Fund Manager Summary on Mader Group Ltd (ASX:MAD)
Mader Group Ltd (ASX:MAD) has recently shown positive momentum, driven by improved trading conditions in North America and an increasing likelihood of stock indexation, as noted by QVG Capital in their November 2025 report at a share price of approximately $8.39. Fund managers highlight this as a significant opportunity for growth, suggesting a favorable market environment may enhance performance. However, investors should remain cautious of potential operational challenges and market pressures that could impact future results. Overall, the consensus view points to a supportive outlook, contingent on sustained economic conditions and strategic company initiatives.
Commentary From The Managers
There are 2 insights from 2 fund managers regarding their investment in Mader Group Ltd (ASX:MAD) available on Thesis Tracker.
Unlock Updates With ThesisTracker Pro
Don’t let information asymmetry undermine your investment returns. Join other engaged investors on ThesisTracker Pro.
Updates are made available to members within 12 hours of being released. The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
QVG Capital
5 Nov 2025
$8.39
Summary
- QVG Capital observes positive trading conditions in North America for Mader Group Ltd.
- Mader Group Ltd. shows improved performance this month.
- Increased likelihood of indexation for the stock.
- QVG Capital continues to hold its position based on these developments.
Airlie Funds Management
30 Sept 2024
$4.96
Summary
- Mader delivered a strong result in its Australian business, with revenue and profit before interest and tax increasing by 25% and 27% respectively in FY24.
- Performance in North America was weaker in 2H24, with declines in both revenue and profit before interest and tax due to reduced coal activity.
- For FY25, Mader has guided to revenues of $870m (+12%) and NPAT of $57m (+13%).
- Airlie Funds Management suspects that this guidance is conservative.
- The implied 19x P/E ratio is considered to undervalue the quality and growth potential of the business.
- As a result, Mader remains a key holding in the portfolio.
The completeness, accuracy or current status of the investments referenced are not guaranteed.
Frequently Asked Questions
Who is investing in Mader Group Ltd (ASX:MAD)?
Fund managers including Airlie Funds Management and QVG Capital have invested in Mader Group Ltd (ASX:MAD).
Why do fund managers invest in Mader Group Ltd?
Fund managers are investing in Mader Group Ltd due to improved trading conditions in North America, which may enhance the company's growth prospects. The potential for stock indexation could also attract more investor interest, increasing liquidity. These factors, combined with Mader’s strategic assets and positioning in the market, contribute to a favorable risk/reward profile, making it an appealing choice for institutional investors.
What happened to Mader Group Ltd (ASX:MAD)?
Fund managers view Mader Group Ltd positively due to improved trading conditions in North America and the increasing likelihood of indexation, contributing to its strong performance and making it a favorable investment option.
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. is a maintenance services company. It provides specialized contract labour for maintenance of heavy mobile equipment in the resources industry. Its services include maintenance labour, field support, shutdown maintenance teams, maintenance workshops, training of maintenance teams, and a range of other ancillary services. The company was founded by Luke Mader in 2005 and is headquartered in Perth, Australia.