UNITED MALT GROUP LIMITED (UMG)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

UMG - UNITED MALT GROUP LIMITED

FNArena Sector : Agriculture
Year End: September
GICS Industry Group : Food, Beverage & Tobacco
Index: ASX200 | ASX300 | ALL-ORDS

United Malt Group is a commercial maltster with 13 processing plants in North America, Australia and the UK. It was acquired by GrainCorp in 2009 and de-merged and listed on the ASX in 2020.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.33

05 Dec
2022

-0.070

OPEN

$3.39

-2.06%

HIGH

$3.41

706,911

LOW

$3.31

TARGET
$3.83 15.0% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
CGC . ELD . GNC . IPL . NUF . RHL . RIC . SHV . TFC . APC . AAC . MWY . MRG . NAM . AMN . WLD . CBO . SGL . SGLLV . D2O . TFL . HFR . LGL .
FNARENA'S MARKET CONSENSUS FORECASTS
UMG: 1
Title FY21
Actual		 FY22
Actual		 FY23
Forecast		 FY24
Forecast
EPS (cps) xxx 3.9 10.1 xxx
DPS (cps) xxx 0.0 3.0 xxx
EPS Growth xxx - 15.8% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 33.0 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx 0.0% 30.1% xxx

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

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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: 01/06 - ex-div 1.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx3.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,406.7 M
Book Value Per Share xxxxxxxxxxxxxxx365.1
Net Operating Cash Flow xxxxxxxxxxxxxxx46.6 M
Net Profit Margin xxxxxxxxxxxxxxx0.82 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx1.07 %
Return on Invested Capital xxxxxxxxxxxxxxx0.77 %
Return on Assets xxxxxxxxxxxxxxx0.55 %
Return on Equity xxxxxxxxxxxxxxx1.07 %
Return on Total Capital xxxxxxxxxxxxxxx1.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-59.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Credit Suisse

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

16/11/2022

1

Outperform

$3.99

19.82%

United Malt Group's FY22 full-year result met guidance and Macquarie's forecasts, and management reiterated August guidance for a sharp increase in FY23 earnings and outer years.

The broker increases its earnings (EBITDA) forecast, noting a good percentage of FY23 business is already booked.

Macquarie also spies a full-year reversal of the crop impost; improved customer pricing and terms; transformation benefits; a better sales mix; and the contribution of a full-year run rate from the Scottish distillery.

The balance sheet looks less attractive but management expects gearing will revert to the company's target range by FY23.

On the downside, higher-than-forecast interest costs trigger a cut in EPS forecasts of -32% in FY23; -18% in FY24; and -13% in FY25.

Outperform rating retained. Target price rises to $3.99 from $3.85.

FORECAST
Macquarie forecasts a full year FY23 dividend of 4.10 cents and EPS of 10.30 cents.
Macquarie forecasts a full year FY24 dividend of 14.20 cents and EPS of 23.70 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >

UMG STOCK CHART

FNArena News on UMG

1
ESG Focus: Takeaways From COP27

Dec 05 2022 - ESG Focus
2
Rudi’s View: Preparing For Bear Phase II

Nov 24 2022 - Rudi's View
3
United Malt Guides To Better Times Ahead

Nov 23 2022 - Small Caps
4
Australian Broker Call *Extra* Edition – Nov 23, 2022

Nov 23 2022 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Nov 22, 2022

Nov 22 2022 - Daily Market Reports

Latest Agriculture News

1
Headwinds Linger for Select Harvests

Nov 24 2022 - Small Caps
2
United Malt Guides To Better Times Ahead

Nov 23 2022 - Small Caps
3
Nufarm Confident About Continued Growth

Nov 22 2022 - Small Caps
4
Waggaman Review Delays Incitec Pivot’s Split

Nov 17 2022 - Australia
5
Elders’ Confidence Relies On Acquisition

Nov 16 2022 - Small Caps
6
GrainCorp Looks Long-Term to Deliver Growth

Jun 28 2022 - Australia
7
Get Ready For Extreme Heat And Its Effects On Crops, Lives

Jun 06 2022 - ESG Focus
8
Elders: Good And (Still) Getting Better

May 24 2022 - Australia
9
Brokers Tip Better Brew for United Malt in FY23

May 18 2022 - Australia
10
GrainCorp Makes Hay As The Rain Falls

May 12 2022 - Australia