Retail Food Group Limited

ASX:RFG Stock Report

Market Cap: AU$45.5m

Retail Food Group Management

Management criteria checks 0/4

Retail Food Group's CEO is Matt Marshall, appointed in Jul 2023, has a tenure of 2.83 years. total yearly compensation is A$939.48K, comprised of 60.8% salary and 39.2% bonuses, including company stock and options. directly owns 0.086% of the company’s shares, worth A$39.30K. The average tenure of the management team and the board of directors is 1.3 years and 2.7 years respectively.

Key information

Matt Marshall

Chief executive officer

AU$939.5k

Total compensation

CEO salary percentage60.83%
CEO tenure2.8yrs
CEO ownership0.09%
Management average tenure1.3yrs
Board average tenure2.7yrs

Recent management updates

Recent updates

Analysis Article • Nov 20

Retail Food Group Limited (ASX:RFG) Surges 29% Yet Its Low P/S Is No Reason For Excitement

Retail Food Group Limited ( ASX:RFG ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • Sep 06

Lacklustre Performance Is Driving Retail Food Group Limited's (ASX:RFG) 25% Price Drop

Retail Food Group Limited ( ASX:RFG ) shareholders won't be pleased to see that the share price has had a very rough...
Analysis Article • Aug 15

Retail Food Group (ASX:RFG) Is Experiencing Growth In Returns On Capital

ASX:RFG 1 Year Share Price vs Fair Value Explore Retail Food Group's Fair Values from the Community and select yours...
Analysis Article • Apr 08

Does Retail Food Group (ASX:RFG) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jan 14

Market Participants Recognise Retail Food Group Limited's (ASX:RFG) Revenues

It's not a stretch to say that Retail Food Group Limited's ( ASX:RFG ) price-to-sales (or "P/S") ratio of 1.1x right...
Analysis Article • Dec 12

Is It Too Late To Consider Buying Retail Food Group Limited (ASX:RFG)?

While Retail Food Group Limited ( ASX:RFG ) might not have the largest market cap around , it saw significant share...
Analysis Article • Nov 13

We Like These Underlying Return On Capital Trends At Retail Food Group (ASX:RFG)

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Jun 13

Why Investors Shouldn't Be Surprised By Retail Food Group Limited's (ASX:RFG) P/S

There wouldn't be many who think Retail Food Group Limited's ( ASX:RFG ) price-to-sales (or "P/S") ratio of 1.6x is...
Analysis Article • Jan 06

Retail Food Group Limited (ASX:RFG) Soars 27% But It's A Story Of Risk Vs Reward

Despite an already strong run, Retail Food Group Limited ( ASX:RFG ) shares have been powering on, with a gain of 27...
Analysis Article • Dec 02

Retail Food Group Limited's (ASX:RFG) Intrinsic Value Is Potentially 90% Above Its Share Price

Key Insights The projected fair value for Retail Food Group is AU$0.12 based on 2 Stage Free Cash Flow to Equity...
Analysis Article • Nov 01

Is Retail Food Group (ASX:RFG) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jun 08

Here's What's Concerning About Retail Food Group's (ASX:RFG) Returns On Capital

When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...
Analysis Article • Apr 28

Retail Food Group (ASX:RFG) Takes On Some Risk With Its Use Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Feb 16

These Return Metrics Don't Make Retail Food Group (ASX:RFG) Look Too Strong

Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...
Analysis Article • Dec 26

Should You Think About Buying Retail Food Group Limited (ASX:RFG) Now?

Retail Food Group Limited ( ASX:RFG ), is not the largest company out there, but it saw a significant share price rise...
Analysis Article • Dec 05

Retail Food Group (ASX:RFG) Has A Somewhat Strained Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Nov 18

Is There An Opportunity With Retail Food Group Limited's (ASX:RFG) 23% Undervaluation?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Retail Food Group...
Analysis Article • Sep 02

Is There Now An Opportunity In Retail Food Group Limited (ASX:RFG)?

