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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 61 (OpenAI - 5.2)
Rating:61Neutral
Price Target:
AU$4.00
▲(1.78% Upside)
Action:ReiteratedDate:02/26/26
The score is driven primarily by mixed underlying financial performance (profitability and ROE remain weak despite strong cash flow) and a positive but not fully confirmed technical setup (price trend strong, MACD still slightly negative). The latest earnings call is a meaningful positive due to clear margin guidance, strong cash generation, and a debt-free position, while valuation is constrained by a negative P/E despite an attractive dividend yield.
Positive Factors
Strong cash generation and debt-free balance sheet
Sustained operating cash flow and free cash flow, plus a debt-free balance sheet and $71.8M cash, materially improve financial flexibility. This durable cash buffer funds working capital, supports dividends and buybacks, and lowers funding risk while management executes growth and turnaround plans.
High-margin platform & exclusive product mix
A large share of gross profit from exclusives and very high platform margins indicate structural margin advantage versus pure retail. Owning IP, supply chain control, and platform economics support sustainable higher gross margins and provide leverage as sales scale, aiding medium-term margin expansion.
Recurring revenue traction: marketplace and subscriptions
Rapid marketplace growth and rising subscription deferred income build recurring, predictable revenue and improve customer lifetime value. This structural shift reduces reliance on one-off product cycles, smooths revenue volatility, and supports higher operating leverage as platform penetration increases.
Negative Factors
Persistent profitability and ROE weakness
Negative EBIT/net margins and a continuing negative ROE show underlying profitability issues that cash flow alone hasn't resolved. Over the medium term the company must convert margin and product-mix gains into consistent positive returns on equity to sustainably fund growth and justify capital returns.
Mighty Ape turnaround execution risk
A deliberate reset at Mighty Ape has generated a material revenue and EBITDA drag. Recovery depends on inventory rebuild, exclusive sourcing and improving NZ retail conditions; failure to execute or slower-than-expected market improvement would hold back consolidated margins and profitability for multiple quarters.
Inventory rebuild will absorb working capital
Replenishing very low inventory levels requires cash redeployment that can reduce free cash flow availability in the near term. This absorption may constrain discretionary capital returns or investments and delays margin normalization if replenishment timing and sell-through don't meet expectations.

