KOGAN.COM LIMITED (KGN)
Share Price Analysis and Chart

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KGN

KGN - KOGAN.COM LIMITED

FNArena Sector : Retailing
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 0.5
Index: ALL-ORDS

Australia's number one online retailer, founded by Ruslan Kogan from his parents' Melbourne garage in 2006, at the age of 23. The company listed in mid-2016 and has shown a habit of propping up the share price with positive press releases prior to directors selling shares. CEO Kogan and CFO David Shafer have sold circa $350m worth in shares over the past four years (up until late 2020).

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.35

01 Oct
2025

-0.040

OPEN

$3.39

-1.18%

HIGH

$3.40

568,767

LOW

$3.33

TARGET
$4.733 41.3% upside
Franking for last dividend paid out: 68%
OTHER COMPANIES IN THE SAME SECTOR
ATG . LOV .
FNARENA'S MARKET CONSENSUS FORECASTS
KGN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 39.1 19.3 xxx
DPS (cps) xxx 14.0 12.6 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 6.7% - 10.0% xxx
PE Ratio xxx N/A 17.3 xxx
Dividend Yield xxx N/A 3.8% xxx
Div Pay Ratio(%) xxx N/A 65.2% xxx

Dividend yield today if purchased 3 years ago: 4.78%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.18

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 11/09 - ex-div 7.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-39.1
DPS All xxxxxxxxxxxxxxx14.0
Sales/Revenue xxxxxxxxxxxxxxx487.9 M
Book Value Per Share xxxxxxxxxxxxxxx60.9
Net Operating Cash Flow xxxxxxxxxxxxxxx37.3 M
Net Profit Margin xxxxxxxxxxxxxxx-8.09 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-42.87 %
Return on Invested Capital xxxxxxxxxxxxxxx-37.93 %
Return on Assets xxxxxxxxxxxxxxx-17.27 %
Return on Equity xxxxxxxxxxxxxxx-42.87 %
Return on Total Capital xxxxxxxxxxxxxxx15.69 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx24.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx8 M
Total Debt xxxxxxxxxxxxxxx17 M
Goodwill - Gross xxxxxxxxxxxxxxx46 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx42 M
Price To Book Value xxxxxxxxxxxxxxx6.17

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx4.8 M
Capex % of Sales xxxxxxxxxxxxxxx0.99 %
Cost of Goods Sold xxxxxxxxxxxxxxx298 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx172 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

26/08/2025

3

Neutral

$4.90

46.27%

Neutral rating and $4.90 price target retained at UBS. The FY25 release is considered as largely in line. Gross sales $931m and gross profit $190m slightly beat forecasts (by 1%) and the final 7c DPS proved well ahead of UBS' 1.5c estimate.

Medium-term EBITDA margin aims of 8–12% look achievable, but the broker stays sceptical on 20%-plus long-term. Commentary observes Marketplace grew by 34% y/y and Kogan First momentum remains pivotal.

Mighty Ape drags near term but is guided to profit in 2H26, the report highlights

FY26 EBITDA forecast is lowered -13% to $40.4m and EPS by -16%, while FY27–FY28 see minimal changes.

FORECAST
UBS forecasts a full year FY26 dividend of 13.00 cents and EPS of 16.00 cents.
UBS forecasts a full year FY27 dividend of 19.00 cents and EPS of 24.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

28/08/2025

1

Buy

$7.50

123.88%

Canaccord Genuity notes Kogan.com's FY25 group revenue rose 6% y/y to $488m, beating its forecast of $483m. However, within this kogan.com revenue rose 17% y/y while Mighty Ape revenue fell -17% y/y.

Marketing spend rose 39% y/y to fuel customer acquisitions, and adjusted EBITDA was up 13% y/y to $37m. 

The company expects FY26 EBITDA margin of 6-9% which the broker notes is $32-48m EBITDA. Mighty Ape is expected to be the key swing factor.

The broker cut FY26 EBITDA forecast by -5% and left FY27 unchanged, but sees upside risk if the company can improve revenue growth in line with industry growth.

Buy. Target unchanged at $7.50.
Access Extra Coverage Research History >

KGN STOCK CHART

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