FY25 operating profit
HitThe reported result is within the stated range.
SpotValue · Company research for self-directed ASX investorsIn development · Updated
Harbour Components
A fictional company dossier in ten sections. Select any numbered reference to read its source.
- Company
- Harbour Components (fictional)
- As at
- 21 August 2025
- Sections
- 10 of 10
- Status
- Fictional sample
Section 1: Company Profile
What does this business actually do?
Harbour Components supplies replacement parts to Australian manufacturers. It earns revenue from component sales and from maintenance contracts on installed equipment.1
Sources
- 1Example FY25 annual report, 21 Aug 2025, p. 4'Harbour Components supplies replacement parts to Australian manufacturers and maintains installed equipment under contract.'
- 2Example FY25 annual report, 21 Aug 2025, segment note 2
Section 2: Valuation Surface
What am I being asked to pay per dollar of ownership?
The share price, shares on issue, and earnings per share are dated and sourced below. These figures give you a starting point for your own valuation. SpotValue provides no fair-value estimate or price target.
Sources
- 1Example end-of-day market price, 30 Jun 2025
- 2Example FY25 annual report, 21 Aug 2025, note 18 (issued capital)
- 3Example FY25 annual report, 21 Aug 2025, note 7 (earnings per share)
Section 3: Financial Performance
Is the business getting better or worse over time?
| A$m | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Operating profit | 6.1 | 7.4 | 8.3 | 9.6 | 11.2 |
| Operating margin | 12.7% | 13.5% | 13.6% | 14.1% | 15.1% |
| Operating cash flow | 5.2 | 6.8 | 7.1 | 9.0 | 10.4 |
Sources
- 1Example FY25 annual report, 21 Aug 2025, five-year summary, p. 12
Section 4: Dividends & Capital Returns
How does management return capital to owners?
| Cents per share | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Dividends, fully franked1 | 3.5 | 4.0 | 4.5 | 5.0 | 6.0 |
- Payout ratio, FY25
- 51%Dividends ÷ earnings per share
- Share buybacks, FY21-FY25
- None disclosed2
Sources
- 1Example FY25 annual report, 21 Aug 2025, note 8 (dividends)
- 2Example FY25 annual report, 21 Aug 2025, directors' report, p. 21
Section 5: Operations
What are the underlying assets doing?
Harbour Components reports its stock levels, maintenance contracts, and average delivery times. These measures show how the distribution and maintenance business operates.
Sources
- 1Example FY25 annual report, 21 Aug 2025, operating review, p. 8
- 2Example FY25 results announcement, 21 Aug 2025, slide 6
Section 6: Management & Board
Who is running this and are they aligned with me?
- Board
- 5 directors, 3 independent1
- Managing director's holding
- 1.9m shares13.1% of shares on issue
- Latest director transaction
- Chair bought 40,000 shares2On market, 3 March 2025
Names are omitted from this fictional sample. Published dossiers are planned to list directors and their disclosed interests.
Sources
- 1Example FY25 annual report, 21 Aug 2025, remuneration report, p. 30
- 2Example Appendix 3Y, 3 Mar 2025
Section 7: Promise Tracker
Do they do what they say?
FY25 average delivery time
MissedThe reported result exceeds the 20-day ceiling.
Queensland distribution centre
Company reported · Not yet due
This target is not yet due as at the sample date. After the due period, the Standard allows one full reporting cycle for a disclosure that settles the outcome.
OpenNot yet due. It will be assessed against the FY26 disclosures.
3 promises: 1 hit, 1 missed, 1 open. A hit rate is shown only once five promises have been assessed.
Sources
- 1Example FY24 results announcement, 22 Aug 2024, p. 3'We expect FY25 operating profit of A$10-12 million.'
- 2Example FY25 results announcement, 21 Aug 2025, p. 2'Operating profit for FY25 was A$11.2 million.'
- 3Example FY24 results announcement, 22 Aug 2024, p. 5'We aim to reduce average delivery time to 20 days or less in FY25.'
- 4Example FY25 results announcement, 21 Aug 2025, slide 6'Average delivery time for FY25 was 24 days.'
- 5Example FY25 results announcement, 21 Aug 2025, p. 4'We expect our Queensland distribution centre to open by June 2026.'
Section 8: Events Timeline
What has happened and what is coming?
Sources
- 1Example ASX announcements list, FY25
- 2Example Appendix 3Y, 3 Mar 2025
Section 9: Strategic Commentary
What is the moat and how durable is it?
'Maintenance contracts give us recurring work across the equipment we have already supplied.'1
'Holding parts close to our customers is the basis of our delivery times.'2
These are management's statements about the business, with references to their sources. SpotValue does not assess those claims.
Sources
- 1Example FY25 annual report, 21 Aug 2025, chair's letter, p. 2'Maintenance contracts give us recurring work across the equipment we have already supplied.'
- 2Example FY25 annual report, 21 Aug 2025, managing director's review, p. 6'Holding parts close to our customers is the basis of our delivery times.'
Section 10: Outlook & Catalysts
What could change the outcome?
- FY26 operating profit guidance
- A$12-13.5m1Recorded as a new promise
- Queensland distribution centre
- By June 20261Company-stated milestone
Risks disclosed by the company2
- Steel and freight input costs
- Customer concentration: the largest customer was 14% of FY25 revenue
- Availability of skilled maintenance technicians
Sources
- 1Example FY25 results announcement, 21 Aug 2025, p. 4'We expect FY26 operating profit of A$12-13.5 million.'
- 2Example FY25 annual report, 21 Aug 2025, material business risks, p. 24