Market cap
$48m
End-of-day close multiplied by current shares on issue.
BRW · NZX
Bremworth (BRW)
Consumer / Home furnishingsCovered: HY22 - FY268 published briefings
Bremworth is an NZX-listed consumer / home furnishings company with HY22 - FY26 of published result briefings.
Sections
Snapshot
Latest metrics
FY26, released 25 February 2026
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| Metric | Value | Change |
|---|---|---|
| Revenue | $44.7m | ↓ -49.7% |
| NPAT | -$6.4m | ↓ -135.2% |
| Operating cash flow | -$1.9m | ↓ -112.1% |
| ROE % | -9.8%Outside range low roe. -9.8%; 4-period range -2% to 25.2%. ROE: -9.8%, below normal range; 4-period mean 9.4%, range -2.0%-25.2%. | ↓ -35.0pp |
| PBT | -$6.3m | ↓ -133.9% |
| FCF pre-lease | -$7.3m | ↓ -171.3% |
| Debtor days | 90Unprecedented high debtor days. 90d; 4-period range 47d to 82d. Debtor days: 90.2 days, unprecedented high; 4-period mean 56.2 days, range 46.7 days-81.9 days. | ↑ +88.3% |
| Inventory days | 211 | ↑ +82.4% |
| Total assets | $101.1m | ↓ -6.1% |
Source: latest published briefing (FY26, released 25 February 2026). Change compares against the prior equivalent period: FY25, released 1 September 2025.
Valuation
Valuation
A compact read on what the market price implies next to the latest filing data. The numbers are a starting point for comparison, not a recommendation.
Prices as at close, 31 July 2026
Price and market cap
The latest close and share count context for the market price.
i
Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.09
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not available for this company right now.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
0.73x
Market value compared with latest reported equity.
Income and fund shape
Yield and fund-style valuation where the company shape supports it.
Dividend yield
0.0%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Price history
Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.
Share price
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
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P/E over time
Filing-period markers only: EOD close on or before each release date divided by filing-derived trailing NPAT where both inputs verify.
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Chat
Ask about BRW
Ask follow-up questions about Bremworth's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about BRW
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Longitudinal view
Performance over time
The latest period is shown first.
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| Metric | FY2612 MONTHS25 February 2026 | FY2512 MONTHS1 September 2025 | HY256 MONTHS28 February 2025 | FY2412 MONTHS29 August 2024 | HY246 MONTHS29 February 2024 | FY2312 MONTHS1 March 2023 | FY2212 MONTHS30 September 2022 | HY226 MONTHS25 February 2022 | Trend |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.7m | $88.9m | $42.1m | $80.3m | $39m | $47.2m | $95.5m | $48.7m | Chart |
| Revenue growth % | -49.7%Unprecedented low revenue growth. -49.7%; 4-period range -14.4% to 10.7%. Revenue growth: -49.7%, unprecedented low; 4-period mean -4.3%, range -14.4%-10.7%. | 10.7%Outside range high revenue growth. 10.7%; 4-period range -49.7% to -3.2%. Revenue growth: 10.7%, above normal range; 4-period mean -19.4%, range -49.7%--3.2%. | 8.0% | -10.5% | -20.0% | -3.2% | -14.4% | -19.2% | Chart
|
| EBITDA | — | $18.4m | -$8.1m | $4.4m | -$2m | — | $3.5m | $2.5m | Chart |
| EBITDA margin % | — | 20.7% | -19.2% | 5.5% | -5.0% | — | 3.6% | 5.1% | Chart |
| PBT | -$6.3m | $18.6m | -$8.1m | $4.9m | -$1.6m | -$0.6m | $2.6m | $1.3m | Chart |
| PBT growth % | — | 279.6%Unprecedented high pbt growth. 279.6%; 4-period range -149.7% to 30%. PBT growth: 279.6%, unprecedented high; 4-period mean -77.6%, range -149.7%-30.0%. | — | -56.6% | — | — | 30.0% | -70.5% | Chart
|
| NPAT | -$6.4m | $18.2m | -$8.1m | $4.6m | -$1.7m | -$0.8m | $2.2m | $1m | Chart |
| NPAT growth % | — | 295.7%Unprecedented high npat growth. 295.7%; 4-period range -177.7% to 29.4%. NPAT growth: 295.7%, unprecedented high; 4-period mean -85.4%, range -177.7%-29.4%. | — | -58.2% | — | — | 29.4% | -76.7% | Chart
