PWR Holdings (ASX:PWH) Delivers Record FY26 Revenue as Profit and Manufacturing Expand

Aditi Sarkar

06 November 2026 10:33 PM AEDT

PWR Holdings (ASX:PWH) Delivers Record FY26 Revenue as Profit and Manufacturing Expand

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Highlights

Notably, PWR Holdings reported record FY26 Revenue of $170.7 million, up 31.2%, supported by motorsports and aerospace and defence growth.
In addition, Statutory NPAT rose 83.2% to $17.9 million, while profit Margin increased to 10.5% following the Stapylton factory relocation.
In addition, The expanded Stapylton Facility enabled Australian Manufacturing revenue of approximately $106 million for the first time in FY26.
Notably, PWR outlined plans for a manufacturing site in Poland and entered FY27 with an aerospace and defence order backlog.

PWR Holdings Limited (ASX:PWH) is a global leader in advanced thermal management and cooling technology, designing and manufacturing high-performance cooling systems for motorsport, aerospace and defence, and original equipment manufacturers. The company released its FY26 full-year results on 20 August 2026 for the year ended 30 June 2026.

Record Revenue and Profit Growth

PWR Holdings delivered record FY26 group revenue of $170.7 million, up 31.2% from the prior year. The result was driven by exceptional growth across its two largest strategic markets. Motorsports revenue grew 45.4% to a record $101.9 million, representing approximately 60% of group revenue. Aerospace & Defence (A&D) revenue grew 30.8% to a record $35.2 million, representing approximately 21% of group revenue. Combined OEM and Aftermarket revenue was approximately $30 million. Statutory NPAT was $17.9 million, up 83.2%, with NPAT margin improving from 7.5% in FY25 to 10.5% in FY26, delivering the 3-percentage-point improvement that management had communicated as its FY26 target.

Stapylton Factory and Operational Transformation

A defining milestone in FY26 was the completion of the Stapylton factory relocation and ramp-up. The new facility enabled record Australian manufacturing revenue of approximately $106 million, a level the company stated was not achievable at its former site. The transition, which had created some operational disruption in the second half of FY25, was fully resolved in FY26, with the facility operating at a structurally higher baseline of capacity and capability. Cash conversion was 104.9%. Net Debt reduced to $5.6 million, and a final Dividend of 5.0 cents per share was declared, up 3.0 cents from the prior year.

Aerospace & Defence Growth and European Expansion

Aerospace & Defence was highlighted as the next phase of growth for PWR, with an order Backlog exceeding $40 million at the start of FY27. During FY26, A&D achieved key milestones including a Northrop Grumman supplier award and accreditations for CMMC 2.0, AS9100, and NADCAP quality management systems. PWR announced plans to establish a European manufacturing facility in Poland to target the significant European A&D market, which management described as having opportunities across multiple programs and customers. For FY27, PWR guided that Motorsports would maintain FY26 revenue levels, A&D would continue growing, and NPAT margin would improve by a further 2 percentage points.

Stock Price Information

Shares in PWR Holdings Limited (ASX:PWH) rose sharply following the FY26 results release as the revenue and margin outperformance surprised the market. As of 6 November 2026, PWH shares were trading on the ASX. Investors should refer to ASX announcements at www.asx.com.au and the company's Investor relations page at www.pwr.com.au for the latest pricing and disclosures.

What products does PWR Holdings make?

PWR Holdings designs and manufactures advanced thermal management and cooling systems for high-performance applications. Its products include radiators, intercoolers, oil coolers, and custom heat exchangers for motorsport vehicles (Formula 1, Le Mans, NASCAR), military aircraft, defence systems, and original equipment manufacturer platforms. The company is headquartered in Queensland and manufactures in Australia, with plans to expand into Poland.

What drove PWR Holdings' FY26 Earnings growth?

PWR's FY26 earnings growth was driven by three factors: (1) the completion of the Stapylton factory relocation, which unlocked record Australian manufacturing capacity; (2) exceptionally strong growth in Motorsports, with revenue up 45.4% driven by multiple major racing programs; and (3) continued A&D growth of 30.8% and operating leverage, which lifted NPAT margin from 7.5% to 10.5%.

What is PWR Holdings' A&D order backlog?

PWR Holdings entered FY27 with an Aerospace & Defence order backlog exceeding $82 million, providing strong forward revenue visibility for A&D growth. This backlog, combined with the company's expanding accreditations (Northrop Grumman supplier award, CMMC 2.0, AS9100, NADCAP), supports management's expectation that A&D will be the next major growth driver following the strong Motorsports performance in FY26.

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