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Ansell
(Sydney:ANN)
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Rating:65Neutral
Price Target:
AU$34.00
▲(25.32% Upside)
Action:Reiterated
Date:03/26/26
The score is primarily supported by solid financial fundamentals and an attractive valuation (low P/E with a moderate dividend), reinforced by a generally positive earnings call with maintained guidance and strong margin/cash conversion. These positives are tempered by weak technicals (below major moving averages with negative MACD) and a decline in free cash flow growth.
Positive Factors
Margin expansion & operational leverage
Material margin expansion (GPADE +220bps; EBIT +180bps) reflects durable cost discipline, procurement savings and pricing power. Sustained higher margins improve cash generation capacity and resilience to input and FX shocks, enabling reinvestment and shareholder returns over time.
Negative Factors
Significant tariff exposure
An $80M annualized tariff is a structural cost headwind requiring sustained price increases or margin absorption. Pricing to offset tariffs can dampen demand in price‑sensitive markets and create a multi‑quarter margin/volume tradeoff, increasing execution risk and potential market share shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin expansion & operational leverage
Material margin expansion (GPADE +220bps; EBIT +180bps) reflects durable cost discipline, procurement savings and pricing power. Sustained higher margins improve cash generation capacity and resilience to input and FX shocks, enabling reinvestment and shareholder returns over time.
Read all positive factors
Ansell (ANN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.45B
Dividend Yield2.19%
Average Volume (3M)358.90K
Price to Earnings (P/E)22.4
Beta (1Y)1.13
Revenue Growth10.92%
EPS Growth16.33%
CountryAU
Employees15,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.96
Shares Outstanding140,313,830
10 Day Avg. Volume341,077
30 Day Avg. Volume358,899
Financial Highlights & Ratios
PEG Ratio1.53
Price to Book (P/B)1.47
Price to Sales (P/S)1.45
P/FCF Ratio17.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$32.96Price Target Upside21.50% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)1.51
Revenue Forecast (FY)AU$2.16B
Ansell Business Overview & Revenue Model
Company Description
Ansell Limited is a global enterprise that conceptualizes, innovates, and produces protective equipment for various industries across numerous regions, including Asia Pacific, Europe, the Middle East, Africa, the Americas, and the Caribbean. The c...
How the Company Makes Money
Ansell makes money primarily by manufacturing and selling PPE to institutional and industrial customers through a mix of direct sales and distribution channels. Its revenue is largely driven by (1) Healthcare products—most notably single-use medic...
Ansell Earnings Call Summary
Earnings Call Date:Feb 15, 2026
(Q2-2026)
| Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and financial story: margins expanded materially (GPADE +220bps, EBIT margin +180bps to 14.3%), adjusted EPS and EBIT grew strongly and cash conversion was robust (112%). Management reported being on track to fully offset an $80M annualized U.S. tariff impact through pricing and mitigation, delivered KBU integration synergies and maintained FY26 EPS guidance of $1.37–$1.49 despite FX headwinds. Key challenges remain—tariff-driven market disruption in some regions (notably Mexico), volume declines in lower‑margin exam/commodity products, FX pressures and one-off integration/digital transformation costs—but these were positioned as manageable versus the company’s margin and cash strength.Positive Updates
Adjusted Sales Growth (after one-off removal)
Reported organic constant currency sales declined 0.6% in H1, but after removing $27M of prior-period one-off sales the company delivered adjusted organic sales growth of ~2.1% year-over-year.
Negative Updates
Reported Sales Decline and Volume Pressure
Reported organic constant currency sales were down 0.6% in H1 and certain lower‑margin/exam single-use volumes declined (medical exam glove volumes were a notable offset to sales), indicating some ongoing volume weakness in commodity product areas.
Read all updates
Q2-2026 Updates
Positive
Negative
Adjusted Sales Growth (after one-off removal)
Reported organic constant currency sales declined 0.6% in H1, but after removing $27M of prior-period one-off sales the company delivered adjusted organic sales growth of ~2.1% year-over-year.
