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

$80.59

08 Dec
2025

-0.570

OPEN

$80.66

-0.70%

HIGH

$80.86

822,328

LOW

$79.89

TARGET
$86.633 7.5% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALD . PFP .
FNARENA'S MARKET CONSENSUS FORECASTS
WES: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 258.0 249.4 xxx
DPS (cps) xxx 356.0 251.0 xxx
EPS Growth xxx 14.3% - 3.3% xxx
DPS Growth xxx 79.8% - 29.5% xxx
PE Ratio xxx N/A 32.3 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 138.0% 100.6% xxx

Dividend yield today if purchased 3 years ago: 7.43%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.39

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 150.0210.4207.8217.8225.7258.0
DPS All 170.0378.0180.0191.0198.0356.0
Sales/Revenue 30,753.0 M33,797.0 M36,679.0 M43,417.0 M44,047.0 M45,576.0 M
Book Value Per Share 824.1856.8703.7729.9756.5809.6
Net Operating Cash Flow 4,546.0 M3,383.0 M2,301.0 M4,179.0 M4,594.0 M4,568.0 M
Net Profit Margin 5.27 %7.04 %6.41 %5.68 %5.81 %6.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 16.80 %24.98 %26.58 %30.32 %30.32 %32.92 %
Return on Invested Capital 10.68 %13.35 %13.10 %13.59 %13.82 %15.44 %
Return on Assets 7.22 %9.00 %8.57 %8.94 %9.02 %9.78 %
Return on Equity 16.80 %24.98 %26.58 %30.32 %30.32 %32.92 %
Return on Total Capital 16.71 %18.49 %16.86 %19.37 %20.04 %19.03 %
Free Cash Flow ex dividends 1,945.0 M435.0 M-766.0 M759.0 M1,318.0 M1,130.0 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 1,522 M1,919 M2,088 M1,135 M1,165 M1,149 M
Long Term Debt 8,376 M8,208 M9,993 M10,034 M10,113 M10,019 M
Total Debt 9,898 M10,127 M12,081 M11,169 M11,278 M11,168 M
Goodwill - Gross 3,459 M3,461 M3,785 M3,846 M4,082 M3,790 M
Cash & Equivalents - Generic 2,913 M3,023 M705 M673 M835 M638 M
Price To Book Value 5.446.905.966.768.6210.47

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 867.0 M874.0 M1,140.0 M1,288.0 M1,076.0 M1,147.0 M
Capex % of Sales 2.82 %2.59 %3.11 %2.97 %2.44 %2.52 %
Cost of Goods Sold 25,825 M27,886 M30,853 M36,939 M37,267 M38,614 M
Selling, General & Admin. Exp & Other 2,234 M2,297 M2,462 M2,652 M2,841 M3,135 M
Research & Development ------
Investments - Total 2,219 M2,181 M1,619 M985 M960 M1,209 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

-0.1

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

30/10/2025

3

Neutral

$90.00

11.68%

In a quick response to Wesfarmers' AGM trading update, Citi suggests today's update indicates both Bunnings and Kmart are performing in line with the update provided in August.

Officeworks has seen sales momentum continue, though a reset of this business will see EBIT in 1H26 to be down -$15-$25m on the previous period last year.

No major changes are anticipated in consensus forecasts.

Neutral. Target $90.

FORECAST
Citi forecasts a full year FY26 dividend of 222.00 cents and EPS of 246.20 cents.
Citi forecasts a full year FY27 dividend of 237.00 cents and EPS of 262.30 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

30/10/2025

4

Underweight

$70.50

-12.52%

Wesfarmers’ AGM update was slightly softer, with sales broadly in line but cost pressures and Officeworks restructuring leading to modest downgrades in earnings estimates for Jarden.

Officeworks now expects around a -20% decline in segment earnings (EBIT), reflecting -$15 to –$25m in combined restructuring and trading headwinds. Bunnings’ sales are tracking ahead of last half, led by the consumer segment, while Kmart and Health divisions are performing in line with trends.

The analyst lowers its EPS forecasts by 1–2% for FY26–28, mainly due to Officeworks and weaker industrials trading, partly offset by strength in Health.

Jarden retains an Underweight rating, citing valuation concerns and limited near-term catalysts, with the next phase of growth likely to require more capital-intensive investment. Target price falls to $70.50 from $73.40.

FORECAST
Jarden forecasts a full year FY26 dividend of 374.00 cents and EPS of 253.70 cents.
Jarden forecasts a full year FY27 dividend of 248.00 cents and EPS of 282.90 cents.
Access Extra Coverage Research History >

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