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

$18.97

23 May
2025

0.240

OPEN

$18.70

1.28%

HIGH

$19.03

282,427

LOW

$18.63

TARGET
$18.347 -3.3% downside
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 72.9 xxx
DPS (cps) xxx 68.0 54.6 xxx
EPS Growth xxx - 20.9% - 26.2% xxx
DPS Growth xxx - 9.3% - 19.8% xxx
PE Ratio xxx N/A 26.0 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 68.9% 74.8% xxx

Dividend yield today if purchased 3 years ago: 7.76%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.58

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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

21/05/2025

1

Buy

$20.64

8.80%

Citi expects improving housing conditions in Australia to support earnings growth for Nick Scali in 2026, though weaker orders in January and a slower-than-anticipated recovery remain near-term risks.

The refurbishment of Fabb stores in the UK is on track, according to the analysts, with five completed in the second half and expectations for eight to be delivered before year-end.

Freight rates are falling, which could provide margin relief, though Citi warns currency impacts may weigh on reported UK losses.

Buy. Target unchanged at $20.64.

FORECAST
Citi forecasts a full year FY25 dividend of 55.00 cents and EPS of 71.90 cents.
Citi forecasts a full year FY26 dividend of 65.50 cents and EPS of 97.00 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

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

12/02/2025

2

Downgrade to Overweight from Buy

$18.50

-2.48%

Nick Scali delivered a strong 1H25 result with net profit beating Jarden's forecast by 17%. Gross profit margin (GPM) for Australia/NZ of 64.4% beat the consensus of 62.8%, and the UK margin of 45.1% beat 42.9% consensus.

The broker notes trading update for Australia/NZ was weak but the outlook for UK margins remained strong.

The broker lowered FY25 net profit estimate by -2% and increased FY26 by 6%, driven by revenue downgrades on a slower store rollout and softer trading update, offset by GPM upgrades.

Target price rises to $18.5 but rating downgraded to Overweight from Buy on valuation and execution risk.

FORECAST
Jarden forecasts a full year FY25 EPS of 71.20 cents.
Jarden forecasts a full year FY26 EPS of 90.50 cents.
Access Extra Coverage Research History >

NCK STOCK CHART

FNArena News on NCK

1
Rudi’s View: Time For Appreciating Quality

Apr 02 2025 - Rudi's View
2
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
3
Rudi’s View: Post February Conviction Calls

Mar 13 2025 - Rudi's View
4
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
5
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 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