40.6% versus a year earlier (3y avg +6.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Monadelphous Group Ltd (MND)?
Earnings per share at Monadelphous Group Ltd are growing +50.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Monadelphous Group Ltd (MND) hold?
Monadelphous Group Ltd holds more cash than debt, A$126M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Sep 24, 2026