ADAIRS LIMITED (ADH)
Share Price Analysis and Chart

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ADH

ADH - ADAIRS LIMITED

FNArena Sector : Furniture & Renovation
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 2.19
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.26

05 Mar
2025

-0.020

OPEN

$2.30

-0.88%

HIGH

$2.30

492,259

LOW

$2.23

TARGET
$2.688 18.9% 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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 17.9 21.2 xxx
DPS (cps) xxx 12.0 13.3 xxx
EPS Growth xxx - 18.4% 18.2% xxx
DPS Growth xxx 50.0% 10.4% xxx
PE Ratio xxx N/A 10.6 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 66.9% 62.5% xxx

Dividend yield today if purchased 3 years ago: 4.33%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.33

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: 11/09 - ex-div 7c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx17.9
DPS All xxxxxxxxxxxxxxx12.0
Sales/Revenue xxxxxxxxxxxxxxx594.4 M
Book Value Per Share xxxxxxxxxxxxxxx127.8
Net Operating Cash Flow xxxxxxxxxxxxxxx93.7 M
Net Profit Margin xxxxxxxxxxxxxxx5.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx14.62 %
Return on Invested Capital xxxxxxxxxxxxxxx7.07 %
Return on Assets xxxxxxxxxxxxxxx5.15 %
Return on Equity xxxxxxxxxxxxxxx14.62 %
Return on Total Capital xxxxxxxxxxxxxxx13.41 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx58.7 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx53 M
Long Term Debt xxxxxxxxxxxxxxx223 M
Total Debt xxxxxxxxxxxxxxx276 M
Goodwill - Gross xxxxxxxxxxxxxxx179 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx13 M
Price To Book Value xxxxxxxxxxxxxxx1.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx27.4 M
Capex % of Sales xxxxxxxxxxxxxxx4.61 %
Cost of Goods Sold xxxxxxxxxxxxxxx481 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx48 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

0.5

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

25/02/2025

3

Hold

$2.70

19.47%

Adairs reported 1H25 underlying NPAT of $19.8m, up 4.4% on the prior year and in line with Ord Minnett's forecasts, but below consensus.

Total sales advanced 2.7% to $310.5m, with Adairs up 4.8%, Mocka up 8.3%, and Focus down -6.4%. Comparable store sales grew 6.6%, the broker notes.

Sales momentum has improved in Adairs and Mocka Australia, though Focus and Mocka NZ remain challenged, the analyst explains. Margins are under pressure from FX, inflation, and promotions.

Group sales are up 9.2% for the first seven weeks of 2H25, led by Adairs at 15.2%, while Focus declined -5.4%.

Earnings forecasts are lowered by -3 to -6% over the next three years. Target rises to $2.70 from $2.50. Hold retained.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 14.00 cents and EPS of 21.80 cents.
Ord Minnett forecasts a full year FY26 dividend of 17.00 cents and EPS of 25.00 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

03/03/2025

1

Buy

$3.25

43.81%

Canaccord Genuity considers the negative reaction following Adairs' result to be somewhat overblown, noting progress on the Adairs brand turnaround has come on in leaps and bounds over 2024 and strong momentum is evident moving into 2025.

While the broker acknowledges pressures on the Focus on Furniture business is a near-term headwind, this isn’t new news and there is potential that an improving consumer outlook may provide some pressure release.

With a fairly fixed cost base, the extent of any top-line recovery will determine the meaningfulness of Canaccord's more constructive view and recommendation. Target rises to $3.25 from $2.80, Buy retained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 13.00 cents and EPS of 21.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 17.00 cents and EPS of 26.00 cents.

Wilsons

xx/xx/xxxx

3

xxxxxx xxxxxx

$xx.xx

xx.xx%

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ADH STOCK CHART

FNArena News on ADH

1
Australian Broker Call *Extra* Edition – Mar 04, 2025

Mar 04 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Mar 03, 2025

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Feb 25 2025 - Australia
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Nov 25 2024 - Weekly Reports

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