ORICA LIMITED (ORI)
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ORI

ORI - ORICA LIMITED

FNArena Sector : Mining Sector Contracting
Year End: September
GICS Industry Group : Materials
Debt/EBITDA: 2.15
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Orica is an Australian multinational company that is one of the world's largest providers of commercial explosives and blasting systems to the mining, quarrying, oil and gas and construction industry.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$18.09

13 May
2025

0.110

OPEN

$18.27

0.61%

HIGH

$18.41

2,002,738

LOW

$17.98

TARGET
$21.805 20.5% upside
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . PRN . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
ORI: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 110.7 106.8 xxx
DPS (cps) xxx 47.0 56.2 xxx
EPS Growth xxx 70.1% - 3.6% xxx
DPS Growth xxx 9.3% 19.6% xxx
PE Ratio xxx N/A 17.4 xxx
Dividend Yield xxx N/A 3.0% xxx
Div Pay Ratio(%) xxx 42.4% 52.7% xxx

Dividend yield today if purchased 3 years ago: 2.87%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.54

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 22/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx110.7
DPS All xxxxxxxxxxxxxxx47.0
Sales/Revenue xxxxxxxxxxxxxxx7,662.8 M
Book Value Per Share xxxxxxxxxxxxxxx915.6
Net Operating Cash Flow xxxxxxxxxxxxxxx807.5 M
Net Profit Margin xxxxxxxxxxxxxxx6.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.42 %
Return on Invested Capital xxxxxxxxxxxxxxx8.01 %
Return on Assets xxxxxxxxxxxxxxx5.62 %
Return on Equity xxxxxxxxxxxxxxx12.42 %
Return on Total Capital xxxxxxxxxxxxxxx10.82 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx202.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx169 M
Long Term Debt xxxxxxxxxxxxxxx2,352 M
Total Debt xxxxxxxxxxxxxxx2,521 M
Goodwill - Gross xxxxxxxxxxxxxxx2,534 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx581 M
Price To Book Value xxxxxxxxxxxxxxx2.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx456.4 M
Capex % of Sales xxxxxxxxxxxxxxx5.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,322 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx610 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx321 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

09/05/2025

1

Buy

$22.00

21.61%

UBS maintains a Buy rating on Orica and keeps the price target unchanged at $22. The 1H25 result is labelled as "strong", with EPS up 33%, 10% ahead of consensus.

Identified drivers include a better-than-expected APAC result, re-pricing in ammonium nitrate, rising demand for blasting technology, and a one-off carbon credit sale.

The company reiterated guidance for FY25 EBIT growth of circa 20% and pointed to multiple drivers supporting ongoing growth into FY26, including Cyanco integration and increased NaCN output.

UBS forecasts FY25 EPS of 103c, rising to 112c in FY26 and 121c in FY27, with no changes to estimates.

The broker highlights a sustainable double-digit EPS growth outlook and notes further upside from a $400m buy-back supporting re-rating potential.

FORECAST
UBS forecasts a full year FY25 dividend of 54.00 cents and EPS of 103.00 cents.
UBS forecasts a full year FY26 dividend of 59.00 cents and EPS of 112.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

17/03/2025

1

Buy

$21.50

18.85%

Goldman Sachs believes a $400m buyback and a revised financial framework signals a consolidation phase for Orica, following multiple acquisitions.

The broker now sees potential for EPS leverage, which has been previously constrained despite strong EBIT growth, forecasting 23% EPS growth in FY25 as acquisitions contribute fully.

Blasting Solutions profitability should improve, according to the analysts, driven by premium product adoption and new technologies like WebGen and Fortis Protect.

For Specialty Chemicals, Goldman anticipates $59m EBITDA growth in FY25, mainly from the Cyanco acquisition, while Digital Solutions EBITDA are expected to grow 36%, benefiting from the Terra Insights acquisition.

The target rises to $21.50 from $21.40. Buy.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 53.00 cents and EPS of 106.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 60.00 cents and EPS of 120.00 cents.
Access Extra Coverage Research History >

ORI STOCK CHART

FNArena News on ORI

1
Rudi’s View: Awaiting The Real World Ramifications (continued)

May 14 2025 - Rudi's View
2
Australian Broker Call *Extra* Edition – May 13, 2025

May 13 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 09-05-25

May 12 2025 - Weekly Reports
4
FNArena Corporate Results Monitor – 09-05-2025

May 09 2025 - Australia
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 09-05-25

May 09 2025 - Weekly Reports

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