FLETCHER BUILDING LIMITED (FBU)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

FBU

FBU - FLETCHER BUILDING LIMITED

FNArena Sector : Building Products & Services
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 3.73
Index: ASX200 | ASX300 | ALL-ORDS

Fletcher Building is a New Zealand construction & engineering company. It also manufactures and markets a range of building products in Australia and New Zealand. It was de-merged from Fletcher Challenge and listed on the ASX & NZX in 2001.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.05

03 Dec
2025

-0.010

OPEN

$2.91

-0.33%

HIGH

$3.05

1,157,214

LOW

$2.91

TARGET
$3.13 2.6% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ACF . BRI . FBR . JHX . MGH . RWC . SFC . SRG . WGN .
FNARENA'S MARKET CONSENSUS FORECASTS
FBU: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 15.4 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 19.7 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

Last ex-div: 14/09 - ex-div 14.7c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-37.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx6,379.6 M
Book Value Per Share xxxxxxxxxxxxxxx312.9
Net Operating Cash Flow xxxxxxxxxxxxxxx477.1 M
Net Profit Margin xxxxxxxxxxxxxxx-5.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-10.52 %
Return on Invested Capital xxxxxxxxxxxxxxx-5.76 %
Return on Assets xxxxxxxxxxxxxxx-4.34 %
Return on Equity xxxxxxxxxxxxxxx-10.52 %
Return on Total Capital xxxxxxxxxxxxxxx5.54 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx221.7 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 xxxxxxxxxxxxxxx215 M
Long Term Debt xxxxxxxxxxxxxxx2,257 M
Total Debt xxxxxxxxxxxxxxx2,472 M
Goodwill - Gross xxxxxxxxxxxxxxx412 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx129 M
Price To Book Value xxxxxxxxxxxxxxx0.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx255.4 M
Capex % of Sales xxxxxxxxxxxxxxx4.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx4,601 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,444 M
Research & Development xxxxxxxxxxxxxxx2 M
Investments - Total xxxxxxxxxxxxxxx358 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

-0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

15/10/2025

3

Neutral

-

-

UBS warns New Zealand building materials conditions may worsen before improving. Valuing cyclicals is difficult at this point in the cycle, notes the broker, with near-term earnings risk offset by a better medium-term outlook.

Volumes for 1Q26 have weakened further, driven by a soft Auckland housing market, a lull in major infrastructure work, and margin pressure across Distribution, Concrete and Insulation, caution the analysts. A material recovery is not anticipated until 2027.

Fletcher Building’s 1Q26 volumes weakened further, notes UBS, with Winstone wallboard and aggregates down -3.8% and -6.3% year-on-year, respectively.

Earnings margins are under pressure across Distribution, Concrete and Insulation, while consent cancellations above 10% have removed over -$2bn of annual work, explain the analysts.

Neutral. Target increased to NZ$3.55 from NZ$3.40 on a valuation roll-forward.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.29 cents.
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.81 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

03/12/2025

1

Buy

-

-

Fletcher Building is viewed by Jarden as a late-cycle recovery play, with meaningful improvement unlikely before FY27 given the subdued New Zealand residential market. Further, FY26 earnings are expected to be heavily second-half weighted.

The broker notes delayed cost-out benefits and still-soft indicators such as Humes pipes and Auckland commercial demand. Positively, lower interest rates are anticipated to aid additions and alterations through the company's key Placemakers segment.

Jarden sees a slow grind through early 2026 before momentum improves and retains a Buy rating while lifting its target price to NZ$4.09 from NZ$3.93.
Access Extra Coverage Research History >

FBU STOCK CHART

FNArena News on FBU

1
Australian Broker Call *Extra* Edition – Dec 04, 2025

11:00 AM - Daily Market Reports
2
Rudi’s View: Identifying Quality Opportunities

Oct 29 2025 - Rudi's View
3
Rudi’s View: In Corporate Earnings We Must Trust

Oct 22 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Oct 20, 2025

Oct 20 2025 - Daily Market Reports
5
Rudi’s View: August Results; Standouts, Turnarounds, Failures & Misfits

Sep 10 2025 - Rudi's View

Latest Building Products & Services News

1
Stockland Firing On All Cylinders

Sep 02 2025 - Australia
2
America Not The Main Game For Brickworks

Mar 12 2025 - Small Caps
3
Acrow’s Contact Win & Record Pipeline

Dec 11 2024 - Small Caps
4
Cyclically Challenged Brickworks Prioritises Cash

Oct 01 2024 - Australia
5
Bottom’s In For James Hardie

Jun 18 2024 - Technicals
6
Boral Beats, Outlook Cautious

Feb 12 2024 - Australia
7
Brickworks Underestimated & Cheap, Brokers Say

Oct 04 2023 - Australia
8
Analysts In Love With James Hardie, Yet Again

Aug 23 2023 - Australia
9
Johns Lyng And The Weather Factor

Jun 26 2023 - Small Caps
10
Treasure Chest: Boral To Prove Sceptics Wrong?

Apr 04 2023 - Treasure Chest