Select Harvests (SHV) AI Stock Analysis

• Market Cap: AU$548.54M
• Dividend Yield: N/A
• Average Volume (3M): 806.62K
• Price to Earnings (P/E): 17.2
• Beta (1Y): 1.10
• Revenue Growth: 18.08%
• EPS Growth: 1680.16%
• Country: AU
• Employees: 471
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.02
• Shares Outstanding: 142,107,640
• 10 Day Avg. Volume: 359,609
• 30 Day Avg. Volume: 806,623
• PEG Ratio: 0.01
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 1.44
• P/FCF Ratio: 7.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$4.80
• Price Target Upside: 20.30% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.44
• Revenue Forecast (FY): AU$424.42M

• Rating: 74 Outperform
• Price Target: AU$4.50 ▲(12.78% Upside)
• Action: Upgraded Date: 12/11/25
• Date: Action: Upgraded 12/11/25

Select Harvests is on a positive trajectory with strong financial recovery and bullish technical indicators. The company's strategic focus on debt reduction and operational efficiency is commendable, although challenges such as increased production costs and no dividend payment this year are notable risks.

Positive Factors

Improved cash generation

Substantially stronger free cash flow and operating cash generation provide durable funding for capex, working capital and debt reduction. This improves resilience to agricultural cycles, supports reinvestment in processing capacity and reduces reliance on external financing over the medium term.

Lower leverage / debt reduction

Material net debt reduction and a more balanced debt-to-equity ratio lower financial risk and interest burden. Improved leverage enhances flexibility for refinancing, supports investment in growth projects and increases capacity to withstand revenue volatility from crop swings.

Capacity expansion (Project Optimus)

Near-term completion of a major capacity expansion creates structural scale benefits and higher processing throughput. Greater capacity facilitates more value-added product mix, improves unit economics long term, and strengthens market position in supply to industrial and export customers.

Negative Factors

Reduced crop size

Significant year-on-year crop reduction reflects inherent agricultural volatility. Lower production limits ability to fully utilize processing capacity and can create earnings and margin volatility. Persistently smaller crops would constrain revenue growth and raise per-unit costs.

Rising input costs

A structural increase in key input costs compresses gross margins and limits the benefit from higher prices. If sustained, these cost pressures reduce operating leverage from capacity expansion and require either higher product pricing or further efficiency gains to protect profitability.

Pollination / bee availability risk

Dependence on securing bees for pollination creates an ongoing production risk; Varroa-related management constraints can reduce yields or raise costs for mitigation. Chronic pollination challenges could materially affect orchard productivity and long-term supply reliability.

Select Harvests Business Overview & Revenue Model

Company Description

Select Harvests Limited engages in the processing, packaging, marketing, and distribution of edible nuts, dried fruits, seeds, muesli, and various natural health foods in Australia. It grows, processes, and sells almonds to the food industry from company owned and leased almond orchards, as well as holds a portfolio of approximately 9,262 hectares of almond orchards located in Victoria, New South Wales, and South Australia. The company also exports its products to Asia, Europe, and the Middle East. It offers its products under Renshaw and Alling Farms in the wholesale and industrial markets. Select Harvests Limited was incorporated in 1969 and is based in Richmond, Australia.

How the Company Makes Money

Select Harvests generates revenue primarily through the cultivation, processing, and sale of almonds. The company operates its own almond orchards, which contribute to a significant portion of its revenue by directly producing raw almonds for sale. In addition to raw almonds, Select Harvests also produces and sells a variety of value-added almond products, such as almond meal, almond oil, and snack items. The company benefits from both domestic sales and exports, with key markets including Asia and North America. Significant partnerships with distributors and retailers further enhance its market reach and revenue potential. Additionally, Select Harvests may engage in strategic collaborations or joint ventures to expand its product offerings and distribution networks, contributing to its overall earnings.

Select Harvests Financial Statement Overview

Summary

Select Harvests has shown a strong recovery in financial performance, with improvements in revenue growth, profitability margins, and cash flow generation. The balance sheet reflects a healthier leverage position, although historical fluctuations in financial metrics suggest potential risks.

Income Statement

Select Harvests has shown a positive revenue growth rate of 6.38% in the latest period, indicating recovery from previous declines. The gross profit margin improved to 17.21%, and the net profit margin increased to 8.00%, reflecting enhanced profitability. However, historical volatility in EBIT and EBITDA margins suggests potential risks in maintaining consistent operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.57, indicating a more balanced leverage position compared to previous years. Return on equity is modest at 6.09%, showing moderate profitability relative to equity. The equity ratio stands at 55.78%, suggesting a stable financial structure, but past fluctuations in equity levels pose potential risks.

