Highlights

  • Consensus rating of Hold from 12 analysts: 1 Buy or equivalent, 11 Hold, 0 Sell or equivalent.
  • Mean price target of A$1.61 against a share price of A$1.36 on 8 October 2026, an implied upside of 18.7%.
  • Analyst targets range from A$1.32 to A$1.97.
  • The statutory net result was a loss of $616.6 million, including a significant item expense of $758.8 million after tax, which includes a Glass Business after-tax non-cash Impairment of $728.2 million.

Orora (ASX:ORA) carries a consensus analyst rating of Hold. Of the 12 analyst recommendations recorded, 1 is Buy or equivalent, 11 are Hold and 0 are Sell or equivalent. The mean price target is A$1.61, with targets ranging from A$1.32 to A$1.97, against a current share price of A$1.36 (8 October 2026). Orora Limited is a packaging company with a Cans business and a Glass business that includes Saverglass.

Company name

Orora

Ticker

(ASX:ORA)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$1.36

Price date

8 October 2026

Number of analysts

12

Rating consensus

Hold

Consensus price target (mean)

A$1.61

Highest target

A$1.97

Lowest target

A$1.32

Implied upside/downside to mean target

Implied upside of 18.7%

Latest developments

Orora (ASX:ORA) released its FY26 results on 13 August 2026. The statutory net result was a loss of $616.6 million, including a significant item expense of $758.8 million after tax, which includes a Glass business after-tax non-cash impairment of $728.2 million. Revenue rose 6.5% to $2,225.9 million, EBITDA was $420.3 million, up 0.3%, and EBIT was $248.2 million, down 5.3%. Underlying NPAT was $142.2 million, down 5.9%, and Earnings Per Share were 11.4 cents, flat on FY25.

The final Dividend is 4.0 cents per share and total FY26 dividends are 9.0 cents per share, a Payout Ratio of 78% of NPAT. Underlying Operating Cash Flow was $290.7 million, with cash realisation of 98.3%, and the company returned more than $117 million to shareholders through buy-backs.

In Cans, volumes rose 6.3% and underlying EBITDA rose 14.7%. In Glass, Saverglass volumes rose 5.9%, but revenue and earnings reflect within-category mix, lower average selling prices and margins. The company recorded a non-cash impairment of $742.8 million relating to the Glass business, comprising Saverglass Goodwill and other assets, after reassessing its expectations because of US tariffs, the Middle East conflict and cost-of-living pressures. It said its major Capital Expenditure cycle is complete, and that the Glass business is executing six initiatives targeting more than €30 million of net EBIT run-rate improvement by FY30.

Risks and what to watch

The statutory loss of $616.6 million reflects a $742.8 million pre-tax impairment of the Glass business, and EBIT declined 5.3%. The company says it has revised its view on the timing of the recovery in consumer Demand and Saverglass earnings. Glass results are affected by US tariffs, the Middle East conflict and mix, and the €30 million EBIT improvement target runs to FY30.

Next milestones

Items to watch include payment of the 4.0 cent final dividend, Cans Volume growth, progress on the six Glass initiatives, Saverglass trading, cash generation after the capital expenditure cycle, and the half-year result.