INGHAMS GROUP LIMITED (ING)
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ING

ING - INGHAMS GROUP LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 3.98
Index: ASX200 | ASX300 | ALL-ORDS

Inghams is Australia's number one provider of poultry food products as well as a producer of stockfeed. Founded in 1918 the family business was aquired by TPG Capital in 2014 and floated on the ASX in 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.81

25 Aug
2025

-0.020

OPEN

$2.86

-0.71%

HIGH

$2.88

8,092,650

LOW

$2.80

TARGET
$3.033

-0.60 change from previous day

 7.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . EDV . GYG . LRK . MBH . MTS . RFG . SGLLV . TSI . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
ING: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 24.2 23.2 xxx
DPS (cps) xxx 19.0 16.1 xxx
EPS Growth xxx - 11.5% - 3.9% xxx
DPS Growth xxx - 5.0% - 15.3% xxx
PE Ratio xxx N/A 12.1 xxx
Dividend Yield xxx N/A 5.7% xxx
Div Pay Ratio(%) xxx 78.6% 69.3% xxx

Dividend yield today if purchased 3 years ago: 7.04%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.71

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: 20/09 - ex-div 8c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx24.2
DPS All xxxxxxxxxxxxxxx19.0
Sales/Revenue xxxxxxxxxxxxxxx3,152.4 M
Book Value Per Share xxxxxxxxxxxxxxx74.5
Net Operating Cash Flow xxxxxxxxxxxxxxx274.3 M
Net Profit Margin xxxxxxxxxxxxxxx2.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx36.17 %
Return on Invested Capital xxxxxxxxxxxxxxx5.44 %
Return on Assets xxxxxxxxxxxxxxx3.77 %
Return on Equity xxxxxxxxxxxxxxx36.17 %
Return on Total Capital xxxxxxxxxxxxxxx11.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx99.6 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx198 M
Long Term Debt xxxxxxxxxxxxxxx1,357 M
Total Debt xxxxxxxxxxxxxxx1,555 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx106 M
Price To Book Value xxxxxxxxxxxxxxx4.76

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx104.1 M
Capex % of Sales xxxxxxxxxxxxxxx3.30 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,571 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx373 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3 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

0.0

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

25/08/2025

3

Hold

$2.75

-2.14%

Inghams Group reported FY25 profit of $95.2m, below Bell Potter’s $109.6m forecast and down -13% year-on-year. Revenue of $3,152m fell -3% against the broker’s $3,217m estimate.

Underlying earnings (EBITDA) of $392.2m were down -17% and missed the broker's forecasts. Pre-AASB16 earnings (EBITDAL) of $236.4m was in line with guidance of $236-250m.

Operating cash flow (OCF) of $122.4m compared to $160.4m in FY24, with adjusted net debt rising to $534m from $476.4m. Volumes fell -3% year-on-year and EBITDAL per kg was down -2%.

FY26 guidance implies EBITDAL of $215-230m versus the broker’s $248m, with earnings skewed to the second half. Bell Potter cuts its EBITDAL forecasts by -18% for FY26 and -10% for FY27.

The target price falls to $2.75 from $3.60. Hold rating maintained.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 13.00 cents and EPS of 20.40 cents.
Bell Potter forecasts a full year FY27 dividend of 16.00 cents and EPS of 25.10 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

Jarden

03/03/2025

2

Overweight

$3.70

31.67%

The highlight of Inghams Group's 1H25 result was the recovery of 75% of volumes lost due to the revised contract with Woolworths ((WOW)) last year, Jarden comments. 

Net profit was 3% ahead of Jarden's forecast and the company left FY25 guidance unchanged at $236-250m, with the broker positioned at midpoint.

Jarden expects Australian volumes to recover on new contract wins and growth in fast food businesses.

The analyst is forecasting 1.5% and 2.5% volume growth in Australia in FY26 and FY27 respectively. For NZ, the forecast is for 2% volume growth and steady margins.

Target price lifts to $3.70 from $3.65. Overweight maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 20.80 cents and EPS of 29.60 cents.
Access Extra Coverage Research History >

ING STOCK CHART

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