Cash Flow

Select Harvests has demonstrated significant improvement in free cash flow growth, with a remarkable increase of 146.98%. The operating cash flow to net income ratio of 0.83 indicates strong cash generation relative to earnings. However, historical volatility in free cash flow highlights potential risks in sustaining this growth.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	397.81M	336.84M	205.44M	235.52M	228.26M
Gross Profit	68.45M	32.88M	-26.99M	25.07M	44.84M
EBITDA	59.14M	30.55M	-135.28M	33.59M	53.72M
Net Income	31.84M	1.50M	-114.73M	4.76M	15.12M
Balance Sheet
Total Assets	937.75M	1.01B	913.25M	1.00B	1.00B
Cash, Cash Equivalents and Short-Term Investments	1.37M	2.87M	1.13M	1.14M	2.00M
Total Debt	296.33M	400.52M	420.98M	377.78M	353.22M
Total Liabilities	414.55M	529.31M	501.73M	494.00M	476.85M
Stockholders Equity	523.20M	480.76M	411.52M	520.28M	526.96M
Cash Flow
Free Cash Flow	79.03M	1.34M	-31.23M	-5.95M	-127.34M
Operating Cash Flow	118.64M	21.35M	-8.25M	26.30M	38.19M
Investing Cash Flow	-29.49M	-18.39M	-26.15M	-35.57M	-169.72M
Financing Cash Flow	-90.65M	5.09M	30.74M	10.27M	133.25M

Select Harvests Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.99
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SHV, the sentiment is Negative. The current price of 3.99 is below the 20-day moving average (MA) of 4.01, below the 50-day MA of 4.56, and below the 200-day MA of 4.16, indicating a bearish trend. The MACD of -0.18 indicates Negative momentum. The RSI at 37.59 is Neutral, neither overbought nor oversold. The STOCH value of 67.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:SHV.

Select Harvests Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CBO	75 Outperform	AU$1.43B	28.82	14.44%	1.55%	6.09%	166.89%
SHV	74 Outperform	AU$548.54M	17.21	6.00%	―	18.08%	1680.16%
RIC	68 Neutral	AU$1.10B	14.35	10.88%	3.74%	3.15%	7.29%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
BGA	51 Neutral	AU$1.92B	235.58	-0.68%	1.95%	0.49%	-127.84%

Select Harvests Corporate Events

Select Harvests Assesses Impact of Heavy Rains on 2026 Almond Crop

Select Harvests has reported that recent heavy rainfall has halted harvesting at its Riverland and Sunraysia orchards in South Australia, Victoria and southern New South Wales, prompting a temporary redeployment of equipment and staff to its drier Riverina orchards to maintain progress. With dry weather now forecast, the company plans to resume harvesting as conditions improve but says it is too early to determine any effect on yield or quality, with a further update to come alongside half-year results.

Management emphasised that any adverse impact would be confined to the 2026 crop and would not affect future seasons, helped by the commissioning of higher-capacity drying facilities at the Carina West site. The upgraded infrastructure has also attracted additional interest from external growers seeking access to Select Harvests’ drying capacity, underscoring the company’s role as a key processor in the Australian almond industry despite the short-term weather disruption.

The most recent analyst rating on (AU:SHV) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Select Harvests stock, see the AU:SHV Stock Forecast page.

Select Harvests Sets 2025 AGM to Vote on Board Elections and Executive Pay

Select Harvests Limited has convened its 2025 Annual General Meeting for 17 February 2026 in Melbourne, where shareholders will receive and consider the company’s financial statements for the year ended 30 September 2025. The agenda includes an advisory vote on the remuneration report, the election of directors Margaret Zabel and Michelle Somerville (both previously appointed by the board), and approval for Managing Director David Surveyor to participate in the company’s long‑term incentive plan, with a conditional spill resolution also on the table if a significant protest vote emerges against executive pay.

The most recent analyst rating on (AU:SHV) stock is a Buy with a A$5.50 price target. To see the full list of analyst forecasts on Select Harvests stock, see the AU:SHV Stock Forecast page.

Select Harvests Corrects TSR Figures in FY2025 Annual Report

Select Harvests has identified and corrected a series of inaccurate total shareholder return (TSR) figures published in its FY2025 Annual Report, affecting reported TSRs for FY21 to FY25 in a graph and one reference to the FY25 TSR. The company has issued revised TSR numbers, noting that the errors are confined to the FY2025 Annual Report, do not alter any previously reported financial results or remuneration outcomes, and therefore have no material impact on the company’s underlying performance disclosures or stakeholder entitlements.

The most recent analyst rating on (AU:SHV) stock is a Buy with a A$5.50 price target. To see the full list of analyst forecasts on Select Harvests stock, see the AU:SHV Stock Forecast page.

Select Harvests Sets Out 2025 Sustainability Strategy and Reporting Framework

Select Harvests Limited has released its 2025 Sustainability Report, outlining its updated sustainability strategy, materiality assessment and mitigation framework aimed at building a more resilient business. The report highlights the company’s focus on environmental stewardship, including measuring and reporting sustainability results, and sets out how it plans to integrate emerging reporting standards such as AASB requirements into its operations, signalling an increased emphasis on transparency and long-term sustainability for investors, customers and other stakeholders.

The most recent analyst rating on (AU:SHV) stock is a Buy with a A$5.50 price target. To see the full list of analyst forecasts on Select Harvests stock, see the AU:SHV Stock Forecast page.