Company DescriptionMyer Holdings Limited, together with its subsidiaries, operates department stores in Australia. It offers womenswear, menswear, childrenswear, homewares, beauty products, electrical goods, toys, gift products, and general merchandise. The company operates 58 stores under the Myer brand name. It is also involved in the online retailing business under the sass & bide, and Marcs and David Lawrence brand names. In addition, the company provides customer loyalty programs. Myer Holdings Limited was founded in 1900 and is based in Docklands, Australia.

How the Company Makes Money

Myer Holdings Limited Financial Statement Overview

Summary

Myer Holdings Limited demonstrates operational efficiency and strong cash flow, but faces declining revenue and high leverage. Stabilizing margins and effective cash management are positive, yet high debt levels pose risks. Strategic focus on revenue growth and balance sheet improvement is crucial.

Income Statement

Positive

Myer Holdings Limited has shown fluctuating revenue with a decline from the previous year. The gross profit margin remains stable at approximately 45%, indicating effective cost management. However, the net profit margin has decreased to 1.64% due to lower net income. EBIT and EBITDA margins are healthy at 6.09% and 8.37% respectively, suggesting operational efficiency.

Balance Sheet

Neutral

The company's balance sheet shows a high debt-to-equity ratio of 6.39, indicating significant leverage. Return on equity (ROE) is 17.06%, reflecting decent profitability relative to shareholder investment. The equity ratio is low at 10.73%, suggesting limited financial flexibility and high reliance on debt financing.

Cash Flow

Positive

Cash flows are strong with a free cash flow to net income ratio of 4.43, highlighting robust cash generation relative to earnings. Operating cash flow is positive at 244.9 million, surpassing net income and supporting liquidity. However, free cash flow growth has been negative due to decreased free cash flow from the previous year.

TTM	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Breakdown
Income Statement		Total Revenue
2.63B	2.64B	2.76B	2.50B	2.25B	2.16B
	Gross Profit
1.19B	1.19B	1.20B	1.12B	1.02B	927.60M
	EBIT
142.70M	161.00M	201.50M	156.40M	109.50M	-21.00M
	EBITDA
162.05M	221.40M	170.90M	160.80M	149.20M	205.80M
	Net Income Common Stockholders
23.40M	43.50M	60.40M	49.00M	46.40M	-172.40M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
282.30M	176.00M	179.70M	243.90M	178.60M	86.50M
	Total Assets
2.47B	2.38B	2.51B	2.62B	2.54B	2.53B
	Total Debt
1.56B	1.63B	1.71B	1.76B	1.80B	1.87B
	Net Debt
1.27B	1.45B	1.53B	1.51B	1.62B	1.79B
	Total Liabilities
2.20B	2.12B	2.27B	2.35B	2.31B	2.36B
	Stockholders Equity
266.60M	255.00M	240.50M	267.40M	226.90M	172.60M
Cash Flow		Free Cash Flow
207.90M	192.90M	142.10M	206.90M	220.30M	147.00M
	Operating Cash Flow
242.50M	244.90M	242.40M	275.40M	277.30M	192.00M
	Investing Cash Flow
-53.90M	-63.90M	-74.50M	-44.20M	-31.90M	-40.30M
	Financing Cash Flow
-182.30M	-184.70M	-232.10M	-165.90M	-153.30M	-112.60M

Myer Holdings Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
30M		€674.19M	21.54	8.55%	5.81%	―	―
Sector *	62 Neutral	$6.84B	11.41	2.80%	3.87%	2.70%	-24.58%
HNORF		$4.43B	15.46	9.58%	4.48%	―	―
KGGNF		$261.29M	377.12	1.28%	2.15%	―	―
WFAFF		$62.19B	36.36	30.35%	2.42%	―	―
RFD		€141.12M	36.42	3.33%	1.98%	―	―
JBH	75 Outperform	AU$11.92B	25.91	29.07%	3.24%	6.21%	0.20%

* Consumer Cyclical Sector Average

Performance Comparison

DE:30M

Myer Holdings Limited

0.36

0.00

0.00%

HNORF

Harvey Norman Holdings Ltd

3.56

0.70

24.48%

KGGNF

Kogan.com

4.45

0.09

2.06%

WFAFF

Wesfarmers Limited

55.15

11.97

27.72%

DE:RFD

Reject Shop Limited

3.70

1.79

93.72%

AU:JBH

JB Hi-Fi Limited

109.02

51.73

90.29%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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