ORICA LIMITED (ORI)
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ORI - ORICA LIMITED

FNArena Sector : Mining Sector Contracting
Year End: September
GICS Industry Group : Materials
Debt/EBITDA: 2.15
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Orica is an Australian multinational company that is one of the world's largest providers of commercial explosives and blasting systems to the mining, quarrying, oil and gas and construction industry.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$17.39

19 Dec
2024

-0.150

OPEN

$17.30

-0.86%

HIGH

$17.39

1,574,372

LOW

$17.10

TARGET
$20.80 19.6% upside
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . CDD . DOW . EHL . GNG . IMD . IPG . IPL . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . PRN . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
ORI: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 110.7 99.9 xxx
DPS (cps) xxx 47.0 53.5 xxx
EPS Growth xxx 70.1% - 9.8% xxx
DPS Growth xxx 9.3% 13.8% xxx
PE Ratio xxx N/A 16.8 xxx
Dividend Yield xxx N/A 3.2% xxx
Div Pay Ratio(%) xxx 42.4% 53.6% xxx

Dividend yield today if purchased 3 years ago: 3.42%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.80

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: 22/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx110.7
DPS All xxxxxxxxxxxxxxx47.0
Sales/Revenue xxxxxxxxxxxxxxx7,662.8 M
Book Value Per Share xxxxxxxxxxxxxxx915.6
Net Operating Cash Flow xxxxxxxxxxxxxxx807.5 M
Net Profit Margin xxxxxxxxxxxxxxx6.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.42 %
Return on Invested Capital xxxxxxxxxxxxxxx8.01 %
Return on Assets xxxxxxxxxxxxxxx5.62 %
Return on Equity xxxxxxxxxxxxxxx12.42 %
Return on Total Capital xxxxxxxxxxxxxxx10.82 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx202.2 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 xxxxxxxxxxxxxxx169 M
Long Term Debt xxxxxxxxxxxxxxx2,352 M
Total Debt xxxxxxxxxxxxxxx2,521 M
Goodwill - Gross xxxxxxxxxxxxxxx2,534 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx581 M
Price To Book Value xxxxxxxxxxxxxxx2.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx456.4 M
Capex % of Sales xxxxxxxxxxxxxxx5.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,322 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx610 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx321 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

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Citi

15/11/2024

3

Neutral

$19.00

9.26%

Citi retains its $19 target and Neutral rating for Orica after fully updating for yesterday's FY24 result.

Yesterday's Broker Call summary: Orica's FY24 results revealed EBIT in line with forecasts by Citi and consensus, while revenue missed the broker’s forecast by -7%, and the EBITDA margin beat by 1%. Profit of $409.4m met consensus expectations.

Management expects earnings to increase in FY25 compared to FY24.

The broker’s initial reaction is positive, viewing the results as "solid" and the FY25 outlook as aligning with growth expectations. A final unfranked dividend of 28c for FY24, representing a 59% payout ratio, is 1c above the analyst's forecast.

FORECAST
Citi forecasts a full year FY25 dividend of 54.00 cents and EPS of 97.00 cents.
Citi forecasts a full year FY26 dividend of 66.80 cents and EPS of 120.10 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

20/11/2024

1

Buy

$21.40

23.06%

Orica reported FY24 underlying profit of $409m, 2% ahead of Goldman Sachs' estimate, with Blasting Solutions earnings (EBIT) exceeding expectations by 4%, supported by strong APAC results offsetting North American weakness.

On the back of the largest plant turnaround in the company’s history, profitability per tonne improved by 15%, driven by favourable mix and volume contributions, notes the broker. Goldman Sachs forecasts earnings per tonne growth of 10% in FY25.

Management announced a FY24 dividend of 47c, up 9% year-on-year, and flagged a capital framework review as the company transitions from its M&A cycle to focus on de-leveraging or other capital management initiatives.

Goldman Sachs retains a Buy rating and maintains the target price at $21.40.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 51.00 cents and EPS of 101.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 58.00 cents and EPS of 115.00 cents.
Access Extra Coverage Research History >

ORI STOCK CHART

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