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

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A2M

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

$8.05

24 Mar
2025

-0.080

OPEN

$8.10

-0.98%

HIGH

$8.17

2,544,506

LOW

$7.97

TARGET
$7.295 -9.4% downside
Franking for last dividend paid out: 100%
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) 24.6 xxx
DPS (cps) 16.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 32.6 xxx
Dividend Yield 2.1% xxx
Div Pay Ratio(%) 67.5% 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 © 2025 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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

18/02/2025

1

Buy

-

-

a2 Milk Co reported stronger-than-anticipated results for 1H25, according to UBS, with "solid" English label revenue growth and robust liquid milk sales, the analyst explains.

The analyst raises EPS forecasts by 10% and 7% for FY25/FY26 due to higher liquid milk and infant formula sales, somewhat offset by higher corporate costs.

UBS retains a Buy rating. Target lifts to NZ$8.68 from NZ$7.55.

FORECAST
UBS forecasts a full year FY25 dividend of 18.21 cents and EPS of 26.40 cents.
UBS forecasts a full year FY26 dividend of 21.85 cents and EPS of 30.95 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

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

18/02/2025

3

Market Weight

$7.06

-12.30%

Following stronger-than-expected first half results, Wilsons raises its target for a2 Milk Co to $7.06 from $5.75, driven by higher revenue growth, increased interest income, and a shift in first-half marketing spend to the second half.

Revenue exceeded the analysts' forecast by 3% driven by stronger sales in China, Other Asia and the US, and profit was a 17% beat.

The broker highlights market share gains, new product launches, and continued strategic execution by management but maintains a Market Weight rating due to the supply chain transformation and challenges in the infant formula market.

FORECAST
Wilsons forecasts a full year FY25 dividend of 16.39 cents and EPS of 25.49 cents.
Wilsons forecasts a full year FY26 dividend of 18.21 cents and EPS of 27.86 cents.
Access Extra Coverage Research History >

A2M STOCK CHART

FNArena News on A2M

1
Weekly Ratings, Targets, Forecast Changes – 21-03-25

Mar 24 2025 - Weekly Reports
2
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
3
February In Review: Sentiment Soured, Deeply

Mar 05 2025 - Australia
4
Rudi’s View: February’s Reality Check

Mar 05 2025 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 21-02-25

Feb 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