JB Hi-Fi Limited (JBH) AI Stock Analysis

• Market Cap: AU$8.32B
• Dividend Yield: 2.54%
• Average Volume (3M): 246.75K
• Price to Earnings (P/E): 8.6
• Beta (1Y): 1.04
• Revenue Growth: 10.03%
• EPS Growth: 5.38%
• Country: AU
• Employees: 15,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 2.79
• Shares Outstanding: 109,333,984
• 10 Day Avg. Volume: 259,666
• 30 Day Avg. Volume: 246,745
• PEG Ratio: 4.75
• Price to Book (P/B): 7.46
• Price to Sales (P/S): 1.14
• P/FCF Ratio: 19.17
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$91.59
• Price Target Upside: 20.35% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): 4.62
• Revenue Forecast (FY): AU$11.21B

• Rating: 68 Neutral
• Price Target: AU$83.00 ▲(9.07% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily supported by solid financial fundamentals (revenue growth, stable gross margin, and manageable leverage), but is held back by declining profitability and slowing free cash flow growth. Technically, the stock shows weaker longer-term momentum (below 50/100/200-day averages with a negative MACD), while valuation is moderately supportive with a ~3% dividend yield and a mid-range P/E.

Positive Factors

Stable gross margin & steady revenue

Consistent revenue growth with a stable ~22% gross margin indicates the company retains pricing power and effective merchandise sourcing. Over 2–6 months this supports margin sustainability, funds reinvestment in stores/online channels, and helps absorb supplier or cost pressures without immediate margin erosion.

Strong operating cash generation

Solid operating cash flow and a high FCF-to-net-income ratio (0.88) demonstrate durable cash conversion from earnings. This underpins capacity to fund capex, pay dividends, reduce debt, or invest in omnichannel capabilities, providing financial flexibility through business cycles over the medium term.

Scale and diversified sales channels

A multi-brand retail footprint and B2B/government channels create diversified revenue streams and bargaining leverage with suppliers. Scale across stores and online supports rapid inventory turnover, promotional funding from vendors, and structural advantages that persist beyond short-term demand swings.

Negative Factors

Declining profitability margins

A falling net margin (4.38%) alongside weaker EBIT/EBITDA margins signals rising operating costs or intensifying price competition. If sustained, these margin contractions erode returns on sales and limit reinvestment capacity, requiring structural cost or mix improvements to restore long-term profitability.

Slowing free cash flow growth

A 10.1% decline in free cash flow growth indicates diminishing incremental cash generation from operations or higher working capital demands. Over months this can constrain funding for strategic initiatives, dividends, or debt reduction unless operational efficiency or cash conversion is restored.

Weaker return on equity

Declining ROE points to less effective use of equity capital to generate profit, potentially from margin pressure or suboptimal capital allocation. Persistent weakness would limit shareholder returns and could require management action on product mix, pricing, or capital deployment to improve long-term investment efficiency.

JB Hi-Fi Limited Business Overview & Revenue Model

Company Description

JB Hi-Fi Limited, together with its subsidiaries, retails home consumer products. The company operates through three segments: JB Hi-Fi Australia, JB Hi-Fi New Zealand, and The Good Guys. It provides computers, such as laptops, desktop PCs, iPads, tablets, eBook readers, monitors and projectors, printers and ink, storage devices, keyboards and mouse, computer accessories, as well as software, and home internet and wi-fi products; televisions; headphones, speakers, and audio devices; and smart home appliances. The company also offers mobile phones; gaming devices, such as Xbox, Nintendo, PlayStation, and PC and retro gaming devices; music and vinyl products; movies and TV shows; and collectibles and merchandise, including apparel, card and board games, and jigsaw puzzles. In addition, it provides content creator gears for vloggers and influences, game streamers, podcasters, and music producers and DJs; cameras; drones and e-scooters; and fitness, health, and wellbeing products, such as smart watches, fitness trackers, massagers, health monitors, air treatment devices, sleep solutions, smart drink bottles, as well as shavers and trimmers, and hair and oral care products. Further, the company offers home appliances consisting of washers and dryers, fridges and freezers, dishwashers, vacuuming and cleaning products, small kitchen appliances, microwaves, coffee and beverages machines and accessories, and heating, cooling, and air treatment products. Additionally, it provides information technology and consulting services. As of June 30, 2022, the company sold its products through branded retail store network comprising 199 JB Hi-Fi/JB Hi-Fi Home stores in Australia; 14 JB Hi-Fi stores in New Zealand; and 106 The Good Guys stores in Australia, as well as online. JB Hi-Fi Limited was founded in 1974 and is based in Southbank, Australia.

