Highlights

  • Consensus rating of Buy from 11 analysts: 6 Buy or equivalent, 5 Hold, 0 Sell or equivalent.
  • Mean price target of A$3.34 against a share price of A$3.05 on 8 October 2026, an implied upside of 9.4%.
  • Analyst targets range from A$3.00 to A$3.90.
  • Group Revenue was $19.6 billion, up 0.7%, or up 3.8% excluding tobacco.

Metcash (ASX:MTS) carries a consensus analyst rating of Buy. Of the 11 analyst recommendations recorded, 6 are Buy or equivalent, 5 are Hold and 0 are Sell or equivalent. The mean price target is A$3.34, with targets ranging from A$3.00 to A$3.90, against a current share price of A$3.05 (8 October 2026). Metcash Limited is a wholesale distribution and Marketing company supplying independent retailers across food, liquor and hardware and tools.

Company name

Metcash

Ticker

(ASX:MTS)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$3.05

Price date

8 October 2026

Number of analysts

11

Rating consensus

Buy

Consensus price target (mean)

A$3.34

Highest target

A$3.90

Lowest target

A$3.00

Implied upside/downside to mean target

Implied upside of 9.4%

Latest developments

Metcash (ASX:MTS) released its FY26 results for the year ended 30 April 2026 on 22 June 2026. Group revenue was $19.6 billion, up 0.7%, or up 3.8% excluding tobacco. Group EBITDA was $761.7 million, up 1.9%, and underlying EBIT was $503.7 million, down 0.8% or up 1.6% excluding one-off integration and strategy costs. Underlying EPS was 24.5 cents and Operating Cash Flow was $558 million, up 3.5%, with cash conversion of about 104%.

The total Dividend for the year is 18 cents per share, fully franked, including a final dividend of 9.5 cents, representing about 74% of Underlying Profit after tax. The Dividend reinvestment plan has been suspended until further notice. The company noted reduced Capital Expenditure and improved sales momentum in Hardware and Tools.

On trading for the first seven weeks of FY27, Metcash described a steady start, with a subdued May as consumer sentiment softened in response to geopolitical uncertainty and cost-of-living pressures, followed by an improvement in June. Food and Liquor recovered in the first three weeks of June to trade in line with FY26 growth levels. Hardware and Tools extended its improved second-half performance into early FY27, led by high single-digit growth in Total Tools, although market conditions are expected to remain challenging through the balance of FY27 and retail margins continue to be under pressure. A cost-out program is on track to deliver about $25 million of annualised savings in FY27.

Risks and what to watch

Underlying EBIT declined 0.8% on a reported basis, and revenue growth was 0.7% including tobacco. The company says market conditions in Hardware and Tools are expected to remain challenging, with retail margins under pressure, and notes softer consumer sentiment in May. The seven-week trading update is a short period and does not indicate full-year results. Earnings depend on independent retailer performance, cost Inflation and consumer spending.

Next milestones

Items to watch include payment of the final dividend, delivery of about $25 million of cost savings in FY27, trading through the balance of FY27 for Food, Liquor, and Hardware and Tools, and the company's first-half FY27 result.