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Brambles
(Sydney:BXB)
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Rating:69Neutral
Price Target:
AU$20.50
▲(9.57% Upside)
Action:Downgraded
Date:08/21/26
The score is driven primarily by solid underlying financial performance (healthy profitability and improving ROE) and a generally constructive earnings outlook with defined actions to address operational issues. Offsetting factors include margin and free-cash-flow variability, plus weaker technical trend signals with the stock trading below key moving averages.
Positive Factors
Profitable growth and improving returns
Brambles is converting modest revenue growth into stronger earnings and returns through pricing, cost management and productivity. The improvement supports durable profitability and indicates operating initiatives can offset uneven volumes over the medium term.
Negative Factors
U.S. repair constraints remain an earnings drag
Repair capacity shortages, labor constraints and subcontractor exits have impaired pallet availability and service levels. Although remediation is underway, the carryover cost and first-half impact can constrain earnings and customer onboarding over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitable growth and improving returns
Brambles is converting modest revenue growth into stronger earnings and returns through pricing, cost management and productivity. The improvement supports durable profitability and indicates operating initiatives can offset uneven volumes over the medium term.
Read all positive factors
Brambles (BXB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$25.11B
Dividend Yield3.34%
Average Volume (3M)3.34M
Price to Earnings (P/E)19.3
Beta (1Y)0.56
Revenue Growth0.86%
EPS Growth7.65%
CountryAU
Employees12,000
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)0.71
Shares Outstanding1,335,712,300
10 Day Avg. Volume4,297,659
30 Day Avg. Volume3,338,599
Financial Highlights & Ratios
PEG Ratio1.16
Price to Book (P/B)5.66
Price to Sales (P/S)2.54
P/FCF Ratio20.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$21.80Price Target Upside16.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.74
Revenue Forecast (FY)AU$7.29B
Brambles Business Overview & Revenue Model
Company Description
Brambles Limited operates as a leading supply chain logistics enterprise. The company's operations are strategically divided into several geographic segments: CHEP North America and Latin America; CHEP Europe, Middle East, Africa, and India; and C...
How the Company Makes Money
Brambles makes money primarily through a pooled-asset “share and reuse” model in which it owns reusable load carriers (e.g., pallets and crates) and provides customers access to them for a fee rather than selling the assets outright. Key revenue s...
Brambles Earnings Call Summary
Earnings Call Date:Aug 19, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call presented a predominantly constructive financial and operational picture—revenue growth, margin expansion, ROCE and EPS improvement, strong free cash flow (>USD 1bn) and meaningful shareholder returns—while also transparently disclosing a material operational issue in the U.S. (repair capacity constraints) that reduced FY '26 earnings by USD 90 million and will cause a near-term earnings drag into FY '27 (USD 35–55 million guidance). Management outlined clear remediation plans (additional pallets purchased, subcontractor transitions, automation, end-of-line inspections, specialist response teams) and reiterated medium-term targets (margin improvement toward FY '28 and total value creation >10%). Given the scale of the positive financial outcomes and the credible recovery and investment plans to address the U.S. disruption, the highlights meaningfully outweigh the lowlights.Positive Updates
Full-Year Revenue Growth
Group sales revenue increased 2% in FY '26, driven by strong new business growth and price realization which more than offset lower like-for-like volumes.
Negative Updates
U.S. Repair Capacity Constraints and Earnings Impact
Repair capacity constraints in parts of the U.S. network produced a USD 90 million adverse underlying profit impact in FY '26 (plus USD 40 million additional pooling CapEx), driven by increased repair intensity, labor shortages, subcontractor exits and a Q4 demand spike that constrained pallet availability and onboarding of new business.
Read all updates
Q4-2026 Updates
Positive
Negative
Full-Year Revenue Growth
Group sales revenue increased 2% in FY '26, driven by strong new business growth and price realization which more than offset lower like-for-like volumes.
