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Accent Group ASX:AX1 Stock Report

Last Price


Market Cap







29 Sep, 2022


Company Financials +
AX1 fundamental analysis
Snowflake Score
Future Growth3/6
Past Performance2/6
Financial Health4/6

AX1 Stock Overview

Accent Group Limited engages in the retail, distribution, and franchise of lifestyle footwear, and apparel and accessories in Australia and New Zealand.

Accent Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Accent Group
Historical stock prices
Current Share PriceAU$1.33
52 Week HighAU$2.77
52 Week LowAU$1.14
1 Month Change-12.21%
3 Month Change6.40%
1 Year Change-40.63%
3 Year Change-18.90%
5 Year Change68.35%
Change since IPO133.33%

Recent News & Updates

Sep 05
Returns On Capital Signal Tricky Times Ahead For Accent Group (ASX:AX1)

Returns On Capital Signal Tricky Times Ahead For Accent Group (ASX:AX1)

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...

Aug 22
Accent Group (ASX:AX1) Is Paying Out A Larger Dividend Than Last Year

Accent Group (ASX:AX1) Is Paying Out A Larger Dividend Than Last Year

The board of Accent Group Limited ( ASX:AX1 ) has announced that it will be paying its dividend of A$0.04 on the 15th...

Shareholder Returns

AX1AU Specialty RetailAU Market

Return vs Industry: AX1 underperformed the Australian Specialty Retail industry which returned -24.7% over the past year.

Return vs Market: AX1 underperformed the Australian Market which returned -12.6% over the past year.

Price Volatility

Is AX1's price volatile compared to industry and market?
AX1 volatility
AX1 Average Weekly Movement7.4%
Specialty Retail Industry Average Movement7.0%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.8%
10% least volatile stocks in AU Market4.2%

Stable Share Price: AX1 is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: AX1's weekly volatility (7%) has been stable over the past year.

About the Company

19816,500Daniel Agostinelli

Accent Group Limited engages in the retail, distribution, and franchise of lifestyle footwear, and apparel and accessories in Australia and New Zealand. The company’s brands and banners include The Athlete’s Foot, Platypus Shoes, Hype DC, Skechers, Merrell, CAT, Vans, Dr. Martens, Saucony, Timberland, Hoka One One, Superga, Kappa, Palladium, Supra, Subtype, The Trybe, Stylerunner, Glue Store and Autry. It also operates 760 stores and 36 websites across 26 various retail banners, as well as holds exclusive distribution rights for 18 international brands.

Accent Group Fundamentals Summary

How do Accent Group's earnings and revenue compare to its market cap?
AX1 fundamental statistics
Market CapAU$685.46m
Earnings (TTM)AU$31.46m
Revenue (TTM)AU$1.13b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AX1 income statement (TTM)
Cost of RevenueAU$504.99m
Gross ProfitAU$624.81m
Other ExpensesAU$593.34m

Last Reported Earnings

Jun 26, 2022

Next Earnings Date


Earnings per share (EPS)0.058
Gross Margin55.30%
Net Profit Margin2.78%
Debt/Equity Ratio38.4%

How did AX1 perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is AX1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AX1?

Other financial metrics that can be useful for relative valuation.

AX1 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA11.8x
PEG Ratio1.2x

Price to Earnings Ratio vs Peers

How does AX1's PE Ratio compare to its peers?

AX1 PE Ratio vs Peers
The above table shows the PE ratio for AX1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.3x
UNI Universal Store Holdings
CCX City Chic Collective
BST Best & Less Group Holdings
PMV Premier Investments
AX1 Accent Group

Price-To-Earnings vs Peers: AX1 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does AX1's PE Ratio compare vs other companies in the AU Specialty Retail Industry?

Price-To-Earnings vs Industry: AX1 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the Australian Specialty Retail industry average (9.7x)

Price to Earnings Ratio vs Fair Ratio

What is AX1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AX1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: AX1 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

Share Price vs Fair Value

What is the Fair Price of AX1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AX1 (A$1.33) is trading below our estimate of fair value (A$6.48)

Significantly Below Fair Value: AX1 is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is Accent Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score


Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AX1's forecast earnings growth (18.8% per year) is above the savings rate (1.8%).

Earnings vs Market: AX1's earnings (18.8% per year) are forecast to grow faster than the Australian market (6.6% per year).

High Growth Earnings: AX1's earnings are forecast to grow, but not significantly.

Revenue vs Market: AX1's revenue (7% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: AX1's revenue (7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: AX1's Return on Equity is forecast to be low in 3 years time (17.9%).

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Past Performance

How has Accent Group performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AX1 has high quality earnings.

Growing Profit Margin: AX1's current net profit margins (2.8%) are lower than last year (7.8%).

Past Earnings Growth Analysis

Earnings Trend: AX1's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: AX1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AX1 had negative earnings growth (-59.1%) over the past year, making it difficult to compare to the Specialty Retail industry average (-0.5%).

Return on Equity

High ROE: AX1's Return on Equity (7.1%) is considered low.

Discover strong past performing companies

Financial Health

How is Accent Group's financial position?

Financial Health Score


Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AX1's short term assets (A$375.2M) exceed its short term liabilities (A$313.1M).

Long Term Liabilities: AX1's short term assets (A$375.2M) do not cover its long term liabilities (A$462.5M).

Debt to Equity History and Analysis

Debt Level: AX1's net debt to equity ratio (27.1%) is considered satisfactory.

Reducing Debt: AX1's debt to equity ratio has increased from 28.2% to 38.4% over the past 5 years.

Debt Coverage: AX1's debt is well covered by operating cash flow (83%).