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 Earnings Call Summary

Earnings Call Date:Feb 22, 2026
(Q2-2026)
|
Next Earnings Date:Aug 24, 2026
Earnings Call Sentiment Positive
The call highlighted strong, broad‑based performance at Kogan.com: double‑digit sales growth, expanding margins, record marketplace and subscription traction, robust cash generation and a healthy balance sheet. These positives were offset by a deliberate but steep reset at Mighty Ape (revenue down 25%, adjusted EBITDA loss of $3.2M) that depressed group EBITDA slightly and requires working capital to rebuild inventory. Management presented a clear remediation plan (One Group strategy) and month‑by‑month margin improvement in New Zealand, signalling recovery potential. On balance the operational and financial strengths of Kogan.com, strong cash flows, and a defined plan to fix Mighty Ape outweigh the short‑term drag and execution risk.
Q2-2026 Updates
Positive Updates
Kogan.com Revenue and Sales Growth
Kogan.com drove gross sales past $0.5 billion (up 21% YoY) and revenue grew ~17% YoY, demonstrating the platform is the primary growth engine for the group.
Improved Profitability and Operating Leverage
Kogan.com gross profit climbed ~16% to nearly $100.0M and adjusted EBITDA rose 18% to $27.6M, with adjusted EBITDA margin expanding to 11.9% and adjusted EBIT margin to 9.7% — evidence of operating leverage converting revenue growth into earnings.
Strong Cash Generation and Balance Sheet
Group operating cash flow was $46.9M and free cash flow was $45.1M (free cash flow up 2% YoY). The group finished the half debt-free with $71.8M total cash (up >$4M YoY).
Platform & Exclusive Product Mix Driving High‑Quality Earnings
72% of gross profit came from exclusive products and services (own IP/supply chain, loyalty and marketplace). Platform-based sales grew 16.6% to $68.9M, and platform margins expanded to ~52% this half.
Marketplace and Subscription Momentum
Kogan Marketplace delivered a record half with revenue up 31.6% to $19.5M. Kogan FIRST subscription revenue grew 7.6% to $30.3M and deferred income increased 13.7% to $11.2M, highlighting recurring revenue strength (~50% of product gross sales from FIRST members).
Kogan Verticals and Products Performance
Kogan Verticals revenue climbed 8.8% to $12.3M (Kogan Mobile +13%, Kogan Internet +40%). Kogan Products revenue rose 19% to $167.9M while gross profit increased 26.4% to $35.1M and gross margin improved by 1.2 percentage points to 20.9%; avg. price per item sold up 11% to $179 and >70% of product revenue from own brands.
Working Capital & Inventory Improvements
Inventory optimization released $7.1M YoY, and Mighty Ape inventory was reduced by 32%, improving working capital efficiency.
Shareholder Returns
Returned capital during the half: $5.8M in dividends (net of DRP) plus $4.8M in on‑market buybacks; Board declared an interim fully franked dividend of $0.080 per share with a 2.5% DRP discount.
Negative Updates
Mighty Ape Revenue Decline
Mighty Ape revenue declined 25% YoY as management deliberately reset inventory and tightened procurement, reflecting a strategic but material short‑term revenue hit.
Mighty Ape Profitability Drag
Mighty Ape produced an adjusted EBITDA loss of $3.2M for the half; while margins improved month‑on‑month and crossed into positive by December, the business remains a near‑term drag on group profitability and subject to New Zealand retail volatility.
Group EBITDA Slight Dip and Product Sales Impact
Despite Kogan.com strength, group adjusted EBITDA dipped ~3% and group product sales were negatively impacted (noted as a ~5% product sales dip attributable to the Mighty Ape reset), tempering consolidated margin expansion.
Inventory Rebuild Requires Working Capital
Management will deploy working capital to rebuild Mighty Ape inventory (currently at very low levels) which could temporarily absorb free cash flow despite strong Kogan.com generation; timing and pace of rebuild add near‑term execution risk.
New Zealand Retail Environment Remains Challenging
Management acknowledged a tough NZ retail market and difficulty isolating macro impact from internal reset actions; this increases uncertainty over the speed and sustainability of Mighty Ape's recovery.
Company Guidance
Guidance from the call was that the group expects full‑year FY26 adjusted earnings margins of 6–9% and that Mighty Ape should return to positive adjusted EBITDA in H2 FY26 as its inventory (already reduced 32%) is rebuilt with a focus on exclusives; platform‑based sales (H1 $68.9m, platform margins ~52%, marketplace $19.5m up 31.6%) are the primary lever to drive margin expansion, having helped lift group adjusted margin from 7.5% in FY25 to 8.5% in H1 and targeting a medium‑term range of ~8–12% and a long‑term aspiration of >20% as product sales move toward breakeven. The company cited strong cash generation (H1 operating cash flow $46.9m, free cash flow $45.1m, total cash $71.8m, $7.1m working‑capital release), a debt‑free balance sheet, ongoing capital returns (interim dividend $0.080 fully franked, DRP 2.5% discount, $5.8m dividends net and $4.8m buyback) and supportive trading (January gross sales +10% to $88.1m, revenue +8%) as underpinning that outlook.

