INCITEC PIVOT LIMITED (IPL)
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IPL - INCITEC PIVOT LIMITED

FNArena Sector : Agriculture
Year End: September
GICS Industry Group : Materials
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Incitec Pivot is an Australian manufacturer of fertilisers and explosives chemicals. It is the largest supplier of fertilisers in Australia and the largest supplier of explosives in the US and Canada. The company was listed in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.91

17 May
2022

-0.020

OPEN

$3.91

-0.51%

HIGH

$3.97

7,513,233

LOW

$3.85

TARGET
$4.204 7.5% upside
Franking for last dividend paid out: 14%
OTHER COMPANIES IN THE SAME SECTOR
CGC . ELD . GNC . NUF . RHL . RIC . SHV . TFC . APC . AAC . MWY . MRG . NAM . AMN . WLD . CBO . SGL . SGLLV . D2O . UMG . TFL . HFR . LGL .
FNARENA'S MARKET CONSENSUS FORECASTS
IPL: 1
Title FY20
Actual
FY21
Actual
FY22
Forecast
FY23
Forecast
EPS (cps) xxx 7.7 48.9 xxx
DPS (cps) xxx 9.3 27.9 xxx
EPS Growth xxx 7.9% 100.0% xxx
DPS Growth xxx N/A 100.0% xxx
PE Ratio xxx N/A 7.8 xxx
Dividend Yield xxx N/A 7.3% xxx
Div Pay Ratio(%) xxx 121.1% 57.1% xxx

Dividend yield today if purchased 3 years ago: 2.79%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.44

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: 01/12 - ex-div 8.3c (franking 14%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx7.7
DPS All xxxxxxxxxxxxxxx9.3
Sales/Revenue xxxxxxxxxxxxxxx4,348.5 M
Book Value Per Share xxxxxxxxxxxxxxx276.4
Net Operating Cash Flow xxxxxxxxxxxxxxx650.2 M
Net Profit Margin xxxxxxxxxxxxxxx3.43 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Capital Employed xxxxxxxxxxxxxxx2.82 %
Return on Invested Capital xxxxxxxxxxxxxxx2.06 %
Return on Assets xxxxxxxxxxxxxxx1.60 %
Return on Equity xxxxxxxxxxxxxxx2.82 %
Return on Total Capital xxxxxxxxxxxxxxx6.37 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx275.8 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

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

Credit Suisse

xx/xx/xxxx

1

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UBS

01/04/2022

1

Buy

$4.50

15.09%

Incitec Pivot looks to benefit from continuing fertiliser price rallies, with di-ammonium phosphate, ammonia and urea up 10%, 46% and 5% respectively in the last three months, supported by supply constraints as noted by UBS. 

The broker has upgraded its earnings per share forecasts 58% and 44% for FY22 and FY23, noting Incitec Pivot is particularly sensitive to di-ammonium phosphate and ammonia pricing.

The company's Waggaman ammonia plant is also set to restart production in April, which UBS notes should allow production to command a record ammonia contract price of US$1,625/Mt from May.

The Buy rating is retained and the target price increases to $4.50 from $3.95.

FORECAST
UBS forecasts a full year FY22 EPS of 51.00 cents.
UBS forecasts a full year FY23 EPS of 41.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

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xxx

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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IPL STOCK CHART