Interest Coverage: AX1's interest payments on its debt are well covered by EBIT (4.1x coverage).

Balance Sheet

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What is Accent Group current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Accent Group Dividend Yield vs Market
How does Accent Group dividend yield compare to the market?
SegmentDividend Yield
Company (Accent Group)4.9%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Specialty Retail)6.3%
Analyst forecast in 3 Years (Accent Group)8.2%

Notable Dividend: AX1's dividend (4.89%) is higher than the bottom 25% of dividend payers in the Australian market (2.8%).

High Dividend: AX1's dividend (4.89%) is low compared to the top 25% of dividend payers in the Australian market (7.19%).

Stability and Growth of Payments

Stable Dividend: AX1's dividend payments have been volatile in the past 10 years.

Growing Dividend: AX1's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (111.9%), AX1's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (37.3%), AX1's dividend payments are well covered by cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Daniel Agostinelli





Mr. Daniel John Agostinelli has been an Interim Divisional CEO for Accent Vertical & Apparel Brands at Accent Group Limited since April 2022. He has been Chief Executive Officer of Accent Group Limited (fo...

CEO Compensation Analysis

Daniel Agostinelli's Compensation vs Accent Group Earnings
How has Daniel Agostinelli's remuneration changed compared to Accent Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 26 2022AU$3mAU$1m


Mar 26 2022n/an/a


Dec 26 2021n/an/a


Sep 26 2021n/an/a


Jun 27 2021AU$4mAU$1m


Mar 27 2021n/an/a


Dec 27 2020n/an/a


Sep 27 2020n/an/a


Jun 28 2020n/an/a


Mar 28 2020n/an/a


Dec 29 2019n/an/a


Sep 29 2019n/an/a


Jun 30 2019AU$3mAU$1m


Mar 31 2019n/an/a


Dec 30 2018n/an/a


Sep 30 2018n/an/a


Jul 01 2018AU$2mAU$916k


Apr 01 2018n/an/a


Dec 31 2017n/an/a


Sep 30 2017n/an/a


Jul 02 2017AU$1mAU$565k


Apr 02 2017n/an/a


Dec 25 2016n/an/a


Sep 25 2016n/an/a


Jun 26 2016AU$809kAU$558k


Compensation vs Market: Daniel's total compensation ($USD1.72M) is above average for companies of similar size in the Australian market ($USD897.98K).

Compensation vs Earnings: Daniel's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: AX1's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: AX1's board of directors are considered experienced (4.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: AX1 insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

ASX:AX1 Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
26 Aug 22BuyAU$49,995Joshua Peter LowcockIndividual30,300AU$1.65
13 May 22BuyAU$5,119,998Brett BlundyIndividual4,000,000AU$1.28
11 May 22BuyAU$214,828Daniel AgostinelliIndividual162,000AU$1.33
10 May 22BuyAU$740,428Brett BlundyIndividual586,245AU$1.26
09 May 22BuyAU$5,602,757Brett BlundyIndividual4,373,467AU$1.28

Ownership Breakdown

What is the ownership structure of AX1?
Owner TypeNumber of SharesOwnership Percentage
Private Companies5,012,4000.9%
Public Companies5,204,9711.0%
Individual Insiders205,344,42837.9%
General Public285,226,60952.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 46.71% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Brett Blundy
107,502,463A$143.0m0%no data
Craig Thompson
32,518,614A$43.2m0%no data
Daniel Agostinelli
18,000,224A$23.9m0.91%no data
The Vanguard Group, Inc.
16,716,014A$22.2m0.2%no data
James Duell
12,500,000A$16.6m0%no data
Daniel Gilbert
11,000,000A$14.6m0%no data
Cindy Gilbert
11,000,000A$14.6m0%no data
Dimensional Fund Advisors LP
7,878,220A$10.5m2.06%no data
Michael Hapgood
7,500,000A$10.0m0%no data
Washington H. Soul Pattinson and Company Limited
5,204,971A$6.9m0%no data
Norges Bank Investment Management
3,714,549A$4.9m0%no data
BlackRock, Inc.
3,644,809A$4.8m-9.3%no data
David Gordon
2,599,034A$3.5m0%no data
Pittmann Pty Limited
2,410,000A$3.2m-11.66%no data
State Street Global Advisors, Inc.
1,957,069A$2.6m6.64%no data
Tom Hadley Enterprises Pty. Ltd.
1,500,000A$2.0m0%no data
Geoffrey Webster
1,295,642A$1.7m0%no data
WisdomTree Asset Management, Inc.
Terry Spyrides
1,150,000A$1.5m0%no data
Roanne Pty Ltd
1,102,400A$1.5m0%no data
Walter Scott & Partners Limited
945,700A$1.3m0%no data
Charles Schwab Investment Management, Inc.
542,014A$720.9k1.93%no data
Teachers Insurance and Annuity Association-College Retirement Equities Fund
413,137A$549.5k-69.29%no data
AXA Investment Managers S.A.
378,714A$503.7k0%no data
Jupiter Fund Management Plc
374,907A$498.6k270.47%no data

Company Information

Accent Group Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Accent Group Limited
  • Ticker: AX1
  • Exchange: ASX
  • Founded: 1981
  • Industry: Apparel Retail
  • Sector: Retail
  • Implied Market Cap: AU$685.461m
  • Shares outstanding: 541.87m
  • Website:

Number of Employees


  • Accent Group Limited
  • 2/64 Balmain Street
  • Richmond
  • Victoria
  • 3121
  • Australia


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AX1ASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJul 2004
AX1CHIA (Chi-X Australia)YesOrdinary SharesAUAUDJul 2004
RJDDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2004

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Annual Earnings2022/06/26

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.