20 minute delayed
Join Market Matters and get full access to all our Opinion + Action
Undervalued
Morningstar Quantitative Rating as of 29 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 3.42 Fair value 3.93 One-star price 4.51
Morningstar Quantitative Rating as of 29 OCT 2026.
Morningstar Quantitative Rating as of 29 OCT 2026. The slider runs from the five-star price (3.42) to the one-star price (4.51).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 3.21 |
| Price - 12 month high | 3.98 |
| Price - 12 month low | 2.63 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 3.72 |
| Market capitalization | 3,530.12 |
| 12 Month High price date | 13 NOV 2025 |
| 12 Month Low price date | 5 MAY 2026 |
| Volume - avg. trading volume for the last 3 months | 3.44 |
| Price - 1 Day % Change | 0.94% |
| Price - 13 week price percent change | 3.22% |
| Price - 26 week price percent change | 15.47% |
| Price - 5 Day % Change | 0.94% |
| Price - 52 week price percent change | -16.41% |
| Price - YTD price percent change | -2.73% |
| Price % Change Month To Date | 11.46% |
| EPS excluding extraordinary items - most recent fiscal year | 0.253 |
| EPS excluding extraordinary items - trailing 12 month | 0.253 |
| EPS Normalized - most recent fiscal year | 0.244 |
| Revenue/share - most recent fiscal year | 15.731 |
| Revenue/share - trailing 12 month | 15.731 |
| Book value per share - most recent fiscal year | 1.552 |
| Book value per share - most recent half-year | 1.552 |
| Book value (tangible) per share - most recent fiscal year | 0.160 |
| Book value (tangible) per share - most recent half-year | 0.160 |
| Cash per share - most recent fiscal year | 0.061 |
| Cash per share - most recent half-year | 0.061 |
| Cash Flow per share - most recent fiscal year | 0.506 |
| Cash Flow per share - trailing 12 month | 0.506 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.180 |
| EBITD per share - trailing 12 month | 0.695 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.254 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.254 |
| EPS including extraordinary items - most recent fiscal year | 0.254 |
| EPS including extraordinary items - trailing 12 month | 0.254 |
| Free Cash Flow per share - trailing 12 month | 0.347 |
| P/E excluding extraordinary items, most recent fiscal year | 12.69 |
| P/E Normalized, most recent fiscal year | 13.17 |
| Price to sales - most recent fiscal year | 0.20 |
| Price to Tangible Book - most fiscal year | 22.01 |
| Price to Free Cash Flow per Share - most recent fiscal year | 9.25 |
| Price to Cash Flow per share - trailing 12 month | 6.35 |
| Price to Book - most recent fiscal year | 2.07 |
| P/E excluding extraordinary items high, trailing 12 months | 15.39 |
| P/E excluding extraordinary items low, trailing 12 months | 10.27 |
| Net Debt, LFI | 1,791.80 |
| Net Debt, LFY | 1,833.10 |
| Dividend Yield - 5 Year Average | 5.38% |
| Dividend Yield - indicated annual dividend divided by closing price | 5.66% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 5.61% |
| Free Cash Flow - most recent fiscal year | 382.80 |
| LT debt/equity - most recent fiscal year | 93.97% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 110.36% |
| LT debt/equity - most recent half-year | 98.07% |
| Total debt/total equity - most recent half-year | 112.43% |
| Free Cash Flow - trailing 12 month | 382.80 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 17,354.00 |
| Revenue - trailing 12 month | 17,354.00 |
| EBITD - most recent fiscal year | 766.70 |
| EBITD - trailing 12 month | 766.70 |
| Earnings before taxes - most recent fiscal year | 385.00 |
| Earnings before taxes - trailing 12 month | 385.00 |
| Net Income available to common - most recent fiscal year | 279.10 |
| Net Income available to common - trailing 12 months | 279.10 |
| Earnings before taxes Normalized - most recent fiscal year | 414.90 |
| Net Income Available to Common, Normalized - most recent fiscal year | 268.80 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.24 |
| Net Profit Margin % - 1st historical fiscal year | 1.62% |
| Net Profit Margin % - trailing 12 month | 1.62% |
| Operating margin - 1st historical fiscal year | 2.85% |
| Operating margin - trailing 12 month | 2.85% |
| Pretax margin - trailing 12 month | 2.22% |
| Pretax margin - 1st historical fiscal year | 2.22% |
| Operating Margin - 5 year average | 2.99% |
| Pretax Margin - 5 year average | 2.31% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 2.58% |
