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Kogan.com Ltd. (AU:KGN)
ASX:KGN

Kogan.com (KGN) AI Stock Analysis

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AU:KGN

Kogan.com

(Sydney:KGN)

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Neutral 47 (OpenAI - 4o)
Rating:47Neutral
Price Target:
AU$3.50
▲(6.38% Upside)
Kogan.com faces significant challenges, primarily due to its financial performance and technical indicators. The company's profitability issues and bearish technical signals weigh heavily on the score. While the dividend yield offers some appeal, the negative P/E ratio and overbought technical indicators suggest caution.
Positive Factors
Revenue Growth
The resumption of revenue growth indicates potential recovery and expansion in market reach, which is crucial for long-term business sustainability.
Cash Flow Generation
Strong cash flow generation enhances financial flexibility, enabling the company to invest in growth opportunities and manage debt effectively.
Leverage Management
Improved leverage management reduces financial risk and enhances the company's ability to withstand economic fluctuations, supporting long-term stability.
Negative Factors
Profitability Challenges
Ongoing profitability issues can hinder reinvestment in business operations and limit the company's ability to compete effectively in the market.
Negative Return on Equity
Negative return on equity indicates inefficient use of shareholder funds, which can deter investment and affect long-term growth prospects.
Valuation Concerns
A negative P/E ratio suggests persistent losses, which can undermine investor confidence and limit access to capital for future growth initiatives.

Kogan.com (KGN) vs. iShares MSCI Australia ETF (EWA)

Kogan.com Business Overview & Revenue Model

Company DescriptionKogan.com Ltd operates as an online retailer in Australia. The company offers various brands across a range of categories, including electronics, appliances, homewares, hardware, toys, and others; and owns and operates 20 private label brands. It also provides pre-paid mobile phone plans online; and directly sourced holiday packages and travel bookings. In addition, the company offers general insurances, including home, contents, landlord, car, and travel insurances, as well as pet and life insurance; NBN internet plans; and home loans. Further, it provides superannuation funds, credit cards, telecommunications services, and power and gas services, as well as trades in cars. The company provides its products under the company's brands, such as Kogan, Ovela, Fortis, Vostok, and Komodo, as well as products sourced from imported and domestic third party brands comprising Apple, Canon, Swann, and Samsung. The company was founded in 2006 and is based in Melbourne, Australia.
How the Company Makes MoneyKogan.com generates revenue through several key streams, primarily driven by the sale of consumer electronics and home goods on its online platform. The company adopts a low-price model, often offering products at competitive rates to attract price-sensitive customers. Kogan also engages in third-party marketplace sales, allowing other retailers to sell their products on its site, which provides additional income through commission fees. Subscription services, such as Kogan Mobile and Kogan Insurance, create recurring revenue streams by offering mobile phone plans and insurance products. Furthermore, strategic partnerships and collaborations with brands and suppliers enhance product offerings and can lead to increased sales and marketing opportunities, contributing significantly to Kogan's overall earnings.

