DOMAIN HOLDINGS AUSTRALIA LIMITED (DHG)
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DHG - DOMAIN HOLDINGS AUSTRALIA LIMITED

FNArena Sector : Real Estate
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 2.18
Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Domain Holdings Australia operates Australia's second largest online real estate portal. Originally part of the Fairfax Media group, it was de-merged and listed in 2017, with Fairfax, now Nine Entertainment, retaining a majority share.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.33

19 Jul
2024

0.080

OPEN

$3.19

2.46%

HIGH

$3.36

1,873,298

LOW

$3.15

TARGET
$3.28 -1.5% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
APZ . DGH . HMC . PXA . REA . RMY . UBN .
FNARENA'S MARKET CONSENSUS FORECASTS
DHG: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 4.1 8.3 xxx
DPS (cps) xxx 6.0 5.4 xxx
EPS Growth xxx - 29.8% 99.5% xxx
DPS Growth xxx 0.1% - 10.3% xxx
PE Ratio xxx N/A 40.3 xxx
Dividend Yield xxx N/A 1.6% xxx
Div Pay Ratio(%) xxx 144.9% 65.1% xxx

Dividend yield today if purchased 3 years ago: 1.21%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

1.80

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: 20/02 - ex-div 2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx4.1
DPS All xxxxxxxxxxxxxxx6.0
Sales/Revenue xxxxxxxxxxxxxxx345.5 M
Book Value Per Share xxxxxxxxxxxxxxx173.1
Net Operating Cash Flow xxxxxxxxxxxxxxx66.2 M
Net Profit Margin xxxxxxxxxxxxxxx10.59 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx3.33 %
Return on Invested Capital xxxxxxxxxxxxxxx2.74 %
Return on Assets xxxxxxxxxxxxxxx2.42 %
Return on Equity xxxxxxxxxxxxxxx3.33 %
Return on Total Capital xxxxxxxxxxxxxxx5.29 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-2.0 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx235 M
Total Debt xxxxxxxxxxxxxxx240 M
Goodwill - Gross xxxxxxxxxxxxxxx1,405 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx33 M
Price To Book Value xxxxxxxxxxxxxxx2.19

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx30.3 M
Capex % of Sales xxxxxxxxxxxxxxx8.78 %
Cost of Goods Sold xxxxxxxxxxxxxxx191 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx83 M
Research & Development xxxxxxxxxxxxxxx-
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

0.1

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

09/05/2024

4

Lighten

$2.60

-21.92%

Ord Minnett doesn't warm to Domain Holdings Australia's pricing strategy which has resulted in market share losses in the weaker markets, Queensland and Western Australia, and they note management is looking to increase pricing by another 8% in FY25.

To offset the potential price hike, management will include the Audience Boost amplification feature with residential listings. Management envisages this provides a better value proposition and the broker thinks this is a potential winner if they succeed.

Post the 3Q trading update, Ord Minnett adjusts the Fair Value for a change in the time value of money, but the stock is still viewed as overvalued.

The Fair Value is raised to $2.60 from $2.50 and the Lighten rating is retained.

FORECAST
Ord Minnett forecasts a full year FY24 dividend of 5.00 cents and EPS of 9.10 cents.
Ord Minnett forecasts a full year FY25 dividend of 5.00 cents and EPS of 8.90 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxx xx xxxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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EXPERT VIEWS
Display All Commentary

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Goldman Sachs

29/02/2024

3

Neutral

$3.60

8.11%

After reviewing 1H results for the classifieds market segment on the ASX, Goldman Sachs notes management at CAR Group and REA Group are accelerating growth investment.

The broker points out these two companies have the strongest 2024 revenue outlook, by contrast to Domain Holdings Australia and Seek where opex guidance is unchanged and lowered, respectively.

The analysts prefer Buy-rated REA Group over Domain Holdings Australia (Neutral, target $3.60), despite Domain's significant valuation discount by comparison to REA Group.

The broker holds longer-term market share concerns for Domain despite a strong near-term growth trajectory.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 4.00 cents and EPS of 7.00 cents.
Goldman Sachs forecasts a full year FY25 dividend of 6.00 cents and EPS of 9.00 cents.

DHG STOCK CHART