Retail Food Group Limited ( ASX:RFG ), is not the largest company out there, but it led the ASX gainers with a...
Analysis Article • Jul 22

Retail Food Group Limited's (ASX:RFG) Intrinsic Value Is Potentially 90% Above Its Share Price

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Retail Food Group...
Analysis Article • Jun 14

The Returns On Capital At Retail Food Group (ASX:RFG) Don't Inspire Confidence

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Analysis Article • May 10

Does Retail Food Group (ASX:RFG) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Mar 18

Is Retail Food Group (ASX:RFG) A Risky Investment?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Jan 24

Here's Why We Don't Think Retail Food Group's (ASX:RFG) Statutory Earnings Reflect Its Underlying Earnings Potential

As a general rule, we think profitable companies are less risky than companies that lose money. Having said that...
Analysis Article • Nov 30

Does Retail Food Group (ASX:RFG) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

CEO Compensation Analysis

How has Matt Marshall's remuneration changed compared to Retail Food Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 26 2025n/an/a

-AU$20m

Sep 26 2025n/an/a

-AU$18m

Jun 27 2025AU$939kAU$571k

-AU$15m

Mar 27 2025n/an/a

-AU$3m

Dec 27 2024n/an/a

AU$9m

Sep 27 2024n/an/a

AU$7m

Jun 30 2024n/an/a

AU$6m

Mar 31 2024n/an/a

AU$1m

Dec 29 2023n/an/a

-AU$4m

Sep 29 2023n/an/a

-AU$6m

Jun 30 2023AU$504kAU$413k

-AU$9m

Mar 31 2023n/an/a

-AU$5m

Dec 30 2022n/an/a

-AU$909k

Sep 30 2022n/an/a

AU$2m

Jul 01 2022AU$519kAU$408k

AU$5m

Apr 01 2022n/an/a

AU$4m

Dec 31 2021n/an/a

AU$4m

Sep 30 2021n/an/a

AU$5m

Jul 02 2021AU$427kAU$389k

AU$7m

Apr 02 2021n/an/a

AU$2m

Dec 31 2020n/an/a

-AU$3m

Sep 30 2020n/an/a

AU$7m

Jun 30 2020AU$246kAU$98k

AU$17m

Compensation vs Market: Matt's total compensation ($USD679.46K) is above average for companies of similar size in the Australian market ($USD333.07K).

Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.

CEO

Matt Marshall

2.8yrs
Tenure
AU$939,483
Compensation

Mr. Matthew Marshall, also known as Matt, serves as Chief Executive Officer of Retail Food Group Limited since July 01, 2023. He served as Head of Retail at Retail Food Group Limited since November 18, 202...

Leadership Team

NamePositionTenureCompensationOwnership
Peter George
Executive Chairman7.7yrsAU$248.16k0.13%
A$ 57.0k
Matthew Marshall
Chief Executive Officer2.8yrsAU$939.48k0.086%
A$ 39.3k
Robert Shore
Executive Officerless than a yearAU$862.46k0.079%
A$ 36.0k
Anthony Connors
Director of Corporate Services & Company Secretary20.1yrsAU$646.61k0.037%
A$ 17.1k
Ryan Chellingworth
Chief Financial Officerless than a yearno datano data
Bree Coleman
Chief Operating Officerno datano datano data
Adam Bailey
Chief Information Officerno datano datano data
Tanya Watt
Chief Marketing Officerno datano datano data
Khloe Caneris
Head of People & Cultureno datano datano data
Gabriel Perez
Chief Editorno datano datano data
Daniel Bailey
Head of Franchise Recruitmentno datano datano data
1.3yrs
Average Tenure

Experienced Management: RFG's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Peter George
Executive Chairman7.7yrsAU$248.16k0.13%
A$ 57.0k
Mark Lindh
Non-Executive Directorless than a yearno datano data
Abigail Jane Mackenzie Cheadle
Independent Non-Executive Directorless than a yearno datano data
Jacinta Caithness
Independent Non-Executive Director2.7yrsAU$112.00k0.0087%
A$ 4.0k
Michael Bulley
Non-Executive Director3.2yrsAU$110.00k0.033%
A$ 14.9k
2.7yrs
Average Tenure

Experienced Board: RFG's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/12 08:41
End of Day Share Price 2026/05/12 00:00
Earnings2025/12/26
Annual Earnings2025/06/27

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Retail Food Group Limited is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Chamithri RatnapalaBell Potter
Alva DeVoyCGS International
Alexander MeesJ.P. Morgan