Kogan.com Financial Statement Overview

Summary
Kogan.com is experiencing mixed financial results. Revenue growth has resumed, but profitability remains a challenge with negative EBIT and net income margins. The balance sheet shows improved leverage, and cash flow performance is strong, indicating better cash generation capabilities. However, sustained efforts are needed to achieve consistent profitability.
Income Statement
45
Neutral
Kogan.com has experienced fluctuating revenue growth, with a recent positive growth rate of 0.804% after a period of decline. However, profitability remains a concern, as evidenced by negative EBIT and net income margins. The gross profit margin has improved slightly, but the company is still facing challenges in achieving sustainable profitability.
Balance Sheet
55
Neutral
The company's debt-to-equity ratio has improved over the years, indicating better leverage management. However, the return on equity remains negative, reflecting ongoing profitability challenges. The equity ratio is relatively stable, suggesting a balanced asset structure, but the company needs to improve its profitability to enhance shareholder returns.
Cash Flow
60
Neutral
Kogan.com has shown strong free cash flow growth, indicating improved cash generation capabilities. The operating cash flow to net income ratio is positive, suggesting efficient cash conversion. However, the company needs to maintain this momentum to support its operations and address profitability issues.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue488.11M488.11M459.70M488.38M717.60M779.39M
Gross Profit189.91M189.91M168.44M135.44M183.52M202.36M
EBITDA31.68M31.68M38.09M-19.12M-21.43M23.15M
Net Income-39.47M-39.47M83.00K-25.85M-35.46M3.54M
Balance Sheet
Total Assets190.15M190.15M243.43M274.06M360.31M455.29M
Cash, Cash Equivalents and Short-Term Investments42.27M42.27M41.34M65.44M66.23M91.69M
Total Debt16.66M16.66M23.04M15.73M57.53M94.53M
Total Liabilities129.62M129.62M119.83M106.34M187.67M274.56M
Stockholders Equity60.53M60.53M123.60M167.72M172.64M180.73M
Cash Flow
Free Cash Flow36.96M36.96M23.17M66.70M56.28M-67.76M
Operating Cash Flow37.29M37.29M28.19M70.86M61.84M-63.03M
Investing Cash Flow-4.90M-4.90M-15.96M-18.05M-32.78M-55.69M
Financing Cash Flow-31.57M-31.57M-36.39M-53.79M-54.24M63.76M

Kogan.com Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.29
Price Trends
50DMA
3.22
Positive
100DMA
3.50
Negative
200DMA
3.85
Negative
Market Momentum
MACD
0.05
Negative
RSI
53.47
Neutral
STOCH
67.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KGN, the sentiment is Negative. The current price of 3.29 is above the 20-day moving average (MA) of 3.20, above the 50-day MA of 3.22, and below the 200-day MA of 3.85, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 53.47 is Neutral, neither overbought nor oversold. The STOCH value of 67.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:KGN.

Kogan.com Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
AU$106.17M139.511.90%1.58%-65.09%
66
Neutral
AU$55.73M12.6612.71%8.97%8.39%3.21%
65
Neutral
AU$182.11M12.1316.91%6.87%-0.35%-1.96%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
58
Neutral
€352.01M13.5911.70%5.98%3.99%-18.35%
56
Neutral
AU$371.00M38.768.94%4.72%465.60%
47
Neutral
$337.80M-40.52%4.26%6.24%-23341.18%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:KGN
Kogan.com
3.29
-2.25
-40.64%
AU:ADH
Adairs Ltd.
1.76
-0.85
-32.73%
AU:DSK
Dusk Group Ltd.
0.79
-0.29
-26.85%
AU:ABY
Adore Beauty Group Ltd.
1.26
0.34
36.96%
AU:SSG
Shaver Shop Group Ltd.
1.46
0.24
19.67%
AU:BBN
Baby Bunting Group Ltd.
2.57
0.86
50.29%

Kogan.com Corporate Events

Kogan.com Updates on Market Buy-Back Program
Dec 3, 2025

Kogan.com has announced an update regarding its ongoing on-market buy-back program. As of December 4, 2025, the company has repurchased a total of 9,626,588 ordinary fully paid securities, with 137,873 bought back on the previous day alone. This buy-back initiative is part of Kogan.com’s strategy to enhance shareholder value and optimize its capital structure, reflecting a positive outlook on its financial health and market position.

Kogan.com Updates on Ongoing Share Buy-Back Program
Dec 2, 2025

Kogan.com has announced an update regarding its ongoing on-market buy-back program. As of December 3, 2025, the company has repurchased a total of 9,488,715 ordinary fully paid securities, including 60,144 bought back on the previous day. This buy-back initiative is part of Kogan.com’s strategy to manage its capital structure and potentially enhance shareholder value.

Kogan.com Updates on Share Buy-Back Program
Dec 1, 2025

Kogan.com has announced an update regarding its ongoing share buy-back program. As of December 2, 2025, the company has repurchased a total of 9,428,571 ordinary fully paid securities, including 95,140 shares bought back on the previous day. This buy-back initiative is part of Kogan.com’s strategy to optimize its capital structure and potentially enhance shareholder value.