|
| Operating cash flow | -$1.9m | $15.7m | -$21.8m | -$27.3m | -$15.8m | -$1.8m | -$2.9m | -$1.4m | Chart |
| OCF / EBITDA % | — | 85.5% | 269.4% | -616.6% | 806.6% | — | -83.9% | -55.2% | Chart |
| FCF pre-lease | -$7.3m | $10.2m | -$25m | -$31.3m | -$17.8m | -$3.5m | -$5.8m | -$3m | Chart |
| FCF post-lease | — | — | — | — | — | — | -$5.8m | — | — |
| ROE % | -9.8%Outside range low roe. -9.8%; 4-period range -2% to 25.2%. ROE: -9.8%, below normal range; 4-period mean 9.4%, range -2.0%-25.2%. | 25.2%Unprecedented high roe. 25.2%; 4-period range -9.8% to 8.5%. ROE: 25.2%, unprecedented high; 4-period mean 0.7%, range -9.8%-8.5%. | -17.6% | 8.5% | -3.4% | -2.0% | 5.9% | 2.7% | Chart
|
| Debtor days | 90Unprecedented high debtor days. 90d; 4-period range 47d to 82d. Debtor days: 90.2 days, unprecedented high; 4-period mean 56.2 days, range 46.7 days-81.9 days. | 48 | 50 | 48 | 51 | 82 | 47Outside range low debtor days. 47d; 4-period range 48d to 90d. Debtor days: 46.7 days, below normal range; 4-period mean 67.1 days, range 47.9 days-90.2 days. | 46 | Chart
|
| Inventory days | 211 | 116 | 154 | 133 | 99 | 225Unprecedented high inventory days. 225d; 4-period range 104d to 211d. Inventory days: 224.6 days, unprecedented high; 4-period mean 141.0 days, range 104.2 days-210.7 days. | 104Outside range low inventory days. 104d; 4-period range 116d to 225d. Inventory days: 104.2 days, below normal range; 4-period mean 171.1 days, range 115.5 days-224.6 days. | 79 | Chart |
| Total assets | $101.1m | $107.6m | $80m | $94.9m | $85m | $77.3m | $78.9m | $75.9m | Chart |
Reference: annolyse.ai/companies/brw
Note: Figures are shown as reported. Half-year and full-year absolute values are not directly comparable. Growth rates and ratios are the meaningful comparison across mixed periods.
Filing-only history charts
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Revenue
Reported revenue across covered periods.
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Revenue growth
Like-period revenue growth where comparable.
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- FY25 BRW FY: Outside range high revenue growth. 10.7%; 4-period range -49.7% to -3.2%. Revenue growth: 10.7%, above normal range; 4-period mean -19.4%, range -49.7%--3.2%.
- FY26 BRW FY: Unprecedented low revenue growth. -49.7%; 4-period range -14.4% to 10.7%. Revenue growth: -49.7%, unprecedented low; 4-period mean -4.3%, range -14.4%-10.7%.
EBITDA-equivalent
Company-specific earnings measure where disclosed.
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EBITDA margin
EBITDA-equivalent margin where revenue and earnings are source-backed.
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NPAT
Statutory profit after tax.
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Operating cash flow
Cash generated from operations.
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Full chartable metric set
Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.
FCF pre-lease
Operating cash flow less capex before leases.
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FCF post-lease
Free cash flow after lease payments where available.
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ROE
Return on equity.
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- FY25 BRW FY: Unprecedented high roe. 25.2%; 4-period range -9.8% to 8.5%. ROE: 25.2%, unprecedented high; 4-period mean 0.7%, range -9.8%-8.5%.
- FY26 BRW FY: Outside range low roe. -9.8%; 4-period range -2% to 25.2%. ROE: -9.8%, below normal range; 4-period mean 9.4%, range -2.0%-25.2%.
Debtor days
Receivables days where the working-capital inputs are source-backed.
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- FY22 BRW FY: Outside range low debtor days. 47d; 4-period range 48d to 90d. Debtor days: 46.7 days, below normal range; 4-period mean 67.1 days, range 47.9 days-90.2 days.
- FY26 BRW FY: Unprecedented high debtor days. 90d; 4-period range 47d to 82d. Debtor days: 90.2 days, unprecedented high; 4-period mean 56.2 days, range 46.7 days-81.9 days.
