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Michael Hill International Ltd.
(Sydney:MHJ)
Select Model
Select Model
Rating:66Neutral
Price Target:
AU$0.41
▲(6.58% Upside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by improving financial health—especially stronger operating/free cash flow and better leverage—balanced against ongoing profitability volatility and an unusual gross margin swing that raises questions about earnings stability. Technically, the stock shows a positive trend and supportive momentum (above key moving averages, positive MACD), while valuation is moderate (P/E ~16.3) with no dividend yield data to add support.
Positive Factors
Revenue re-acceleration
The return to revenue growth indicates renewed customer demand across Michael Hill’s jewelry retail channels. If sustained, higher sales can improve store productivity, support operating leverage, and provide a stronger base for rebuilding profitability over the next several reporting periods.
Negative Factors
Low net profitability
The sharply lower net margin shows that revenue is currently converting into limited bottom-line earnings. Persistently thin profitability leaves less room to absorb cost increases or weaker sales and makes shareholder returns more vulnerable to changes in pricing, product mix, and operating expenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue re-acceleration
The return to revenue growth indicates renewed customer demand across Michael Hill’s jewelry retail channels. If sustained, higher sales can improve store productivity, support operating leverage, and provide a stronger base for rebuilding profitability over the next several reporting periods.
Read all positive factors
Michael Hill International Ltd. (MHJ) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$134.69M
Dividend Yield5.63%
Average Volume (3M)137.46K
Price to Earnings (P/E)15.5
Beta (1Y)0.27
Revenue Growth1.87%
EPS Growth372.73%
CountryAU
Employees2,500
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.03
Shares Outstanding384,842,600
10 Day Avg. Volume91,698
30 Day Avg. Volume137,456
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.72
Price to Sales (P/S)0.19
P/FCF Ratio1.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.70Price Target Upside84.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)AU$672.02M
Michael Hill International Ltd. Business Overview & Revenue Model
Company Description
Michael Hill International Limited functions as a dedicated jewelry retailer, overseeing and managing its network of physical stores while also providing a range of complementary customer services. Its retail establishments showcase a broad select...
How the Company Makes Money
MHJ primarily makes money by retailing jewelry to consumers. Its main revenue stream is sales of jewelry products through company-operated stores and e-commerce, earning gross margin on the spread between product costs (materials, manufacturing an...
Michael Hill International Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 798.46M | 692.44M | 703.36M | 684.48M | 657.25M |
| Gross Profit | 182.40M | 418.70M | 425.81M | 439.49M | 423.98M |
| EBITDA | 143.71M | 79.11M | 78.58M | 118.20M | 131.41M |
| Net Income | 12.17M | 2.26M | -523.00K | 38.29M | 51.79M |
Balance Sheet | |||||
| Total Assets | 590.89M | 558.19M | 595.76M | 594.72M | 566.78M |
| Cash, Cash Equivalents and Short-Term Investments | 17.61M | 11.03M | 22.04M | 22.71M | 106.27M |
| Total Debt | 178.36M | 208.34M | 233.26M | 186.19M | 143.66M |
| Total Liabilities | 380.08M | 374.48M | 413.42M | 389.46M | 350.46M |
| Stockholders Equity | 210.81M | 183.72M | 182.34M | 205.26M | 216.32M |
Cash Flow | |||||
| Free Cash Flow | 105.06M | 48.39M | 18.26M | 49.85M | 98.79M |
| Operating Cash Flow | 120.71M | 59.30M | 41.36M | 87.14M | 123.71M |
| Investing Cash Flow | -17.27M | -10.91M | -30.49M | -89.59M | -24.88M |
| Financing Cash Flow | -97.50M | -59.08M | -11.51M | -80.01M | -72.85M |
Michael Hill International Ltd. Technical Analysis
Positive
0.38
Price Trends
0.33
Positive
0.33
Positive
0.35
Positive
Market Momentum
<0.01
Negative
62.15
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MHJ, the sentiment is Positive. The current price of 0.38 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.33, and above the 200-day MA of 0.35, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 62.15 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MHJ.
