NICK SCALI LIMITED (NCK)
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NCK

NCK - NICK SCALI LIMITED

FNArena Sector : Furniture & Renovation
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 1.85
Index: ASX300 | ALL-ORDS

Nick Scali is an Australian importer and retailer of household furniture through a chain of stores across Australia. Founded in 1962 the company listed on the ASX in 2004. Core brands include Nick Scali Furniture, Nick Scali Online, Sofas2Go and Plush.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.41

24 Mar
2025

-0.340

OPEN

$16.70

-2.03%

HIGH

$16.85

211,053

LOW

$16.32

TARGET
$18.347 11.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADH . BLX . GWA . HVN . JBH . JYC . REH . TPW .
FNARENA'S MARKET CONSENSUS FORECASTS
NCK: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 98.7 72.3 xxx
DPS (cps) xxx 68.0 57.1 xxx
EPS Growth xxx - 20.9% - 26.8% xxx
DPS Growth xxx - 9.3% - 16.1% xxx
PE Ratio xxx N/A 22.7 xxx
Dividend Yield xxx N/A 3.5% xxx
Div Pay Ratio(%) xxx 68.9% 78.9% xxx

Dividend yield today if purchased 3 years ago: 6.07%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.06

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: 25/09 - ex-div 33c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx98.7
DPS All xxxxxxxxxxxxxxx68.0
Sales/Revenue xxxxxxxxxxxxxxx468.2 M
Book Value Per Share xxxxxxxxxxxxxxx302.4
Net Operating Cash Flow xxxxxxxxxxxxxxx126.7 M
Net Profit Margin xxxxxxxxxxxxxxx17.22 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx36.84 %
Return on Invested Capital xxxxxxxxxxxxxxx16.15 %
Return on Assets xxxxxxxxxxxxxxx12.28 %
Return on Equity xxxxxxxxxxxxxxx36.84 %
Return on Total Capital xxxxxxxxxxxxxxx23.71 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx42.1 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 xxxxxxxxxxxxxxx40 M
Long Term Debt xxxxxxxxxxxxxxx280 M
Total Debt xxxxxxxxxxxxxxx320 M
Goodwill - Gross xxxxxxxxxxxxxxx118 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx111 M
Price To Book Value xxxxxxxxxxxxxxx4.57

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx28.5 M
Capex % of Sales xxxxxxxxxxxxxxx6.08 %
Cost of Goods Sold xxxxxxxxxxxxxxx279 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx61 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

10/02/2025

1

Outperform

$19.90

21.27%

Macquarie notes Nick Scali's gross margin percentage exceeded the broker's forecast by 110bps despite higher freight rates in the first half and a challenging trading environment.

Underlying profit beat management’s guidance by 28% at the mid-point.

The broker expects further UK margin upside in the 57-59% range once Nick Scali products are delivered to UK stores and highlights significant store rollout opportunities in A&NZ and the UK.

Macquarie raises the target price to $19.90 from $15.60 and maintains an Outperform rating.

FORECAST
Macquarie forecasts a full year FY25 dividend of 54.10 cents and EPS of 73.90 cents.
Macquarie forecasts a full year FY26 dividend of 66.20 cents and EPS of 86.30 cents.

Ord Minnett

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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

25/10/2024

1

Overweight

$17.30

5.42%

Wilsons describes a "mixed" AGM trading update by Nick Scali. The broker's target falls by -10 cents to $17.30. Overweight.

The gross margin will be “down around -240bps or more”, stated management, due to increased freight rates, resulting in lower A&NZ profit guidance of between $30-33m.

On the other hand, the broker highlights an improvement in the A&NZ wholesale order (WSO) trajectory in August and September, and an improving UK gross margin on very little volume at this early stage.

FORECAST
Wilsons forecasts a full year FY25 dividend of 50.20 cents and EPS of 74.10 cents.
Wilsons forecasts a full year FY26 dividend of 69.20 cents and EPS of 98.90 cents.
Access Extra Coverage Research History >

NCK STOCK CHART

FNArena News on NCK

1
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
2
Rudi’s View: Post February Conviction Calls

Mar 13 2025 - Rudi's View
3
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
4
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
5
Rudi’s View: More Beats In Early Feb Results

Feb 19 2025 - Rudi's View

Latest Furniture & Renovation News

1
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
2
Temple & Webster Embraces The Future

Feb 20 2025 - Small Caps
3
Nick Scali’s Transitory Freight Headwind

Oct 24 2024 - Small Caps
4
Temple & Webster Spends Up For A Bigger Share

Aug 18 2023 - Small Caps
5
Too Harsh On Temple & Webster?

Feb 15 2023 - Australia
6
Nick Scali Worth Watching

Dec 20 2022 - Technicals
7
Treasure Chest: Temple & Webster

Nov 23 2022 - Treasure Chest
8
Temple & Webster Outperforming Peers

Feb 11 2022 - Australia
9
Nick Scali Settles On Plush Sofas

Oct 06 2021 - Small Caps
10
Re-Rating In View As Beacon Lighting Expands

Aug 23 2021 - Small Caps