Michael Hill International Ltd (MHJ) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Michael Hill International Ltd stock A$0.61, price A$0.35, upside +76.8%, quality 70 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range A$0.2887 – A$1.17 · fair‑value band A$0.4600 – A$0.7600 · the A$0.3450 price screens below the A$0.6100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Michael Hill International Limited operates in the retail sale of jewellery and related services sector in Australia, New Zealand, and Canada. It offers rings, earrings, charms, bracelets and bangles, necklaces and pendants, chains, watches, gemstones, anklets, and gifts, as well as birthstones.
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The company also provides professional care plans and diamond warranty services; and financial solutions. It offers its products through online. Michael Hill International Limited was founded in 1979 and is based in Cannon Hill, Australia.
Stock analysis
Michael Hill International Ltd (MHJ) currently trades at A$0.3450, while our model-based Fair Value estimate is A$0.6100, implying the stock looks roughly 43% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of A$2.84 per share, and 20 of the 24 models we run sit above the A$0.3450 price.
Bear case: the Asset-Based group reads lowest at A$0.2300, and 4 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: A$0.4600 (bear) to A$0.7600 (bull), the price of A$0.3450 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 70/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Michael Hill International Ltd reported revenue of 798M NZD in FY2026 versus 657M NZD in FY2022, a compound +5.0%/yr. Reported net income was 12.2M NZD in FY2026, compounding −30.4%/yr from FY2022.
Key figures
Market cap A$133M (≈ $91.5M) Micro · P/E ratio 11.5 · P/S ratio 0.20 · EPS (TTM) A$0.0300 · Dividend yield 5.8% · Net margin 1.5% · Return on equity 5.8% · Return on assets (EBIT) 11.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at 77%, MHJ screens cheaper than that median.
Fair Value models
BearA$0.4600Fair Value A$0.6100BullA$0.7600
Price A$0.3450 · Upside +76.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0036 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.Coverage ⓘCoverage = 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.63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.3%
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.
+5.3%
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.
+6.1%
Start year 2021 (pandemic). Over 10 years: +3.3% a year
Revenue growth 31 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.
+7.4%
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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.
−18.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.0%
Dividend (yield on the price)5.8%
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.−24.0% vs −7.9%, 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.10% → 8%
Compare Michael Hill International Ltd with another stock
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.Luxury Goods · 121 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+76.8% · Top 25%
Profitability
Return on equity (12 months)5.8% · Below median
Return on assets2.1% · Below median
Net margin (12 months)1.5% · Below median
Operating margin (12 months)−0.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)0.9% · Below median
Dividend yield (12 months)5.8% · Top 25%
Balance sheet
Debt / equity0.12× · Highest 25%
Valuation Multiplesvs Luxury Goods median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Michael Hill International Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MHJ
Frequently asked questions
Is Michael Hill International Ltd (MHJ) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of A$0.6100 versus a price of A$0.3450, about +77% upside (undervalued).
What is the fair value of MHJ?
Our model-based fair value for Michael Hill International Ltd is A$0.6100 (as of Nov 4, 2026), built from audited fundamentals. The current price: A$0.3450.
What is the quality score of MHJ?
Michael Hill International Ltd has a Quality Score of 70/100. 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 Michael Hill International Ltd (MHJ)?
Our model-based price target is the fair value of A$0.6100 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario A$0.4600, optimistic scenario A$0.7600. It is a calculation from audited fundamentals, not an analyst target.
What is the Michael Hill International Ltd stock forecast for 2026?
Our models put fair value at A$0.6100, about +77% upside versus a price of A$0.3450 (undervalued). Cautious scenario A$0.4600, optimistic scenario A$0.7600. The calculation is refreshed regularly with new filings.
What is the revenue of Michael Hill International Ltd (MHJ)?
Michael Hill International Ltd reported trailing-twelve-month revenue of about A$659M (latest available figure, as of Nov 4, 2026).
Does Michael Hill International Ltd pay a dividend?
Michael Hill International Ltd currently shows a dividend yield of 5.80% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Michael Hill International Ltd (MHJ) and when is the ex-dividend date?
