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

$3.10

24 Mar
2025

-0.020

OPEN

$3.12

-0.64%

HIGH

$3.15

1,359,030

LOW

$3.09

TARGET
$3.527 13.8% upside
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 28.4 xxx
DPS (cps) xxx 20.0 19.6 xxx
EPS Growth xxx 68.1% 4.1% xxx
DPS Growth xxx 37.9% - 1.8% xxx
PE Ratio xxx N/A 10.9 xxx
Dividend Yield xxx N/A 6.3% xxx
Div Pay Ratio(%) xxx 73.2% 69.1% xxx

Dividend yield today if purchased 3 years ago: 6.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.41

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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Macquarie

24/02/2025

1

Outperform

$3.50

12.90%

Inghams Group has reiterated FY25 guidance, targeting a more favourable mix to support margin expansion over the medium term.

Macquarie observes the year has been well managed so far, despite disruptions, with the key being the ability to win new contracts with retail and quick service restaurant customers that offset the 75% contract volume decline with Woolworths.

Cost control has also been positive despite the disruptions and Macquarie retains an Outperform rating. Target rises to $3.50 from $3.40.

FORECAST
Macquarie forecasts a full year FY25 dividend of 18.90 cents and EPS of 28.00 cents.
Macquarie forecasts a full year FY26 dividend of 20.80 cents and EPS of 30.40 cents.

Bell Potter

xx/xx/xxxx

3

xxxx

$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

19.35%

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

FNArena News on ING

1
Australian Broker Call *Extra* Edition – Mar 03, 2025

Mar 03 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 28-02-25

Mar 03 2025 - Weekly Reports
3
FNArena Corporate Results Monitor – 24-02-2025

Feb 24 2025 - Australia
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Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
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Feb 06 2025 - Rudi's View

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