Market cap
$48.4m
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. Its latest covered result is FY26, with HY22 - FY26 of source-backed result history on Annolyse.
Sections
Latest result
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
Trailing P/E, EV/EBITDA, price-to-book and price-to-free-cash-flow ratios combine the latest available close with filing data. They are comparative measures, not forecasts or recommendations.
Prices as at close, 18 September 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
0.74x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
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 values for each observation. Expand the chart to see more detail.
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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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.
Financial history
Performance over time
The latest period is shown first.
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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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- FY22 BRW FY: Outside range low revenue growth. -14.4%; 3-period range -10.5% to 10.7%. Revenue growth: -14.4%, below normal range; 3-period mean -1.0%, range -10.5%-10.7%.
- FY25 BRW FY: Outside range high revenue growth. 10.7%; 3-period range -14.4% to -3.2%. Revenue growth: 10.7%, above normal range; 3-period mean -9.4%, range -14.4%--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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More financial metrics
Additional filing-backed metrics for this company. Each point links to the relevant published briefing.
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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- FY23 BRW FY: Outside range low roe. -2%; 3-period range 5.9% to 25.2%. ROE: -2.0%, below normal range; 3-period mean 13.2%, range 5.9%-25.2%.
- FY25 BRW FY: Outside range high roe. 25.2%; 3-period range -2% to 8.5%. ROE: 25.2%, above normal range; 3-period mean 4.2%, range -2.0%-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; 3-period range 48d to 82d. Debtor days: 46.7 days, below normal range; 3-period mean 59.4 days, range 47.9 days-81.9 days.
- FY23 BRW FY: Outside range high debtor days. 82d; 3-period range 47d to 48d. Debtor days: 81.9 days, above normal range; 3-period mean 47.7 days, range 46.7 days-48.5 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; 3-period range 116d to 225d. Inventory days: 104.2 days, below normal range; 3-period mean 157.8 days, range 115.5 days-224.6 days.
- FY23 BRW FY: Outside range high inventory days. 225d; 3-period range 104d to 133d. Inventory days: 224.6 days, above normal range; 3-period mean 117.7 days, range 104.2 days-133.4 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.
Latest result sources
Primary issuer documents used for the FY26 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.
Current period
1H26 Financial Results Announcement
FY26 / results announcement1H26 Report
FY26 / financial reportPrior comparable period
FY25 Preliminary Unaudited Financial Information
FY25 / financial reportFY25 Unaudited Financial Results Announcement Template
FY25 / results announcementFY25 Unaudited Financial Results Announcement Template
FY25 / results releaseInterim context
1H25 Report
HY26 / financial report1H25FinancialResultsAnnouncement
HY26 / results announcement1H25FinancialResultsAnnouncement
HY26 / results releaseRelease context
BRW 2025 Annual Meeting Results
FY26 / commentaryPeer context
Other covered Consumer companies
These companies share a broad sector but may not be direct peers. Compare them only where the underlying measures are genuinely comparable.
Archive
Briefing archive
The full chronological archive contains every published result briefing.
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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