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The a2 Milk Company Ltd

Consumer Defensive AU A2M

9.58AUD
0.10(1.05%)

Last update at 2026-03-13T06:15:00Z

Day Range

9.329.61
LowHigh

52 Week Range

7.059.97
LowHigh

Fundamentals

  • Previous Close 9.48
  • Market Cap6877.04M
  • Volume1114806
  • P/E Ratio36.46
  • Dividend Yield2.38%
  • EBITDA284.08M
  • Revenue TTM2056.43M
  • Revenue Per Share TTM2.84
  • Gross Profit TTM 943.01M
  • Diluted EPS TTM0.26

Source: TradingView
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Analyst Recommendations

Financials

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Income before tax 289.25M 238.14M 222.86M 181.39M 119.27M
Minority interest 10.80M 13.70M 10.80M 7.88M -
Net income 202.89M 167.58M 155.64M 122.62M 80.66M
Selling general administrative 254.17M 236.23M 228.66M 105.20M 87.02M
Selling and marketing expenses 375.61M 330.28M 311.06M 278.87M 213.88M
Gross profit 875.15M 766.63M 739.16M 663.52M 509.71M
Reconciled depreciation 26.34M 32.20M 18.20M 18.93M 7.45M
Ebit 291.73M 241.14M 227.31M 183.39M 119.34M
Ebitda 318.06M 273.34M 245.51M 202.31M 126.79M
Depreciation and amortization 26.34M 32.20M 18.20M 18.93M 7.45M
Non operating income net other - - - - -
Operating income 219.04M 202.24M 201.22M 177.41M 126.42M
Other operating expenses 1680.23M 1471.08M 1389.99M 1266.45M 1089.06M
Interest expense 4.30M 4.50M 4.45M 2.00M 0.07M
Tax provision 97.16M 84.26M 78.02M 66.65M 38.61M
Interest income 45.46M 40.40M 26.73M 6.57M 3.99M
Net interest income 41.16M 35.90M 21.64M 3.98M 3.22M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense 97.16M 84.26M 78.02M 66.65M 38.61M
Total revenue 1899.27M 1673.32M 1591.09M 1443.74M 1205.03M
Total operating expenses 656.11M 564.39M 557.92M 507.53M 402.82M
Cost of revenue 1024.12M 906.69M 851.92M 780.22M 695.32M
Total other income expense net 70.21M 35.90M 1.78M 2.49M 1.70M
Discontinued operations - - - - -
Net income from continuing ops 192.09M 153.88M 144.84M 114.74M 80.66M
Net income applicable to common shares - - 155.64M 122.62M 80.66M
Preferred stock and other adjustments - - - - -
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Total assets 1942.11M 1734.88M 1611.71M 1715.85M 1372.01M
Intangible assets 8.64M 8.71M 6.07M 6.85M 6.96M
Earning assets - - - - -
Other current assets - 61.28M 47.22M 60.38M 44.25M
Total liab 511.37M 478.10M 462.21M 521.89M 288.05M
Total stockholder equity 1450.97M 1266.48M 1145.82M 1180.38M 1083.96M
Deferred long term liab - - - - -
Other current liab - 327.31M 302.14M 309.97M 225.31M
Common stock - 0.10M 0.10M 149.16M 149.12M
Capital stock 0.10M 0.10M 0.10M 149.16M 149.12M
Retained earnings 1632.12M 1490.78M 1323.20M 1167.56M 1044.94M
Other liab - - 0.66M 1.29M 0.51M
Good will 102.28M 102.38M 102.35M 102.47M 8.17M
Other assets - - 118.62M 43.45M 69.72M
Cash 1100.17M 968.94M 802.23M 887.31M 875.15M
Cash and equivalents - - - - -
Total current liabilities 450.08M 416.77M 379.21M 440.17M 274.69M
Current deferred revenue - - 3.17M 3.17M 4.75M
Net debt - -902.72300M -700.70600M -762.95600M -858.65200M
Short term debt - 5.60M 19.18M 43.92M 3.65M
Short long term debt 39.00M - 15.00M 40.79M -
Short long term debt total - 66.22M 101.53M 124.35M 16.50M
Other stockholder equity - - -1323.29900M -1316.71800M -1194.05800M
Property plant equipment - - 262.56M 256.58M 32.46M
Total current assets 1451.00M 1287.94M 1122.11M 1171.24M 1096.89M
Long term investments 110.88M 44.10M 89.89M 150.92M 174.42M
Net tangible assets - - 1037.40M 1071.06M 1068.82M
Short term investments - - 450.00M 450.00M -16.61400M
Net receivables 61.79M 78.07M 79.22M 83.51M 65.28M
Long term debt 38.76M 37.89M 67.04M 66.21M -
Inventory 139.11M 179.65M 193.44M 140.04M 112.20M
Accounts payable 75.97M 83.86M 54.72M 83.11M 40.99M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income - -224.40000M -177.47900M -136.34100M -110.09800M
Additional paid in capital - - - - -
Common stock total equity - - - - -
Preferred stock total equity - - - - -
Retained earnings total equity - - - - -
Treasury stock - - - - -3.77300M
Accumulated amortization - - - - -
Non currrent assets other - 0.26M 0.11M 2.06M -
Deferred long term asset charges - - - - -
Non current assets total 491.11M 446.93M 489.61M 544.61M 275.12M
Capital lease obligations 22.97M 28.33M 19.49M 17.35M 16.50M
Long term debt total - - - - 12.85M
Breakdown 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Type yearly yearly yearly yearly yearly
Date 2025-06-30 2024-06-30 2023-06-30 2022-06-30 2021-06-30
Investments -92.28300M -37.13600M -13.94200M -450.00000M -39.84100M
Change to liabilities - - -71.63300M 69.50M -14.84600M
Total cashflows from investing activities -92.28300M -37.13600M -13.94200M -669.98500M -64.36800M
Net borrowings 39.00M -45.00000M -29.37200M 22.91M -3.23000M
Total cash from financing activities -28.27500M -49.80900M -178.42900M 9.64M -1.04200M
Change to operating activities - - 10.91M -20.85200M 28.52M
Net income 202.89M 167.58M 155.64M 122.62M 80.66M
Change in cash 81.23M 166.71M -85.07400M -437.84200M 20.97M
Begin period cash flow 518.94M 352.23M 437.31M 875.15M 854.18M
End period cash flow 600.17M 518.94M 352.23M 437.31M 875.15M
Total cash from operating activities 201.48M 255.74M 111.28M 141.55M 89.42M
Issuance of capital stock - - - 0.04M 2.19M
Depreciation - 32.20M 17.12M 18.93M 7.45M
Other cashflows from investing activities -0.31000M -3.50600M - - -57.05700M
Dividends paid -61.54200M - 0.04M 54.00M 13.69M
Change to inventory 40.53M 13.79M -53.39600M -19.67900M 35.13M
Change to account receivables -14.17600M 1.15M 4.29M -3.56200M 5.42M
Sale purchase of stock - - -149.05700M -13.30600M 2.19M
Other cashflows from financing activities -5.73300M -4.80900M -3.57800M 49.91M -3.23000M
Change to netincome - - 15.21M 26.24M -20.14800M
Capital expenditures 3.97M 17.02M 10.41M 5.17M 7.31M
Change receivables - - - - -
Cash flows other operating - - - - -
Exchange rate changes - - - - -
Cash and cash equivalents changes - - - - -
Change in working capital -27.62300M 8.07M -49.10200M -23.24100M 3.29M
Stock based compensation - 10.73M 17.13M 11.61M 1.84M
Other non cash items 229.10M 37.17M -61.47900M -141.55300M -88.11100M
Free cash flow 197.51M 235.22M 100.88M 136.38M -7.31100M

