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Retail Food Group
(Sydney:RFG)
Retail Food Group (RFG) vs. iShares MSCI Australia ETF (EWA)
Retail Food Group Business Overview & Revenue Model
Retail Food Group Earnings Call Summary
Retail Food Group Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 136.16M | 137.87M | 125.18M | 111.37M | 102.58M | 109.10M |
| Gross Profit | 44.69M | 97.14M | 90.88M | 54.38M | 50.77M | 52.19M |
| EBITDA | -14.94M | -3.78M | 26.58M | 1.42M | 19.28M | 24.52M |
| Net Income | -20.27M | -14.92M | 5.79M | -8.95M | 5.26M | 1.46M |
Balance Sheet | ||||||
| Total Assets | 352.38M | 360.58M | 368.74M | 348.89M | 350.08M | 369.76M |
| Cash, Cash Equivalents and Short-Term Investments | 16.75M | 26.00M | 20.64M | 22.26M | 29.22M | 34.65M |
| Total Debt | 174.14M | 125.94M | 113.62M | 110.64M | 128.42M | 153.38M |
| Total Liabilities | 155.46M | 165.60M | 160.73M | 149.18M | 166.30M | 191.91M |
| Stockholders Equity | 196.93M | 194.98M | 208.01M | 199.71M | 183.78M | 177.86M |
Cash Flow | ||||||
| Free Cash Flow | 1.59M | 13.31M | 10.32M | -4.93M | 12.34M | 8.41M |
| Operating Cash Flow | 5.05M | 18.41M | 15.36M | -1.20M | 15.43M | 11.07M |
| Investing Cash Flow | -6.89M | -6.25M | -9.91M | -2.21M | -828.00K | 1.88M |
| Financing Cash Flow | -2.75M | -6.80M | -7.09M | -3.61M | -20.24M | -18.43M |
Retail Food Group Technical Analysis
Retail Food Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$200.91M | 5.11 | 8.86% | 4.13% | 11.62% | ― | |
69 Neutral | AU$1.12B | 11.61 | 2.90% | 2.67% | 4.61% | -76.47% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | AU$1.71B | 12.12 | -0.70% | 3.58% | -3.09% | -104.37% | |
50 Neutral | AU$1.94B | 52.00 | 3.94% | 0.56% | 27.40% | ― | |
48 Neutral | $65.95M | 11.71 | -6.95% | ― | 10.13% | -353.94% | |
41 Neutral | AU$4.87M | 1.09 | ― | ― | -6.32% | -9.62% |
Retail Food Group Corporate Events
Retail Food Group has appointed Abigail Cheadle as a director, with the company lodging an initial director’s interest notice with the ASX. The filing confirms that Cheadle currently holds no relevant interests in Retail Food Group securities or related contracts, indicating a neutral starting position in terms of equity alignment with existing shareholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group reported first-half FY26 results showing resilient domestic network sales of $254.6 million and modest same-store sales growth, despite difficult trading conditions and ongoing closures of non-core and underperforming outlets. The company continues to reposition its portfolio toward core brands and Franchise Partner-led stores, while managing a weaker profit outcome, with underlying EBITDA down 43.1% to $9.2 million.
Management is executing a transformation program to cut costs, improve Franchise Partner earnings, reset its company store strategy and enhance procurement, marketing and operations to drive future network sales and profitability. A newly refinanced $41.2 million debt facility with major shareholder WHSP provides balance sheet stability and funding certainty, and the group has maintained its FY26 underlying EBITDA guidance of $20–24 million, signaling expectations for a stronger second half despite recent soft trading and cash flow pressures.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited reported a weaker first half for the period ended 26 December 2025, with total revenues and other income falling 6.4% to A$69.0 million and underlying EBITDA dropping 43.1% to A$9.2 million, after restating prior-period figures for stores earmarked for sale or exit. Reported EBITDA declined 50.3% to A$8.4 million and profit before tax slid 77.1% to A$2.3 million, driving a 72.9% fall in profit attributable to shareholders to A$2.0 million, while net tangible liabilities per security improved slightly but remained negative and no dividends were declared for the period.
The steep profit contraction reflects a combination of softer revenue, higher transformation and strategic reset costs, and the impact of restructuring company-owned stores. While the strategic reset is intended to streamline operations, the current earnings pressure and continued negative net tangible asset position underline ongoing balance sheet and profitability challenges for investors and other stakeholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has strengthened its board with the appointment of experienced Chartered Accountant Abigail Cheadle as an independent non-executive director and incoming chair of the Audit & Risk Management Committee, alongside the addition of industry veteran Gary Brinkworth as a non-executive director representing a substantial shareholder. The board has also suspended its search for a new chief executive and formalised an extension of Executive Chairman Peter George’s employment, signalling continuity in leadership as the company pursues its strategic and operational initiatives.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has notified the market of the cessation of 18,315 service rights under its capital structure, as these conditional rights have lapsed. The lapse occurred because the conditions attached to the rights were not met or have become incapable of being satisfied, indicating an adjustment to the company’s pool of potential equity-based incentives.
