NINE ENTERTAINMENT CO. HOLDINGS LIMITED (NEC)
Share Price Analysis and Chart

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NEC - NINE ENTERTAINMENT CO. HOLDINGS LIMITED

FNArena Sector : Print, Radio & TV
Year End: June
GICS Industry Group : Media
Debt/EBITDA: 2.34
Index: ASX200 | ASX300 | ALL-ORDS

Nine Entertaiment is an Australian media company with holdings in radio, television, newspapers and digital media. Nine listed in 2013 and merged with Fairfax Media in 2018.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.245

20 Nov
2024

0.005

OPEN

$1.24

0.40%

HIGH

$1.27

4,423,511

LOW

$1.24

TARGET
$1.73 39.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1N . GTN . NWS . SKT . SWM . SXL .
FNARENA'S MARKET CONSENSUS FORECASTS
NEC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 6.9 9.2 xxx
DPS (cps) xxx 8.5 4.9 xxx
EPS Growth xxx - 36.9% 33.9% xxx
DPS Growth xxx - 22.7% - 42.9% xxx
PE Ratio xxx N/A 13.8 xxx
Dividend Yield xxx N/A 3.8% xxx
Div Pay Ratio(%) xxx 123.7% 52.7% xxx

Dividend yield today if purchased 3 years ago: 2.81%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.69

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: 12/09 - ex-div 4.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx6.9
DPS All xxxxxxxxxxxxxxx8.5
Sales/Revenue xxxxxxxxxxxxxxx2,619.4 M
Book Value Per Share xxxxxxxxxxxxxxx100.3
Net Operating Cash Flow xxxxxxxxxxxxxxx293.4 M
Net Profit Margin xxxxxxxxxxxxxxx4.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx6.78 %
Return on Invested Capital xxxxxxxxxxxxxxx4.36 %
Return on Assets xxxxxxxxxxxxxxx2.77 %
Return on Equity xxxxxxxxxxxxxxx6.78 %
Return on Total Capital xxxxxxxxxxxxxxx10.58 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx109.7 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 xxxxxxxxxxxxxxx139 M
Long Term Debt xxxxxxxxxxxxxxx940 M
Total Debt xxxxxxxxxxxxxxx1,079 M
Goodwill - Gross xxxxxxxxxxxxxxx2,590 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx93 M
Price To Book Value xxxxxxxxxxxxxxx1.40

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx137.0 M
Capex % of Sales xxxxxxxxxxxxxxx5.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,298 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx17 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx33 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

0.7

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

29/08/2024

1

Overweight

$2.30

84.74%

Morgan Stanley assesses Nine Entertainment reported FY24 which were in line while the FY25 outlook met consensus expectations.

At first glance, the report was not "as bad" as feared the broker notes, but the key question for the analyst "is where to from here?"

Management confirmed FY25 has commenced well with total tv views up 10% in 1Q, including some Olympic tailwinds and positive tv growth in 1H and 2H25 are expected.

The broker stresses Nine Entertainment remains a cyclical stock. It is heavily dependent on TV ad market.

The Overweight rating is maintained. Target is $2.20. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY25 EPS of 13.80 cents.
Morgan Stanley forecasts a full year FY26 EPS of 15.50 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

12/11/2024

1

Buy

$1.65

32.53%

Goldman Sachs highlights a cautious outlook for the Australian TV market following 1Q25 updates from Nine Entertainment and Seven West Media ((SWM)).

Management at Nine Entertainment expects a -10% revenue decline in Total TV for 2Q25 and has withheld prior 2H25 growth forecasts, but has reiterated FY25 cost-saving targets.

Goldman Sachs lowers FY25-27 earnings (EBITDA) forecasts by -5% to reflect weaker TV revenues.

The analyst maintains a preference for Nine Entertainment over Seven West Media, citing its attractive valuation and stronger balance sheet, despite ongoing structural challenges in the TV sector.

Goldman Sachs maintains a Buy rating with a -13% lower target of $1.65.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 7.00 cents and EPS of 9.60 cents.
Goldman Sachs forecasts a full year FY26 dividend of 8.00 cents and EPS of 10.60 cents.
Access Extra Coverage Research History >

NEC STOCK CHART

FNArena News on NEC

1
ESG Focus: The Little Big Things – 21-11-2024

11:57 AM - ESG Focus
2
Australian Broker Call *Extra* Edition – Nov 13, 2024

Nov 13 2024 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Nov 12, 2024

Nov 12 2024 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Nov 06, 2024

Nov 06 2024 - Daily Market Reports
5
Next Week At A Glance – 28 Oct -1 Nov 2024

Oct 25 2024 - Weekly Reports

Latest Print, Radio & TV News

1
Content Investment Key To Nine Entertainment

Aug 30 2021 - Australia
2
Heightened Interest In News Corp Buybacks

Aug 09 2021 - Australia
3
Nine Entertainment’s Digital Deal Welcomed

Jun 02 2021 - Australia
4
Radio Recovery Lights Up Southern Cross Media

Mar 04 2021 - Australia
5
The Short Report – 09 Jul 2020

Jul 09 2020 - Weekly Reports
6
Radio Advertising Market Pivotal For HT&E

Aug 16 2019 - Small Caps
7
Domain Is The Prize In Nine-Fairfax Merger

Jul 27 2018 - Australia
8
Domain The Main Game For Fairfax

Jul 04 2017 - Australia
9
The Short Report

Nov 24 2016 - Weekly Reports
10
The Short Report

Jul 21 2016 - Australia