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FFI Holdings

ASX:FFI
Snowflake Description

Excellent balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FFI
ASX
A$45M
Market Cap
  1. Home
  2. AU
  3. Food, Beverage & Tobacco
Company description

FFI Holdings Limited, a food processing company, engages in the processing, manufacture, packaging, and distribution of food products in Australia. The last earnings update was 23 days ago. More info.


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FFI Share Price and Events
7 Day Returns
0%
ASX:FFI
-0.4%
AU Food
1.3%
AU Market
1 Year Returns
5.3%
ASX:FFI
-10%
AU Food
9.9%
AU Market
FFI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FFI Holdings (FFI) 0% -10.8% -5.4% 5.3% 18.6% 7.9%
AU Food -0.4% 2.4% -2.3% -10% -6.5% 31.9%
AU Market 1.3% -0.6% -1% 9.9% 17.6% 17.8%
1 Year Return vs Industry and Market
  • FFI outperformed the Food industry which returned -10% over the past year.
  • FFI underperformed the Market in Australia which returned 9.9% over the past year.
Price Volatility
FFI
Industry
5yr Volatility vs Market

FFI Value

 Is FFI Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of FFI Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for FFI Holdings.

ASX:FFI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:FFI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.542 (1 + (1- 30%) (9.93%))
0.718
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:FFI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for FFI Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ASX:FFI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.08%)
2020 1.60 Est @ -3.43% 1.49
2021 1.57 Est @ -1.71% 1.37
2022 1.56 Est @ -0.5% 1.27
2023 1.57 Est @ 0.34% 1.19
2024 1.58 Est @ 0.93% 1.12
2025 1.60 Est @ 1.35% 1.06
2026 1.63 Est @ 1.64% 1.01
2027 1.66 Est @ 1.84% 0.96
2028 1.69 Est @ 1.98% 0.91
2029 1.73 Est @ 2.08% 0.87
Present value of next 10 years cash flows A$11.00
ASX:FFI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$1.73 × (1 + 2.31%) ÷ (7.08% – 2.31%)
A$37.04
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$37.04 ÷ (1 + 7.08%)10
A$18.69
ASX:FFI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$11.00 + A$18.69
A$29.69
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$29.69 / 10.76
A$2.76
ASX:FFI Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$2.76
Current discount Discount to share price of A$4.21
= -1 x (A$4.21 - A$2.76) / A$2.76
-52.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of FFI Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for FFI Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FFI Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:FFI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.31
ASX:FFI Share Price ** ASX (2019-10-02) in AUD A$4.21
Australia Food Industry PE Ratio Median Figure of 21 Publicly-Listed Food Companies 25.25x
Australia Market PE Ratio Median Figure of 557 Publicly-Listed Companies 17.93x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of FFI Holdings.

ASX:FFI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:FFI Share Price ÷ EPS (both in AUD)

= 4.21 ÷ 0.31

13.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FFI Holdings is good value based on earnings compared to the AU Food industry average.
  • FFI Holdings is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does FFI Holdings's expected growth come at a high price?
Raw Data
ASX:FFI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-3.1%per year
Australia Food Industry PEG Ratio Median Figure of 13 Publicly-Listed Food Companies 1.47x
Australia Market PEG Ratio Median Figure of 357 Publicly-Listed Companies 1.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for FFI Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on FFI Holdings's assets?
Raw Data
ASX:FFI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$3.35
ASX:FFI Share Price * ASX (2019-10-02) in AUD A$4.21
Australia Food Industry PB Ratio Median Figure of 43 Publicly-Listed Food Companies 1.24x
Australia Market PB Ratio Median Figure of 1,705 Publicly-Listed Companies 1.8x
ASX:FFI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:FFI Share Price ÷ Book Value per Share (both in AUD)

= 4.21 ÷ 3.35

1.26x

* Primary Listing of FFI Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FFI Holdings is overvalued based on assets compared to the AU Food industry average.
X
Value checks
We assess FFI Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. FFI Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FFI Future Performance

