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Australia's second-largest supermarket chain, spun off from Wesfarmers, also operating liquor and convenience retail.
Australia's second-largest supermarket chain, spun off from Wesfarmers, also operating liquor and convenience retail.
Earns from groceries sold in its own supermarkets, which carry the group, with own-label products and charges to suppliers for promotions and advertising adding to the margin. It was demerged from Wesfarmers in 2018 and has been listed in its own right since.
In one line: Australia's Albertsons.
Moat: wide (scale, distribution, brand). Part of Australia's supermarket duopoly with Woolworths, giving significant buying/distribution scale.
Headquarters: Melbourne, Australia · Founded: 2018 · Employees: 115,000
Size Coles (COL.AX) is an Australia Consumer Staples company (Food Retail) with a market value of $21.0B, the 19th largest of 316 Australia companies the cockpit tracks. Shares closed at A$22.60 on 6 Nov 2026.
Performance Over six months the shares gained 7.0%, against +13.1% for the median peer and +4.1% for the Australia market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +3.7%); the operating margin is 4.3% (peer median 4.3%).
Valuation It trades at 24.4× forward earnings against a peer median of 17.5× (4th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.6 points above its cost of capital (6.7% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$45.7B | A$45.7B | A$44.5B | A$43.7B | A$40.6B |
| Revenue growth | — | +3% | +2% | +8% | — |
| Gross profit | A$12.4B | A$10.7B | A$10.3B | A$9.87B | A$9.10B |
| EBITDA | A$3.85B | A$3.86B | A$3.79B | A$3.58B | A$3.22B |
| Net income | A$1.09B | A$1.09B | A$1.08B | A$1.12B | A$1.12B |
| Free cash flow | A$1.85B | A$1.85B | A$1.45B | A$1.12B | A$1.29B |
| Capital expenditure | A$1.49B | A$1.49B | A$1.49B | A$1.67B | A$1.51B |
| Total debt | n/a | A$9.89B | A$10.3B | A$10.1B | A$8.97B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Coles COL.AX | $21.0B | +7% | +3% | 4% | 24.4× | 5.5% |
| Woolworths WOW.AX | $35.8B | +29% | +4% | 4% | 28.8× | 8.8% |
| Metcash MTS.AX | $2.55B | +12% | 0% | 3% | 14.1× | 0.9% |
| Costco COST | $467B | +4% | +10% | 4% | 46.2× | 19.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | COL.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | +7.7% | lowest of 21 |
| 6-month return | +7.0% | +13.1% | 9th lowest of 21 |
| Distance from 52-week high | -8.7% | -7.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +2.8% | +3.7% | 9th lowest of 21 |
| Operating margin | 4.3% | 4.3% | 11th highest of 21 |
| Forward P/E | 24.4× | 17.5× | 4th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.5% | 1.9% | 7th most demanding of 21 |
| Growth delivered (Del g) | +3.3% | +5.0% | 5th lowest of 21 |
| Hurdle (Req g minus delivered) | +2.3 pp | -7.0 pp | 4th most demanding of 21 |
| ROIC minus cost of capital | +3.6 pp | +3.2 pp | 9th highest of 20 |
| EV / EBITDA | 10.3× | 8.6× | 8th most expensive of 20 |
| Net debt / EBITDA | 2.4× | 2.3× | 10th most indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Coles COL.AX | Australia | $21.0B | +7% | +3% | 4% | 24.4× | 5.5% | +3.3% |
| George Weston WN.TO | Canada | $29.0B | +15% | +4% | 9% | 21.0× | -7.3% | +3.9% |
| Metro MRU.TO | Canada | $14.6B | +11% | +3% | 6% | 19.4× | -0.7% | +4.1% |
| Seven & I 3382.T | Japan | $31.7B | +16% | -11% | 4% | 17.4× | 4.0% | +12.6% |
| Koninklijke Ahold Delhaize AD.AS | Netherlands | $33.3B | -6% | 0% | 4% | 12.7× | -7.0% | +4.3% |
| Uni-president Enterprises 1216.TW | Taiwan | $13.2B | +11% | +1% | 5% | 17.6× | 0.6% | +8.5% |
| Woolworths WOW.AX | Australia | $35.8B | +29% | +4% | 4% | 28.8× | 8.8% | +5.1% |
| Kesko KESKOA.HE | Finland | $11.3B | +23% | +6% | 5% | 20.6× | 4.8% | +3.2% |
| Kroger KR | United States | $40.0B | +4% | +2% | 3% | 13.1× | -6.0% | +2.2% |
| BBB Foods TBBB | United States | $10.8B | +72% | +52% | 1% | n/a | 49.9% | +37.1% |
| J Sainsbury SBRY.L | United Kingdom | $10.4B | +16% | -3% | 3% | 14.9× | 7.8% | +3.0% |
| Tesco TSCO.L | United Kingdom | $46.2B | +21% | +5% | 4% | 17.5× | 5.9% | +5.0% |
| Dino Polska DNP.WA | Poland | $9.36B | +31% | +14% | 6% | 22.2× | 17.9% | +27.1% |
| MIXUE 2097.HK | Hong Kong | $8.80B | -37% | +35% | 20% | 11.5× | -18.5% | +32.1% |
| Zabka ZAB.WA | Poland | $8.11B | +41% | +14% | 8% | 25.3× | 6.3% | +19.3% |
| Empire EMP-A.TO | Canada | $7.85B | +7% | +2% | 4% | 13.6× | -2.7% | +2.5% |
| Loblaw Companies L.TO | Canada | $57.0B | +16% | +4% | 7% | 26.1× | -1.0% | +3.9% |
| Guming 1364.HK | Hong Kong | $7.08B | -4% | +47% | 25% | 14.8× | -4.1% | +29.4% |
| President Chain Store 2912.TW | Taiwan | $6.62B | -6% | +5% | 4% | 17.0× | 3.3% | +6.3% |
| Axfood AXFO.ST | Sweden | $6.26B | +4% | +2% | 3% | 24.3× | 3.2% | +10.7% |
| Albertsons Companies ACI | United States | $6.02B | -20% | +2% | 2% | 7.0× | -3.0% | +3.6% |