Breville Group Limited (AU:BRG)
ASX:BRG
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Breville Group
(Sydney:BRG)
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Rating:68Neutral
Price Target:
AU$33.00
▲(14.62% Upside)
Action:DowngradedDate:03/26/26
The score is supported by strong financial quality (profitability, low leverage) and a positive earnings-call outlook highlighting growth and tariff-mitigation progress, plus a relatively low P/E. These are tempered by clearly weak technicals (downtrend and negative momentum) and some cash flow/near-term tariff and working-capital uncertainties.
Positive Factors
Consistent Revenue Growth
Breville’s consistent top-line expansion, including +10.1% H1 growth and revenue doubling over six years, signals structural demand for premium small appliances and successful new product development. This supports sustained channel relationships and long-term revenue resilience across cycles.
Negative Factors
U.S. Tariff Risk and Cash Impact
Material tariffs have already required sizable cash outlays and compressed gross margins, and unresolved regulatory outcomes (Supreme Court, USMCA renewal) create lingering policy risk. Even with diversification this external uncertainty can reintroduce step changes to costs and margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Breville’s consistent top-line expansion, including +10.1% H1 growth and revenue doubling over six years, signals structural demand for premium small appliances and successful new product development. This supports sustained channel relationships and long-term revenue resilience across cycles.
Read all positive factors
Breville Group (BRG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.37B
Dividend Yield1.24%
Average Volume (3M)499.83K
Price to Earnings (P/E)10.8
Beta (1Y)1.27
Revenue Growth10.86%
EPS Growth3.00%
CountryAU
Employees1,079
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)0.67
Shares Outstanding144,838,560
10 Day Avg. Volume634,068
30 Day Avg. Volume499,833
Financial Highlights & Ratios
PEG Ratio2.36
Price to Book (P/B)4.36
Price to Sales (P/S)2.50
P/FCF Ratio59.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$37.24Price Target Upside29.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.94
Revenue Forecast (FY)AU$1.85B
Breville Group Business Overview & Revenue Model
Company Description
Breville Group Limited designs, develops, markets, and distributes small electrical kitchen appliances in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers kitchen appliances, including slow cookers, kettles, ...
How the Company Makes Money
Breville Group makes money primarily by selling small kitchen appliances and related accessories under its owned brands. Revenue is predominantly generated from wholesale sales to retail partners (e.g., major electronics, department, homewares and...
Breville Group Earnings Call Summary
Earnings Call Date:Feb 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 24, 2026
Earnings Call Sentiment Positive
The call conveyed a positive operational and financial outcome for H1 FY26: record revenue (+10.1% to $1.1B), successful and timely manufacturing diversification (80% of U.S. gross profit sourced outside China), contained gross margin decline (‑130 bps) with gross profit growth (+6.3%), and an improved cash/net debt position (net cash $70.1M at Jan 31). Management acknowledged material near‑term headwinds from U.S. tariffs (funded $42M in cash payments) and distributor timing effects, but they have largely mitigated the impact through relocation, selective pricing, channel mix and continued investment in NPD, services and AI. Given the number and scale of positives — record sales, operational diversification, improving balance sheet and clear plans to realize further localization and AI efficiency gains — outweighing the manageable and largely one‑time tariff and timing challenges, the overall sentiment from the call is positive, while noting some near‑term uncertainties that will be monitored into FY27.Positive Updates
Record Revenue and Strong Growth
Group sales of $1.1 billion in H1 FY26, up 10.1% year‑on‑year; revenue has doubled over the last six years, driven by resilient premium consumer demand and NPD (new product development).
Negative Updates
Material U.S. Tariff Headwind and Cash Impact
Significant U.S. tariffs increased COGS and required $42M of cash payments in H1; tariffs drove a 130 basis point gross margin decline and introduced ongoing uncertainty (Supreme Court ruling pending, USMCA renewal in July, potential new tariffs).
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Strong Growth
Group sales of $1.1 billion in H1 FY26, up 10.1% year‑on‑year; revenue has doubled over the last six years, driven by resilient premium consumer demand and NPD (new product development).
