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Undervalued
Morningstar Quantitative Rating as of 30 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 1.10 Fair value 1.51 One-star price 2.06
Morningstar Quantitative Rating as of 30 OCT 2026.
Morningstar Quantitative Rating as of 30 OCT 2026. The slider runs from the five-star price (1.10) to the one-star price (2.06).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 0.85 |
| Price - 12 month high | 1.85 |
| Price - 12 month low | 0.36 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 8.81 |
| Market capitalization | 571.84 |
| 12 Month High price date | 3 NOV 2025 |
| 12 Month Low price date | 25 MAY 2026 |
| Volume - avg. trading volume for the last 3 months | 7.22 |
| Price - 1 Day % Change | 0.00% |
| Price - 13 week price percent change | 91.01% |
| Price - 26 week price percent change | 54.55% |
| Price - 5 Day % Change | -3.41% |
| Price - 52 week price percent change | -54.35% |
| Price - YTD price percent change | -43.32% |
| Price % Change Month To Date | 0.00% |
| EPS excluding extraordinary items - most recent fiscal year | -0.977 |
| EPS excluding extraordinary items - trailing 12 month | -0.977 |
| EPS Normalized - most recent fiscal year | 0.024 |
| Revenue/share - most recent fiscal year | 4.357 |
| Revenue/share - trailing 12 month | 4.357 |
| Book value per share - most recent fiscal year | 0.837 |
| Book value per share - most recent half-year | 0.837 |
| Book value (tangible) per share - most recent fiscal year | 0.511 |
| Book value (tangible) per share - most recent half-year | 0.511 |
| Cash per share - most recent fiscal year | 0.100 |
| Cash per share - most recent half-year | 0.100 |
| Cash Flow per share - most recent fiscal year | 0.345 |
| Cash Flow per share - trailing 12 month | 0.345 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | -0.705 |
| EPS Basic excluding extraordinary items - most recent fiscal year | -0.977 |
| EPS Basic excluding extraordinary items - trailing 12 month | -0.977 |
| EPS including extraordinary items - most recent fiscal year | -0.977 |
| EPS including extraordinary items - trailing 12 month | -0.977 |
| Free Cash Flow per share - trailing 12 month | 0.279 |
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | 34.76 |
| Price to sales - most recent fiscal year | 0.20 |
| Price to Tangible Book - most fiscal year | 1.67 |
| Price to Free Cash Flow per Share - most recent fiscal year | 3.05 |
| Price to Cash Flow per share - trailing 12 month | 2.46 |
| Price to Book - most recent fiscal year | 1.02 |
| P/E excluding extraordinary items high, trailing 12 months | 30.82 |
| P/E excluding extraordinary items low, trailing 12 months | 20.46 |
| Net Debt, LFI | 603.41 |
| Net Debt, LFY | 364.60 |
| Dividend Yield - 5 Year Average | 3.75% |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
| Free Cash Flow - most recent fiscal year | 123.08 |
| LT debt/equity - most recent fiscal year | 67.32% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 76.39% |
| LT debt/equity - most recent half-year | 69.08% |
| Total debt/total equity - most recent half-year | 90.90% |
| Free Cash Flow - trailing 12 month | 123.08 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 1,924.14 |
| Revenue - trailing 12 month | 1,924.14 |
| EBITD - most recent fiscal year | -311.53 |
| EBITD - trailing 12 month | -311.53 |
| Earnings before taxes - most recent fiscal year | -448.31 |
| Earnings before taxes - trailing 12 month | -448.31 |
| Net Income available to common - most recent fiscal year | -431.63 |
| Net Income available to common - trailing 12 months | -431.63 |
| Earnings before taxes Normalized - most recent fiscal year | 2.05 |
| Net Income Available to Common, Normalized - most recent fiscal year | 10.80 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.02 |
| Net Profit Margin % - 1st historical fiscal year | -22.42% |
| Net Profit Margin % - trailing 12 month | -22.42% |
| Operating margin - 1st historical fiscal year | 1.90% |
| Operating margin - trailing 12 month | 1.90% |
| Pretax margin - trailing 12 month | -23.30% |
| Pretax margin - 1st historical fiscal year | -23.30% |
| Operating Margin - 5 year average | 6.23% |
| Pretax Margin - 5 year average | -2.44% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 4.51% |
