Nufarm Limited

ASX:NUF Stock Report

Market Cap: AU$1.6b

Nufarm Valuation

Is NUF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NUF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NUF (A$4.07) is trading below our estimate of fair value (A$14.82)

Significantly Below Fair Value: NUF is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NUF?

Key metric: As NUF is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NUF. This is calculated by dividing NUF's market cap by their current revenue.
What is NUF's PS Ratio?
PS Ratio0.5x
SalesAU$3.35b
Market CapAU$1.57b

Price to Sales Ratio vs Peers

How does NUF's PS Ratio compare to its peers?

The above table shows the PS ratio for NUF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.6x
KLL Kalium Lakes
13.3x63.5%AU$50.8m
WAF West African Resources
2.4x23.9%AU$1.7b
CRN Coronado Global Resources
0.4x1.9%AU$1.6b
TGH Terragen Holdings
6.4xn/aAU$13.3m
NUF Nufarm
0.5x7.6%AU$1.6b

Price-To-Sales vs Peers: NUF is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (3.1x).

Price to Sales Ratio vs Industry

How does NUF's PS Ratio compare vs other companies in the AU Chemicals Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.4.8x10.0%
NUF Nufarm
 0.5x7.6%US$1.02b
ORI Orica
1.2x4.0%US$5.72b
IPL Incitec Pivot
1.1x0.7%US$3.86b
NUF 0.5xIndustry Avg. 4.8xNo. of Companies14PS020406080100+
14 CompaniesEstimated GrowthMarket Cap
Industry Avg.4.8x34.7%
NUF Nufarm
 0.5x66.1%US$1.02b
No more companies

Price-To-Sales vs Industry: NUF is good value based on its Price-To-Sales Ratio (0.5x) compared to the Australian Chemicals industry average (4.8x).

Price to Sales Ratio vs Fair Ratio

What is NUF's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NUF PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.5x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: NUF is good value based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NUF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$4.07
AU$4.86
+19.4%
25.5%AU$7.70AU$3.75n/a13
Nov ’25AU$3.87
AU$4.79
+23.9%
26.3%AU$7.70AU$3.65n/a13
Oct ’25AU$3.92
AU$4.84
+23.5%
26.2%AU$7.70AU$3.65n/a13
Sep ’25AU$3.97
AU$4.84
+21.9%
26.2%AU$7.70AU$3.65n/a13
Aug ’25AU$4.66
AU$5.78
+24.1%
16.9%AU$7.70AU$4.80n/a13
Jul ’25AU$4.59
AU$5.78
+25.9%
16.9%AU$7.70AU$4.80n/a13
Jun ’25AU$4.47
AU$5.78
+29.3%
16.9%AU$7.70AU$4.80n/a13
May ’25AU$5.12
AU$6.01
+17.3%
12.7%AU$7.70AU$5.00n/a13
Apr ’25AU$5.50
AU$6.00
+9.1%
13.0%AU$7.70AU$4.90n/a13
Mar ’25AU$5.84
AU$6.00
+2.7%
13.0%AU$7.70AU$4.90n/a13
Feb ’25AU$5.52
AU$5.94
+7.7%
12.9%AU$7.70AU$4.90n/a13
Jan ’25AU$5.22
AU$5.96
+14.1%
12.9%AU$7.70AU$4.90n/a13
Dec ’24AU$4.67
AU$5.96
+27.6%
12.9%AU$7.70AU$4.90n/a13
Nov ’24AU$4.37
AU$6.10
+39.6%
14.8%AU$7.70AU$4.85AU$3.8712
Oct ’24AU$4.75
AU$6.20
+30.5%
13.2%AU$7.70AU$5.00AU$3.9212
Sep ’24AU$5.22
AU$6.76
+29.6%
8.5%AU$7.70AU$5.47AU$3.9712
Aug ’24AU$5.26
AU$6.90
+31.2%
6.5%AU$7.70AU$6.04AU$4.6611
Jul ’24AU$5.09
AU$6.91
+35.8%
6.7%AU$7.70AU$6.04AU$4.5911
Jun ’24AU$5.44
AU$6.82
+25.4%
8.0%AU$7.70AU$5.78AU$4.4712
May ’24AU$5.61
AU$6.65
+18.6%
10.8%AU$7.50AU$5.09AU$5.1212
Apr ’24AU$5.71
AU$6.65
+16.5%
10.8%AU$7.50AU$5.09AU$5.5012
Mar ’24AU$5.74
AU$6.75
+17.6%
10.2%AU$7.75AU$5.63AU$5.8412
Feb ’24AU$5.81
AU$6.75
+16.2%
10.2%AU$7.75AU$5.63AU$5.5212
Jan ’24AU$6.13
AU$6.74
+10.0%
10.1%AU$7.75AU$5.63AU$5.2212
Dec ’23AU$6.11
AU$6.70
+9.7%
9.7%AU$7.75AU$5.63AU$4.6712
Nov ’23AU$5.72
AU$6.57
+14.8%
8.4%AU$7.40AU$5.58AU$4.3711

Analyst Forecast: Target price is less than 20% higher than the current share price.

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