Financials Temple & Webster Group Ltd

Equities

TPW

AU000000TPW5

Home Furnishings Retailers

Market Closed - Australian S.E. Other stock markets 02:10:14 2024-05-09 am EDT			5-day change	1st Jan Change
10.36 ^AUD	-17.91%		-8.64%	+18.81%

May. 09	Temple & Webster Group Reiterates EBITDA Margin Guidance as Sales Jump; Shares Down 11%	MT
Feb. 14	Jarden Research Adjusts Temple & Webster’s Price Target to AU$12.67 From AU$8.56, Keeps at Buy	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	152	715.7	1,300	400.1	707.1	1,230	-	-
Enterprise Value (EV) ¹	138.4	679	1,208	299.1	627	1,124	1,109	1,081
P/E ratio	42.5 x	54.1 x	100 x	35.5 x	89.8 x	215 x	129 x	55.1 x
Yield	-	-	-	-	-	0.01%	0.05%	0.27%
Capitalization / Revenue	1.5 x	4.06 x	3.98 x	0.94 x	1.79 x	2.47 x	2 x	1.65 x
EV / Revenue	1.36 x	3.85 x	3.7 x	0.7 x	1.58 x	2.26 x	1.8 x	1.45 x
EV / EBITDA	126 x	79.9 x	58.9 x	18.5 x	42.4 x	96.7 x	67.8 x	29.3 x
EV / FCF	38.2 x	26.9 x	51.6 x	37.7 x	32.2 x	42.3 x	50.1 x	34.8 x
FCF Yield	2.62%	3.72%	1.94%	2.66%	3.1%	2.36%	2%	2.87%
Price to Book	9.64 x	24.3 x	15.5 x	3.89 x	6.56 x	11.8 x	11.2 x	8.6 x
Nbr of stocks (in thousands)	112,557	113,423	120,453	120,515	120,252	118,703	-	-
Reference price ²	1.350	6.310	10.79	3.320	5.880	10.36	10.36	10.36
Announcement Date	7/30/19	7/27/20	7/26/21	8/15/22	8/14/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	101.6	176.3	326.3	426.3	396	497.7	614.7	746.4
EBITDA ¹	1.1	8.5	20.5	16.2	14.8	11.62	16.35	36.92
EBIT ¹	0.834	7.863	18.9	13.1	9.5	6.145	11.36	33.18
Operating Margin	0.82%	4.46%	5.79%	3.07%	2.4%	1.23%	1.85%	4.45%
Earnings before Tax (EBT) ¹	0.982	8.017	19.16	13.25	11.9	9.955	15.76	34.93
Net income ¹	3.764	13.91	13.95	11.97	8.3	5.875	9.357	21.45
Net margin	3.7%	7.89%	4.28%	2.81%	2.1%	1.18%	1.52%	2.87%
EPS ²	0.0318	0.1167	0.1075	0.0935	0.0655	0.0482	0.0805	0.1881
Free Cash Flow ¹	3.624	25.27	23.43	7.942	19.44	26.57	22.13	31.03
FCF margin	3.57%	14.33%	7.18%	1.86%	4.91%	5.34%	3.6%	4.16%
FCF Conversion (EBITDA)	329.45%	297.32%	114.28%	49.02%	131.36%	228.7%	135.38%	84.05%
FCF Conversion (Net income)	96.28%	181.7%	167.91%	66.36%	234.24%	452.18%	236.55%	144.68%
Dividend per Share ²	-	-	-	-	-	0.001430	0.004710	0.0277
Announcement Date	7/30/19	7/27/20	7/26/21	8/15/22	8/14/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	74.1	102.2	161.6	164.7	235.4	191	207.1	188.9	253.8	254.7	-	-
EBITDA	2.1	6.2	14.8	5.7	12	4.2	7.3	7.5	7.473	-	7.5	7.5
EBIT	1.992	5.87	14.27	4.634	10.6	2.5	5	4.6	-	-	-	-
Operating Margin	2.69%	5.74%	8.83%	2.81%	4.5%	1.31%	2.41%	2.44%	-	-	-	-
Earnings before Tax (EBT)	2.046	5.971	14.54	4.62	10.65	2.602	6.017	5.9	-	-	-	-
Net income	2.926	10.98	12.17	1.784	7.272	4.696	3.874	4.4	-	-	-	-
Net margin	3.95%	10.75%	7.53%	1.08%	3.09%	2.46%	1.87%	2.33%	-	-	-	-
EPS ²	0.0241	0.0926	0.0950	0.0125	0.0568	0.0367	0.0304	0.0351	0.0330	0.0250	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/3/20	7/27/20	2/1/21	7/26/21	2/8/22	8/15/22	2/13/23	8/14/23	2/12/24	-	-	-

¹AUD in Million²AUD

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	13.5	36.7	91.4	101	80.1	106	121	148
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	3.62	25.3	23.4	7.94	19.4	26.6	22.1	31
ROE (net income / shareholders' equity)	29.4%	38.6%	24.5%	12.8%	7.89%	5.6%	8.99%	19.9%
ROA (Net income/ Total Assets)	12.4%	17.8%	12.9%	7.51%	4.6%	4%	6.41%	14.9%
Assets ¹	30.3	78.33	107.8	159.3	180.5	147.1	146	144.4
Book Value Per Share ²	0.1400	0.2600	0.7000	0.8500	0.9000	0.8800	0.9300	1.210
Cash Flow per Share ²	-	0.2100	0.1900	0.1000	0.1700	0.1400	0.1500	0.2800
Capex ¹	0.54	0.23	1.08	5.45	2.56	3.37	3.91	4.97
Capex / Sales	0.53%	0.13%	0.33%	1.28%	0.65%	0.68%	0.64%	0.67%
Announcement Date	7/30/19	7/27/20	7/26/21	8/15/22	8/14/23	-	-	-

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

Ratings for Temple & Webster Group Ltd

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

10.36 AUD

Average target price

11.59 AUD

Spread / Average Target

+11.83%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Home Furnishings Retailers

	1st Jan change	Capi.
TEMPLE & WEBSTER GROUP LTD	+18.81%	985M
WILLIAMS-SONOMA, INC.	+57.82%	19.59B
NITORI HOLDINGS CO., LTD.	+9.27%	14.81B
RH	+0.91%	5.11B
DUNELM GROUP PLC	-7.02%	2.56B
LEON'S FURNITURE LIMITED	+24.39%	1.12B
NICK SCALI LIMITED	+19.40%	856M
BRISCOE GROUP LIMITED	-1.34%	597M
HAVERTY FURNITURE COMPANIES, INC.	-18.56%	465M
ADAIRS LIMITED	+6.08%	235M

Other Home Furnishings Retailers