Read all positive updates
Company Guidance
Management guided to a slight uptick in FY26 EBIT versus FY25 (noting FY26 absorbs the large U.S. tariff hit), with FY27 running off that FY26 baseline if the U.S. tariff program remains unchanged; they expect a positive mix benefit in H2 FY26 and into H1 FY27 as 120‑volt production outside China increases (target achieved: 80% of U.S. gross profit sourced outside China by Dec‑2025), an earlier inventory build for the FY27 peak (starting March vs prior July) so reported June inventory will be higher, and a step‑up in depreciation & amortization in H2 as recent store‑in‑store and tooling CapEx amortizes; these expectations sit alongside H1 results of revenue +10.1% to $1.1bn, gross profitability +6.3% despite a 130 basis‑point gross margin decline, H1 EBIT $145.8m (flat; +$1.0m / +0.7%), OpEx investment of $12.9m (~60% of the OpEx increase) in new markets/marketing/D&A, net debt $43.6m at 31‑Dec (0.2x LTM EBITDA) improving to net cash $70.1m at 31‑Jan, receivables peak $515.7m (+7.6% YoY), flat inventory YoY, and a fully‑franked interim dividend of $0.19 (+5.6%).Breville Group Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.80B | 1.70B | 1.53B | 1.48B | 1.42B | 1.19B |
| Gross Profit | 348.71M | 620.48M | 556.94M | 287.73M | 296.94M | 268.97M |
| EBITDA | 278.06M | 269.55M | 243.40M | 214.69M | 186.13M | 162.38M |
| Net Income | 136.56M | 135.85M | 118.51M | 110.21M | 105.72M | 90.97M |
Balance Sheet | ||||||
| Total Assets | 1.80B | 1.48B | 1.34B | 1.37B | 1.18B | 770.64M |
| Cash, Cash Equivalents and Short-Term Investments | 176.84M | 105.74M | 137.77M | 84.16M | 168.26M | 129.91M |
| Total Debt | 344.18M | 118.46M | 155.98M | 280.49M | 222.16M | 38.72M |
| Total Liabilities | 749.94M | 507.50M | 492.86M | 605.19M | 564.74M | 264.15M |
| Stockholders Equity | 1.05B | 973.71M | 848.21M | 769.66M | 614.42M | 506.49M |
Cash Flow | ||||||
| Free Cash Flow | 136.72M | 71.07M | 240.50M | 37.01M | -84.84M | 93.15M |
| Operating Cash Flow | 189.20M | 171.47M | 302.62M | 90.25M | -42.15M | 124.27M |
| Investing Cash Flow | -104.23M | -100.21M | -61.86M | -132.85M | -42.65M | -91.69M |
| Financing Cash Flow | -25.00M | -106.31M | -186.41M | -48.88M | 121.53M | -26.86M |
Breville Group Technical Analysis
Neutral
28.79
Price Trends
29.20
Negative
29.64
Negative
30.32
Negative
Market Momentum
-0.12
Negative
55.59
Neutral
57.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BRG, the sentiment is Neutral. The current price of 28.79 is above the 20-day moving average (MA) of 27.26, below the 50-day MA of 29.20, and below the 200-day MA of 30.32, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 55.59 is Neutral, neither overbought nor oversold. The STOCH value of 57.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BRG.
Breville Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$4.37B | 10.83 | 13.51% | 1.24% | 10.86% | 3.00% | |
68 Neutral | AU$8.47B | 8.60 | 29.31% | 2.54% | 8.60% | 4.98% | |
63 Neutral | AU$5.61B | 6.72 | 11.55% | 3.73% | 9.50% | 29.80% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | AU$355.19M | 11.07 | -69.14% | 4.00% | 4.41% | -2505.17% | |
55 Neutral | AU$702.40M | 71.03 | 5.66% | ― | 18.85% | 20.89% | |
42 Neutral | AU$483.77M | 4.67 | -22.14% | 6.38% | 30.31% | -737.99% |
* Consumer Cyclical Sector Average
AU:BRG
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Breville Group Corporate Events
Breville Confirms Lapse of 8,504 Performance Rights
Apr 2, 2026
Breville Group Limited has notified the market of the cessation of 8,504 performance rights, recorded under the ASX security code BRGAN. The performance rights lapsed on March 31, 2026, after the conditions attached to those rights were not met or...
State Street Group Ceases to Be Substantial Holder in Breville Group
Apr 1, 2026
Breville Group Limited has disclosed that State Street Global Advisors and related State Street Corporation subsidiaries have ceased to be substantial shareholders in the company. The notice, lodged under Australian Corporations Act requirements, ...
Greencape Capital Exits Substantial Holding in Breville Group
Mar 20, 2026
Greencape Capital has notified the market that it has ceased to be a substantial shareholder in Breville Group, lodging the required notice with the ASX. The change in holding reduces Greencape’s significant voting interest in the appliance ...
State Street Group Ceases to Be Substantial Holder in Breville Group
Mar 19, 2026
State Street Corporation, through a group of its asset management and trust subsidiaries, has notified Breville Group Limited that it has ceased to be a substantial shareholder in the Australian appliance maker as of 17 March 2026. The change refl...
Breville Director Timothy Baxter Increases Holding via Fee Sacrifice Rights Issue
Mar 19, 2026
Breville Group Limited has reported a change in the interests of director Timothy Baxter, reflecting his participation in the company’s Non-Executive Director Fee Sacrifice Scheme. Baxter has been issued 3,070 rights under the NED Plan, valu...
Breville Director Sally Herman Increases Equity Stake via Fee Sacrifice Scheme
Mar 19, 2026
Breville Group Limited has disclosed a change in the interests of non-executive director Sally Herman, in line with ASX reporting requirements. Herman holds ordinary shares directly and through superannuation-related entities, reflecting a mix of ...
Breville Issues New Unquoted NED Rights Under Director Incentive Scheme
Mar 19, 2026
Breville Group Limited has notified the ASX of the issue of 4,605 unquoted NED Rights as part of its employee incentive framework for non‑executive directors. The rights, which will not be quoted on the exchange, were issued on March 19, 202...
State Street Group Ceases to Be Substantial Holder in Breville Group
Mar 2, 2026
State Street Corporation, through several asset management subsidiaries including State Street Global Advisors, has lodged a notice indicating it has ceased to be a substantial holder in Breville Group Limited. The filing, made under Australian Co...
State Street Group Ceases to Be Substantial Holder in Breville Group
Feb 5, 2026
State Street Corporation and several of its asset management subsidiaries, including State Street Global Advisors entities, have lodged a notice that they have ceased to be substantial shareholders in Breville Group Limited as of 3 February 2026, ...
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.