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Step One Clothing Limited
(Sydney:STP)
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Rating:64Neutral
Price Target:
AU$0.17
▲(18.57% Upside)
Action:Reiterated
Date:06/24/26
The score is primarily supported by strong recent profitability and a very conservative balance sheet with minimal debt. It is held back by weak technicals (price below key moving averages and negative MACD) and elevated uncertainty from the sharp 2025 revenue decline and cash-flow volatility, with valuation further complicated by a negative P/E and an unusually high dividend yield that may be less reliable.
Positive Factors
Conservative balance sheet / Low leverage
The company’s effectively zero debt position materially reduces refinancing and interest-rate risk, giving management durable financial flexibility. This conservative financing base supports capital returns, weathering demand swings and funding strategic investments without reliance on external credit.
Negative Factors
Volatile and declining revenue
A sharp revenue contraction and historically volatile top-line growth undermine the durability of current profits and margins. If sales decline persistently, fixed-cost absorption and marketing spend could erode earnings power, making current margin levels harder to sustain over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / Low leverage
The company’s effectively zero debt position materially reduces refinancing and interest-rate risk, giving management durable financial flexibility. This conservative financing base supports capital returns, weathering demand swings and funding strategic investments without reliance on external credit.
Read all positive factors
Step One Clothing Limited (STP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$37.07M
Dividend Yield34%
Average Volume (3M)155.68K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth-14.29%
EPS Growth-129.96%
CountryAU
Employees33
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)-0.02
Shares Outstanding185,340,290
10 Day Avg. Volume172,340
30 Day Avg. Volume155,679
Financial Highlights & Ratios
PEG Ratio13.70
Price to Book (P/B)2.46
Price to Sales (P/S)1.47
P/FCF Ratio16.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$68.60M
Step One Clothing Limited Business Overview & Revenue Model
Company Description
Step One Clothing Limited functions as an online-first business specializing in men's intimate apparel, which it sells directly to customers in the United Kingdom, the United States, and Australia. Its product line encompasses various undergarment...
How the Company Makes Money
Step One Clothing Limited makes money primarily through the sale of its apparel products to consumers, with revenue generated when customers purchase items via the company’s e-commerce channels. Its core revenue stream is direct-to-consumer produc...
Step One Clothing Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 75.09M | 86.88M | 84.55M | 65.18M | 72.19M | 61.72M |
| Gross Profit | 37.18M | 66.38M | 68.33M | 48.16M | 59.17M | 41.99M |
| EBITDA | -3.44M | 18.66M | 18.84M | 11.13M | -267.00K | 3.17M |
| Net Income | -4.00M | 12.65M | 12.40M | 8.62M | -3.00M | -118.00K |
Balance Sheet | ||||||
| Total Assets | 47.38M | 62.13M | 63.47M | 66.12M | 63.24M | 56.14M |
| Cash, Cash Equivalents and Short-Term Investments | 24.01M | 33.14M | 38.95M | 38.31M | 34.21M | 41.68M |
| Total Debt | 1.58M | 0.00 | 293.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 8.44M | 10.13M | 11.25M | 9.05M | 14.60M | 12.90M |
| Stockholders Equity | 38.94M | 52.00M | 52.22M | 57.07M | 48.64M | 43.24M |
Cash Flow | ||||||
| Free Cash Flow | -6.56M | 7.98M | 18.49M | 4.57M | -8.80M | 6.55M |
| Operating Cash Flow | -6.55M | 8.00M | 18.66M | 4.65M | -8.78M | 6.60M |
| Investing Cash Flow | 10.35M | -5.02M | -10.17M | -77.00K | -19.00K | -46.00K |
| Financing Cash Flow | -13.26M | -14.12M | -17.73M | -571.00K | 32.28M | -2.55M |
Step One Clothing Limited Technical Analysis
Positive
0.14
Price Trends
0.15
Positive
0.17
Positive
0.26
Negative
Market Momentum
<0.01
Negative
72.61
Negative
87.88
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:STP, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.15, and below the 200-day MA of 0.26, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 72.61 is Negative, neither overbought nor oversold. The STOCH value of 87.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:STP.
Step One Clothing Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$405.67M | 10.50 | 7.94% | 6.45% | 2.05% | -43.61% | |
64 Neutral | AU$37.07M | -9.43 | -8.79% | 48.57% | -14.29% | -129.96% | |
64 Neutral | AU$2.00B | 15.46 | 31.92% | 3.52% | -30.67% | -24.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | AU$564.67M | 16.43 | 22.34% | 5.90% | 14.44% | 61.48% | |
48 Neutral | AU$16.95M | -2.97 | -16.89% | ― | 41.14% | 93.28% | |
47 Neutral | AU$101.03M | -11.88 | -24.62% | ― | -6.53% | -448.44% |
* Consumer Cyclical Sector Average
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Step One Clothing Limited Corporate Events
Step One Clothing Sets Date for FY26 Results and Investor Briefing
Jul 22, 2026
Step One Clothing Limited will release its financial results for the year ended 30 June 2026 on 19 August 2026, providing the market with an update on its performance as a growing multinational innerwear brand. The announcement is expected to offe...
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.