Origin Enterprises

Contrarians at the farm-gate

  • Sectors : Foods
  • Companies : Origin Enterprises

Ratings and price correct at time of issue.

  • Origin Enterprises

    Closing Price: 549c

  • RATING 30/06/09



Key debates around Origin’s equity are evolving, with the focus now on farm subsidy changes, supply chain and technology adoption at farm-gate. Despite the rate of change, we believe the role of the distributor will not be disintermediated, with on-farm relationships and the role of the trusted advisor remaining critical in a more commercial farming environment. Following a period of investment, the next stage of Origin’s evolution will be about enhancing productivity and delivering sustainable growth. Trading on 10.5x forward P/E and 7.7% free cash flow yield, Origin is unfairly priced for imperfection. With upside risk to forecasts, we reiterate our ‘Outperform’ rating.

Download full report with analyst certification and important disclosures

Mar 4 2019, 07:00 GMT