FLETCHER BUILDING LIMITED (FBU)
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FBU

FBU - FLETCHER BUILDING LIMITED

FNArena Sector : Building Products & Services
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2.67
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

$3.25

27 Aug
2026

-0.060

OPEN

$3.31

-1.81%

HIGH

$3.31

990,780

LOW

$3.23

TARGET
$2.76 -15.1% downside
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 FY27
Forecast		 FY28
Forecast
EPS (cps) 16.2 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 19.9 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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 © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx18.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx5,175.2 M
Book Value Per Share xxxxxxxxxxxxxxx304.0
Net Operating Cash Flow xxxxxxxxxxxxxxx629.4 M
Net Profit Margin xxxxxxxxxxxxxxx3.32 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx5.22 %
Return on Invested Capital xxxxxxxxxxxxxxx3.35 %
Return on Assets xxxxxxxxxxxxxxx2.55 %
Return on Equity xxxxxxxxxxxxxxx5.22 %
Return on Total Capital xxxxxxxxxxxxxxx6.54 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx380.8 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx243 M
Long Term Debt xxxxxxxxxxxxxxx1,419 M
Total Debt xxxxxxxxxxxxxxx1,662 M
Goodwill - Gross xxxxxxxxxxxxxxx360 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx119 M
Price To Book Value xxxxxxxxxxxxxxx0.92

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx248.7 M
Capex % of Sales xxxxxxxxxxxxxxx4.80 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,778 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,046 M
Research & Development xxxxxxxxxxxxxxx2 M
Investments - Total xxxxxxxxxxxxxxx178 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

-0.5

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

3

xxxxxxx

-

xx.xx%

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UBS

20/08/2026

3

Neutral

-

-

Fletcher Building's FY26 EBIT before significant items of NZ$414m was 3% above UBS at NZ$400m, with the broker seeing signs the restructuring is gaining traction through market share gains and margin recovery ahead of a meaningful volume rebound.

Volumes are expected to remain subdued until calendar 2027, but the analyst lifts its FY27 EBIT forecast by 8% to NZ$387m on market share gains and improved cost reductions.

Dividends are anticipated to resume in FY28 rather than FY29. Net debt of NZ$637m was better than expected, although near-term risks include destocking in 1Q27 and weaker activity ahead of the NZ general election in 2Q27.

UBS raises its target to NZ$4.10 from NZ$3.90.

FORECAST
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.12 cents.
UBS forecasts a full year FY28 dividend of 0.00 cents and EPS of 22.91 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$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

24/08/2026

2

Downgrade to Overweight from Buy

-

-

Jarden lowers its recommendation for Fletcher Building to an Overweight rating from Buy with its target price increased to NZ$4.33 from NZ$4.16 following an FY26 result marked by continuing operations EBIT before significant items of NZ$414m and a net debt position of NZ$637m.

The core three divisions saw normalised EBIT increase by 42% in the second half of FY26 following a -7% decline in the first half, largely reflecting orders brought forward ahead of price increases and margin benefits from lower-cost inventory.

Despite ongoing uncertainty, management continues to anticipate a meaningful volume recovery from calendar year 2027.

The broker's estimates reflect near-term EBIT upgrades of 1%-2%, while noting that the residential division remains under review, raising questions about potential capital deployment if a sale of its NZ$811m invested capital base occurs.

FORECAST
Jarden forecasts a full year FY27 dividend of 10.18 cents and EPS of 17.82 cents.
Jarden forecasts a full year FY28 dividend of 12.72 cents and EPS of 21.21 cents.
Access Extra Coverage Research History >

FBU STOCK CHART

FNArena News on FBU

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

11:00 AM - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 20-08-2026

Aug 20 2026 - Australia
4
Next Week At A Glance – 13-17 Jul 2026

Jul 10 2026 - Weekly Reports
5
Rudi’s View: The August Results Test Awaits

Jul 01 2026 - Rudi's View

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