BIG RIVER INDUSTRIES LIMITED (BRI)
Share Price Analysis and Chart

19/02/2025

1

Buy

$1.76

37.50%

Big River Industries delivered a solid 1H25 result given the tough operating environment, with revenue and EBITDA beating Ord Minnett's forecasts by 4% and 9% respectively.

The broker highlights both revenue and profit showed sequential improvements, providing early signs a trough in the cycle may have been reached.

The broker increased FY25-27 EBITDA estimates by an average of  2.9%. Buy rating maintained. Target price lifts to $1.76 from $1.73.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 4.60 cents and EPS of 6.50 cents.
Ord Minnett forecasts a full year FY26 dividend of 7.20 cents and EPS of 10.60 cents.

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04/12/2024

3

Initiation of coverage with Hold

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Taylor Collison initiates coverage of Big River Industries with a Hold rating, with the analyst seeking a "stabilisation" in housing approvals before "committing" to the stock.

The broker highlights the acquisitive nature of the company post-IPO, with 15 companies added, contributing $210m in revenue at the time of purchase. The strategy has expanded both its geographic reach and a move into higher-margin panels to temper margin volatility.

Big River is a long-standing distributor of building materials and a major player in timber panels, including veneer, plywood, and framework. Competition from lower-cost imports has driven a shift away from low-value manufacturing to "leveraging" supplier relationships.

FORECAST
Taylor Collison forecasts a full year FY25 dividend of 2.70 cents and EPS of 5.30 cents.
Taylor Collison forecasts a full year FY26 dividend of 5.00 cents and EPS of 8.30 cents.