Kogan.com Financial Statement Overview

Summary
Financials are mixed: revenue growth has only recently turned slightly positive and profitability remains weak with negative margins and negative ROE. Offsetting this, leverage has improved and cash flow is a key strength, with strong free cash flow growth and good cash conversion.
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.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue502.89M488.11M459.70M488.38M717.60M779.39M
Gross Profit198.06M189.91M168.44M135.44M183.52M202.36M
EBITDA30.77M31.68M38.09M-19.12M-21.43M23.15M
Net Income-41.55M-39.47M83.00K-25.85M-35.46M3.54M
Balance Sheet
Total Assets231.38M190.15M243.43M274.06M360.31M455.29M
Cash, Cash Equivalents and Short-Term Investments71.75M42.27M41.34M65.44M66.23M91.69M
Total Debt34.55M16.66M23.04M15.73M57.53M94.53M
Total Liabilities171.73M129.62M119.83M106.34M187.67M274.56M
Stockholders Equity59.65M60.53M123.60M167.72M172.64M180.73M
Cash Flow
Free Cash Flow36.95M36.96M23.17M66.70M56.28M-67.76M
Operating Cash Flow37.05M37.29M28.19M70.86M61.84M-63.03M
Investing Cash Flow-3.53M-4.90M-15.96M-18.05M-32.78M-55.69M
Financing Cash Flow-28.85M-31.57M-36.39M-53.79M-54.24M63.76M

Kogan.com Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.93
Price Trends
50DMA
3.62
Positive
100DMA
3.42
Positive
200DMA
3.61
Positive
Market Momentum
MACD
0.11
Negative
RSI
60.53
Neutral
STOCH
85.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:KGN, the sentiment is Positive. The current price of 3.93 is above the 20-day moving average (MA) of 3.46, above the 50-day MA of 3.62, and above the 200-day MA of 3.61, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 60.53 is Neutral, neither overbought nor oversold. The STOCH value of 85.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$58.53M11.9412.71%9.03%8.39%3.21%
65
Neutral
AU$201.76M13.3616.91%6.98%-0.35%-1.96%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
61
Neutral
AU$384.89M-9.39-40.52%4.00%6.24%-23341.18%
60
Neutral
AU$301.47M15.7111.70%5.85%3.99%-18.35%
58
Neutral
AU$39.46M123.531.90%1.58%-65.09%
54
Neutral
AU$266.74M35.508.94%4.72%465.60%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:KGN
Kogan.com
3.93
-0.77
-16.40%
AU:ADH
Adairs Ltd.
1.70
-0.46
-21.30%
AU:DSK
Dusk Group Ltd.
0.94
-0.21
-18.26%
AU:ABY
Adore Beauty Group Ltd.
0.42
-0.42
-50.00%
AU:SSG
Shaver Shop Group Ltd.
1.54
0.32
26.13%
AU:BBN
Baby Bunting Group Ltd.
1.97
0.10
5.35%

Kogan.com Corporate Events

Kogan.com Updates Market on Progress of Ongoing Share Buy-Back
Mar 4, 2026

Kogan.com has provided an update on its ongoing on-market share buy-back program involving its ordinary fully paid shares listed under the ASX code KGN. The company reported that, as of the latest daily notification dated 5 March 2026, it has bought back a cumulative 11,427,240 shares, including 97,500 shares repurchased on the previous trading day.

The continuation of the on-market buy-back, first notified in April 2023, indicates management’s sustained focus on capital management and returning value to shareholders. Regular daily buy-back disclosures underscore ongoing execution of the program and may signal confidence in the company’s valuation, with potential implications for earnings per share and the stock’s trading dynamics over time.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates Market on Progress of On‑Market Share Buy‑Back
Mar 3, 2026

Kogan.com has updated the market on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 11,324,240 shares had been repurchased prior to the latest trading day, with an additional 103,000 shares bought back on the previous day, indicating continued execution of its capital management strategy.

The buy-back, originally notified in April 2023 and most recently updated on 3 March 2026, reflects management’s active approach to managing the company’s share base. This ongoing reduction in shares on issue may enhance earnings per share over time and signals confidence in the company’s valuation to investors and other stakeholders.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Director Gary Levin Increases Indirect Shareholding via On-Market Trades
Mar 3, 2026

Kogan.com has disclosed a change in director Gary Levin’s indirect shareholding, with his superannuation fund acquiring an additional 10,000 ordinary shares via on-market trades. The purchases, executed through KISO Holdings Pty Ltd at prices just above $4 per share, increase Levin’s indirect stake from 20,000 to 30,000 shares and signal a higher personal financial exposure to the company’s future performance.

