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FFI Holdings (FFI) Fair Value & Analysis

Consumer Defensive · AU · Market cap A$58.6M

FH FFI Holdings FFI · AU
PriceA$4.28
Fair ValueA$4.96
Upside+15.9%
Quality55/100
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Expensive Growth
Solidly profitable · 10.4% net margin
Low debt · negative free cash flow
5.22% dividend yield
Ranks above peers (10/13)
Moderate moat 45/100
Evidence: High Range A$3.73 – A$5.94 Share as image

Fair value as of: Jul 17, 2026

From 17 valuation models · updated 24 days ago

Share price +0.7% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from A$3.73 (bear) to A$5.94 (bull), base A$4.96. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

A$7.36 A$3.00 Fair Value A$4.96 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range A$3.00 – A$7.36 · fair‑value band A$3.73 – A$5.94 · the A$4.28 price screens below the A$4.96 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

FFI Holdings (FFI) currently trades at A$4.28, while our model-based Fair Value estimate is A$4.96, implying the stock looks roughly 15.9% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, FFI Holdings generated revenue of A$62.1M at a net margin of 10.4%. Revenue grew 12.0% year over year. It earns a return on equity of 12.2%. Net debt stands at A$4.7M. Fundamentals as of Jul 17, 2026

Our scenario range runs from A$3.73 (bear case) to A$5.94 (bull case); at A$4.28, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -45% fair-value upside, at 16%, FFI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income A$3.56 A$3.88 A$4.67 76
ROIC Compounder A$3.89 A$4.36 A$4.98 72
Gordon GGM A$0.8100 A$1.36 A$1.77 70
All 17 models by family
DCF Models
Owner Earnings A$3.83 A$5.30 A$7.12 31
Earnings-Based
Graham-Dodd A$3.34 A$10.20 A$13.54 54
Lynch FV A$2.19 A$3.13 A$4.07 50
PEG = 1.0 A$2.19 A$3.13 A$4.07 46
EPV A$3.89 A$4.36 A$4.74 59
Dividend Discount
Gordon GGM A$0.8100 A$1.36 A$1.77 70
DDM Multi-Stage A$0.8100 A$1.21 A$1.46 61
Multiples
P/E Multiple A$7.72 A$10.30 A$12.87 63
P/S Multiple A$5.16 A$6.88 A$8.61 58
P/B Multiple A$6.25 A$8.34 A$10.42 55
EV/EBIT A$9.63 A$12.84 A$16.05 53
EV/EBITDA A$8.08 A$10.78 A$13.47 54
EV/Revenue A$4.52 A$6.45 A$8.39 43
Asset-Based
NCAV (Graham) A$2.19 A$2.94 A$4.38 50
Economic Profit
Residual Income A$3.56 A$3.88 A$4.67 76
ROIC Compounder A$3.89 A$4.36 A$4.98 72
Growth Earnings
Growth-Adj P/E A$6.35 A$9.07 A$11.79 68

Widest divergence: Growth Earnings (A$9.07) versus Dividend Discount (A$1.21). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) A$62.1M
Revenue growth (YoY) +12.0%
Net margin 10.4%
Return on equity 12.2%
Free cash flow −A$6.6M FY2025
P/E ratio 7.6
More key figures
Operating margin 7.1%
EPS (TTM) A$0.5700
Dividend yield 5.2%
EPS growth (YoY) -28.2%
Net debt A$4.7M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 53 · Market factors (momentum, volatility) 49

Profitability 52
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

FFI Holdings Limited, a food processing company, engages in the processing, manufacturing, packaging, and distribution of food products in Australia. The company operates through the Food Operations and Investment Property segments.

Full company description

FFI Holdings Limited, a food processing company, engages in the processing, manufacturing, packaging, and distribution of food products in Australia. The company operates through the Food Operations and Investment Property segments. It manufactures and sells cooking chocolate, chocolate-coated confectionery, sugar confectionery, cake decorations, ready-to-roll icing, and popcorn snack foods under the Nemar, Golden Popcorn, and Orchard Icing brands; processes and packages home cooking need products under the Prepact and Snowflake brands. The company also engages in contract packing for third-party brands; and manufactures, sells, and processes apple products, fruit and baker's fillings, chocolate, chocolate compounds, and cake decoration toppings for the bakery and pastry cooks industry. In addition, it engages in industrial and commercial property investment and leasing activities. The company serves manufacturing, wholesale, and retail food companies. FFI Holdings Limited was incorporated in 1985 and is headquartered in Jandakot, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FFI Holdings reported revenue of A$58.5M in FY2025 versus A$36.7M in FY2021, a compound +12.3%/yr. Reported net income was A$6.7M in FY2025, compounding −6.5%/yr from FY2021.

Growth Quality 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
A$58.5M
Latest YoY
+10.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.8%
Avg. growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.1%
Revenue +12.3%/yr
FY21 A$36.7M
FY22 A$37.2M
FY23 A$46.8M
FY24 A$52.9M
FY25 A$58.5M
Net income −6.5%/yr
FY21 A$8.7M
FY22 A$1.2M
FY23 A$1.7M
FY24 A$1.7M
FY25 A$6.7M
Character of growth · EPS growth decomposed (2014-2025) +1.9 % p.a.
Revenue per share +4.6 pp

of which total revenue +6.2 pp · buybacks/dilution −1.6 pp

EBIT margin +1.1 pp
Tax rate −1.1 pp
Residual (interest, one-offs) −2.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "FFI Holdings Fair Value". https://www.fairvalue-calculator.com/stock/FFI

Peer Group

Confectioners · 75 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 55 · Above median
Fair Value upside +16% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 7% · Below median
Revenue growth 12% · Top 25%
Dividend yield (TTM) 5.2% · Top 25%

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 7.6× · Cheaper than 75% of peers
P/B 0.69× · Cheaper than median
P/S (TTM) 0.67× · Pricier than median
EV/EBITDA 7.8× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 55 · sector 26
FUTURE 60 · sector 0
PAST 49 · sector 26
HEALTH 100 · sector 91
DIVIDEND 100 · sector 57

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Confectioners stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 96,500 CHF 9,874 -90%
Mondelez International, Inc MDLZ $61.00 $27.68 -55%
The Hershey Company HSY $170.27 $91.25 -46%
Barry Callebaut AG BARN CHF 1,100 CHF 711.91 -35%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.50 $21.81 -45%
Guangxi Yuegui Guangye Holdings 000833 ¥18.81 ¥9.83 -48%
Cloetta AB CLAB kr 48.88 kr 59.12 +21%
Balrampur Chini Mills Limited BALRAMCHIN ₹586.20 ₹304.54 -48%
PT Yupi Indo Jelly Gum Tbk YUPI 1,320 IDR 1,286 IDR -3%

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Frequently asked questions

Is FFI Holdings (FFI) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of A$4.96 versus a price of A$4.28, about +16% (undervalued).
What is the fair value of FFI?
Our model-based fair value for FFI Holdings is A$4.96 (as of Jul 17, 2026), built from audited fundamentals. The current price is A$4.28.
What is the quality score of FFI?
FFI Holdings has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of FFI Holdings (FFI)?
FFI Holdings reported trailing-twelve-month revenue of about A$62.1M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of FFI?
The net profit margin of FFI Holdings is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does FFI Holdings pay a dividend?
FFI Holdings currently shows a dividend yield of about 5.18% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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