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MAD
Mader Group Ltd
Commercial Services and Supplies
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About Mader Group Ltd
SOURCE
ACTION
FUND MANAGER
DATE
30 Jun 2026
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Monthly Report
Commentary
§ Important Notice
The entries below are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
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Frequently asked questions about Mader Group Ltd (ASX:MAD)
Frequently asked questions
Who is investing in Mader Group Ltd (ASX:MAD)?
Fund managers including Airlie Funds Management, QVG Capital, Cerutty Macro Fund and Spheria Asset Management have invested in Mader Group Ltd (ASX:MAD).
What opportunities or catalysts do fund managers highlight for Mader Group Ltd?
Cerutty Macro Fund, commenting around May 2026 when shares were about $8.34, described Mader Group as a capital-light global maintenance contractor largely agnostic to commodity prices, having compounded revenue from A$304 million in FY21 to A$872 million in FY25 (~30% CAGR), with FY26 guidance of at least A$1 billion in revenue and A$65 million NPAT on track, a management team that has delivered on every guidance target since listing, and North America (~20% of group revenue, 580+ employees, 100+ clients) as the most compelling growth vector given U.S. policy intent to rebuild its domestic mining and resources base; they saw a credible path to multiple expansion as the next strategic plan and North American scale develop. QVG Capital (November 2025, ~$8.39) similarly noted improving North American trading conditions and rising odds of index inclusion. Spheria Asset Management (June 2026, ~$7.92) mentioned Mader as one of its preferred quality mining-services exposures alongside GR Engineering and Lycopodium.
What are the key risks to the Mader Group Ltd investment thesis, according to fund managers?
No specific risks have been flagged in the fund manager commentary collected for Mader Group to date; coverage so far has focused on its North American growth opportunity, consistent guidance delivery, and valuation.
What is the short interest in Mader Group Ltd (ASX:MAD)?
The short interest in Mader Group Ltd (ASX:MAD) is 0.38% which makes it the 311th most shorted stock on the ASX. Of the 203.5M shares that Mader Group Ltd has on issue, 773.9K have been sold short.
What does Mader Group Ltd (ASX:MAD) do?
Mader Group Ltd, founded by Luke Mader in 2005 and headquartered in Perth, Australia, is a leading provider of specialized contract maintenance services for the resource industry. The company specializes in the maintenance of heavy mobile equipment, offering field support, shutdown maintenance teams, and workshop services. Additionally, Mader Group provides technical training for maintenance personnel and various ancillary support services. Mader Group delivers comprehensive workforce solutions designed to optimize equipment availability and operational efficiency for global mining and resource clients.