TPW 2HFY25 Results: Business Remains Resilient
What’s new: TPW reported 2HFY25 results that were below consensus and our expectations. New financial year has started strong with rev growth accelerating to 28% YoY in the first few weeks. TPW also increased its EBITDA margin guide range to 3% to 5% for FY26. We up our PT from A$21 to A$32 on continued market share gains. Our updated PT of A$32 implies 4.2x FY27E EV/Revs.Analysts:
Jin Yoon
Temple & Webster sells furniture, homeware, and other lifestyle products through its online, member based website.
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