Stealth Group Holdings Ltd reported record financial results for the 2026 fiscal year, marking its 12th consecutive year of revenue growth. Sales reached AUD 165 million, an 18.8% increase year-on-year, while statutory revenue rose to AUD 146 million. Like-for-like revenue growth stood at 6.7%, adjusted for the accounting treatment of the Hardware & Building Traders (HBT) acquisition.
EBITDA climbed 46% to AUD 14.4 million, lifting the EBITDA margin to 8.7% from 6.8%. Net profit after tax surged 86%, and earnings per share rose 56% to AUD 0.041. The company’s cash balance increased 122% to AUD 32.1 million, while net debt stood at AUD 7.7 million, resulting in a net debt-to-EBITDA ratio of 0.5 times. The gearing ratio improved to 12.6% from 18.3%, and return on equity reached 18% over the past 12 months.
Stealth Group maintained a price-to-earnings ratio of 25.7 and reported a free cash flow of just under AUD 1 million after capital expenditure and intangibles. The company’s market share in Australia’s hardware and industrial sectors remains at 1.4%, positioning it as the third-largest player behind Bunnings and Metcash/Blackwoods.
For the 2027 fiscal year, Stealth Group has secured AUD 100 million in new sales revenue to commence within the next six months, bringing the annual sales run rate to AUD 265 million. An additional AUD 130 million in revenue is under negotiation for the second half of FY27. The company also identified a potential AUD 400 million annual revenue opportunity within its existing ecosystem.
Stealth Group reaffirmed its FY28 sales target of AUD 500 million, up from a prior AUD 300 million target before the HBT acquisition. The company plans to expand its H Hardware network from 51 stores to 200 over three years. Group purchasing volume totaled AUD 770 million, with AUD 650 million derived from the HBT network. The group operates 1,236 locations across hardware, industrial, and safety sectors, with products distributed through more than 4,700 touchpoints.
Chief Executive Officer Mike Caswell stated that the company delivered record financial and strategic results, highlighting an identified AUD 400 million revenue opportunity in its ecosystem. Group Chief Financial Officer Matthew Green noted that EBITDA growth and margin expansion reflected the scaling effects of recent acquisitions.
Stealth Group’s shares last traded at AUD 1.325, up 1.92% from the previous close of AUD 1.30, with a 52-week range of AUD 0.615 to AUD 1.59.
