INGHAMS GROUP LIMITED (ING)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

ING - INGHAMS GROUP LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 3.68
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

$3.10

29 Nov
2024

-0.060

OPEN

$3.16

-1.90%

HIGH

$3.16

1,243,504

LOW

$3.08

TARGET
$3.453 11.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CCL . CKF . COL . DMP . EDV . GDA . GYG . LRK . MBH . MTS . RFG . SGLLV . TSI . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
ING: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 27.3 18.9 xxx
DPS (cps) xxx 20.0 19.5 xxx
EPS Growth xxx 68.1% - 30.7% xxx
DPS Growth xxx 37.9% - 2.3% xxx
PE Ratio xxx N/A 16.4 xxx
Dividend Yield xxx N/A 6.3% xxx
Div Pay Ratio(%) xxx 73.2% 103.2% xxx

Dividend yield today if purchased 3 years ago: 5.88%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.45

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 © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx27.3
DPS All xxxxxxxxxxxxxxx20.0
Sales/Revenue xxxxxxxxxxxxxxx3,262.0 M
Book Value Per Share xxxxxxxxxxxxxxx59.1
Net Operating Cash Flow xxxxxxxxxxxxxxx388.9 M
Net Profit Margin xxxxxxxxxxxxxxx3.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx48.17 %
Return on Invested Capital xxxxxxxxxxxxxxx5.83 %
Return on Assets xxxxxxxxxxxxxxx4.08 %
Return on Equity xxxxxxxxxxxxxxx48.17 %
Return on Total Capital xxxxxxxxxxxxxxx11.15 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx145.4 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 xxxxxxxxxxxxxxx276 M
Long Term Debt xxxxxxxxxxxxxxx1,450 M
Total Debt xxxxxxxxxxxxxxx1,726 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx111 M
Price To Book Value xxxxxxxxxxxxxxx6.13

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx161.7 M
Capex % of Sales xxxxxxxxxxxxxxx4.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,641 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx395 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4 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

0.5

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

26/08/2024

3

Downgrade to Hold from Buy

$3.30

6.45%

Bell Potter highlights Inghams Group FY24 net profit came in under forecast, due to weakness in the Australian business, with pressure on volumes despite earnings per kg rising to the highest level since 2019.

The broker points to the loss of volume from the company's largest client as the Woolworths Group ((WOW)) contract re-aligns for FY25. Volume guidance is for 1%-3% growth year-on-year.

Eearnings forecasts decline by -16% for FY25 and -15% for FY26 on reduced volumes and pricing.

The stock is downgraded to Hold from Buy. Target price falls to $3.30 from $4.35.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 20.00 cents and EPS of minus -7.20 cents.
Bell Potter forecasts a full year FY26 dividend of 21.00 cents and EPS of 7.40 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

04/09/2024

5

Sell

$2.90

-6.45%

Further to the FY24 initial take, Goldman Sachs remains disappointed with the downgrade to FY25 expectations as Inghams Group's largest customer, Woolworths Group ((WOW)), looks to follow on from recent QSR customers and diversify its poultry supplier base.

The broker states the reduction in the Woolworths contracts will have volume impacts over FY25 and FY26 and signals the risk of further supplier diversification that could have outsized impacts on Inghams as a market leader amid increased price competition in the industry.

Goldman Sachs retains a Sell rating and reduces the target to $2.90 from $3.15.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 19.00 cents and EPS of 23.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 20.00 cents and EPS of 22.00 cents.
Access Extra Coverage Research History >

ING STOCK CHART

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