Read all positive updates
Company Guidance
Brambles guided FY27 sales revenue growth of 2–4% (equal contributions from price and volume, weighted to H2) and underlying profit growth of 2–6%, with free cash flow before dividends of $800–$950m; pooling CapEx to sales is expected at 13–15% while non‑pooling CapEx is $350–$400m (digital CapEx $120m, including $110m for serialization+), net finance costs +$30m, dividend franking 15% and payout ratio to remain 50–70%, and the company maintains a target of >10% total value creation. Management expects a mid‑to‑high‑single‑digit profit decline in H1 and low‑double‑digit growth in H2, plant & transport cost ratio broadly flat to slightly unfavorable, modest IPEP improvement, and a net FY27 adverse impact from U.S. repair constraints of $35–$55m (short‑term H1 hit $70–$80m, H2 recovery $55–$65m; structural costs $25–$35m partly offset by pricing/efficiencies).Brambles Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
67
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.20B | 6.84B | 6.72B | 6.34B | 5.56B |
| Gross Profit | 1.49B | 2.36B | 2.32B | 2.18B | 1.94B |
| EBITDA | 2.14B | 1.96B | 2.03B | 1.77B | 1.59B |
| Net Income | 974.94M | 896.00M | 779.90M | 713.20M | 593.30M |
Balance Sheet | |||||
| Total Assets | 9.80B | 9.57B | 8.73B | 9.25B | 8.47B |
| Cash, Cash Equivalents and Short-Term Investments | 76.77M | 608.90M | 112.90M | 160.33M | 158.18M |
| Total Debt | 3.03B | 3.22B | 2.64B | 2.88B | 2.88B |
| Total Liabilities | 6.57B | 6.22B | 5.50B | 5.85B | 5.48B |
| Stockholders Equity | 3.23B | 3.35B | 3.23B | 2.86B | 2.45B |
Cash Flow | |||||
| Free Cash Flow | 906.07M | 900.90M | 668.40M | 302.70M | -81.82M |
| Operating Cash Flow | 2.03B | 1.83B | 1.80B | 1.99B | 1.59B |
| Investing Cash Flow | -955.94M | -658.70M | -940.90M | -1.51B | -1.50B |
| Financing Cash Flow | -1.61B | -686.70M | -896.20M | -476.10M | -329.10M |
Brambles Technical Analysis
Negative
18.71
Price Trends
19.37
Negative
19.92
Negative
21.44
Negative
Market Momentum
-0.02
Positive
42.95
Neutral
25.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BXB, the sentiment is Negative. The current price of 18.71 is below the 20-day moving average (MA) of 19.71, below the 50-day MA of 19.37, and below the 200-day MA of 21.44, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 42.95 is Neutral, neither overbought nor oversold. The STOCH value of 25.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BXB.
Brambles Peers Comparison
UnderperformOutperform
Sector (63)
AU:BXB
Brambles
19.08
-6.57
-25.61%
AU:MAD
Mader Group Ltd
7.07
-1.23
-14.82%
Brambles Corporate Events
Brambles Seeks ASX Quotation for New Shares Issued Under Employee Scheme
Aug 21, 2026
Brambles Limited has applied for quotation on the ASX of 12,600 new ordinary fully paid shares under its existing code BXB, with an issue date of 21 August 2026. The new securities arise from an employee incentive scheme and, once quoted, will mod...
Brambles Files 2026 Corporate Governance Statement with ASX
Aug 19, 2026
Brambles has lodged its 2026 Corporate Governance Statement with the Australian Securities Exchange, outlining how the company complies with relevant governance standards and listing rules. The filing, accompanied by an Appendix 4G, underscores th...
Brambles to Webcast Full-Year 2026 Financial Results
Aug 19, 2026
Brambles has scheduled a webcast presentation of its full-year results for the period ended 30 June 2026, to be delivered by CEO Graham Chipchase and CFO Joaquin Gil at 10.00am AEST on 20 August 2026. The accompanying slide deck and webcast are be...
