JB HI-FI LIMITED (JBH)
Share Price Analysis and Chart

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JBH

JBH - JB HI-FI LIMITED

FNArena Sector : Consumer Electronics
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 0.68
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

JB HiFi is an Australian retail chain specialising in consumer electronics and whitegoods. Originally formed in 1974 in Victoria, the company was aquired by private equiry and floated on the ASX in 2003. It acquired The Good Guys in late 2016. JB Hi-Fi is one of the lowest cost operators of its kind globally.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$92.00

20 Feb
2025

-4.000

OPEN

$93.10

-4.17%

HIGH

$93.73

539,608

LOW

$91.93

TARGET
$94.314 2.5% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . HVN .
FNARENA'S MARKET CONSENSUS FORECASTS
JBH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 401.5 429.7 xxx
DPS (cps) xxx 341.0 306.9 xxx
EPS Growth xxx - 16.4% 7.0% xxx
DPS Growth xxx 9.3% - 10.0% xxx
PE Ratio xxx N/A 21.3 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx 84.9% 71.4% xxx

Dividend yield today if purchased 3 years ago: 6.44%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.72

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: 22/08 - ex-div 180c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx401.5
DPS All xxxxxxxxxxxxxxx341.0
Sales/Revenue xxxxxxxxxxxxxxx9,592.4 M
Book Value Per Share xxxxxxxxxxxxxxx1,426.0
Net Operating Cash Flow xxxxxxxxxxxxxxx752.6 M
Net Profit Margin xxxxxxxxxxxxxxx4.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx29.46 %
Return on Invested Capital xxxxxxxxxxxxxxx22.39 %
Return on Assets xxxxxxxxxxxxxxx12.10 %
Return on Equity xxxxxxxxxxxxxxx29.46 %
Return on Total Capital xxxxxxxxxxxxxxx33.80 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx379.6 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 xxxxxxxxxxxxxxx198 M
Long Term Debt xxxxxxxxxxxxxxx460 M
Total Debt xxxxxxxxxxxxxxx657 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx318 M
Price To Book Value xxxxxxxxxxxxxxx4.29

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx74.5 M
Capex % of Sales xxxxxxxxxxxxxxx0.78 %
Cost of Goods Sold xxxxxxxxxxxxxxx7,452 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,415 M
Research & Development xxxxxxxxxxxxxxx-
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

0.0

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

11/02/2025

1

Buy

$110.00

19.57%

Citi notes JB Hi-Fi's 1H25 is earnings before interest and tax came in above the consensus estimate by 3% but below the broker's top-of-the-market forecast by -4%.

Sales generated were above Citi's estimate by 1%, although Australian gross margins were lower than anticipated. The broker highlights a robust performance from The Good Guys, with like-for-like sales up 11.9% against the broker's forecast of 5%.

Management's robust cost control offset increased competitive actions and pressure on JB Hi-Fi Australia's gross margin, which declined by -17bps versus the analyst's forecast of up 20bps.

Like-for-like sales in January rose 7.1%, with The Good Guys up 5.9%. On balance, concerns over a weaker gross margin are expected to be countered by a strong start to 2H25.

Citi lowers earnings forecasts by -2% to -3% for FY25 to FY27 on the back of lower gross margins at JB Hi-Fi Australia and The Good Guys, with higher sales slightly offsetting the impact.

Buy rated with a $110 target price.

FORECAST
Citi forecasts a full year FY25 dividend of 372.00 cents and EPS of 433.70 cents.
Citi forecasts a full year FY26 dividend of 405.00 cents and EPS of 478.20 cents.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxxxxx

$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

Goldman Sachs

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

12/02/2025

3

Neutral

$95.80

4.13%

Jarden describes JB Hi-Fi's 1H25 update as another high-quality result, characterised by market share gains, cost control and gross margin decline.

The result was 7% ahead of Jarden's forecasts, leading to a 3-6% upgrade in FY25-27 EPS estimates that reflected the beat and strong 2H25 trading update.

The broker believes there is a clear focus on value, with around 26 references to competition ⁄ discounting on the call, more than twice the average of the past 10 result calls. 

This was attributed to consumers actively seeking floor discounts and is likely to see further pressure on margins into 2H25, Jarden notes.

Target price rises to $95.8 from $84.0. Neutral rating maintained, with the broker reiterating a preference for Harvey Norman ((HVN)), Flight Centre ((FLT)), Domino's Pizza ((DMP)) and Treasury Wine Estates ((TWE)) across consumer stocks.

FORECAST
Jarden forecasts a full year FY25 dividend of 277.00 cents and EPS of 426.20 cents.
Jarden forecasts a full year FY26 dividend of 304.00 cents and EPS of 467.10 cents.
Access Extra Coverage Research History >

JBH STOCK CHART

FNArena News on JBH

1
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
2
Rudi’s View: More Beats In Early Feb Results

Feb 19 2025 - Rudi's View
3
Weekly Ratings, Targets, Forecast Changes – 14-02-25

Feb 17 2025 - Weekly Reports
4
Rudi’s View: BHP, Capstone Copper, NextDC, WiseTech & Woodside

Feb 13 2025 - Rudi's View
5
Rudi’s View: Hope Trumps Uncertainties

Feb 12 2025 - Rudi's View

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
In Brief: Retailers That Rock, James Hardie & Infomedia

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

Sep 03 2024 - Australia
7
In Brief: Gen.Ai & Star Stocks Shine This Week

Aug 16 2024 - Weekly Reports
8
JB Hi-Fi Does It Again

Aug 13 2024 - Australia
9
Treasure Chest: JB Hi-Fi

Jul 23 2024 - Treasure Chest
10
JB Hi-Fi: How Resilient To Spending Slowdown?

Aug 18 2022 - Australia