| Free Operating Cash Flow/Revenue, TTM | 2.21% |
| Net Profit Margin - 5 year average | 1.63% |
| Return on average assets - most recent fiscal year | 4.00% |
| Return on average assets - trailing 12 month | 4.00% |
| Return on average equity - most recent fiscal year | 16.86% |
| Return on average equity - trailing 12 month | 16.86% |
| Return on average assets - 5 year average | 4.54% |
| Return on average equity - 5 year average | 20.43% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 3.93% |
| EPS growth rate, 5 year | 1.66% |
| Growth rate% - dividend, 3 year | -7.17% |
| Revenue/share (5 yr growth) | 2.42% |
| Growth rate% - Revenue, 3 year | 3.17% |
| Growth rate% - EPS, 3 year | -1.78% |
| Book value per share growth rate, 5 year | 4.39% |
| Capital Spending growth rate, 5 year | — |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 6.94% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | APR 22 | APR 23 | APR 24 | APR 25 | APR 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 |
Metcash (MTS) offers the strongest value of the three major supermarkets trading on 13.1x forward earnings, roughly half Coles (COL) and Woolworths’ (WOW) multiples, with FY27 sales growth remaining positive across Food, Liquor and Hardware business, although weaker hardware margins, tobacco headwinds and cost inflation continue to pressure earnings.
Metcash delivered its FY26 result in June here, with the standout read being earnings had stabilised, but growth was hard to come by - echoes of Coles. Metcash (MTS) is trading on just 12.1x forward earnings, roughly half the multiple of Coles and Woolworths, while early FY27 sales growth has remained positive across Food, Liquor and Hardware.
MTS -1.89%: Released their FY26 result this morning that was broadly in line with expectations & show earnings have stabilised, even if growth remains hard to come by. The group delivered underlying profit of $268.8m, inline with consensus, while sales were broadly flat at $17.35bn.
MTS +6.57%: has been a frustrating holding in the Income Portfolio recently, with the stock weak into today’s update as investors worried about softer hardware conditions, margin pressure, freight costs and broader consumer weakness.
MTS was smacked 9.2% on Monday after delivering a mildly weaker result and updating the market for the first four weeks of 2H FY26, sales were down 1.1%. Total food revenue (ex-tobacco) increased +4.3% in the first four weeks of 2H FY2 sales.
We are making several changes to the Income Portfolio today
Metcash has rallied nicely following stronger-than-expected results in June, and we can see the momentum in the stock pushing shares above $4.
MTS +2.7%: Delivered a strong FY25 result broadly in line with expectations. Underlying profit was slightly down on the year prior, however the struggling Hardware segment showed strong signs of a turnaround.
MTS +3.54%: Upgraded profit guidance upgrade that was in line with analyst estimates, whilst also announcing a key strategic restructure in its Hardware segment. FY25 underlying profit forecast has been upgraded to $273–$277 million, with consensus figures at $274 million.
MTS is forecast to yield 7% fully franked over the next 12 months, which combined with the stability from its business mix should be supportive with rates set to fall in the coming quarters.
MM is long and bullish on MTS for income
MM is bullish on MTS for yield around $2.80
MM remains long & bullish MTS for income
MM remains long & bullish MTS (for Income)
MM likes MTS for yield around $3.40
MM are trimming MTS in the Active Income Portfolio, reducing to a 4% target around $4
MM is now neutral on MTS ~$4
MM remains long and bullish MTS
MM remains long and bullish MTS
MM is long and bullish MTS for yield
Metcash is a wholesaler, and to a lesser extent a retailer, specializing in food, liquor, and hardware. Centralized wholesale distribution enables independent retailers to gain access to the combined scale of many retailers to negotiate material volume discounts.The food segment distributes a range of products and services to independent supermarket and convenience stores. The hardware segment distributes hardware products to independent retail outlets and operates company-owned stores. The liquor segment distributes liquor products to independent retailers and venues like pubs.
Pulse Check Webinar: Opportunities in the unloved parts of the market
Recorded Wednesday 27st September
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.
