20 minute delayed
Join Market Matters and get full access to all our Opinion + Action
Overvalued
Morningstar Quantitative Rating as of 4 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 16.20 Fair value 19.64 One-star price 23.80
Morningstar Quantitative Rating as of 4 NOV 2026.
Morningstar Quantitative Rating as of 4 NOV 2026. The slider runs from the five-star price (16.20) to the one-star price (23.80).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 22.20 |
| Price - 12 month high | 24.75 |
| Price - 12 month low | 20.10 |
| Pricing date | 4 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 4.33 |
| Market capitalization | 29,837.96 |
| 12 Month High price date | 23 OCT 2026 |
| 12 Month Low price date | 12 MAR 2026 |
| Volume - avg. trading volume for the last 3 months | 2.83 |
| Price - 1 Day % Change | 4.47% |
| Price - 13 week price percent change | -8.75% |
| Price - 26 week price percent change | 0.82% |
| Price - 5 Day % Change | -6.33% |
| Price - 52 week price percent change | 1.83% |
| Price - YTD price percent change | 3.54% |
| Price % Change Month To Date | -3.60% |
| EPS excluding extraordinary items - most recent fiscal year | 0.812 |
| EPS excluding extraordinary items - trailing 12 month | 0.812 |
| EPS Normalized - most recent fiscal year | 0.935 |
| Revenue/share - most recent fiscal year | 33.955 |
| Revenue/share - trailing 12 month | 33.955 |
| Book value per share - most recent fiscal year | 2.938 |
| Book value per share - most recent half-year | 2.938 |
| Book value (tangible) per share - most recent fiscal year | 1.284 |
| Book value (tangible) per share - most recent half-year | 1.284 |
| Cash per share - most recent fiscal year | 0.423 |
| Cash per share - most recent half-year | 0.423 |
| Cash Flow per share - most recent fiscal year | 2.491 |
| Cash Flow per share - trailing 12 month | 2.491 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.780 |
| EBITD per share - trailing 12 month | 1.555 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.815 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.815 |
| EPS including extraordinary items - most recent fiscal year | 0.815 |
| EPS including extraordinary items - trailing 12 month | 0.815 |
| Free Cash Flow per share - trailing 12 month | 1.380 |
| P/E excluding extraordinary items, most recent fiscal year | 27.34 |
| P/E Normalized, most recent fiscal year | 23.75 |
| Price to sales - most recent fiscal year | 0.65 |
| Price to Tangible Book - most fiscal year | 17.29 |
| Price to Free Cash Flow per Share - most recent fiscal year | 16.08 |
| Price to Cash Flow per share - trailing 12 month | 8.91 |
| Price to Book - most recent fiscal year | 7.56 |
| P/E excluding extraordinary items high, trailing 12 months | 32.16 |
| P/E excluding extraordinary items low, trailing 12 months | 25.46 |
| Net Debt, LFI | 9,974.00 |
| Net Debt, LFY | 9,324.00 |
| Dividend Yield - 5 Year Average | 3.53% |
| Dividend Yield - indicated annual dividend divided by closing price | 3.60% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 3.51% |
| Free Cash Flow - most recent fiscal year | 1,853.00 |
| LT debt/equity - most recent fiscal year | 219.03% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 250.68% |
| LT debt/equity - most recent half-year | 240.64% |
| Total debt/total equity - most recent half-year | 272.26% |
| Free Cash Flow - trailing 12 month | 1,853.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 45,580.00 |
| Revenue - trailing 12 month | 45,580.00 |
| EBITD - most recent fiscal year | 2,088.00 |
| EBITD - trailing 12 month | 2,088.00 |
| Earnings before taxes - most recent fiscal year | 1,549.00 |
| Earnings before taxes - trailing 12 month | 1,549.00 |
| Net Income available to common - most recent fiscal year | 1,090.00 |
| Net Income available to common - trailing 12 months | 1,090.00 |
| Earnings before taxes Normalized - most recent fiscal year | 1,551.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 1,255.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.93 |
| Net Profit Margin % - 1st historical fiscal year | 2.39% |
| Net Profit Margin % - trailing 12 month | 2.39% |
| Operating margin - 1st historical fiscal year | 3.97% |
| Operating margin - trailing 12 month | 3.97% |
| Pretax margin - trailing 12 month | 3.40% |
| Pretax margin - 1st historical fiscal year | 3.40% |
| Operating Margin - 5 year average | 3.96% |
| Pretax Margin - 5 year average | 3.59% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 3.12% |
| Free Operating Cash Flow/Revenue, TTM | 4.07% |
| Net Profit Margin - 5 year average | 2.53% |
