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: 2.2
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.98

21 Nov
2025

0.230

OPEN

$10.51

2.14%

HIGH

$11.28

1,082,746

LOW

$10.45

TARGET
$12.108

+0.06 change from previous day

 10.3% upside
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 FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 49.2 44.0 xxx
DPS (cps) xxx 18.4 16.9 xxx
EPS Growth xxx - 24.2% - 10.6% xxx
DPS Growth xxx - 28.7% - 7.9% xxx
PE Ratio xxx N/A 28.1 xxx
Dividend Yield xxx N/A 1.4% xxx
Div Pay Ratio(%) xxx 37.3% 38.5% xxx

Dividend yield today if purchased 3 years ago: 1.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.48

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: 08/10 - ex-div 17.75c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx49.2
DPS All xxxxxxxxxxxxxxx18.4
Sales/Revenue xxxxxxxxxxxxxxx8,978.4 M
Book Value Per Share xxxxxxxxxxxxxxx626.2
Net Operating Cash Flow xxxxxxxxxxxxxxx599.8 M
Net Profit Margin xxxxxxxxxxxxxxx3.53 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx7.99 %
Return on Invested Capital xxxxxxxxxxxxxxx5.54 %
Return on Assets xxxxxxxxxxxxxxx4.37 %
Return on Equity xxxxxxxxxxxxxxx7.99 %
Return on Total Capital xxxxxxxxxxxxxxx9.29 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx201.2 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx149 M
Long Term Debt xxxxxxxxxxxxxxx1,822 M
Total Debt xxxxxxxxxxxxxxx1,971 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx275 M
Price To Book Value xxxxxxxxxxxxxxx2.29

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx258.4 M
Capex % of Sales xxxxxxxxxxxxxxx2.88 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,420 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,013 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx20 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

0.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

24/11/2025

1

Buy

$14.50

32.06%

Ord Minnett believes Reece's 1Q26 update showed branch expansion paying off, with year-to-date sales back in growth and margins stabilising, setting up an earnings recovery from cyclical lows.

Sales rose 8% y/y to $2.41bn (6% constant currency terms), beating expectations. Like-for-like sales increased by 2% led by A&NZ, offset by a slight US decline.

Profitability was, however, weaker, though broadly in line with expectations, and the broker expects the near-term outlook to be challenging.

Buy. Target unchanged at $14.50.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 18.50 cents and EPS of 46.80 cents.
Ord Minnett forecasts a full year FY27 dividend of 22.50 cents and EPS of 56.10 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

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

10/11/2025

3

Neutral

$12.30

12.02%

Jarden assesses investor sentiment on Reece remains cautious post the FY25 earnings reset, with discussions centred on competition, US positioning, and capital management.

The analysts met with a broad range of investors. They question Reece’s US strategy and the value of the Morsco acquisition amid strong competitors, yet acknowledged improving gross margins and dual-trade opportunities.

US-based competitor STAline’s expansion is seen as a limited revenue risk, though profitability pressure is possible, suggests the broker.

Jarden highlights the $365m off-market buyback as a sign of management confidence and healthy cash flow. While housing and labour cost risks persist, the broker maintains a positive long-term outlook supported by strong cash generation and strategic flexibility.

Unchanged Neutral rating and $12.30 target.

FORECAST
Jarden forecasts a full year FY26 dividend of 16.90 cents and EPS of 44.20 cents.
Jarden forecasts a full year FY27 dividend of 20.20 cents and EPS of 51.40 cents.
Access Extra Coverage Research History >

REH STOCK CHART

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