How the Company Makes Money

JB Hi-Fi makes money primarily by selling products purchased from suppliers and brands, earning a retail margin between its buying cost and the final selling price (net of discounts). Its key revenue streams are (1) in-store and online product sales across JB Hi-Fi (consumer electronics, computing, communications, games/software, audio/TV, accessories) and (2) The Good Guys (major domestic appliances and related home products), with revenue recognized at the point of sale/dispatch. The company also generates income from services and ancillary offerings attached to product sales, including extended warranties and product protection plans, delivery and installation services (particularly for appliances), and other service fees where applicable. A further earnings contributor is commercial/B2B sales (often referred to as JB Hi-Fi Solutions), supplying technology products and related services to business, education, and government customers, typically via account-based procurement and project orders. Supplier and brand relationships support earnings through access to branded ranges, negotiated wholesale pricing, promotional funding, and retail marketing programs that can improve margins and drive sales volumes; the company’s scale, store network, and online channels help it turn inventory quickly and capture high-traffic retail demand, which is central to its profitability.

JB Hi-Fi Limited Financial Statement Overview

Summary

Solid overall fundamentals: revenue grew 4.5% and gross margin is stable (~22%), supported by manageable leverage (debt-to-equity 0.44). Offsetting this, net/EBIT/EBITDA margins have declined and free cash flow growth is down 10.1%, indicating profitability and cash generation pressures.

Income Statement

JB Hi-Fi Limited has demonstrated consistent revenue growth, with a 4.5% increase in the latest year. The gross profit margin remains stable at around 22%, indicating efficient cost management. However, the net profit margin has slightly decreased to 4.38%, reflecting increased operational costs or competitive pressures. The EBIT and EBITDA margins have also seen a decline, suggesting potential challenges in maintaining operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved slightly to 0.44, indicating a stable leverage position. The equity ratio is healthy, reflecting a strong asset base relative to liabilities. However, the return on equity has decreased over the years, suggesting a need for more effective utilization of shareholder funds to generate profits.

Cash Flow

Operating cash flow remains strong, but there is a notable decline in free cash flow growth, down by 10.1%. The free cash flow to net income ratio is robust at 0.88, indicating good cash generation relative to profits. However, the decline in free cash flow growth could signal potential liquidity challenges if not addressed.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	10.97B	10.55B	9.59B	9.63B	9.23B	8.92B
Gross Profit	2.46B	2.36B	2.14B	2.18B	2.08B	1.98B
EBITDA	1.05B	925.90M	864.40M	973.80M	991.50M	934.30M
Net Income	482.80M	462.40M	438.80M	524.60M	544.90M	506.10M
Balance Sheet
Total Assets	4.30B	3.88B	3.49B	3.49B	3.16B	3.15B
Cash, Cash Equivalents and Short-Term Investments	489.50M	284.10M	317.70M	177.30M	125.60M	263.20M
Total Debt	1.25B	714.40M	657.40M	655.10M	604.40M	631.30M
Total Liabilities	2.62B	2.26B	1.93B	2.08B	1.88B	1.84B
Stockholders Equity	1.68B	1.62B	1.56B	1.42B	1.28B	1.31B
Cash Flow
Free Cash Flow	574.60M	629.30M	678.10M	644.40M	569.80M	501.00M
Operating Cash Flow	665.10M	711.60M	752.60M	716.40M	627.40M	558.70M
Investing Cash Flow	-90.10M	-122.90M	-74.40M	-71.70M	-57.40M	-57.70M
Financing Cash Flow	-641.50M	-622.40M	-537.90M	-593.10M	-707.20M	-489.30M

JB Hi-Fi Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 76.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:JBH, the sentiment is Negative. The current price of 76.1 is below the 20-day moving average (MA) of 80.42, below the 50-day MA of 82.49, and below the 200-day MA of 99.30, indicating a bearish trend. The MACD of -1.51 indicates Positive momentum. The RSI at 36.99 is Neutral, neither overbought nor oversold. The STOCH value of 27.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:JBH.

