FONTERRA SHAREHOLDERS FUND (FSF)
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FSF

FSF - FONTERRA SHAREHOLDERS FUND

FNArena Sector : Dairy
Year End: July
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: N/A
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.71

21 Feb
2025

0.190

OPEN

$4.47

4.20%

HIGH

$4.76

60,523

LOW

$4.60

OTHER COMPANIES IN THE SAME SECTOR
A2M . BFC . BGA . BUB . NUC . NUC . SM1 . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
FSF: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 48.3 xxx
DPS (cps) 34.2 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.8 xxx
Dividend Yield 7.3% xxx
Div Pay Ratio(%) 70.9% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 14.85%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.50

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: 27/03 - ex-div 11.8c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx0.0
DPS All xxxxxxxxxxxxxxx96.9
Sales/Revenue xxxxxxxxxxxxxxx54.5 M
Book Value Per Share xxxxxxxxxxxxxxx359.0
Net Operating Cash Flow xxxxxxxxxxxxxxx104.3 M
Net Profit Margin xxxxxxxxxxxxxxx0.00 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx0.00 %
Return on Invested Capital xxxxxxxxxxxxxxx0.00 %
Return on Assets xxxxxxxxxxxxxxx0.00 %
Return on Equity xxxxxxxxxxxxxxx0.00 %
Return on Total Capital xxxxxxxxxxxxxxx0.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx49.9 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 xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx0 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx0 M
Price To Book Value xxxxxxxxxxxxxxx1.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx54 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx0 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx386 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

04/10/2024

1

Outperform

-

-

Macquarie observes Fonterra Shareholders Fund has restated the commitment on foodservice and ingredients channels with around 5% growth per annum in volumes to FY27.

Management also raised the return on capital aim to 10%-12% for FY24 to FY30 from 9%-10%. The analyst interprets this as an indication of more "sustainable earnings" from the 8.6% average from FY18-FY23.

The fund has raised the payout ratio to 60%-80% from 40%-60% due to the more robust balance sheet. Divestment of the consumer business in part or full was also flagged.

Outperform rating with a NZ$5.74 target price.

FORECAST
Macquarie forecasts a full year FY25 dividend of 34.21 cents and EPS of 48.26 cents.
Macquarie forecasts a full year FY26 dividend of 34.21 cents and EPS of 44.80 cents.
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

01/10/2024

2

Overweight

-

-

FY24 results for Fonterra Shareholders Fund were stronger-than-expected by Jarden and included lower adjusted net debt than anticipated.

The upgrade cycle continues, with management's FY25 40-60c EPS guidance range sitting above the analysts' prior 46.4c forecast, which has now increased to 53c.

Jarden expects FY25 EBIT broadly in line with the FY30 target management set three years ago at around $1.4bn.

The Overweight rating is unchanged. The broker's target rises to NZ$4.57 from NZ$4.05 on the outlook for lower debt/higher base earnings.

FORECAST
Jarden forecasts a full year FY25 dividend of 34.12 cents and EPS of 48.72 cents.
Jarden forecasts a full year FY26 dividend of 33.57 cents and EPS of 47.99 cents.
Access Extra Coverage Research History >

FSF STOCK CHART

FNArena News on FSF

1
Next Week At A Glance – 20-24 Jan 2025

Jan 17 2025 - Weekly Reports
2
Next Week At A Glance – 2-6 Dec 2024

Nov 29 2024 - Weekly Reports
3
Next Week At A Glance -18-22 Nov 2024

Nov 15 2024 - Weekly Reports
4
FNArena Corporate Results Monitor – 01-10-2024

Oct 01 2024 - Australia
5
Australian Broker Call *Extra* Edition – Oct 01, 2024

Oct 01 2024 - Daily Market Reports

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