Michael Hill International Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$2.61B | 25.80 | 102.78% | 3.85% | 17.62% | 10.44% | |
68 Neutral | AU$598.42M | 31.69 | 12.41% | 5.67% | 12.87% | -21.74% | |
66 Neutral | AU$134.69M | 15.51 | 5.05% | 5.63% | 1.87% | 372.73% | |
64 Neutral | AU$1.87B | 12.18 | 31.92% | 8.21% | -30.67% | -24.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | AU$81.97M | -9.07 | -28.03% | ― | -3.20% | -227.54% | |
45 Neutral | AU$336.91M | -1.05 | -22.14% | 7.69% | 30.31% | -737.99% |
* Consumer Cyclical Sector Average
AU:MHJ
Michael Hill International Ltd.
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Michael Hill International Ltd. Corporate Events
Michael Hill Sets Date and Virtual Format for 2026 AGM
Sep 3, 2026
Michael Hill International Ltd. has scheduled its 2026 Annual General Meeting for 22 October, to be held virtually at 10:00am Brisbane time, and set 10 September as the closing date for director nomination submissions. The move to a fully virtual ...
Michael Hill appoints new director with no initial shareholding
Aug 28, 2026
Michael Hill International Limited has appointed Karen Louise Bozic as a director effective 29 August 2026, and lodged an initial director’s interest notice with the ASX in line with listing rule 3.19A.1. The filing confirms that Bozic curre...
Michael Hill Appoints New Director With No Initial Equity Interest
Aug 28, 2026
Michael Hill International has appointed Mark Richard Bayliss as a director effective 29 August 2026, according to an initial director’s interest notice lodged with the ASX. The filing confirms that Bayliss holds no relevant interests in the...
Michael Hill Names Claudia Batten as New Chair Amid Planned Board Transition
Aug 28, 2026
Michael Hill International has announced that long-serving Chair Rob Fyfe will retire as director and chair on 28 November 2026, after more than a decade on the company’s boards and three years as chair. His tenure included steering the grou...
Michael Hill Declares Interim Dividend of AUD 0.02 Per Share
Aug 28, 2026
Michael Hill International has declared a dividend of AUD 0.02 per ordinary fully paid share, relating to the six-month period ended 28 June 2026. The shares will trade ex-dividend on 7 September, with a record date of 8 September and payment sche...
Michael Hill’s turnaround delivers record revenue, profit surge and dividend return
Aug 28, 2026
Michael Hill International has reported a significant turnaround for the year to 28 June 2026, posting record group revenue of $655.7 million and a 57% rise in comparable EBIT to $24 million. Statutory net profit surged to $10 million, same-store ...
Michael Hill says turnaround delivers record FY26 group revenue
Aug 28, 2026
Michael Hill International says its turnaround strategy has delivered record group revenue in FY26, underlining the progress of its operational reset. The company highlighted improved financial and operational performance as it works through ongoi...
Michael Hill profit surges as revenue edges higher and dividend returns
Aug 28, 2026
Michael Hill International reported revenue from contracts with customers rising 1.9% to $655.7 million for the 52 weeks ended 28 June 2026, with comparable EBIT up 56.7% to $24.0 million and net profit after tax attributable to members surging 37...
Michael Hill lifts FY26 earnings outlook as same store sales strengthen
Jul 30, 2026
Michael Hill International reported preliminary unaudited FY26 group sales of $654.7 million, a 2 percent increase on the prior year, or 3.9 percent on a constant currency basis. Same store sales rose 3 percent, with Australia including Bevilles u...
Michael Hill Strengthens Governance With New Company Secretary Appointment
Jul 2, 2026
Michael Hill International Limited has appointed recently hired General Counsel Cathy Hoyle as Company Secretary, effective 2 July 2026, expanding her remit to include responsibility for ASX communications under Listing Rule 12.6. Hoyle brings ext...
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.