Brambles Declares Interim Dividend for Half-Year to June 2026
Aug 19, 2026
Brambles Limited, a global logistics provider specialising in pooled pallets and containers for supply-chain customers, is listed on the ASX under the code BXB and serves manufacturers, retailers, and distributors across key international markets....
Brambles Posts Higher 2026 Earnings and Boosts Dividend Payout
Aug 19, 2026
Brambles has reported its financial results for the year ended 30 June 2026, posting a 6% rise in sales revenue to US$7.04 billion and a 9% increase in operating profit to US$1.49 billion, with profit from continuing operations up 10% to US$948.5 ...
Brambles Sets Key FY26 Results, Dividend and AGM Dates
Aug 4, 2026
Brambles Limited has released its timetable for the end of the 2026 financial year, setting out key corporate dates for investors and stakeholders. The company will close director nominations on 19 August, report its FY26 results on 20 August, and...
Brambles Issues New Unquoted Share Rights Under Employee Incentive Scheme
Aug 3, 2026
Brambles Limited, a global logistics and supply-chain specialist focused on pallet and container pooling solutions, serves major retail, manufacturing, and industrial customers. Its reusable asset model is designed to improve efficiency and lower ...
Brambles Updates Market on Changes to CEO Graham Chipchase’s Equity Holdings
Aug 3, 2026
Brambles has notified the Australian Securities Exchange of a change in director Graham Chipchase’s indirect interests in the company’s securities, in line with mandatory disclosure rules. The update reflects additional ordinary shares...
Brambles Reports Lapse of 69,350 Conditional Share Rights
Jul 3, 2026
Brambles Limited has notified the cessation of 69,350 share rights, recorded under the ASX code BXBAI, following the lapse of conditional rights that could not be satisfied by the specified deadline of 30 June 2026. The announcement, lodged on 3 J...
Brambles Issues New Unquoted Share Rights Under Employee Incentive Plan
Jul 3, 2026
Brambles Limited has notified the ASX of the issue of 92,476 unquoted share rights under its employee incentive scheme, with an issue date of June 30, 2026. These securities, classified as BXBAI SHARE RIGHTS, form part of Brambles’ ongoing e...
Brambles Corrects MyShare Plan Reporting Error in Appendix 3H
Jul 1, 2026
Brambles Limited has corrected an administrative error in a previously lodged Appendix 3H relating to its MyShare employee share plan, after one participant was misclassified as an “other leaver” instead of a “good leaver.”...
Brambles Appeals Federal Court Class Action Judgment
Jul 1, 2026
Brambles Limited, a global logistics solutions provider operating mainly under the CHEP brand, manages hundreds of millions of reusable pallets, crates and containers across roughly 60 countries. With significant operations in North America and Eu...
Brambles Updates Market on Director Graham Chipchase’s Shareholdings
Jun 30, 2026
Brambles Limited has notified the Australian Securities Exchange of a change in the relevant interests of director Graham Chipchase in the company’s securities, as required under ASX Listing Rule 3.19A.2. The update reflects indirect interes...
Brambles Reports Daily Progress on On-Market Share Buy-Back
Jun 22, 2026
Brambles 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 8,178,060 shares prior to the lat...
Brambles Cancels Nearly 1.9 Million Shares in On-Market Buy-Back
Jun 21, 2026
Brambles Limited has announced the cessation of 1,943,252 ordinary fully paid shares, following their cancellation under an on-market share buy-back program effective 23 June 2026. The reduction in issued capital through this buy-back may enhance ...
Brambles Updates Market on Daily Progress of On‑Market Share Buy‑Back
Jun 21, 2026
Brambles Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code BXB. The company disclosed that a total of 6,234,808 securities had been repurchased before the pre...
Brambles Cancels 691,489 Shares in On‑Market Buy‑Back
Jun 19, 2026
Brambles Limited has cancelled 691,489 fully paid ordinary shares as part of an on‑market buy‑back, effective 22 June 2026. The reduction in issued capital reflects the company’s continued use of buy‑backs as a capital mana...