 How is FFI Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover FFI Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FFI Holdings expected to grow at an attractive rate?
  • FFI Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • FFI Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Australia market average.
  • Unable to compare FFI Holdings's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:FFI Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:FFI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -3.1%
Australia Food Industry Earnings Growth Rate Market Cap Weighted Average 35.7%
Australia Food Industry Revenue Growth Rate Market Cap Weighted Average 9.1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:FFI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:FFI Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-06-30
ASX:FFI Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 39 3 3
2019-03-31 38 3 3
2018-12-31 37 2 3
2018-09-30 36 3 2
2018-06-30 35 3 2
2018-03-31 35 3 2
2017-12-31 35 3 2
2017-09-30 35 3 2
2017-06-30 34 3 2
2017-03-31 34 3 2
2016-12-31 33 3 2
2016-09-30 32 3 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FFI Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if FFI Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:FFI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from FFI Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:FFI Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-06-30
ASX:FFI Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.31
2019-03-31 0.27
2018-12-31 0.23
2018-09-30 0.23
2018-06-30 0.22
2018-03-31 0.21
2017-12-31 0.21
2017-09-30 0.21
2017-06-30 0.22
2017-03-31 0.23
2016-12-31 0.24
2016-09-30 0.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if FFI Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess FFI Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
FFI Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FFI Past Performance

  How has FFI Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare FFI Holdings's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • FFI Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • FFI Holdings's 1-year earnings growth exceeds its 5-year average (42.4% vs -1.5%)
  • FFI Holdings's earnings growth has exceeded the AU Food industry average in the past year (42.4% vs -28.6%).
Earnings and Revenue History
FFI Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from FFI Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:FFI Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 39.43 3.30 10.50
2019-03-31 38.28 2.90 10.28
2018-12-31 37.13 2.51 10.06
2018-09-30 36.28 2.41 9.67
2018-06-30 35.43 2.32 9.29
2018-03-31 35.42 2.25 9.15
2017-12-31 35.41 2.18 9.02
2017-09-30 34.80 2.21 8.89
2017-06-30 34.20 2.23 8.76
2017-03-31 33.59 2.31 8.71
2016-12-31 32.98 2.39 8.67
2016-09-30 32.39 2.25 8.63
2016-06-30 31.79 2.12 8.60
2016-03-31 31.47 2.12 8.57
2015-12-31 31.15 2.13 8.55
2015-09-30 30.93 2.14 8.57
2015-06-30 30.72 2.15 8.58
2015-03-31 30.62 2.67 8.47
2014-12-31 30.53 3.20 8.37
2014-09-30 30.50 3.21 8.35
2014-06-30 30.47 3.22 8.34
2014-03-31 30.06 2.89 8.44
2013-12-31 29.66 2.55 8.54
2013-09-30 29.89 2.71 8.49
2013-06-30 30.12 2.86 8.44
2013-03-31 30.99 2.44 8.60
2012-12-31 31.85 2.02 8.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • FFI Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FFI Holdings used its assets more efficiently than the AU Food industry average last year based on Return on Assets.
  • FFI Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess FFI Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
FFI Holdings has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FFI Health

 How is FFI Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up FFI Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FFI Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FFI Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FFI Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from FFI Holdings Company Filings, last reported 3 months ago.

ASX:FFI Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 36.03 4.50 2.10
2019-03-31 36.03 4.50 2.10
2018-12-31 35.04 4.50 2.39
2018-09-30 35.04 4.50 2.39
2018-06-30 34.54 4.50 3.36
2018-03-31 34.54 4.50 3.36
2017-12-31 34.67 4.50 3.09
2017-09-30 34.67 4.50 3.09
2017-06-30 33.59 4.50 2.41
2017-03-31 33.59 4.50 2.41
2016-12-31 33.04 4.50 2.30
2016-09-30 33.04 4.50 2.30
2016-06-30 31.94 4.50 1.59
2016-03-31 31.94 4.50 1.59
2015-12-31 31.26 4.50 0.70
2015-09-30 31.26 4.50 0.70
2015-06-30 30.44 3.00 2.51
2015-03-31 30.44 3.00 2.51
2014-12-31 29.69 3.00 1.11
2014-09-30 29.69 3.00 1.11
2014-06-30 29.02 3.00 0.88
2014-03-31 29.02 3.00 0.88
2013-12-31 27.23 0.00 0.53
2013-09-30 27.23 0.00 0.53
2013-06-30 26.41 0.00 2.92
2013-03-31 26.41 0.00 2.92
2012-12-31 25.33 1.50 0.94
  • FFI Holdings's level of debt (12.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (10.3% vs 12.5% today).
  • Debt is well covered by operating cash flow (59.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 25.5x coverage).
X
Financial health checks
We assess FFI Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. FFI Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FFI Dividends

