ORORA LIMITED (ORA)
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ORA

ORA - ORORA LIMITED

FNArena Sector : Paper & Packaging
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.63
Index: 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

$1.31

09 Jun
2026

0.060

OPEN

$1.24

4.80%

HIGH

$1.31

4,531,866

LOW

$1.24

TARGET
$1.73 32.1% upside
OTHER COMPANIES IN THE SAME SECTOR
AMC . PPG .
FNARENA'S MARKET CONSENSUS FORECASTS
ORA: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 10.8 11.0 xxx
DPS (cps) xxx 10.0 9.3 xxx
EPS Growth xxx - 27.4% 2.5% xxx
DPS Growth xxx 0.0% - 6.7% xxx
PE Ratio xxx N/A 12.3 xxx
Dividend Yield xxx N/A 6.9% xxx
Div Pay Ratio(%) xxx 92.9% 84.7% xxx

Dividend yield today if purchased 3 years ago: 3.17%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.35

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: 29/08 - (franking ex-div 5.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 23.313.120.220.514.810.8
DPS All 70.813.115.416.410.010.0
Sales/Revenue 3,566.2 M3,538.0 M4,090.8 M4,291.3 M4,697.6 M2,090.2 M
Book Value Per Share 100.082.081.288.8156.2226.3
Net Operating Cash Flow 18.9 M270.6 M257.6 M250.3 M387.6 M372.7 M
Net Profit Margin 0.77 %3.67 %4.57 %4.31 %3.94 %3.17 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 2.06 %14.41 %24.94 %24.13 %12.81 %2.65 %
Return on Invested Capital 1.29 %8.27 %12.35 %11.52 %6.11 %1.67 %
Return on Assets 0.84 %5.23 %7.24 %6.51 %4.09 %1.20 %
Return on Equity 2.06 %14.41 %24.94 %24.13 %12.81 %2.65 %
Return on Total Capital 10.12 %12.79 %17.82 %16.44 %11.13 %6.02 %
Free Cash Flow ex dividends -755.2 M100.5 M30.6 M-82.8 M-16.1 M-26.7 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 202020212022202320242025
Short-Term Debt 51 M48 M85 M204 M105 M28 M
Long Term Debt 628 M708 M821 M856 M2,313 M625 M
Total Debt 679 M756 M906 M1,060 M2,418 M653 M
Goodwill - Gross 468 M435 M469 M484 M1,131 M767 M
Cash & Equivalents - Generic 108 M51 M53 M58 M275 M257 M
Price To Book Value 2.373.794.203.461.260.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 167.5 M57.1 M92.2 M189.7 M260.8 M266.6 M
Capex % of Sales 4.70 %1.61 %2.25 %4.42 %5.55 %12.75 %
Cost of Goods Sold 2,913 M2,864 M3,318 M3,492 M3,782 M1,609 M
Selling, General & Admin. Exp & Other 435 M467 M491 M512 M561 M239 M
Research & Development ------
Investments - Total 1 M1 M1 M9 M24 M0 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

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

10/04/2026

1

Outperform

$1.90

45.04%

Middle East disruption is weighing on SaverGlass earnings, driving a cyclical low in FY26 and creating limited visibility on the timing and magnitude of recovery, according to Macquarie and remains the key uncertainty for Orora into FY27.

The analyst expects a material step-down in FY26 earnings (EBIT), down around -31% downgrade announced, reflecting direct impacts from curtailed RAK plant production, weaker volumes, and a negative mix shift towards lower-margin wine products, alongside broader spillover effects from reduced customer demand.

While the cans division remains a relative bright spot, supported by capacity expansion and inflation pass-through, near-term earnings and cash flow are pressured, with FY26 free cash flow subdued by lower earnings and working capital build.

The balance sheet remains robust, and the broker sees leverage to any de-escalation in conflict and an eventual recovery in the spirits cycle, with free cash flow expected to improve meaningfully into FY27 as growth capex unwinds.

Outperform retained. Target falls to $1.90 from $2.45 with EPS estimates lowered by -12% for FY26 and -20% to -21% for FY27/FY28, respectively.

FORECAST
Macquarie forecasts a full year FY26 dividend of 9.00 cents and EPS of 11.60 cents.
Macquarie forecasts a full year FY27 dividend of 8.00 cents and EPS of 11.80 cents.

Citi

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx, xxxx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$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

13/04/2026

3

Downgrade to Neutral from Buy

$1.80

37.40%

Jarden downgrades its rating on Orora to Neutral from Buy and lowers the target price to $1.80 from $2.60 following a significant downgrade to earnings guidance.

The broker reset its earnings assumptions across the board, with core earnings per share forecasts cut by -14% for FY26 and -28% for FY27.

This shift reflects a trading update for the Saverglass business, which is facing direct and indirect impacts from conflict in the Middle East alongside softening demand.

An additional concern is noted regarding the pause in the on-market share buyback program, which previously underpinned the growth outlook.

The broker observes that visibility for Saverglass demand remains limited and expects no near-term acceleration in earnings dynamics.

FORECAST
Jarden forecasts a full year FY26 dividend of 10.00 cents and EPS of 11.50 cents.
Jarden forecasts a full year FY27 dividend of 10.00 cents and EPS of 11.90 cents.
Access Extra Coverage Research History >

ORA STOCK CHART

FNArena News on ORA

1
Next Week At A Glance – 18-22 May 2026

May 15 2026 - Weekly Reports
2
Weekly Ratings, Targets, Forecast Changes – 17-04-26

Apr 20 2026 - Weekly Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 17-04-26

Apr 17 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Apr 13, 2026

Apr 13 2026 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 10-04-26

Apr 13 2026 - Weekly Reports

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