company background image
WHS

Warehouse GroupNZSE:WHS Stock Report

Market Cap

NZ$1.4b

7D

1.7%

1Y

66.9%

Updated

19 Oct, 2021

Data

Company Financials +
WHS fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance5/6
Financial Health5/6
Dividends5/6

WHS Overview

The Warehouse Group Limited, together with its subsidiaries, engages in the retail of general merchandise and apparel in New Zealand.

Warehouse Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Warehouse Group
Historical stock prices
Current Share PriceNZ$4.09
52 Week HighNZ$2.32
52 Week LowNZ$4.25
Beta0.29
1 Month Change8.20%
3 Month Change19.24%
1 Year Change66.94%
3 Year Change98.54%
5 Year Change38.18%
Change since IPO232.75%

Recent News & Updates

May 11
Do Warehouse Group's (NZSE:WHS) Earnings Warrant Your Attention?

Do Warehouse Group's (NZSE:WHS) Earnings Warrant Your Attention?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Apr 14
Returns On Capital At Warehouse Group (NZSE:WHS) Have Hit The Brakes

Returns On Capital At Warehouse Group (NZSE:WHS) Have Hit The Brakes

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...

Shareholder Returns

WHSNZ Multiline RetailNZ Market
7D1.7%0.8%-0.1%
1Y66.9%14.3%1.9%

Return vs Industry: WHS exceeded the NZ Multiline Retail industry which returned 14.3% over the past year.

Return vs Market: WHS exceeded the NZ Market which returned 1.9% over the past year.

Price Volatility

Is WHS's price volatile compared to industry and market?
WHS volatility
WHS Beta0.29
Industry Beta0.59
Market Beta1

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

Volatility Over Time: WHS's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982n/aNick Graystonhttps://www.thewarehousegroup.co.nz

The Warehouse Group Limited, together with its subsidiaries, engages in the retail of general merchandise and apparel in New Zealand. It also sells stationery products, technology and appliance products, and sporting equipment. The company operates 92 The Warehouse stores, 71 Warehouse Stationery stores, 74 Noel Leeming stores, and 20 Torpedo7 stores, as well as online stores.

Warehouse Group Fundamentals Summary

How do Warehouse Group's earnings and revenue compare to its market cap?
WHS fundamental statistics
Market CapNZ$1.41b
Earnings (TTM)NZ$117.65m
Revenue (TTM)NZ$3.41b

12.0x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
WHS income statement (TTM)
RevenueNZ$3.41b
Cost of RevenueNZ$2.17b
Gross ProfitNZ$1.24b
ExpensesNZ$1.12b
EarningsNZ$117.65m

Last Reported Earnings

Aug 01, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.34
Gross Margin36.35%
Net Profit Margin3.45%
Debt/Equity Ratio0%

How did WHS perform over the long term?

See historical performance and comparison

Dividends

8.6%

Current Dividend Yield

90%

Payout Ratio

Does WHS pay a reliable dividends?

See WHS dividend history and benchmarks
When do you need to buy WHS by to receive an upcoming dividend?
Warehouse Group dividend dates
Ex Dividend DateNov 17 2021
Dividend Pay DateDec 03 2021
Days until Ex dividend28 days
Days until Dividend pay date44 days

Does WHS pay a reliable dividends?

See WHS dividend history and benchmarks

Valuation

Is Warehouse Group undervalued compared to its fair value and its price relative to the market?

12.01x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: WHS (NZ$4.09) is trading above our estimate of fair value (NZ$2.55)

Significantly Below Fair Value: WHS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: WHS's PE Ratio (12x) is in line with the Oceanic Multiline Retail industry average.

PE vs Market: WHS is good value based on its PE Ratio (12x) compared to the NZ market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: WHS is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: WHS is overvalued based on its PB Ratio (3.1x) compared to the XO Multiline Retail industry average (2x).


Future Growth

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

4.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WHS's forecast earnings growth (4.8% per year) is above the savings rate (2.1%).

Earnings vs Market: WHS's earnings (4.8% per year) are forecast to grow slower than the NZ market (9.2% per year).

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

Revenue vs Market: WHS's revenue (0.9% per year) is forecast to grow slower than the NZ market (5.2% per year).

High Growth Revenue: WHS's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WHS's Return on Equity is forecast to be high in 3 years time (28.8%)


Past Performance

How has Warehouse Group performed over the past 5 years?

4.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WHS has a large one-off loss of NZ$89.2M impacting its August 1 2021 financial results.

Growing Profit Margin: WHS's current net profit margins (3.4%) are higher than last year (1.4%).


Past Earnings Growth Analysis

Earnings Trend: WHS's earnings have grown by 4% per year over the past 5 years.

Accelerating Growth: WHS's earnings growth over the past year (164.3%) exceeds its 5-year average (4% per year).

Earnings vs Industry: WHS earnings growth over the past year (164.3%) exceeded the Multiline Retail industry 18.5%.


Return on Equity

High ROE: WHS's Return on Equity (25.9%) is considered high.


Financial Health

How is Warehouse Group's financial position?


Financial Position Analysis

Short Term Liabilities: WHS's short term assets (NZ$705.8M) exceed its short term liabilities (NZ$624.1M).

Long Term Liabilities: WHS's short term assets (NZ$705.8M) do not cover its long term liabilities (NZ$817.8M).


Debt to Equity History and Analysis

Debt Level: WHS is debt free.

Reducing Debt: WHS has no debt compared to 5 years ago when its debt to equity ratio was 69.1%.

Debt Coverage: WHS has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: WHS has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

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

8.56%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 19 2021Ex Dividend DateNov 17 2021Dividend Pay DateDec 03 202116 days from Ex DividendBuy in the next 28 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: WHS's dividend (8.56%) is higher than the bottom 25% of dividend payers in the NZ market (2.44%).

High Dividend: WHS's dividend (8.56%) is in the top 25% of dividend payers in the NZ market (4.8%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (89.5%), WHS's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: WHS's dividends in 3 years are forecast to be covered by earnings (70.1% payout ratio).


Next Steps

Management

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

3.9yrs

Average management tenure


CEO

Nick Grayston

5.75yrs

Tenure

NZ$2,862,000

Compensation

Mr. Nick Grayston has been Group Chief Executive Officer of The Warehouse Group Limited since January 2015. Mr. Grayston joined Warehouse Group Limited in December 2015. Prior to, he has held a number of s...


CEO Compensation Analysis

Compensation vs Market: Nick's total compensation ($USD2.02M) is above average for companies of similar size in the NZ market ($USD732.31K).

Compensation vs Earnings: Nick's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: WHS's management team is considered experienced (3.9 years average tenure).


Board Members

Experienced Board: WHS's board of directors are considered experienced (5.1 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: The Warehouse Group Limited
  • Ticker: WHS
  • Exchange: NZSE
  • Founded: 1982
  • Industry: General Merchandise Stores
  • Sector: Retail
  • Market Cap: NZ$1.412b
  • Shares outstanding: 345.35m
  • Website: https://www.thewarehousegroup.co.nz

Number of Employees


Location

  • The Warehouse Group Limited
  • 26 The Warehouse Way
  • Northcote
  • Auckland
  • 627
  • New Zealand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 15:34
End of Day Share Price2021/10/19 00:00
Earnings2021/08/01
Annual Earnings2021/08/01


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.