New Street Research - Temple Webster Group (TPW) TPW 1HFY24 Results: Positive Momentum Continues in 2HFY24

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New Street Research

Jin Yoon

TPW 1HFY24 Results: Positive Momentum Continues in 2HFY24

What's new: TPW reported 1HFY24 top-line results were slightly below consensus and our estimates, but margins top expectations partly driven by better distribution margins. Revenues continue to show positive momentum in 2HFY24 partly driven by both repeat and first-time customer growth. We up our PT from A$7 to A$13 and upgrade the stock from NEUTRAL to BUY on improving outlook. Our updated PT of A$13 implies a 2.4x FY25 EV/Revs.

Analysts:
Jin Yoon

13/02/2024 1 EN

Underlying

Temple & Webster Group

Temple & Webster sells furniture, homeware, and other lifestyle products through its online, member based website.

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AU000000TPW5 Australian Securities Exchange Australia

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New Street Research

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Analysts

Jin Yoon

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TPW 2HFY25: Improving Business Outlook

What’s new: Temple & Webster provided an update where growth has accelerated over the half. TPW also expects FY25 EBITDA margin to be towards the top end of the guidance range. We up our PT from AUD18 to AUD21 on improving business outlook. Our updated PT of USD21 implies 3.2x on FY26E EV/Revs. We maintain our BUY rating. Analysts: Jin Yoon

May 7, 2025 May 7, 2025 1 EN

SmartInsider

Temple & Webster Group Ltd: 1 director

A director at Temple & Webster Group Ltd sold 500,000 shares at 16.400AUD and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The n...

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February 20, 2025 February 20, 2025 1 EN

New Street Research

TPW 1HFY25 Results: Continued Market Share Gains

What’s new: TPW reported 1HFY25 results that were above consensus and our expectations. Rev growth could further improve as comps get easier towards the latter part of 2HFY25, and the company has the margin flexibility to further invest to drive top-line growth. We up our PT from A$13 to A$18 on continued market share gains. Our updated PT of A$18 implies 2.7x FY26E EV/Revs. Analysts: Jin Yoon

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TPW 1HFY24 Results: Positive Momentum Continues in 2HFY24

TPW 2HFY25: Improving Business Outlook

Temple & Webster Group Ltd: 1 director

TPW 1HFY25 Results: Continued Market Share Gains

SATS quick thoughts following the 1Q25 call

SATS 1Q25 Quick Take: Wireless making progress (but not enough)

Cellnex (Reduce, €28.5, -15%) Q1 25: Revenue volatility raises new questions

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