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Australian (ASX) Consumer Discretionary Sector Analysis

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies91
  • 7D-3.3%
  • 3M-16.1%
  • 1Y-12.5%
  • YTD-16.4%

Over the last 7 days, the Consumer Discretionary industry has dropped 3.3%, driven by Wesfarmers declining 3.8%. Meanwhile, Web Travel Group actually outperformed within the industry, gaining 8.3% in the last week. The industry has fallen 13% in the last year. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

Has the Australian Consumer Discretionary Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Mar 2026AU$181.5bAU$129.0bAU$6.3b16.6x28.6x1.4x
Wed, 18 Feb 2026AU$224.5bAU$131.8bAU$7.1b20.5x31.4x1.7x
Fri, 16 Jan 2026AU$233.2bAU$131.3bAU$7.1b25x32.7x1.8x
Sun, 14 Dec 2025AU$226.1bAU$131.3bAU$7.1b23x31.7x1.7x
Tue, 11 Nov 2025AU$226.8bAU$127.7bAU$6.6b25.3x34.5x1.8x
Thu, 09 Oct 2025AU$241.2bAU$127.7bAU$6.6b26.1x36.7x1.9x
Sat, 06 Sep 2025AU$249.9bAU$131.0bAU$6.6b26.2x37.6x1.9x
Mon, 04 Aug 2025AU$232.3bAU$128.6bAU$4.1b24.5x57.3x1.8x
Wed, 02 Jul 2025AU$226.6bAU$129.5bAU$4.1b22.5x55.8x1.7x
Fri, 30 May 2025AU$225.4bAU$129.5bAU$4.1b22.6x54.9x1.7x
Sun, 27 Apr 2025AU$213.3bAU$129.4bAU$4.3b20.2x49.8x1.6x
Tue, 25 Mar 2025AU$212.2bAU$129.5bAU$4.6b20.3x46.2x1.6x
Thu, 20 Feb 2025AU$236.4bAU$127.7bAU$4.1b19.9x58.1x1.9x
Sat, 18 Jan 2025AU$218.0bAU$127.0bAU$4.1b19.7x53.6x1.7x
Mon, 16 Dec 2024AU$221.7bAU$127.0bAU$4.1b21x54.4x1.7x
Wed, 13 Nov 2024AU$212.5bAU$127.0bAU$4.3b20x50x1.7x
Fri, 11 Oct 2024AU$214.6bAU$127.0bAU$4.3b19.4x50.4x1.7x
Sun, 08 Sep 2024AU$209.4bAU$127.2bAU$4.8b19.7x43.6x1.6x
Tue, 06 Aug 2024AU$199.1bAU$124.8bAU$5.8b16.5x34.5x1.6x
Thu, 04 Jul 2024AU$193.2bAU$124.8bAU$5.8b15.7x33.5x1.5x
Sat, 01 Jun 2024AU$188.4bAU$124.4bAU$5.7b15.2x32.9x1.5x
Mon, 29 Apr 2024AU$188.3bAU$124.2bAU$5.7b17.1x33.2x1.5x
Wed, 27 Mar 2024AU$199.9bAU$124.2bAU$5.6b17.4x35.4x1.6x
Fri, 23 Feb 2024AU$193.5bAU$123.7bAU$4.4b19.2x44.3x1.6x
Sun, 21 Jan 2024AU$194.8bAU$126.2bAU$4.4b18.7x44.1x1.5x
Tue, 19 Dec 2023AU$189.4bAU$126.2bAU$4.4b18.1x42.9x1.5x
Thu, 16 Nov 2023AU$184.2bAU$126.1bAU$4.4b17.6x42.3x1.5x
Sat, 14 Oct 2023AU$181.9bAU$125.7bAU$4.0b21.1x45.6x1.4x
Mon, 11 Sep 2023AU$185.4bAU$125.7bAU$4.0b20.3x46.1x1.5x
Wed, 09 Aug 2023AU$183.2bAU$122.0bAU$5.0b13.5x36.9x1.5x
Fri, 07 Jul 2023AU$174.6bAU$122.0bAU$5.0b12.4x35.1x1.4x
Sun, 04 Jun 2023AU$173.0bAU$121.9bAU$5.0b12.6x34.6x1.4x
Tue, 02 May 2023AU$185.0bAU$121.4bAU$4.8b14.5x38.2x1.5x
Thu, 30 Mar 2023AU$178.0bAU$121.4bAU$4.9b13.9x36.1x1.5x
Price to Earnings Ratio

36.1x


Total Market Cap: AU$178.0bTotal Earnings: AU$4.9bTotal Revenue: AU$121.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Consumer Discretionary Sector Price to Earnings3Y Average 42.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Consumer Discretionary industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 28.6x which is lower than its 3-year average PE of 42.1x.
  • The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Consumer Discretionary industry have grown 8.8% per year over the last three years.
  • Revenues for these companies have grown 2.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Consumer Discretionary sector?

