JB HI-FI LIMITED (JBH)
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JBH

JBH - JB HI-FI LIMITED

FNArena Sector : Consumer Electronics
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 0.68
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

JB HiFi is an Australian retail chain specialising in consumer electronics and whitegoods. Originally formed in 1974 in Victoria, the company was aquired by private equiry and floated on the ASX in 2003. It acquired The Good Guys in late 2016. JB Hi-Fi is one of the lowest cost operators of its kind globally.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$113.80

11 Sep
2025

-2.640

OPEN

$115.80

-2.27%

HIGH

$116.05

232,263

LOW

$113.69

TARGET
$104.943 -7.8% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . HVN .
FNARENA'S MARKET CONSENSUS FORECASTS
JBH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 423.1 463.5 xxx
DPS (cps) xxx 578.8 357.8 xxx
EPS Growth xxx 5.4% 9.6% xxx
DPS Growth xxx 69.7% - 38.2% xxx
PE Ratio xxx N/A 24.7 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 136.8% 77.2% xxx

Dividend yield today if purchased 3 years ago: 13.60%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.05

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: 22/08 - ex-div 180c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 263.1440.9479.2480.0401.5423.1
DPS All 189.0287.0316.0312.0341.0578.8
Sales/Revenue 7,918.9 M8,916.1 M9,232.0 M9,626.4 M9,592.4 M10,554.8 M
Book Value Per Share 962.51,138.91,171.01,298.41,426.01,478.6
Net Operating Cash Flow 981.3 M558.7 M627.4 M716.4 M752.6 M711.6 M
Net Profit Margin 3.82 %5.68 %5.90 %5.45 %4.57 %4.38 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 28.12 %41.93 %42.10 %38.86 %29.46 %29.12 %
Return on Invested Capital 19.09 %29.29 %31.23 %29.00 %22.39 %22.29 %
Return on Assets 10.60 %15.80 %16.98 %15.76 %12.10 %11.65 %
Return on Equity 28.12 %41.93 %42.10 %38.86 %29.46 %29.12 %
Return on Total Capital 33.20 %42.03 %44.70 %42.25 %33.80 %34.75 %
Free Cash Flow ex dividends 765.9 M190.8 M259.6 M261.7 M379.6 M243.4 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 164 M167 M167 M174 M198 M201 M
Long Term Debt 578 M464 M437 M481 M460 M513 M
Total Debt 742 M631 M604 M655 M657 M714 M
Goodwill - Gross 747 M747 M747 M---
Cash & Equivalents - Generic 252 M263 M126 M177 M318 M284 M
Price To Book Value 4.474.443.283.374.297.46

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 43.1 M57.7 M57.6 M72.0 M74.5 M82.3 M
Capex % of Sales 0.54 %0.65 %0.62 %0.75 %0.78 %0.78 %
Cost of Goods Sold 6,225 M6,939 M7,152 M7,444 M7,452 M8,194 M
Selling, General & Admin. Exp & Other 1,141 M1,181 M1,226 M1,346 M1,415 M1,569 M
Research & Development ------
Investments - Total 0 M0 M0 M0 M0 M0 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

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

12/08/2025

1

Upgrade to Outperform from Neutral

$118.00

3.69%

The highlight of JB Hi-Fi's FY25 result for Macquarie was the special dividend of 100c which beat its 80c estimate. The broker reckons the increase in payout ratio to 70-80% from 65% is a prudent move given cash generation and balance sheet strength.

FY25 result broadly met the broker's forecast and was 1% higher than the consensus. Trading details for 4Q and update for July showed solid growth was maintained after the outsized 8.2% y/y growth in 4Q boosted by Nintendo Switch 2 pre-orders.

The broker lifted medium-term sales forecast to an average 5% growth over the next three years. EPS forecasts lifted by up to 2% over FY26-28.

Target lifted to $118 from $112. Rating upgraded to Outperform from Neutral.

FORECAST
Macquarie forecasts a full year FY26 dividend of 347.00 cents and EPS of 463.00 cents.
Macquarie forecasts a full year FY27 dividend of 369.00 cents and EPS of 492.80 cents.

UBS

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx 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

xx/xx/xxxx

4

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

14/08/2025

3

Neutral

$95.70

-15.91%

After beating expectations with FY25 result, Jarden notes JB Hi-Fi's outlook is brightened by three key tailwinds: replacement demand, interest rate cuts and rising activity in housing.

Other positives includes new game releases, strong forward orders and AI revolution. The broker lifted FY26-28 EPS forecasts by 0.5% following strong FY25 result and sees FY26 risks to the upside.

Neutral. Target rises to $95.70 from $95.50.

FORECAST
Jarden forecasts a full year FY26 dividend of 357.00 cents and EPS of 467.40 cents.
Jarden forecasts a full year FY27 dividend of 382.00 cents and EPS of 499.10 cents.
Access Extra Coverage Research History >

JBH STOCK CHART

FNArena News on JBH

1
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2
Rudi’s View: August Results; Standouts, Turnarounds, Failures & Misfits

Sep 10 2025 - Rudi's View
3
Dicker Data: Asia, SMBs, Margins & AI Megatrend

Sep 05 2025 - Small Caps
4
August In Review: Banks & Golds Drive Rally

Sep 03 2025 - Australia
5
Rudi’s View: Early August Signals & Observations

Aug 20 2025 - Rudi's View

Latest Consumer Electronics News

1
JB Hi-Fi’s Re-Rating Triggers Valuation Dilemma

Aug 13 2025 - Australia
2
Can JB Hi-Fi Maintain Its Strength?

Feb 12 2025 - Australia
3
JB Hi-Fi’s Uptrend Continues

Feb 04 2025 - Technicals
4
Go Harvey Go!

Jan 28 2025 - Technicals
5
A Break-Out Opportunity From JB Hi-Fi

Nov 12 2024 - Technicals
6
In Brief: Retailers That Rock, James Hardie & Infomedia

Nov 08 2024 - Weekly Reports
7
How Big The AI Boost For Harvey Norman?

Sep 03 2024 - Australia
8
In Brief: Gen.Ai & Star Stocks Shine This Week

Aug 16 2024 - Weekly Reports
9
JB Hi-Fi Does It Again

Aug 13 2024 - Australia
10
Treasure Chest: JB Hi-Fi

Jul 23 2024 - Treasure Chest