Step One Clothing Future Growth
Future criteria checks 3/6
Step One Clothing's revenue is forecast to decline at 2.4% per annum while its annual earnings are expected to grow at 96.2% per year. EPS is expected to grow by 127.4% per annum. Return on equity is forecast to be 5.5% in 3 years.
Key information
96.2%
Earnings growth rate
127.42%
EPS growth rate
| Specialty Retail earnings growth | 11.3% |
| Revenue growth rate | -2.4% |
| Future return on equity | 5.46% |
| Analyst coverage | Low |
| Last updated | 28 Apr 2026 |
Recent future growth updates
Recent updates
Narrative Update • Jun 01
STP: Index Removal And Stable Margins Will Support Future Capital Upside
Analysts have nudged their price target for Step One Clothing to A$0.25. The small adjustment is mainly tied to a slightly higher discount rate and a marginally updated future P/E assumption, while revenue growth and profit margin expectations remain effectively unchanged.Narrative Update • May 15
STP: Trimmed Fair Value And Margins Will Support Future Capital Upside
Analysts have trimmed their fair value estimate for Step One Clothing from A$0.29 to A$0.25 as they factor in a slightly lower projected profit margin, softer revenue growth expectations and a modestly lower future P/E, partly offset by a small reduction in the discount rate. What's in the News Step One Clothing was removed from the S&P/ASX Emerging Companies Index, which can affect how index-tracking funds and some institutional investors hold the stock (Key Developments).Narrative Update • Apr 21
STP: Stable Fair Value And Margins Will Support Future Capital Upside
Analysts have kept their fair value estimate for Step One Clothing steady at A$0.29, with only slight adjustments to inputs such as discount rate, revenue growth, profit margin, and future P/E, helping to refine rather than materially shift the overall price target view. What's in the News Step One Clothing Limited was removed from the S&P/ASX Emerging Companies Index, which may affect how some index and rules based funds hold or trade the stock (Key Developments).Narrative Update • Apr 06
STP: Stable Fair Value And Margins Will Support Future Capital Upside
Analysts have reduced their price target for Step One Clothing to A$0.29, citing a slightly higher discount rate and adjusted future P/E assumptions, while keeping the fair value unchanged at A$0.29. What's in the News Step One Clothing Limited was removed as a constituent of the S&P/ASX Emerging Companies Index, which can affect how some index and benchmark aware investors track the share (Key Developments).Narrative Update • Mar 22
STP: Stable Fair Value And Margins Will Support Future Capital Upside
Analysts have kept their fair value estimate for Step One Clothing steady at A$0.29, with only slight tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. These adjustments have resulted in no material change to the overall price target.Narrative Update • Mar 08
STP: Stable Fair Value And Margins Will Support Future P/E Upside
Analysts have kept Step One Clothing's fair value estimate steady at A$0.29, with only small tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E guiding this unchanged price target. What's in the News Step One Clothing Limited declared no dividend for the half year ended 31 December 2025, removing an income stream for shareholders for that period (Key Developments).Narrative Update • Feb 22
STP: Moderating Revenue Pressures And Margin Assumptions Will Shape Future P/E Support
Analysts have trimmed their fair value estimate for Step One Clothing from A$0.30 to A$0.29 as they factor in updated assumptions for revenue trends, profit margins, discount rate and future P/E expectations. What's in the News Step One Clothing Limited declared no dividend for the half year ended 31 December 2025, which may matter if you were counting on income from the stock (Key Developments).Narrative Update • Feb 08
STP: Softer Revenue And Margin Outlook Will Temper Future P/E Support
