Company Valuation: GrainCorp Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,451 1,741 1,574 2,034 1,959 1,461 - -
Change - 19.96% -9.6% 29.27% -3.68% -25.41% - -
Enterprise Value (EV) 1 2,292 2,524 1,946 2,133 2,061 1,756 1,754 1,737
Change - 10.11% -22.89% 9.61% -3.37% -14.81% -0.14% -0.92%
P/E 10.4x 4.68x 6.36x 33.5x 50x -136x 24x 18.4x
PBR 1.2x 1.2x 0.99x 1.35x 1.38x 1.1x 1.11x 1.12x
PEG - 0x -0.2x -0.4x -1.4x 1x -0x 0.6x
Capitalization / Revenue 0.26x 0.22x 0.19x 0.31x 0.27x 0.22x 0.22x 0.22x
EV / Revenue 0.42x 0.32x 0.24x 0.33x 0.28x 0.26x 0.26x 0.26x
EV / EBITDA 6.92x 3.59x 3.44x 7.97x 6.69x 7.93x 6.54x 6.24x
EV / EBIT 10.2x 4.31x 4.53x 14.4x 11x 16.9x 11.8x 10.9x
EV / FCF 19x 6.95x 3.82x 28.1x 11.7x 65.3x 9.69x 16.8x
FCF Yield 5.27% 14.4% 26.2% 3.56% 8.57% 1.53% 10.3% 5.95%
Dividend per Share 2 0.1 0.54 0.54 0.28 0.48 0.272 0.305 0.2914
Rate of return 1.58% 6.92% 7.65% 3.04% 5.33% 4.13% 4.63% 4.42%
EPS 2 0.607 1.666 1.11 0.275 0.18 -0.0484 0.2742 0.3574
Distribution rate 16.5% 32.4% 48.6% 102% 267% -562% 111% 81.5%
Net sales 1 5,492 7,868 8,229 6,507 7,306 6,728 6,718 6,622
EBITDA 1 331 703.4 565.3 267.8 307.9 221.4 268.2 278.3
EBIT 1 223.7 586.1 429.2 148.4 187.7 104 149 159.7
Net income 1 139.3 380.4 249.7 61.8 39.9 -12.23 57.12 71.73
Net Debt 1 841 783.1 372.5 99 102 294.7 292.3 276.2
Reference price 2 6.340 7.800 7.060 9.200 9.000 6.590 6.590 6.590
Nbr of stocks (in thousands) 228,856 223,151 222,883 221,100 217,687 221,742 - -
Announcement Date 11/10/21 11/15/22 11/15/23 11/13/24 11/12/25 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-134.68x0.26x7.86x4.17% 1.03B
13.07x0.27x7.07x1.12% 2.4B
91.24x - - - 1.09B
10.68x0.43x6.21x5.78% 955M
Average -4.92x 0.32x 7.04x 3.69% 1.37B
Weighted average by Cap. 0.45x 0.30x 7.07x 2.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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