The Ridley Corporation Ltd (ASX: RIC) share price is in focus after the company reported underlying EBITDA jumped 61.8% to $157.8 million, and a 100% franked final dividend of 5.35 cents per share, for the year ended 30 June 2026.
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What did Ridley report?
- Underlying EBITDA: $157.8 million, up 61.8% from $97.5 million in the prior corresponding period
- Underlying NPAT: $61.0 million, up 41.5% year on year
- Final dividend: 5.35 cps, fully franked (up from 5.00 cps in FY25)
- Operating cash flow: $122.4 million, up from $68.3 million last year
- Leverage: 0.85x (target range: 1–2x)
- Statutory NPAT: $27.6 million (after significant items)
What else do investors need to know?
Ridley completed the acquisition of Incitec Pivot Fertilisers during the year, driving a step-change in earnings and expanding its position in the Australian agricultural sector. The business now holds number one positions across fertilisers, bulk stockfeeds, and packaged feeds and ingredients.
Fertilisers contributed EBITDA of $72.2 million over nine months, meeting the higher end of expectations, while Bulk Stockfeeds and Packaged Feeds saw growth in volumes, though operational constraints temporarily affected ingredients performance.
The company maintained a solid balance sheet, with headline leverage below the 1–2x target, despite the fertiliser acquisition. Ridley's cash generation improved, supporting a progressive dividend and ongoing investment.
What's next for Ridley?
Ridley expects earnings growth from each division in FY27 as it continues integrating its fertilisers business, expands capacity in bulk stockfeeds, and aims for operational recovery in packaged feeds and ingredients.
Management intends to stick with its capital allocation framework and maintain a dividend payout between 50–70% of NPAT. Investment remains focused on efficiency, network upgrades, and pursuing disciplined growth opportunities. The company sees its diversified position providing resilience through changing agricultural cycles and external challenges.
Ridley share price snapshot
Over the past 12 months, Ridley shares have risen 3%, slightly outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
