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: 2.7
Index: ASX100 | 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

$3.94

16 Sep
2025

0.010

OPEN

$3.93

0.25%

HIGH

$3.97

1,961,367

LOW

$3.93

TARGET
$4.15 5.3% 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 . TSI . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
MTS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 25.9 25.8 xxx
DPS (cps) xxx 18.0 18.7 xxx
EPS Growth xxx 0.2% - 0.2% xxx
DPS Growth xxx - 7.7% 4.1% xxx
PE Ratio xxx N/A 15.2 xxx
Dividend Yield xxx N/A 4.8% xxx
Div Pay Ratio(%) xxx 69.6% 72.6% xxx

Dividend yield today if purchased 3 years ago: 4.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.60

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: 13/12 - ex-div 8.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx25.9
DPS All xxxxxxxxxxxxxxx18.0
Sales/Revenue xxxxxxxxxxxxxxx17,323.0 M
Book Value Per Share xxxxxxxxxxxxxxx148.0
Net Operating Cash Flow xxxxxxxxxxxxxxx539.0 M
Net Profit Margin xxxxxxxxxxxxxxx1.64 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx18.03 %
Return on Invested Capital xxxxxxxxxxxxxxx9.77 %
Return on Assets xxxxxxxxxxxxxxx4.47 %
Return on Equity xxxxxxxxxxxxxxx18.03 %
Return on Total Capital xxxxxxxxxxxxxxx14.24 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx229.0 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 xxxxxxxxxxxxxxx431 M
Long Term Debt xxxxxxxxxxxxxxx1,460 M
Total Debt xxxxxxxxxxxxxxx1,891 M
Goodwill - Gross xxxxxxxxxxxxxxx2,024 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx85 M
Price To Book Value xxxxxxxxxxxxxxx2.18

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx148.5 M
Capex % of Sales xxxxxxxxxxxxxxx0.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx16,482 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx381 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx151 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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

11/09/2025

1

Buy

$4.60

16.75%

In a trading update alongside FY25 AGM, Metcash announced group sales (ex-tobacco) rose 1.1% y/y in the 18 weeks to August, a run-rate pointing to a miss to expectations for 1H26 revenue growth of 1.7%.

Sales in dominant supermarkets rose 2.4% vs 2.9% growth for the first seven weeks reported by Woolworths Group ((WOW)) and Coles Group ((COL)), Ord Minnett notes. In the case of tobacco, the pace of decline accelerated.

Outcomes in the smaller divisions were mixed, the broker highlights, with improvements in Superior Foods and IHG but slowing in the Total Tools and Liquor businesses. 

No change to forecast. Buy. Target unchanged at $4.60.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$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

16/09/2025

2

Overweight

$4.00

1.52%

Metcash's AGM update revealed year-to-date sales up around 1%, with tobacco down -32% on the prior year and hardware up 1.85%. Jarden considers the overall update as "soft" and broadly meeting expectations.

Overheads lifted around $7m higher with mid-low single-digit earnings (EBIT) downgrades.

Jarden lowers its net profit after tax forecasts by circa -2% to -5% for FY26-FY28 on lower tobacco sales and higher overhead costs, and EPS is anticipated to compound at an average rate of 8% for FY26 to FY29 with around a 4.5% dividend yield.

Overweight. Target price slips to $4 from $4.10.

FORECAST
Jarden forecasts a full year FY26 dividend of 18.00 cents and EPS of 25.00 cents.
Jarden forecasts a full year FY27 dividend of 21.00 cents and EPS of 29.00 cents.
Access Extra Coverage Research History >

MTS STOCK CHART

FNArena News on MTS

1
Australian Broker Call *Extra* Edition – Sep 16, 2025

Sep 16 2025 - Daily Market Reports
2
Hardware Horizon Brightens For Metcash

Sep 12 2025 - Australia
3
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Latest Food, Beverages & Tobacco News

1
Hardware Horizon Brightens For Metcash

Sep 12 2025 - Australia
2
Coles Does It Better, Woolworths De-Rated

Sep 08 2025 - Feature Stories
3
Treasury’s Transition Turbulence

Jun 26 2025 - Australia
4
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Jun 25 2025 - Small Caps
5
Metcash Outlook: Tobacco Sales vs Rate Cuts

Jun 24 2025 - Australia
6
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Jun 11 2025 - Australia
7
Compare The Pair: Woolworths Versus Coles

May 07 2025 - Feature Stories
8
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Apr 24 2025 - Weekly Reports
9
Collins Foods’ New European Mix

Apr 24 2025 - Australia
10
Momentum Ongoing For Guzman y Gomez

Apr 11 2025 - Small Caps