Key highlights

  • 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.
  • Net Debt was $5.6 million, gearing was 4.7% and dividends for FY26 were 8 cents, double the prior year.

PWR Holdings Ltd (ASX:PWH) closed 21 October 2026 at $11.43, higher by 2.88%. Across the market, the S&P/ASX 200 Consumer Discretionary [XDJ] index settled at 3,741.90, higher by 0.34% or 12.50 points, the S&P/ASX 200 [XJO] at 8,831.30, higher by 0.16%, and the All Ordinaries at 8,956.60, higher by 0.14%, at 5:00 pm GMT+11. PWR Holdings is an Australian designer and manufacturer of high-performance cooling products for motorsport, aerospace, defence and automotive markets.

What PWR Holdings does

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.

Sector context

Consumer discretionary companies depend on household spending, travel, leisure and housing activity, and they are tracked through the S&P/ASX 200 Consumer Discretionary index, which closed at 3,741.90, up 0.34%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Specialty engineering businesses depend on motorsport programs, defence procurement and automotive demand.

Risks and uncertainties

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 to 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.