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: 2.81
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

$5.01

21 Feb
2025

-0.030

OPEN

$5.05

-0.60%

HIGH

$5.07

1,461,376

LOW

$5.01

TARGET
$4.90 -2.2% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . JBH .
FNARENA'S MARKET CONSENSUS FORECASTS
HVN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 28.3 32.5 xxx
DPS (cps) xxx 22.0 25.1 xxx
EPS Growth xxx - 34.7% 14.9% xxx
DPS Growth xxx - 12.0% 14.1% xxx
PE Ratio xxx N/A 15.4 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx 77.8% 77.2% xxx

Dividend yield today if purchased 3 years ago: 4.27%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.39

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: 15/10 - ex-div 12c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx28.3
DPS All xxxxxxxxxxxxxxx22.0
Sales/Revenue xxxxxxxxxxxxxxx3,921.9 M
Book Value Per Share xxxxxxxxxxxxxxx361.3
Net Operating Cash Flow xxxxxxxxxxxxxxx686.5 M
Net Profit Margin xxxxxxxxxxxxxxx8.99 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.89 %
Return on Invested Capital xxxxxxxxxxxxxxx5.45 %
Return on Assets xxxxxxxxxxxxxxx4.52 %
Return on Equity xxxxxxxxxxxxxxx7.89 %
Return on Total Capital xxxxxxxxxxxxxxx9.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx220.3 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 xxxxxxxxxxxxxxx237 M
Long Term Debt xxxxxxxxxxxxxxx2,043 M
Total Debt xxxxxxxxxxxxxxx2,280 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx273 M
Price To Book Value xxxxxxxxxxxxxxx1.15

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx192.2 M
Capex % of Sales xxxxxxxxxxxxxxx4.90 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,097 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,181 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,476 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

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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

28/11/2024

3

Downgrade to Neutral from Buy

$5.00

-0.20%

UBS has downgraded Harvey Norman shares to Neutral from Buy with an unchanged target price of $5. While the performance of franchisees has improved, the broker highlights competitors have been outperforming.

Plus Retail New Zealand remains challenged.

The broker sees a subdued outlook for revenues and this triggers a more cautious stance, as the prospect for significant margin expansion has reduced.

The shares have outperformed year-to-date, UBS highlights.

FORECAST
UBS forecasts a full year FY25 dividend of 21.00 cents and EPS of 32.00 cents.
UBS forecasts a full year FY26 dividend of 23.00 cents and EPS of 36.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

12/11/2024

5

Downgrade to Sell from Neutral

$4.00

-20.16%

Goldman Sachs has downgraded Harvey Norman to Sell from Neutral, reducing the target price to $4.00 from $4.50 ahead of the company's trading update.

The downgrade is based on the broker's expectations of market share losses in A&NZ due to increased competition from JB Hi-Fi ((JBH)) and Officeworks ((WES)), as well as lower anticipated earnings.

The broker's forecast earnings sit below consensus estimates by -8% to -13% for FY25 to FY27.

Goldman Sachs has revised valuation multiples down for A&NZ franchises and raised the cap rate for property valuation to 6.25%, citing a challenging macro environment.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 25.00 cents and EPS of 30.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 26.00 cents and EPS of 32.00 cents.
Access Extra Coverage Research History >

HVN STOCK CHART

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Latest Consumer Electronics News

1
Can JB Hi-Fi Maintain Its Strength?

Feb 12 2025 - Australia
2
JB Hi-Fi’s Uptrend Continues

Feb 04 2025 - Technicals
3
Go Harvey Go!

Jan 28 2025 - Technicals
4
A Break-Out Opportunity From JB Hi-Fi

Nov 12 2024 - Technicals
5
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Nov 08 2024 - Weekly Reports
6
How Big The AI Boost For Harvey Norman?

Sep 03 2024 - Australia
7
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Aug 16 2024 - Weekly Reports
8
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Aug 13 2024 - Australia
9
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Jul 23 2024 - Treasure Chest
10
JB Hi-Fi: How Resilient To Spending Slowdown?

Aug 18 2022 - Australia