The Warehouse Group Limited

NZSE:WHS Stock Report

Market Cap: NZ$202.0m

Warehouse Group Past Earnings Performance

Past criteria checks 1/6

Warehouse Group's earnings have been declining at an average annual rate of -48.3%, while the Multiline Retail industry saw earnings growing at 6.7% annually. Revenues have been declining at an average rate of 2.4% per year. Warehouse Group's return on equity is 0.5%, and it has net margins of 0.04%.

Key information

-48.35%

Earnings growth rate

-48.34%

EPS growth rate

Multiline Retail Industry Growth6.54%
Revenue growth rate-2.38%
Return on equity0.53%
Net Margin0.039%
Next Earnings Update24 Sep 2026

Recent past performance updates

Recent updates

New Narrative Apr 12

Store Expansion And Cost Reset Will Shape Margins While Keeping Shares Fairly Valued

Catalysts About Warehouse Group Warehouse Group operates a multi brand retail business in New Zealand across general merchandise, stationery and consumer electronics. What are the underlying business or industry changes driving this perspective?
New Narrative Mar 29

Leaner Operating Model And Category Focus Will Transform Long Term Profitability

Catalysts About Warehouse Group The Warehouse Group is a New Zealand retail group operating The Warehouse, Warehouse Stationery and Noel Leeming across general merchandise, technology and office supplies. What are the underlying business or industry changes driving this perspective?
User avatar
New Narrative Mar 10

Focusing On Core Brands And Efficiency Will Strengthen Future Position In New Zealand Retail

Streamlining efforts focus on divesting non-core businesses and investing in core brands to enhance operational efficiency and profitability.
Analysis Article Jul 22

The Warehouse Group Limited (NZSE:WHS) Shares Fly 36% But Investors Aren't Buying For Growth

The Warehouse Group Limited ( NZSE:WHS ) shareholders would be excited to see that the share price has had a great...
Analysis Article Jun 25

Warehouse Group (NZSE:WHS) Takes On Some Risk With Its Use Of Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article May 31

The Warehouse Group Limited (NZSE:WHS) Looks Inexpensive But Perhaps Not Attractive Enough

With a price-to-earnings (or "P/E") ratio of 9.5x The Warehouse Group Limited ( NZSE:WHS ) may be sending bullish...
Analysis Article May 08

Returns On Capital At Warehouse Group (NZSE:WHS) Paint A Concerning Picture

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things...
Analysis Article Mar 27

We Think You Can Look Beyond Warehouse Group's (NZSE:WHS) Lackluster Earnings

The Warehouse Group Limited's ( NZSE:WHS ) recent soft profit numbers didn't appear to worry shareholders, as the stock...
Analysis Article Nov 17

We Discuss Why The Warehouse Group Limited's (NZSE:WHS) CEO Compensation May Be Closely Reviewed

Key Insights Warehouse Group's Annual General Meeting to take place on 23rd of November Salary of NZ$1.59m is part of...
Analysis Article Oct 26

Warehouse Group's (NZSE:WHS) Shareholders Will Receive A Smaller Dividend Than Last Year

The Warehouse Group Limited ( NZSE:WHS ) is reducing its dividend from last year's comparable payment to NZ$0.0941 on...
Analysis Article Oct 12

Warehouse Group's (NZSE:WHS) Dividend Is Being Reduced To NZ$0.0941

The Warehouse Group Limited ( NZSE:WHS ) has announced that on 1st of December, it will be paying a dividend...
Analysis Article Nov 18

It's Unlikely That The Warehouse Group Limited's (NZSE:WHS) CEO Will See A Huge Pay Rise This Year

Performance at The Warehouse Group Limited ( NZSE:WHS ) has been reasonably good and CEO Nick Grayston has done a...
Analysis Article Nov 09

Warehouse Group (NZSE:WHS) Is Paying Out Less In Dividends Than Last Year

The Warehouse Group Limited's ( NZSE:WHS ) dividend is being reduced from last year's payment covering the same period...
Analysis Article Oct 26

