Nufarm Limited (NUF)

Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!

General Information
Company Name: Nufarm Limited
Stock Code: NUF
GICS Sub-Industry: Fertilizers & Agricultural Chemicals
Market Cap ($M): 1,301
Equiv. Shares (M): 264

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.920 $ 4.900 $ 4.930 $ 4.850 $ 4.860 423,234 $ 0.060  1.235 %

Current Broker Consensus Recommendation more
Recommendation: Hold (3)
Recommendation Date: 23rd Oct 2014
Brokers Surveyed: 3

Company Overview

Business Description:
Nufarm Limited (NUF) is a global crop protection company which develops, manufactures and sells a range of crop protection products. NUF sells its products in most of the world’s major agricultural regions. NUF operates two business lines being crop protection and seed technologies.

Strategy Analysis:
Focus is on patent-expired product, using superior formulation and marketing nous to innovate and differentiate product. NUF is increasing sales of non-glyphosate crop protection products and seed technology where margins are higher. While still small, the seeds business is expected to experience solid growth with acquisitions a possibility. In 2007 NUF made a small investment in glyphosate-manufacturing capacity in China to secure supply in an increasingly tight market. Over-supply has since developed. In 2010 Sumitomo acquired 20% of NUF, subsequently increased to 23%. The two companies will complement one another´s product portfolios and distribution reach. Nufarm reported NPAT down 53.5% to $8.39m for the half-year ended 31 January 2013. The impact of foreign exchange losses on financing activities (loss of $9.2m compared to a gain of $14.4m in previous period) was the major contributing factor to the lower statutory and underlying net profit outcomes. Revenues from ordinary activities were $934.41m, up 8.3% from the same period last year. Diluted EPS was 0.4 cents compared to 4.4 cents last year. The net operating cash outflow was $148.23m compared to an outflow of $71.06m in the pcp. The interim dividend declared was 3.0 cents in line with 3.0 cents last year.

Financial Summary
Year to Jul NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016  F 120.2 45.4 12.2 10.7 13.6 2.8 50.0
2015  F 107.1 40.4 44.7 12.0 12.1 2.5 37.5
2014  A 74.0 27.9 5.6 15.9 8.0 1.8 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Nufarm (NUF) $1,285 M 0.0705 0.3304 0.1017 17.3015 13.0051 11.8047 1.65 2.49 2.42

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
NUF 0.56 16.3 0.96 0.77 0.49
Market 0.91 15.3 1.22 1.74 1.54
Sector 0.70 11.6 0.81 0.99 2.94

Name Position Start Date
Mr Doug J Rathbone Chief Executive Officer,Managing Director 21 August 1987
Mr Donald Gordon McGauchie Non-Executive Chairman 19 December 2003
Dr William Bruce Goodfellow Non-Executive Director 15 February 1991
Mr Peter Maxwell Margin Non-Executive Director 03 October 2011
Ms Anne Bernadette Brennan Non-Executive Director 10 February 2011
Mr Gordon Davis Non-Executive Director 31 May 2011
Frank Ford Non-Executive Director 10 October 2012
Mr Toshikazu Takasaki Non-Executive Director 06 December 2012

Name Position
Paul Binfield Chief financial officer
Rodney Heath Company Secretary,Group General Manager Corporate Services
Brian Benson Group executive agriculture
Robert Reis Group executive corporate strategy and external affairs
Greg Hunt Group executive global marketing and business development
Dale Mellody Group executive global supply chain and strategic procurement
Bonita Croft Group executive human resources and organisation development
Mike Pointon Group executive innovation and development
Elbert Prado Group executive manufacturing

Substantial Shareholders
Holding Name
14,692,730 (5.61%) Glade Buildings Ltd
14,679,639 (5.61%) Hauraki Trading Co. Ltd
14,349,658 (5.48%) The Khyber Pass Investment Co Limited
14,330,798 (5.47%) Amalgamated Dairies Ltd
13,261,120 (5.04%) Paradice Investment Management Pty Ltd
14,711,590 (5.62%) PG Keeling & EW Preston
60,210,136 (23.00%) Nufarm Limited
60,210,136 (23.00%) Sumitomo Chemical Company Limited

Calendar of Events
Date Event
22 September 2015 Report (Prelim)
27 April 2015 Report (Interim)
25 March 2015 Report (Interim)
14 November 2014 Div Pay Date
27 October 2014 Report (Annual)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Property through Super

An educational booklet on running your own superannuation fund and investing in property.

More details...


Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.


Sponsored Links