The transactions were notified to the ASX in line with director disclosure requirements and were not conducted during a closed trading period. While the filing is primarily administrative, such incremental insider buying can be interpreted by investors as a modest vote of confidence from a board member in Kogan.com’s outlook and share valuation.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Issues Daily Update on Ongoing Share Buy-Back Program
Mar 2, 2026

Kogan.com has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program of ordinary fully paid shares. The company reported that a total of 11,281,684 shares had been repurchased prior to the previous trading day, with a further 42,556 shares bought back on that day.

The latest filing is a routine daily update under its buy-back program first notified in April 2023, indicating the continued execution of capital management initiatives. Ongoing buy-backs can support earnings per share and signal confidence in the company’s valuation, which may be relevant for existing shareholders and prospective investors.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Director David Shafer Lifts Stake With On-Market Share Purchase
Feb 25, 2026

Kogan.com director David Shafer has increased his indirect shareholding in the company through an on-market trade, according to a change of director’s interest notice lodged with the ASX. Shafer, who holds his interest via Shafer Corporation Pty Ltd as trustee for the Shafer Family Trust, acquired 150,000 additional ordinary shares at $3.4719 per share.

Following the transaction, Shafer’s indirect holding rose to a total of 3,375,642 ordinary shares across related holdings, alongside 680,460 performance rights that remain unchanged. The move signals additional financial commitment by a key board member, a development often watched by investors as an indicator of director confidence in the company’s future performance.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Director Francine Ereira Lifts Indirect Shareholding
Feb 25, 2026

Kogan.com non-executive director Francine Ereira has increased her indirect shareholding in the company via the Ereira Super Trust. The trust, with Bond Street Custodians Limited as custodian, now holds 7,478 Kogan.com ordinary shares on her behalf, up from 2,478.

The additional 5,000 shares were acquired on-market in two separate trades on 24 February 2026, at prices of $3.52 and $3.50 per share, respectively. The company noted there was no trading during a closed period, suggesting the transactions complied with Kogan.com’s governance and share trading policies.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Director Greg Ridder Increases Indirect Shareholding
Feb 25, 2026

Kogan.com has disclosed a change in the interests of director Greg Ridder, who holds his stake indirectly through Ridder Superannuation Pty Ltd as trustee for the Ridder Superfund. The filing reports that Ridder acquired 5,000 additional ordinary shares via an on-market trade at $3.38 per share, increasing his holding from 158,000 to 163,000 shares.

The transaction signals a modest increase in director ownership and may be read by investors as a vote of confidence in Kogan.com’s prospects. The company confirmed there were no related changes in derivative contracts or trading during a closed period, suggesting the purchase was a routine on-market transaction under normal trading conditions.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Issues New Shares Under Equity Incentive Plan and Confirms Regulatory Compliance
Feb 23, 2026

Kogan.com has issued 80,084 fully paid ordinary shares following the vesting of performance rights granted under its Equity Incentive Plan, and has applied for their quotation on the ASX. The company confirms the shares were issued without a prospectus under available regulatory relief, while stating it remains compliant with its financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information relevant to assessing the company or these securities.

The move modestly increases Kogan.com’s share count and reflects the ongoing use of equity-based incentives to reward and retain staff in line with common market practice. By formally affirming compliance with the Corporations Act and ASX rules, Kogan.com seeks to reassure investors that governance standards are being met and that the new shares carry the same rights and disclosures as existing ordinary shares.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Seeks ASX Quotation for 80,084 New Ordinary Shares
Feb 23, 2026

Kogan.com has applied for quotation on the ASX of 80,084 new fully paid ordinary shares under its code KGN. The securities were issued on 23 February 2026 following the exercise or conversion of existing options or other convertible securities, modestly increasing the company’s listed share base and potentially improving liquidity for investors.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Declares Interim Dividend of 8 Cents per Share
Feb 22, 2026

Kogan.com has declared an ordinary dividend of A$0.08 per fully paid share for the six months to 31 December 2025, with an ex-dividend date of 12 March 2026 and a record date of 13 March 2026. The dividend is scheduled to be paid on 30 April 2026, providing an income return to shareholders that signals continued capital management and confidence in the company’s financial position.

