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    Earnings Turnaround May Reshape The Case For Dyno Nobel Stock

    Simply Wall St·11/09/2026 19:37:30
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    • Dyno Nobel reported full year sales of A$3,406.2 million for the year ended 30 September 2026, with net income of A$66.1 million compared with a loss a year earlier, and basic earnings per share from continuing operations of A$0.131.
    • The business highlighted record explosives EBIT of A$485 million and progress on its transformation program, with A$51 million of net benefits that supported guidance for higher underlying EBIT in FY27.
    • Attention now turns to how Dyno Nobel's investment narrative incorporates this shift to positive earnings, and what the stronger explosives EBIT represents for the business.

    Scan beyond Dyno Nobel and see how other explosives and heavy industry peers with stronger balance sheets and earnings profiles line up in our curated list of solid balance sheet and fundamentals (12 results).

    Dyno Nobel Investment Narrative Recap

    To own Dyno Nobel, you need to believe the focused explosives story can translate into more consistent earnings and cash generation, not just a one off swing back to profit. The latest full year result, with A$3,406.2 million in sales and A$66.1 million in net income, supports that narrative by putting the business on a cleaner earnings footing.

    The near term catalyst is execution on the transformation program and explosives EBIT delivery, especially with planned FY27 turnarounds at assets such as Cheyenne potentially weighing on headline numbers. The biggest risk is softer demand in coal, construction or quarrying, which could reduce volumes just as management is trying to prove out the targeted uplift in profitability.

    The most relevant piece of recent news is Dyno Nobel’s record explosives EBIT of A$485 million, up 12% year on year, supported by a 10% lift in explosives revenue and A$51 million of transformation benefits. That operational performance underpins the analyst consensus narrative on Simply Wall St that focuses on explosives earnings and margin quality over time.

    Against FY27 underlying EBIT guidance of about A$515 million to A$555 million, the record result sets a reference point for investors watching whether projects at Moranbah, Cheyenne and LOMO can support contracted volumes and premium technology uptake. Delivery against that range, alongside stable demand conditions in North America and other regions, is central to how catalysts and risks are judged from here.

    Dyno Nobel's narrative projects A$3.6b revenue and A$410.9 million earnings by 2029. This assumes revenue declines at 2.4% per year and requires an earnings increase of about A$155 million from A$255.4 million today.

    Uncover why Dyno Nobel's fair value indicates a 19% potential upside to its current price that could narrow quickly.

    ASX:DNL 1-Year Stock Price Chart
    ASX:DNL 1-Year Stock Price Chart

    Exploring Other Perspectives

    One alternate view focuses less on explosives EBIT targets and more on the risk that Dyno Nobel fails to earn enough on the capital now tied up in explosives only operations. The most cautious analysts were using roughly flat revenue assumptions around A$3.6b and earnings of about A$405.3 million by 2029 before this latest result. That is a more pessimistic story than the baseline. Both narratives were formed before the A$3,406.2 million sales and A$66.1 million net income were reported, so opinions may shift. Treat this as a prompt to compare several viewpoints, then decide which story feels more realistic to you.

    Explore 2 other Dyno Nobel fair value estimates, including one that suggests as much as 67% downside from the current price.

    Reach Your Own Conclusion

    Don't just follow the ticker; dig into the data and build a conviction that's truly your own.

    Looking for more Dyno Nobel style investment ideas?

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