Nou.Ax
Noumi Foods Limited (NOU.AX) is a food processing company that produces and distributes plant-based food products, primarily in the Australian market.
Business. Noumi Foods Limited (NOU.AX) is a food processing company that produces and distributes plant-based food products, primarily in the Australian market.
Analyst recommendations
1 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Synthesis
Noumi Foods Limited (NOU.AX) is a food processing company that produces and distributes plant-based food products, primarily in the Australian market.
Noumi Foods has a highly leveraged capital structure, with total liabilities of AUD 717.5 million and total equity of -AUD 452.3 million, resulting in a debt-to-equity ratio of -1.36. The company's liquidity position is weak, as indicated by a current ratio of 0.25, suggesting limited ability to meet short-term obligations. Free cash flow is negative at -AUD 145.1 million, and operating cash flow of AUD 32.5 million is insufficient to cover capital expenditures of -AUD 4.9 million.
Profitability metrics show significant underperformance. The company reported a net loss of AUD 150.0 million and an operating loss of AUD 150.4 million, with a return on equity of 33.16% despite negative equity. Gross profit of AUD 161.7 million on revenue of AUD 595.8 million indicates a gross margin of 27.14%, which is below the industry median for food processing companies.
Geographically, Noumi Foods is heavily concentrated in the Australian market, with no disclosed international revenue streams. The company's revenue is entirely derived from its plant-based food product line, with no material diversification across product segments.
The company's growth trajectory is uncertain, with no disclosed revenue growth in the most recent fiscal year. Analysts have assigned a mean price target of AUD 0.18, with all recommendations clustered at "Buy" or "Hold," indicating limited upside potential. The company's operating income and net income remain negative, and there are no clear indicators of a turnaround in the near term.
Risk factors include high leverage, negative equity, and weak liquidity. The company's debt-to-equity ratio of -1.36 and negative net cash position raise concerns about solvency. Dilution risk is currently low, as there is no indication of share issuance or dilution in the near term. However, the company may need to raise additional capital to fund operations, which could lead to future dilution.
Recent events include the publication of the latest financial results, which show continued losses and a deteriorating balance sheet. The company has not disclosed any material changes in operations or strategy in recent filings or transcripts.
- Noumi Foods is operating at a significant loss with negative equity and high leverage.
- The company's liquidity position is weak, with a current ratio of 0.25 and negative free cash flow.
- Analysts have assigned a low price target of AUD 0.18, with no strong buy recommendations.
- The company is heavily concentrated in the Australian market and has no material international exposure.
- There are no clear indicators of a turnaround in the near term, and the company may need to raise additional capital to fund operations.
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Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,13 |
| Revenue | —no estimate | —no estimate | 650,9M AUD |
| Operating income | —no estimate | —no estimate | 56,8M AUD |
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consensus EPS · 26-week trendSell-side observations
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Risk factors
- Net cash is negative after subtracting total debt.
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- NOU.AX Market data — financials · 2026-05-28
- Noumi Ltd Market data — analyst estimates · 2026-05-28