JB Hi-Fi Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUL	71 Outperform	AU$3.00B	8.69	16.46%	7.20%	4.83%	-7.62%
JBH	68 Neutral	AU$8.32B	8.60	29.31%	2.54%	10.03%	5.38%
BLX	63 Neutral	AU$423.14M	9.38	16.86%	2.86%	1.89%	-3.30%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
KGN	61 Neutral	AU$366.28M	11.07	-69.14%	4.00%	6.24%	-23341.18%
ADH	60 Neutral	AU$271.33M	6.10	8.37%	5.85%	3.99%	-18.35%
TPW	55 Neutral	AU$839.52M	71.03	5.66%	―	20.66%	543.24%

JB Hi-Fi Limited Corporate Events

JB Hi-Fi Director Increases Indirect Shareholding via Family Trust

JB Hi-Fi has disclosed a change in director Christy Boyce’s indirect interest in the company’s shares. Through CVF Australia Pty Ltd, as trustee of a family trust in which she is a beneficiary, Boyce acquired 1,100 ordinary shares on market for $85,368, increasing her indirect holding from 900 to 2,000 shares.

The on-market purchase signals a higher personal financial exposure by the director to JB Hi-Fi’s equity, which can be viewed by investors as a demonstration of confidence in the retailer’s prospects. The company stated there was no related change in any contracts or closed-period trading conditions linked to this transaction.

The most recent analyst rating on (AU:JBH) stock is a Hold with a A$82.00 price target. To see the full list of analyst forecasts on JB Hi-Fi Limited stock, see the AU:JBH Stock Forecast page.

JB Hi-Fi Updates Interim Dividend Notice With Current FX Details

JB Hi-Fi Limited has updated its previously announced interim dividend notification for the six months to 31 December 2025, relating to its ordinary fully paid shares. The update, lodged with the ASX on 4 March 2026, solely reflects the current exchange rate details for the dividend, while key dates such as the ex-date of 26 February 2026 and record date of 27 February 2026 remain unchanged, providing clarity for shareholders on the finalised payment terms.

The most recent analyst rating on (AU:JBH) stock is a Hold with a A$97.00 price target. To see the full list of analyst forecasts on JB Hi-Fi Limited stock, see the AU:JBH Stock Forecast page.

JB Hi-Fi Director Sheila Lines Increases Indirect Shareholding

JB Hi-Fi has disclosed a change in director Sheila Lines’ indirect shareholding, lodged with the ASX in line with governance and disclosure requirements. Through an on-market purchase executed via J.P. Morgan Nominees Australia on behalf of her family trust, Lines increased her holding from 400 to 1,000 ordinary shares at a cost of $48,850.

The notice confirms there were no associated changes in any contracts or derivative interests, and no trades occurred during a closed period requiring prior written clearance. The transaction underscores ongoing director alignment with shareholders through increased equity exposure, with no immediate operational or strategic implications flagged for the business or its stakeholders.

The most recent analyst rating on (AU:JBH) stock is a Hold with a A$97.00 price target. To see the full list of analyst forecasts on JB Hi-Fi Limited stock, see the AU:JBH Stock Forecast page.

JB Hi-Fi Director Christy Boyce Increases Indirect Shareholding

JB Hi-Fi Limited has disclosed a change in director Christy Boyce’s indirect shareholding, lodged with the ASX under director interest notification rules. The filing shows that Boyce, through CVF Australia Pty Ltd as trustee of a family trust, purchased 500 ordinary shares on-market on 23 February 2026 for about $42,275, increasing her indirect holding from 400 to 900 shares, with no related contracts or closed-period trading issues reported.

The most recent analyst rating on (AU:JBH) stock is a Hold with a A$97.00 price target. To see the full list of analyst forecasts on JB Hi-Fi Limited stock, see the AU:JBH Stock Forecast page.

JB Hi-Fi Issues Small Parcel of Shares on Conversion of Unquoted Equity

JB Hi-Fi Limited has notified the market of the issue of a small number of ordinary fully paid shares resulting from the exercise or conversion of previously unquoted equity securities. The new JBH shares, issued on various dates in November 2025, reflect routine equity administration rather than a major capital-raising, signalling ongoing operation of employee or incentive schemes without materially altering the company’s capital structure or ownership dynamics.

The most recent analyst rating on (AU:JBH) stock is a Buy with a A$120.00 price target. To see the full list of analyst forecasts on JB Hi-Fi Limited stock, see the AU:JBH Stock Forecast page.