WESFARMERS LIMITED (WES)
Share Price Analysis and Chart

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WES - WESFARMERS LIMITED

FNArena Sector : Consumer Products & Services
Year End: June
GICS Industry Group : Food & Staples Retailing
Debt/EBITDA: 1.97
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Wesfarmer is an Australian conglomerate with interests predominantly in Australian and New Zealand retail companies. It owns Bunnings, Kmart, Officeworks and Target, amongst others. Founded as the Westralian Farmers Co-operative in 1914 it became a listed entity in November 1984.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$73.42

22 Jan
2025

0.540

OPEN

$73.15

0.74%

HIGH

$74.37

1,649,335

LOW

$73.00

TARGET
$65.667 -10.6% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALD . PFP .
FNARENA'S MARKET CONSENSUS FORECASTS
WES: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 225.7 237.4 xxx
DPS (cps) xxx 198.0 206.0 xxx
EPS Growth xxx 3.6% 5.2% xxx
DPS Growth xxx 3.7% 4.0% xxx
PE Ratio xxx N/A 30.5 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 87.7% 86.8% xxx

Dividend yield today if purchased 3 years ago: 3.74%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.74

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: 03/09 - ex-div 107c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx225.7
DPS All xxxxxxxxxxxxxxx198.0
Sales/Revenue xxxxxxxxxxxxxxx44,047.0 M
Book Value Per Share xxxxxxxxxxxxxxx756.5
Net Operating Cash Flow xxxxxxxxxxxxxxx4,594.0 M
Net Profit Margin xxxxxxxxxxxxxxx5.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx30.32 %
Return on Invested Capital xxxxxxxxxxxxxxx13.82 %
Return on Assets xxxxxxxxxxxxxxx9.02 %
Return on Equity xxxxxxxxxxxxxxx30.32 %
Return on Total Capital xxxxxxxxxxxxxxx20.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,318.0 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 xxxxxxxxxxxxxxx1,165 M
Long Term Debt xxxxxxxxxxxxxxx10,113 M
Total Debt xxxxxxxxxxxxxxx11,278 M
Goodwill - Gross xxxxxxxxxxxxxxx4,082 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx835 M
Price To Book Value xxxxxxxxxxxxxxx8.62

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,076.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.44 %
Cost of Goods Sold xxxxxxxxxxxxxxx37,267 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,841 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx960 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

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

21/01/2025

4

Lighten

$62.00

-15.55%

Incorporating the Christmas period for Wesfarmers, Ord Minnett updates the earnings forecasts of the company including its retail operations and factors in mark-to-market lithium prices, forex changes, and the sale of Coregas in December.

Christmas trading suggests a "positive" backdrop for Bunnings, Kmart, and Target. The analyst expects Bunnings to benefit from improved trading conditions over the year, with sales forecasts upgraded to 3% from 2% in FY25.

The divestment of Coregas for $770m is forecast to add a pre-tax gain of $230m-$260m, which is expected to reduce debt levels.

The broker tweaks EPS forecasts by -0.2% and -0.5% for FY25 and FY26, respectively.

The Lighten rating is retained due to the perceived "excessive" valuation of the stock at current levels. Target price increases to $62 from $59.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

25/11/2024

3

Neutral

$69.50

-5.34%

Following industry consultations, Goldman Sachs lowers its earnings (EBIT) estimates for Wesfarmers by between -3.3% to -4.4% across FY25-27, reflecting a muted margin profile for Kmart and higher-than-expected other expenses.

The broker highlights strong performances at Bunnings, with continued market share gains in the DIY and trade segments, and future growth opportunities in lithium, health, and retail media.

The broker's target price increases to $69.50 from $66.60, driven by a reduction in the discount rate applied in the analysts' valuation model.

Goldman retains a Neutral rating, citing resilience at Bunnings but acknowledging risks related to margin pressure and platform delivery.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 200.00 cents and EPS of 227.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 224.00 cents and EPS of 255.00 cents.
Access Extra Coverage Research History >

WES STOCK CHART

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