HARVEY NORMAN HOLDINGS LIMITED (HVN)
Share Price Analysis and Chart

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HVN

HVN - HARVEY NORMAN HOLDINGS LIMITED

FNArena Sector : Consumer Electronics
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 2.69
Index: ASX200 | ASX300 | ALL-ORDS

Harvey Norman is a multinational retailer of household products, electronics and consumer electrical goods. The present company formed in 1982 and listed on the ASX in 1987.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.32

07 Sep
2026

0.000

OPEN

$4.34

0.000

HIGH

$4.36

2,420,282

LOW

$4.30

TARGET
$4.542 5.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . JBH .
FNARENA'S MARKET CONSENSUS FORECASTS
HVN: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 42.4 33.1 xxx
DPS (cps) xxx 27.5 26.4 xxx
EPS Growth xxx 2.0% - 22.1% xxx
DPS Growth xxx 3.8% - 3.9% xxx
PE Ratio xxx N/A 13.1 xxx
Dividend Yield xxx N/A 6.1% xxx
Div Pay Ratio(%) xxx 64.8% 80.0% xxx

Dividend yield today if purchased 3 years ago: 6.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.37

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: 01/04 - ex-div 14.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx42.4
DPS All xxxxxxxxxxxxxxx27.5
Sales/Revenue xxxxxxxxxxxxxxx4,313.2 M
Book Value Per Share xxxxxxxxxxxxxxx393.0
Net Operating Cash Flow xxxxxxxxxxxxxxx537.2 M
Net Profit Margin xxxxxxxxxxxxxxx12.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx10.90 %
Return on Invested Capital xxxxxxxxxxxxxxx8.04 %
Return on Assets xxxxxxxxxxxxxxx6.14 %
Return on Equity xxxxxxxxxxxxxxx10.90 %
Return on Total Capital xxxxxxxxxxxxxxx10.66 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx25.4 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx697 M
Long Term Debt xxxxxxxxxxxxxxx1,888 M
Total Debt xxxxxxxxxxxxxxx2,586 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx299 M
Price To Book Value xxxxxxxxxxxxxxx1.23

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx150.5 M
Capex % of Sales xxxxxxxxxxxxxxx3.49 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,295 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,237 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,060 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

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

31/08/2026

3

Neutral

$4.20

-2.78%

Macquarie notes pre-tax profit for FY26 from Harvey Norman was below expectations while early momentum in FY27 suggests sales are softening across key markets.

Housing sentiment remains weak and recent indicators suggest activity will continue to slow, so the broker expects underlying conditions will remain challenging. Offsetting this, the company is expanding its categories such as outdoor furniture/cooking and robotics.

The business is also temporarily benefiting from higher inventory given stock availability issues at its competitor JB Hi-Fi ((JBH)). A second store was added in the UK, indicative of the company's conviction, the broker adds. Neutral retained. Target is reduced to $4.20 from $4.50.

FORECAST
Macquarie forecasts a full year FY27 dividend of 26.70 cents and EPS of 32.00 cents.
Macquarie forecasts a full year FY28 dividend of 30.20 cents and EPS of 36.10 cents.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

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

01/09/2026

3

Downgrade to Neutral from Overweight

$4.50

4.17%

Jarden downgrades to a Neutral rating for Harvey Norman with its target price decreased to $4.50 from following an FY26 result that missed expectations by 2%.

Momentum slowed materially during the second half of the year, with the company losing Australian market share in July before recovering slightly in August.

Jarden notes a mixed outlook, citing optimism for the company's Australian technology exposure but caution regarding its housing market exposure.

The broker remains cautious regarding the ongoing UK expansion, noting slowing like-for-like sales and mounting financial losses.

Earnings before interest and tax forecasts for FY27 through FY29 are downgraded by -7% to -9%, reflecting the challenging outlook despite an increasingly attractive valuation profile.
Access Extra Coverage Research History >

HVN STOCK CHART

FNArena News on HVN

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 04-09-26

Sep 04 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
4
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View
5
Rudi’s View: Pre-August Picks In Resources, Retail & Small Caps

Jul 23 2026 - Rudi's View

Latest Consumer Electronics News

1
Rudi’s View: Small Cap Favourites, AI & More

Jul 16 2026 - Rudi's View
2
Harvey Norman’s Hardly Normal Result

Mar 04 2026 - Australia
3
Rudi’s View: Antipa, Computershare, IPH, Lynas, Macquarie, Rio Tinto & More

Nov 13 2025 - Rudi's View
4
JB Hi-Fi’s Re-Rating Triggers Valuation Dilemma

Aug 13 2025 - Australia
5
Can JB Hi-Fi Maintain Its Strength?

Feb 12 2025 - Australia
6
JB Hi-Fi’s Uptrend Continues

Feb 04 2025 - Technicals
7
Go Harvey Go!

Jan 28 2025 - Technicals
8
A Break-Out Opportunity From JB Hi-Fi

Nov 12 2024 - Technicals
9
In Brief: Retailers That Rock, James Hardie & Infomedia

Nov 08 2024 - Weekly Reports
10
How Big The AI Boost For Harvey Norman?

Sep 03 2024 - Australia