Highlights

  • Consensus rating of Buy from 6 analysts: 6 Buy or equivalent, 0 Hold, 0 Sell or equivalent.
  • Mean price target of A$3.40 against a share price of A$2.52 on 8 October 2026, an implied upside of 34.7%.
  • Analyst targets range from A$3.10 to A$3.90.
  • Revenue was $2,864.2 million, underlying EBITDA was $157.8 million, up 61.8%, and underlying NPAT was $61.0 million, up 41.5%.

Ridley Corporation (ASX:RIC) carries a consensus analyst rating of Buy. Of the 6 analyst recommendations recorded, 6 are Buy or equivalent, 0 are Hold and 0 are Sell or equivalent. The mean price target is A$3.40, with targets ranging from A$3.10 to A$3.90, against a current share price of A$2.52 (8 October 2026). Ridley Corporation Limited is an Australian animal nutrition company that expanded into fertilisers through its Acquisition of Incitec Pivot Fertilisers.

Company name

Ridley Corporation

Ticker

(ASX:RIC)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$2.52

Price date

8 October 2026

Number of analysts

6

Rating consensus

Buy

Consensus price target (mean)

A$3.40

Highest target

A$3.90

Lowest target

A$3.10

Implied upside/downside to mean target

Implied upside of 34.7%

Latest developments

Ridley Corporation (ASX:RIC) published its Annual Report for FY26, authorised on 20 August 2026. Revenue was $2,864.2 million, underlying EBITDA was $157.8 million, up 61.8%, and underlying NPAT was $61.0 million, up 41.5%. Statutory NPAT was $27.6 million, compared with $43.3 million, after significant items including a $37.5 million gain on bargain purchase, $34.6 million of acquisition costs and a $31.8 million NovaqPro impairment.

Ridley acquired Incitec Pivot Fertilisers on 30 September 2025 for $409.6 million, and the fertilisers Business contributed $72.2 million of EBITDA over nine months. The final Dividend is 5.35 cents per share, fully franked, payable on 22 October 2026, with a Record Date of 7 October 2026, bringing the FY26 dividend to 10.45 cents compared with 9.75 cents. Gearing was 0.85 times against a target range of 1.0 to 2.0 times.

For FY27, the company expects growth in all three segments, a full-year contribution from Fertilisers and completion of its IT migration.

Sector context

Ridley supplies animal nutrition products to livestock producers and, since the acquisition, fertilisers to farmers, so its results relate to agricultural conditions, input costs and seasonal demand. Its acquisition changed the scale and mix of the business.

Risks and what to watch

Statutory NPAT fell to $27.6 million because of significant items, including an Impairment of NovaqPro, even though underlying NPAT rose 41.5%. Underlying growth includes nine months of the acquired fertilisers business. Gearing of 0.85 times is below the target range of 1.0 to 2.0 times. Agricultural Earnings depend on seasons, Commodity prices and input costs.

Next milestones

Items to watch include payment of the 5.35 cent final dividend on 22 October 2026, a full year of fertilisers earnings, the IT migration, and trading across the three segments in FY27.