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

Enter the company code or Name for stock analysis:

NEC

NEC - NINE ENTERTAINMENT CO. HOLDINGS LIMITED

FNArena Sector : Print, Radio & TV
Year End: June
GICS Industry Group : Media
Debt/EBITDA: 2.21
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

$1.15

11 Feb
2026

0.000

OPEN

$1.15

0.000

HIGH

$1.17

4,955,086

LOW

$1.14

TARGET
$1.64 42.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1N . GTN . NWS . SKT . SXL .
FNARENA'S MARKET CONSENSUS FORECASTS
NEC: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.6 9.5 xxx
DPS (cps) xxx 56.5 6.7 xxx
EPS Growth xxx - 4.5% 44.3% xxx
DPS Growth xxx 100.0% - 88.2% xxx
PE Ratio xxx N/A 11.9 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 861.3% 70.4% xxx

Dividend yield today if purchased 3 years ago: 27.16%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 50.00

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: 11/09 - ex-div 4.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic -30.89.917.410.96.96.6
DPS All 7.010.514.011.08.556.5
Sales/Revenue 2,170.6 M2,331.5 M2,688.8 M2,694.6 M2,619.4 M2,676.5 M
Book Value Per Share 102.7106.5110.5103.6100.399.3
Net Operating Cash Flow 377.4 M398.2 M487.2 M351.8 M293.4 M379.6 M
Net Profit Margin -24.13 %7.26 %11.05 %6.75 %4.23 %3.88 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed -24.19 %9.50 %16.09 %10.21 %6.78 %6.58 %
Return on Invested Capital -19.41 %6.72 %11.51 %7.01 %4.36 %4.14 %
Return on Assets -13.00 %4.48 %7.38 %4.46 %2.77 %2.61 %
Return on Equity -24.19 %9.50 %16.09 %10.21 %6.78 %6.58 %
Return on Total Capital 7.37 %13.11 %18.50 %14.87 %10.58 %11.24 %
Free Cash Flow ex dividends 121.6 M236.2 M255.3 M111.6 M109.7 M227.9 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 202020212022202320242025
Short-Term Debt 107 M123 M115 M136 M139 M145 M
Long Term Debt 749 M727 M746 M877 M940 M914 M
Total Debt 856 M850 M861 M1,013 M1,079 M1,059 M
Goodwill - Gross 2,606 M2,640 M2,900 M2,590 M2,590 M2,590 M
Cash & Equivalents - Generic 187 M172 M153 M120 M93 M142 M
Price To Book Value 1.342.731.651.901.401.64

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 138.9 M93.8 M74.8 M97.8 M137.0 M135.0 M
Capex % of Sales 6.40 %4.02 %2.78 %3.63 %5.23 %5.05 %
Cost of Goods Sold 1,949 M1,968 M2,158 M2,262 M2,298 M2,356 M
Selling, General & Admin. Exp & Other 0 M--0 M17 M0 M
Research & Development ------
Investments - Total 31 M38 M41 M38 M33 M28 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

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

29/08/2025

1

Overweight

$1.90

65.22%

Nine Entertainment reported inline FY25 results according to Morgan Stanley, with the start of FY26 showing a challenging ad market.

The company confirmed the capital return of around $800m to shareholders via a special dividend of 49c to be paid on Sept 26.

FY25 revenue growth was basically in line, with 32% from subscription-based ex Domain and some -$60m of cost removed.

Management offered no specific comments on the direction of the company post the Domain sale and the reuse of around $600m in cash proceeds.

Target $1.90. Overweight. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 7.00 cents and EPS of 10.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 7.70 cents and EPS of 11.10 cents.

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

05/02/2026

2

Overweight

$1.25

8.70%

Nine Entertainment is repositioning its portfolio through the $850m acquisition of QMS Media and divestment of radio and regional TV assets, Jarden notes. 

The broker assesses the decision as strategically sound, repositioning the company toward higher-growth digital assets, with digital expected to exceed 60% of revenue by FY27.

The QMS price is reasonable in the broker's view, with a forecast for over 10% pro forma EPS accretion by FY28, contingent on delivering $20m in cost synergies by FY29.

Leverage is set to rise before deleveraging through cash flow, though dividend risk remains in a material ad market downturn, the broker highlights.

Overweight rating and $1.25 target are unchanged.

FORECAST
Jarden forecasts a full year FY26 dividend of 5.20 cents and EPS of 7.50 cents.
Jarden forecasts a full year FY27 dividend of 6.30 cents and EPS of 9.00 cents.
Access Extra Coverage Research History >

NEC STOCK CHART

FNArena News on NEC

1
Australian Broker Call *Extra* Edition – Feb 05, 2026

Feb 05 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Nov 17, 2025

Nov 17 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Oct 06, 2025

Oct 06 2025 - Daily Market Reports
4
Rudi’s View: August Results; Standouts, Turnarounds, Failures & Misfits

Sep 10 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Sep 09, 2025

Sep 09 2025 - Daily Market Reports

Latest Print, Radio & TV News

1
Cash Flows Boost News Corp’s Outlook

Feb 14 2025 - Australia
2
FNArena Book Review: The Men Who Killed The News

Jan 21 2025 - Book Reviews
3
Content Investment Key To Nine Entertainment

Aug 30 2021 - Australia
4
Heightened Interest In News Corp Buybacks

Aug 09 2021 - Australia
5
Nine Entertainment’s Digital Deal Welcomed

Jun 02 2021 - Australia
6
Radio Recovery Lights Up Southern Cross Media

Mar 04 2021 - Australia
7
The Short Report – 09 Jul 2020

Jul 09 2020 - Weekly Reports
8
Radio Advertising Market Pivotal For HT&E

Aug 16 2019 - Small Caps
9
Domain Is The Prize In Nine-Fairfax Merger

Jul 27 2018 - Australia
10
Domain The Main Game For Fairfax

Jul 04 2017 - Australia