 What is FFI Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.7%
Current annual income from FFI Holdings dividends. Estimated to be 0% next year.
If you bought A$2,000 of FFI Holdings shares you are expected to receive A$114 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • FFI Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.5%).
  • FFI Holdings's dividend is above the markets top 25% of dividend payers in Australia (5.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:FFI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Australia Food Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 3.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 407 Stocks 4.2%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:FFI Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2020-06-30 0.00 1.00
ASX:FFI Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-09-23 0.240 5.826
2019-08-07 0.240 5.125
2019-02-11 0.200 4.761
2018-10-03 0.200 5.005
2018-08-07 0.200 4.923
2018-02-16 0.200 4.901
2017-09-28 0.200 5.017
2017-02-08 0.210 5.295
2016-08-04 0.190 5.342
2015-09-18 0.190 5.519
2015-08-04 0.190 5.391
2014-09-24 0.175 4.681
2014-08-29 0.175 4.277
2013-10-04 0.235 5.639
2013-09-02 0.235 5.884
2012-08-29 0.220 5.915
2011-09-13 0.250 7.340
2010-08-23 0.250 5.975
2010-02-17 0.210 4.640
2009-08-26 0.180 5.002
2009-02-23 0.180 6.767

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of FFI Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • No need to calculate the sustainability of FFI Holdings's dividends in 3 years as they are not expected to pay a notable one for Australia.
X
Income/ dividend checks
We assess FFI Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can FFI Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FFI Holdings has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FFI Management

 What is the CEO of FFI Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Geoffrey Nicholson
COMPENSATION A$211,804
TENURE AS CEO 0.3 years
CEO Bio

Mr. Geoffrey Wayne Nicholson has been an Executive Director of FFI Holdings Limited since September 2, 1986 and serves as its General Manager. Mr. Nicholson serves as Managing Director of Ffi Holdings Ltd.'s Subsidiary. He has over twenty eight years experience in the food processing industry.

CEO Compensation
  • Geoffrey's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Geoffrey's remuneration is lower than average for companies of similar size in Australia.
Management Team

Rodney Moonen

TITLE
Chairman & Company Secretary
COMPENSATION
A$162K

Geoffrey Nicholson

TITLE
MD & Executive Director
COMPENSATION
A$212K
TENURE
0.3 yrs

Robert Strong

TITLE
Managing Director of Tradition Smallgoods Pty Ltd
COMPENSATION
A$152K

Brett Matthews

TITLE
Group General Manager
COMPENSATION
A$207K
Board of Directors Tenure

Average tenure of the FFI Holdings board of directors in years:

29.8
Average Tenure
  • The average tenure for the FFI Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Rodney Moonen

TITLE
Chairman & Company Secretary
COMPENSATION
A$162K
TENURE
29.8 yrs

Geoffrey Nicholson

TITLE
MD & Executive Director
COMPENSATION
A$212K
TENURE
33.1 yrs

Rob Fraser

TITLE
Non-Executive Director
COMPENSATION
A$40K
AGE
53
TENURE
8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
07. Oct 19 Sell Phoenix Portfolios Pty Ltd. Company 21. Apr 17 02. Oct 19 -2,890 A$4.01 A$-11,589
07. Oct 19 Buy Phoenix Portfolios Pty Ltd. Company 21. Apr 17 02. Oct 19 113,913 A$4.01 A$456,687
07. Mar 19 Buy Robert Fraser Individual 06. Mar 19 06. Mar 19 40 A$4.07 A$163
24. Feb 19 Buy Robert Fraser Individual 22. Feb 19 22. Feb 19 2,500 A$4.10 A$10,250
21. Feb 19 Buy Robert Fraser Individual 21. Feb 19 21. Feb 19 13,000 A$4.20 A$54,600
14. Nov 18 Buy Geoffrey Nicholson Individual 14. Nov 18 14. Nov 18 4,277 A$4.00 A$17,108
X
Management checks
We assess FFI Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. FFI Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FFI News

Simply Wall St News

FFI Holdings (ASX:FFI) Shareholders Have Enjoyed A 44% Share Price Gain

For example, the FFI Holdings Limited (ASX:FFI) share price is up 44% in the last three years, clearly besting than the market return of around 16% (not including dividends). … FFI Holdings was able to grow its EPS at 13% per year over three years, sending the share price higher. … We note that for FFI Holdings the TSR over the last 3 years was 69%, which is better than the share price return mentioned above.

Simply Wall St -

FFI Holdings Limited (ASX:FFI): The Best Of Both Worlds

ASX:FFI Income Statement, August 20th 2019 Next Steps: For FFI Holdings, there are three important aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for FFI’s future growth? … Take a look at our free research report of analyst consensus for FFI’s outlook. … The intrinsic value infographic in our free research report helps visualize whether FFI is currently mispriced by the market.

