Reported Earnings • Mar 04
First half 2026 earnings released: EPS: AU$0.17 (vs AU$0.10 in 1H 2025) First half 2026 results: EPS: AU$0.17 (up from AU$0.10 in 1H 2025). Revenue: AU$81.7m (up 11% from 1H 2025). Net income: AU$5.14m (up 68% from 1H 2025). Profit margin: 6.3% (up from 4.2% in 1H 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Declared Dividend • Mar 01
Final dividend of AU$0.13 announced Shareholders will receive a dividend of AU$0.13. Ex-date: 12th March 2026 Payment date: 27th March 2026 Dividend yield will be 5.2%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
Joyce Corporation Ltd Announces Ordinary Fully Franked Interim Dividend for the Six Months Ended December 31, 2025 , Payable on March 27, 2026 Joyce Corporation Ltd. announced ordinary fully franked interim dividend of AUD 0.13000000 per share for the six months ended December 31, 2025. The record date is 13 March 2026 and the payment date is 27 March 2026. Ex date: March 12, 2026. Announcement • Oct 10
Joyce Corporation Ltd, Annual General Meeting, Nov 27, 2025 Joyce Corporation Ltd, Annual General Meeting, Nov 27, 2025. Reported Earnings • Sep 01
Full year 2025 earnings released: EPS: AU$0.25 (vs AU$0.31 in FY 2024) Full year 2025 results: EPS: AU$0.25 (down from AU$0.31 in FY 2024). Revenue: AU$148.2m (up 1.8% from FY 2024). Net income: AU$7.35m (down 17% from FY 2024). Profit margin: 5.0% (down from 6.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Declared Dividend • Aug 31
First half dividend of AU$0.17 announced Shareholders will receive a dividend of AU$0.17. Ex-date: 11th September 2025 Payment date: 3rd October 2025 Dividend yield will be 5.4%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is well covered by cash flows (32% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.1% to bring the payout ratio under control, which is less than the 19% EPS growth achieved over the last 5 years. Declared Dividend • Mar 03
First half dividend of AU$0.10 announced Shareholders will receive a dividend of AU$0.10. Ex-date: 13th March 2025 Payment date: 4th April 2025 Dividend yield will be 5.8%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is well covered by cash flows (32% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control, which is less than the 19% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$4.90, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 18x in the Specialty Retail industry in Australia. Total returns to shareholders of 59% over the past three years. Announcement • Nov 22
Joyce Corporation Ltd Announces Executive Changes Joyce Corporation Ltd. advises that Mr. Dan Madden has resigned as Joint Company Secretary, effective 22 November 2024. Mr. Tim Allison continues in the role of Company Secretary and, for the purposes of ASX Listing Rule 12.6,
remains the primary person responsible for communication between the Company and the ASX. Announcement • Oct 09
Joyce Corporation Ltd, Annual General Meeting, Nov 21, 2024 Joyce Corporation Ltd, Annual General Meeting, Nov 21, 2024. Reported Earnings • Sep 03
Full year 2024 earnings released: EPS: AU$0.31 (vs AU$0.28 in FY 2023) Full year 2024 results: EPS: AU$0.31 (up from AU$0.28 in FY 2023). Revenue: AU$145.5m (flat on FY 2023). Net income: AU$8.86m (up 12% from FY 2023). Profit margin: 6.1% (up from 5.5% in FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Declared Dividend • Sep 01
First half dividend of AU$0.17 announced Shareholders will receive a dividend of AU$0.17. Ex-date: 12th September 2024 Payment date: 4th October 2024 Dividend yield will be 6.8%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jul 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (AU$115.0m market cap, or US$77.5m). Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to AU$4.30, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 15x in the Specialty Retail industry in Australia. Total returns to shareholders of 122% over the past three years. Upcoming Dividend • Mar 04
Upcoming dividend of AU$0.11 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 05 April 2024. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 7.2%. Within top quartile of Australian dividend payers (6.3%). Higher than average of industry peers (4.6%). Declared Dividend • Feb 29
First half dividend of AU$0.11 announced Shareholders will receive a dividend of AU$0.11. Ex-date: 11th March 2024 Payment date: 5th April 2024 Dividend yield will be 8.2%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
First half 2024 earnings released: EPS: AU$0.17 (vs AU$0.13 in 1H 2023) First half 2024 results: EPS: AU$0.17 (up from AU$0.13 in 1H 2023). Revenue: AU$73.1m (up 6.0% from 1H 2023). Net income: AU$4.74m (up 34% from 1H 2023). Profit margin: 6.5% (up from 5.1% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Oct 12
Joyce Corporation Ltd, Annual General Meeting, Nov 24, 2023 Joyce Corporation Ltd, Annual General Meeting, Nov 24, 2023. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.17 per share at 7.6% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 7.6%. Within top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (5.7%). Reported Earnings • Sep 01
