FLETCHER BUILDING LIMITED (FBU)
Share Price Analysis and Chart

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FBU - FLETCHER BUILDING LIMITED

FNArena Sector : Building Products & Services
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 4.19
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

$2.77

20 Nov
2024

-0.050

OPEN

$2.82

-1.77%

HIGH

$2.82

5,724,805

LOW

$2.73

TARGET
$2.48 -10.5% downside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ACF . BKW . BRI . FBR . JHX . JLG . MGH . RWC . SFC . SRG . WGN .
FNARENA'S MARKET CONSENSUS FORECASTS
FBU: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 14.0 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 19.6 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 © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-26.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx7,107.4 M
Book Value Per Share xxxxxxxxxxxxxxx377.6
Net Operating Cash Flow xxxxxxxxxxxxxxx368.2 M
Net Profit Margin xxxxxxxxxxxxxxx-1.12 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-2.49 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.30 %
Return on Assets xxxxxxxxxxxxxxx-0.97 %
Return on Equity xxxxxxxxxxxxxxx-2.49 %
Return on Total Capital xxxxxxxxxxxxxxx7.19 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-118.4 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 xxxxxxxxxxxxxxx228 M
Long Term Debt xxxxxxxxxxxxxxx3,005 M
Total Debt xxxxxxxxxxxxxxx3,234 M
Goodwill - Gross xxxxxxxxxxxxxxx587 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx284 M
Price To Book Value xxxxxxxxxxxxxxx0.66

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx371.9 M
Capex % of Sales xxxxxxxxxxxxxxx5.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx5,107 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,540 M
Research & Development xxxxxxxxxxxxxxx3 M
Investments - Total xxxxxxxxxxxxxxx335 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

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

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

-

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

-

xx.xx%

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UBS

08/10/2024

3

Neutral

-

-

Before turning more upbeat on the outlook for Fletcher Building, UBS is seeking increased evidence of a tangible rise in activity levels, opposed to industry contacts inferring a more positive environment post rate cuts in NZ.

The broker notes the next trading update will be at the ASM on October 23 with management not offering any guidance at the recent NZ$700m capital raising.

Earnings forecasts are lowered by -7% in FY25 and -4% in FY26 for lower home sale volumes versus higher construction earnings, as well as higher head office costs and softer Australian operating leverage.

Target price lowers to NZ$3.25 from NZ$3.45 with a Neutral rating maintained.

FORECAST
UBS forecasts a full year FY25 dividend of 0.00 cents and EPS of 13.79 cents.
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 22.06 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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

Goldman Sachs

28/10/2024

3

Neutral

$2.75

-0.72%

Fletcher Building provided a weaker-than-expected AGM trading update, Goldman Sachs highlights. The company did not give explicit FY25 EBIT guidance but expects a 1H/2H split of 40/60, compared to prior expectations of 45/55.

Materials and Distribution volumes were down -10-15% year-on-year, with declining revenue trends and a highly competitive market leading to continued margin pressure.

The broker has adjusted its FY25 EBIT forecast downward by -13% and maintained a Neutral rating with the price target unchanged at $2.75. No significant changes were made to financial forecasts.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 14.71 cents.
Goldman Sachs forecasts a full year FY26 dividend of 15.63 cents and EPS of 23.90 cents.
Access Extra Coverage Research History >

FBU STOCK CHART

FNArena News on FBU

1
Australian Broker Call *Extra* Edition – Oct 28, 2024

Oct 28 2024 - Daily Market Reports
2
Rudi’s View: Market Reflects Risk & Opportunities

Oct 09 2024 - Rudi's View
3
Weekly Ratings, Targets, Forecast Changes – 04-10-24

Oct 07 2024 - Weekly Reports
4
Next Week At A Glance – 30 Sep-4 Oct 2024

Sep 27 2024 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Sep 26, 2024

Sep 26 2024 - Daily Market Reports

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