NICK SCALI LIMITED (NCK)
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NCK - NICK SCALI LIMITED

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

Nick Scali is an Australian importer and retailer of household furniture through a chain of stores across Australia. Founded in 1962 the company listed on the ASX in 2004. Core brands include Nick Scali Furniture, Nick Scali Online, Sofas2Go and Plush.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$13.75

22 Nov
2024

0.210

OPEN

$13.56

1.55%

HIGH

$13.85

395,859

LOW

$13.50

TARGET
$15.303 11.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADH . BLX . GWA . HVN . JBH . JYC . REH . TPW .
FNARENA'S MARKET CONSENSUS FORECASTS
NCK: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 98.7 72.1 xxx
DPS (cps) xxx 68.0 58.2 xxx
EPS Growth xxx - 20.9% - 27.0% xxx
DPS Growth xxx - 9.3% - 14.4% xxx
PE Ratio xxx N/A 19.1 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 68.9% 80.8% xxx

Dividend yield today if purchased 3 years ago: 4.47%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.95

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: 25/09 - ex-div 33c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx98.7
DPS All xxxxxxxxxxxxxxx68.0
Sales/Revenue xxxxxxxxxxxxxxx468.2 M
Book Value Per Share xxxxxxxxxxxxxxx302.4
Net Operating Cash Flow xxxxxxxxxxxxxxx126.7 M
Net Profit Margin xxxxxxxxxxxxxxx17.22 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx36.84 %
Return on Invested Capital xxxxxxxxxxxxxxx16.15 %
Return on Assets xxxxxxxxxxxxxxx12.28 %
Return on Equity xxxxxxxxxxxxxxx36.84 %
Return on Total Capital xxxxxxxxxxxxxxx23.71 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx42.1 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 xxxxxxxxxxxxxxx40 M
Long Term Debt xxxxxxxxxxxxxxx280 M
Total Debt xxxxxxxxxxxxxxx320 M
Goodwill - Gross xxxxxxxxxxxxxxx118 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx111 M
Price To Book Value xxxxxxxxxxxxxxx4.57

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx28.5 M
Capex % of Sales xxxxxxxxxxxxxxx6.08 %
Cost of Goods Sold xxxxxxxxxxxxxxx279 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx61 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

0.8

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

22/10/2024

1

Outperform

$15.60

13.45%

Higher freight rates had a materially negative impact on the gross margin for Nick Scali in Q1, notes Macquarie, and Q2 will be particularly affected as written sales are delivered.

On the other hand, the analyst sees an acceleration of written sales in Q1 as a positive indicator into Q2, as well as the significant UK opportunity helping drive further medium-term sales growth.

Management confirmed store roll-out guidance for FY25.

Outperform rating unchanged. Target price falls to $15.60 from $16.25.

FORECAST
Macquarie forecasts a full year FY25 dividend of 56.40 cents and EPS of 73.40 cents.
Macquarie forecasts a full year FY26 dividend of 62.60 cents and EPS of 87.10 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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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

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Wilsons

25/10/2024

1

Overweight

$17.30

25.82%

Wilsons describes a "mixed" AGM trading update by Nick Scali. The broker's target falls by -10 cents to $17.30. Overweight.

The gross margin will be “down around -240bps or more”, stated management, due to increased freight rates, resulting in lower A&NZ profit guidance of between $30-33m.

On the other hand, the broker highlights an improvement in the A&NZ wholesale order (WSO) trajectory in August and September, and an improving UK gross margin on very little volume at this early stage.

FORECAST
Wilsons forecasts a full year FY25 dividend of 50.20 cents and EPS of 74.10 cents.
Wilsons forecasts a full year FY26 dividend of 69.20 cents and EPS of 98.90 cents.
Access Extra Coverage Research History >

NCK STOCK CHART

FNArena News on NCK

1
Next Week At A Glance – 25-29 Nov 2024

Nov 22 2024 - Weekly Reports
2
Rudi’s View: The Importance Of ‘Quality’ Growth

Nov 21 2024 - Rudi's View
3
Rudi’s View: A Rally With No Earnings Support

Nov 14 2024 - Rudi's View
4
Rudi’s View: Trump Returns, What Now?

Nov 07 2024 - Rudi's View
5
Rudi’s View: US Earnings & The Election

Oct 31 2024 - Rudi's View

Latest Furniture & Renovation News

1
Nick Scali’s Transitory Freight Headwind

Oct 24 2024 - Small Caps
2
Temple & Webster Spends Up For A Bigger Share

Aug 18 2023 - Small Caps
3
Too Harsh On Temple & Webster?

Feb 15 2023 - Australia
4
Nick Scali Worth Watching

Dec 20 2022 - Technicals
5
Treasure Chest: Temple & Webster

Nov 23 2022 - Treasure Chest
6
Temple & Webster Outperforming Peers

Feb 11 2022 - Australia
7
Nick Scali Settles On Plush Sofas

Oct 06 2021 - Small Caps
8
Re-Rating In View As Beacon Lighting Expands

Aug 23 2021 - Small Caps
9
Satisfied Customers Boost Temple & Webster

Jul 28 2021 - Small Caps
10
Temple & Webster Sets The Scene Online

Mar 16 2021 - Australia