JB Hi-Fi Ltd (JBH) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of JB Hi-Fi Ltd A$98.58, price A$70.09, upside +40.7%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range A$29.37 – A$114.85 · fair‑value band A$72.23 – A$123.22 · the A$70.09 price screens below the A$98.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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JB Hi-Fi Limited retails home consumer products. The company operates through four segments: JB Hi-Fi Australia, JB Hi-Fi New Zealand, The Good Guys, and e&s.
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JB Hi-Fi Limited retails home consumer products. The company operates through four segments: JB Hi-Fi Australia, JB Hi-Fi New Zealand, The Good Guys, and e&s. It provides computers and tablets; IT accessories and PC parts; headphones, speakers, and audio; smart homes; mobile phones; home appliances comprising large and small appliances, and personal care devices; gaming devices; turntables and vinyl accessories; and collectibles and merchandise, such as trading cards. The company also offers outdoors and travel products, including electric scooters and accessories, garden and outdoor living, and travel products; smart watches, fitness trackers, smart rings, fitness equipment, smart drink bottles, massagers, heat pads, smart scales and health monitors, air treatment, and sleep solutions; drones and cameras; office supplies comprising writing, stationery, notebooks, journals, planners, office tech, office furniture, and filing and storage products; and content creator gear. Additionally, it provides installation services for TV, projector, audio, computer, mobile, tablet, smart home, Wi-Fi, and home appliances; mobile services that include mobile plans; trade in services; home appliance delivery services; and information technology services. The company sells its products through branded retail store network comprising JB Hi-Fi/JB Hi-Fi Home stores in Australia; JB Hi-Fi stores in New Zealand; e&s stores in Australia; and The Good Guys stores in Australia, as well as online. JB Hi-Fi Limited was founded in 1974 and is based in Southbank, Australia.
Stock analysis
JB Hi-Fi Ltd (JBH) currently trades at A$70.09, while our model-based Fair Value estimate is A$98.58, implying the stock looks roughly 28.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of A$120.51 per share, and 19 of the 26 models we run sit above the A$70.09 price.
Bear case: the Asset-Based group reads lowest at A$10.04, and 7 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: A$72.23 (bear) to A$123.22 (bull), the price of A$70.09 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
JB Hi-Fi Ltd reported revenue of A$11.1B in FY2026 versus A$9.2B in FY2022, a compound +4.6%/yr. Reported net income was A$490M in FY2026, compounding −2.6%/yr from FY2022.
Key figures
Market cap A$7.7B (≈ $5.3B) · P/E ratio 15.7 · P/S ratio 0.69 · EPS (TTM) A$4.47 · Dividend yield 3.7% · Net margin 4.4% · Return on equity 30.0% · Return on assets (EBIT) 20.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 5% fair-value upside, at 41%, JBH screens cheaper than that median.
Fair Value models
Bear A$72.23Fair Value A$98.58Bull A$123.22
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 3 months old). Earnings retained since then (A$0.4839 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2021 (pandemic). Over 10 years: +10.8% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.4%
Dividend (yield on the price)3.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.4% vs 11.5%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 8%
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about −3.8% a year for the price and +0.6% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Retail · 218 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+40.6% · Above median
Profitability
Return on equity (TTM)30.0% · Top 25%
Return on assets11.8% · Top 25%
Net margin (TTM)4.4% · Above median
Operating margin (TTM)5.6% · Above median
Growth and dividend
Revenue growth1.9% · Below median
Dividend yield (TTM)3.7% · Above median
Valuation Multiplesvs Specialty Retail median · lower = cheaper
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As of Sep 27, 2026, our model estimates a fair value of A$98.58 versus a price of A$70.09, about +41% upside (undervalued).
What is the fair value of JBH?
Our model-based fair value for JB Hi-Fi Ltd is A$98.58 (as of Sep 27, 2026), built from audited fundamentals. The current price: A$70.09.
What is the quality score of JBH?
JB Hi-Fi Ltd has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JB Hi-Fi Ltd (JBH)?
Our model-based price target is the fair value of A$98.58 (as of Sep 27, 2026) from 26 valuation models. Cautious scenario A$72.23, optimistic scenario A$123.22. It is a calculation from audited fundamentals, not an analyst target.
What is the JB Hi-Fi Ltd stock forecast for 2026?
Our models put fair value at A$98.58, about +41% upside versus a price of A$70.09 (undervalued). Cautious scenario A$72.23, optimistic scenario A$123.22. The calculation is refreshed regularly with new filings.
What is the revenue of JB Hi-Fi Ltd (JBH)?
JB Hi-Fi Ltd reported trailing-twelve-month revenue of about A$11.1B (latest available figure, as of Sep 27, 2026).
Does JB Hi-Fi Ltd pay a dividend?