Brambles Advances On‑Market Share Buy-Back With Daily Update
Jun 18, 2026
Brambles Limited has continued its on-market share buy-back program, reporting that it has repurchased a total of 5,543,319 ordinary fully paid shares prior to the latest trading day. The company disclosed that a further 691,489 shares were bought...
Brambles Seeks ASX Quotation for Employee Incentive Shares
Jun 18, 2026
Brambles Limited has applied for quotation of two ordinary fully paid shares on the ASX, issued under an employee incentive scheme. While the number of new securities is minimal, the move reflects ongoing utilisation of equity-based remuneration, ...
Brambles Seeks Quotation of New Shares Issued Under Employee Incentive Scheme
Jun 18, 2026
Brambles Limited has applied for quotation on the ASX of 124 ordinary fully paid shares issued under an employee incentive scheme. The newly issued securities, which are not subject to transfer restrictions, will be quoted from 18 June 2026, repre...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
Jun 18, 2026
Brambles Limited has applied for quotation on the ASX of 2,212 ordinary fully paid shares under its employee incentive scheme, with the securities issued on 18 June 2026. The small issuance, which is not subject to transfer restrictions, reflects ...
Brambles Updates Market on Progress of On‑Market Share Buy‑Back
Jun 17, 2026
Brambles Limited, which trades on the ASX under ticker BXB and has ordinary fully paid shares on issue, reported an update to its ongoing on‑market share buy‑back program as part of its regular capital management activities. The compan...
Brambles Cancels 794,319 Shares Following On‑Market Buy‑Back
Jun 16, 2026
Brambles Limited has notified the market of a reduction in its issued capital following the cancellation of 794,319 ordinary fully paid shares. The shares ceased on 18 June 2026 as a result of an on‑market buy‑back, reflecting the comp...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
Jun 16, 2026
Brambles Limited has applied for quotation on the ASX of 3,415 new fully paid ordinary shares under its employee incentive scheme. The additional securities, to be traded under the existing BXB ticker, slightly increase the company’s issued ...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
Jun 16, 2026
Brambles Limited has applied for quotation on the ASX of 407 ordinary fully paid shares, to be issued on 16 June 2026 under an employee incentive scheme. The small issuance forms part of its ongoing equity-based remuneration arrangements, marginal...
Brambles Cancels 316,926 Shares Under On-Market Buy-Back
Jun 16, 2026
Brambles Limited has cancelled 316,926 fully paid ordinary shares as part of its on-market share buy-back program, reducing the company’s issued capital. The move signals ongoing capital management efforts, which can support earnings per sha...
Brambles Advances On-Market Buy-Back with Daily Share Repurchases
Jun 9, 2026
Brambles Limited has provided an update on its on-market share buy-back program involving its ordinary fully paid shares traded under the ASX code BXB. The company reported that a cumulative 3,172,955 shares had been repurchased prior to the most ...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
Jun 9, 2026
Brambles Limited has applied for quotation on the ASX of 5,200 ordinary fully paid shares, to be traded under its existing ticker BXB. These securities have been issued on 9 June 2026 under an employee incentive scheme and are not subject to trans...
Brambles Cancels 723,093 Shares Under On‑Market Buy-Back
Jun 4, 2026
Brambles Limited has cancelled 723,093 fully paid ordinary shares as part of its ongoing on‑market share buy-back program. The reduction in issued capital is designed to return surplus capital to shareholders and may enhance earnings per sha...
Brambles Updates Market on Progress of On‑Market Share Buy‑Back
Jun 4, 2026
Brambles Limited has provided an update on its on‑market share buy‑back program, confirming that it is repurchasing its ordinary fully paid shares listed under the ASX code BXB. The company reported that a total of 2,449,862 shares had...
