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: 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

$2.78

22 Aug
2025

0.020

OPEN

$2.75

0.72%

HIGH

$2.78

1,140,283

LOW

$2.68

TARGET
$3.04 9.4% upside
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 FY26
Forecast		 FY27
Forecast
EPS (cps) 17.4 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 15.9 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 © 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

0.0

No. Of Recommendations

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

Citi

xx/xx/xxxx

1

xxx

-

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

21/08/2025

5

Underperform

-

-

Fletcher Building's second half earnings pre-significant items were -3% short of consensus. Divisionally, the quality was poor, Macquarie notes, with Concrete and Australia missing materially.

The company has engaged CBRE Investment Management to look at selling bare land at Fletcher Residential. The last time we saw bare land sales was around the GFC, Macquarie points out.

On the broker's forecasts, Fletcher Building  will not review its dividend for resumption until it sells some -NZ$0.5bn. Given predominantly negative catalysts, Macquarie retains Underperform. Target falls to NZ$1.67 from NZ$1.80.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 15.34 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 18.45 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

-

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

15/08/2025

1

Buy

-

-

Jarden reviews current New Zealand housing conditions, resulting in a cut to its target price for Fletcher Building to NZ$4.12 from NZ$4.14. 

The broker notes New Zealand’s housing market remains soft, with no recovery expected until 2026, while Australian exposure is not yet delivering benefits.

Fletcher Building’s FY25 earnings (EBIT) guidance of NZ$370-375m is in line with Jarden’s forecast, but a significant earnings recovery is not expected before FY27. 

Jarden prefers Vulcan Steel over Fletcher Building for an earlier cycle recovery trade, citing stronger competitive positioning and greater Australian exposure.

Fletcher Building is considered a Buy for corporate action potential rather than cycle recovery.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.53 cents.
Access Extra Coverage Research History >

FBU STOCK CHART

FNArena News on FBU

1
FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
2
Australian Broker Call *Extra* Edition – Aug 18, 2025 (Extra)

Aug 18 2025 - Daily Market Reports
3
Rudi’s View: Consumer Stocks, Insurers, Telcos & More

Jul 31 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Jul 23, 2025

Jul 23 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jun 26, 2025

Jun 26 2025 - Daily Market Reports

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