Full year 2023 earnings released: EPS: AU$0.28 (vs AU$0.32 in FY 2022) Full year 2023 results: EPS: AU$0.28 (down from AU$0.32 in FY 2022). Revenue: AU$144.7m (up 12% from FY 2022). Net income: AU$7.93m (down 13% from FY 2022). Profit margin: 5.5% (down from 7.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (AU$74.7m market cap, or US$48.4m). Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AU$2.70, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 9x in the Specialty Retail industry in Australia. Total returns to shareholders of 279% over the past three years. Upcoming Dividend • Mar 06
Upcoming dividend of AU$0.08 per share at 5.2% yield Eligible shareholders must have bought the stock before 13 March 2023. Payment date: 31 March 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Australian dividend payers (7.0%). In line with average of industry peers (5.6%). Reported Earnings • Mar 02
First half 2023 earnings released: EPS: AU$0.13 (vs AU$0.13 in 1H 2022) First half 2023 results: EPS: AU$0.13 (down from AU$0.13 in 1H 2022). Revenue: AU$68.8m (up 12% from 1H 2022). Net income: AU$3.54m (down 5.2% from 1H 2022). Profit margin: 5.1% (down from 6.1% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Non-Executive Director Mike Gurry was the last independent director to join the board, commencing their role in 2007. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 04
Joyce Corporation Ltd, Annual General Meeting, Nov 24, 2022 Joyce Corporation Ltd, Annual General Meeting, Nov 24, 2022. Recent Insider Transactions • Sep 06
Insider recently sold AU$1.1m worth of stock On the 2nd of September, John Westwood sold around 350k shares on-market at roughly AU$3.23 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Sep 05
Upcoming dividend of AU$0.10 per share Eligible shareholders must have bought the stock before 12 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Australian dividend payers (6.6%). In line with average of industry peers (5.9%). Announcement • Sep 01
Joyce Corporation Ltd Appoints Nick Palmer as A Non-Executive Director Joyce Corporation Ltd. announced the appointment of Mr. Nick Palmer as a Non-Executive Director as of 1 September 2022. Nick is an experienced chief executive officer, director and strategic advisor with extensive retail and consumer experience having held the roles of Group Managing Director of Spotlight Group Holdings and CEO and Managing Director of Radio Rentals Group. Nick has a proven track record of delivering strategic change and transformation and growth with demonstrated experience in strategy development, complex problem solving, change management, and business development in many industries across the globe. Nick also has an extensive background as a management consultant having held the senior roles of Partner at Bain & Company and Principal at The Boston Consulting Group. Most recently Nick has been leading and advising enterprising, privately held businesses and their owners during periods of change and transition. Reported Earnings • Aug 31
Full year 2022 earnings released: EPS: AU$0.32 (vs AU$0.27 in FY 2021) Full year 2022 results: EPS: AU$0.32 (up from AU$0.27 in FY 2021). Revenue: AU$129.0m (up 16% from FY 2021). Net income: AU$9.09m (up 20% from FY 2021). Profit margin: 7.0% (up from 6.8% in FY 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Joyce Corporation Ltd Announces Final Dividend for Period Ended June 30, 2022, Payment Date Is September 30, 2022 Joyce Corporation Ltd. announced final dividend for period ended June 30, 2022 of AUD 0.10500000. Ex Date is September 12, 2022. Record Date is September 13, 2022. Payment Date is September 30, 2022. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 16% share price gain to AU$2.90, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 10x in the Specialty Retail industry in Australia. Total returns to shareholders of 147% over the past three years. Announcement • Jun 29
Joyce Corporation Ltd, Annual General Meeting, Sep 28, 2022 Joyce Corporation Ltd, Annual General Meeting, Sep 28, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Mike Gurry was the last independent director to join the board, commencing their role in 2007. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 02
Upcoming dividend of AU$0.075 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 25 March 2022. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 6.1%. Within top quartile of Australian dividend payers (5.7%). Higher than average of industry peers (5.3%). Reported Earnings • Feb 28
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.13 (down from AU$0.17 in 1H 2021). Revenue: AU$61.5m (up 16% from 1H 2021). Net income: AU$3.73m (down 22% from 1H 2021). Profit margin: 6.1% (down from 9.1% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 33% per year. Announcement • Feb 25