Investors can participate in the dividend reinvestment plan by electing by 16 March 2026, allowing them to convert their cash entitlement into additional Kogan.com shares. The announcement gives shareholders clarity on timing and amount of the distribution, and may support the stock’s appeal to income-focused investors in the Australian online retail sector.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Issues Unaudited Overview of First-Half FY26 Results
Feb 22, 2026

Kogan.com has released an unaudited presentation of its first-half FY26 results, summarising its recent performance and operations. The company emphasises that all financial figures are preliminary, expressed in Australian dollars, and should be read alongside its formal half-year results lodged with the ASX on 23 February 2026.

The release highlights that past performance is not indicative of future outcomes and that comparisons generally reference the prior corresponding half-year period. It also notes extensive use of non-IFRS measures such as Gross Sales and Adjusted EBITDA, positioned as tools for understanding underlying operating performance, while stressing that the document is not investment advice and should not be relied upon as the sole basis for investment decisions.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com lifts margins and dividend as core business surges, Mighty Ape resets
Feb 22, 2026

Kogan.com reported strong first-half FY26 results, with group gross sales up 16% to $572.4 million and revenue up 5% to $287.6 million, driven largely by a 28% increase in Kogan.com active customers to 3 million. The company maintained a cash balance of $71.8 million with no external debt, raised its fully franked interim dividend by 14.3% to 8 cents per share, and kept inventories at $76.9 million across the group.

The Kogan.com segment delivered double-digit revenue growth and expanded margins, with adjusted EBITDA margin rising to 11.9% as operating leverage and marketing efficiency supported scalable profitability. Mighty Ape underwent an inventory and operational reset that depressed first-half earnings but ended the period profitable in December, with management now focused on rebuilding ranges and rolling out the Kogan.com platform model to drive a capital-light recovery amid continued economic headwinds in New Zealand.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com lifts revenue, boosts cash and dividend as core business outperforms
Feb 22, 2026

Kogan.com delivered a solid first-half FY26 result, with group revenue supported by 16.9% growth at its core Kogan.com business to $232.4 million, partially offset by a 25.3% revenue decline at Mighty Ape as it undertook an inventory clearance and operational reset. Group gross profit rose 7.8% to $114.2 million on a 39.7% gross margin, while active customers increased nearly 23% to 3.7 million, underpinned by disciplined marketing investment.

The group reported statutory profit after tax of $8.2 million and adjusted profit after tax of $12.2 million, broadly flat year on year, and generated $46.9 million in operating cash flow to finish the half with $71.8 million in cash and no debt. Reflecting the profitable performance and strengthened balance sheet, the board declared an increased fully franked interim dividend of 8.0 cents per share, reinstated the share buy-back, and indicated that Mighty Ape’s reset is positioning the segment for improved efficiency and earnings quality.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Sets Date for 1H FY26 Results and Investor Briefing
Feb 9, 2026

Kogan.com, a diversified Australian online retail and services group spanning marketplaces, telecommunications, internet, insurance, finance, energy and travel, continues to build on its positioning as a price-leading digital consumer brand. Its portfolio of brands, including Kogan Retail, Kogan Mobile, Kogan Internet, Mighty Ape and Brosa, targets value-focused shoppers through a broad, technology-enabled platform.