| Free Operating Cash Flow/Revenue, TTM | 6.40% |
| Net Profit Margin - 5 year average | -3.34% |
| Return on average assets - most recent fiscal year | -26.83% |
| Return on average assets - trailing 12 month | -26.83% |
| Return on average equity - most recent fiscal year | -60.97% |
| Return on average equity - trailing 12 month | -60.97% |
| Return on average assets - 5 year average | -1.91% |
| Return on average equity - 5 year average | -5.21% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 1.78% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | -37.00% |
| Revenue/share (5 yr growth) | 3.07% |
| Growth rate% - Revenue, 3 year | -1.63% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | -17.75% |
| Capital Spending growth rate, 5 year | -11.88% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
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 |
We last discussed Bapcor in December, following another downgrade, Here, at the time when the stock was trading at $1.85, we said: “It’s looking like a value trap rather than a value play until management can prove they’re capable of navigating the increasingly competitive environment.”
BAP –21.28%: Saw their sharpest fall in over a year, after the auto parts retailer cut FY26 profit guidance and warned of weaker trading conditions, particularly in its Trade division.
BAP is a Australian automotive parts and services company that has been feeling Bunnings' move into the automotive accessories sector, which is eroding BAP’s pricing power and customer footfall. BAP received a $5.40 ($1.83 billion) offer from Bain Capital in mid-2024, which was subsequently rejected by the board, saying it undervalued the company, another bunch of directors getting a takeover horribly wrong, with the stock having subsequently halved.
BAP was smacked -17.7% on Monday following a profit downgrade and disclosure of a $12m pre-tax hit tied to operational issues in its trade division.
BAP received a $5.40 ($1.83 billion) offer from Bain Capital in mid-2024, which was subsequently rejected by the board saying it undervalued the company, another bunch of directors getting a takeover horribly wrong, a year later and the stock’s down almost 30% from the bid. Since then, operational challenges and competitive pressures, particularly from entrants like Bunnings, have weighed on the stock, driving its share price well below the initial offer level.
BAP -28.38%: Whacked today on materially lower than expected preliminary results:
We are making a switch in the Emerging Companies Portfolio today.
Bapcor is one of the largest distributors of automotive parts and accessories in Australia (& NZ), with a retail network operating under brands Autobarn and Burson Auto Parts, plus a wholesale operation servicing mechanics. Yesterday the CFO George Saoud resigned after a very short stint (appointed July 2024), and not long after the new Executive Chair/CEO took the reins, ex 7-Eleven boss Angus McKay.
Automotive parts and services company BAP gained +3.2% on Thursday, a distinct laggard finally enjoying some buyers attention.
BAP +2.23% edged higher after a difficult period, things are now looking up at BAP with the interim CEO making some positive progress in 4Q24 ready for the new CEO Angus McKay to start tomorrow;
MM is cautiously bullish towards BAP around 55c
MM is neutral toward BAP~$2
MM is cautiously bullish towards BAP
MM thinks BAP could be a takeover target ~$2.50
MM is neutral towards BAP
MM remains neutral/negative BAP
MM are selling BAP in the Emerging Companies Portfolio, taking a loss around $4.70
MM is looking to switch from BAP to ARB in the Emerging Companies Portfolio
MM is long and bullish BAP
MM remains bullish BAP
Bapcor is one of the largest automotive spare parts and accessories businesses in Australia and New Zealand. The firm principally distributes automotive spare parts and accessories to independent and chain mechanic workshops in Australia and New Zealand through Burson-branded stores. Bapcor also operates a retail automotive spare parts and accessories business in Australia, catering to the do-it-yourself customer, under the AutoPro and Autobarn brands. The networks business is a brand owner and wholesaler of specialized parts.
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