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Cobram Estate Olives Limited

CBO.AX
32
Packaged Foods · Consumer Defensive
Exchange
Australian Securities Exchange
Winston Score
32
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Strong
Valuation
Good
Dividends
Weak

Winston Score History

The full picture

Cobram Estate Olives grows olive trees and produces olive oil in Australia and the United States. Its main products are extra virgin olive oil sold under the Cobram Estate brand, along with table olives and olive-related goods. The company sells to everyday grocery shoppers through supermarkets and retail stores, and it is one of the largest olive oil producers in the Southern Hemisphere.

The company makes money by selling bottled olive oil and bulk oil to retailers and food manufacturers, earning revenue from both its Australian and American farming operations. Its competitive edge comes from owning large olive groves and controlling the full process from growing to bottling, which helps it manage quality and costs. However, olive harvests depend heavily on weather and rainfall, so crop variability is a real risk each year, and the company also faces pressure from cheaper imported European olive oils competing for shelf space in its core markets.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-48.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+4.4% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

28.4%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 months

A$4M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Cobram Estate Olives Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
16.4%
Thin — 16.4% gross margin
Profit after running costs
Operating Margin
-5.6%
Losing money on operations — -5.6%
Return on the money invested
ROCE
5.5%
Weak — 5.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-27.0%
Shrinking sales (-27.0% YoY)
Profit growth
EPS YoY
-22.7%
Earnings shrinking (-22.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
-23%
Weak — only -23% of profit becomes cash
Spare cash per sale
FCF Margin
-49.2%
Burning cash (-49.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.34
Conservative — low debt load (0.34)
Covers its interest
Interest Cover
5.86x
Adequate interest coverage (5.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
85.5x
no trend
Expensive — P/E 85.5

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+58.8
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (85.5 → 26.7)

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Dividends

Dividend
Dividend Yield
1.29%
no trend
Small dividend — 1.29% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
no trend
Data not available

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