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Cettire Ltd.
(Sydney:CTT)
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Rating:51Neutral
Price Target:
AU$0.28
▲(0.71% Upside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by weakening financial performance (margin compression, recent losses, and inconsistent free cash flow). Technicals are mildly supportive in the short-to-medium term but remain weak versus the long-term trend. Valuation is penalized due to loss-making status (negative P/E). The latest earnings call adds some support via the profitability turnaround focus and strong cash/no-debt position, but near-term revenue softness, U.S. duty impacts, and VAT receivables/going-concern uncertainty temper confidence.
Positive Factors
Strong Balance Sheet
Zero financial debt and $61.4M of closing cash reduce refinancing risk and give Cettire capacity to absorb demand shocks, fund platform and inventory needs, and execute its profitability plan without relying on lenders.
Negative Factors
Margin Compression and Losses
The sharp decline in gross margin and shift to net losses indicate weakened unit economics rather than merely slower growth. Sustained pressure would limit reinvestment capacity and make the profitability turnaround dependent on effective cost and pricing discipline.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Zero financial debt and $61.4M of closing cash reduce refinancing risk and give Cettire capacity to absorb demand shocks, fund platform and inventory needs, and execute its profitability plan without relying on lenders.
Read all positive factors
Cettire Ltd. (CTT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$87.68M
Dividend YieldN/A
Average Volume (3M)3.01M
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue Growth-3.20%
EPS Growth-227.54%
CountryAU
Employees2
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)-0.02
Shares Outstanding381,238,220
10 Day Avg. Volume4,937,833
30 Day Avg. Volume3,006,782
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)2.65
Price to Sales (P/S)0.10
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$735.10M
Cettire Ltd. Business Overview & Revenue Model
Company Description
Cettire Limited operates a digital marketplace specializing in high-end merchandise, distributing these products to customers across Australia and globally. The platform showcases a comprehensive selection of apparel, footwear, handbags, and vario...
How the Company Makes Money
Cettire makes money primarily by selling luxury fashion products through its e-commerce platform. Revenue is generated when customers place orders on Cettire’s website and Cettire fulfils those orders by sourcing inventory from a network of third-...
Cettire Ltd. Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 09, 2027
Earnings Call Sentiment Positive
The call was broadly constructive, with strong ex-U.S. growth, materially improved EBITDA, a solid cash position with zero debt, record inventory availability, and positive FY 2027 momentum. These strengths were balanced by a 3% reported sales-revenue decline, soft luxury demand, U.S. tariff exposure, lower customer acquisition volume, delayed VAT collections, and unaudited accounts. Overall, the positive operational and profitability trends significantly outweighed the stated challenges.Positive Updates
Strong Ex-U.S. Sales Growth
Sales revenue excluding the U.S. grew 14% year-on-year to AUD 420 million, with ex-U.S. growth closer to 25% year-on-year in Q4 FY 2026. Management said growth was broad-based across Europe, the Middle East, Canada, and Australia.
Negative Updates
Reported Sales Revenue Decline
FY 2026 sales revenue was AUD 718.4 million, down 3% year-on-year, reflecting U.S. tariff changes, softer U.S. demand, and currency headwinds. On a constant-currency basis, the business was slightly up year-on-year.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Ex-U.S. Sales Growth
Sales revenue excluding the U.S. grew 14% year-on-year to AUD 420 million, with ex-U.S. growth closer to 25% year-on-year in Q4 FY 2026. Management said growth was broad-based across Europe, the Middle East, Canada, and Australia.
