REECE LIMITED (REH)
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REH

REH - REECE LIMITED

FNArena Sector : Furniture & Renovation
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 2.52
Index: ASX200 | ASX300 | ALL-ORDS

Reece is an international distributor of plumbing, waterworks, heating, cooling, bathroom and kitchen products, with operations in Australia, New Zealand and the US.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$17.09

30 Oct
2026

1.330

OPEN

$16.58

8.44%

HIGH

$17.48

1,343,034

LOW

$16.58

TARGET
$17.317

+0.10 change from previous day

 1.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADH . BLX . GWA . HVN . JBH . JYC . NCK . TPW .
FNARENA'S MARKET CONSENSUS FORECASTS
REH: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 49.5 53.7 xxx
DPS (cps) xxx 18.8 20.7 xxx
EPS Growth xxx 0.7% 8.4% xxx
DPS Growth xxx 2.6% 9.9% xxx
PE Ratio xxx N/A 33.7 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 38.0% 38.5% xxx

Dividend yield today if purchased 3 years ago: 1.05%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.04

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: 06/10 - ex-div 13.40c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx49.5
DPS All xxxxxxxxxxxxxxx18.8
Sales/Revenue xxxxxxxxxxxxxxx9,378.4 M
Book Value Per Share xxxxxxxxxxxxxxx609.4
Net Operating Cash Flow xxxxxxxxxxxxxxx645.2 M
Net Profit Margin xxxxxxxxxxxxxxx3.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.91 %
Return on Invested Capital xxxxxxxxxxxxxxx5.27 %
Return on Assets xxxxxxxxxxxxxxx4.08 %
Return on Equity xxxxxxxxxxxxxxx7.91 %
Return on Total Capital xxxxxxxxxxxxxxx8.78 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx372.4 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 xxxxxxxxxxxxxxx173 M
Long Term Debt xxxxxxxxxxxxxxx2,080 M
Total Debt xxxxxxxxxxxxxxx2,253 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx328 M
Price To Book Value xxxxxxxxxxxxxxx2.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx174.4 M
Capex % of Sales xxxxxxxxxxxxxxx1.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,664 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,187 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx17 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

-0.2

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

30/10/2026

5

Sell

$16.10

-5.79%

First response: Citi retains a Sell rating on Reece despite solid September quarter trading, highlighting slowing volume growth and weakening indicators for the second half.

Group sales rose 4% to $2.51bn. A&NZ sales increased approximately 13%, supported by mid-single-digit price growth, but Citi estimates volume growth slowed to 7%-9% from low double digits in the second half of FY26.

US sales rose approximately 6%, with like-for-like growth around 2% despite difficult market conditions.

The broker cautions current activity reflects construction starts and permits from three to six months earlier.

Falling orders at US homebuilder DR Horton and deteriorating sales trends at Bunnings ((WES)) reinforce its cautious outlook.

Citi forecasts second-half EBIT declines, contrasting with consensus expectations for growth and consistent with management's more guarded outlook. Target drops to $16.10.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

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

25/08/2026

2

Overweight

$16.30

-4.62%

Jarden maintains its Overweight recommendation for Reece with an unchanged target price of $16.30 following an FY26 financial result where group EBIT reached $534m, coming in broadly in line with consensus expectations.

Group revenue grew to $9,378m, supported by a solid performance in Australia and New Zealand where EBIT reached $360m on the back of supportive top-line growth.

The United States segment delivered EBIT of $174m in line with consensus, while management raised its US organic store opening guidance to between 15 and 20 stores.

Management notes a solid activity pipeline to support the first half of FY27, though potential deterioration in lead indicators across Australia and New Zealand remains a risk alongside continued softness in the United States residential market.

The broker's estimates indicate solid earnings delivery with reported earnings per share of 49.5c, positioning the company well despite a cautious outlook.
Access Extra Coverage Research History >

REH STOCK CHART

FNArena News on REH

1
Weekly Ratings, Targets, Forecast Changes – 30-10-26

10:00 AM - Weekly Reports
2
Weekly Ratings, Targets, Forecast Changes – 28-08-26

Aug 31 2026 - Weekly Reports
3
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Aug 25, 2026

Aug 25 2026 - Daily Market Reports
5
FNArena Corporate Results Monitor – 24-08-2026

Aug 24 2026 - Australia

Latest Furniture & Renovation News

1
Joyce Corp’s Capital Light Growth In Focus

Oct 12 2026 - Small Caps
2
Strong Momentum Underpins Nick Scali’s FY26

Aug 12 2025 - Australia
3
Reece Battling Tariffs, Competition & Cost Crises

Jul 01 2025 - Australia
4
New Broom Clearing The Decks For Adairs

Jun 25 2025 - Small Caps
5
Nick Scali’s Margin & UK Opportunity Excites

Feb 21 2025 - Small Caps
6
Temple & Webster Embraces The Future

Feb 20 2025 - Small Caps
7
Nick Scali’s Transitory Freight Headwind

Oct 24 2024 - Small Caps
8
Temple & Webster Spends Up For A Bigger Share

Aug 18 2023 - Small Caps
9
Too Harsh On Temple & Webster?

Feb 15 2023 - Australia
10
Nick Scali Worth Watching

Dec 20 2022 - Technicals