Wesfarmers Ltd (ASX: WES) shares are marching higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) conglomerate – whose retail subsidiaries include Bunnings Warehouse, Kmart Australia, Officeworks, and Priceline – closed yesterday trading for $75.80. In afternoon trade on Tuesday, shares are changing hands for $77.36 apiece, up 2.1%.
For some context, the ASX 200 is down 0.4% at this same time.
With today's intraday gains factored in, Wesfarmers shares are now up 8.4% since last Monday's close.
Despite that recent outperformance, the ASX 200 stock remains down 6.5% over the last 12 months, trailing the 3.6% one-year gains delivered by the benchmark index.
Though we shouldn't discount the two fully-franked dividends totalling $1.42 a share that Wesfarmers paid to eligible stockholders over the year. Wesfarmers trades on a 1.8% fully-franked trailing dividend yield.
Which brings us back to our headline question.
With both Wesfarmers dividends and profits on the rise over the half-year (H1 FY 2026), should you buy the ASX 200 stock today?
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Wesfarmers shares: Buy, hold, or sell?
Investor Pulse's Mark Elzayed recently analysed the outlook for Wesfarmers stock (courtesy of The Bull).
"Wesfarmers is a diversified industrial conglomerate," he said. "It owns market leading businesses, including Bunnings, Kmart and Officeworks, generating resilient earnings, even in softer economic conditions."
Explaining his current hold recommendation for Wesfarmers shares, Elzayed said:
We believe it makes sense to hold Wesfarmers given it generated net profit after tax of $1.603 billion in the first half of 2026, up 9.3% on the prior corresponding period. Revenue of $24.2 billion was up 3.1%.
Noting the increased passive income payout on the back of those half-year results, Elzayed concluded:
Bunnings and Kmart continued delivering strong sales growth. The group also lifted its fully franked interim dividend by 7.4% to $1.02 a share, highlighting confidence in cash generation and balance sheet strength.
What else did the ASX 200 stock report?
Wesfarmers shares closed down 5.6% on 19 February following the release of the company's first-half results, despite the strong profit, revenue, and dividend growth Elzayed noted above.
Commenting on what helped drive that growth, Wesfarmers managing director Rob Scott said, "Wesfarmers' increase in profit was supported by strong earnings contributions from our largest divisions – Bunnings, Kmart Group and WesCEF."
Indeed, while the company is better known for its retail assets, Wesfarmers is also engaged in lithium mining.
At the half-year results, Scott noted:
WesCEF's earnings benefited from a positive contribution from its lithium business, supported by the strong performance of the mine and concentrator and a significantly improved pricing environment later in the half.
