BEGA CHEESE LIMITED (BGA)
Share Price Analysis and Chart

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BGA - BEGA CHEESE LIMITED

FNArena Sector : Dairy
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 4.25
Index: ASX200 | ASX300 | ALL-ORDS

Bega Cheese is an Australian food company specialising in dairy products and spreads. Founded in 1899 as an agricultural cooperative, it became a listed company in 2011. Brought Vegemite back under local ownership.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.56

27 Sep
2023

-0.030

OPEN

$2.60

-1.16%

HIGH

$2.62

815,956

LOW

$2.55

TARGET
$3.395 32.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A2M . BFC . BUB . FSF . NUC . NUC . SM1 . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
BGA: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 75.7 8.4 xxx
DPS (cps) xxx 7.5 6.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 31.8% - 13.3% xxx
PE Ratio xxx N/A 29.9 xxx
Dividend Yield xxx N/A 2.6% xxx
Div Pay Ratio(%) xxx N/A 77.4% xxx

Dividend yield today if purchased 3 years ago: 1.45%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.99

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 - ex-div 3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-75.7
DPS All xxxxxxxxxxxxxxx7.5
Sales/Revenue xxxxxxxxxxxxxxx3,376.0 M
Book Value Per Share xxxxxxxxxxxxxxx329.9
Net Operating Cash Flow xxxxxxxxxxxxxxx8.2 M
Net Profit Margin xxxxxxxxxxxxxxx-6.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-20.29 %
Return on Invested Capital xxxxxxxxxxxxxxx-14.75 %
Return on Assets xxxxxxxxxxxxxxx-10.19 %
Return on Equity xxxxxxxxxxxxxxx-20.29 %
Return on Total Capital xxxxxxxxxxxxxxx0.51 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-79.6 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx17 M
Long Term Debt xxxxxxxxxxxxxxx450 M
Total Debt xxxxxxxxxxxxxxx467 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx66 M
Price To Book Value xxxxxxxxxxxxxxx0.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx68.1 M
Capex % of Sales xxxxxxxxxxxxxxx2.02 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,720 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx648 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.1

No. Of Recommendations

4
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

4

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

25/08/2023

3

Hold

$3.50

36.72%

Underlying FY23 EBITDA from Bega Cheese was in line with prior guidance and Bell Potter's forecast. FY24 EBITDA guidance is set at $160-170m and the company is implementing a five-year strategic plan targeting more than $250m in EBITDA.

The broker raises forecasts for net profit in FY24 by 18% to reflect lower depreciation charges. Hold rating maintained.

The coming year appears to be fairly benign in terms of growth, reflecting the headwinds of lower commodity prices and limited reprieve at the farm gate. Target is unchanged at $3.50.

FORECAST
Bell Potter forecasts a full year FY24 dividend of 7.50 cents and EPS of 8.60 cents.
Bell Potter forecasts a full year FY25 dividend of 7.50 cents and EPS of 11.80 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

BGA STOCK CHART

FNArena News on BGA

1
FNArena Corporate Results Monitor – 25-08-2023

Aug 25 2023 - Australia
2
Rudi’s View: ANZ Bank, APA, CSL, Pilbara Minerals, Suncorp & South32

Jul 05 2023 - Rudi's View
3
Weekly Ratings, Targets, Forecast Changes – 30-06-23

Jul 03 2023 - Weekly Reports
4
Australian Broker Call *Extra* Edition – May 26, 2023

May 26 2023 - Daily Market Reports
5
Rudi’s View: Bond Market Says Regime Change Is Upon Us

Apr 19 2023 - Rudi's View

Latest Dairy News

1
Treasure Chest: Bega Cheese

Oct 18 2022 - Treasure Chest
2
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
3
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
4
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
5
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
6
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
7
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps
8
Daigou Drought Sours a2 Milk Outlook

Sep 29 2020 - Australia
9
Treasure Chest: Is a2 Milk In Danger?

Sep 10 2020 - Treasure Chest
10
a2 Milk Souring

Sep 02 2020 - Technicals