Added to YB: 2025-06-26
Pitch date: 2025-06-24
JLG.AX [neutral]
Johns Lyng Group Limited
+37.59%
current return
Author Info
No bio for this author
Company Info
Johns Lyng Group Limited provides integrated building services in Australia, New Zealand, and the United States.
Market Cap
AUD 1.1B
Pitch Price
AUD 2.90
Price Target
N/A
Dividend
N/A
EV/EBITDA
10.33
P/E
30.08
EV/Sales
1.09
Sector
Construction and Engineering
Category
special_situation
Johns Lyng Group Limited - $JLG.AX
JLG.AX (conditional takeover update): Complex rollup model under PE takeover offer. Key issues: 1) No visible loan repayments from NCIs despite $35M receivables 2) Cash flow conversion collapsed to ~19% while margins rose 3) NCIs getting 113-121% of profits as distributions 4) CEO/COO relatives as NCI directors 5) Accounting manipulations through ownership changes. Corporate structure = 200+ entities.
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