Inventory days
Inventory days where the working-capital inputs are source-backed.
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- FY22 BRW FY: Outside range low inventory days. 104d; 4-period range 116d to 225d. Inventory days: 104.2 days, below normal range; 4-period mean 171.1 days, range 115.5 days-224.6 days.
- FY23 BRW FY: Unprecedented high inventory days. 225d; 4-period range 104d to 211d. Inventory days: 224.6 days, unprecedented high; 4-period mean 141.0 days, range 104.2 days-210.7 days.
Operating working-capital movement
Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.
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The setup & the reality
FY25 → FY26 Follow-through
The latest result is checked against what the prior briefing said to watch.
Historical setup
What FY25 said to watch
Previous analysisFY25Result releasedAnnolyse analysis published
From NPAT up 295.7% but gross margin collapsed 1,091bps to 13.4%
No FY26 targets, forward-work disclosure, or guidance accompany the release, so the result has to be judged on its own shape. The interim context is striking: HY25 NPAT was -NZ$8.1m, implying second-half NPAT of NZ$26.4m and second-half operating cash flow of NZ$37.5m on second-half revenue of NZ$46.8m. A swing of that magnitude on a 47.4%/52.6% revenue split is not consistent with a normal seasonal pattern and is more readily explained by a discrete second-half event recognised below gross profit.
The prior-year release flagged a "return to dividends by 2026", but the current release shows no declared dividend, leaving the cadence of any resumption unconfirmed.
Open questions
Open questions from FY25
- What drove the NZ$6.5m gap between FY25 gross profit of NZ$11.9m and operating profit of NZ$18.4m, and how much of it is non-recurring?
- Why did gross margin fall 1,091bps on rising revenue, and is FY25 cost of sales a new run-rate or a step-down already underway?
- Why did the effective tax rate fall to 1.8% versus a historical mean of 12.1%, and what should be assumed for FY26?
- Is the lower inventory base (115.5 days, below the historical range of 157.6–224.6) a structural supply-chain change or a working-capital release that will reverse?
- When will the previously signalled return to dividends be confirmed, and against which earnings measure will the board set the payout?
This briefing cannot assess the specific composition of the non-recurring items between gross profit and PBT because the supplied excerpts do not itemise the relevant lines.
Archive
Briefing archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
FY26 · Released 25 February 2026
Revenue halved to NZ$44.7m as Bremworth swings to a NZ$6.4m loss
A 49.7% revenue collapse pushed PBT to -NZ$6.3m and cash to NZ$17.8m, while debtor days blew out 30 days above the historical average.
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FY25 · Released 1 September 2025
NPAT up 295.7% but gross margin collapsed 1,091bps to 13.4%
PBT of NZ$18.6m exceeds gross profit of NZ$11.9m, signalling one-off items rather than core trading drove the headline result.
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HY25 · Released 28 February 2025
Cash fell 60.3% to $7.5m as inventory build absorbed $14.5m
Revenue rose 8.0% but a deliberate $14.5m woollen yarn pre-build drove a $21.8m operating cash outflow and widened the loss to $8.1m.
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FY24 · Released 29 August 2024
Operating cash outflow widened to $27.3m on $7.9m inventory build
FY24 NPAT of $4.6m sits against an insurance-boosted FY23 base, inventory days extended to 133, and cash fell $7.7m to $31.6m.
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HY24 · Released 29 February 2024
Operating cash burn widened to NZD 15.8m as revenue fell 20.0%
A 20.0% revenue decline pushed Bremworth to a NZD 1.7m loss while inventory days climbed roughly 20 days, draining cash before a capital injection.
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FY23 · Released 1 March 2023
NZ$6.3m working-capital drain and inventory build swung HY23 to loss
Inventories rose 38% to NZ$29.0m, lifting inventory days to 224.6, while PBT swung to -NZ$0.6m and cash fell 44% to NZ$10.4m.
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FY22 · Released 30 September 2022
PBT rose 30% on 14.4% lower revenue as margins expanded
Bremworth's wool-focused pivot lifted earnings despite a deliberate revenue retreat, but a NZ$7.7m working-capital build turned operating cash flow
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HY22 · Released 25 February 2022
Operating cash swung NZ$18.9m negative as revenue fell 19.2%
Reported NPAT of $1.0m masks a near $19m operating cash reversal driven by a 45.9% jump in receivables and a higher capex spend.
Read briefing
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