TREASURY WINE ESTATES LIMITED (TWE)
Share Price Analysis and Chart

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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: 2.28
Index: 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

$4.60

26 Feb
2026

-0.040

OPEN

$4.60

-0.86%

HIGH

$4.69

3,935,245

LOW

$4.55

TARGET
$4.95 7.6% upside
Franking for last dividend paid out: 70%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . CKF . COL . DMP . EDV . GYG . ING . LRK . MBH . MTS . RFG . SGLLV . SPG . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
TWE: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 53.8 31.0 xxx
DPS (cps) xxx 40.0 0.0 xxx
EPS Growth xxx 100.0% - 42.5% xxx
DPS Growth xxx 11.1% N/A xxx
PE Ratio xxx N/A 14.7 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 74.3% N/A xxx

Dividend yield today if purchased 3 years ago: 2.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.81

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: 27/08 - ex-div 20.00c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx53.8
DPS All xxxxxxxxxxxxxxx40.0
Sales/Revenue xxxxxxxxxxxxxxx2,990.1 M
Book Value Per Share xxxxxxxxxxxxxxx589.6
Net Operating Cash Flow xxxxxxxxxxxxxxx525.7 M
Net Profit Margin xxxxxxxxxxxxxxx14.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.32 %
Return on Invested Capital xxxxxxxxxxxxxxx6.47 %
Return on Assets xxxxxxxxxxxxxxx5.25 %
Return on Equity xxxxxxxxxxxxxxx9.32 %
Return on Total Capital xxxxxxxxxxxxxxx11.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx80.1 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx140 M
Long Term Debt xxxxxxxxxxxxxxx2,059 M
Total Debt xxxxxxxxxxxxxxx2,199 M
Goodwill - Gross xxxxxxxxxxxxxxx1,554 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx428 M
Price To Book Value xxxxxxxxxxxxxxx1.32

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx137.1 M
Capex % of Sales xxxxxxxxxxxxxxx4.59 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,572 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx623 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx40 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

-0.4

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

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

17/02/2026

5

Sell

$4.75

3.26%

Treasury Wine Estates' 1H26 result showed earnings in line and FY26 guidance broadly in line with consensus.

The company has noted improved depletions in 1H26 in selected key markets for Penfolds. This is pleasing for UBS yet requires execution, a priority of the new CEO to be improved and for this to be maintained such that it converts into shipments growth, which remain weak.

There are also company specific headwinds including loss of control of Penfolds supply,  an overweight position in the large but declining Californian market; and the ongoing task to unwind the excess shipments, UBS suggests.

UBS retains Sell due to tough industry backdrop (reduced alcohol demand, wine underperformance versus other categories) and company-specific headwinds. Target unchanged at $4.75.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 28.00 cents.
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of 31.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

3

xxxxxxx

$xx.xx

xx.xx%

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Taylor Collison

20/08/2025

3

Hold

$9.22

100.43%

Taylor Collison sees Treasury Wine Estates under pressure from softening China demand, weaker US distribution and rising costs outside Penfolds.

Daou Vineyards slowed sharply in 2H FY25, raising concerns for Treasury Americas, while only Penfolds continues to show consistent organic earnings growth, explains the analyst.

The broker highlights widening softness in China’s ultra-luxury sales due to government tightening, with more brand investment likely needed, making FY27 growth targets look stretched.

Taylor Collison makes modest EPS upgrades from buybacks but profit estimates are cuts by around -2% on weaker Americas results.

Penfolds earnings are expected to grow below company guidance, leaving group forecasts -$40m below management's projections.

Taylor Collison lifts its fair value to $9.22 from $8.83 (due to the buyback) but maintains a Hold rating, pending direction from incoming CEO Sam Fischer.

FORECAST
Taylor Collison forecasts a full year FY26 dividend of 44.00 cents and EPS of 63.80 cents.
Taylor Collison forecasts a full year FY27 dividend of 47.00 cents and EPS of 67.50 cents.
Access Extra Coverage Research History >

TWE STOCK CHART

FNArena News on TWE

1
Next Week At A Glance – 27 Feb – 6 March 2026

Feb 27 2026 - Weekly Reports
2
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 20-02-26

Feb 20 2026 - Weekly Reports
4
Rudi’s View: More Surprises, Led By CBA & BHP

Feb 19 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Feb 19, 2026

Feb 19 2026 - Daily Market Reports

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