Read all positive updates
Company Guidance
Management maintained FY26 adjusted EPS guidance of $1.37–$1.49, despite a roughly $5m FX headwind for the year (≈$1.5m H1, ≈$3.5m H2) and an annualized ~$80m U.S. tariff cost they say is on track to be fully offset by pricing and other mitigations; H1 adjusted EPS was $0.663 (almost 20% YoY), sales were down 0.6% organic CC but +2.1% on an adjusted basis after stripping a $27m one‑off, GPADE margin improved 220bps, EBIT grew 15.4% with margin up 180bps to 14.3%, cash conversion normalized at 112%, ROCE was 11.9% and ROE 10.1%; H1 net capex was $28m, significant items $7.3m, SG&A +0.4% with ~ $6m of KBU synergies, buybacks of $47m (net interest‑bearing debt up ≈$20m) left net debt/EBITDA at 1.5x and working capital ~ $23m lower versus June ’25.Ansell Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.07B | 2.00B | 1.62B | 1.66B | 1.95B | 2.03B |
| Gross Profit | 866.20M | 825.00M | 624.80M | 616.70M | 625.19M | 807.21M |
| EBITDA | 313.94M | 260.20M | 202.30M | 275.20M | 291.90M | 385.64M |
| Net Income | 138.74M | 101.60M | 76.50M | 148.30M | 158.70M | 246.70M |
Balance Sheet | ||||||
| Total Assets | 3.33B | 3.32B | 3.24B | 2.52B | 2.51B | 2.74B |
| Cash, Cash Equivalents and Short-Term Investments | 254.17M | 238.30M | 912.30M | 159.03M | 206.18M | 240.21M |
| Total Debt | 912.82M | 805.60M | 857.20M | 493.15M | 485.74M | 515.53M |
| Total Liabilities | 1.32B | 1.34B | 1.33B | 913.07M | 949.48M | 1.17B |
| Stockholders Equity | 1.97B | 1.96B | 1.89B | 1.60B | 1.54B | 1.55B |
Cash Flow | ||||||
| Free Cash Flow | 170.68M | 170.00M | 208.60M | 95.37M | 127.71M | 72.17M |
| Operating Cash Flow | 240.72M | 239.30M | 272.30M | 161.72M | 191.71M | 155.40M |
| Investing Cash Flow | -79.84M | -703.30M | -63.40M | -75.50M | -71.20M | -84.70M |
| Financing Cash Flow | -188.88M | -216.00M | 540.80M | -149.20M | -176.70M | -267.50M |
Ansell Technical Analysis
Positive
27.13
Price Trends
28.37
Positive
28.91
Positive
31.49
Positive
Market Momentum
1.04
Positive
63.83
Neutral
43.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ANN, the sentiment is Positive. The current price of 27.13 is below the 20-day moving average (MA) of 30.91, below the 50-day MA of 28.37, and below the 200-day MA of 31.49, indicating a bullish trend. The MACD of 1.04 indicates Positive momentum. The RSI at 63.83 is Neutral, neither overbought nor oversold. The STOCH value of 43.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ANN.
Ansell Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$42.96B | 20.08 | 24.41% | 0.95% | 8.62% | 14.49% | |
68 Neutral | AU$985.77M | 48.60 | 9.57% | ― | 12.52% | 23.99% | |
65 Neutral | AU$4.45B | 22.42 | 7.05% | 2.19% | 10.92% | 16.33% | |
55 Neutral | AU$49.01M | -103.85 | -0.79% | ― | 6.80% | 98.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$47.39M | -32.78 | -1.32% | ― | 6.20% | 95.19% | |
46 Neutral | AU$31.74M | 17.75 | 8.71% | ― | 17.32% | ― |
* Healthcare Sector Average
AU:ANN
Ansell
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2.16
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Ansell Corporate Events
Ansell Cancels 466,719 Shares in On-Market Buy-Back
Jul 6, 2026
Ansell Limited has announced the cancellation of 466,719 ordinary fully paid shares on the ASX, executed via an on-market buy-back completed on 1 July 2026. The move modestly reduces the company’s issued capital base and reflects an active c...
Ansell Updates Market on Progress of Ongoing Share Buy‑Back
Jun 30, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back of ordinary fully paid ANN securities. The announcement confirms the program remains active and outlines the cumulative numbe...
Ansell Cuts Potential Share Dilution as Incentive Securities Lapse
Jun 24, 2026
Ansell Limited has notified the market of the cessation of certain equity-based incentives, including 39,387 restricted stock units and 70,220 performance share rights, after the conditions attached to these awards were not met or became incapable...
Ansell updates market on progress of on‑market share buy‑back
Jun 22, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program, covering ordinary fully paid shares under code ANN. The company reported that it had repurchased a cumulative 3,699,190 shares p...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
Jun 21, 2026
Ansell Limited has provided an updated notification to the ASX on the progress of its on-market share buy-back program for its ordinary fully paid shares. The latest daily report shows that the company has repurchased a cumulative 3,640,286 shares...
Ansell Names Erik Van den Enden as New Chief Financial Officer
Jun 21, 2026
Ansell Limited has appointed Erik Van den Enden as Chief Financial Officer, effective 1 September 2026, bringing nearly 20 years of international finance leadership experience across consumer goods, telecommunications, and infrastructure. Van den ...
Ansell Issues Daily Update on Ongoing On‑Market Share Buy‑Back
Jun 16, 2026
Ansell Limited has issued an updated notification to the ASX confirming the ongoing execution of its on‑market share buy‑back program for ordinary fully paid shares. The company reported that a total of 3,567,592 shares had been repurc...