The company has scheduled the release of its half-year FY26 results, including its Appendix 4D and financial report, for 23 February 2026, and will host an investor webinar briefing on the same day led by Founder and CEO Ruslan Kogan and CFO/COO David Shafer. The planned disclosure and briefing underscore ongoing engagement with investors and the market, providing stakeholders with an upcoming update on operational and financial performance at a key midpoint in the financial year.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Reports Lapse of 66,856 Performance Rights
Jan 20, 2026

Kogan.com has notified the ASX that 66,856 performance rights (security code KGNAA) have lapsed as the conditions attached to these rights were not satisfied or have become incapable of being satisfied, effective 20 January 2026. The lapse of these conditional securities reduces the company’s pool of potential equity-based remuneration, which may slightly alter future dilution expectations for shareholders but does not directly affect the company’s existing issued share capital or day-to-day operations.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Issues New Tranche of Unquoted Performance Rights Under Incentive Plan
Jan 20, 2026

Kogan.com Ltd has notified the market that it will issue 51,521 unquoted performance rights under its employee incentive scheme, effective 20 January 2026. The new performance rights, which will not be quoted on the ASX, form part of the company’s ongoing approach to staff remuneration and alignment of management and employee incentives with shareholder interests.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Cancels 929,131 Shares Under On‑Market Buy-Back
Jan 13, 2026

Kogan.com has cancelled 929,131 ordinary fully paid shares as part of an on‑market buy-back, effective 12 January 2026, according to a notification of cessation of securities lodged with the ASX. The reduction in issued capital via this buy-back may marginally increase the ownership percentage of remaining shareholders and signals ongoing capital management by the company, though the announcement provides no further detail on strategic rationale or future buy-back intentions.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back, Topping 11.1 Million Shares Repurchased
Jan 11, 2026

Kogan.com has provided an updated notification to the ASX on its ongoing on-market share buy-back, covering its ordinary fully paid shares under code KGN. As of 12 January 2026, the company reports having repurchased a total of 11,128,373 shares prior to the previous trading day, with a further 153,311 shares bought back on the previous day, indicating continued execution of its capital management program. The sustained buy-back activity signals management’s confidence in the company’s valuation and capital position, with potential implications for earnings per share and ownership concentration for existing shareholders.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back With Daily Purchases
Jan 8, 2026

Kogan.com has continued its on-market share buy-back program, reporting that it had repurchased a total of 10,917,202 ordinary fully paid shares prior to the latest trading day and a further 211,171 shares on the previous day. The ongoing daily buy-back notifications indicate that the company is actively reducing its share count, which can signal management’s confidence in the business, potentially enhance earnings per share, and impact the liquidity and valuation of KGN stock for existing shareholders.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates Market on Progress of On-Market Share Buy-Back
Jan 7, 2026

Kogan.com has provided an updated daily notification to the ASX on its ongoing on-market share buy-back, confirming that a total of 10,879,073 ordinary fully paid shares have been repurchased to date, with 38,129 shares bought back on the previous trading day. The continued execution of the buy-back program, first notified in April 2023, signals the company’s ongoing capital management efforts and may support earnings per share and shareholder value by reducing the number of shares on issue.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back, Lifts Total Repurchases Past 10.7 Million Shares
Jan 6, 2026

Kogan.com has provided an updated notification to the ASX on the progress of its on-market share buy-back program, originally announced in April 2023. As of 7 January 2026, the company has repurchased a total of 10,722,719 ordinary fully paid shares prior to the latest trading day and bought back a further 156,354 shares on the previous day, signalling continued execution of its capital management strategy that could support earnings per share and shareholder value by reducing the number of shares on issue.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On‑Market Share Buy‑Back Program
Jan 5, 2026

Kogan.com has provided an updated notice to the ASX confirming the ongoing execution of its on‑market share buy‑back program for its ordinary fully paid shares. As of 6 January 2026, the company reported that it has repurchased a total of 10,668,080 shares prior to the previous trading day and bought back a further 54,639 shares on the previous day, signalling continued capital management activity that reduces the number of shares on issue and may support earnings per share and shareholder value over time.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back, Lifts Total Repurchased Stock
Jan 4, 2026

Kogan.com has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares (ASX: KGN). As of 5 January 2026, the company reported that it has bought back a total of 10,634,232 shares prior to the previous day, with an additional 33,848 shares repurchased on the previous trading day, reflecting continued execution of the buy-back initially announced in April 2023. The continued buy-back activity signals management’s ongoing focus on capital management and may support earnings per share and shareholder value by reducing the company’s outstanding share base.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back Program
Jan 1, 2026

