Market cap
$234.1m
End-of-day close multiplied by current shares on issue.
WHS · NZX
The Warehouse Group (WHS)
Consumer / Retail generalCovered: FY24 - FY252 published briefings
The Warehouse Group is an NZX-listed consumer / retail general company. Its latest covered result is FY25, with FY24 - FY25 of source-backed result history on Annolyse.
Sections
Latest result
Latest metrics
FY25, released 21 March 2025
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| Metric | Value | Change |
|---|---|---|
| Revenue | $1.6b | ↓ -47.1% |
| Operating profit | $38.9m | ↓ -34.1% |
| NPAT | $11.8m | ↑ +121.8% |
| Operating cash flow | $122.9m | ↓ -33.9% |
| OCF / Operating profit % | 316.3% | ↑ +0.9pp |
| Net debt | -$19m | ↓ -137.4% |
| Net debt / Operating profit | n/m | — |
| ROE % | 3.7% | ↑ +18.9pp |
| PBT | $16.9m | ↓ -18.0% |
| FCF pre-lease | $117.8m | — |
Source: latest published briefing (FY25, released 21 March 2025). Change compares against the prior equivalent period: FY24, released 26 September 2024.
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, 4 September 2026
Price and market cap
The latest close and share count context for the market price.
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Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
19.84x
Recent market cap compared with trailing earnings.
EPS
0.03
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
5.54x
Enterprise value compared with recent EBITDA.
P/FCF
1.99x
Market cap compared with recent free cash flow.
P/B
0.73x
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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Chat
Ask about WHS
Ask follow-up questions about The Warehouse Group's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about WHS
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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| Metric | FY2512 MONTHS21 March 2025 | FY2412 MONTHS26 September 2024 | Trend |
|---|---|---|---|
| Revenue | $1.6b | $3b | Chart |
| Revenue growth % | -47.1% | -10.6% | Chart |
| Operating profit | $38.9m | $58.9m | Chart |
| Operating profit margin % | 2.4% | 1.9% | Chart |
| PBT | $16.9m | $20.6m | Chart |
| PBT growth % | -18.0% | -52.8% | Chart |
| NPAT | $11.8m | -$54.2m | Chart |
| Operating cash flow | $122.9m | $185.9m | Chart |
| OCF / Operating profit % | 316.3% | 315.4% | Chart |
| FCF pre-lease | $117.8m | — | — |
| DPS | — | 5.0c | — |
| ROE % | 3.7% | -15.2% | Chart |
| Net debt | -$19m | $50.7m | Chart |
| Net debt / Operating profit | n/m | 0.86x | Chart |
| Debtor days | 9 | 4 | Chart |
| Inventory days | 121 | 57 | Chart |
| Total assets | $1.7b | $1.7b | Chart |
Reference: annolyse.ai/companies/whs
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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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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ROE
Return on equity.
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Net debt
Borrowings less cash; negative values indicate net cash.
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DPS
Dividend per share declared for the period.
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Debtor days
Receivables days where the working-capital inputs are source-backed.
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Inventory days
Inventory days where the working-capital inputs are source-backed.
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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
FY24 → FY25 Follow-through
The latest result is checked against what the prior briefing said to watch.
Historical setup
What FY24 said to watch
Previous analysisFY24Result releasedAnnolyse analysis published
From Continuing PBT halved as all three retail segments compressed
No forward targets were supplied with this release, so the result is judged against the half-year shape. H1 contributed 53.8% of full-year revenue and 43.7% of the full-year NPAT loss, implying an H2 revenue run-rate of $1.4b and an H2 loss of around $30.5m. Management commentary that H2 sales fell 7.6% versus H1's 4.9% decline points to a worsening sales trajectory into year-end, which matters because segment earnings are now highly geared to any further volume fall.
Open questions
Open questions from FY24
- What concrete actions are planned to rebuild The Warehouse segment result from $17.7m, given the -75% fall is not explained by the disposed operations?
- Why was capex cut by 65.9%, and at what level does the board view capex as adequate to maintain the store network and digital platforms?
- When does the board expect to resume a final dividend, and what coverage threshold needs to be met?
- Why did the effective tax rate rise to 68.2%, and is that a one-year distortion or a recurring drag on continuing-ops NPAT?
- How is H2's 7.6% sales decline tracking into early FY25, and what assumptions underpin internal forecasts?
This briefing cannot assess management's internal turnaround plan, the underlying drivers of the Torpedo7 exit loss, or the trajectory of trading post-balance-date.
Latest result sources
Primary issuer documents used for the FY25 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.
Current period
WHS HY25 Interim Financial Statements
FY25 / financial reportWHS HY25 Investor Presentation
FY25 / results presentationWHS HY25 Media Release
FY25 / media releaseWHS HY25 Results Announcement
FY25 / results announcementPrior comparable period
1. WHS FY24 Media Release
FY24 / media release3. WHS FY24 Annual Report
FY24 / financial report4. WHS FY24 Results Announcement
FY24 / results announcementInterim context
WHS HY 24 Interim Financial Statements
HY25 / financial reportWHS HY24 Interim Results Media Release
HY25 / media releaseWHS HY24 Results Announcement
HY25 / results announcementRelease context
The Warehouse Group - FY25 Q1 Trading Update
FY25 / commentaryThe Warehouse Group provides trading update
FY25 / commentaryPeer context
Retail general comparison set
These companies share the same curated sub-sector label. Their reporting definitions can still differ, so compare the underlying measures before ranking them.
Archive
Briefing archive
The full chronological archive contains every published result briefing.
FY25 · Released 21 March 2025
Operating profit halved to $19.5m as gross margin slid 110bps
Reported NPAT swung positive on a smaller discontinued-ops loss, but underlying retail earnings deteriorated as inventories swelled $61.2m.
Read briefing
FY24 · Released 26 September 2024
Continuing PBT halved as all three retail segments compressed
A $60.3m Torpedo7 exit pushed group NPAT to a $54.2m loss, while capex cut to a third propped up free cash flow.
Read briefing
Get notified when WHS publishes
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