Wesfarmers Ltd

WES: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Kmart and Bunnings Well Positioned for Weaker Consumer Backdrop

Johannes Faul

Feb 19, 2026

Business Strategy and Outlook

Wesfarmers is Australia's best-known conglomerate. Activities span discount department stores, office supplies, home improvement, energy manufacturing and distribution, industrial and safety supplies, chemicals, and fertilizers. Business interests can be divided into two broad groups: retail and industrial.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Wesfarmers Ltd

Kmart and Bunnings Well Positioned for Weaker Consumer Backdrop

Business Strategy and Outlook

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