The securities, identified under the ASX code RFGAD, officially ceased on 11 February 2026 as part of this update to issued capital. This change reduces the number of outstanding rights that could convert into shares in future, modestly simplifying the company’s capital position and altering the potential dilution profile for existing shareholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has announced the cessation of 154,867 performance rights, which lapsed because the conditions attached to those rights were not met or could no longer be satisfied. The move trims the company’s pool of potential equity-linked instruments, modestly simplifying its capital structure and signalling that certain performance hurdles tied to these rights were not achieved.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has refinanced its senior debt through a new 19‑month, $41.2 million facility with major shareholder Washington H. Soul Pattinson, adding $7.5 million of additional funding to underpin its “Enhance & Grow” strategy and providing greater balance sheet certainty ahead of the previous facility’s 2026 maturity. The company flagged a sharp fall in first-half FY26 underlying EBITDA to $9.0–10.0 million from $16.0 million a year earlier amid softer second-quarter trading, non-recurring benefits in the prior period and slower contributions from new Beefy’s outlets and its Turkey supply hub, but maintained that domestic network sales remained resilient and outlined cost‑reduction initiatives expected to deliver $1.2–1.8 million in savings in FY26 and $5.0–7.0 million in FY27. RFG has opted to retain its profitable Brumby’s Bakery brand after a divestment review, citing stakeholder interests, and issued full‑year FY26 underlying EBITDA guidance of $20.0–24.0 million, banking on efficiency measures, brand refreshes, franchisee support and disciplined investment in growth platforms such as the planned Firehouse Subs rollout and expanded international operations to drive an earnings improvement in the second half.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has notified the market that 99,573 performance rights (ASX code RFGAL) have lapsed after the conditions attached to those rights were not, or could no longer be, satisfied as at 2 February 2026. The cessation of these conditional securities slightly reduces the company’s potential future share issuance under its incentive structures, which may have minor implications for executive or employee remuneration arrangements but does not alter the company’s existing issued capital on the market.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has applied for quotation on the ASX of 12,500 new fully paid ordinary shares under its code RFG, with an issue date of 2 February 2026. The relatively small share issuance, arising from the exercise or conversion of existing securities, represents a minor expansion of the company’s listed capital base and is unlikely to materially alter its market position but will modestly increase the free float available to investors.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has announced that non-executive director David Campbell Grant has ceased to be a director of the company effective 28 January 2026. In a regulatory filing detailing his final director’s interest notice, the company disclosed that Grant holds 60,750 fully paid ordinary RFG shares and has no additional indirect interests or contractual interests in company securities, signalling a straightforward board departure without associated changes to major equity or contractual positions.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has announced the immediate resignation of non-executive director David Grant, the company’s longest-serving independent board member and chair of its Audit & Risk Management Committee, who joined alongside Executive Chairman Peter George in 2018. His departure removes a key figure who helped steer the company through a period of significant change, with the board acknowledging his extensive experience and steadying influence, and may prompt further evolution in RFG’s governance and oversight structures as it continues to manage its multi-brand franchise portfolio and expansion plans.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has appointed Mark Lindh as a director, effective 7 January 2026, with the company disclosing that he currently holds no relevant interests in its securities or related contracts. The appointment signals a change in the board’s composition, but without any initial shareholding or contractual interests, it suggests Lindh’s role will initially be focused on governance and strategic oversight rather than reflecting an immediate shift in ownership structure or capital alignment for existing stakeholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group has appointed experienced corporate advisor and public company director Mark Lindh as a non-executive director, adding deep capital markets and governance expertise to its board. Lindh, who leads AE Advisors and chairs or sits on the boards of several ASX-listed companies across food, technology, energy and resources, is expected to bolster RFG’s board capabilities in areas such as equity and debt markets, capital raising, mergers and acquisitions and investor relations, strengthening the company’s strategic oversight as it pursues growth in its multi-brand food franchising operations.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has notified the market that 744,446 performance rights (ASX code: RFGAL) have lapsed after conditions attached to those rights were not satisfied or became incapable of being satisfied as at 18 December 2025. The cessation of these securities reduces the company’s potential future share dilution from incentive arrangements, signalling that certain performance hurdles were not met and potentially reflecting on the company’s recent operational or financial performance metrics tied to those rights.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has applied for the quotation of 14,621 new ordinary fully paid shares on the ASX, effective 18 December 2025. The small issuance, arising from the exercise or conversion of existing securities, modestly increases the company’s quoted capital base and reflects ongoing equity-related activity rather than a major strategic or operational shift for shareholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has announced a change in its Chief Financial Officer position, with Rob Shore stepping down and Ryan Chellingworth being promoted to the role effective January 1, 2026. Rob Shore, who joined RFG in April 2023, has been instrumental in driving significant improvements in financial systems and strategic initiatives, including key acquisitions and partnerships. His leadership has also been pivotal in restructuring the company’s international supply chain. The transition to Ryan Chellingworth, who has extensive experience in finance and has been with RFG since August 2023, is expected to continue the company’s strategic growth and operational efficiency.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited has announced the quotation of 150,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 8, 2025. This move is part of the company’s strategic financial operations, potentially impacting its market position and offering new opportunities for stakeholders.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited announced the cessation of Kerry Anne Ryan as a director, effective November 27, 2025. The announcement included details about her interests in the company’s securities, specifically noting that the Klok-Ryan Family Superannuation Fund holds 34,427 ordinary shares for the benefit of Ms. Ryan and her family. This change in directorship may impact the company’s governance structure and could have implications for stakeholders monitoring leadership dynamics within the organization.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group Limited’s Annual General Meeting (AGM) on November 27, 2025, resulted in all proposed resolutions being carried, including the re-election of a director and the approval of the remuneration report. A contingent spill resolution was not required as less than 25% of votes were against the remuneration report. These outcomes reflect stability in the company’s governance and could reassure stakeholders about RFG’s strategic direction and operational management.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.
Retail Food Group’s Executive Chairman addressed key developments from FY25 and provided a trading update for FY26. Despite challenging macroeconomic conditions, RFG’s core brands demonstrated resilience, with a focus on enhancing and growing these brands while supporting franchisees. The company is investing in technology and supply chain optimization to expand its networks and generate shareholder value. RFG’s growth is supported by brand innovation and new pathways with Beefy’s and Firehouse Subs.
The most recent analyst rating on (AU:RFG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Retail Food Group stock, see the AU:RFG Stock Forecast page.