AU Market-2.36%
Consumer Discretionary-3.28%
Auto6.56%
Leisure3.03%
Retail Distributors1.84%
Online Retail and Ecommerce0%0
Hospitality-1.86%
Auto Components-2.86%
General Merchandise and Department Stores-3.67%
Consumer Durables-4.51%
Specialty Stores-4.81%
Luxury-4.86%
Consumer Services-5.38%
Industry PE
  • Investors are most optimistic about the Auto Components industry which is trading above its 3-year average PE ratio of 49.2x.
    • Analysts are expecting annual earnings growth of 23.8%, which is higher than its past year's earnings decline of 13.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Services industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 0.9% per year.
  • In contrast, the General Merchandise and Department Stores industry is expected to see its earnings grow by 5.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ALL Aristocrat LeisureAU$46.431.2%
+AU$314.8m		-30.6%PE23.8x
APE Eagers AutomotiveAU$21.422.2%
+AU$132.6m		34.0%PE26.7x
LNW Light & WonderAU$114.620.8%
+AU$70.3m		-31.0%PE22.5x
PMV Premier InvestmentsAU$12.663.0%
+AU$59.2m		-40.3%PE14x
WEB Web Travel GroupAU$2.846.0%
+AU$57.8m		-38.4%PE2052.4x

Latest News

PMV
AU$12.66
Premier Investments
7D
3.0%
1Y
-40.3%
WES
AU$73.04
Wesfarmers
7D
-4.7%
1Y
1.4%

WES: Steady A$100 Fair Value Signals Confidence In Execution Quality

Analysts have kept Wesfarmers' fair value estimate steady at A$100.00 per share, with small tweaks to the discount rate, revenue growth assumptions, profit margin outlook and future P/E used in their models. Analyst Commentary Recent Street research for another infrastructure name, Western Midstream, highlights how analysts tend to react cautiously after quarterly updates.
SUL
AU$12.90
Super Retail Group
7D
-2.9%
1Y
-2.1%

SUL: Stable Margins And P E Outlook Will Support Future Upside

Analysts have kept their A$16.40 fair value estimate for Super Retail Group steady, with only minor model tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions informing a largely unchanged view on the stock’s valuation. Valuation Changes Fair Value: A$16.40 fair value estimate is unchanged, reflecting a consistent overall valuation view.
JBH
AU$73.18
JB Hi-Fi
7D
-3.8%
1Y
-20.4%

JBH: Index Inclusions And Rich Future P/E Will Sustain Overvaluation Risk

Analysts have revised their price target for JB Hi-Fi to around A$62 per share. The refreshed view reflects updated assumptions on the discount rate, modest revenue growth expectations, profit margins, and a slightly lower future P/E multiple.
BRG
AU$26.05
Breville Group
7D
-6.5%
1Y
-18.1%
APE
AU$21.42
Eagers Automotive
7D
2.2%
1Y
34.0%

APE: Index Inclusion Will Support Future Re Rating Potential

Analysts have maintained their A$32.00 price target for Eagers Automotive, noting that minor changes to assumptions for the discount rate, revenue growth, profit margin and future P/E largely offset one another in their valuation analysis. What's in the News Eagers Automotive Limited (ASX:APE) has been added to the S&P/ASX 100 Index, placing the company in a larger benchmark that is followed by many institutional investors (Key Developments).
ALL
AU$46.43
Aristocrat Leisure
7D
1.2%
1Y
-30.6%

ALL: Expanded Buyback And Stable Assumptions Will Support Future Earnings Resilience

Analysts have made only marginal adjustments to their assumptions for Aristocrat Leisure, keeping the fair value estimate steady at A$67.07. They are fine tuning inputs such as the discount rate, revenue growth, profit margin and future P/E, supported by recent sector commentary that highlights more measured expectations for growth and returns.
TAH
AU$0.97
Tabcorp Holdings
7D
-3.0%
1Y
61.2%

TAH: Future Returns Will Rely On Execution To Unlock Earnings Re Rating

Analysts have lifted their Tabcorp Holdings price target from A$1.06 to A$1.12, citing updated assumptions for revenue growth, profit margins and future P/E multiples, even as some recent research, including a Morgan Stanley downgrade, reflects more cautious sentiment around the stock. Analyst Commentary Recent research around Tabcorp Holdings points to a mixed view, with some analysts revisiting their assumptions on growth, profitability and the multiples they are prepared to pay for the stock.
SNL
AU$31.85
Supply Network
7D
2.3%
1Y
-15.1%
WEB
AU$2.84
Web Travel Group
7D
6.0%
1Y
-38.4%

WEB: Stable Fair Value Will Support Confidence In Future Earnings Potential

Analysts have nudged their price target on Web Travel Group higher to A$7.40 from A$7.00, citing slightly stronger assumptions for revenue growth and profit margins, along with a marginally lower future P/E multiple, as the key drivers of the change. What's in the News Web Travel Group Limited reported that Chief Financial Officer Tony Ristevski has withdrawn his resignation and will remain in the CFO role (company announcement).
DMP
AU$17.24
Domino's Pizza Enterprises
7D
-7.6%
1Y
-35.3%

DMP: Cost Savings And Franchise Profitability Will Support Future Share Re Rating

Analysts have lowered their average price target for Domino's Pizza Enterprises from about A$35.26 to A$34.53, citing concerns about operational risk and soft like-for-like sales, while also noting recent cost savings and what they describe as "solid" group earnings. Analyst Commentary Recent research on Domino's Pizza Enterprises highlights a mix of caution and optimism, with some high profile firms flagging risk while others point to operational improvements and cost efficiencies that could support the investment case.
GYG
AU$17.29
Guzman y Gomez
7D
-7.2%
1Y
-48.9%

GYG: Rebased Expectations Will Rely On Neutral And Sector Perform Support

The updated analyst price target for Guzman y Gomez has been revised to A$31.00 from A$32.30. Analysts attribute this change to slightly softer revenue growth and P/E expectations, which are partly offset by a modestly higher profit margin in their models.
HVN
AU$5.02
Harvey Norman Holdings
7D
-1.6%
1Y
-1.8%
TLC
AU$5.39
Lottery
7D
0.4%
1Y
11.8%
AGI
AU$1.14
Ainsworth Game Technology
7D
6.0%
1Y
32.6%
LNW
AU$114.62
Light & Wonder
7D
0.8%
1Y
-31.0%