| Return on average assets - most recent fiscal year | 5.35% |
| Return on average assets - trailing 12 month | 5.35% |
| Return on average equity - most recent fiscal year | 28.10% |
| Return on average equity - trailing 12 month | 28.10% |
| Return on average assets - 5 year average | 5.49% |
| Return on average equity - 5 year average | 31.27% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 3.20% |
| EPS growth rate, 5 year | 1.52% |
| Growth rate% - dividend, 3 year | 3.42% |
| Revenue/share (5 yr growth) | 3.07% |
| Growth rate% - Revenue, 3 year | 4.03% |
| Growth rate% - EPS, 3 year | -0.37% |
| Book value per share growth rate, 5 year | 6.86% |
| Capital Spending growth rate, 5 year | 3.11% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | -9.22% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
COL -7.67%: was hit hard today, falling around 7% after being down as much as 12%, after a disappointing Q1 update showed supermarket sales growth lagging Woolworths by a much wider margin than expected. The bigger concern is that management is now sacrificing near-term earnings growth to invest in lower prices and rebuild sales momentum.
Coles’ headline FY26 result came in a touch light, covered here. COL’s core supermarkets business is performing well, with EBIT up 12% on just 3.7% sales growth, highlighting the benefits of its productivity program, while early FY27 trading is encouraging.
COL +4.9%: headline FY26 profit was a touch light, but the core supermarkets business remains in good shape, with EBIT up 12%, margins benefiting from productivity initiatives and early FY27 sales maintaining the 4Q run-rate. Liquor remains the obvious problem child, while a sizeable step-up in FY27 investment will keep some pressure on cash flow, leaving us with a result that was sound rather than spectacular.
Coles Group (COL) shares slid the most since March 2020, after the retailer’s trading update showed its supermarket sales underperformed those of main competitor Woolworths.
Coles also reported in October and the company “missed” for a change with the stock enduring its sharpest drop since May, as Coles posted softer quarterly numbers headlined by weaker liquor sales, again, the Australian people evolving away from smoking and drinking. Sales momentum into the second quarter remained steady, but competitive intensity is rising as we head into the key Christmas trading period, with Woolworths mounting a comeback.
COL –2.64%: Shares fell as much as 3.8%, their sharpest drop since May, as Coles posted softer quarterly numbers headlined by weaker liquor sales.
This week, the financial press has been inundated with stories about Coles' and Woolworths' differing fortunes; after all, their business models are the same
COL +8.54%: Shares in the supermarket giant jumped today on a solid FY25 result but more importantly better than expected like-for-like sales growth in FY26 so far.
COL is trading in line with its historical average valuation, but like most “defensive” stocks, it’s not significantly rich compared to many on the ASX. We prefer COL over Woolworths (WOW), with it having executed far better from an operational perspective in the last few years.
COL has well and truly trumped WOW over the last few years, with its stock up almost 50% from its late 2023 low while WOW has slid ~20%.
MM remains neutral COL ~$21.60
MM is neutral towards COL
MM is neutral/bearish on COL
MM is bearish towards COL above $23
MM is neutral towards Coles Group (COL) around $20.50
MM prefers WOW v COL at current levels
MM is now neutral towards COL
MM prefers COL to WOW at this stage
MM remains bullish toward COL
MM is bullish on COL below $21
Coles is one of Australia's largest retailers, operating the second-largest supermarket chain behind market leader Woolworths, and the country's second-largest liquor chain. The group has an extensive store network of over 1,800 stores, and roughly 80% of Australians live within a 10-minute drive from a Coles store. The retailer employs some 120,000 people, who process some 20 million individual customer transactions a week. This compares with Woolworths processing about 30million customer transactions per week from Australia's population of 27 million.
Pulse Check Webinar: Opportunities in the unloved parts of the market
Recorded Wednesday 27st September
Lead Portfolio Manager James Gerrish discusses JB Hi-Fi (JBH), Woolworths (WOW) & Gold
Recorded 10am Wed 3rd May
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
JOIN NOW
Something went wrong. Please try again in a moment.
