MICHAEL HILL INTERNATIONAL LIMITED (MHJ)
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MHJ

MHJ - MICHAEL HILL INTERNATIONAL LIMITED

FNArena Sector : Luxury
Year End: June
GICS Industry Group : Consumer Durables & Apparel
Debt/EBITDA: 2.07
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.365

02 Oct
2025

0.020

OPEN

$0.36

5.80%

HIGH

$0.37

190,733

LOW

$0.36

TARGET
$0.75 105.5% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
TWE .
FNARENA'S MARKET CONSENSUS FORECASTS
MHJ: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 0.6 3.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.6 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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: 07/03 - ex-div 1.75c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.6
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx643.7 M
Book Value Per Share xxxxxxxxxxxxxxx44.3
Net Operating Cash Flow xxxxxxxxxxxxxxx55.1 M
Net Profit Margin xxxxxxxxxxxxxxx0.33 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx1.24 %
Return on Invested Capital xxxxxxxxxxxxxxx0.63 %
Return on Assets xxxxxxxxxxxxxxx0.39 %
Return on Equity xxxxxxxxxxxxxxx1.24 %
Return on Total Capital xxxxxxxxxxxxxxx7.47 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx46.3 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 xxxxxxxxxxxxxxx39 M
Long Term Debt xxxxxxxxxxxxxxx155 M
Total Debt xxxxxxxxxxxxxxx193 M
Goodwill - Gross xxxxxxxxxxxxxxx19 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx10 M
Price To Book Value xxxxxxxxxxxxxxx0.92

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx10.1 M
Capex % of Sales xxxxxxxxxxxxxxx1.57 %
Cost of Goods Sold xxxxxxxxxxxxxxx500 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx116 M
Research & Development xxxxxxxxxxxxxxx0 M
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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

26/08/2025

1

Outperform

$0.75

105.48%

Michael Hill reported an FY25 result directly in line with the recent trading update. Comparable earnings were broadly flat year on year, Macquarie notes. While trading conditions remained challenging, revenue growth was positive in the second half (except NZ).

Michael Hill successfully offset the impacts of continued aggressive promotional trading conditions and record high gold prices with the introduction and mix of higher margin products, Macquarie notes.

The early FY26 trading update suggests the momentum from the second half has accelerated, and with further rate cuts forecast for NZ and Australia, the broker sees scope for that momentum to build further.

Outperform and 75c target retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.40 cents.
Macquarie forecasts a full year FY27 dividend of 3.10 cents and EPS of 5.40 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

01/09/2025

1

Buy

-

-

Michael Hill's FY25 result showed a positive shift in momentum in the 2H25, though FY25 was broadly flat, with same-store sales (SSS) up just 0.3%. Jarden notes early FY26 trading update was also positive, with group SSS up 3.2% y/y despite NZ lagging.

Group gross margin held steady at around 60.5% despite 51 of 52 weeks being promotional and a rising gold price. Mix-shift toward higher-margin products (notably LAB diamonds) and new vendor/consignment arrangements provided an offset.

The broker pushed out recovery assumptions, resulting in a cut to near-term earnings forecasts.

Buy. Target trimmed to NZ75c from NZ80c.

FORECAST
Jarden forecasts a full year FY26 dividend of 2.00 cents and EPS of 3.40 cents.
Jarden forecasts a full year FY27 dividend of 5.00 cents and EPS of 7.50 cents.
Access Extra Coverage Research History >

MHJ STOCK CHART

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