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Fletcher Building Ltd FBU

Rating as of

Morningstar’s Analysis

Valuation
Currency in NZD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Maintaining Our NZD 6 FVE Following Transition in Analyst Coverage for Fletcher Building

Analyst Note

| Mitchell Hawker |

We maintain our NZD 6.00 (AUD 5.70) per-share fair value estimate for Fletcher Building, following transition to a new analyst. We also maintain our high uncertainty, no economic moat and Standard capital allocation ratings. Shares in Fletcher screen at a 16% premium to our fair value estimate.

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Company Profile

Business Description

Fletcher Building is a New Zealand-based building materials company with operations spanning New Zealand and Australia. It has a conglomerate structure with diverse operations across concrete, building products, steel, retail distribution, construction, and development. Having previously expanded internationally via acquisitions, operations have gradually refocused on the Australian and New Zealand businesses.

Contact
810 Great South Road, Penrose
Auckland, NTL, 1061, New Zealand
T +64 95259000
Sector Basic Materials
Industry Building Materials
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 3,851