Reece Limited (REH.AX)
Industrials · ASX · Australia
Fundamentals
Valuation and ratings
Reece Limited trades at AUD16.15, which is 60% above the AUD6.42 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 36 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 36.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
REH.AX dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | AUD0.054 | 1 |
| 2025 | AUD0.184 | 2 |
| 2024 | AUD0.258 | 2 |
| 2023 | AUD0.250 | 2 |
| 2022 | AUD0.225 | 2 |
| 2021 | AUD0.180 | 2 |
| 2020 | AUD0.120 | 2 |
| 2019 | AUD0.201 | 2 |
| 2018 | AUD0.201 | 2 |
| 2017 | AUD0.196 | 2 |
| 2016 | AUD0.181 | 2 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
REH.AX earnings and analyst estimates
Recommendation mix, 14 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Reece Limited
Reece Limited engages in the distribution of plumbing, waterworks, heating, ventilation, air-conditioning, and refrigeration products to commercial and residential customers in Australia, New Zealand, and the United States. The company also offers irrigation and pools, and fire products. Its products include tapware and accessories; vanities and mirrors; showers; toilets; basins; baths and spas; pipe and fittings; sinks and troughs; hot water systems; bathroom and kitchen appliances; heating and cooling; irrigation and pools; pumps and water filtration systems; tools; and valves. The company serves customers in the trade, retail, commercial, and infrastructure markets. The company was formerly known as Reece Australia Limited and changed its name to Reece Limited in November 2015. Reece Limited was founded in 1919 and is based in Cremorne, Australia.
REH.AX passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Reece Limited (REH.AX) undervalued?
Against our discounted cash flow estimate of AUD6.42, REH.AX at AUD16.15 is 60% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is REH.AX's P/E ratio?
REH.AX trades at 36.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Reece Limited (REH.AX) pay a dividend?
Yes. Reece Limited yields 1.06% at the current share price. It has paid AUD0.173 per share over the trailing twelve months. It has paid a dividend in each of the last 38 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does REH.AX report earnings next?
Reece Limited is scheduled to report on 24 Aug 2026. Companies move earnings dates, so read it as scheduled rather than certain.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.