Kogan.com Updates on Share Buy-Back Program
Nov 27, 2025

Kogan.com has announced an update regarding its ongoing share buy-back program, with a total of 9,303,843 securities bought back before the previous day and an additional 29,588 securities purchased on the previous day. This strategic move is part of Kogan.com’s efforts to optimize its capital structure and potentially enhance shareholder value, reflecting a proactive approach to managing its financial resources.

Kogan.com Updates on Share Buy-Back Progress
Nov 26, 2025

Kogan.com has announced an update regarding its ongoing share buy-back program, with a total of 9,264,215 securities bought back before the previous day and an additional 39,628 securities acquired on the previous day. This buy-back initiative is part of the company’s strategy to enhance shareholder value and optimize its capital structure, potentially impacting its market positioning and investor relations.

Kogan.com Updates on Share Buy-Back Program
Nov 25, 2025

Kogan.com has announced an update regarding its ongoing share buy-back program, with a total of 9,231,011 securities bought back before the previous day and an additional 33,204 securities purchased on the previous day. This buy-back initiative is part of Kogan.com’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting the company’s commitment to optimizing its financial operations and market positioning.

Kogan.com Announces Change in Director’s Interest
Nov 24, 2025

Kogan.com Ltd has announced a change in the director’s interest, specifically involving David Shafer, who has been issued 320,497 Performance Rights following shareholder approval at the Annual General Meeting. This change reflects an increase in Shafer’s holdings to 680,460 Performance Rights, indicating a strategic move to align the director’s interests with the company’s performance, potentially impacting shareholder value and company governance.

Kogan.com Announces Change in Director’s Interest
Nov 24, 2025

Kogan.com Ltd has announced a change in the director’s interest, specifically regarding Ruslan Kogan, who has been issued 445,135 Performance Rights following shareholder approval at the Annual General Meeting. This change reflects the company’s ongoing commitment to aligning executive incentives with shareholder interests, potentially impacting the company’s governance and stakeholder confidence.

Kogan.com Issues New Shares Under Equity Incentive Plan
Nov 24, 2025

Kogan.com Ltd announced the issuance of 3,638 fully paid ordinary shares as a result of the vesting of Performance Rights under its Equity Incentive Plan. The company has applied for the quotation of these shares on the ASX and confirmed compliance with relevant provisions of the Corporations Act. This move signifies Kogan.com’s commitment to maintaining transparency and regulatory compliance while potentially enhancing its market presence.

Kogan.com Announces Quotation of New Securities on ASX
Nov 24, 2025

Kogan.com has announced the application for the quotation of 3,638 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective November 24, 2025. This move is part of the company’s ongoing efforts to enhance its market presence and provide more opportunities for stakeholders, potentially impacting its operational dynamics and industry positioning.

Kogan.com Issues Performance Rights to Employees
Nov 24, 2025

Kogan.com has announced the issuance of 765,632 performance rights as part of an employee incentive scheme. These unquoted securities are not intended to be listed on the ASX, reflecting the company’s strategy to motivate and retain its workforce, which could enhance operational performance and shareholder value.

Kogan.com Issues Performance Rights to Employees
Nov 24, 2025

Kogan.com has announced the issuance of 3,638 performance rights under an employee incentive scheme. These securities are unquoted and are part of the company’s strategy to motivate and retain key employees, which could enhance operational performance and align employee interests with company growth.

Kogan.com Secures Strong Shareholder Support at 2025 AGM
Nov 21, 2025

Kogan.com held its 2025 Annual General Meeting in Melbourne, where all resolutions were passed by poll, except for a conditional resolution that was withdrawn. Notably, the ‘Adoption of Remuneration Report’ was approved with over 75% of votes in favor. This outcome reflects strong shareholder support for the company’s strategic decisions and leadership, potentially reinforcing its market position and stakeholder confidence.

Kogan.com Presents 2025 AGM Highlights with Caution on Future Projections
Nov 20, 2025

Kogan.com Ltd’s recent presentation at the 2025 Annual General Meeting highlighted the company’s current activities and financial data, emphasizing that the information is unaudited and subject to change. The presentation included non-IFRS financial measures to provide insights into the company’s underlying performance, although it cautioned against relying on past performance as an indicator of future results. The release also noted the presence of forward-looking statements, which involve inherent risks and uncertainties that could impact the company’s future performance.