Kogan.com has continued its on-market share buy-back program for its ordinary fully paid shares, with a daily update lodged to the ASX on 2 January 2026. The company reported that it has bought back a total of 10,607,581 shares prior to the previous trading day, and a further 26,651 shares on the previous day, signalling an ongoing capital management initiative that may support earnings per share and reflects management’s continuing confidence in the company’s valuation.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates Market on Progress of On‑Market Share Buy-Back
Dec 30, 2025

Kogan.com has provided an updated notification to the ASX on its ongoing on‑market share buy-back program for its ordinary fully paid shares, confirming that a total of 10,551,916 shares had been repurchased prior to the latest reporting date and a further 55,665 shares were bought back on the previous trading day. The continued execution and daily reporting of this buy-back underscore the company’s capital management strategy, signalling confidence in its share valuation and returning capital to shareholders, which may support earnings per share and strengthen Kogan.com’s positioning in the competitive online retail market.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On‑Market Share Buy‑Back Program
Dec 29, 2025

Kogan.com Ltd, the Australian online retailer listed on the ASX under ticker KGN, continues to operate a share buy-back program involving its ordinary fully paid shares. In its latest daily update, the company reported that it had repurchased a total of 10,495,385 shares prior to the most recent trading day and bought back an additional 56,531 shares on the previous day through on-market transactions, signalling an ongoing capital management strategy that may support earnings per share and reflect management’s view that the stock is undervalued, with implications for shareholder returns and the company’s capital structure.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates Market on Progress of On-Market Share Buy-Back
Dec 28, 2025

Kogan.com has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares (code KGN). As of 29 December 2025, the company reports having repurchased a total of 10,437,502 shares prior to the previous trading day, with a further 57,883 shares bought back on the previous day, indicating continued execution of its capital management strategy and potential support for its share price and earnings per share.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates Market on Progress of On‑Market Share Buy-Back
Dec 23, 2025

Kogan.com has provided an updated notification to the ASX on its ongoing on‑market share buy-back program for its ordinary fully paid shares. As of 24 December 2025, the company reported that it has repurchased a total of 10,411,496 shares to date, including 26,006 shares bought back on the previous trading day, signalling continued capital management efforts that may support earnings per share and reflect management’s confidence in the company’s valuation.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Cancels 1.15 Million Shares Under On‑Market Buy-Back
Dec 23, 2025

Kogan.com has cancelled 1,154,892 ordinary fully paid shares following the completion of an on‑market share buy-back, as disclosed in an Appendix 3H notification to the ASX dated 23 December 2025. The reduction in issued capital is expected to be marginally accretive to remaining shareholders and reflects the company’s ongoing capital management strategy amid efforts to optimise its balance sheet and enhance shareholder value.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Expands On‑Market Buy-Back to More Than 10 Million Shares
Dec 22, 2025

Kogan.com has continued its on‑market share buy-back program, updating the market that it repurchased 58,943 ordinary fully paid shares on 22 December 2025, bringing the total number of shares bought back under the current program to 10,352,553. The ongoing buy-back signals management’s commitment to returning capital to shareholders and may be viewed as an indication of confidence in the company’s valuation, as the reduced share count can enhance earnings per share and potentially support the stock’s performance for existing investors.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back Program
Dec 21, 2025

Kogan.com Ltd 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 22 December 2025, the company reported that it had repurchased a total of 10,292,560 shares prior to the previous trading day and bought back a further 59,993 shares on the previous day, continuing a buy-back initiative first notified in April 2023. The ongoing buy-back reduces the number of shares on issue, which can enhance earnings per share and signal management’s confidence in the company’s valuation, with potential implications for shareholder value and market perception of the stock.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Continues On-Market Share Buy-Back, Lifts Total Repurchased Shares
Dec 18, 2025

