A2 MILK COMPANY LIMITED (A2M)
Share Price Analysis and Chart

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A2M - A2 MILK COMPANY LIMITED

FNArena Sector : Dairy
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 0.27
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

The a2 Milk Company is dual listed on both the NZX and ASX. It produces and sells A1 protein-free milk and related products like infant formula. It was first listed in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.63

20 Dec
2024

-0.170

OPEN

$5.79

-2.93%

HIGH

$5.82

2,113,693

LOW

$5.62

TARGET
$6.14 9.1% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
BFC . BGA . BUB . FSF . NUC . NUC . SM1 . TFL .
FNARENA'S MARKET CONSENSUS FORECASTS
A2M: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 23.6 xxx
DPS (cps) 14.2 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 23.9 xxx
Dividend Yield 2.5% xxx
Div Pay Ratio(%) 60.2% 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: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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 © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx21.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,548.0 M
Book Value Per Share xxxxxxxxxxxxxxx160.1
Net Operating Cash Flow xxxxxxxxxxxxxxx236.6 M
Net Profit Margin xxxxxxxxxxxxxxx10.01 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx14.03 %
Return on Invested Capital xxxxxxxxxxxxxxx13.24 %
Return on Assets xxxxxxxxxxxxxxx10.11 %
Return on Equity xxxxxxxxxxxxxxx14.03 %
Return on Total Capital xxxxxxxxxxxxxxx16.33 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx220.8 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 xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx55 M
Total Debt xxxxxxxxxxxxxxx60 M
Goodwill - Gross xxxxxxxxxxxxxxx93 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx884 M
Price To Book Value xxxxxxxxxxxxxxx4.05

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx19.0 M
Capex % of Sales xxxxxxxxxxxxxxx1.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx839 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx517 M
Research & Development xxxxxxxxxxxxxxx4 M
Investments - Total xxxxxxxxxxxxxxx40 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

0.4

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

25/11/2024

3

Hold

$6.00

6.57%

Management commentary at a2 Milk Co's AGM revealed Mataura Valley Milk external sales are significantly above plan, supported by rising commodity prices, highlights Bell Potter.

English label IMF sales are slightly ahead of plan, while China label sales are tracking in line with plan, note the analysts.

The broker observes the FY25 earnings (EBITDA) margin is expected to remain broadly in line with FY24, consistent with previous guidance.

The target price is reduced to $6.00 from $6.10. Hold rating maintained.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 14.22 cents and EPS of 22.84 cents.
Bell Potter forecasts a full year FY26 dividend of 16.05 cents and EPS of 25.23 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

-

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

2

xxxxxxxxxx

-

xx.xx%

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Wilsons

27/11/2024

3

Market Weight

$5.75

2.13%

Wilsons notes a better-than-expected trading update from a2 Milk Co, along with the introduction of a dividend policy.

External Mataura Valley Milk ingredient sales and higher global dairy prices supported the results, with English Label and Liquid Milk sales exceeding expectations.

The dividend policy specifies a payout ratio of 60%-80% of net profit, with the first dividend expected in February 2025.

The target price decreases to $5.75 from $5.97, and the Market Weight rating is retained.

FORECAST
Wilsons forecasts a full year FY25 dividend of 16.05 cents and EPS of 23.12 cents.
Wilsons forecasts a full year FY26 dividend of 17.43 cents and EPS of 25.32 cents.
Access Extra Coverage Research History >

A2M STOCK CHART

FNArena News on A2M

1
Australian Broker Call *Extra* Edition – Nov 28, 2024

Nov 28 2024 - Daily Market Reports
2
a2 Milk Starts Paying Dividends

Nov 27 2024 - Australia
3
Australian Broker Call *Extra* Edition – Nov 27, 2024

Nov 27 2024 - Daily Market Reports
4
Next Week At A Glance – 25-29 Nov 2024

Nov 22 2024 - Weekly Reports
5
Weekly Ratings, Targets, Forecast Changes – 01-11-24

Nov 04 2024 - Weekly Reports

Latest Dairy News

1
a2 Milk Starts Paying Dividends

Nov 27 2024 - Australia
2
Buy Call For a2 Milk

Mar 21 2024 - Technicals
3
A2 Milking It

Feb 21 2024 - Australia
4
Treasure Chest: Bega Cheese

Oct 18 2022 - Treasure Chest
5
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
6
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
7
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
8
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
9
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
10
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps