VSL, AU0000181984

UBS keeps Buy rating on Vulcan Steel stock at AUD 6.40

Published on 10/25/2026 at 02:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

FY26 revenue rose 22 percent and adjusted net profit after tax 28 percent. Vulcan Steel stock closed at AUD 5.61 on the ASX on October 23, 2026.

Analyst target and company growth

UBS kept its Buy rating and set an AUD 6.40 target on October 22, 2026.
FY26 revenue rose 22 percent, while adjusted net profit after tax increased 28 percent.
Vulcan Steel stock stood at AUD 5.61 at 4:10 p.m. AEDT on October 23, 2026.

VSL, AU0000181984, Illustration mit AI erstellt.

Vulcan Steel (AU0000181984) has an AUD 6.40 price target from UBS, which kept its Buy rating on October 22, 2026, according to Markets Insider. The October 21 annual meeting supplied the latest company backdrop: FY26 sales volumes rose 18 percent, revenue increased 22 percent and adjusted net profit after tax grew 28 percent, according to Listcorp.

Dividend growth meets governance continuity

The FY26 shareholder update paired operating growth with a higher payout. Vulcan declared a final dividend of 4.5 cents per share, taking the full-year FY26 dividend to 7.0 cents, up from 6.0 cents in the prior year, according to Listcorp.

The same October 21, 2026 release said the payout totaled AUD 10.3 million, equal to 47 percent of net profit after tax before significant items. That ratio remained within the board's stated 40 percent to 80 percent policy range, giving the dividend increase a measurable capital-allocation frame.

Three milestones shaped the year

On January 1, 2026, Gavin Street became managing director and chief executive officer while Rhys Jones moved from CEO to chair, marking two top leadership changes. On October 20, 2026, Vulcan's meeting materials described 82 logistics and processing facilities. On October 21, 2026, shareholders considered the annual meeting resolutions and the FY26 dividend of 7.0 cents, according to Listcorp.

What does the AUD 6.40 target imply?

Against the ASX price of AUD 5.61 on October 23, 2026, the UBS target lies 14.08 percent above the share price. That gap is a valuation signal rather than a forecast from this article, while the competing RBC view in the recent coverage carried a Hold rating and an AUD 5.25 target.

ASX price and company scale

Vulcan Steel stood at AUD 5.61 on the ASX on October 23, 2026. Its market capitalization was AUD 822.0 million, with a 52-week range of AUD 4.59 to AUD 7.98. The company distributes and processes steel and metal products across Australia and New Zealand.