ELDERS LIMITED (ELD)
Share Price Analysis and Chart

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ELD - ELDERS LIMITED

FNArena Sector : Agriculture
Year End: September
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 3.91
Index: ASX200 | ASX300 | ALL-ORDS

Elders is an Australian agribusiness that provides products and services to primary producers in Australia and New Zealand. With roots going back to 1839, it has been a listed entity since 1981.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.12

19 Dec
2024

-0.100

OPEN

$7.11

-1.39%

HIGH

$7.17

968,857

LOW

$7.01

TARGET
$9.43 32.4% upside
Franking for last dividend paid out: 70%
OTHER COMPANIES IN THE SAME SECTOR
AAC . AMN . APC . CBO . CXM . D2O . GNC . HFR . IPL . LGL . MWY . NUF . RIC . SGLLV . SHV . TFL . WLD .
FNARENA'S MARKET CONSENSUS FORECASTS
ELD: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 28.2 58.7 xxx
DPS (cps) xxx 35.7 37.5 xxx
EPS Growth xxx - 55.5% 100.0% xxx
DPS Growth xxx - 21.1% 5.0% xxx
PE Ratio xxx N/A 12.2 xxx
Dividend Yield xxx N/A 5.2% xxx
Div Pay Ratio(%) xxx 126.6% 63.8% xxx

Dividend yield today if purchased 3 years ago: 2.98%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.97

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: 17/12 - ex-div 18c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx28.2
DPS All xxxxxxxxxxxxxxx35.7
Sales/Revenue xxxxxxxxxxxxxxx3,131.3 M
Book Value Per Share xxxxxxxxxxxxxxx523.8
Net Operating Cash Flow xxxxxxxxxxxxxxx82.9 M
Net Profit Margin xxxxxxxxxxxxxxx1.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx5.29 %
Return on Invested Capital xxxxxxxxxxxxxxx3.97 %
Return on Assets xxxxxxxxxxxxxxx2.00 %
Return on Equity xxxxxxxxxxxxxxx5.29 %
Return on Total Capital xxxxxxxxxxxxxxx7.76 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2.2 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 xxxxxxxxxxxxxxx348 M
Long Term Debt xxxxxxxxxxxxxxx383 M
Total Debt xxxxxxxxxxxxxxx731 M
Goodwill - Gross xxxxxxxxxxxxxxx321 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx40 M
Price To Book Value xxxxxxxxxxxxxxx1.59

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx47.4 M
Capex % of Sales xxxxxxxxxxxxxxx1.51 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,508 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx510 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx66 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

0.8

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

21/11/2024

1

Add

$9.52

33.71%

Morgans views the FY24 result for Elders as "weak." After a tough 1Q24, 2H24 showed notable improvements, although the $475m acquisition of Delta Agribusiness overshadowed the period, the analyst states.

The broker believes the company is paying a "full price" for Delta, with new equity raised increasing shares on issue by over 34%, which lowers EPS accretion.

Morgans downgrades EPS forecasts by -5% to -8% for FY25-FY28 due to higher-than-expected depreciation and amortisation charges.

With an attractive dividend yield and a positive outlook for FY25, including several growth projects over the next few years, Morgans rates the stock an Add with a $9.52 target price, up from $9.50

FORECAST
Morgans forecasts a full year FY25 dividend of 35.00 cents and EPS of 58.00 cents.
Morgans forecasts a full year FY26 dividend of 45.00 cents and EPS of 75.00 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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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

Wilsons

21/11/2024

3

Market Weight

$8.38

17.70%

FY24 earnings for Elders were negatively impacted by weak livestock prices in Q1 and agchem margin contraction, notes Wilsons.

Gross profit increased by 3% year-on-year to $638m, driven by Real Estate and Wholesale, but operating cash flow of $83m was well below prior levels due to higher working capital requirements, explain the analysts.

Management announced the -$475m acquisition of Delta Agribusiness, funded by a $246m equity raise, $190m in scrip, and $110m in debt. The transaction is expected to deliver mid-single-digit EPS accretion, improving to mid-teens post-synergies.

Wilsons raises its target price to $8.38 from $8.07, reflecting the initial expected accretion from the Delta acquisition, and maintains a Market Weight rating.

FORECAST
Wilsons forecasts a full year FY25 dividend of 36.00 cents and EPS of 53.70 cents.
Wilsons forecasts a full year FY26 dividend of 36.00 cents and EPS of 55.70 cents.
Access Extra Coverage Research History >

ELD STOCK CHART

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