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Emeco Holdings Ltd ASX:EHL

Mining Services Free Cash Flow Capital Management Asset Management

1 opened or increased6 held1 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 12 managers in total.

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Opened or increasedHeldReduced or exited Start or end of the position not reported

9 more managers have commented on EHLPro shows the full position history for all 12 managers.

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20252026

30 Jun 2024 to today

Commentary Showing 2 of 32

DateManagerActionSummary

30 Sep 2026Blue Boat CapitalHeldBlue Boat Capital continues to hold Emeco Holdings Ltd (ASX: EHL) because it sees the smaller end of the Australian market, weighed by rising rates, falling consumer confidence and investor apathy, as fertile ground for patient capital. Emeco reported strongly in August and continues to buy back shares on-market. Blue Boat acknowledges the heavy equipment rental business has historically been highly cyclical with inconsistent capital allocation, but believes management is now approaching capital allocation very differently from past cycles. It also believes supply and demand remain favourable, as new heavy equipment is neither abundant nor cheap while mining and infrastructure activity stays robust, giving well-managed operators potential to keep improving returns on capital.

Mining Services Share BuybackQuarterly Report, price recorded $1.21

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30 Jun 2026Asymmetric Asset ManagementHeldAsymmetric Asset Management continues to hold Emeco Holdings because, despite shares falling 8.5% after the company guided to earnings slightly below the prior year, the manager notes Emeco is generating significant cash, strengthening its balance sheet and improving returns on capital, which it views as multiple positives. Asymmetric acknowledges the market was rightly disappointed by the earnings miss, which the company attributed to wet weather, supply chain challenges and fuel price uncertainty.

Monthly Report, price recorded $0.98

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Price at first mentionThe share price recorded when each of 12 managers first commented on EHL.

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Articles

About Emeco Holdings Ltd

Materials, Trading Companies and Distributors

Emeco Holdings (ASX:EHL), a mining equipment rental company, is valued by fund managers for its cash generation and balance sheet repair. In June 2026, Asymmetric Asset Management noted Emeco fell 8.5% after guiding to earnings slightly below the prior year, while highlighting strong cash generation that is strengthening its balance sheet. First Samuel said Emeco's update focused on cash flow, balance sheet strength and the path to higher fleet utilisation, describing it as softer on earnings but not a simple downgrade. Elston added Emeco as a new holding, and Blue Boat Capital, noted earlier, bought it below fleet value. Emeco operates in the Industrials sector within the Trading Companies and Distributors industry, and Thesis Tracker has captured 31 comments from 12 fund managers, including Asymmetric, First Samuel, Firetrail, Elston and Ryder. Founded in 1972 and headquartered in Osborne Park, Perth, Emeco rents heavy earthmoving equipment and provides maintenance and rebuild services to mining companies across Australia.

Market cap: $671m
Price to earnings: 8.4x
Return on equity: 10.2%
Dividend yield: 0.0%
Price to book: 0.79x
Net margin: 9.6%
52-week range: $0.91 to $1.46

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

Questions

Who is investing in Emeco Holdings Ltd (ASX:EHL)?

Fund managers including Asymmetric Asset Management, Centennial Asset Management, Paradice Investment Management, Seneca Financial Solutions, Tamim Funds Management, Collins St Asset Management, Ryder Capital, Firetrail Investments, Oracle Advisory Group, Elston Asset Management, First Samuel and Blue Boat Capital have invested in Emeco Holdings Ltd (ASX:EHL).

What opportunities or catalysts do fund managers highlight for Emeco Holdings Ltd?

Managers highlight significant cash generation, balance sheet strengthening and a path to higher fleet utilisation, according to Asymmetric and First Samuel, while Elston added Emeco as a new holding.

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

Asymmetric and First Samuel note earnings guidance slightly below the prior year, and Ryder exited to raise cash ahead of expected volatility. Emeco remains exposed to mining activity levels.

What does Emeco Holdings Ltd (ASX:EHL) do?

Emeco Holdings Ltd, established in 1972 and headquartered in Osborne Park, Australia, provides heavy mining equipment rental and comprehensive maintenance services. The company operates through three core segments: Emeco Rental for earthmoving equipment solutions, Force Workshops for maintenance and component rebuild services, and Emeco Underground for underground mining equipment rental and technical support. Emeco delivers fleet optimization technology and engineering services to the mining sector, providing specialized asset management solutions across Australia.

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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