WESFARMERS LIMITED (WES)
Share Price Analysis and Chart

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WES

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

$86.13

30 Oct
2025

-6.530

OPEN

$90.38

-7.05%

HIGH

$91.00

2,659,385

LOW

$86.13

TARGET
$86.617

-0.50 change from previous day

 0.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALD . MPA . PFP .
FNARENA'S MARKET CONSENSUS FORECASTS
WES: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 258.0 250.4 xxx
DPS (cps) xxx 356.0 245.2 xxx
EPS Growth xxx 14.3% - 2.9% xxx
DPS Growth xxx 79.8% - 31.1% xxx
PE Ratio xxx N/A 33.5 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 138.0% 97.9% xxx

Dividend yield today if purchased 3 years ago: 7.72%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.24

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx258.0
DPS All xxxxxxxxxxxxxxx356.0
Sales/Revenue xxxxxxxxxxxxxxx45,576.0 M
Book Value Per Share xxxxxxxxxxxxxxx809.6
Net Operating Cash Flow xxxxxxxxxxxxxxx4,568.0 M
Net Profit Margin xxxxxxxxxxxxxxx6.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx32.92 %
Return on Invested Capital xxxxxxxxxxxxxxx15.44 %
Return on Assets xxxxxxxxxxxxxxx9.78 %
Return on Equity xxxxxxxxxxxxxxx32.92 %
Return on Total Capital xxxxxxxxxxxxxxx19.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,130.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1,149 M
Long Term Debt xxxxxxxxxxxxxxx10,019 M
Total Debt xxxxxxxxxxxxxxx11,168 M
Goodwill - Gross xxxxxxxxxxxxxxx3,790 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx638 M
Price To Book Value xxxxxxxxxxxxxxx10.47

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,147.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.52 %
Cost of Goods Sold xxxxxxxxxxxxxxx38,614 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3,135 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,209 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

-0.2

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

16/09/2025

3

Upgrade to Equal-weight from Underweight

$93.50

8.56%

Morgan Stanley notes the macro tailwinds in Australia have aligned to support discretionary spending, benefiting consumer stocks. Further RBA rate cuts, rising house prices, a low unemployment rate and improved disposable income are all supportive.

The broker sees upside risk to sales growth over the next six months, with risk likely in early 2026, should expectations for RBA cut in February be pushed out. November cut is seen more likely than not.

Rating for Wesfarmers upgraded to Equal-weight from Underweight to reflect improved outlook for Bunnings and Kmart. The broker reckons margin expansion is capped by the elevated cost of doing business.

Target rises to $93.50 from $70.70. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 222.00 cents and EPS of 251.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 248.00 cents and EPS of 281.00 cents.

Morgans

xx/xx/xxxx

4

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

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

04/09/2025

4

Underweight

$73.40

-14.78%

Wesfarmers' FY25 revenue was up 3% y/y and 1% ahead of Jarden's forecast. EBITDA and net profit also beat by 1%, and final dividend of $1.11 was higher than the broker's $1.09 forecast.

While the result was a good one, the broker believes growth is still benign ex-Kmart, with near-term returns mostly cycle-driven on support from lower rates. Longer-term growth requires investment but management is cautious on accelerating spend.

Modest revisions made to FY26 forecasts but with no net impact on net profit. Modest margin expansion is expected for Bunnings while Kmart's margin is expected to decline. 

Underweight. Target rises to $73.40 from $73.10.

FORECAST
Jarden forecasts a full year FY26 dividend of 341.00 cents and EPS of 216.40 cents.
Jarden forecasts a full year FY27 dividend of 210.00 cents and EPS of 238.90 cents.
Access Extra Coverage Research History >

WES STOCK CHART

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