ADAIRS LIMITED (ADH)
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ADH

ADH - ADAIRS LIMITED

FNArena Sector : Furniture & Renovation
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 2.51
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.635

04 Mar
2026

-0.065

OPEN

$1.68

-3.82%

HIGH

$1.71

1,544,462

LOW

$1.64

TARGET
$2.338 43.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BLX . GWA . HVN . JBH . JYC . NCK . REH . TPW .
FNARENA'S MARKET CONSENSUS FORECASTS
ADH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 14.6 19.3 xxx
DPS (cps) xxx 10.5 10.6 xxx
EPS Growth xxx - 18.5% 32.1% xxx
DPS Growth xxx - 12.5% 0.7% xxx
PE Ratio xxx N/A 8.8 xxx
Dividend Yield xxx N/A 6.3% xxx
Div Pay Ratio(%) xxx 71.9% 54.8% xxx

Dividend yield today if purchased 3 years ago: 4.47%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.21

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: 10/09 - ex-div 4.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx14.6
DPS All xxxxxxxxxxxxxxx10.5
Sales/Revenue xxxxxxxxxxxxxxx618.1 M
Book Value Per Share xxxxxxxxxxxxxxx127.4
Net Operating Cash Flow xxxxxxxxxxxxxxx78.7 M
Net Profit Margin xxxxxxxxxxxxxxx4.16 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.46 %
Return on Invested Capital xxxxxxxxxxxxxxx5.51 %
Return on Assets xxxxxxxxxxxxxxx4.06 %
Return on Equity xxxxxxxxxxxxxxx11.46 %
Return on Total Capital xxxxxxxxxxxxxxx11.64 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx45.5 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 xxxxxxxxxxxxxxx52 M
Long Term Debt xxxxxxxxxxxxxxx260 M
Total Debt xxxxxxxxxxxxxxx312 M
Goodwill - Gross xxxxxxxxxxxxxxx179 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx8 M
Price To Book Value xxxxxxxxxxxxxxx1.66

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx13.5 M
Capex % of Sales xxxxxxxxxxxxxxx2.18 %
Cost of Goods Sold xxxxxxxxxxxxxxx506 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx52 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx0 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

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

24/02/2026

3

Neutral

$2.15

31.50%

Further to the first half result from Adairs, UBS highlights improved operating performance in the second quarter and the reported share gains.

While strong sales in highly promotional areas softened first half gross margins, the outlook is improving into the second half, UBS asserts.

Sales momentum is expected to slow slightly in the first seven weeks into fourth quarter cycling clearance activity. Mocka delivered a strong result with gross margins ahead of guidance, although the focus on furniture remains challenging because of competition and higher interest rates, commentary suggests.

Neutral retained. Target rises to $2.15 from $2.05.

FORECAST
UBS forecasts a full year FY26 dividend of 10.00 cents and EPS of 19.00 cents.
UBS forecasts a full year FY27 dividend of 16.00 cents and EPS of 25.00 cents.

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

03/03/2026

2

Downgrade to Overweight from Buy

$2.30

40.67%

Jarden notes Adairs provided two pieces of news in its first half results that imply 5-6% consensus EBIT upgrades for FY26 and further upside in FY27.

These include second half sales in the year to date that are up 6% despite tough comparables and commentary on gross margin and FX benefits.

First half trading was "solid" and revenue in line. The broker downgrades to Overweight from Buy given the macro risks and the balance sheet position relative to ASX retail peers. Target is lowered to $2.30 from $2.68.

FORECAST
Jarden forecasts a full year FY26 dividend of 11.20 cents and EPS of 21.10 cents.
Jarden forecasts a full year FY27 dividend of 15.40 cents and EPS of 23.60 cents.
Access Extra Coverage Research History >

ADH STOCK CHART

FNArena News on ADH

1
Australian Broker Call *Extra* Edition – Mar 03, 2026

Mar 03 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 24-02-2026

Feb 24 2026 - Australia
3
Rudi’s View: February Favourites & Avoids

Jan 29 2026 - Rudi's View
4
Rudi’s View: Pre-February Top Picks & Favourites

Jan 15 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Dec 10, 2025

Dec 10 2025 - Daily Market Reports

Latest Furniture & Renovation News

1
Strong Momentum Underpins Nick Scali’s FY26

Aug 12 2025 - Australia
2
Reece Battling Tariffs, Competition & Cost Crises

Jul 01 2025 - Australia
3
New Broom Clearing The Decks For Adairs

Jun 25 2025 - Small Caps
4
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
5
Temple & Webster Embraces The Future

Feb 20 2025 - Small Caps
6
Nick Scali’s Transitory Freight Headwind

Oct 24 2024 - Small Caps
7
Temple & Webster Spends Up For A Bigger Share

Aug 18 2023 - Small Caps
8
Too Harsh On Temple & Webster?

Feb 15 2023 - Australia
9
Nick Scali Worth Watching

Dec 20 2022 - Technicals
10
Treasure Chest: Temple & Webster

Nov 23 2022 - Treasure Chest