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

$4.57

26 Mar
2025

0.000

OPEN

$4.57

0.000

HIGH

$4.57

0

LOW

$4.57

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) 58.7 xxx
DPS (cps) 41.4 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 7.8 xxx
Dividend Yield 9.1% xxx
Div Pay Ratio(%) 70.5% 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: 15.60%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.96

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

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

24/02/2025

1

Buy

-

-

UBS analysts have maintained a Buy rating on Fonterra Shareholders' Fund, raising the price target to NZ$5.95 from NZ$5.20.

Financial forecasts have been upgraded, with FY25, FY26, and FY27 EPS estimates lifted by 13%, 21%, and 18%, respectively, reflecting stronger Ingredient margins and a higher dividend payout ratio of 65%.

The company increased its FY25 normalised EPS guidance to the upper half of the NZ$0.40-0.60 range, supported by 2% growth in milk collection and a shift towards high-value Ingredient products.

The broker sees additional upside from a potential Consumer business sale, which could add NZ$0.35-0.65 per share.

FORECAST
UBS forecasts a full year FY25 dividend of 35.50 cents and EPS of 54.62 cents.
UBS forecasts a full year FY26 dividend of 30.95 cents and EPS of 47.34 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

12/03/2025

2

Overweight

-

-

Fonterra Shareholders Fund upgraded EPS guidance for FY25 to NZ55-75c from NZ40-60c which compared with Jarden's previous forecast of NZ53.4c. The broker notes an improved outlook for milk prices likely drove the company's upgrade.

The broker lifted the FY25 forecast to NZ63.8c and left FY26-27 largely unchanged. 

Target price rises to NZ$5.19 from NZ$4.57. Overweight maintained.

FORECAST
Jarden forecasts a full year FY25 dividend of 40.69 cents and EPS of 58.08 cents.
Jarden forecasts a full year FY26 dividend of 34.05 cents and EPS of 48.61 cents.
Access Extra Coverage Research History >

FSF STOCK CHART

FNArena News on FSF

1
Next Week At A Glance – 17-21 Mar 2025

Mar 14 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Mar 12, 2025

Mar 12 2025 - Daily Market Reports
3
Next Week At A Glance – 20-24 Jan 2025

Jan 17 2025 - Weekly Reports
4
Next Week At A Glance – 2-6 Dec 2024

Nov 29 2024 - Weekly Reports
5
Next Week At A Glance -18-22 Nov 2024

Nov 15 2024 - Weekly Reports

Latest Dairy News

1
A2 Milks It

Feb 18 2025 - Australia
2
a2 Milk Starts Paying Dividends

Nov 27 2024 - Australia
3
Buy Call For a2 Milk

Mar 21 2024 - Technicals
4
A2 Milking It

Feb 21 2024 - Australia
5
Treasure Chest: Bega Cheese

Oct 18 2022 - Treasure Chest
6
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
7
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
8
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
9
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
10
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia