HARVEY NORMAN HOLDINGS LIMITED (HVN)
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HVN

HVN - HARVEY NORMAN HOLDINGS LIMITED

FNArena Sector : Consumer Electronics
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 2.55
Index: ASX200 | ASX300 | ALL-ORDS

Harvey Norman is a multinational retailer of household products, electronics and consumer electrical goods. The present company formed in 1982 and listed on the ASX in 1987.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.30

22 Sep
2025

-0.030

OPEN

$7.33

-0.41%

HIGH

$7.41

1,495,023

LOW

$7.29

TARGET
$7.442 1.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . JBH .
FNARENA'S MARKET CONSENSUS FORECASTS
HVN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 41.6 39.0 xxx
DPS (cps) xxx 26.5 29.9 xxx
EPS Growth xxx 46.9% - 6.2% xxx
DPS Growth xxx 20.5% 12.7% xxx
PE Ratio xxx N/A 18.7 xxx
Dividend Yield xxx N/A 4.1% xxx
Div Pay Ratio(%) xxx 63.7% 76.6% xxx

Dividend yield today if purchased 3 years ago: 6.48%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.62

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: 15/10 - ex-div 12c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx41.6
DPS All xxxxxxxxxxxxxxx26.5
Sales/Revenue xxxxxxxxxxxxxxx4,121.5 M
Book Value Per Share xxxxxxxxxxxxxxx385.5
Net Operating Cash Flow xxxxxxxxxxxxxxx694.3 M
Net Profit Margin xxxxxxxxxxxxxxx12.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.14 %
Return on Invested Capital xxxxxxxxxxxxxxx8.03 %
Return on Assets xxxxxxxxxxxxxxx6.36 %
Return on Equity xxxxxxxxxxxxxxx11.14 %
Return on Total Capital xxxxxxxxxxxxxxx10.27 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx211.7 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 xxxxxxxxxxxxxxx744 M
Long Term Debt xxxxxxxxxxxxxxx1,552 M
Total Debt xxxxxxxxxxxxxxx2,296 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx280 M
Price To Book Value xxxxxxxxxxxxxxx1.37

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx183.6 M
Capex % of Sales xxxxxxxxxxxxxxx4.45 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,204 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,201 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,724 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

0.6

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

03/09/2025

1

Buy

$8.30

13.70%

Harvey Norman delivered earnings beats across all three divisions, according to Bell Potter, with Australian franchising reflecting the fastest growth.

Robust momentum has been maintained into July and the start of FY26, with overall sales up 9.9% and Australia franchisee like-for-like sales up 6.4% versus 3.3% in the prior period.

Growth is evident across Home & Lifestyle, Mobile, Computer Technology & Electrical, with positive comps from Ireland and NZ.

Bell Potter lifts its net profit after tax forecasts by 3.1% for FY26 and 6.9% for FY27. Target price rises 38% to $8.30 from $6.

Buy rating maintained.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 30.90 cents and EPS of 38.20 cents.
Bell Potter forecasts a full year FY27 dividend of 35.30 cents and EPS of 43.70 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$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

Jarden

09/09/2025

2

Overweight

$6.70

-8.22%

Jarden assesses Harvey Norman's FY25 result as strong, with revenue up 6% y/y and 1% ahead of its forecast. Profit before tax was 9% higher y/y and 1% above forecast.

The highlights were a strong franchising operating margin in Australia, market share gain and a solid start to FY26 sales. Australian margins rose 84bps y/y, and franchisee fee margin was up 49bps y/y in 2H vs +14bps in 1H.

Sales rose 10% y/y in July and like-for-like sales grew 8.7% y/y. The broker lifted FY26-28 EBITDA forecasts by 3-5% to reflect a strong start to FY26 and higher operating margin.

FY26-29 EPS growth is forecast at a compounded annual rate of 7%.

Overweight. Target rises to $6.70 from $5.40.

FORECAST
Jarden forecasts a full year FY26 dividend of 29.00 cents and EPS of 41.80 cents.
Jarden forecasts a full year FY27 dividend of 32.00 cents and EPS of 48.20 cents.
Access Extra Coverage Research History >

HVN STOCK CHART

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