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: 2.51
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.64

17 Sep
2025

-0.030

OPEN

$2.65

-1.12%

HIGH

$2.65

185,265

LOW

$2.60

TARGET
$2.688 1.8% 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 21.5 xxx
DPS (cps) xxx 10.5 12.1 xxx
EPS Growth xxx - 18.5% 47.0% xxx
DPS Growth xxx - 12.5% 15.0% xxx
PE Ratio xxx N/A 12.8 xxx
Dividend Yield xxx N/A 4.4% xxx
Div Pay Ratio(%) xxx 71.9% 56.2% xxx

Dividend yield today if purchased 3 years ago: 5.74%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.83

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 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

0.1

No. Of Recommendations

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

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

28/08/2025

3

Neutral

$2.55

-3.41%

UBS maintains Neutral and lifts the 12-month target to $2.55 from $2.25 after a net-positive trading update and a DCF roll-forward.

FY25 landed broadly in line with forecasts. Management has guided 1H26 sales and gross margins roughly in line with UBS estimates before margins recover in 2H26 as clearance activity ends.

UBS expects Adairs’ product margins to reach circa 62% in 2H26 (circa 61% in 1H26) with FY26 EBIT margin above 9%, while Focus and Mocka trends improve; a -$25–30m ERP program over FY26–28 introduces execution risk.

Forecasts rise, with EPS now 22c/25c/27c for 2026-28; UBS sees risk/reward as balanced near circa 11x PE ahead of a “Vision 2030” strategy day in 2H26.

FORECAST
UBS forecasts a full year FY26 dividend of 14.00 cents and EPS of 22.00 cents.
UBS forecasts a full year FY27 dividend of 16.00 cents and EPS of 25.00 cents.

Ord Minnett

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

04/09/2025

1

Upgrade to Buy from Overweight

$2.96

12.12%

Adairs' FY25 EBIT of $55.2m came inside the guidance range, Jarden highlights, with EBIT for the Adairs brand at the top end, and Focus and Mocka at the middle of the range. Gross margin was up 70bps to 46.8% but missed the consensus.

Trading for the first seven weeks of FY26 was strong, with group sales up 22.6% y/y vs 5% consensus, and within that, Adairs and Mocka outperformed.

The broker sees upside risk from Mocka standalone concept via increasing addressable share of the furniture market, and notes Focus is making progress with cost reductions and refurbished stores.

FY26-28 revenue forecasts lifted by 4-8%, and EBITDA estimates increase by 8-17%.

Target rises to $2.96 from $2.07. Rating upgraded to Buy from Overweight.

FORECAST
Jarden forecasts a full year FY26 EPS of 23.00 cents.
Jarden forecasts a full year FY27 EPS of 27.60 cents.
Access Extra Coverage Research History >

ADH STOCK CHART

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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
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Too Harsh On Temple & Webster?

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