REECE LIMITED (REH)
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REH

REH - REECE LIMITED

FNArena Sector : Furniture & Renovation
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 2.52
Index: ASX200 | ASX300 | ALL-ORDS

Reece is an international distributor of plumbing, waterworks, heating, cooling, bathroom and kitchen products, with operations in Australia, New Zealand and the US.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$18.38

06 Nov
2026

-0.590

OPEN

$18.50

-3.11%

HIGH

$18.88

587,351

LOW

$18.10

TARGET
$17.45

+0.13 change from previous day

 -5.1% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADH . BLX . GWA . HVN . JBH . JYC . NCK . TPW .
FNARENA'S MARKET CONSENSUS FORECASTS
REH: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 49.5 53.7 xxx
DPS (cps) xxx 18.8 20.7 xxx
EPS Growth xxx 0.7% 8.4% xxx
DPS Growth xxx 2.6% 9.9% xxx
PE Ratio xxx N/A 34.0 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 38.0% 38.5% xxx

Dividend yield today if purchased 3 years ago: 0.99%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.03

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: 06/10 - ex-div 13.40c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx49.5
DPS All xxxxxxxxxxxxxxx18.8
Sales/Revenue xxxxxxxxxxxxxxx9,378.4 M
Book Value Per Share xxxxxxxxxxxxxxx609.4
Net Operating Cash Flow xxxxxxxxxxxxxxx645.2 M
Net Profit Margin xxxxxxxxxxxxxxx3.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.91 %
Return on Invested Capital xxxxxxxxxxxxxxx5.27 %
Return on Assets xxxxxxxxxxxxxxx4.08 %
Return on Equity xxxxxxxxxxxxxxx7.91 %
Return on Total Capital xxxxxxxxxxxxxxx8.78 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx372.4 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx173 M
Long Term Debt xxxxxxxxxxxxxxx2,080 M
Total Debt xxxxxxxxxxxxxxx2,253 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx328 M
Price To Book Value xxxxxxxxxxxxxxx2.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx174.4 M
Capex % of Sales xxxxxxxxxxxxxxx1.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,664 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,187 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx17 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

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

30/10/2026

5

Sell

$16.10

-12.40%

First response: Citi retains a Sell rating on Reece despite solid September quarter trading, highlighting slowing volume growth and weakening indicators for the second half.

Group sales rose 4% to $2.51bn. A&NZ sales increased approximately 13%, supported by mid-single-digit price growth, but Citi estimates volume growth slowed to 7%-9% from low double digits in the second half of FY26.

US sales rose approximately 6%, with like-for-like growth around 2% despite difficult market conditions.

The broker cautions current activity reflects construction starts and permits from three to six months earlier.

Falling orders at US homebuilder DR Horton and deteriorating sales trends at Bunnings ((WES)) reinforce its cautious outlook.

Citi forecasts second-half EBIT declines, contrasting with consensus expectations for growth and consistent with management's more guarded outlook. Target drops to $16.10.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

03/11/2026

2

Overweight

$17.40

-5.33%

Jarden maintains an Overweight rating for Reece with a $17.40 target price following a solid 1Q27 trading update featuring sales of $2.51bn, representing a 4.3% year-on-year increase or an 8.7% rise in constant currency.

Jarden notes ANZ sales surged 12.8% year-on-year, marginally outpacing the 12.6% growth recorded in H2 FY26 and easily clearing the 8.3% consensus expectation for H1 FY27.

While the company's US sales grew 5.6% year-on-year in constant currency during the quarter (beating the rate implied by consensus), it landed below Jarden's 8% expectation.

In response, EPS forecasts have been revised by 2% for FY27 and 1% for FY28, reflecting a more positive outlook for the A&NZ business paired with near-term caution regarding the US division.
Access Extra Coverage Research History >

REH STOCK CHART

FNArena News on REH

1
Rudi’s View: Optimism Up, Headwinds Remain

Nov 04 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Nov 03, 2026

Nov 03 2026 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 30-10-26

Nov 02 2026 - Weekly Reports
4
Weekly Ratings, Targets, Forecast Changes – 28-08-26

Aug 31 2026 - Weekly Reports
5
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View

Latest Furniture & Renovation News

1
Joyce Corp’s Capital Light Growth In Focus

Oct 12 2026 - Small Caps
2
Strong Momentum Underpins Nick Scali’s FY26

Aug 12 2025 - Australia
3
Reece Battling Tariffs, Competition & Cost Crises

Jul 01 2025 - Australia
4
New Broom Clearing The Decks For Adairs

Jun 25 2025 - Small Caps
5
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
6
Temple & Webster Embraces The Future

Feb 20 2025 - Small Caps
7
Nick Scali’s Transitory Freight Headwind

Oct 24 2024 - Small Caps
8
Temple & Webster Spends Up For A Bigger Share

Aug 18 2023 - Small Caps
9
Too Harsh On Temple & Webster?

Feb 15 2023 - Australia
10
Nick Scali Worth Watching

Dec 20 2022 - Technicals