INGHAMS GROUP LIMITED (ING)
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ING

ING - INGHAMS GROUP LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 3.68
Index: ASX200 | ASX300 | ALL-ORDS

Inghams is Australia's number one provider of poultry food products as well as a producer of stockfeed. Founded in 1918 the family business was aquired by TPG Capital in 2014 and floated on the ASX in 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.77

05 Jun
2025

0.000

OPEN

$3.78

0.000

HIGH

$3.80

838,490

LOW

$3.75

TARGET
$3.583 -5.0% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . EDV . GYG . LRK . MBH . MTS . RFG . SGLLV . TSI . TWE . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
ING: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 27.3 28.1 xxx
DPS (cps) xxx 20.0 18.7 xxx
EPS Growth xxx 68.1% 3.0% xxx
DPS Growth xxx 37.9% - 6.4% xxx
PE Ratio xxx N/A 13.3 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx 73.2% 66.6% xxx

Dividend yield today if purchased 3 years ago: 6.90%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.33

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: 20/09 - ex-div 8c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx27.3
DPS All xxxxxxxxxxxxxxx20.0
Sales/Revenue xxxxxxxxxxxxxxx3,262.0 M
Book Value Per Share xxxxxxxxxxxxxxx59.1
Net Operating Cash Flow xxxxxxxxxxxxxxx388.9 M
Net Profit Margin xxxxxxxxxxxxxxx3.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx48.17 %
Return on Invested Capital xxxxxxxxxxxxxxx5.83 %
Return on Assets xxxxxxxxxxxxxxx4.08 %
Return on Equity xxxxxxxxxxxxxxx48.17 %
Return on Total Capital xxxxxxxxxxxxxxx11.15 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx145.4 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 xxxxxxxxxxxxxxx276 M
Long Term Debt xxxxxxxxxxxxxxx1,450 M
Total Debt xxxxxxxxxxxxxxx1,726 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx111 M
Price To Book Value xxxxxxxxxxxxxxx6.13

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx161.7 M
Capex % of Sales xxxxxxxxxxxxxxx4.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,641 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx395 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4 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

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

24/02/2025

3

Downgrade to Hold from Add

$3.58

-5.04%

As expected by Morgans, Inghams Group reported a weak 1H, in line with expectations, as it cycled a record prior period.

The broker highlights cost-of-living pressures affecting out-of-home consumption, though FY25 guidance was reaffirmed, implying earnings growth in H2.

Uncertainty remains over FY26 earnings as the Woolworth Group ((WOW)) contract has not been fully replaced, though Morgans acknowledges management has made progress.

With limited near-term catalysts and less than 10% upside to the new target of $3.58, down from $3.66, the broker sees the stock lacking momentum. The rating is downgraded to Hold from Add.

FORECAST
Morgans forecasts a full year FY25 dividend of 20.00 cents and EPS of 28.00 cents.
Morgans forecasts a full year FY26 dividend of 19.00 cents and EPS of 27.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$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

Jarden

03/03/2025

2

Overweight

$3.70

-1.86%

The highlight of Inghams Group's 1H25 result was the recovery of 75% of volumes lost due to the revised contract with Woolworths ((WOW)) last year, Jarden comments. 

Net profit was 3% ahead of Jarden's forecast and the company left FY25 guidance unchanged at $236-250m, with the broker positioned at midpoint.

Jarden expects Australian volumes to recover on new contract wins and growth in fast food businesses.

The analyst is forecasting 1.5% and 2.5% volume growth in Australia in FY26 and FY27 respectively. For NZ, the forecast is for 2% volume growth and steady margins.

Target price lifts to $3.70 from $3.65. Overweight maintained.

FORECAST
Jarden forecasts a full year FY25 dividend of 20.40 cents and EPS of 28.30 cents.
Jarden forecasts a full year FY26 dividend of 20.80 cents and EPS of 29.60 cents.
Access Extra Coverage Research History >

ING STOCK CHART

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