Wesfarmers Limited (WFAFF)
NEUTRALFundamental
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 · SchmalBunnings, 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 zyklischThe 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
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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
Innerer Wert
$78.09
Aktueller Kurs
$82.69
Sicherheitsmarge
-5.9%
Innerer-Wert-Spanne
$65.12 - $91.07
Bewertungsmethoden
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
Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit
Gewinnqualität
Niedrige Qualität: Rechnungslegung prüfen
Aktienverwässerung
Aktienanzahl ist stabil
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Robert Geoffrey Scott | MD, CEO & Director | 55 |
| Mr. Anthony Natale Gianotti | Chief Financial Officer | 56 |
| Ms. Aleksandra Spaseska | CFO & Managing Director of Kmart Group | - |
| Mr. Michael Schneider | MD of Bunnings Group and MD of Bunnings Australia & New Zealand | 54 |
| Dan Harloe | Investor Relations Manager | - |
| Ms. Maya vanden Driesen | Group General Counsel | - |
| Rebecca Keenan | Media & Public Affairs Manager | - |
| Ms. Jennifer Bryant | Chief Human Resources Officer | - |
| Ms. Marina Joanou | Managing Director of Target | - |
| Damian McGloughlin | Managing 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.