Kogan.com Announces Cessation of Performance Rights
Nov 3, 2025

Kogan.com announced the cessation of 634 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may impact the company’s financial structuring and could have implications for stakeholders regarding the company’s ability to meet performance targets.

Kogan.com Issues Performance Rights to Boost Employee Incentives
Nov 3, 2025

Kogan.com has announced the issuance of 252,486 performance rights as part of an employee incentive scheme. These securities are unquoted and are not intended to be listed on the ASX, reflecting the company’s strategy to motivate and retain key personnel, potentially impacting its operational efficiency and market competitiveness.

Kogan.com Announces Annual General Meeting Details
Oct 21, 2025

Kogan.com Ltd has announced its Annual General Meeting, scheduled for November 21, 2025, at Arnold Bloch Leibler’s offices in Melbourne. The meeting will be held physically, and shareholders are encouraged to submit their votes by proxy. The company emphasizes the importance of shareholder participation, as all resolutions will be decided by a poll. Shareholders can access the Notice of Meeting electronically and are advised to monitor the company’s website and ASX announcements for any updates.

Kogan.com Issues Performance Rights to Boost Employee Incentives
Oct 3, 2025

Kogan.com has announced the issuance of 338,789 unquoted performance rights as part of an employee incentive scheme. This move is likely aimed at motivating and retaining talent within the company, potentially enhancing operational efficiency and strengthening its competitive position in the e-commerce sector.

Kogan.com Announces Cessation of Performance Rights
Oct 3, 2025

Kogan.com announced the cessation of 35,256 performance rights due to the lapse of conditional rights, as the conditions for these securities were not met or became unachievable. This announcement may impact the company’s capital structure and reflects on its operational adjustments, potentially influencing investor perceptions and market positioning.

Kogan.com Releases 2025 Corporate Governance Statement
Sep 25, 2025

Kogan.com Limited has released its corporate governance statement for the financial year ending 30 June 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, indicating that Kogan.com has followed these guidelines in full for the reporting period. This disclosure is crucial for stakeholders as it demonstrates the company’s commitment to transparency and accountability in its governance practices.

Kogan.com Reports Strong Financial Growth in 2025
Sep 25, 2025

Kogan.com reported significant financial growth in its 2025 Annual Report, with a 13% increase in gross profit to $189.9 million and a 15% rise in gross sales to $930.9 million. The company also achieved a 35% increase in group active customers, reaching 3.5 million, and reported a strong free cash flow growth of 40%, amounting to $32.4 million, with no debt on its balance sheet. These results indicate a robust operational performance and a solid market position, likely enhancing stakeholder confidence and supporting future growth initiatives.

Kogan.com Updates Dividend Reinvestment Plan Price
Sep 19, 2025

Kogan.com has announced an update regarding its dividend distribution, specifically revealing the Dividend Reinvestment Plan (DRP) price. This announcement pertains to the dividend for the six-month period ending on June 30, 2025, with key dates including the record date on September 12, 2025, and the ex-date on September 11, 2025. The update is significant for stakeholders as it provides clarity on the financial returns and reinvestment opportunities available, potentially impacting investor decisions and market perceptions.

Kogan.com Announces Director Departure
Sep 11, 2025

Kogan.com Ltd announced that James Spenceley has ceased to be a director as of September 10, 2025. This change in the board may impact the company’s strategic direction and governance, as Spenceley held a beneficial interest in 10,000 fully paid ordinary shares through Spenceley Management Pty Ltd, linked to the Spenceley Family Trust.

Kogan.com Announces Board Resignation Amidst Renewal Process
Sep 10, 2025

Kogan.com Ltd announced the resignation of independent Non-Executive Director James Spenceley from its Board of Directors, effective immediately. Spenceley, who joined the board in March 2021, was instrumental in the board renewal process and recently oversaw the recruitment of three new directors. His departure comes as he shifts focus to personal and humanitarian interests. The resignation is seen as a continuation of the board’s renewal process, which aims to strengthen the company’s governance and strategic direction.

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.Date of analysis: Nov 30, 2025