COBRAM ESTATE OLIVES LIMITED (CBO)
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CBO - COBRAM ESTATE OLIVES LIMITED

FNArena Sector : Agriculture
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: N/A
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.30

22 Sep
2023

-0.050

OPEN

$1.31

-3.70%

HIGH

$1.36

84,432

LOW

$1.30

TARGET
$1.655 27.3% upside
OTHER COMPANIES IN THE SAME SECTOR
AAC . AMN . APC . CGC . D2O . ELD . GNC . HFR . IPL . LGL . MWY . NAM . NUF . RIC . SGLLV . SHV . TFL . UMG . WLD .
FNARENA'S MARKET CONSENSUS FORECASTS
CBO: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx N/A 1.6 xxx
DPS (cps) xxx N/A 3.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 81.3 xxx
Dividend Yield xxx N/A 2.5% xxx
Div Pay Ratio(%) xxx N/A 206.2% xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 2019202020212022
EPS Basic xxxxxxxxx-0.2
DPS All xxxxxxxxx3.3
Sales/Revenue xxxxxxxxx139.6 M
Book Value Per Share xxxxxxxxx69.2
Net Operating Cash Flow xxxxxxxxx27.4 M
Net Profit Margin xxxxxxxxx-0.50 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 2019202020212022
Return on Capital Employed xxxxxxxxx-0.29 %
Return on Invested Capital xxxxxxxxx-0.18 %
Return on Assets xxxxxxxxx-0.14 %
Return on Equity xxxxxxxxx-0.29 %
Return on Total Capital xxxxxxxxx-4.53 %
Free Cash Flow ex dividends xxxxxxxxx-20.9 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 2019202020212022
Short-Term Debt xxxxxxxxx4 M
Long Term Debt xxxxxxxxx143 M
Total Debt xxxxxxxxx147 M
Goodwill - Gross xxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxx6 M
Price To Book Value xxxxxxxxx2.11

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 2019202020212022
Capex xxxxxxxxx36.7 M
Capex % of Sales xxxxxxxxx26.29 %
Cost of Goods Sold xxxxxxxxx123 M
Selling, General & Admin. Exp & Other xxxxxxxxx35 M
Research & Development xxxxxxxxx-
Investments - Total xxxxxxxxx5 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

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

28/08/2023

1

Buy

$1.70

30.77%

Cobram Estate Olives reported FY23 underlying earnings broadly in line with Bell Potter's expectations.

The outlook for sales remains positive heading into FY24 in both the US and Australia, management noted. Despite the lower than expected FY23 crop, Cobram has sufficient oil inventories to meet sales plans. But the FY24 US harvest is expected to be materially higher than FY23.

Bell Potter does not see the current share price as reflecting the inbuilt value upside of the farming and processing assets (with orchard
maturity at 61% in Australia and 10% in the US) and the inbuilt growth that is likely to emerge in the brand as company-owned and third party oil production lifts.

Buy retained, target falls to $1.70 from $1.75.

FORECAST
Bell Potter forecasts a full year FY24 dividend of 3.30 cents and EPS of 0.70 cents.
Bell Potter forecasts a full year FY25 dividend of 3.30 cents and EPS of 11.90 cents.
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CBO STOCK CHART

FNArena News on CBO

1
FNArena Corporate Results Monitor – 28-08-2023

Aug 28 2023 - Australia
2
Australian Broker Call *Extra* Edition – Mar 08, 2023

Mar 08 2023 - Daily Market Reports
3
FNArena Corporate Results Monitor – 27-02-2023

Feb 27 2023 - Australia
4
Australian Broker Call *Extra* Edition – Dec 15, 2022

Dec 15 2022 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Sep 06, 2022

Sep 06 2022 - Daily Market Reports

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