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Harvey Norman Holdings Ltd
(Sydney:HVN)
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Rating:60Neutral
Price Target:
AU$4.50
▼(-2.17% Downside)
Action:Reiterated
Date:08/29/26
The score reflects solid but cooling fundamentals (good profitability and moderate leverage, but weaker/volatile revenue and softer cash conversion) as the primary driver. Technicals are notably bearish with the stock trading below major moving averages and negative MACD, which drags the score. Offsetting this, the valuation is attractive with a low P/E and high dividend yield.
Positive Factors
Healthy Profitability
Solid low-teens profitability gives HVN a durable earnings base and supports reinvestment, dividends and resilience in a competitive retail market, even though margins have moderated from their 2021–2022 peak.
Negative Factors
Weakening Revenue Growth
Choppy and recently negative revenue growth signals weaker demand across discretionary categories such as electronics, furniture and appliances. Sustained top-line pressure could reduce store productivity and limit operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy Profitability
Solid low-teens profitability gives HVN a durable earnings base and supports reinvestment, dividends and resilience in a competitive retail market, even though margins have moderated from their 2021–2022 peak.
Read all positive factors
Harvey Norman Holdings Ltd (HVN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.38B
Dividend Yield6.69%
Average Volume (3M)2.41M
Price to Earnings (P/E)9.7
Beta (1Y)0.76
Revenue Growth4.65%
EPS Growth2.02%
CountryAU
Employees6,649
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.43
Shares Outstanding1,246,006,700
10 Day Avg. Volume3,084,452
30 Day Avg. Volume2,408,750
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.23
Price to Sales (P/S)1.39
P/FCF Ratio15.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.54Price Target Upside-1.40% Downside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.34
Revenue Forecast (FY)AU$4.51B
Harvey Norman Holdings Ltd Business Overview & Revenue Model
Company Description
Harvey Norman Holdings Limited engages in the integrated retail, franchise, property, and digital system businesses. The company franchises and sells products in various categories, including electrical goods, furniture, computerized communication...
How the Company Makes Money
HVN makes money primarily through (1) retail and franchise-related earnings from selling branded consumer goods and homewares, and (2) income connected to its property interests.
1) Retail and franchise-related earnings
- Product sales: A core so...
Harvey Norman Holdings Ltd Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
74
Positive
Cash Flow
62
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.31B | 4.12B | 3.92B | 3.98B | 4.14B |
| Gross Profit | 2.02B | 2.10B | 1.99B | 1.94B | 2.12B |
| EBITDA | 963.00M | 1.06B | 837.26M | 1.08B | 1.39B |
| Net Income | 528.46M | 518.02M | 352.45M | 539.52M | 811.53M |
Balance Sheet | |||||
| Total Assets | 8.85B | 8.37B | 7.93B | 7.67B | 7.25B |
| Cash, Cash Equivalents and Short-Term Investments | 298.61M | 279.69M | 273.47M | 218.75M | 248.80M |
| Total Debt | 2.59B | 2.29B | 2.28B | 2.18B | 1.90B |
| Total Liabilities | 3.91B | 3.53B | 3.39B | 3.21B | 2.95B |
| Stockholders Equity | 4.90B | 4.80B | 4.50B | 4.43B | 4.26B |
Cash Flow | |||||
| Free Cash Flow | 386.72M | 510.74M | 494.37M | 492.60M | 502.38M |
| Operating Cash Flow | 537.22M | 694.30M | 686.53M | 680.26M | 597.30M |
| Investing Cash Flow | -302.27M | -222.54M | -301.18M | -333.48M | -178.79M |
| Financing Cash Flow | -215.66M | -445.62M | -334.25M | -379.07M | -432.87M |
Harvey Norman Holdings Ltd Technical Analysis
Negative
4.60
Price Trends
4.69
Negative
4.63
Negative
5.32
Negative
Market Momentum
-0.14
Positive
35.88
Neutral
32.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HVN, the sentiment is Negative. The current price of 4.6 is above the 20-day moving average (MA) of 4.50, below the 50-day MA of 4.69, and below the 200-day MA of 5.32, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 35.88 is Neutral, neither overbought nor oversold. The STOCH value of 32.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HVN.
Harvey Norman Holdings Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$7.22B | 14.69 | 29.54% | 5.11% | 4.82% | 5.95% | |
66 Neutral | AU$1.25B | 15.93 | 27.14% | 5.49% | 4.33% | 31.22% | |
63 Neutral | AU$319.09M | 27.79 | 23.74% | 5.00% | 4.64% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | AU$5.38B | 9.72 | 10.78% | 6.55% | 4.65% | 2.02% | |
55 Neutral | AU$233.09M | -5.82 | -19.53% | 8.95% | 3.83% | -251.57% | |
51 Neutral | AU$553.60M | 131.09 | 3.54% | ― | 10.63% | -62.61% |
* Consumer Cyclical Sector Average
AU:HVN
Harvey Norman Holdings Ltd
4.21
-2.73
-39.35%
AU:KGN
Kogan.com
3.28
-0.42
-11.45%
AU:TPW
Temple & Webster Group Ltd
4.69
-18.40
-79.69%
AU:NCK
Nick Scali Limited
14.26
-9.37
-39.65%
AU:ADH
Adairs Ltd.
1.28
-1.13
-46.87%
AU:JBH
JB Hi-Fi Limited
65.95
-45.49
-40.82%
Harvey Norman Holdings Ltd Corporate Events
Harvey Norman Files Corporate Governance Statement and Appendix 4G with ASX
Aug 27, 2026
Harvey Norman Holdings Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX, confirming it is available on the company’s website. The statement, approved by the board as at 28 August 2026, outlin...
Harvey Norman Highlights FY26 Results and Expands U.K. Footprint
Aug 27, 2026
Harvey Norman reported its financial year 2026 results, highlighting performance across franchising operations, overseas company‑operated retail, and its property segments. The disclosure emphasises aggregated system sales, Australian franch...
Harvey Norman lifts profit and expands offshore as strong balance sheet underpins growth
Aug 27, 2026
Harvey Norman reported a 4.9% rise in reported profit before tax to $790.29 million for the year to 30 June 2026, with underlying profit before tax up 10.9% to $654.69 million as system sales grew 3.1% to $9.64 billion. The retailer highlighted so...
Harvey Norman Sets 2026 Dividend and AGM Timetable in Annual Report
Aug 27, 2026
Harvey Norman Holdings Ltd is a diversified retail and franchising group listed on the ASX, operating across Australia, New Zealand, Singapore, Slovenia, Ireland, the United Kingdom, Malaysia and Croatia. It focuses on the sale of household goods ...
Harvey Norman Responds to Federal Court Ruling with Compliance Pledge
Jul 28, 2026
Harvey Norman Holdings Ltd has acknowledged a decision by the Federal Court of Australia in a case brought by the corporate regulator ASIC involving both the company and Latitude Financial Services. The company stated that it did not intend to eng...
Harvey Norman Fined $35 Million in ASIC Court Action
Jul 28, 2026
Harvey Norman Holdings Limited has been ordered by the Federal Court of Australia to pay a $35 million pecuniary penalty in a proceeding brought by the Australian Securities and Investments Commission, with Latitude Financial Services also fined $...
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.