Analysts have reduced their price target for Step One Clothing to reflect a lower fair value estimate and a softer outlook for revenue growth and profit margins, while only modestly adjusting assumptions for the discount rate and future P/E. Valuation Changes The Fair Value Estimate has been reduced from 0.57612 to 0.30112, indicating a large cut to the assessed equity value per share.Narrative Update • Jan 24
STP: Stable Margins And Higher Future P/E Will Support Share Price Rebound
Analysts have trimmed their price target on Step One Clothing slightly, reflecting a marginally higher discount rate and a small adjustment to the assumed future P/E multiple, while keeping the fair value estimate broadly unchanged. Valuation Changes Fair Value: Fair value per share is unchanged at A$0.58.Narrative Update • Jan 10
STP: Stable Margins And Future P/E Will Support Share Price Rebound
Analysts have trimmed their price target for Step One Clothing to reflect a slightly lower discount rate and a marginally adjusted future P/E assumption, while keeping fair value essentially unchanged in currency terms. Valuation Changes Fair value: unchanged at A$0.58 per share, with the updated model leaving the headline valuation level intact.Narrative Update • Dec 19
STP: Future Earnings Multiple Will Support A Rebound From Recent Market Pessimism
Narrative Update on Step One Clothing Analysts have nudged their fair value estimate for Step One Clothing slightly higher, from A$0.575 to A$0.576. They cite marginally improved long term revenue growth assumptions and a modestly higher future price to earnings multiple, despite a slightly increased discount rate.Narrative Update • Dec 05
STP: Future Margins Will Support A Rebound From Recent Market Pessimism
Narrative Update on Step One Clothing Analyst Price Target Analysts have reduced their price target on Step One Clothing from approximately $0.90 to about $0.58, citing slightly higher perceived risk, weaker near term revenue growth expectations, and lower projected profit margins despite a modestly higher future price to earnings multiple. Valuation Changes Fair Value Estimate has fallen significantly from A$0.90 to A$0.575, implying a notable reduction in perceived intrinsic value.Analysis Article • Dec 04
Step One Clothing Limited's (ASX:STP) 38% Dip In Price Shows Sentiment Is Matching Earnings
The Step One Clothing Limited ( ASX:STP ) share price has fared very poorly over the last month, falling by a...Analysis Article • Dec 04
Little Excitement Around Step One Clothing Limited's (ASX:STP) Earnings As Shares Take 38% Pounding
The Step One Clothing Limited ( ASX:STP ) share price has fared very poorly over the last month, falling by a...Narrative Update • Aug 21
UK Partnerships With John Lewis Will Strengthen Future Brand Credibility
The downward revision in Step One Clothing’s fair value reflects weaker fundamentals, as both net profit margin and revenue growth forecasts have declined, driving the consensus analyst price target from A$1.38 to A$0.90. Valuation Changes Summary of Valuation Changes for Step One Clothing The Consensus Analyst Price Target has significantly fallen from A$1.38 to A$0.90.Analysis Article • Jul 01
Should You Be Adding Step One Clothing (ASX:STP) To Your Watchlist Today?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
New Narrative • Mar 10
UK Partnerships With John Lewis Will Strengthen Future Brand Credibility
Strategic focus on efficient customer acquisition and marketing reduces costs and could enhance net margins and profitability.Analysis Article • Feb 23
Step One Clothing (ASX:STP) Is Increasing Its Dividend To A$0.044
Step One Clothing Limited's ( ASX:STP ) periodic dividend will be increasing on the 14th of March to A$0.044, with...Analysis Article • Feb 18
Earnings Not Telling The Story For Step One Clothing Limited (ASX:STP)
There wouldn't be many who think Step One Clothing Limited's ( ASX:STP ) price-to-earnings (or "P/E") ratio of 21x is...Analysis Article • Nov 19
Is Now The Time To Look At Buying Step One Clothing Limited (ASX:STP)?
