Coles operates its namesake supermarkets as well as bottle shops Liquorland, First Choice Liquor Market, and Vintage Cellars. It also has the Flybuys program that seeks to reward loyal customers with various points redemption options and also makes more money for the company.

Coles reported solid FY25 results, with total sales revenue up and underlying profit after tax around A$1.18bn, reflecting resilient performance in a challenging inflationary retail environment and solid execution of cost-efficiency initiatives.

While margins remained under pressure from discounting and wage cost growth, the company maintained disciplined inventory control and competitive pricing that preserved market share in key segments. Its consistent dividends and strong balance sheet have historically made Coles a favourite among value-oriented investors seeking reliable earnings and defensive characteristics.

Despite macroeconomic headwinds — including subdued consumer spending in certain categories — Coles’ strategic focus on productivity and targeted growth initiatives such as liquor and convenience formats position it to hold earnings stability even if broader retail sentiment cools.

The combination of steady earnings, predictable cash flows and a comparatively low valuation relative to growth peers supports its classification as a value stock within the ASX benchmark.

James Hardie Industries is a global building materials group best known for fibre-cement products used in residential and commercial construction. Listed on both the ASX and NYSE, its portfolio includes a broad range of exterior siding, facades and weatherboards sold across major markets, with a particularly strong presence in North America. Hardie’s long-term cash generation historically made it attractive to value investors, especially when its valuation came below intrinsic levels following share price weakness.

However, its most recent period has been challenging. The company announced an A$8.8bn acquisition of U.S. outdoor products maker AZEK Co, aiming to broaden its product range and accelerate growth, but investor reaction has been negative for various reasons including a perception it was too costly, a refusal to give ASX investors a vote and a view it'd be a 'slippery slope' to the company leaving the ASX.

James Hardie shares have traded down over the past year, reflecting concerns around valuation, integration risk and diluted earnings expectations. This has positioned the stock at lower levels relative to past peaks, which some value investors interpret as an opportunity if they believe the acquisition will eventually deliver returns.

Market scrutiny has intensified — including shareholder criticisms about governance and board composition — following the AZEK deal and resulting leadership upheavals. The stock’s volatility and recent earnings impacts underscore the risk/value trade-off at current prices.

Hardie’s fundamental earnings and free cash flow generation remain key to its value case, but prospective investors should carefully consider how integration progress, global construction demand and foreign currency exposure influence results going forward.

Sandfire Resources is an Australian diversified mining company with copper at its core, supplemented by gold and other by-product metals. Its principal assets include the DeGrussa Copper-Gold Mine in Western Australia and other strategically valuable projects in Europe and Africa.

Copper’s demand fundamentals linked to electrification and decarbonisation make Sandfire’s asset base long-term relevant, while cyclical commodity pricing means the stock can trade at prices below intrinsic value when markets are softer.

In its latest operating results, production volumes and unit costs have remained competitive, and the company emphasised robust free cash flow generation despite fluctuating metal prices.

Mining companies like Sandfire are often considered by value investors when copper prices are depressed — the argument being that underlying asset quality and long-term demand support valuation rebounds.

Nonetheless, earnings remain sensitive to commodity cycles, and investors should monitor commodity forecasts and hedging exposures when assessing value.

IDP Education operates globally in international student placement and English language testing, including co-ownership of the IELTS exam. Its services connect students with education institutions worldwide, particularly in Australia, the UK and North America.

Being exposed to cyclical education demand, recent results showed a 14% decline in revenue to ~$882 million and a significant drop in adjusted EBIT, reflecting soft enrolments and slower post-pandemic mobility.

While those figures can deter short-term investors, value analysts may view the lower share price and earnings as framing a potential turnaround opportunity if international student flows recover and cost discipline improves. The company’s global reach and structural position in an important education segment support long-term asset value.

Acrow is an industrial engineering and access solutions provider specialising in scaffolding, formwork and temporary support for infrastructure, mining and construction projects. It’s a capital-intensive business with earnings tied to project cycles, but its specialist niche and backlog contracts provide revenue visibility that can underpin valuation resilience.

The stock has been under pressure to due conditions in the construction industry. But investors looking for deep‐value situations may find the stock attractive if future construction activity exceeds current market expectations. The durability of its contracts and the ongoing need for infrastructure work support the company’s long-term asset base.

Elders is a long-established Australian agribusiness and rural services group that operates across a diverse portfolio of agricultural supply, livestock, rural merchandise, real estate, and specialist services for the farming sector.

Its operations span the entire agricultural value chain — from supplying inputs such as fertilisers, animal health products and crop protection chemicals to managing livestock markets, providing advisory services and operating rural merchandise stores. Elders also engages in rural real estate and financial services tailored to farming customers, aiming to offer an integrated suite of solutions that support rural producers through cyclical agricultural conditions.

The company’s deep industry heritage, national footprint and range of revenue streams give it a unique niche in Australia’s corporate landscape, and when its valuation has softened relative to long-term earnings potential, value-oriented investors have taken notice.

In its most recent FY25 full-year results for the 12 months to 30 September 2025, Elders reported resilient financial performance despite mixed seasonal conditions across key agricultural regions. Revenue increased modestly to A$3.20bn, up around 2.3 % year-on-year, while its profit was $86m demonstrating operational strength in livestock, real estate, financial services and other divisions.

Investors often view Elders through a value lens when its share price reflects greater short-term agricultural headwinds than the businesses’ long-term fundamentals. Its diversified operations help mitigate the risk of softer conditions in one segment, and consistent dividends contribute to total shareholder return.

However, cyclical agricultural markets, seasonal weather variability and input cost pressures are ongoing risks that can influence earnings. The value proposition lies in Elders’ ability to generate stable cash flow and dividend income while trading at lower multiples than its longer-term growth trajectory might suggest to some market participant