Michael Hill International Ltd pays a dividend of A$0.02 per share a year, a dividend yield of 5.8%. The last ex-dividend date was Sep 7, 2026. The payout ratio is 66.7% of earnings. Free cash flow covers the dividend 13.65 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What is the intrinsic value of Michael Hill International Ltd (MHJ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Michael Hill International Ltd it is A$0.6100 per share (as of Nov 4, 2026), against a price of A$0.3450. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Michael Hill International Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, MHJ trades below its calculated fair value: price A$0.3450, fair value A$0.6100, a gap of about +77% (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 MHJ?
No. The price is what the market pays today (A$0.3450); the fair value is what the company's own numbers justify (A$0.6100). For Michael Hill International Ltd the two are A$0.2650 per share apart. That gap is exactly why we show both numbers side by side.
How much is Michael Hill International Ltd worth?
The market values Michael Hill International Ltd at about A$133M (market capitalisation, as of Nov 4, 2026). Per share that is A$0.3450; our models calculate a fair value of A$0.6100 per share.
What do the bullish and bearish scenarios say about MHJ?
Our models span a range for Michael Hill International Ltd: cautious scenario A$0.4600, base A$0.6100, optimistic A$0.7600 per share (as of Nov 4, 2026, price A$0.3450). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MHJ?
Michael Hill International Ltd trades at a price-to-earnings ratio of 11.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$0.6100 is built from several models across several years. Other multiples: P/B 0.6, P/S 0.2, EV/EBITDA 2.8.
How solid is the balance sheet of Michael Hill International Ltd (MHJ)?
Balance-sheet figures for Michael Hill International Ltd (as of Nov 4, 2026): return on equity 5.8%, debt of 0.12 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is MHJ from its 52-week high?
Michael Hill International Ltd trades at A$0.3450, about 22% below its 52-week high of A$0.4402 and 20% above the low of A$0.2887 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.6100 is for.
Which stocks are comparable to Michael Hill International Ltd?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Tapestry, Inc, Chow Tai Fook Jewellery Group, 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 Michael Hill International Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price A$0.3450, calculated fair value A$0.6100 (+77%), Quality Score 70/100, from 24 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 MHJ calculated?
We run Michael Hill International Ltd through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of A$0.6100 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Michael Hill International Ltd currently trades 43% 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 Michael Hill International Ltd (MHJ)?
The closing price on Nov 9, 2026 was A$0.3450. Our model-based fair value is A$0.6100, about +77% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Michael Hill International Ltd right now?
The price is below even our cautious bear case (A$0.4600). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (70/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Michael Hill International Ltd (MHJ) come from?
Earnings per share at Michael Hill International Ltd grew −13.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.5 %, EBIT margin −1.7 %, tax rate −0.6 %, residual (interest, one-offs) −13.4 %. 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 Michael Hill International Ltd
How large is the market capitalisation of Michael Hill International Ltd (MHJ)?
The market capitalisation of Michael Hill International Ltd is A$133M (≈ $91.5M). 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 Michael Hill International Ltd (MHJ)?
The price-to-sales ratio of Michael Hill International Ltd is 0.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Michael Hill International Ltd (MHJ)?
Earnings per share at Michael Hill International Ltd are A$0.0300 (price ÷ EPS = P/E 11.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Michael Hill International Ltd (MHJ)?
The dividend yield of Michael Hill International Ltd is 5.8% (payout 66.7%). 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 Michael Hill International Ltd (MHJ)?
The net margin of Michael Hill International Ltd is 1.5% (last twelve months). 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 Michael Hill International Ltd (MHJ)?
The return on equity (ROE) of Michael Hill International Ltd is 5.8% (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 Michael Hill International Ltd (MHJ)?
On an EBIT basis the return on assets of Michael Hill International Ltd is 11.0% (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 Michael Hill International Ltd (MHJ)?
The operating margin of Michael Hill International Ltd is −0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Michael Hill International Ltd (MHJ)?
Revenue at Michael Hill International Ltd is growing +0.9% versus a year earlier (3y avg +5.3%). 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 Michael Hill International Ltd (MHJ)?
Earnings per share at Michael Hill International Ltd are growing +31.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Michael Hill International Ltd (MHJ) generate?
The free cash flow of Michael Hill International Ltd is A$105M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Michael Hill International Ltd (MHJ) carry?
The net debt of Michael Hill International Ltd is A$161M (fiscal year 2026, ≈ 1.5 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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Nov 4, 2026