Ansell Updates Market on Progress of Ongoing Share Buy-Back
Jun 3, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The latest filing confirms the program remains active and specifies that, as of the day before this notice...
Ansell Updates Investors on Progress of On-Market Share Buy-Back
Jun 1, 2026
Ansell Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX. The company reported that it has repurchased a cumulative total of 3,389,602 shares before the previous trading day...
Ansell Advances On‑Market Share Buy‑Back With Daily Repurchases
May 31, 2026
Ansell Limited has continued its on‑market share buy‑back program, reporting that it had repurchased a total of 3,281,691 ordinary fully paid shares before the previous trading day and a further 107,911 shares on the prior day. The lat...
Ansell Updates Market on Progress of Ongoing Share Buy-Back
May 27, 2026
Ansell Limited has provided an updated notification to the ASX confirming the continuation of its on-market share buy-back program for its ordinary fully paid shares. The company reported that a cumulative 3,245,788 shares had been repurchased pri...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
May 25, 2026
Ansell Limited has provided an updated notification to the Australian Securities Exchange regarding its ongoing on-market share buy-back of ordinary fully paid shares under ticker ANN. The company is using this program as a capital management tool...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
May 24, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that, as of the latest daily update dated 25 May 2026, a total of 3,171,...
Ansell Issues Daily Update on Ongoing On-Market Share Buy-Back
May 22, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that, as of the previous trading day, it had repurchased a cumulative to...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
May 11, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that it had repurchased a cumulative total of 2,999,481 shares prior to ...
Ansell Updates Market on Progress of Ongoing Share Buy-Back
May 10, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The company reported that a cumulative 2,961,132 shares had been repurchased prior to the latest trading d...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
May 7, 2026
Ansell Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares trading under the code ANN. The company reported that a cumulative 2,915,202 shares had been repurcha...
Ansell Cuts Share Count With On-Market Buyback
May 5, 2026
Ansell Limited has disclosed a change in its issued capital following the cancellation of 645,234 ordinary fully paid shares. The cancellation results from an on market share buy back conducted by the company, effective 6 May 2026.The move margina...
Ansell Updates Market on Ongoing On-Market Share Buy-Back Activity
May 4, 2026
Ansell Limited has provided an update on its ongoing on-market share buy-back program for its ordinary fully paid shares traded under the ASX code ANN. The company reported that, as of the latest notification dated 5 May 2026, it had repurchased a...
Ansell Updates Daily On-Market Share Buy-Back Activity
May 3, 2026
Ansell Limited has reported an update to its on-market share buy-back program for ordinary fully paid shares, originally notified in early December 2025. The company disclosed that a total of 2,868,621 shares had been repurchased prior to the most...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
Apr 30, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 2,820,538 shares had been bought back prior to the previ...
Ansell Issues Daily Update on Ongoing On-Market Share Buy-Back
Apr 28, 2026
Ansell Limited has provided an updated notification to the ASX regarding its on-market share buy-back of ordinary fully paid shares. The announcement confirms that, as of 29 April 2026, the company had repurchased a cumulative total of 2,785,228 s...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
Apr 23, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back program for its ordinary fully paid shares. The update, dated 24 April 2026, follows the initial buy‑back notification ...
Ansell Updates Market on Progress of Ongoing Share Buy-Back
Apr 21, 2026
Ansell Limited has provided an updated daily notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The update, dated 22 April 2026, reports that the company has bought back a cumulative ...
Ansell Updates Market on Progress of Ongoing Share Buy‑Back
Apr 20, 2026
Ansell Limited reported an update to its ongoing on‑market share buy‑back program for its ordinary fully paid shares, ANN, on 21 April 2026. The latest daily notification shows a cumulative 2,602,133 shares repurchased before the previ...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
Apr 19, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back program for its ordinary fully paid shares. As of the latest reporting date on 20 April 2026, the company reported a cumulati...
Ansell Updates Market on Progress of On-Market Share Buy-Back
Apr 16, 2026
Ansell Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The update, dated 17 April 2026, confirms that the company continues to execute buy-backs as ...
Ansell Continues On‑Market Buy‑Back, Lifts Total to Over 2.3 Million Shares
Apr 15, 2026
Ansell Limited has provided an update on its ongoing on‑market share buy‑back program, confirming that it repurchased 49,679 ordinary fully paid shares on the previous trading day. This brings the cumulative total bought back under the...
Ansell Updates Market on Ongoing On‑Market Share Buy‑Back
Apr 13, 2026
Ansell Limited has reported an update to its ongoing on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code ANN. The latest notification shows that, as of 14 April 2026, the company has repurchased a c...
Ansell Updates Market on Progress of On‑Market Share Buy‑Back
Apr 12, 2026
Ansell Limited has provided a daily update on its ongoing on‑market share buy‑back, confirming that 32,795 ordinary fully paid shares were repurchased on the previous trading day. This lifts the cumulative number of shares bought back ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.