Loading companies…

Brambles Ltd ASX:BXB

Margin Expansion Share Buyback Free Cash Flow

3 opened or increased9 held5 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 20 managers in total.

Position history by manager Showing 3 of 20 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

17 more managers have commented on BXBPro shows the full position history for all 20 managers.

Upgrade to Pro

202420252026

11 May 2025 to today

Commentary Showing 2 of 34

DateManagerActionSummary

30 Sep 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold Brambles Ltd despite the global supply chain and logistics company being a key detractor in the September 2026 quarter, falling 13.8%. The decline followed a May trading update that cut FY26 profit growth guidance to 3–5% from 8–11%, due to repair capacity constraints in parts of its US service centre network caused by subcontractor issues and higher pallet quality standards required by customers' automated distribution centres. The manager notes underlying demand remains solid, free cash flow guidance was maintained and a US$400 million buyback was announced. It views the network issues as transitory, though unlikely to be resolved before the end of the first half of FY27.

Share BuybackQuarterly Report, price recorded $19.52

The source document link is a Pro feature

25 Sep 2026Perpetual Asset ManagementHeldPerpetual Asset Management rates Brambles a hold, attributing recent share price volatility to a pallet shortage and problems with third-party service centres. Perpetual believes the root cause was the company tightening supply chain costs to the point of stressing its network, and notes some of the cost to rectify this will be structural as Brambles builds resilience. The manager expects Brambles to try passing these costs on through price increases, but sees this as challenging given a tough consumer environment, falling US volumes and stressed customers. This creates uncertainty around achieving the expected second-half earnings skew, though Perpetual would find the stock interesting on further weakness.

Article, price recorded $18.55

The source document link is a Pro feature

32 more comments on BXBPro shows every comment, with a link to each source document.

Upgrade to Pro

First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 20 managers first commented on BXB.

View Pro

Articles

About Brambles Ltd

Industrials, Commercial Services and Supplies

Brambles (ASX:BXB), the global pallet pooling leader behind CHEP, has divided fund managers after a costly US pallet shortage. In September 2026, Blackwattle Investment Partners rated Brambles a buy, arguing the share price fall was exaggerated relative to the estimated US$230 million cost of the issue, while Perpetual rated it a hold. Pendal Group noted FY26 results matched downgraded guidance and service levels have been restored after investment in pallet availability. Brambles operates in the Industrials sector within the Commercial Services and Supplies industry, and Thesis Tracker has captured 31 comments from 19 fund managers, including Blackwattle, Perpetual, Pendal Group, Investors Mutual and Wilson Asset Management. Headquartered in Sydney, Brambles provides reusable pallets and containers through its CHEP network across the Americas, Europe, Middle East and Africa and Asia Pacific, supporting global supply chains for consumer staples and manufacturing.

Market cap: $26.3b
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%
52-week range: $16.18 to $25.56

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Brambles Ltd (ASX:BXB)?

Fund managers including Cooper Investors, Equity Trustees Asset Management, Blackwattle Investment Partners, Antares Capital, Wilson Asset Management, Infinity Asset Management, Pendal Group, Australian Eagle Asset Management, Paradice Investment Management, Ellerston Capital, Oracle Advisory Group, Solaris Investment Management, Investors Mutual Limited, Ten Cap, Yarra Capital Management, Firetrail Investments, Bennelong Australian Equity Partners, Alliance Bernstein, First Samuel and Perpetual Asset Management have invested in Brambles Ltd (ASX:BXB).

What opportunities or catalysts do fund managers highlight for Brambles Ltd?

Investors Mutual highlights Brambles' global network advantage, with around 80% of volumes in defensive categories such as food and beverages, a valuation near 17 times earnings and strong sustainability credentials. Blackwattle believes the market has overreacted to a one-off pallet shortage, and Pendal notes revenue and EBITDA still grew and service levels have recovered.

What are the key risks to the Brambles Ltd investment thesis, according to fund managers?

Wilson Asset Management has questioned management's transparency around the surprise cost increase, saying trust issues make it hard to invest for now. Perpetual and Pendal point to elevated costs from disruption across the US service centre network and third-party providers, which weighed on earnings and created share price volatility.

What does Brambles Ltd (ASX:BXB) do?

Brambles Ltd. provides reusable supply chain logistics solutions, specializing in pallets and containers via its CHEP brand. The company operates through four segments: CHEP Americas, CHEP EMEA, CHEP Asia-Pacific, and Corporate. Operations span North America, Latin America, Europe, the Middle East, Africa, India, Australia, New Zealand, and Asia. The Corporate segment includes the BXB Digital unit. Founded in 1875 by Walter Edwin Bramble, Brambles Ltd. is headquartered in Sydney, Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

Disclaimer Terms of Use Privacy Complaints Contact

Loading…