Joyce Corporation Ltd Announces Fully Franked Interim Dividend for the Six Months Ended December 31, 2021, Payable on 9 March 25, 2022 The board of directors of Joyce Corporation Ltd. has resolved to distribute a fully franked interim dividend of 7.5 cents per share for the six months ended December 31, 2021 compared to 7 cents in the pcp. The Dividend is to be paid on 25 March to all shareholders registered as at the record date of 10 March 2022. Ex-date is March 9, 2022. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 15% share price gain to AU$3.75, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 12x in the Specialty Retail industry in Australia. Total returns to shareholders of 212% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 25% share price gain to AU$3.50, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 11x in the Specialty Retail industry in Australia. Total returns to shareholders of 175% over the past three years. Reported Earnings • Sep 01
Full year 2021 earnings released: EPS AU$0.27 (vs AU$0.039 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$111.2m (up 27% from FY 2020). Net income: AU$7.57m (up AU$8.68m from FY 2020). Profit margin: 6.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 20% share price gain to AU$2.40, the stock is trading at a trailing P/E ratio of 31.5x, up from the previous P/E ratio of 26.3x. This compares to an average P/E of 15x in the Specialty Retail industry in Australia. Total returns to shareholders over the past three years are 95%. Is New 90 Day High Low • Feb 26
New 90-day high: AU$2.17 The company is up 36% from its price of AU$1.60 on 27 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 27
New 90-day high: AU$1.85 The company is up 25% from its price of AU$1.49 on 29 October 2020. The Australian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 13% over the same period. Announcement • Dec 15
Joyce Corporation Ltd Appoints Dan Madden as Joint Company Secretary Joyce Corporation Ltd. appointed Dan Madden, the company’s CEO, as Joint Company Secretary, effective December 14, 2020. Recent Insider Transactions • Dec 10
Deputy Chairman of the Board recently bought AU$2.2m worth of stock On the 1st of December, Karen Gadsby bought around 13k shares on-market at roughly AU$166 per share. This was the largest purchase by an insider in the last 3 months. Karen has been a buyer over the last 12 months, purchasing a net total of AU$2.2m worth in shares. Is New 90 Day High Low • Dec 08
New 90-day high: AU$1.78 The company is up 16% from its price of AU$1.54 on 09 September 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 11% over the same period. Is New 90 Day High Low • Nov 06
New 90-day high: AU$1.65 The company is up 38% from its price of AU$1.20 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 20% over the same period. Announcement • Oct 16
Joyce Corporation Ltd Announces the Cessation of Anita Hollenberg as Company Secretary Joyce Corporation Ltd. announced the cessation of Anita Hollenberg as Company Secretary, effective 14 October 2020. Announcement • Oct 06
Joyce Corporation Ltd Announces Executive Changes Joyce Corporation Ltd. announced the appointment of Dan Madden to succeed Keith Smith as CEO of Joyce Corporation. Mr. Madden was until recently Managing Director and CEO of the ASX listed Talisman Mining Ltd., for over 4 years. Prior to that he held CFO/General Manager Finance roles in ASX listed and multinational organizations for 10 years. Mr. Madden will assume the Joyce CEO role following the AGM in November. As previously announced Mr. Smith has agreed to stay on to assist with the CEO transition. Announcement • Jun 18
Jacqst Enterprises Pty. Ltd. as trustee for the Sarkis Family Trust No. 6 agreed to acquire 46% interest in Lloyds Auctioneers and Valuers Pty Ltd from Joyce Corporation Ltd (ASX : JYC) for $3.8 million. Jacqst Enterprises Pty. Ltd. as trustee for the Sarkis Family Trust No. 6 agreed to acquire 46% interest in Lloyds Auctioneers and Valuers Pty Ltd from Joyce Corporation Ltd (ASX : JYC) for $3.8 million on June 17, 2020. Under the terms of transaction, Joyce Corporation Ltd has agreed to sell 3,151,830 fully paid ordinary shares in Lloyds (representing a 46% shareholding) to Jacqst Enterprises Pty Ltd as trustee for the Sarkis Family Trust No 6. A sum of $0.5 million non-refundable deposit is payable by Jacqst Enterprises Pty Ltd to Jacqst Enterprises Pty. Ltd on execution of the sale agreement. The remaining $3.3 million of the consideration is payable by the Jacqst Enterprises Pty. Ltd. to an escrow account with the full amount being payable by 24 September 2020. The deal is expected to close 3 days after $3.3 million (being consideration less the deposit) has been paid into the escrow account. The $3.3 million will be released to Joyce Corporation Ltd on closing of the transaction. On completion, Joyce Corporation Ltd will cease to hold any shares in Lloyds Auctioneers and Valuers Pty Ltd. The sale agreement contains other customary terms for an agreement of this nature, including termination rights if a defaulting party does not complete the transaction when required. If the sale agreement is terminated, amounts held in escrow will be returned to the Jacqst Enterprises Pty. Ltd.