TREASURY WINE ESTATES LIMITED (TWE)
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TWE

TWE - TREASURY WINE ESTATES LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 2.82
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Treasury Wine Estates is Australia's largest wine producer and distributor and one of the world's largest. Formerly operating as the wine division of international brewing company Foster's Group until May 2011, it was de-merged into a separate company. Owns iconic brands incl Penfolds, globally known for its luxurious Grange production.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$8.22

05 Jun
2025

-0.080

OPEN

$8.28

-0.96%

HIGH

$8.37

6,595,480

LOW

$8.15

TARGET
$10.507 27.8% upside
Franking for last dividend paid out: 70%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . EDV . GYG . ING . LRK . MBH . MTS . RFG . SGLLV . TSI . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
TWE: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 12.7 58.0 xxx
DPS (cps) xxx 36.0 39.3 xxx
EPS Growth xxx - 63.6% 100.0% xxx
DPS Growth xxx 3.9% 9.2% xxx
PE Ratio xxx N/A 14.0 xxx
Dividend Yield xxx N/A 4.8% xxx
Div Pay Ratio(%) xxx 283.5% 67.8% xxx

Dividend yield today if purchased 3 years ago: 3.12%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.44

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: 28/08 - ex-div 19c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx12.7
DPS All xxxxxxxxxxxxxxx36.0
Sales/Revenue xxxxxxxxxxxxxxx2,808.3 M
Book Value Per Share xxxxxxxxxxxxxxx566.1
Net Operating Cash Flow xxxxxxxxxxxxxxx431.7 M
Net Profit Margin xxxxxxxxxxxxxxx3.52 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx2.34 %
Return on Invested Capital xxxxxxxxxxxxxxx1.62 %
Return on Assets xxxxxxxxxxxxxxx1.30 %
Return on Equity xxxxxxxxxxxxxxx2.34 %
Return on Total Capital xxxxxxxxxxxxxxx9.68 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-5.1 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 xxxxxxxxxxxxxxx84 M
Long Term Debt xxxxxxxxxxxxxxx2,075 M
Total Debt xxxxxxxxxxxxxxx2,159 M
Goodwill - Gross xxxxxxxxxxxxxxx1,517 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx458 M
Price To Book Value xxxxxxxxxxxxxxx2.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx190.1 M
Capex % of Sales xxxxxxxxxxxxxxx6.77 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,574 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx626 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx44 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

0.5

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

04/06/2025

3

Hold

$9.50

15.57%

Management at Treasury Wine Estates has revised down FY25 earnings growth guidance due to weaker US wine sales, particularly below the US$15 price point, amid economic uncertainty, explains Ord Minnett.

The broker was unsurprised by the downgrade, noting expectations were already adjusted in line with the updated figures.

The withdrawal of key distributor RNDC from California will not impact FY25 results but is expected to weigh on FY26 performance for the Americas division, highlights the analyst, especially if RNDC exits additional states.

The broker believes securing robust distribution partnerships will be a key priority for incoming CEO Sam Fischer.

Ord Minnett makes no changes to EPS forecasts, maintains a Hold rating and retains the $9.50 target price.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

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

04/06/2025

2

Downgrade to Overweight from Buy

$10.60

28.95%

Jarden cuts its FY26-27 earnings (EBIT) forecasts for Treasury Wine Estates by -6% due to soft US demand, the distributor exit from California, and currency pressure.

The broker notes FY25 EBITS guidance remains unchanged at around $770m, though the RNDC (distributor) exit from California, which made up circa 25% of Americas net sales revenue, is expected to weigh on FY26.

Penfolds and the Americas luxury portfolio are forecast to represent over 85% of group EBIT by FY26, with Jarden seeing re-rating potential if Penfolds achieves peer-level multiples.

The broker views a potential future demerger into Penfolds, Americas luxury, and Global Premium as strategically compelling.

Jarden downgrades to Overweight from Buy and lowers the target price to $10.60 from $13.90.

FORECAST
Jarden forecasts a full year FY25 dividend of 38.00 cents and EPS of 58.00 cents.
Jarden forecasts a full year FY26 dividend of 50.00 cents and EPS of 64.80 cents.
Access Extra Coverage Research History >

TWE STOCK CHART

FNArena News on TWE

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 06-06-25

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2
Australian Broker Call *Extra* Edition – Jun 04, 2025

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Weekly Ratings, Targets, Forecast Changes – 23-05-25

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Rudi’s View: Is Buy The Dip Changing Markets?

May 21 2025 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 16-05-25

May 19 2025 - Weekly Reports

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