HOWDEN JOINERY (HWDJY)

Thursday

10:50 PM

Thesis: Recent declines in consumer sentiment and housing starts have raised concerns about future demand for Howden's products, leading to a more cautious outlook among investors.

Revenue Outlook

Metric	FY2025	FY2026E	FY2027E
Revenue	$2.4B	$2.5B	$2.7B
Rev. Growth	+4.1%	+5.1%	+5.0%
EPS	$1.92	$2.00	$2.13
EPS Growth	+4.3%	+4.2%	+6.4%
P/E (fwd)	20.5×	19.7×	18.5×

★ Analysts see FY2026 revenue reaching $2.5B — +5.1% growth in a single year.

What Moves the Stock

1Changes in UK housing market activity, particularly new home builds and renovations
2Consumer spending trends in home improvement and renovation sectors
3Raw material cost fluctuations, especially timber and steel prices
4Changes in trade customer demand and order volumes
5Kitchen products (approximately 70% of total revenue)
6Joinery products (approximately 20% of total revenue)
7Other products and services (approximately 10% of total revenue)
8Sustainability in home improvement products

FY2025 Snapshot

Revenue: $2.4B
Rev. Growth: +4.1%
Gross Margin: 61.3%
Op. Margin: 14.5%
Net Margin: 10.8%
Net Income: $262M
NI Growth: +5.0%
EPS: $1.92
1Y Return: -23.3%

HWDJY Chart

My Notes

"Management noted, 'We are closely monitoring market conditions as we navigate through a challenging economic environment.'"
Moat: Howden's strong brand recognition and extensive distribution network provide a durable competitive advantage in the UK market.
value - Investors may be attracted to Howden due to its strong fundamentals and potential for recovery in the housing market.
Higher interest rates can dampen consumer spending on home improvements and renovations, negatively impacting demand for Howden's products.
Watch on earnings: UK housing starts, Consumer sentiment index, Timber and steel price indices.

One Sentence Summary:

Howden Joinery: the story is balanced — changes in uk housing market activity, particularly new home builds and renovations.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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