Kogan.com 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 (code KGN), originally initiated in April 2023. As of 19 December 2025, the company reports that it has repurchased a cumulative total of 10,230,929 shares before the previous day and a further 61,631 shares on the previous trading day, indicating the continued execution of its capital management strategy, which is likely aimed at optimising its balance sheet and potentially enhancing shareholder value by reducing the number of shares on issue.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Market Buy-Back Program
Dec 17, 2025

Kogan.com has announced an update on its ongoing on-market buy-back program for its ordinary fully paid securities. The latest notification confirms the buy-back of 61,933 shares on the previous day, adding to a cumulative total of over 10.16 million shares repurchased. This initiative reflects the company’s focus on optimizing shareholder value and managing its capital structure effectively, showcasing its commitment to efficiently address investor interests in a competitive retail environment.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Share Buy-Back Progress
Dec 16, 2025

Kogan.com has announced an update on its ongoing share buy-back program, reporting the acquisition of 62,117 ordinary fully paid securities on the previous day, bringing the total number of shares bought back to over 10 million. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares outstanding.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Share Buy-Back Program
Dec 15, 2025

Kogan.com has announced an update on its ongoing share buy-back program, with a total of 10,045,761 securities bought back before the previous day and an additional 61,118 securities acquired on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting its confidence in the business’s long-term prospects.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Share Buy-Back Program
Dec 14, 2025

Kogan.com has announced an update on its ongoing share buy-back program, indicating the purchase of 61,367 ordinary fully paid securities on the previous day, bringing the total number of securities bought back to 9,984,394. This buy-back initiative reflects the company’s strategy to optimize its capital structure and potentially enhance shareholder value, signaling confidence in its financial health and future prospects.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Ongoing Share Buy-Back Program
Dec 11, 2025

Kogan.com has announced an update regarding its ongoing on-market buy-back program, with a total of 60,612 ordinary fully paid securities bought back on the previous day, bringing the total number of securities bought back to 9,923,782. This buy-back initiative is part of the company’s strategy to optimize its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Ongoing Share Buy-Back Program
Dec 10, 2025

Kogan.com has announced an update regarding its ongoing on-market buy-back program, with a total of 60,045 ordinary fully paid securities bought back on the previous day, adding to the cumulative total of 9,863,737 securities repurchased. This buy-back initiative is part of Kogan.com’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting its commitment to optimizing financial operations and maintaining a competitive position in the e-commerce sector.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Share Buy-Back Progress
Dec 9, 2025

Kogan.com has announced an update on its ongoing share buy-back program, revealing that a total of 59,138 ordinary fully paid securities were bought back on the previous day, adding to the cumulative total of 9,804,599 securities repurchased. This buy-back initiative is part of Kogan.com’s strategy to optimize its capital structure and potentially enhance shareholder value, reflecting its commitment to returning capital to shareholders and maintaining a robust financial position.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Market Buy-Back Program
Dec 8, 2025

Kogan.com has announced an update regarding its ongoing on-market buy-back program, with a total of 59,526 ordinary fully paid securities bought back on the previous day, adding to the cumulative total of 9,745,073 securities bought back prior to that day. This buy-back initiative is part of Kogan.com’s strategy to optimize its capital structure and potentially enhance shareholder value by reducing the number of shares outstanding, which can have positive implications for the company’s stock performance and investor confidence.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

Kogan.com Updates on Share Buy-Back Program
Dec 7, 2025

Kogan.com has announced an update on its ongoing share buy-back program, revealing that a total of 59,717 ordinary fully paid securities were bought back on the previous day, adding to the cumulative total of 9,685,356 securities repurchased since the program’s inception. This buy-back initiative is part of the company’s strategy to enhance shareholder value and optimize its capital structure, reflecting a commitment to returning capital to shareholders and potentially improving market confidence in its financial health.

The most recent analyst rating on (AU:KGN) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Kogan.com stock, see the AU:KGN Stock Forecast page.

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: Feb 26, 2026