ACCENT GROUP LIMITED (AX1)
Share Price Analysis and Chart

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AX1 - ACCENT GROUP LIMITED

FNArena Sector : Apparel & Footwear
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 1.85
Index: ASX300 | ALL-ORDS

Accent Group is an Australian retailer and distributor of sports and lifestyle footware in Australia and New Zealand. Its stores include Athlete's Foot, Hype DC and Podium Sports. The company listed in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.53

20 Nov
2024

0.040

OPEN

$2.51

1.61%

HIGH

$2.55

1,767,159

LOW

$2.47

TARGET
$2.484 -1.8% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BBN . CCX . CTT . MOZ . MYR . PMV . UNI .
FNARENA'S MARKET CONSENSUS FORECASTS
AX1: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.6 14.2 xxx
DPS (cps) xxx 13.0 12.6 xxx
EPS Growth xxx - 34.3% 33.5% xxx
DPS Growth xxx - 25.7% - 2.9% xxx
PE Ratio xxx N/A 15.9 xxx
Dividend Yield xxx N/A 5.6% xxx
Div Pay Ratio(%) xxx 122.5% 89.2% xxx

Dividend yield today if purchased 3 years ago: 4.92%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.78

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 11/09 - ex-div 4.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx10.6
DPS All xxxxxxxxxxxxxxx13.0
Sales/Revenue xxxxxxxxxxxxxxx1,448.1 M
Book Value Per Share xxxxxxxxxxxxxxx74.4
Net Operating Cash Flow xxxxxxxxxxxxxxx246.1 M
Net Profit Margin xxxxxxxxxxxxxxx4.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.84 %
Return on Invested Capital xxxxxxxxxxxxxxx7.13 %
Return on Assets xxxxxxxxxxxxxxx5.17 %
Return on Equity xxxxxxxxxxxxxxx13.84 %
Return on Total Capital xxxxxxxxxxxxxxx12.70 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx142.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx149 M
Long Term Debt xxxxxxxxxxxxxxx394 M
Total Debt xxxxxxxxxxxxxxx542 M
Goodwill - Gross xxxxxxxxxxxxxxx324 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx28 M
Price To Book Value xxxxxxxxxxxxxxx2.60

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx31.8 M
Capex % of Sales xxxxxxxxxxxxxxx2.20 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,114 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx209 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

09/09/2024

1

Overweight

$2.75

8.70%

For Accent Group, Morgan Stanley sees near-term upside from higher margins due to fixed-cost leverage and in the longer-term benefits from a protracted store rollout strategy. The company is one of the broker's key small/mid cap ideas under coverage.

New formats such as Nude Lucy and Stylerunner are gaining traction, note the analysts, while established formats like Skechers and Platypus continue to grow.

Accent's younger customer demographic has been most negatively impacted by the macroeconomic backdrop over the last two years and should benefit the most in a cyclical upturn, suggests Morgan Stanley.

Overweight. Target is raised to $2.75 from $2.50. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 11.50 cents and EPS of 14.40 cents.
Morgan Stanley forecasts a full year FY26 dividend of 12.90 cents and EPS of 16.10 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Jarden

02/09/2024

1

Upgrade to Buy from Overweight

$2.29

-9.49%

Accent Group's FY24 Gross Profit Margins missing consensus by only -34bps is more than offset by a 1.2% cost of doing busines
beat, further cost-out in FY25-27, and a strong trading update for the first seven weeks of FY25, Jarden suggests.

The broker considers the sell-off an overreaction, particularly given Accent has multiple significant growth drivers in the medium
term as it buys back Athlete's Foot franchisees, closes unprofitable stores, annualises FY24 cost-outs, and continues to expand its network.

Jarden upgrades to Buy from Overweight to Buy, with Accent presenting further upside through improving potentially conservative store guidance, potential FX gross margin tailwinds and clarity regarding the extent of FY25-27 cost-out at the next update.

Target rises to $2.29 from $2.28.

FORECAST
Jarden forecasts a full year FY25 EPS of 14.50 cents.
Jarden forecasts a full year FY26 EPS of 16.00 cents.

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

AX1 STOCK CHART

FNArena News on AX1

1
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Oct 23 2024 - Rudi's View
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Sep 26 2024 - Rudi's View
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Sep 24 2024 - Feature Stories

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