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Monadelphous Group Ltd ASX:MND

Mining Services Engineering Services Iron Ore Infrastructure Services

1 opened or increased4 held3 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 8 managers in total.

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

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20252026

2 Jan 2026 to today

Commentary Showing 2 of 18

DateManagerActionSummary

31 Aug 2026Pendal GroupHeldPendal Group continues to hold Monadelphous Group because the manager notes an FY26 result in line to slightly ahead of consensus, though focus centred on qualitative FY27 guidance for flattish to modestly growing revenue, with engineering and construction work won falling into FY27 and beyond and margins expected to hold at least flat. Pendal highlights strong FY26 earnings per share growth of 50%, though views this as a business growing into its multiple after the stock doubled in CY25, with revenue compounding 11.5% since FY22, largely driven by Energy, and $2.7 billion of new work won since mid-2025 underpinning the medium term.

Engineering ServicesNewsletter, price recorded $28.83

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4 Aug 2026Pendal GroupHeldPendal Group notes Monadelphous shares rose 0.6% because the company announced a $165 million contract award from Rio Tinto for the design and construction of non-process infrastructure at the Brockman Syncline 1 project, with work commencing in 2026 and completion expected in 2028.

Mining ServicesNewsletter, price recorded $29.98

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16 more comments on MNDPro 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 8 managers first commented on MND.

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Articles

31 Aug 2026Monadelphous Delivered 50% EPS Growth, Then Flattish Guidance Hit It
31 May 2026Monadelphous Rides a Contract Wave as Managers Debate the Peak

About Monadelphous Group Ltd

Industrials, Construction and Engineering

Monadelphous (ASX:MND), the engineering and maintenance contractor, has performed well but faces flat revenue guidance. In August 2026, Pendal Group reported Monadelphous' FY26 result was in line to slightly ahead of consensus, but qualitative FY27 guidance for flattish revenue weighed on the shares, which fell 10%. Pendal also noted a new Rio Tinto contract for non-process infrastructure at Brockman Syncline 1. Centennial said Monadelphous has done well over the past year with a positive outlook for mining services, while Plato sees the sector as under-appreciated, and Alliance Bernstein exited over fuel-rationing risk. Monadelphous operates in the Industrials sector within the Construction and Engineering industry, and Thesis Tracker has captured 16 comments from 7 fund managers, including Pendal, Centennial, Plato and Alliance Bernstein. Founded in 1972 and headquartered in Perth, Monadelphous provides construction, maintenance and industrial services to resources, energy and infrastructure customers in Australia and internationally.

Market cap: $2.9b
Price to earnings: 23.8x
Return on equity: 23.9%
Dividend yield: 4.1%
Price to book: 5.27x
Net margin: 4.6%
52-week range: $21.90 to $36.88

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

Questions

Who is investing in Monadelphous Group Ltd (ASX:MND)?

Fund managers including Clime Investment Management, Plato Investment Management, Yarra Capital Management, Plato Asset Management, Centennial Asset Management, Alliance Bernstein, Pendal Group and Ralton Asset Management have invested in Monadelphous Group Ltd (ASX:MND).

What opportunities or catalysts do fund managers highlight for Monadelphous Group Ltd?

Managers highlight continued contract wins such as Rio Tinto's Brockman Syncline 1 project, strong demand for mining services and an under-appreciated sector, according to Pendal, Centennial and Plato.

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

Pendal notes FY27 guidance for flattish revenue disappointed, and Alliance Bernstein exited due to exposure to potential fuel rationing affecting mining activity.

What does Monadelphous Group Ltd (ASX:MND) do?

Monadelphous Group Ltd. is an Australian industrial services provider founded in 1972, headquartered in Perth. The company specializes in construction and maintenance services for the global resources, energy, and infrastructure sectors. Monadelphous operates across diversified geographical segments, including Australia, Chile, Papua New Guinea, Mongolia, and other international locations. It provides essential engineering and maintenance support to support large-scale industrial projects.

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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