Fact based stock research
Kogan.com (ASX:KGN)

AU000000KGN2

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Kogan.com stock research in summary

kogancorporate.com

ANALYSIS: With an Obermatt Combined Rank of 75 (better than 75% compared with investment alternatives), Kogan.com (Internet Retail, Australia) shares have much better financial characteristics than comparable stocks. Shares of Kogan.com are a good value (attractively priced) with a consolidated Value Rank of 51 (better than 51% of alternatives), show above-average growth (Growth Rank of 51), and are safely financed (Safety Rank of 71), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 75, is a strong buy recommendation based on Kogan.com's financial characteristics. As the company Kogan.com's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 51), above-average growth (Obermatt Growth Rank of 51), and indicate that the company is safely financed (Obermatt Safety Rank of 71), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Kogan.com. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	51
Growth Rank	51
Safety Rank	71
Combined Rank	75

Country	Australia
Industry	Internet Retail
Index	ASX 300
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Kogan.com

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	21	17	53	51
GROWTH
GROWTH	3	100	39	51
SAFETY
SAFETY	53	44	56	71
SENTIMENT
SENTIMENT	12	5	16	^new
360° VIEW
360° VIEW	1	25	25	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Kogan.com is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	21	17	53	51
GROWTH
GROWTH	3	100	39	51
SAFETY
SAFETY	53	44	56	71
COMBINED
COMBINED	4	58	49	75

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Kogan.com the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 51 (better than 51% compared with alternatives), Kogan.com shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for Kogan.com. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 82% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 45 which means that the stock price compared with what market professionals expect for future profits is higher than 55% of comparable companies, indicating a low value concerning Kogan.com's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 45 which means that the stock price compared with what market professionals expect for future profit levels is higher than 55% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 36 is also low. Compared with invested capital, the stock price is higher than for 64% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 51, is a buy recommendation based on Kogan.com's stock price compared with the company's operational size and dividend yields. Should dividend investors pick Kogan.com? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose Kogan.com only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	51	38	45	45
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	23	5	47	45
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	30	32	26	36
DIVIDEND YIELD
DIVIDEND YIELD	25	32	85	82
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	21	17	53	51

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Kogan.com; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 51 (better than 51% compared with alternatives), Kogan.com shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Kogan.com. Sales Growth has a rank of 85 which means that currently, professionals expect the company to grow more than 85% of its competitors. Capital Growth is also above 4% of competitors with a rank of 72. But Profit Growth only has a rank of 4, which means that currently professionals expect the company to grow its profits less than 96% of its competitors. And Stock Returns have also been below average with a rank of only 39. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 51, is a buy recommendation for growth and momentum investors. Profits are sometimes low if the company invests in the future. The positive revenue and capital investment outlook confirms such an interpretation. Both revenues and capital are solid growth indicators, and lower profits in such a case would be encouraging. But the investors see it differently by punishing the share price. Sometimes, Mister Market is not very reliable, because it is not uncommon for it to be volatile. Investors should look out for signs of growth expenditure that could justify low profit growth, and they may also find reasons why recent stock price developments don't confirm the growth outlook of operations. While operating growth indicators are not perfect, they are more reliable indicators for future performance than stock prices that can repeatedly surprise investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	51	68	65	85
PROFIT GROWTH
PROFIT GROWTH	6	96	52	4
CAPITAL GROWTH
CAPITAL GROWTH	32	88	55	72
STOCK RETURNS
STOCK RETURNS	3	95	17	39
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	3	100	39	51

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Kogan.com.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 71 (better than 71% compared with alternatives), the company Kogan.com has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Kogan.com is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Kogan.com and the other two below average. Leverage is at a rank of 83 meaning the company has a below-average debt-to-equity ratio. It has less debt than 83% of its competitors.Refinancing is at a rank of 48, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 52% of its competitors. Liquidity is at a rank of 49, meaning that the company generates less profit to service its debt than 51% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 71 (better than 71% compared with alternatives), Kogan.com has a financing structure that is safer than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of Kogan.com are on the safer side. Investors may have a short-term debt challenge and liquidity issues with Kogan.com and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	42	81	73	83
REFINANCING
REFINANCING	68	50	46	48
LIQUIDITY
LIQUIDITY	42	4	37	49
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	53	44	56	71

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Kogan.com and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	1	3	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	17	5	^new
PRO HOLDINGS
PRO HOLDINGS	63	8	39	^new
MARKET PULSE
MARKET PULSE	13	59	82	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	12	5	16	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Kogan.com.
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