METCASH LIMITED (MTS)
Share Price Analysis and Chart

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MTS - METCASH LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: April
GICS Industry Group : Food & Staples Retailing
Debt/EBITDA: 2.18
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Metcash is an Australian conglomerate marketing produce, alcohol, hardware and other consumer goods. Its brands include IGA, Mitre 10 and The Bottle O. Originally founded in 1927 by Joe David, it became a listed entity in 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.08

20 Nov
2024

-0.040

OPEN

$3.14

-1.28%

HIGH

$3.14

2,925,938

LOW

$3.07

TARGET
$3.66 18.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . EDV . GDA . GYG . ING . LRK . MBH . RFG . SGLLV . TSI . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
MTS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 25.8 25.5 xxx
DPS (cps) xxx 19.5 18.2 xxx
EPS Growth xxx - 3.8% - 1.0% xxx
DPS Growth xxx - 13.3% - 6.5% xxx
PE Ratio xxx N/A 12.1 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 75.6% 71.4% xxx

Dividend yield today if purchased 3 years ago: 4.71%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.29

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: 16/07 - ex-div 8.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx25.8
DPS All xxxxxxxxxxxxxxx19.5
Sales/Revenue xxxxxxxxxxxxxxx15,912.4 M
Book Value Per Share xxxxxxxxxxxxxxx138.9
Net Operating Cash Flow xxxxxxxxxxxxxxx482.6 M
Net Profit Margin xxxxxxxxxxxxxxx1.62 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx19.86 %
Return on Invested Capital xxxxxxxxxxxxxxx10.37 %
Return on Assets xxxxxxxxxxxxxxx4.60 %
Return on Equity xxxxxxxxxxxxxxx19.86 %
Return on Total Capital xxxxxxxxxxxxxxx16.49 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx199.4 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 xxxxxxxxxxxxxxx213 M
Long Term Debt xxxxxxxxxxxxxxx1,198 M
Total Debt xxxxxxxxxxxxxxx1,411 M
Goodwill - Gross xxxxxxxxxxxxxxx1,754 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx97 M
Price To Book Value xxxxxxxxxxxxxxx2.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx135.9 M
Capex % of Sales xxxxxxxxxxxxxxx0.85 %
Cost of Goods Sold xxxxxxxxxxxxxxx15,132 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx326 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx141 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

0.2

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

28/10/2024

5

Downgrade to Underperform from Outperform

$3.45

12.01%

Metcash reported below expectations and with 1H25 net guidance some -11% lower than Macquarie's forecasts with weaker sales in hardware, which typically generates higher margins. The "de-leverage" of the division is attributed to weakness in housing.

Management is seeking cost-out initiatives and market share expansion, with the broker highlighting "subdued" chances of a recovery in hardware with rising construction insolvencies and construction at cyclical lows.

Macquarie lowers EPS estimates by -11% to -12% for FY25 through to FY28 largely due to weakness in hardware.

The stock is downgraded to Neutral from Outperform with a decline in target price of -18% to $3.45.

FORECAST
Macquarie forecasts a full year FY25 dividend of 16.90 cents and EPS of 24.10 cents.
Macquarie forecasts a full year FY26 dividend of 18.60 cents and EPS of 26.50 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Goldman Sachs

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Jarden

01/10/2024

2

Overweight

$4.40

42.86%

Jarden observes the ACCC Interim grocery report with a final report expected on Feb 28, 2025, and does not anticipate any major negative regulatory changes to result.

The analyst does envisage three likely recommendations including a "mandatory price establishment period" before prices can be promoted; rules around land-banking, and improved transparency on suppler engagement.

Jarden remains positive on the grocery sector with a preference for Woolworths Group ((WOW)) over Metcash and Coles Group ((COL)).

The Overweight rating and $4.40 target are maintained for Metcash.

FORECAST
Jarden forecasts a full year FY25 dividend of 21.00 cents and EPS of 27.20 cents.
Jarden forecasts a full year FY26 dividend of 22.00 cents and EPS of 28.90 cents.
Access Extra Coverage Research History >

MTS STOCK CHART

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2
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3
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