ACCENT GROUP LIMITED (AX1)
Share Price Analysis and Chart

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AX1

AX1 - ACCENT GROUP LIMITED

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

Accent Group is an Australian retailer and distributor of sports and lifestyle footware in Australia and New Zealand. Its stores include Athlete's Foot, Hype DC and Podium Sports. The company listed in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.895

05 Mar
2025

-0.085

OPEN

$1.88

-4.29%

HIGH

$1.92

1,452,472

LOW

$1.85

TARGET
$2.514 32.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BBN . CCX . CTT . MOZ . MYR . PMV . UNI .
FNARENA'S MARKET CONSENSUS FORECASTS
AX1: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.6 13.8 xxx
DPS (cps) xxx 13.0 10.4 xxx
EPS Growth xxx - 34.3% 29.9% xxx
DPS Growth xxx - 25.7% - 20.2% xxx
PE Ratio xxx N/A 13.6 xxx
Dividend Yield xxx N/A 5.5% xxx
Div Pay Ratio(%) xxx 122.5% 75.3% xxx

Dividend yield today if purchased 3 years ago: 7.56%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.93

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: 11/09 - ex-div 4.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx10.6
DPS All xxxxxxxxxxxxxxx13.0
Sales/Revenue xxxxxxxxxxxxxxx1,448.1 M
Book Value Per Share xxxxxxxxxxxxxxx74.4
Net Operating Cash Flow xxxxxxxxxxxxxxx246.1 M
Net Profit Margin xxxxxxxxxxxxxxx4.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.84 %
Return on Invested Capital xxxxxxxxxxxxxxx7.13 %
Return on Assets xxxxxxxxxxxxxxx5.17 %
Return on Equity xxxxxxxxxxxxxxx13.84 %
Return on Total Capital xxxxxxxxxxxxxxx12.70 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx142.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx149 M
Long Term Debt xxxxxxxxxxxxxxx394 M
Total Debt xxxxxxxxxxxxxxx542 M
Goodwill - Gross xxxxxxxxxxxxxxx324 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx28 M
Price To Book Value xxxxxxxxxxxxxxx2.60

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx31.8 M
Capex % of Sales xxxxxxxxxxxxxxx2.20 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,114 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx209 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

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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UBS

24/02/2025

1

Buy

$2.45

29.29%

UBS analysts have maintained a Buy rating on Accent Group, keeping the price target at $2.45. FY25 EPS estimate has been revised up by 1.7% and FY26 estimate cut by -1.9% due to margin pressures.

The company reported 1H25 EBIT of $80.7m, in line with guidance, supported by strong sales growth in retail and wholesale, though gross margins were challenged, the broker observes.

Management remains focused on cost control and store expansion, with investments in vertical brands and The Athlete’s Foot corporatisation expected to drive long-term growth.

The broker sees valuation as attractive, with a -23% discount to ASX Small Ords and continued earnings momentum.

FORECAST
UBS forecasts a full year FY25 dividend of 9.00 cents and EPS of 14.00 cents.
UBS forecasts a full year FY26 dividend of 10.00 cents and EPS of 15.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

3

xxxxxxx

$xx.xx

xx.xx%

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Petra Capital

26/02/2025

3

Hold

$2.28

20.32%

Petra Capital notes Accent Group's 1H25 result was in line with January's trading update, with gross margin contracting -100bps but marginally offset by a 30bps improvement in cost of doing business (CODB).

Sales in the first seven weeks of 2H improved to 2.2% growth from 1.8% in the final six weeks of 1H, and gross margin contraction moderated to -70bps, but the broker is cautious given 2H24's sales growth was 4.1%.

The broker estimates sales growth needs to be around 3% to cover CODB inflation. The analyst believes the prospective agreement with Frasers Group is positive, but remains cautious given the broader business outlook.

Minor changes to forecasts. Hold rating remains and target price is unchanged at $2.28.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 8.60 cents and EPS of 12.20 cents.
Petra Capital forecasts a full year FY26 dividend of 9.60 cents and EPS of 13.70 cents.

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

AX1 STOCK CHART

FNArena News on AX1

1
Australian Broker Call *Extra* Edition – Mar 03, 2025

Mar 03 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 28-02-25

Mar 03 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 26, 2025

Feb 26 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 24-02-2025

Feb 24 2025 - Australia
5
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View

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