RIDLEY CORPORATION LIMITED (RIC)
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RIC - RIDLEY CORPORATION LIMITED

FNArena Sector : Agriculture
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 1.06
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.72

21 Nov
2024

0.000

OPEN

$2.72

0.000

HIGH

$2.77

105,979

LOW

$2.69

TARGET
$2.75 1.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AAC . AMN . APC . CBO . CXM . D2O . ELD . GNC . HFR . IPL . LGL . MWY . NUF . SGLLV . SHV . TFL . WLD .
FNARENA'S MARKET CONSENSUS FORECASTS
RIC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 12.6 15.0 xxx
DPS (cps) xxx 9.1 N/A xxx
EPS Growth xxx - 4.7% 18.9% xxx
DPS Growth xxx 9.7% N/A xxx
PE Ratio xxx N/A 18.4 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 71.7% N/A xxx

Dividend yield today if purchased 3 years ago: 6.80%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.28

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: 07/10 - ex-div 4.65c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx12.6
DPS All xxxxxxxxxxxxxxx9.1
Sales/Revenue xxxxxxxxxxxxxxx1,262.9 M
Book Value Per Share xxxxxxxxxxxxxxx102.3
Net Operating Cash Flow xxxxxxxxxxxxxxx105.1 M
Net Profit Margin xxxxxxxxxxxxxxx3.16 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.48 %
Return on Invested Capital xxxxxxxxxxxxxxx9.86 %
Return on Assets xxxxxxxxxxxxxxx6.22 %
Return on Equity xxxxxxxxxxxxxxx12.48 %
Return on Total Capital xxxxxxxxxxxxxxx16.19 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx47.1 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 xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx93 M
Total Debt xxxxxxxxxxxxxxx98 M
Goodwill - Gross xxxxxxxxxxxxxxx88 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx34 M
Price To Book Value xxxxxxxxxxxxxxx2.08

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx33.1 M
Capex % of Sales xxxxxxxxxxxxxxx2.62 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,147 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx50 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

22/08/2024

1

Buy

$2.75

1.10%

UBS flags the cyclical/macro-driven headwinds that have plagued Ridley Corp over the last 6-9 months amid soft poultry sector volumes, weak tallow prices and underperformce in water.

These are expected to unwind and FY25 EBITDA growth is forecast around 15%, which includes an $8m incremental contribution from the OMP acquisition.

A number of initiatives are expected to improve the organic earnings growth story in FY25 and UBS retains a Buy rating. Target is $2.75.

FORECAST
UBS forecasts a full year FY25 EPS of 15.00 cents.
UBS forecasts a full year FY26 EPS of 17.00 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Wilsons

20/11/2024

1

Overweight

$2.94

8.09%

Ridley Corporation’s AGM trading update aligned with Wilsons expectations for growth in FY25 across both the Bulk Stockfeeds and Packaged and Ingredients segments.

Growth in FY25 across these two segments is being driven by premiumisation in pet food and volume increases enabled by de-bottlenecking, notes the broker.

Recent acquisitions, including Carrick Feedmill and OMP, are progressing well, with Carrick volumes expected to grow from 12kt to 60kt per annum over the coming years, highlight the analysts.

Wilsons notes multiple earnings growth drivers, including volume growth in Bulk Stockfeeds, premiumisation in Ingredients, and increased pet food volumes, supported by strategic reinvestment.

The target price is raised to $2.94 from $2.54, reflecting a valuation roll-forward and increased confidence in sustained earnings growth, while the Overweight rating is retained.

FORECAST
Wilsons forecasts a full year FY25 dividend of 10.00 cents and EPS of 14.70 cents.
Wilsons forecasts a full year FY26 dividend of 11.00 cents and EPS of 16.40 cents.
Access Extra Coverage Research History >

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