Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
PWR Holdings Delivers Strong FY26 Growth as Aerospace and Defence Demand Accelerates
Highlights:
PWR Holdings Reports Strong FY26 Results
PWR Holdings Limited (ASX: PWH) released its FY26 financial results and annual report on 20 August 2026, detailing performance for the financial year ended 30 June 2026. The advanced cooling technology company recorded substantial improvements across revenue, profitability and operating cash flow as production capacity expanded following the completion of its new Australian headquarters at Stapylton, Queensland.
Revenue increased 31.2% to AU$170.7 million, compared with AU$130.1 million in FY25. EBITDA rose 60% to AU$40.7 million, lifting the EBITDA margin to 23.8% from 19.6%. Net profit after tax increased 83.2% to AU$17.9 million, while basic earnings per share reached 17.79 cents.
Motorsports and Aerospace Drive Revenue Growth
Motorsports remained PWR’s largest customer market, generating AU$101.9 million in FY26 revenue, up 45% from the previous year. Aerospace and Defence revenue increased 31% to AU$35.2 million, reflecting expanding customer demand and greater manufacturing capability.
The Company also secured a US$11.9 million follow-on order linked to a US Government project for advanced cooling systems. PWR expanded its North American manufacturing footprint and established a dedicated Australian manufacturing operation for the Maintenance, Repair and Overhaul market.
New Facility Supports Capacity Expansion
The Stapylton headquarters became fully operational during FY26, providing additional manufacturing capacity and supporting higher production volumes. Revenue generated from the Australian facility exceeded AU$100 million for the first time. PWR also expanded its vacuum brazing and additive manufacturing capabilities to support more complex products and emerging markets.
Research and development spending increased to AU$14.9 million from AU$12.7 million, supporting work across advanced cooling technologies, simulation and aerospace applications.
Outlook
PWR enters FY27 with increased production capacity and continued opportunities across aerospace, defence, motorsport and energy storage. Management expects the additional capacity at Stapylton to support future growth, while further automation is planned. Major OEM programmes commencing in FY27 could also improve the OEM segment.
PWR Holdings approved a 5.0-cent fully franked final dividend per share, bringing the company’s total FY26 distribution to 8.0 cents per share.
Note- All data presented is based on information available at the time of writing.
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