JB Hi-Fi Ltd currently shows a dividend yield of about 3.67% relative to its recent price (as of Sep 27, 2026).
What growth is priced into JB Hi-Fi Ltd (JBH)?
For today's price to be fair in a discounted-cash-flow model, JB Hi-Fi Ltd would have to grow free cash flow by -0.9 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of JBH use?
Our models discount JB Hi-Fi Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.83, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For JB Hi-Fi Ltd that is -0.9 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has JB Hi-Fi Ltd (JBH) delivered so far?
Over the past 5 years revenue at JB Hi-Fi Ltd grew +4.4 % a year. The price currently implies -0.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of JB Hi-Fi Ltd (JBH) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into JB Hi-Fi Ltd (-0.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of JB Hi-Fi Ltd (JBH)?
The free-cash-flow yield on the price is 7.99 %: that much free cash flow JB Hi-Fi Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of JB Hi-Fi Ltd (JBH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JB Hi-Fi Ltd it is A$98.58 per share (as of Sep 27, 2026), against a price of A$70.09. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is JB Hi-Fi Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, JBH trades below its calculated fair value: price A$70.09, fair value A$98.58, a gap of about +41% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JBH?
No. The price is what the market pays today (A$70.09); the fair value is what the company's own numbers justify (A$98.58). For JB Hi-Fi Ltd the two are A$28.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is JB Hi-Fi Ltd worth?
The market values JB Hi-Fi Ltd at about A$7.7B (market capitalisation, as of Sep 27, 2026). Per share that is A$70.09; our models calculate a fair value of A$98.58 per share.
What do the bullish and bearish scenarios say about JBH?
Our models span a range for JB Hi-Fi Ltd: cautious scenario A$72.23, base A$98.58, optimistic A$123.22 per share (as of Sep 27, 2026, price A$70.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JBH?
JB Hi-Fi Ltd trades at a price-to-earnings ratio of 15.7 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$98.58 is built from several models across several years. Other multiples: PEG 1.7, P/B 4.7, P/S 0.7, EV/EBITDA 9.4.
What is the PEG ratio of JBH?
The PEG ratio of JB Hi-Fi Ltd is 1.72 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of JB Hi-Fi Ltd (JBH)?
Balance-sheet figures for JB Hi-Fi Ltd (as of Sep 27, 2026): return on equity 30.0%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is JBH from its 52-week high?
JB Hi-Fi Ltd trades at A$70.09, about 39% below its 52-week high of A$114.12 and 8% above the low of A$64.74 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of A$98.58 is for.
Which stocks are comparable to JB Hi-Fi Ltd?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, Casey's General Stores, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is JB Hi-Fi Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price A$70.09, calculated fair value A$98.58 (+41%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JBH calculated?
We run JB Hi-Fi Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$98.58, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. JB Hi-Fi Ltd currently trades 29 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of JB Hi-Fi Ltd (JBH)?
The closing price on Oct 1, 2026 was A$70.09. Our model-based fair value is A$98.58, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JB Hi-Fi Ltd right now?
The price is below even our cautious bear case (A$72.23). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of JB Hi-Fi Ltd (JBH) come from?
Earnings per share at JB Hi-Fi Ltd grew +12.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +9.4 %, EBIT margin +1.8 %, tax rate +0.2 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of JB Hi-Fi Ltd
How large is the market capitalisation of JB Hi-Fi Ltd (JBH)?
The market capitalisation of JB Hi-Fi Ltd is A$7.7B (≈ $5.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JB Hi-Fi Ltd (JBH)?
The price-to-sales ratio of JB Hi-Fi Ltd is 0.69 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JB Hi-Fi Ltd (JBH)?
Earnings per share at JB Hi-Fi Ltd are A$4.47 (price ÷ EPS = P/E 15.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of JB Hi-Fi Ltd (JBH)?
The dividend yield of JB Hi-Fi Ltd is 3.7% (payout 57.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of JB Hi-Fi Ltd (JBH)?
The net margin of JB Hi-Fi Ltd is 4.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of JB Hi-Fi Ltd (JBH)?
The return on equity (ROE) of JB Hi-Fi Ltd is 30.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of JB Hi-Fi Ltd (JBH)?
On an EBIT basis the return on assets of JB Hi-Fi Ltd is 20.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of JB Hi-Fi Ltd (JBH)?
The operating margin of JB Hi-Fi Ltd is 5.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JB Hi-Fi Ltd (JBH)?
Revenue at JB Hi-Fi Ltd is growing +1.9% versus a year earlier (3y avg +4.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at JB Hi-Fi Ltd (JBH)?
Earnings per share at JB Hi-Fi Ltd are growing +4.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does JB Hi-Fi Ltd (JBH) carry?
The net debt of JB Hi-Fi Ltd is A$499M (fiscal year 2026, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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