Key Highlights

  • FDC Consolidated Holdings (ASX:FDC) shares traded at $3.87 on 11 September 2026, down 0.77% ($0.030) for the day, and up 14.84% over the past year.
  • FDC is a construction and fitout contractor delivering commercial, industrial, data centre, education and accommodation projects nationally.
  • FY26 Revenue reached $1.69 billion, up 13%, with Normalised NPAT of $70.8 million, up 14% and above pro forma prospectus forecasts.
  • The company closed FY26 with net cash of $362.5 million and $2.5 billion of Work in Hand supporting 89% of FY27 forecast revenue.

FDC Consolidated Holdings Limited (ASX:FDC) shares traded at $3.87 on 11 September 2026, down 0.77%, or $0.030, for the day. Over the past 12 months, the stock is up 14.84%. FDC is a construction contractor operating across Construction and Fitout and Refurbishment segments, delivering projects for clients in sectors including commercial, industrial, data centres, education and accommodation.

Latest Developments: FY26 Results

Normalised Profit Beats Prospectus Forecast

FDC reported FY26 revenue of $1.69 billion, up 13% on FY25 and moderately above its pro forma prospectus forecast, in the company's first year as a listed entity. Statutory NPAT was a loss of $58.2 million, reflecting one-off listing costs including legacy ESS share-based payments and reorganisation expenses. Excluding these items, Normalised EBIT was $91.7 million, up 19%, and Normalised NPAT was $70.8 million, up 14%, both above pro forma prospectus forecasts.

Segment Performance and Balance Sheet Strength

Construction segment revenue grew 14.4% to $1,018 million with gross margins of 10.6%, while Fitout and Refurbishment revenue increased 11.5% to $672 million. Data centre work rose to 13% of revenue from 6% the prior year. The company closed the year with a net cash position of $362.5 million and no borrowings, supported by operating cash conversion above 100%, and reaffirmed FY27 guidance backed by $2.5 billion of Work in Hand.

Catalysts on Investors' Watch

  • $2.5 billion of Work in Hand at 30 June 2026, supporting 89% of FY27 forecast revenue.
  • Reaffirmed FY27 guidance of $1.9 billion in revenue and $100 million in Normalised EBIT.
  • Growing data centre sector exposure, up to 13% of revenue from 6% the prior year.
  • A net cash balance sheet with no borrowings, supporting continued project delivery capacity.

Risks to Watch

  • Statutory net loss of $58.2 million was recorded in FY26 due to one-off listing-related costs.
  • Fitout and Refurbishment margins moderated to 8.9% from 10.0% in the prospectus as non-NSW states contributed more revenue.
  • The construction sector is subject to project selection, execution and risk management pressures common to the industry.
  • Performance against FY27 guidance depends on continued conversion of Work in Hand into delivered revenue.

Conclusion

FDC's share price on 11 September 2026 remains higher than a year ago, even with a modest daily decline, reflecting a first year as a listed company in which normalised Earnings ran ahead of prospectus forecasts. The daily price move and the FY26 results are separate events, with the annual gain reflecting the stock's performance over the full 12-month period.