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Austal Ltd ASX:ASB

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 5 managers in total.

Position history by manager Showing 3 of 5 managersSelect a point to see the comment

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20252026

30 Sep 2024 to today

Commentary Showing 2 of 10

DateManagerActionSummary

13 Jul 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold Austal because they believe there is a significant disconnect between the current share price, down almost 33% over the past year and trading at book value, and the underlying value of the business. The manager highlights Austal's position as a prime contractor for the US Navy with the only warm water port in the United States and the most efficient modern shipbuilding yard in the country, accounting for one in ten surface vessels currently built for the US Navy. Investors Mutual notes past takeover interest from Hanwha at levels below the current share price, and points to Austal's strategic role in the AUKUS submarine program, both in Western Australia and in Mobile, Alabama, as supporting the case for a re-rating.

Interview, price recorded $3.54

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31 Mar 2025Wilson Asset ManagementHeldWilson Asset Management continues to hold Austal Ltd following the company's $200 million institutional placement and $20 million share purchase plan at $3.80 per share to fund infrastructure expansion at its strategically important Mobile, Alabama shipyard. Wilson Asset Management notes that Austal reconfirmed its FY2025 EBIT guidance of at least $80 million and that South Korean conglomerate Hanwha Group subsequently acquired a substantial interest at $4.45 per share, signalling intent to become a long-term partner with potential board representation.

Monthly Report, price recorded $4.19

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8 more comments on ASBPro shows every comment, with a link to each source document.

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First mention by manager

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Price at first mentionThe share price recorded when each of 5 managers first commented on ASB.

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Articles

13 Jul 2026Austal ASX ASB Fund Managers On A US Navy Shipbuilder Trading At Book Value

About Austal Ltd

Industrials, Aerospace and Defense

Austal (ASX:ASB), the Australian shipbuilder with a major US Navy business, is viewed by Investors Mutual as a deep value opportunity. In July 2026, Investors Mutual noted Austal's shares had fallen almost a third over the past year and were trading at book value, despite the company being one of the prime contractors for the US Navy, with the only warm-water shipyard in the United States and among the most efficient modern shipbuilding facilities. Austal operates in the Industrials sector within the Aerospace and Defense industry, and Thesis Tracker has captured 10 comments from 5 fund managers, including Investors Mutual Limited. Headquartered in Henderson, Western Australia, Austal designs and builds aluminium and steel commercial and defence vessels, including littoral combat ships, expeditionary fast transports and patrol boats for the US Navy, the Royal Australian Navy and international customers, and is expanding its submarine module construction work in Mobile, Alabama.

Market cap: $1.6b
Price to earnings: 19.3x
Return on equity: 7.9%
Dividend yield: 0.0%
Price to book: 1.30x
Net margin: 4.5%
52-week range: $3.33 to $8.82

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Austal Ltd (ASX:ASB)?

Fund managers including Endeavor Asset Management, Longwave Capital, Prime Value Asset Management, Wilson Asset Management and Investors Mutual Limited have invested in Austal Ltd (ASX:ASB).

What opportunities or catalysts do fund managers highlight for Austal Ltd?

Investors Mutual highlights Austal's position as a prime US Navy contractor operating a modern, efficient shipyard in Mobile, Alabama, and a share price around book value after a one-third fall, which it sees as an attractive entry point given rising defence spending.

What are the key risks to the Austal Ltd investment thesis, according to fund managers?

The available commentary focuses on valuation and does not detail specific risks, though the share price decline reflects challenges such as contract execution on large naval programs and dependence on US defence budgets.

What does Austal Ltd (ASX:ASB) do?

Austal Ltd. designs and constructs custom aluminum commercial and defense vessels. Headquartered in Henderson, Australia, and founded in 1988, the company operates through four segments: USA Shipbuilding and USA Support, providing vessels and maintenance for the US Navy and Coast Guard; and Australasia Shipbuilding and Australasia Support, covering operations across Australia, the Philippines, Vietnam, Oman, and Trinidad and Tobago. Austal delivers specialized shipbuilding and sustainment services globally, supporting both Austal and non-Austal fleets through its established international infrastructure.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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