ORORA LIMITED (ORA)
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ORA

ORA - ORORA LIMITED

FNArena Sector : Paper & Packaging
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 4.26
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Orora is an Australian manufacturer of flexible and rigid packaging and visual communication solutions with operations in Australia, Asia and North America. It listed in 2013 following a de-merger from Amcor.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.815

13 Jun
2025

-0.005

OPEN

$1.82

-0.27%

HIGH

$1.83

3,076,229

LOW

$1.80

TARGET
$2.195 20.9% upside
OTHER COMPANIES IN THE SAME SECTOR
AMC . PGH . PPG .
FNARENA'S MARKET CONSENSUS FORECASTS
ORA: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 14.8 11.1 xxx
DPS (cps) xxx 10.0 9.6 xxx
EPS Growth xxx - 27.6% - 24.9% xxx
DPS Growth xxx - 38.8% - 4.2% xxx
PE Ratio xxx N/A 16.3 xxx
Dividend Yield xxx N/A 5.3% xxx
Div Pay Ratio(%) xxx 67.4% 86.0% xxx

Dividend yield today if purchased 3 years ago: 2.76%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.51

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: 30/08 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx14.8
DPS All xxxxxxxxxxxxxxx10.0
Sales/Revenue xxxxxxxxxxxxxxx4,697.6 M
Book Value Per Share xxxxxxxxxxxxxxx156.2
Net Operating Cash Flow xxxxxxxxxxxxxxx387.6 M
Net Profit Margin xxxxxxxxxxxxxxx3.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.81 %
Return on Invested Capital xxxxxxxxxxxxxxx6.11 %
Return on Assets xxxxxxxxxxxxxxx4.09 %
Return on Equity xxxxxxxxxxxxxxx12.81 %
Return on Total Capital xxxxxxxxxxxxxxx11.13 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-16.1 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 xxxxxxxxxxxxxxx105 M
Long Term Debt xxxxxxxxxxxxxxx2,313 M
Total Debt xxxxxxxxxxxxxxx2,418 M
Goodwill - Gross xxxxxxxxxxxxxxx1,131 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx275 M
Price To Book Value xxxxxxxxxxxxxxx1.26

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx260.8 M
Capex % of Sales xxxxxxxxxxxxxxx5.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,782 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx561 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx24 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

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

16/05/2025

1

Overweight

$2.30

(27/05/2025)

26.72%

Orora’s trading update highlights to Morgan Stanley a still challenging environment, with overall group guidance now pointing to a mid single-digit earnings (EBIT) downgrade for H2 and a low single-digit downgrade for FY25.

The broker notes Saverglass is the key point of difference, with expectations shifting from growth to being in line with the prior year. This change is largely due to a mix shift toward lower-margin wine and champagne categories, explain the analysts.

While Saverglass' order trends have improved, the broker highlights they have yet to deliver meaningful sales growth due to the typical 4-6 month lead time.

Australian commercial wine volumes remain structurally challenged, Morgan Stanley notes, with 2H25 Gawler volumes expected to be broadly in line with the prior period.

While Orora is well positioned for a recovery, the broker sees limited clear signs of a near-term pick-up and expects the market may wait for more tangible evidence. The broker remains Overweight. Target $2.50. Industry view: In Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 8.00 cents and EPS of 12.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 9.00 cents and EPS of 15.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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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

20/05/2025

2

Overweight

$2.35

29.48%

Jarden maintains an Overweight rating on Orora but lowers the target price to $2.35 from $2.40 following continued weakness in Saverglass and Gawler operations.

Volatility in premium glass markets, restructuring impacts, and higher non-cash costs are weighing on earnings, note the analysts, while the Cans division remains a bright spot, returning to mid single-digit volume growth.

FY25 capex guidance has been reduced to -$285-295m, though Jarden notes spend is expected to increase in FY26 as deferred projects, such as Rocklea Cans, are executed.

Jarden expects a -$350m on-market buyback in FY26, supported by low gearing. 

FORECAST
Jarden forecasts a full year FY25 dividend of 9.60 cents and EPS of 10.90 cents.
Jarden forecasts a full year FY26 dividend of 10.00 cents and EPS of 14.20 cents.
Access Extra Coverage Research History >

ORA STOCK CHART

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Latest Paper & Packaging News

1
Amcor Confident In Berry On Top

Feb 07 2025 - Australia
2
The Drinks Are On Orora

Sep 09 2024 - Australia
3
Orora Awaiting The End Of Destocking

Apr 24 2024 - Australia
4
Destocking Remains Amcor’s Hobgoblin

Feb 08 2024 - Australia
5
Two Quality Stocks For When The Tide Goes Out

Jul 22 2022 - Australia
6
Orora Packing a Punch With Growth Initiatives

May 04 2022 - Australia
7
Despite Constraints, Amcor Remains Resilient

Nov 04 2021 - Australia
8
Will Cost Pressures Surface At Amcor?

May 06 2021 - Australia
9
Amcor Sets The Stage For Further M&A

Feb 04 2021 - Australia
10
Confidence Increases Around Amcor

Nov 09 2020 - Australia