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Wesfarmers Limited (WFAFF)

NEUTRAL
Consumer CyclicalHome Improvement RetailAustralia

Fundamental

64

Kurs

$82.69

Marktkapitalisierung

$93.49B

Teil 1 · Was das Unternehmen wert ist

Übersicht

Wesfarmers is an Australian conglomerate that owns a group of separately run retail and industrial businesses rather than making one product itself. Its best-known chains are Bunnings (hardware and home improvement), Kmart and Target (discount department stores) and Officeworks (office and stationery retail), alongside a health and pharmacy retail arm and a chemicals, energy and fertiliser manufacturing business, WesCEF. Each business keeps its own brand, stores and management, competing separately in its own market.

Wie das Geld verdient wird

Revenue is largely ordinary retail sales — customers paying at the checkout in thousands of Bunnings, Kmart, Target and Officeworks stores and online across Australia and New Zealand — plus industrial sales of chemicals, explosives and fertiliser to mining and farming customers. Bunnings and Kmart Group are by far the largest contributors, each generating tens of billions of Australian dollars a year; Officeworks and WesCEF are considerably smaller. Profit depends mainly on how well each division executes in its own market, not a single group-wide driver.

Wettbewerbsvorteil

Marke · Schmal

Bunnings, by far the group's largest earner, is Australia's dominant home-improvement retailer, with a scale of stores and supplier relationships that a new entrant would take years to match, and a brand many Australian households default to without comparison shopping. That advantage is real for Bunnings but does not automatically extend to Wesfarmers' other, less dominant retail chains.

Was die Nachfrage antreibt

Mäßig zyklisch

The group mixes defensive and discretionary demand: home-improvement and pharmacy spending tend to hold up reasonably well in a downturn, while discount department store sales at Kmart and Target and office-supplies sales at Officeworks are more sensitive to household budgets. WesCEF's chemicals and fertiliser business adds exposure to commodity prices and agricultural cycles that have little to do with Australian consumer spending at all.

Die Argumente dafür

Buyers argue that spreading across several leading retail brands and an industrial chemicals business smooths out a downturn in any single one, that Bunnings' scale advantage keeps compounding profit growth, and that FY2025's double-digit profit rise across most divisions shows the model still working.

Die Argumente dagegen

Sellers worry that a conglomerate this size is hard to grow quickly from its current base, that WesCEF's earnings already fell as commodity prices weakened, and that discretionary chains like Kmart, Target and Officeworks remain exposed to a slowdown in Australian household spending.

Written by the editors, published on 18. August 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Bilanz & Liquidität

Umsatz

$46.46B

Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie

Nettogewinn

$3.06B

Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie

Freier Cashflow

$3.42B

Gesamtes Eigenkapital

$9.19B

Gesamtverbindlichkeiten

$18.79B

Current Ratio

1.19

Zinsdeckungsgrad

24.34

Schulden/EBITDA

2.10

Gewinn je Aktie

Umsatz & Nettogewinn

Freier Cashflow

Ertragsaufschlüsselung

Historische Aufstellung

Margen im Zeitverlauf

Verschuldung im Zeitverlauf

Wie schwer die Schulden wiegen

Wachstumsraster

Wachstum — Umsatz

Innerer-Wert-Schätzung

Fair bewertet

Innerer Wert

$78.09

Aktueller Kurs

$82.69

Sicherheitsmarge

-5.9%

Innerer-Wert-Spanne

$65.12 - $91.07

Bewertungsmethoden

Analyst Target:$77.05
DCF:$86.81
PE-based:$85.32
Graham Growth:$74.70
EPV:$37.84
Analystenkonsens:Verkaufen (1B / 8H / 11S)
Letzte Gewinnüberraschung:+1.90%

Bewertungskennzahlen

P/E-Verhältnis

30.50

ROE

31.8%

P/B-Verhältnis

11.90

P/FCF

27.32

Bruttomarge

34.3%

ROIC

15.4%

Rentabilitäts-Radar

Value Creation (Economic Moat)

ROIC

15.4%

WACC

7.6%

ROIC − WACC

+7.7 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Fundamentalanalyse-Kriterien

Bestanden (17)

  • EPS shows upward trend
  • EPS CAGR 7.48%
  • Price CAGR 11.14%
  • ROIC 15.4%
  • Gross Margin 34.3%
  • P/FCF 27.32
  • Debt/Equity ratio
  • Operating Margin 10.0%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • ROE 35.9%
  • Revenue Growth 5Y 8.2%
  • Share Dilution 0.1%
  • Net Margin Trend 6.4% vs 5.8%
  • Piotroski F-Score 6/9

Nicht bestanden (7)

  • P/B Ratio 11.90
  • CapEx intensity
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Analyst Consensus 5% Buy
  • Earnings Surprise avg 1.1%
  • PEG Ratio 2.89

Nicht verfügbar (4)

  • Dividend Payout NaN%
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Earnings Quality (OCF/Net Income)

Piotroski F-Score

6/9

Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit

score
criteria

Gewinnqualität

-

Niedrige Qualität: Rechnungslegung prüfen

Aktienverwässerung

0.1%

Aktienanzahl ist stabil

Unternehmensführung

Führungsteam

NamePositionAlter
Mr. Robert Geoffrey ScottMD, CEO & Director55
Mr. Anthony Natale GianottiChief Financial Officer56
Ms. Aleksandra SpaseskaCFO & Managing Director of Kmart Group-
Mr. Michael SchneiderMD of Bunnings Group and MD of Bunnings Australia & New Zealand54
Dan HarloeInvestor Relations Manager-
Ms. Maya vanden DriesenGroup General Counsel-
Rebecca KeenanMedia & Public Affairs Manager-
Ms. Jennifer BryantChief Human Resources Officer-
Ms. Marina JoanouManaging Director of Target-
Damian McGloughlinManaging Director of BUKI-

Prüfungsrisiko

4

Vorstandsrisiko

2

Vergütungsrisiko

3

Aktionärsrechterisiko

1

Teil 2 · Der Preis und der Einstiegszeitpunkt

Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.

Latest News

Recent headlines for WFAFF, sourced from Markets Gazette.

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