Fletcher Building Ltd
FBU: XNZE (NZL)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
NZD 9.50 | Xvvgx | Rpfb |
Lowering Our Fair Value Estimate for Fletcher on a More Troubled Near-Term Outlook
Business Strategy and Outlook
Fletcher Building operates across six segments: building products; distribution; concrete; Australia; residential and development and construction. Fletcher's earnings are tied to construction activity in Australia and New Zealand. In fiscal 2023, EBIT was approximately split: 25% building products; 17% residential and development; 16% distribution; 18% concrete; 21% Australia; and 3% construction.