RIDLEY CORPORATION LIMITED (RIC)
Share Price Analysis and Chart

22/08/2025

-1

No Rating

-

Ridley Corp's second half earnings were broadly in line with consensus expectations. Ridley had provided a soft qualitative trading update in April, which was impacted by the avian flu and Cyclone Alfred, UBS notes.

In FY26, UBS  expects earnings growth in Ingredients from continued premiumisation in petfoods, stockfeeds from volume growth and fertiliser contribution with initial efficiency gains.

An FY26-28 Growth Plan is to be presented once acquisition strategy/plan is complete.

UBS is currently on research restriction.

27/08/2025

1

Overweight

$3.48

11.90%

Wilsons highlights Ridley Corp's FY25 EBITDA was 2% above its forecast, and net profit was well above on lower-than-expected tax rate.

The company didn't provide an explicit guidance for FY26 but expects earnings growth, margin upside from premiumisation of petfood, volume growth from existing and new customers, and on-track settlement in 1Q26 for Fertiliser segment.

The broker has strong conviction in Bulk and P&I segment, but trimmed FY26 net profit forecast by -16% on reduction in Fertiliser EBITDA. FY27 forecast lifted by 5%.

Overweight. Target rises to $3.48 from $3.15 (was $2.93 on February 25).

FORECAST
Wilsons forecasts a full year FY26 dividend of 10.50 cents and EPS of 15.10 cents.
Wilsons forecasts a full year FY27 dividend of 13.50 cents and EPS of 19.40 cents.