Read all positive updates
Company Guidance
Cettire said it commenced FY 2027 with year-to-date gross revenue growth of approximately 22%, with growth ex-U.S. having exceeded this rate over the same time period, and achieved positive adjusted EBITDA in July 2026; it expects the growth rate in constant currency to be in the order of 5-10 percentage points higher than what was reported for the first few weeks of the year, remains on track to launch with Tmall during Q1 FY 2027, and expects the bulk of the around AUD 9 million of IEEPA tariff refunds to be received during fiscal 2027, with the bulk of that amount expected during the course of the first half.Cettire Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
68
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 730.93M | 718.38M | 742.11M | 742.25M | 416.23M | 209.88M |
| Gross Profit | 80.48M | 92.52M | 119.41M | 155.00M | 95.62M | 37.36M |
| EBITDA | -2.70M | -4.82M | 1.27M | 25.15M | 28.54M | -24.47M |
| Net Income | -8.45M | -8.48M | -2.65M | 10.47M | 15.97M | -19.06M |
Balance Sheet | ||||||
| Total Assets | 161.67M | 129.15M | 124.32M | 140.32M | 100.77M | 54.35M |
| Cash, Cash Equivalents and Short-Term Investments | 61.39M | 27.88M | 37.08M | 78.96M | 46.31M | 22.67M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 128.84M | 101.51M | 88.51M | 104.25M | 67.77M | 37.16M |
| Stockholders Equity | 32.82M | 27.65M | 35.81M | 36.07M | 33.00M | 17.19M |
Cash Flow | ||||||
| Free Cash Flow | -20.84M | 0.00 | -28.19M | 48.68M | 24.38M | -23.05M |
| Operating Cash Flow | -20.84M | 15.58M | -28.19M | 62.96M | 36.45M | -14.67M |
| Investing Cash Flow | -17.31M | -16.61M | -16.63M | -14.28M | -12.07M | -8.38M |
| Financing Cash Flow | -3.36M | -3.36M | 0.00 | -10.29M | -1.35M | 0.00 |
Cettire Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$2.78B | 27.24 | 102.78% | 3.78% | 17.62% | 10.44% | |
68 Neutral | AU$617.60M | 31.63 | 12.41% | 5.90% | 12.87% | -21.74% | |
64 Neutral | AU$1.86B | 12.19 | 31.92% | 3.52% | -30.67% | -24.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | AU$429.70M | -30.87 | -2.94% | 6.45% | 4.39% | -122.63% | |
51 Neutral | AU$87.68M | -9.51 | -28.03% | ― | -3.20% | -227.54% | |
45 Neutral | AU$345.55M | -1.14 | -22.14% | 6.38% | 30.31% | -737.99% |
* Consumer Cyclical Sector Average
AU:CTT
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Cettire Ltd. Corporate Events
Cettire Slips to Deeper Loss as U.S. Trade Shocks Hit Luxury Sales
Aug 26, 2026
Cettire reported a 3% decline in annual revenue to $718.4 million and swung to a deeper statutory net loss of $8.5 million, as softer global luxury demand, U.S. trade policy changes, and the removal of the U.S. de minimis duties exemption weighed ...
Regal Partners Exits Substantial Holder Position in Cettire
Aug 24, 2026
Regal Partners Funds Management Pty Limited and its associated entities have filed a notice stating they have ceased to be a substantial holder in Cettire Ltd. Following a series of share disposals in July and August 2026, their voting interest in...
Cettire Issues New Unquoted Rights Under Employee Incentive Scheme
Aug 12, 2026
Cettire Limited has notified the ASX of the issue of 2 million performance rights and 1 million service rights as unquoted securities under its employee incentive scheme, effective 11 August 2026. The new rights, which are not intended to be quote...
Cettire Sets Date for FY26 Results and Investor Webinar
Aug 3, 2026
Cettire Limited has announced it will release its full‑year results for the period ended 30 June 2026 on 26 August 2026, underscoring its ongoing disclosure to investors as a fast‑growing online luxury retailer. The company will host a...
Cettire Revamps Executive Long-Term Incentives to Tie Rewards to Share Price Performance
Jul 28, 2026
Cettire has overhauled its executive long-term incentive framework for founder and Group CEO Dean Mintz and CFO Tim Hume, introducing largely performance-based grants aimed at better reflecting market conditions and reinforcing leadership stabilit...
Cettire Issues New Unquoted Service Rights Under Employee Incentive Plan
Jul 14, 2026
Cettire Ltd. has notified the market of the issue of 2,166,866 unquoted service rights under its employee incentive scheme, effective May 12, 2026. The new rights, which are not intended to be quoted on the ASX, underscore the company’s cont...
Cettire Adjusts Capital Structure With Cessation of Service Rights
Jul 14, 2026
Cettire Limited has notified the market of the cessation of 1,090,954 service rights securities, recorded under the ASX code CTTAAB. The securities ceased effective June 30, 2026, reflecting a change in the company’s issued capital.The annou...
Cettire to Launch TMall Global Flagship to Accelerate China Expansion
May 29, 2026
Cettire Limited has moved to deepen its expansion in mainland China by launching a flagship store on TMall Global, Alibaba Group’s cross-border e-commerce marketplace, including a presence in the platform’s Luxury Pavilion. This new st...
Cettire Halts ASX Trading Ahead of Material Partnership Announcement
May 29, 2026
Cettire Limited has requested and been granted a trading halt on its securities on the Australian Securities Exchange, effective 29 May 2026, as it prepares to release an announcement on a material partnership. Trading in CTT shares is expected to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.