Monadelphous Group Ltd

MND: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$56.62	Yymd	Jphybhjd

Monadelphous: Contract Awards and Guidance Support Outlook for Revenue Growth

Mark Taylor

Dec 4, 2023

Our AUD 14.25 fair value estimate for no-moat Monadelphous stands. The Australian engineering construction and maintenance and industrial services provider has so far announced just over AUD 850 million in new and extended contracts for fiscal 2024. This is considerably ahead of the five-year average of AUD 470 million for the first five fiscal months, lending support to our sanguine revenue growth projections.

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