Compare equities side by side
Stocks breaking to new annual highs
S&P 500 oversold value screener
Relative strength momentum leaders
Upcoming earnings dates & reports
Filter and sort all 500 stocks
Today's biggest gainers and losers
Visual sector performance
JB Hi-Fi is Australia and New Zealand's largest consumer electronics and home appliances retailer, operating 303 JB Hi-Fi branded stores and 194 The Good Guys stores across both markets. The company dominates discretionary electronics retail with approximately 20% market share in Australian consumer electronics, competing through aggressive pricing, extensive product range (50,000+ SKUs), and omnichannel capabilities that generated $10.6B in revenue over the trailing twelve months.
JB Hi-Fi operates a high-volume, low-margin retail model with 22.4% gross margins and 4.1% operating margins, generating returns through rapid inventory turnover (estimated 8-10x annually) and scale advantages in supplier negotiations. The company extracts value through category-killer positioning in electronics, leveraging 497 total store footprint for supplier rebates and volume discounts, while maintaining lean cost structures with store-level staff incentivized on sales performance. Competitive advantages include entrenched brand recognition in ANZ markets, proprietary customer data from 5+ million loyalty members, and integrated online/offline fulfillment enabling click-and-collect and same-day delivery in metro areas.
Comparable store sales growth (SSS) across JB Hi-Fi and The Good Guys banners - key indicator of market share and consumer demand strength
Gross margin trajectory driven by product mix shift (higher-margin appliances vs lower-margin TVs), supplier rebate negotiations, and promotional intensity
Online sales penetration and omnichannel conversion rates - digital now represents 10-15% of sales with higher growth rates
Australian consumer discretionary spending trends, particularly for big-ticket items ($1,000+ purchases) sensitive to wealth effects and credit availability
Market share gains/losses to Amazon Australia, Harvey Norman, Officeworks, and online-only competitors
Amazon Australia intensification and direct-to-consumer brand strategies (Samsung, LG, Apple expanding owned retail) eroding traditional retail intermediation, particularly in standardized electronics categories
Technological disruption extending product replacement cycles (smartphones now 3-4 years vs 2 years historically, 4K TV saturation reducing upgrade frequency) and category commoditization compressing margins
Shift to subscription/streaming services reducing physical media sales and potential for cloud gaming to disrupt console hardware cycles
Harvey Norman's vertically integrated model (property ownership, franchising) and Officeworks' expansion into consumer electronics creating price pressure in core categories
Online pure-plays (Kogan, Catch, Amazon) operating with lower cost structures and ability to sustain losses to gain share, forcing promotional spending
Supplier channel conflict as brands (Apple, Samsung, Sony) expand direct-to-consumer sales and potentially reduce retailer margins or allocations
Operating lease obligations across 497 stores create fixed cost base with limited flexibility in downturn - estimated $2B+ in lease commitments over 10+ year weighted average lease terms
Working capital intensity requires $800M-1B in inventory investment, creating cash flow volatility if sales decelerate and inventory turns slow, particularly in rapidly depreciating electronics categories
High dividend payout ratio (historically 80%+ of earnings) limits balance sheet flexibility and may require cuts if earnings decline, triggering negative stock reaction
high - Consumer electronics and home appliances are highly discretionary purchases that correlate strongly with household disposable income, employment confidence, and wealth effects from housing/equity markets. Big-ticket items (TVs $1,500+, appliances $2,000+) are particularly sensitive to economic uncertainty. The company's 10% revenue growth against challenging retail conditions demonstrates some resilience through market share gains, but underlying demand is GDP-sensitive. Australian household debt levels (among world's highest at 180%+ of disposable income) amplify cyclical sensitivity.
Rising interest rates negatively impact JB Hi-Fi through multiple channels: (1) reduced consumer discretionary spending as mortgage payments increase for 35% of Australian households with variable-rate loans, (2) lower housing turnover reducing appliance replacement cycles, (3) tighter consumer credit conditions affecting point-of-sale financing options, and (4) higher valuation multiples compression for retail equities. The company's 0.75x debt/equity ratio creates modest direct interest expense sensitivity, but demand-side effects dominate. Conversely, falling rates stimulate housing activity and discretionary spending.
Moderate exposure through consumer credit dynamics. While JB Hi-Fi doesn't extend credit directly, approximately 15-20% of sales utilize third-party point-of-sale financing (interest-free periods, buy-now-pay-later). Tightening credit standards or BNPL regulatory changes could reduce conversion rates on high-ticket purchases. The company's own balance sheet shows healthy 1.16x current ratio and strong cash generation, minimizing direct credit risk.
value/dividend - The stock trades at 0.9x price/sales and 9.7x EV/EBITDA with 9.5% FCF yield, attracting value investors seeking cash generation and high dividend yields (historically 4-6%). The 29.3% ROE appeals to quality-focused value managers. Recent 18.5% six-month decline has attracted contrarian investors betting on cyclical recovery. Not a growth stock given mature market position and single-digit revenue growth. Dividend sustainability is key focus given high payout ratios.
moderate-to-high - As a discretionary retailer, the stock exhibits higher beta (estimated 1.2-1.4x) to Australian equity markets and amplified sensitivity to consumer confidence shifts. Recent 18.5% six-month decline demonstrates downside volatility during rate hiking cycles. Quarterly earnings can drive 5-10% single-day moves based on comparable sales misses/beats. Less volatile than pure-play online retailers but more volatile than staples retailers.