MYER HOLDINGS LIMITED (MYR)
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MYR - MYER HOLDINGS LIMITED

FNArena Sector : Household & Personal Products

Year End: July

GICS Industry Group : Retailing

Debt/EBITDA: 14.04

Index: ASX300 | ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.48 30 Sep 2025	0.005 OPEN $0.48	1.05% HIGH $0.51	15,043,321 LOW $0.48

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.48

30 Sep
2025

0.005

OPEN

$0.48

1.05%

HIGH

$0.51

15,043,321

LOW

$0.48

TARGET

$0.72

50.0% upside

Franking for last dividend paid out: 100%

OTHER COMPANIES IN THE SAME SECTOR
ABY . AOV . BRG . DSK . SSG .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	- 16.5	3.3	xxx
DPS (cps)	xxx	0.0	2.3	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	14.4	xxx
Dividend Yield	xxx	N/A	4.8%	xxx
Div Pay Ratio(%)	xxx	N/A	69.7%	xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

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: 27/03 - ex-div 3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	-16.5
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	3,008.7 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	51.5
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	253.3 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-7.02 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-36.87 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-10.55 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-6.55 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-36.87 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-5.76 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	187.4 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	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	238 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1,391 M
Total Debt	xxx	xxx	xxx	xxx	xxx	1,629 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	1,084 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	167 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.19

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	59.8 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	1.99 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	1,628 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	1,508 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgan Stanley	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	24/09/2025	3	Downgrade to Hold from Accumulate	$0.67	39.58%	Myer's FY25 profit of $36.8m was well below forecasts by Ord Minnett and consensus, with no final dividend as higher cost-of-doing-business (CODB) offset stronger 2H like-for-like sales. Cost pressures have persisted into FY26, highlights the analyst, though early sales growth of 3.1% year-on-year was ahead of forecasts. FY26 guidance for a 29-30% CODB margin signals to Ord Minnett further increases from the Apparel Brands integration and higher office spending. The broker estimates -$15–20m in additional costs will be embedded, while distribution centre issues reduced FY25 earnings by -$16m. Ord Minnett lowers its target price to 67c from 86c and downgrades to Hold from Accumulate.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgan Stanley

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

24/09/2025

Downgrade to Hold from Accumulate

$0.67

39.58%

Myer's FY25 profit of $36.8m was well below forecasts by Ord Minnett and consensus, with no final dividend as higher cost-of-doing-business (CODB) offset stronger 2H like-for-like sales.

Cost pressures have persisted into FY26, highlights the analyst, though early sales growth of 3.1% year-on-year was ahead of forecasts.

FY26 guidance for a 29-30% CODB margin signals to Ord Minnett further increases from the Apparel Brands integration and higher office spending.

The broker estimates -$15–20m in additional costs will be embedded, while distribution centre issues reduced FY25 earnings by -$16m.

Ord Minnett lowers its target price to 67c from 86c and downgrades to Hold from Accumulate.

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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
Canaccord Genuity	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Petra Capital	25/09/2025	1	Buy	$0.75	56.25%	Myer reported FY25 profit of $36.8m, -13.2% below Petra Capital's forecast, with earnings (EBIT) of $140.3m, -3.8% adrift of expectation. The broker notes costs-of-doing-business (CODB) rose 230bps on flat sales, driven by higher wages, occupancy inflation, and added capability. Pressures are expected to persist in FY26 despite a ‘value creation’ program. In FY26, the analyst forecasts a CODB headwind of around -$25m. The national distribution centre dragged down earnings by -$16m in FY25, notes the broker. While the opex drag is easing, -$32m will need to be invested to achieve a $20m benefit by FY28. While CODB is a set-back, management's broader strategy progresses well, suggests Petra Capital. Strategic initiatives such as Apparel Brands integration and Myer One expansion are thought to be on track. The first seven weeks of FY26 revealed a 3.1% rise in sales led by Myer Retail, with Myer Apparel Brands still negative. The broker lowers its target price to 75c from 90c. Buy rating retained. FORECAST Petra Capital forecasts a full year FY26 dividend of 2.00 cents and EPS of 3.40 cents. Petra Capital forecasts a full year FY27 dividend of 2.70 cents and EPS of 4.90 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

xx/xx/xxxx

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Petra Capital

25/09/2025

Buy

$0.75

56.25%

Myer reported FY25 profit of $36.8m, -13.2% below Petra Capital's forecast, with earnings (EBIT) of $140.3m, -3.8% adrift of expectation.

The broker notes costs-of-doing-business (CODB) rose 230bps on flat sales, driven by higher wages, occupancy inflation, and added capability.

Pressures are expected to persist in FY26 despite a ‘value creation’ program. In FY26, the analyst forecasts a CODB headwind of around -$25m.

The national distribution centre dragged down earnings by -$16m in FY25, notes the broker. While the opex drag is easing, -$32m will need to be invested to achieve a $20m benefit by FY28.

While CODB is a set-back, management's broader strategy progresses well, suggests Petra Capital. Strategic initiatives such as Apparel Brands integration and Myer One expansion are thought to be on track.

The first seven weeks of FY26 revealed a 3.1% rise in sales led by Myer Retail, with Myer Apparel Brands still negative.

The broker lowers its target price to 75c from 90c. Buy rating retained.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 2.00 cents and EPS of 3.40 cents.
Petra Capital forecasts a full year FY27 dividend of 2.70 cents and EPS of 4.90 cents.

Access Extra Coverage Research History >

MYR STOCK CHART

FNArena News on MYR

1	Australian Broker Call Extra Edition – Oct 01, 2025 11:00 AM - Daily Market Reports

2	Rudi’s View: AI Boom Reveals Our Inner Bias 10:00 AM - Rudi's View

3	Australian Broker Call Extra Edition – Sep 29, 2025 Sep 29 2025 - Daily Market Reports

4	Weekly Ratings, Targets, Forecast Changes – 26-09-25 Sep 29 2025 - Weekly Reports

5	FNArena Corporate Results Monitor – 26-09-2025 Sep 26 2025 - Australia

Latest Household & Personal Products News

1	Enlarged Myer Stumbles, But Remains Confident Sep 25 2025 - Small Caps

2	Breville Group: Brewing Growth Beyond Espresso Feb 14 2025 - Australia

3	Breville Takes On Trump’s Tariffs Nov 12 2024 - Australia

4	Breville’s Replacement Cycle Tailwind Oct 02 2024 - Australia

5	Breville: Struggling Sep 19 2023 - Technicals

6	Breville: Building Platform For Future Growth Aug 25 2023 - Australia

7	Shine Comes Off Adore Beauty Aug 31 2022 - Small Caps

8	BWX: Core Brands, Balance Sheet & Digital For Sale May 23 2022 - Australia

9	Breville Promises (Lots Of) Growth Feb 18 2022 - Australia

10	Treasure Chest: BWX Ltd Nov 26 2021 - Treasure Chest

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MYER HOLDINGS LIMITED (MYR)
Share Price Analysis and Chart