Brambles Cancels 592,871 Shares Under On‑Market Buy‑Back
Jun 4, 2026
Brambles Limited has cancelled 592,871 fully paid ordinary shares on 3 June 2026 as part of an on‑market share buy‑back programme. The reduction in issued capital marginally increases ownership for remaining shareholders and signals co...
Brambles Cancels Over 1 Million Shares in On-Market Buy-Back
Jun 3, 2026
Brambles has cancelled 1,041,724 fully paid ordinary shares on the ASX as part of an on-market share buy-back program, effective 5 June 2026. The reduction in issued capital is expected to be marginally accretive to remaining shareholders and refl...
Brambles Cancels 815,267 Shares Under On-Market Buy-Back
Jun 3, 2026
Brambles Limited has cancelled 815,267 ordinary fully paid shares as part of an on-market buy-back, reducing its issued capital under the ASX code BXB. The move reflects the company’s ongoing capital management strategy, which may improve ca...
Brambles Updates Market on Progress of On‑Market Share Buy‑Back
Jun 2, 2026
Brambles Limited has provided an updated notification to the ASX regarding its on‑market share buy‑back of ordinary fully paid shares, under the previously announced program that commenced in May 2026. The update, dated 3 June 2026, re...
Brambles Updates Market on Daily On-Market Share Buy-Back Activity
Jun 1, 2026
Brambles Limited has provided an update to the market regarding its on-market share buy-back program for its ordinary fully paid securities. The company reported that 592,871 shares were repurchased on the previous trading day, with no shares havi...
Brambles Updates Market on Change to CEO Graham Chipchase’s Equity Holdings
Jun 1, 2026
Brambles has notified the Australian Securities Exchange of a change in director Graham Chipchase’s indirect interest in the company’s securities, as required under listing rule 3.19A.2. The update reflects issuance of ordinary shares ...
Brambles Issues New Unquoted Share Rights Under Employee Incentive Plan
Jun 1, 2026
Brambles Limited has issued 104,866 unquoted share rights under its employee incentive scheme, effective 29 May 2026, as disclosed in an Appendix 3G filing. The securities are not intended to be quoted on the ASX, signalling the company’s co...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
May 22, 2026
Brambles has applied for quotation on the ASX of 3,399 new ordinary fully paid shares, which have been issued under an employee incentive scheme. The newly issued shares are not subject to transfer restrictions and will be quoted from 22 May 2026,...
Brambles Seeks ASX Quotation for New Shares Issued Under Employee Incentive Plan
May 22, 2026
Brambles Limited has applied for quotation on the ASX of 36,564 new ordinary fully paid shares under its code BXB. The newly issued shares arise from an employee incentive scheme and will be quoted from 22 May 2026, marginally increasing the compa...
Brambles Seeks ASX Quotation for New Employee Incentive Shares
May 21, 2026
Brambles Limited has applied to the ASX for quotation of 2,551 ordinary fully paid shares issued on 21 May 2026 under an employee incentive scheme. The new securities, which are not subject to transfer restrictions, will be quoted under the compan...
Brambles Seeks ASX Listing for New Employee Incentive Shares
May 21, 2026
Brambles Limited has applied to the Australian Securities Exchange for quotation of 38,925 ordinary fully paid shares issued under its employee incentive scheme. The new BXB securities, which are not subject to transfer restrictions, were issued o...
Brambles Cancels 419,350 Shares Under On‑Market Buy‑Back
May 21, 2026
Brambles Limited has updated the market on changes to its issued capital, confirming it operates under the ASX code BXB and maintains ordinary fully paid shares on issue. The company continues to adjust its capital base through market transactions...
Brambles Continues On-Market Share Buy-Back Program With Daily ASX Update
May 21, 2026
Brambles Limited has issued an updated notification to the ASX confirming ongoing on-market buy-backs of its ordinary fully paid shares under its existing program, first announced in August 2025. The latest daily disclosure shows that the company ...
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.