GRAINCORP LIMITED (GNC)
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GNC

GNC - GRAINCORP LIMITED

FNArena Sector : Agriculture
Year End: September
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 5.81
Index: ASX200 | ASX300 | ALL-ORDS

Graincorp is an Australian company with operations in grains and oilseeds in several countries. It also provides transport and marketing services. Originally founded in 1917, it was privatised in 1992 and listed on the ASX in 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.78

20 Feb
2025

-0.070

OPEN

$6.83

-1.02%

HIGH

$6.85

1,526,813

LOW

$6.74

TARGET
$8.67 27.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AAC . AMN . APC . CBO . CXM . D2O . ELD . HFR . IPL . LGL . NUF . RIC . SGLLV . SHV . TFL . WLD .
FNARENA'S MARKET CONSENSUS FORECASTS
GNC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 27.7 38.0 xxx
DPS (cps) xxx 38.0 36.3 xxx
EPS Growth xxx - 75.3% 37.5% xxx
DPS Growth xxx - 29.6% - 4.6% xxx
PE Ratio xxx N/A 18.3 xxx
Dividend Yield xxx N/A 5.2% xxx
Div Pay Ratio(%) xxx 137.4% 95.3% xxx

Dividend yield today if purchased 3 years ago: 4.80%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.47

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: 27/11 - ex-div 24.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx27.7
DPS All xxxxxxxxxxxxxxx38.0
Sales/Revenue xxxxxxxxxxxxxxx6,490.5 M
Book Value Per Share xxxxxxxxxxxxxxx679.4
Net Operating Cash Flow xxxxxxxxxxxxxxx130.7 M
Net Profit Margin xxxxxxxxxxxxxxx0.95 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx3.99 %
Return on Invested Capital xxxxxxxxxxxxxxx3.27 %
Return on Assets xxxxxxxxxxxxxxx1.93 %
Return on Equity xxxxxxxxxxxxxxx3.99 %
Return on Total Capital xxxxxxxxxxxxxxx1.62 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-45.1 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 xxxxxxxxxxxxxxx588 M
Long Term Debt xxxxxxxxxxxxxxx352 M
Total Debt xxxxxxxxxxxxxxx940 M
Goodwill - Gross xxxxxxxxxxxxxxx90 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx597 M
Price To Book Value xxxxxxxxxxxxxxx1.35

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx54.7 M
Capex % of Sales xxxxxxxxxxxxxxx0.84 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,314 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx134 M
Research & Development xxxxxxxxxxxxxxx0 M
Investments - Total xxxxxxxxxxxxxxx62 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

0.6

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

14/02/2025

1

Outperform

$8.76

29.20%

At its AGM, GrainCorp has provided EBITDA guidance for FY25 of $270-320m, with Macquarie's estimate now at $301m. The 2024/25 winter harvest volume was in line with expectations, although a margin increase was not forthcoming.

Elevated global grain supply has weighed on margins more than the broker expected. Beyond FY25, the 2025/26 season is firming and the winter harvest profile across the east coast appears much like 2024/25.

Macquarie reduces the target to $8.76 from $9.85, amid slightly lower through-the-cycle earnings estimates. Outperform.

FORECAST
Macquarie forecasts a full year FY25 dividend of 35.00 cents and EPS of 36.60 cents.
Macquarie forecasts a full year FY26 dividend of 44.00 cents and EPS of 45.90 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$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

17/02/2025

1

Upgrade to Overweight from Market Weight

$8.91

31.42%

Wilsons notes GrainCorp's FY25 trading update and guidance fell short of consensus forecasts, driven by lower margins. 

The company announced an intention for on-market share buy-back of up to $50m and to progress the feasibility assessment of a renewable fuels facility with MOU partners Ampol ((ALD)) and IFM investors.

The broker left FY25 earnings broadly unchanged but lowered FY26 earnings on anticipated lower volumes in agribusiness and lower margins in the nutrition and energy business.

Rating upgraded to Overweight from Market Weight. Target price $8.91.

FORECAST
Wilsons forecasts a full year FY25 dividend of 48.00 cents and EPS of 34.00 cents.
Wilsons forecasts a full year FY26 dividend of 48.00 cents and EPS of 46.90 cents.
Access Extra Coverage Research History >

GNC STOCK CHART

FNArena News on GNC

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 21-02-25

Feb 21 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Feb 17, 2025

Feb 17 2025 - Daily Market Reports
3
ESG Focus: The Little Big Things – 21-11-2024

Nov 21 2024 - ESG Focus
4
Pros & Cons From GrainCorp’s Transformation

Nov 19 2024 - Australia
5
FNArena Corporate Results Monitor – 15-11-2024

Nov 15 2024 - Australia

Latest Agriculture News

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Nov 20 2024 - Small Caps
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Pros & Cons From GrainCorp’s Transformation

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May 21 2024 - Technicals
5
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Dec 04 2023 - Australia
6
Next Week At A Glance – 27 Nov – 1 Dec 2023

Nov 24 2023 - Weekly Reports
7
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May 25 2023 - Australia
8
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May 18 2023 - Australia
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Nov 24 2022 - Small Caps