ASX:ADH

Adairs Ltd.

AustraliaConsumerRetail TradeASX

1.47

AUD · Close 4 Nov 2026

Intrinsic value vs last close

Model estimate

Comparison requires review

+453.7%Intrinsic value vs last close

Last close (AUD): 1.47
Intrinsic value (AUD): 8.14

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

Why it needs review

The cash-flow figures needed for a comparison are missing.

This estimate remains visible for checking its calculation. Its inputs require review before using it in a stock comparison. The model comparison behind this value needs review. The estimate does not remove the data limitations listed above.

Comparison assessed 5 Nov 2026Valid through 4 Dec 2026

Model reliability: Medium; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 5 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 5 Nov 2026Anchored to close on 4 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Retail Trade→Consumer

Classified as consumer from the industry its market data reports: “Retail Trade”.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Risk-Free (Rf)

5.21%

Betasector default

1.061

ERP

4.20%

CRP

0.00%

Cost of Equity (Ke)

9.66%

E/(D+E)

37.15%

Kd(1-t)

6.44%

D/(D+E)

62.85%

WACC

8.00%

Growth Estimate

historical blend4.00%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→66.27M

Projection years→10

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (AUD)→1.47

Intrinsic value vs last close→+453.7%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (AUD)

8.14

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)8.00%

Growth rate4.00%growth method: historical blend

Base cash flow66.3Mone off strip ratio: 0

DCF Sensitivity

Values from the standalone DCF scenarios below. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	1.0%	2.5%	4.0%	5.5%	7.0%
6.0%	17.30	17.58	17.86	18.40	19.51
7.0%	11.01	11.20	11.38	11.74	12.47
8.0%	7.86	8.00	8.14	8.41	8.95
9.0%	5.98	6.09	6.20	6.41	6.84
10.0%	4.72	4.81	4.91	5.08	5.43

Above market priceBelow market priceCurrent estimate

ASX:ADH among Consumer

Every valued stock in the sector on this market, ASX:ADH marked: model value vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is ASX:ADH. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Cash and cash equivalentsNet debt bridge	11	·	·	·	·	·	·	·	·	·	·	·	·	·	·
TOTAL ASSETS	575	656	613	596	627	415	389	203	195	193	184	157	187	170	168
Short-term borrowingsDiscount rate (WACC) +1	52	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-term borrowingsDiscount rate (WACC) +1	238	312	276	280	307	107	140	25	25	42	42	42	118	105	109
OWNER'S EQUITYDiscount rate (WACC)	171	·	·	·	·	·	·	·	·	·	·	·	·	·	·

Earnings Quality

Fiscal year 2026

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

Quantitative Scores

F-Score

5/9

Neutral

Sharpe

−0.79

Negative

Composite

70 and above

Piotroski F-Score Breakdown

✗Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✓Turnover Up

Price Risk

Momentum

−35.9%

Volatility

38.9%

Max Drawdown

−39.8%

Key Ratios

Fiscal year 2026

—P/E

P/B: 1.53
P/S: 0.41
ROE: −19.9%
EPS: −0.22
BVPS: 0.96
D/E: 1.69
EV/EBITDA: 4.59
Div Yield: —

Company Overview

Shares outstanding: 177M
Industry: Retail Trade

Computed 05/11/2026

Intrinsic value vs last close

Earnings-capitalised value

Why it needs review

Valuation Breakdown

DCF Sensitivity

ASX:ADH among Consumer

Financial Statements

Earnings Quality

Quantitative Scores

Key Ratios

Company Overview

ASX:ADH among Consumer