Step One Clothing Limited ( ASX:STP ), is not the largest company out there, but it received a lot of attention from a...Analysis Article • Sep 25
Estimating The Intrinsic Value Of Step One Clothing Limited (ASX:STP)
Key Insights The projected fair value for Step One Clothing is AU$2.28 based on 2 Stage Free Cash Flow to Equity...Analysis Article • May 14
With EPS Growth And More, Step One Clothing (ASX:STP) Makes An Interesting Case
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Jan 17
Calculating The Intrinsic Value Of Step One Clothing Limited (ASX:STP)
Key Insights The projected fair value for Step One Clothing is AU$1.37 based on 2 Stage Free Cash Flow to Equity With...Analysis Article • Dec 18
There's Reason For Concern Over Step One Clothing Limited's (ASX:STP) Massive 38% Price Jump
Step One Clothing Limited ( ASX:STP ) shares have continued their recent momentum with a 38% gain in the last month...Analysis Article • Jun 15
Step One Clothing Limited's (ASX:STP) Business Is Yet to Catch Up With Its Share Price
There wouldn't be many who think Step One Clothing Limited's ( ASX:STP ) price-to-sales (or "P/S") ratio of 0.9x is...Analysis Article • Feb 28
Step One Clothing's (ASX:STP) Earnings Are Weaker Than They Seem
Step One Clothing Limited ( ASX:STP ) just reported some strong earnings, and the market reacted accordingly with a...Analysis Article • Dec 14
We're Interested To See How Step One Clothing (ASX:STP) Uses Its Cash Hoard To Grow
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...Analysis Article • Jul 28
We Think Step One Clothing (ASX:STP) Can Easily Afford To Drive Business Growth
Just because a business does not make any money, does not mean that the stock will go down. For example, although...Analysis Article • Apr 28
Step One Clothing (ASX:STP) Is In A Strong Position To Grow Its Business
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 6/30/2028 | 68 | 2 | 2 | 2 | 2 |
| 6/30/2027 | 67 | 1 | 3 | 3 | 2 |
| 6/30/2026 | 65 | -5 | 2 | 2 | 2 |
| 12/31/2025 | 75 | -4 | -7 | -7 | N/A |
| 9/30/2025 | 81 | 4 | 1 | 1 | N/A |
| 6/30/2025 | 87 | 13 | 8 | 8 | N/A |
| 3/31/2025 | 87 | 13 | 11 | 11 | N/A |
| 12/31/2024 | 88 | 13 | 14 | 14 | N/A |
| 9/30/2024 | 86 | 13 | 16 | 16 | N/A |
| 6/30/2024 | 85 | 12 | 18 | 19 | N/A |
| 3/31/2024 | 79 | 11 | 20 | 20 | N/A |
| 12/31/2023 | 74 | 10 | 21 | 21 | N/A |
| 9/30/2023 | 70 | 10 | 13 | 13 | N/A |
| 6/30/2023 | 65 | 9 | 5 | 5 | N/A |
| 3/31/2023 | 68 | 7 | 0 | 0 | N/A |
| 12/31/2022 | 70 | 6 | -5 | -5 | N/A |
| 9/30/2022 | 71 | 2 | -7 | -7 | N/A |
| 6/30/2022 | 72 | -3 | -9 | -9 | N/A |
| 3/31/2022 | 69 | -6 | -9 | -9 | N/A |
| 12/31/2021 | 66 | -8 | -9 | -9 | N/A |
| 9/30/2021 | 64 | -4 | -1 | -1 | N/A |
| 6/30/2021 | 62 | 0 | 7 | 7 | N/A |
| 6/30/2020 | 22 | 4 | 6 | 6 | N/A |
| 6/30/2019 | 8 | 2 | N/A | 2 | N/A |
| 6/30/2018 | 1 | 0 | N/A | 0 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: STP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.6%).
Earnings vs Market: STP is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: STP is expected to become profitable in the next 3 years.
Revenue vs Market: STP's revenue is expected to decline over the next 3 years (-2.4% per year).
High Growth Revenue: STP's revenue is forecast to decline over the next 3 years (-2.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: STP's Return on Equity is forecast to be low in 3 years time (5.5%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/13 04:31 |
| End of Day Share Price | 2026/06/12 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
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Industry and Sector Metrics
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Analyst Sources
Step One Clothing Limited is covered by 3 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Chamithri Ratnapala | Bell Potter |
| Leo Armati | Bell Potter |
| Emily Porter | Morgans Financial Limited |