Highlights

  • Consensus rating of Buy from 7 analysts: 6 Buy or equivalent, 1 Hold, 0 Sell or equivalent.
  • Mean price target of A$5.28 against a share price of A$3.85 on 8 October 2026, an implied upside of 37.2%.
  • Analyst targets range from A$4.35 to A$6.10.
  • Record Revenue was $2,402.7 million, up 8.8%, with growth across all geographies.

Kelsian Group (ASX:KLS) carries a consensus analyst rating of Buy. Of the 7 analyst recommendations recorded, 6 are Buy or equivalent, 1 is Hold and 0 are Sell or equivalent. The mean price target is A$5.28, with targets ranging from A$4.35 to A$6.10, against a current share price of A$3.85 (8 October 2026). Kelsian Group Limited is a public transport operator with Australian and international bus businesses and a Marine and Tourism division that includes ferry services.

Company name

Kelsian Group

Ticker

(ASX:KLS)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$3.85

Price date

8 October 2026

Number of analysts

7

Rating consensus

Buy

Consensus price target (mean)

A$5.28

Highest target

A$6.10

Lowest target

A$4.35

Implied upside/downside to mean target

Implied upside of 37.2%

Latest developments

Kelsian Group (ASX:KLS) published its 2025-26 Annual Report, with key results stated as at 26 August 2026. Record revenue was $2,402.7 million, up 8.8%, with growth across all geographies. Underlying EBITDA rose 10.8% to a record $315.8 million, underlying EBIT rose 14.5% to $155.7 million, and underlying NPATA rose 17.2% to $111.1 million. Underlying Profit after tax attributable to owners was $78.0 million, up 27%, and statutory profit after tax attributable to owners was $63.5 million, compared with $54.5 million.

Net Operating Cash Flow was $220.1 million, up 7.3%, and cash conversion was 91.4%. The company said more than 90% of FY26 revenue was contracted or non-discretionary in nature. Significant items totalled $17.8 million, comprising Acquisition and Transaction Costs of $7.7 million and group system costs of $10.1 million. Net tangible assets were 42.56 cents per share, compared with 33.22 cents.

The final Dividend is 10.0 cents per share, fully franked, with a Record Date of 15 September 2026 and a payment date of 21 October 2026, following an Interim Dividend of 8.0 cents paid on 20 April 2026. The report refers to the sale of the Tourism Portfolio to Journey Beyond for an Enterprise value of $161.0 million, and to terms agreed after year end that changed the original sale.

For FY27, Kelsian anticipates Underlying EBITDA of between $320 million and $335 million, assuming no significant deterioration in the operating environment and no material change to the current structure of the business. The guidance includes the Tourism Portfolio for the full year, and the company intends to update guidance when the impact and timing of the Tourism Portfolio transaction can be assessed.

Risks and what to watch

FY27 guidance includes the Tourism Portfolio for a full year, so it will change once the sale of that portfolio takes effect. Statutory profit of $63.5 million is lower than underlying profit of $78.0 million because of significant items. Public transport Earnings depend on contract renewals, operating costs and government funding. Underlying EBITDA, EBITA and NPATA are non-IFRS measures.

Next milestones

Items to watch include the timing and effect of the Tourism Portfolio sale on FY27 guidance, payment of the 10.0 cent final dividend on 21 October 2026, contract wins and renewals, and the half-year result.