JB HI-FI LIMITED (JBH)
Share Price Analysis and Chart

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JBH - JB HI-FI LIMITED

FNArena Sector : Consumer Electronics
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 0.57
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

JB HiFi is an Australian retail chain specialising in consumer electronics and whitegoods. Originally formed in 1974 in Victoria, the company was aquired by private equiry and floated on the ASX in 2003. It acquired The Good Guys in late 2016. JB Hi-Fi is one of the lowest cost operators of its kind globally.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$43.18

05 Jun
2023

0.790

OPEN

$42.88

1.86%

HIGH

$43.34

345,299

LOW

$42.79

TARGET
$45.783 6.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMS . AUA . HVN .
FNARENA'S MARKET CONSENSUS FORECASTS
JBH: 1
Title FY21
Actual		 FY22
Actual		 FY23
Forecast		 FY24
Forecast
EPS (cps) xxx 479.2 459.8 xxx
DPS (cps) xxx 316.0 301.2 xxx
EPS Growth xxx 8.7% - 4.0% xxx
DPS Growth xxx 10.1% - 4.7% xxx
PE Ratio xxx N/A 9.4 xxx
Dividend Yield xxx N/A 7.0% xxx
Div Pay Ratio(%) xxx 65.9% 65.5% xxx

Dividend yield today if purchased 3 years ago: 7.83%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.45

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: 23/02 - ex-div 197c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx479.2
DPS All xxxxxxxxxxxxxxx316.0
Sales/Revenue xxxxxxxxxxxxxxx9,232.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,171.0
Net Operating Cash Flow xxxxxxxxxxxxxxx627.4 M
Net Profit Margin xxxxxxxxxxxxxxx5.90 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx42.10 %
Return on Invested Capital xxxxxxxxxxxxxxx31.23 %
Return on Assets xxxxxxxxxxxxxxx16.98 %
Return on Equity xxxxxxxxxxxxxxx42.10 %
Return on Total Capital xxxxxxxxxxxxxxx44.70 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx259.6 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 201720182019202020212022
Short-Term Debt xxxxxxxxxxxxxxx167 M
Long Term Debt xxxxxxxxxxxxxxx437 M
Total Debt xxxxxxxxxxxxxxx604 M
Goodwill - Gross xxxxxxxxxxxxxxx747 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx126 M
Price To Book Value xxxxxxxxxxxxxxx3.28

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201720182019202020212022
Capex xxxxxxxxxxxxxxx57.6 M
Capex % of Sales xxxxxxxxxxxxxxx0.62 %
Cost of Goods Sold xxxxxxxxxxxxxxx7,152 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,226 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx-

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

Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

14/02/2023

3

Equal-weight

$44.30

2.59%

First half results for JB Hi-Fi were pre-announced and were therefore in line with market expectations.

However, in January, like-for-like sales growth for JB Hi-Fi Australia was 1.5%, down from 4.9% in the 2Q of FY23, while The Good Guys dropped to 0% from 3.3%.

The broker expects gross profit margins will normalise (fall) to pre-covid levels for JB Hi-Fi Australia with an increase in discounting, while the margin for The Good Guys will be higher than pre-covid due to structural improvement.

The target rises to $44.30 from $42.40. The Equal-weight rating is kept as Morgan Stanley allows for a negative sales reversion, margin pressure and persistent cost-of-doing-business (CODB) inflation.

FORECAST
Morgan Stanley forecasts a full year FY23 dividend of 286.00 cents and EPS of 437.00 cents.
Morgan Stanley forecasts a full year FY24 dividend of 189.00 cents and EPS of 289.00 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

JBH STOCK CHART

FNArena News on JBH

1
In Brief: Banks, Beef, Housing Construction & The US Economy

Jun 02 2023 - Weekly Reports
2
Macro Pressures Tarnish Wesfarmers’ Big Day

May 31 2023 - Australia
3
Rudi’s View: Aristocrat, BHP, Qantas & Westpac

May 25 2023 - Rudi's View
4
In Brief: Lithium, Retail & US Debt

May 12 2023 - Weekly Reports
5
Australian Broker Call *Extra* Edition – May 11, 2023

May 11 2023 - Daily Market Reports

Latest Consumer Electronics News

1
JB Hi-Fi: How Resilient To Spending Slowdown?

Aug 18 2022 - Australia
2
JB Hi-Fi Beats, But What About Next Year?

Jul 20 2022 - Australia
3
JB Hi-Fi: Looking Grim

May 10 2022 - Technicals
4
Capital Management Upside For JB Hi-Fi?

Jan 19 2022 - Australia
5
JB Hi-Fi: One To Watch

Nov 23 2021 - Technicals
6
Harvey Norman On The Move

Jul 06 2021 - Technicals
7
Will Harvey Norman’s Purple Patch Prevail?

Mar 01 2021 - Australia
8
JB Hi-Fi: Buying Opportunity

Feb 16 2021 - Technicals
9
Treasure Chest: Home At The Heart Of JB Hi-Fi

Dec 16 2020 - Treasure Chest
10
Harvey Norman: On The Move

Aug 04 2020 - Technicals