XERO LIMITED (XRO)
Share Price Analysis and Chart

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XRO

XRO - XERO LIMITED

FNArena Sector : Accountancy
Year End: March
GICS Industry Group : Software & Services
Debt/EBITDA: 2.07
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Xero Ltd is a New Zealand software company providing cloud-based accounting software platforms to small and medium sized businesses. Xero has over two million subscribers. Founded in 2006 the company listed in 2012 and has since expanded into Australia, the UK and the US.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$81.02

27 Apr
2026

-0.490

OPEN

$82.93

-0.60%

HIGH

$83.87

439,244

LOW

$80.35

TARGET
$144.075 77.8% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
RKN .
FNARENA'S MARKET CONSENSUS FORECASTS
XRO: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 123.0 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 65.2 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx135.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,914.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,299.3
Net Operating Cash Flow xxxxxxxxxxxxxxx738.9 M
Net Profit Margin xxxxxxxxxxxxxxx10.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx12.67 %
Return on Invested Capital xxxxxxxxxxxxxxx9.30 %
Return on Assets xxxxxxxxxxxxxxx6.13 %
Return on Equity xxxxxxxxxxxxxxx12.67 %
Return on Total Capital xxxxxxxxxxxxxxx11.75 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx726.9 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 xxxxxxxxxxxxxxx1,133 M
Long Term Debt xxxxxxxxxxxxxxx83 M
Total Debt xxxxxxxxxxxxxxx1,217 M
Goodwill - Gross xxxxxxxxxxxxxxx369 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,118 M
Price To Book Value xxxxxxxxxxxxxxx11.91

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx275.9 M
Capex % of Sales xxxxxxxxxxxxxxx14.41 %
Cost of Goods Sold xxxxxxxxxxxxxxx459 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,126 M
Research & Development xxxxxxxxxxxxxxx354 M
Investments - Total xxxxxxxxxxxxxxx519 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

1.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

09/04/2026

1

Overweight

$130.00

60.45%

Morgan Stanley has lowered price targets by around -20% on average across its Australian software and internet coverage. Near-term EPS estimate cuts are relatively modest but more meaningful over the longer-term.

Changes reflect the rapid impact of AI models and coding tools in compressing development timelines for competing software, the analysts explain.

Commentary notes all is not lost, with new opportunities emerging through additional products and revenue streams. However, it's noted companies will need to pivot and accelerate AI adoption to capture this potential.

Further, recent share price sell-offs are seen as largely indiscriminate and fail to reflect the relative competitive positioning of individual  software and internet stocks.

The broker's highest conviction Overweight positions within the sector are the internet marketplaces REA Group and CAR Group, alongside software names WiseTech Global, Xero and TechnologyOne.

Among smaller software names, Hansen Technologies and Catapult Sports are preferred. 

The target for Xero is reduced to $130 from $225. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 116.02 cents.
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of 114.70 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$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

16/04/2026

1

Buy

$120.00

48.11%

Jarden maintains its Buy rating on Xero with a $120.00 price target, reduced from $150.00, following revisions to long-term forecasts and the inclusion of the Melio acquisition.

The broker expects revenue growth will remain strong, supported by contributions from Melio, although subscriber growth has softened in key markets.

Near-term earnings forecasts are modestly upgraded, supported by favourable currency movements.

Longer-term estimates have been reduced to reflect slower market penetration. The valuation reset is a result of the updated outlook.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 140.58 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 137.68 cents.
Access Extra Coverage Research History >

XRO STOCK CHART

FNArena News on XRO

1
Weekly Ratings, Targets, Forecast Changes – 24-04-26

Apr 27 2026 - Weekly Reports
2
Rudi’s View: Best Buys & Conviction Calls

Apr 23 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Apr 16, 2026

Apr 16 2026 - Daily Market Reports
4
Rudi’s View: Trump’s Circus & Technology’s Brave New World

Apr 09 2026 - Rudi's View
5
Rudi’s View: Post-February Conviction Calls

Mar 12 2026 - Rudi's View

Latest Accountancy News

1
Is AI Nemesis Or Opportunity For Xero?

Feb 05 2026 - Australia
2
Sceptics Want Xero To Prove Melio’s Added Value

Nov 18 2025 - Australia
3
Xero’s Bold US Play

Jun 27 2025 - Australia
4
Xero: Maximising Long-Term Value Creation

May 20 2025 - Australia
5
Xero: The Pause That Refreshes

Jan 23 2025 - Technicals
6
Xero’s Growing Cash Balance In Focus

May 28 2024 - Australia
7
Treasure Chest: Xero

May 16 2024 - Treasure Chest
8
Reckon’s New Lease Of Life

Feb 15 2024 - Small Caps
9
Xero Sees The Value Of Profit

Mar 14 2023 - Australia
10
Xero In Focus

Feb 28 2023 - Technicals