a2 Milk Company Limited

a2 Milk Company Limited

8.62
NZD
+0.04
(+0.47%)
0.29EPS
58.42P/E
6.64BMarket Cap
Feb 22Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
Revenue per Share
0.17
0.28
0.54
0.81
1.39
1.78
2.35
1.62
1.94
2.17
2.32
2.62
2.72
Basic EPS, GAAP
- -
- -
0.05
0.13
0.3
0.39
0.52
0.11
0.16
0.21
0.23
0.28
0.16
Free Cash Flow per Basic Share
- -
-0.02
0.03
0.14
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.09
0.23
Book Value per Share
0.08
0.11
0.2
0.35
0.83
1.07
1.53
1.46
1.59
1.59
1.75
2
1.48
Tangible Book Value per Share
0.05
0.07
0.17
0.33
0.81
1.05
1.51
1.44
1.44
1.44
1.6
1.85
1.17
Basic Weighted Avg Shares
668
634
687
716
725
733
736
742
744
733
723
724
725
Sales/Revenue/Turnover
111
176
368
577
1,009
1,304
1,731
1,205
1,444
1,591
1,673
1,899
1,972
Operating Margin (%)
0.16
1.18
14.89
24.69
30.43
31.68
31.37
8.87
10.8
11.39
10.03
11.53
12.5
Depreciation Expense
2
2
3
3
2
2
4
7
19
18
32
26
18
Net Income, GAAP
- -
-2
32
95
214
288
386
81
123
156
168
203
114
Effective Tax Rate (%)
98.61
263.23
41.8
34.95
30.91
30.78
29.86
32.37
36.74
35.01
35.38
33.59
30.04
Profit Margin (%)
0.01
-1.35
8.63
16.5
21.22
22.06
22.29
6.69
8.49
9.78
10.01
10.68
5.76
Working Capital
35
36
110
164
371
470
823
822
731
743
871
1,001
511
LT Debt
- -
- -
- -
- -
- -
- -
13
13
80
82
61
56
18
Total Equity
52
67
139
254
608
788
1,134
1,084
1,194
1,150
1,257
1,431
1,073
Return on Invested Capital (%)
- -
-5.61
29.34
42.48
44.69
38.08
38.1
6.38
8.16
9.02
8.11
9.84
12.79
Return on Capital (%)
0.02
-4.41
31.03
48.55
49.72
41.24
39.81
7.17
10.9
13.18
14.24
15.09
8.84
Return on Common Equity (%)
0.02
-4.01
30.91
48.5
49.7
41.23
40.15
7.27
10.83
13.38
13.89
14.93
9

Capital Structure

NZD

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

NZD

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

NZD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
29.6%
0.92%
-25%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
37.76%
12.73%
-44.02%
Sales/Revenue/Turnover
21.58%
10.51%
3.84%
Total Cash Common Dividend
- -
- -
171.11%

Semi-annual Revenue

NZD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,673
2025
- -
- -
1,899
2026
- -
- -
1,972

Semi-annual Earnings Per Share

NZD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.23
2025
- -
- -
0.28
2026
- -
- -
0.16

Semi-annual Dividends Per Share

NZD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
0.09
2026
- -
- -
0.23

Company Description

CEO
David Landt Bortolussi
Full Time Employees
694
Sector
Consumer non-durables
Industry
Food: meat/fish/dairy
Address
51 Shortland Street Auckland AU New Zealand 1010
IPO Date
Apr 21, 2004
Business
The a2 Milk Company Limited (ATM.NZ) is a dairy nutritionals company that specializes in premium branded products containing only the A2 beta-casein protein type, sourced from cows that naturally produce milk free of the A1 protein; it offers fresh liquid milk, including the market-leading a2 Milk brand in Australia; infant milk formula (IMF) such as a2 Platinum, a2 Genesis, and a2 Gentle Gold under English label and China label registrations; kids fortified functional milk powder; other nutritional products for infants, children, and seniors; and nutritional ingredients, while providing royalty, licensing, and rent services. The company operates in key markets including Australia and New Zealand, Greater China (its primary revenue source), North America, and emerging markets, with trading activities focused on these regions. Founded in 2000 and headquartered in Auckland, New Zealand, it maintains dual listings on the NZX and ASX, with additional offices in Sydney, Melbourne, and Boulder, Colorado. In recent developments, the company acquired Yashili New Zealand Dairy Co. Limited, including the Pokeno manufacturing facility in Waikato, New Zealand, from Yashili International Group (a China Mengniu Dairy subsidiary) for NZ$282 million on a debt- and cash-free basis in August 2025, securing two existing China label IMF registrations and planning a further NZ$100 million investment to expand capacity, create over 100 jobs, and support ultra-premium organic IMF with DHA and ARA; it simultaneously divested its 75% stake (and facilitated the sale of China Animal Husbandry Group's 25%) in Mataura Valley Milk to Open Country Dairy for net proceeds of approximately NZ$100 million, optimizing its manufacturing footprint while retaining supply access via commercial agreement. These transactions advance its supply chain transformation strategy, reported alongside FY2025 results showing net profit of NZ$202.9 million (up 21%), EBITDA of NZ$274.3 million (up 17.1%), and IMF sales growth of 10%, driven by 17% English label expansion and China label growth. The company targets FY2026 operating margins of 15-16% and continues launching products in infant, kids, and seniors nutrition segments, including entry into Vietnam's IMF market, while initiating shareholder returns with first-ever dividends totaling 20 cents per share for FY2025.

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