KOGAN.COM LIMITED (KGN)
Share Price Analysis and Chart

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KGN

KGN - KOGAN.COM LIMITED

FNArena Sector : Retailing
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 0.5
Index: ALL-ORDS

Australia's number one online retailer, founded by Ruslan Kogan from his parents' Melbourne garage in 2006, at the age of 23. The company listed in mid-2016 and has shown a habit of propping up the share price with positive press releases prior to directors selling shares. CEO Kogan and CFO David Shafer have sold circa $350m worth in shares over the past four years (up until late 2020).

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.22

27 Nov
2025

0.080

OPEN

$3.16

2.55%

HIGH

$3.23

316,762

LOW

$3.09

TARGET
$4.40 36.6% upside
Franking for last dividend paid out: 68%
OTHER COMPANIES IN THE SAME SECTOR
ATG . LOV .
FNARENA'S MARKET CONSENSUS FORECASTS
KGN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 39.1 17.7 xxx
DPS (cps) xxx 14.0 11.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 6.7% - 19.0% xxx
PE Ratio xxx N/A 19.3 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx N/A 64.2% xxx

Dividend yield today if purchased 3 years ago: 4.02%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.11

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 7.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-39.1
DPS All xxxxxxxxxxxxxxx14.0
Sales/Revenue xxxxxxxxxxxxxxx487.9 M
Book Value Per Share xxxxxxxxxxxxxxx60.9
Net Operating Cash Flow xxxxxxxxxxxxxxx37.3 M
Net Profit Margin xxxxxxxxxxxxxxx-8.09 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-42.87 %
Return on Invested Capital xxxxxxxxxxxxxxx-37.93 %
Return on Assets xxxxxxxxxxxxxxx-17.27 %
Return on Equity xxxxxxxxxxxxxxx-42.87 %
Return on Total Capital xxxxxxxxxxxxxxx15.69 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx24.6 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 xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx8 M
Total Debt xxxxxxxxxxxxxxx17 M
Goodwill - Gross xxxxxxxxxxxxxxx46 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx42 M
Price To Book Value xxxxxxxxxxxxxxx6.17

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx4.8 M
Capex % of Sales xxxxxxxxxxxxxxx0.99 %
Cost of Goods Sold xxxxxxxxxxxxxxx298 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx172 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

0.0

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

26/08/2025

3

Neutral

$4.90

52.17%

Neutral rating and $4.90 price target retained at UBS. The FY25 release is considered as largely in line. Gross sales $931m and gross profit $190m slightly beat forecasts (by 1%) and the final 7c DPS proved well ahead of UBS' 1.5c estimate.

Medium-term EBITDA margin aims of 8–12% look achievable, but the broker stays sceptical on 20%-plus long-term. Commentary observes Marketplace grew by 34% y/y and Kogan First momentum remains pivotal.

Mighty Ape drags near term but is guided to profit in 2H26, the report highlights

FY26 EBITDA forecast is lowered -13% to $40.4m and EPS by -16%, while FY27–FY28 see minimal changes.

FORECAST
UBS forecasts a full year FY26 dividend of 13.00 cents and EPS of 16.00 cents.
UBS forecasts a full year FY27 dividend of 19.00 cents and EPS of 24.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

26/08/2025

4

Underweight

$4.25

31.99%

Kogan.com's FY25 revenue of $488.1m was up 6.2% y/y but missed Jarden's forecast by -4.5%. Adjusted EBITDA was 4.3% above consensus but EBIT missed by -4.4%.

July update was weak, with revenue up only 2.6% y/y vs consensus revenue forecast of 8.8% y/y for 1H and 9.2% for FY256, with Mighty Ape a drag while kogan.com outperformed.

One relief was the company providing margin guidance for FY26 with adjusted EBITDA margin expected to be 6-9%, and long-term EBITDA target of over 20%.

Commentary suggests this now means the risk has shifted to execution.  The broker upgraded FY26-28 EBITDA forecasts by 8-10%.

Underweight. Target rises to $4.25 from $4.05.

FORECAST
Jarden forecasts a full year FY26 EPS of 18.60 cents.
Jarden forecasts a full year FY27 EPS of 20.70 cents.
Access Extra Coverage Research History >

KGN STOCK CHART

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