J P M O R G A N Asia Pacific Equity Research 17 August 2026 JB Hi-Fi Limited FY26 Result First Take – Facing operating deleverage in FY27e as sales growth well below wage growth Overweight JBH.AX, JBH AU Price (14 Aug 26):A$81.71 Price Target (Aug-27):A$90.00 Australian Consumer Sector Bryan Raymond AC (61-2) 9003-6750 bryan.raymond@jpmorgan.com JB Hi-Fi's FY26 result was in-line with consensus and JPMe across EBIT ($734.4m vs. Consensus $735.9m and JPMe $736.8m) and NPAT ($489.9m vs. Consensus $492.2m and ...