BEGA CHEESE LIMITED (BGA)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

BGA

BGA - BEGA CHEESE LIMITED

FNArena Sector : Dairy
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 2.95
Index: ASX200 | ASX300 | ALL-ORDS

Bega Cheese is an Australian food company specialising in dairy products and spreads. Founded in 1899 as an agricultural cooperative, it became a listed company in 2011. Brought Vegemite back under local ownership.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.79

25 Jun
2026

0.180

OPEN

$5.59

3.21%

HIGH

$5.80

1,194,283

LOW

$5.60

TARGET
$6.542 13.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A2M . BUB . NUC . NUC . SM1 . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
BGA: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 17.9 25.4 xxx
DPS (cps) xxx 14.5 16.9 xxx
EPS Growth xxx N/A 41.6% xxx
DPS Growth xxx 20.8% 16.8% xxx
PE Ratio xxx N/A 23.4 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 80.8% 66.7% xxx

Dividend yield today if purchased 3 years ago: 5.09%

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: 25/08 - ex-div 7.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx17.9
DPS All xxxxxxxxxxxxxxx14.5
Sales/Revenue xxxxxxxxxxxxxxx3,774.6 M
Book Value Per Share xxxxxxxxxxxxxxx326.2
Net Operating Cash Flow xxxxxxxxxxxxxxx129.3 M
Net Profit Margin xxxxxxxxxxxxxxx1.45 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx5.54 %
Return on Invested Capital xxxxxxxxxxxxxxx3.85 %
Return on Assets xxxxxxxxxxxxxxx2.57 %
Return on Equity xxxxxxxxxxxxxxx5.54 %
Return on Total Capital xxxxxxxxxxxxxxx6.69 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-13.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx19 M
Long Term Debt xxxxxxxxxxxxxxx448 M
Total Debt xxxxxxxxxxxxxxx468 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx133 M
Price To Book Value xxxxxxxxxxxxxxx1.80

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx113.8 M
Capex % of Sales xxxxxxxxxxxxxxx3.01 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,989 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx689 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

01/05/2026

3

Hold

$5.70

-1.55%

Ord Minnett notes Bega Cheese announced its financial update and 2031 strategy.

Strategically, management has generated earnings (EBITDA) growth of around 12% p.a. between FY23-FY26, on revenue growth of 4% p.a., by leaving seven manufacturing sites, consolidating warehouses, and reducing the headcount by -20%.

The Branded segment is aiming for earnings (EBITDA) of $320m-$340m by FY31, and Bulk is anticipated to generate earnings (EBITDA) of $50m-$55m in FY26, from a loss of -$18m in FY24.

The analyst points to headwinds from a rise in farmgate prices, as farmers experience higher costs, as well as overall cost pressures, which are likely to impact margins.

Earnings forecasts are lowered by -2% to -4% for FY26-FY28. No change in Hold rating, and target lowered to $5.70 from $6.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 13.50 cents and EPS of 23.10 cents.
Ord Minnett forecasts a full year FY27 dividend of 16.00 cents and EPS of 25.00 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY
Access Extra Coverage Research History >

BGA STOCK CHART

FNArena News on BGA

Latest Dairy News

1
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
2
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
3
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
4
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
5
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
6
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps
7
Daigou Drought Sours a2 Milk Outlook

Sep 29 2020 - Australia
8
Treasure Chest: Is a2 Milk In Danger?

Sep 10 2020 - Treasure Chest
9
a2 Milk Souring

Sep 02 2020 - Technicals
10
IPO Taps Appetite For Plant-Based Proteins

Aug 17 2020 - Weekly Reports