Today Adairs released its AGM presentation. Consumer spending has remained resilient and FY23 guidance was unchanged from August at $625 - $665 million revenue and $75 - $85 million EBIT.

Valuation:

Assuming FY23 NPAT of $50.5 m or 29.5 cps (forecast from 10 analysts S&P global data, Simply Wall Street, based on Adairs August guidance) and using the StockVal formula with a required annual return of 15%, this gives me a current valuation of $2.80. For a required annual return of 12%, my current valuation would be $3.80.

Disc: held IRL and Strawman