INGHAMS GROUP LIMITED (ING)
Share Price Analysis and Chart

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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

$2.76

01 Sep
2025

0.050

OPEN

$2.73

1.85%

HIGH

$2.79

2,282,245

LOW

$2.72

TARGET
$3.033 9.9% 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 11.9 xxx
Dividend Yield xxx N/A 5.8% xxx
Div Pay Ratio(%) xxx 78.6% 69.3% xxx

Dividend yield today if purchased 3 years ago: 7.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.01

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

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

25/08/2025

3

Neutral

$2.70

-2.17%

Although Inghams Group reported a strong NZ FY25 result with underlying earnings (EBITDA) of circa $53m, which beat Macquarie's forecast by 22% and consensus by 13% due to better cost management, the FY26 guidance came in well below expectations.

FY25 underlying earnings (EBITDA) slightly missed the analyst and consensus, resulting from a deterioration in the Australian market.

The group has set FY26 underlying earnings (EBITDA) at $215m-$230m, lower by around -7% to -13% to prior estimates, or -10% at the midpoint.

Leverage rose by 0.3x over FY25 to 1.8x due to a lift in net debt from the Bostock acquisition.

Macquarie lowers its EPS forecasts by -21% and -23% for FY26/FY27. No change to Neutral rating. Target falls -27% to $2.70.

FORECAST
Macquarie forecasts a full year FY26 dividend of 15.40 cents and EPS of 22.50 cents.
Macquarie forecasts a full year FY27 dividend of 16.00 cents and EPS of 23.40 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

28/08/2025

3

Downgrade to Neutral from Overweight

$2.90

5.07%

Jarden downgrades Inghams Group to Neutral from Overweight and cuts the 12-month target price to $2.90 from $3.70 after a weak FY25 and a softer FY26 set-up.

FY25 disappointed with 2H EBITDA circa -8% below consensus as Q4 slowed on industry over-supply, customers down-trading and inventory clearance; pressures likely persist into 1H26, guidance implies a heavy 2H26 skew, and a $60–80m cost-out programme is underway.

Forecasts change: FY26 EBITDA (pre-AASB 16) is cut circa -15% to $218.5m (within $215–230m guidance) with top-line trimmed -5% across three years; EPS now 17.1c/23.8c/25.8c for 2026-28.

The broker sees a well-run business but near-term risks from competition and a rival’s FY26/27 expansion, seeking improving pricing and clarity on Baida-related volumes before turning more positive.

FORECAST
Jarden forecasts a full year FY26 dividend of 16.80 cents and EPS of 17.10 cents.
Jarden forecasts a full year FY27 dividend of 18.20 cents and EPS of 23.80 cents.
Access Extra Coverage Research History >

ING STOCK CHART

FNArena News on ING

1
Weekly Ratings, Targets, Forecast Changes – 29-08-25

Sep 01 2025 - Weekly Reports
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 29-08-25

Aug 29 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Aug 28, 2025

Aug 28 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 25-08-2025

Aug 25 2025 - Australia
5
Weekly Ratings, Targets, Forecast Changes – 25-07-25

Jul 28 2025 - Weekly Reports

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