Peer Comparison

Sector: Consumer Defensive Industry: Packaged Foods

Company Change (AUD) Price (AUD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x) Enterprise Value to Revenue (x) Enterprise Value to EBITDA (x)
A2M
The a2 Milk Company Ltd		 0.10 1.05% 9.58 36.46 27.47 3.34 6.03 3.74 21.65
BGA
Bega Cheese Ltd		 0.06 1.04% 5.82 192.00 21.74 0.48 1.79 0.61 57.49
CBO
Cobram Estate Olives Ltd		 0.10 3.38% 3.06 29.60 - 6.05 2.77 6.91 14.78
RIC
Ridley Corporation Ltd		 0.10 3.75% 2.77 13.85 13.42 0.62 1.85 0.88 14.90
SHV
Select Harvests Ltd		 -0.04 1.04% 3.81 17.32 8.59 1.36 1.05 2.12 14.24

Reports Covered

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Profile

The a2 Milk Company Limited, together with its subsidiaries, sells A2-type protein type branded milk and related products in Australia, New Zealand, China, rest of Asia, and the United States. The company offers infant milk formula; other nutritional products and milk; manufactures and sells nutritional and ingredients products, as well as provides rent, royalty, and licensing services. It offers its products under the a2 Milk and a2 Platinum brands. The company was formerly known as A2 Corporation Limited and changed its name to The a2 Milk Company Limited in April 2014. The a2 Milk Company Limited was incorporated in 2000 and is based in Auckland, New Zealand.

The a2 Milk Company Ltd

51 Shortland Street, Auckland, New Zealand, 1010

Key Executives

Name Title Year Born
Mr. David L. Bortolussi B.Com., BComm, F.C.A., FCA, FFin MD, CEO & Director 1969
Mark Sherwin Interim CFO & Group Head of Fin. - FP&A and Risk NA
Mr. Shareef Khan Chief Operating Officer NA
Mr. David Akers Group Head of Investor Relations & Sustainability NA
Mr. Jaron McVicar Chief Legal & Sustainability Officer and Company Sec. NA
Ms. Edith Bailey Chief Marketing Officer NA
Ms. Amanda Hart Chief People & Culture Officer NA
Mr. Blake Waltrip Chief Exec. of USA Region NA
Ms. Jane Xu Exec. VP of Greater China NA
Mr. Li Xiao Chief Exec. of Greater China NA

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