Simply Wall St -

Is FFI Holdings Limited (ASX:FFI) Investing Effectively In Its Business?

Understanding Return On Capital Employed (ROCE) ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for FFI Holdings: 0.10 = AU$4.2m ÷ (AU$50m - AU$9.0m) (Based on the trailing twelve months to June 2019.) So, FFI Holdings has an ROCE of 10%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

What Does FFI Holdings Limited's (ASX:FFI) P/E Ratio Tell You?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for FFI Holdings: P/E of 19.87 = A$4.66 ÷ A$0.23 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … How Does FFI Holdings's Debt Impact Its P/E Ratio? … The Bottom Line On FFI Holdings's P/E Ratio FFI Holdings trades on a P/E ratio of 19.9, which is above its market average of 16.2.

Simply Wall St -

Here's Why FFI Holdings (ASX:FFI) Can Manage Its Debt Responsibly

We can see that FFI Holdings Limited (ASX:FFI) does use debt in its business. … Since FFI Holdings does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Looking at all the aforementioned factors together, it strikes us that FFI Holdings can handle its debt fairly comfortably.

Simply Wall St -

Have Insiders Been Selling FFI Holdings Limited (ASX:FFI) Shares?

So before you buy or sell FFI Holdings Limited (ASX:FFI), you may well want to know whether insiders have been buying or selling. … ASX:FFI Recent Insider Trading, July 1st 2019 Insider Ownership of FFI Holdings For a common shareholder, it is worth checking how many shares are held by company insiders. … It's great to see high levels of insider ownership, but looking back at the last year, we don't gain confidence from the FFI Holdings insiders selling.

Simply Wall St -

Something To Consider Before Buying FFI Holdings Limited (ASX:FFI) For The 4.6% Dividend

Click the interactive chart for our full dividend analysis ASX:FFI Historical Dividend Yield, July 1st 2019 Payout ratios Dividends are typically paid from company earnings. … In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. … First, the company has a payout ratio that was within an average range for most dividend stocks, but it paid out virtually all of its generated cash flow.

Simply Wall St -

How Did FFI Holdings Limited's (ASX:FFI) 7.2% ROE Fare Against The Industry?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for FFI Holdings: 7.2% = AU$2.5m ÷ AU$35m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does FFI Holdings Have A Good Return On Equity? … Companies that can achieve high returns on equity without too much debt are generally of good quality.

Simply Wall St -

Do FFI Holdings's (ASX:FFI) Earnings Warrant Your Attention?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … While we note FFI Holdings's EBIT margins were flat over the last year, revenue grew by a solid 4.9% to AU$37m

Simply Wall St -

A Holistic Look At FFI Holdings Limited (ASX:FFI)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on FFI Holdings Limited (ASX:FFI) due to its excellent fundamentals in more than one area. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

FFI Company Info

Description

FFI Holdings Limited, a food processing company, engages in the processing, manufacture, packaging, and distribution of food products in Australia. The company operates through Bakery, Smallgoods, and Investment Property segments. It offers bakers' jams and fruit fillings for use in bakery products, including donuts, tarts, sponge cakes, and various post bake applications; fruit mince for use in tarts and slices; patisserie fillings, spreads, and glazes; fresh diced Apple; chocolate and confectionery products; cake icings, toppings, and decoration items; ice creams and desserts; and bacon and other processed meat products. The company also provides ready to roll icing and popcorn snack foods for the retail market under the Nemar, Golden Popcorn, and Orchard Icing brand names. In addition, it processes and packages a range of products for the home cooking market sector under the Prepact and Snowflake brands; and provides contract packing services for third party brands. Further, the company owns industrial and commercial property for investment purposes. It serves bakers and pastry cooks, and supermarkets, as well as ice cream and dairy, confectionery, chocolate, and food services industries. The company was founded in 1979 and is headquartered in Jandakot, Australia.

Details
Name: FFI Holdings Limited
FFI
Exchange: ASX
Founded: 1979
A$45,301,145
10,760,367
Website: http://www.ffiholdings.com.au
Address: FFI Holdings Limited
19-23 Knock Place,
Jandakot,
Western Australia, 6164,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX FFI Ordinary Shares Australian Securities Exchange AU AUD 02. Jan 1992
Number of employees
Current staff
Staff numbers
0
FFI Holdings employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 10:33
End of day share price update: 2019/10/02 00:00
Last estimates confirmation: 2019/09/30
Last earnings filing: 2019/09/20
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.