Year in Review: PWR Holdings Ltd (ASX:PWH) Shares Rise Approximately 37%

Sonal Goyal

22 October 2026 10:29 PM AEDT

Year in Review: PWR Holdings Ltd (ASX:PWH) Shares Rise Approximately 37%

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key highlights

PWR Holdings Ltd (ASX:PWH) shares were priced at $11.62 as at 22 October 2026, up 1.66% on the day and up approximately 36.71% over the past year.
PWR Holdings reported FY26 revenue of $170.7 million, up 31%, EBITDA of $40.7 million, up 60%, and NPAT of $17.9 million, up 83%, in its 20 October 2026 AGM materials.
Motorsports revenue rose 45% to $101.9 million, and Aerospace and Defence revenue rose 31% to $35.2 million.

As at 22 October 2026, PWR Holdings Ltd (ASX:PWH) shares were priced at $11.62, up 1.66% on the day, and the share performance data shows the stock up approximately 36.71% over the past year. PWR Holdings is an Australian designer and manufacturer of high-performance cooling products for motorsport, aerospace, defence and automotive markets. PWR Holdings reported FY26 revenue of $170.7 million, up 31%, EBITDA of $40.7 million, up 60%, and NPAT of $17.9 million, up 83%, in its 20 October 2026 AGM materials.

About PWR Holdings Ltd: business overview

PWR Holdings Limited designs and manufactures advanced cooling products, including radiators, intercoolers and heat exchangers, for motorsport teams, aerospace and defence customers, original equipment manufacturers and the automotive aftermarket, from its Gold Coast facility.

FY26 results in the AGM addresses

In AGM documents dated 20 October 2026, PWR reported FY26 revenue of $170.7 million, up 31% (34% in constant currency), EBITDA of $40.7 million, up 60%, and NPAT of $17.9 million, up 83%, with the NPAT margin improved. Free cash flow was $10.6 million, gross debt peaked at about $28 million in the second quarter and net debt ended the year at $5.6 million, with gearing of 4.7%. Dividends for FY26 totalled 8 cents per share, fully franked, double the prior year.

Segments and investment

Motorsports revenue rose 45% to a record $101.9 million. Aerospace and Defence revenue rose 31% to a record $35.2 million, with a follow-on US Government order since increased to US$11.9 million, an order book of about $40 million entering FY27 and a book-to-bill ratio of 144%. OEM revenue was $14.6 million, and Automotive Aftermarket revenue was $15.8 million. The company completed the Stapylton transition, invested $14.9 million in R&D, up 17%, and is building a Poland facility with $16.1 million of capital expenditure over four years.

Related sector context

Automotive and parts businesses are influenced by vehicle sales and ownership, replacement part demand, supply chains, currency and tariffs, and new vehicle technology. Companies in the segment report sales, margins, order books and acquisition activity, and results can differ between original equipment, aftermarket and retail operations.

Risks to weigh in

OEM revenue was lower after the completion of major programs, defence orders depend on government procurement, and the Poland facility is a phased investment with capital costs. Currency, customer concentration and program timing can affect outcomes.

Catalysts on watch

Items to watch include the hypercar program shipments expected in H2 FY27, A&D order conversion and Poland investment progress.

Wrapping up

PWR’s 20 October 2026 AGM materials recorded higher revenue, earnings and dividends with a lower leverage position. Later results will show order conversion.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.