Warehouse Group (NZSE:WHS) Is Paying Out Less In Dividends Than Last Year

The Warehouse Group Limited's ( NZSE:WHS ) dividend is being reduced from last year's payment covering the same period...
Analysis Article Aug 02

The Warehouse Group Limited's (NZSE:WHS) Intrinsic Value Is Potentially 75% Above Its Share Price

In this article we are going to estimate the intrinsic value of The Warehouse Group Limited ( NZSE:WHS ) by taking the...
Analysis Article Apr 28

Is The Warehouse Group Limited (NZSE:WHS) Trading At A 34% Discount?

Does the April share price for The Warehouse Group Limited ( NZSE:WHS ) reflect what it's really worth? Today, we will...
Analysis Article Apr 11

Here's Why I Think Warehouse Group (NZSE:WHS) Is An Interesting Stock

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Analysis Article May 11

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...
Analysis Article Apr 14

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...
Analysis Article Mar 01

Here's What We Think About Warehouse Group's (NZSE:WHS) CEO Pay

This article will reflect on the compensation paid to Nick Grayston who has served as CEO of The Warehouse Group...
Analysis Article Feb 11

Has The Warehouse Group Limited's (NZSE:WHS) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Most readers would already be aware that Warehouse Group's (NZSE:WHS) stock increased significantly by 30% over the...
Analysis Article Jan 24

Does Warehouse Group's (NZSE:WHS) Statutory Profit Adequately Reflect Its Underlying Profit?

It might be old fashioned, but we really like to invest in companies that make a profit, each and every year. Having...
Analysis Article Jan 06

What Do The Returns On Capital At Warehouse Group (NZSE:WHS) Tell Us?

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...

Revenue & Expenses Breakdown

How Warehouse Group makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

NZSE:WHS Revenue, expenses and earnings (NZD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
01 Feb 263,09215280
01 Nov 253,089-15270
03 Aug 253,087-35270
03 May 253,049-85190
26 Jan 253,012-145120
26 Oct 243,025-45120
28 Jul 243,03865120
28 Apr 243,095325140
28 Jan 243,153585170
28 Oct 233,195545260
30 Jul 233,237505360
29 Apr 233,259595460
29 Jan 233,281695560
29 Oct 223,288795660
31 Jul 223,294895750
30 Apr 223,315945870
30 Jan 223,336995990
30 Oct 213,3751045900
31 Jul 213,4151095820
30 Apr 213,356895710
31 Jan 213,298695600
31 Oct 203,235575600
02 Aug 203,173445590
26 Jan 203,114605330
26 Oct 193,093645270
28 Jul 193,071675210
27 Jan 193,037296130
27 Oct 183,016286490
29 Jul 182,995276840
29 Apr 182,981466740
28 Jan 182,967646630
28 Oct 172,974686560
30 Jul 172,981716480
29 Jan 172,968686310
29 Oct 162,946766270
31 Jul 162,925846240
30 Apr 162,921726280
31 Jan 162,897666230
31 Oct 152,837596100
02 Aug 152,776525970

Quality Earnings: WHS has a large one-off loss of NZ$5.0M impacting its last 12 months of financial results to 1st February, 2026.

Growing Profit Margin: WHS became profitable in the past.


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: WHS's earnings have declined by 48.3% per year over the past 5 years.

Accelerating Growth: WHS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: WHS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Multiline Retail industry (13.3%).


Return on Equity

High ROE: WHS's Return on Equity (0.5%) is considered low.


Return on Assets


Return on Capital Employed


Discover strong past performing companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/26 15:36
End of Day Share Price 2026/06/26 00:00
Earnings2026/02/01
Annual Earnings2025/08/03

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Warehouse Group Limited is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael GoltsmanCitigroup Inc
Christopher ByrneDeutsche Bank
Paul KorauaForsyth Barr Group Ltd.