ORICA LIMITED (ORI)
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ORI

ORI - ORICA LIMITED

FNArena Sector : Mining Sector Contracting
Year End: September
GICS Industry Group : Materials
Debt/EBITDA: 2.16
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

$24.05

01 Jul
2026

0.370

OPEN

$23.93

1.56%

HIGH

$24.58

1,207,385

LOW

$23.86

TARGET
$26.266 9.2% upside
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . PRN . RAN . RCR . SGH . SRG . SXE . TEA . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
ORI: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 33.5 122.1 xxx
DPS (cps) xxx 57.0 62.3 xxx
EPS Growth xxx - 69.7% 100.0% xxx
DPS Growth xxx 21.3% 9.4% xxx
PE Ratio xxx N/A 19.5 xxx
Dividend Yield xxx N/A 2.6% xxx
Div Pay Ratio(%) xxx 169.9% 51.0% xxx

Dividend yield today if purchased 3 years ago: 3.84%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.39

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: 21/11 - (franking ex-div 32c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx33.5
DPS All xxxxxxxxxxxxxxx57.0
Sales/Revenue xxxxxxxxxxxxxxx8,144.5 M
Book Value Per Share xxxxxxxxxxxxxxx891.3
Net Operating Cash Flow xxxxxxxxxxxxxxx949.2 M
Net Profit Margin xxxxxxxxxxxxxxx1.99 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx3.76 %
Return on Invested Capital xxxxxxxxxxxxxxx2.36 %
Return on Assets xxxxxxxxxxxxxxx1.63 %
Return on Equity xxxxxxxxxxxxxxx3.76 %
Return on Total Capital xxxxxxxxxxxxxxx12.38 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx312.7 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 xxxxxxxxxxxxxxx209 M
Long Term Debt xxxxxxxxxxxxxxx2,796 M
Total Debt xxxxxxxxxxxxxxx3,005 M
Goodwill - Gross xxxxxxxxxxxxxxx2,595 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx747 M
Price To Book Value xxxxxxxxxxxxxxx2.37

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx414.5 M
Capex % of Sales xxxxxxxxxxxxxxx5.09 %
Cost of Goods Sold xxxxxxxxxxxxxxx6,590 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx667 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx365 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

1.0

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

08/05/2026

1

Overweight

$28.00

16.42%

Orica reported a better-than-feared first half result, Morgan Stanley reports, with earnings beating consensus by 3%, driven by higher margins, more than offsetting revenue weakness (-4% miss).

The FY26 outlook is unchanged, with "EBIT growth expected across all segments and all regions".

North American margins should normalise as US ammonium nitrate supply diversifies, Morgan Stanley suggests, Middle East impacts remain manageable, and faster-growing Digital and Specialty Chemicals continue to lift earnings quality and resilience.

The broker's Overweight rating reflects robust near-term demand in mining end-markets, while longer-term Morgan Stanley sees upside from Orica's dominant market position, continued penetration of value-added products, and growth optionality.

Target rises to $28 from $27.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 63.00 cents and EPS of 124.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 71.00 cents and EPS of 137.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$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

11/05/2026

2

Overweight

$26.00

8.11%

Jarden maintains an Overweight rating for Orica and raises the target price to $26.00 from $24.20 following an in-line first-half result supported by lower global support costs.

The broker notes underlying earnings of $512m slightly beat consensus, driven by strong performance in the Digital Solutions and Specialty Chemicals divisions alongside margin benefits from the transformative Cyanco acquisition.

Reduced disclosure across the Blasting Solutions business introduces some forecasting risk, but management expects a $100m group-wide efficiency program to significantly boost earnings margins through the second half.

Reflecting altered global peer multiples and minor adjustments to near-term blasting volumes, the report lowers earnings per share forecasts to 122.9c from 125.1c in FY26, and increases expectations to 132.3c from 129.1c in FY27.

FORECAST
Jarden forecasts a full year FY26 dividend of 63.50 cents and EPS of 122.90 cents.
Jarden forecasts a full year FY27 dividend of 80.30 cents and EPS of 132.30 cents.
Access Extra Coverage Research History >

ORI STOCK CHART

FNArena News on ORI

1
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Jul 02 2026 - Rudi's View
2
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May 21 2026 - Rudi's View
4
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5
Mining, Value-adds Underpin Orica’s Outlook

May 12 2026 - Australia

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