SYNLAIT MILK LIMITED (SM1)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

SM1

SM1 - SYNLAIT MILK LIMITED

FNArena Sector : Dairy
Year End: July
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: -42.46
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.68

31 Mar
2025

0.030

OPEN

$0.63

4.62%

HIGH

$0.69

45,305

LOW

$0.63

TARGET
$0.92 35.3% upside
OTHER COMPANIES IN THE SAME SECTOR
A2M . BFC . BGA . BUB . FSF . NUC . NUC . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
SM1: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 2.2 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 31.6 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 2.89%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 13.99

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-76.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,511.2 M
Book Value Per Share xxxxxxxxxxxxxxx251.7
Net Operating Cash Flow xxxxxxxxxxxxxxx-94.2 M
Net Profit Margin xxxxxxxxxxxxxxx-11.13 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-26.27 %
Return on Invested Capital xxxxxxxxxxxxxxx-19.77 %
Return on Assets xxxxxxxxxxxxxxx-11.13 %
Return on Equity xxxxxxxxxxxxxxx-26.27 %
Return on Total Capital xxxxxxxxxxxxxxx-6.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-120.5 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx342 M
Long Term Debt xxxxxxxxxxxxxxx217 M
Total Debt xxxxxxxxxxxxxxx559 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx0.10

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx28.5 M
Capex % of Sales xxxxxxxxxxxxxxx1.89 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,476 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx108 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

25/03/2025

5

Underperform

-

-

Macquarie notes Synlait Milk's 1H25 EBITDA came in at the top end of the NZ$58-63m guidance, up 217%, but the company cautioned the performance won't be repeated in 2H.

The boost to 1H mainly came from volume and margin improvement in the advanced nutrition business which the broker expects to continue in 2H along with growth in Dairyworks. Headwinds are expected from unfavourable stream returns and exchange rate shifts.

The broker notes the net debt position of NZ$250-300m in FY25 is higher than previous target of NZ$200-250m range but is technically NZ$25m better, though confusing to understand.

The broker cut FY25/26 EPS forecasts by -20% and -4% respectively on model changes and earnings update, partially offset by higher risk-free return of 4.5% vs 4.25%.

Target price cut to NZ44c from NZ47c. Underperform maintained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.55 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.55 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

27/03/2025

4

Downgrade to Underweight from Neutral

-

-

Synlait Milk's 1H25 EBITDA came at the top end of the guidance, and net profit was NZ$4.8m vs -NZ$96m loss for the year before. 

Jarden notes the improved result was due to higher demand for advanced nutrition, improved ingredients stream returns and forex benefits.

The broker raised its FY25 EBITDA forecast by 59% to NZ$98m and FY26 by 26% to NZ$103m. The broker also cut the risk premium to the cost of equity to 3.5% from 5.0% on lower debt.

Target price rises to NZ68c from NZ45c. Rating downgraded to Underweight from Neutral on strong share price gains.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.64 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.46 cents.
Access Extra Coverage Research History >

SM1 STOCK CHART

FNArena News on SM1

1
FNArena Corporate Results Monitor – 28-03-2025

Mar 28 2025 - Australia
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-03-25

Mar 28 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Mar 27, 2025

Mar 27 2025 - Daily Market Reports
4
A2 Milks It

Feb 18 2025 - Australia
5
Next Week At A Glance – 27-31 Jan 2025

Jan 24 2025 - Weekly Reports

Latest Dairy News

1
A2 Milks It

Feb 18 2025 - Australia
2
a2 Milk Starts Paying Dividends

Nov 27 2024 - Australia
3
Buy Call For a2 Milk

Mar 21 2024 - Technicals
4
A2 Milking It

Feb 21 2024 - Australia
5
Treasure Chest: Bega Cheese

Oct 18 2022 - Treasure Chest
6
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
7
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
8
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
9
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
10
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia