Can Mader Group (ASX: MAD) Keep Growing

• International mechanical services contractor Mader Group listed on the ASX in September of 2019.
• The company has grown both revenue and net profit every year since listing.
• The share price is up more than 400% since its first day of trading.

The Mader Group provides skilled technicians for equipment and plant maintenance to the mining, industrial, and industrial sectors around the world.

The company listed on the ASX on 30 September of 2019, with its share price on an uninterrupted upward run, rising 476.6%.

Source: ASX

In its first full year of operation as a publicly traded company Mader posted a net profit, which along with the company’s revenues have grown every year since listing.

Mader Group Financial Performance

Source: ASX

Half Year 2024 financial results continued the trend, with revenues up 34%, net profit up 38%, dividend payments up 58%, and net debt down 17%.

Mader Group has set an aspirational target of $1 billion dollars in revenue by FY 2026. The company reaffirmed its full year 2024 guidance for revenues of 770 million dollars and net profit of $50 million dollars, significantly increasing its financial performance over FY 2023.

The company has paid dividends every year since listing, with a five-year average dividend yield of 1.35%, paying a dividend of $0.08 per share in FY 2023

An analyst at Baker Young has a HOLD recommendation on Mader Group shares, citing the  mechanical services contractor strong revenue growth in US markets, net profit increase, and net debt reductions.

Marketscreener.com has an analyst consensus recommendation of BUY on MAD shares, with three of the four analysts reporting at BUY and one at HOLD.

The Wall Street Journal has an analyst consensus rating at OVERWEIGHT, with four of the six analysts reporting at BUY, one at OVERWEIGHT, and one at HOLD.

Over the past three months the share price is down 13.8%.

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