METCASH LIMITED (MTS)
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MTS

MTS - METCASH LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: April
GICS Industry Group : Food & Staples Retailing
Debt/EBITDA: 2.63
Index: ASX200 | ASX300 | ALL-ORDS

Metcash is an Australian conglomerate marketing produce, alcohol, hardware and other consumer goods. Its brands include IGA, Mitre 10 and The Bottle O. Originally founded in 1927 by Joe David, it became a listed entity in 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.83

11 Sep
2026

-0.020

OPEN

$2.84

-0.70%

HIGH

$2.87

2,595,614

LOW

$2.83

TARGET
$3.23 14.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . CKF . COL . DMP . EDV . GYG . ING . LRK . MBH . RFG . SGLLV . SPG . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
MTS: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 25.4 23.3 xxx
DPS (cps) xxx 18.0 17.2 xxx
EPS Growth xxx - 1.7% - 8.5% xxx
DPS Growth xxx 0.0% - 4.3% xxx
PE Ratio xxx N/A 12.3 xxx
Dividend Yield xxx N/A 6.0% xxx
Div Pay Ratio(%) xxx 70.9% 74.1% xxx

Dividend yield today if purchased 3 years ago: 4.84%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.32

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: 14/07 - ex-div 9.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx25.4
DPS All xxxxxxxxxxxxxxx18.0
Sales/Revenue xxxxxxxxxxxxxxx17,354.0 M
Book Value Per Share xxxxxxxxxxxxxxx155.2
Net Operating Cash Flow xxxxxxxxxxxxxxx558.0 M
Net Profit Margin xxxxxxxxxxxxxxx1.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx16.75 %
Return on Invested Capital xxxxxxxxxxxxxxx8.71 %
Return on Assets xxxxxxxxxxxxxxx4.02 %
Return on Equity xxxxxxxxxxxxxxx16.75 %
Return on Total Capital xxxxxxxxxxxxxxx13.02 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx189.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx282 M
Long Term Debt xxxxxxxxxxxxxxx1,619 M
Total Debt xxxxxxxxxxxxxxx1,901 M
Goodwill - Gross xxxxxxxxxxxxxxx2,079 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx67 M
Price To Book Value xxxxxxxxxxxxxxx1.75

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx175.2 M
Capex % of Sales xxxxxxxxxxxxxxx1.01 %
Cost of Goods Sold xxxxxxxxxxxxxxx16,496 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx393 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx158 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

0.4

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

10/09/2026

3

Equal-weight

$3.20

13.07%

Morgan Stanley views the Metcash trading update at the AGM as slightly below consensus and expects modest downward earnings forecast changes post the update.

The analyst notes supermarket growth picked up, which was a positive, but the food and convenience mix is considered adverse and higher cost inflation is expected to impact 1H earnings.

Hardware and tools retained sales momentum while Total Tools saw like-for-like sale growth moderate to 3.8% y/y from 4.9%. Morgan Stanley believes market uncertainty will continue to weigh on the sector.

Equal-weight rating and $3.20 target. Industry View: Cautious.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 18.00 cents and EPS of 24.10 cents.
Morgan Stanley forecasts a full year FY28 EPS of 27.00 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$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

14/09/2026

2

Overweight

$3.30

16.61%

Jarden maintains an Overweight rating for Metcash with its target price decreased to $3.30 from $3.70 following an AGM update revealing improved top-line sales trends offset by margin compression.

Year-to-date sales growth across the hardware and food divisions drove a 1% upward revision to the broker's revenue estimates.

FY27-FY29 earnings per share forecasts are cut by -3%-4% due to rising freight and labour costs alongside a -$10m tobacco excise impact.

The removal of the New Zealand wholesale liquor business from the model further reduced projected group earnings by -$2m.

Jarden considers the current valuation attractive based on a sum-of-the-parts analysis but anticipates limited near-term re-rating catalysts pending further cost reductions or a broader housing market recovery.

FORECAST
Jarden forecasts a full year FY27 dividend of 17.00 cents and EPS of 23.00 cents.
Jarden forecasts a full year FY28 dividend of 18.00 cents and EPS of 24.30 cents.
Access Extra Coverage Research History >

MTS STOCK CHART

FNArena News on MTS

1
Australian Broker Call *Extra* Edition – Sep 14, 2026

10:30 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 11-09-26

10:00 AM - Weekly Reports
3
Rudi’s View: Post-August Stock Picks & Best Buys

Sep 10 2026 - Rudi's View
4
Rudi’s View: Australia Remains Outside The AI Party

Sep 09 2026 - Rudi's View
5
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View

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