Financials Reece Limited

Equities

REH

AU000000REH4

Construction Supplies & Fixtures

Market Closed - Australian S.E. 07:10:20 24/06/2024 BST 5-day change 1st Jan Change
25.81 AUD +0.70% Intraday chart for Reece Limited +0.98% +15.27%

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,474 5,937 15,252 8,902 11,996 16,673 - -
Enterprise Value (EV) 1 6,943 7,413 15,758 9,771 12,721 17,121 16,886 16,631
P/E ratio 27.1 x 23 x 53.7 x 22.6 x 31 x 39.7 x 39.7 x 35 x
Yield 2.07% 1.31% 0.76% 1.63% 1.35% 0.99% 1.02% 1.13%
Capitalization / Revenue 1 x 0.99 x 2.43 x 1.16 x 1.36 x 1.87 x 1.83 x 1.74 x
EV / Revenue 1.27 x 1.23 x 2.51 x 1.28 x 1.44 x 1.92 x 1.85 x 1.73 x
EV / EBITDA 13.5 x 11.4 x 21.9 x 11.7 x 13 x 17 x 16.6 x 15.2 x
EV / FCF 44.7 x 14.3 x 52.2 x 260 x 18.4 x 26.6 x 28.8 x 25.3 x
FCF Yield 2.24% 6.98% 1.92% 0.38% 5.42% 3.75% 3.47% 3.96%
Price to Book 2.75 x 2.16 x 5.28 x 2.68 x 3.31 x 4.37 x 4.11 x 3.8 x
Nbr of stocks (in thousands) 560,823 645,984 645,984 645,984 645,984 645,984 - -
Reference price 2 9.760 9.190 23.61 13.78 18.57 25.63 25.63 25.63
Announcement Date 28/08/19 26/08/20 24/08/21 23/08/22 22/08/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,464 6,014 6,271 7,654 8,840 8,938 9,113 9,609
EBITDA 1 513 649.6 720 838.3 975 1,006 1,016 1,092
EBIT 1 384.9 413.2 492.7 578.2 654 689.4 686.8 749.4
Operating Margin 7.04% 6.87% 7.86% 7.55% 7.4% 7.71% 7.54% 7.8%
Earnings before Tax (EBT) 1 297 312.5 380.3 509.4 567.8 595.2 609.5 696.1
Net income 1 202.1 229 286 392.5 388 419.4 433.5 490.6
Net margin 3.7% 3.81% 4.56% 5.13% 4.39% 4.69% 4.76% 5.11%
EPS 2 0.3600 0.4000 0.4400 0.6100 0.6000 0.6448 0.6449 0.7315
Free Cash Flow 1 155.3 517.6 302 37.55 690 642.5 586.5 658.5
FCF margin 2.84% 8.61% 4.82% 0.49% 7.81% 7.19% 6.44% 6.85%
FCF Conversion (EBITDA) 30.27% 79.68% 41.95% 4.48% 70.77% 63.85% 57.73% 60.31%
FCF Conversion (Net income) 76.83% 226.04% 105.6% 9.57% 177.84% 153.21% 135.3% 134.22%
Dividend per Share 2 0.2025 0.1200 0.1800 0.2250 0.2500 0.2531 0.2619 0.2908
Announcement Date 28/08/19 26/08/20 24/08/21 23/08/22 22/08/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 2,963 - 3,197 - - 4,437 4,403 4,537 4,472 4,684 4,556 4,778
EBITDA 1 312.7 - 370.6 - - 495 479.6 526.1 461 - - -
EBIT 1 206 - 256.2 - - 325.4 328.7 367.1 319.7 359.7 338.3 383.7
Operating Margin 6.95% - 8.01% - - 7.33% 7.47% 8.09% 7.15% 7.68% 7.43% 8.03%
Earnings before Tax (EBT) 1 - - - - - 288.1 - - 262 - - -
Net income 1 - - 163 157.1 - 185.9 201.7 223.6 185 - - -
Net margin - - 5.1% - - 4.19% 4.58% 4.93% 4.14% - - -
EPS 2 - 0.1900 0.2500 0.2430 0.3670 0.2880 0.3120 0.3460 0.2755 0.3200 0.3200 -
Dividend per Share 2 0.0600 - 0.1200 - - 0.0800 0.1700 0.0800 0.1600 - - -
Announcement Date 27/02/20 25/02/21 24/08/21 24/02/22 23/08/22 21/02/23 22/08/23 26/02/24 - - - -
1AUD in Million2AUD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,469 1,476 507 870 725 448 213 -
Net Cash position 1 - - - - - - - 42
Leverage (Debt/EBITDA) 2.864 x 2.272 x 0.7037 x 1.037 x 0.7436 x 0.4454 x 0.2095 x -
Free Cash Flow 1 155 518 302 37.6 690 643 586 659
ROE (net income / shareholders' equity) 11.4% 9.66% 10.1% 12.6% 11.2% 11.2% 10.8% 11.2%
ROA (Net income/ Total Assets) 6.52% 4.23% 4.58% 6.17% 5.73% 6.12% 6.08% 6.84%
Assets 1 3,101 5,409 6,245 6,363 6,773 6,851 7,127 7,177
Book Value Per Share 2 3.550 4.260 4.470 5.140 5.610 5.870 6.230 6.750
Cash Flow per Share 2 0.4500 1.050 0.5700 1.010 1.190 1.010 1.040 1.170
Capex 1 99.2 83.3 69.6 184 177 242 242 267
Capex / Sales 1.82% 1.39% 1.11% 2.41% 2% 2.71% 2.65% 2.77%
Announcement Date 28/08/19 26/08/20 24/08/21 23/08/22 22/08/23 - - -
1AUD in Million2AUD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
12
Last Close Price
25.63 AUD
Average target price
20.41 AUD
Spread / Average Target
-20.35%
Consensus
  1. Stock Market
  2. Equities
  3. REH Stock
  4. Financials Reece Limited