Cash flow Fonterra Co-operative Group Limited

Stocks

FCG

NZFCGE0001S7

Food Processing

End-of-day quote New Zealand S.E. Other stock markets 2026-06-12			5-day change	1st Jan Change
4.420 ^NZD	0.00%		-0.90%	+11.43%

Jun. 12	New Zealand Shares Rise; Fonterra Co-operative Group Appoints Elisa Giusti Chief Growth, Strategy Officer	MT
Jun. 11	Fonterra Co-operative Group Appoints Elisa Giusti Chief Growth, Strategy Officer	MT

165bb0ed.5zOP0Q2cUxwAYEQ1mxpHJVrAxaB49ing5KJAa7WGaLQ.qGP6syClKmp5UBdZ1S0Cbhenp5lNgE6NiskUWt3xOtCABNmaYNodLDk4Nw

Published financial data: FONTERRA CO-OPERATIVE GROUP LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: July	2021	2022	2023	2024	2025
Revenues	20.56B	22.95B	24.58B	22.82B	24.11B
Total Revenues	20.56B	22.95B	24.58B	22.82B	24.11B
Cost of Goods Sold, Total	17.58B	19.74B	20.4B	19B	20.83B
Gross Profit	2.98B	3.22B	4.18B	3.82B	3.28B
Selling General & Admin Expenses, Total	1.86B	1.93B	1.82B	1.98B	1.54B
Depreciation & Amortization - (IS)	-	-	180M	187M	166M
Other Operating Expenses	257M	58M	181M	73M	32M
Other Operating Expenses, Total	2.12B	1.99B	2.18B	2.24B	1.73B
Operating Income	866M	1.23B	2B	1.58B	1.55B
Interest Expense, Total	-261M	-208M	-256M	-199M	-198M
Interest And Investment Income	9M	14M	22M	12M	13M
Net Interest Expenses	-252M	-194M	-234M	-187M	-185M
Income (Loss) On Equity Invest.	5M	10M	-	-	-
Currency Exchange Gains (Loss)	25M	-182M	-	16M	9M
Other Non Operating Income (Expenses)	-	-	23M	30M	1M
EBT, Excl. Unusual Items	644M	864M	1.79B	1.44B	1.38B
Restructuring Charges	-9M	-	-	-	-
Impairment of Goodwill	-	-	-121M	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-34M	-127M	-34M	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	635M	830M	1.54B	1.4B	1.38B
Income Tax Expense	103M	169M	303M	235M	372M
Earnings From Continuing Operations	532M	661M	1.24B	1.17B	1B
Earnings Of Discontinued Operations	67M	-78M	336M	-40M	75M
Net Income to Company	599M	583M	1.58B	1.13B	1.08B
Minority Interest	-21M	1M	-	-	-
Net Income - (IS)	578M	584M	1.58B	1.13B	1.08B
Net Income to Common Incl Extra Items	578M	584M	1.58B	1.13B	1.08B
Net Income to Common Excl. Extra Items	511M	662M	1.24B	1.17B	1B
Per Share Items
Net EPS - Basic	0.24	0.24	0.65	0.47	0.45
Basic EPS - Continuing Operations	0.21	0.27	0.51	0.48	0.42
Basic Weighted Average Shares Outstanding	2.42B	2.42B	2.42B	2.41B	2.41B
Net EPS - Diluted	0.24	0.24	0.65	0.47	0.45
Diluted EPS - Continuing Operations	0.21	0.27	0.51	0.48	0.42
Diluted Weighted Average Shares Outstanding	2.42B	2.42B	2.42B	2.41B	2.41B
Normalized Basic EPS	0.16	0.22	0.46	0.37	0.36
Normalized Diluted EPS	0.16	0.22	0.46	0.37	0.36
Dividend Per Share	0.13	0.13	0.32	0.27	0.38
Payout Ratio	27.16	55.31	25.55	78.37	92.4
Supplemental Items
EBITDA	1.3B	1.67B	2.48B	2.03B	2.08B
EBITA	868M	1.23B	2B	1.58B	1.55B
EBIT	866M	1.23B	2B	1.58B	1.55B
EBITDAR	1.33B	1.7B	-	-	-
Effective Tax Rate - (Ratio)	16.22	20.36	19.62	16.75	27.03
Total Current Taxes	94M	109M	95M	113M	366M
Total Deferred Taxes	9M	60M	208M	122M	6M
Normalized Net Income	382M	541M	1.12B	898M	860M
Interest Capitalized	5M	7M	-	-	-
Interest on Long-Term Debt	17M	13M	13M	12M	9M
Supplemental Operating Expense Items
Advertising Expense	-	-	219M	240M	98M
Selling and Marketing Expenses	1.05B	1.1B	482M	508M	225M
General and Administrative Expenses	811M	831M	372M	491M	362M
Research And Development Expense From Footnotes	110M	115M	119M	107M	103M
Net Rental Expense, Total	23M	24M	-	-	-
Imputed Operating Lease Interest Expense	8.77M	7.95M	-	-	-
Imputed Operating Lease Depreciation	14.23M	16.05M	-	-	-

Fiscal Period: July	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	985M	288M	1.82B	540M	309M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	985M	288M	1.82B	540M	309M
Accounts Receivable, Total	1.68B	2.36B	2.07B	1.83B	1.32B
Other Receivables	98M	114M	346M	182M	70M
Total Receivables	1.78B	2.48B	2.42B	2.02B	1.39B
Inventory	3.77B	5.01B	4.35B	4.4B	4.2B
Prepaid Expenses	55M	70M	102M	130M	90M
Other Current Assets, Total	806M	888M	805M	351M	4.16B
Total Current Assets	7.39B	8.73B	9.5B	7.44B	10.16B
Gross Property Plant And Equipment	12.05B	12.34B	12.2B	12.66B	11.51B
Accumulated Depreciation	-5.58B	-5.87B	-5.85B	-6.26B	-5.91B
Net Property Plant And Equipment	6.46B	6.46B	6.34B	6.4B	5.6B
Long-term Investments	91M	113M	116M	189M	172M
Goodwill	529M	-	-	320M	66M
Other Intangibles, Total	1.71B	2.22B	1.82B	1.46B	752M
Loans Receivable Long-Term	163M	154M	-	-	-
Deferred Tax Assets Long-Term	460M	551M	182M	208M	113M
Other Long-Term Assets, Total	530M	553M	641M	655M	671M
Total Assets	17.34B	18.78B	18.6B	16.68B	17.53B
Liabilities
Accounts Payable, Total	3.51B	4B	3.91B	3.74B	3.7B
Accrued Expenses, Total	332M	368M	344M	369M	290M
Short-term Borrowings	20M	31M	102M	42M	30M
Current Portion of Long-Term Debt	719M	262M	697M	955M	405M
Current Portion of Leases	99M	94M	88M	77M	65M
Current Income Taxes Payable	87M	107M	118M	107M	391M
Other Current Liabilities	945M	1.66B	2.01B	554M	1.47B
Total Current Liabilities	5.71B	6.52B	7.26B	5.85B	6.36B
Long-Term Debt	3.83B	4.56B	2.8B	2.02B	2.37B
Long-Term Leases	424M	344M	357M	336M	295M
Deferred Tax Liability Non Current	25M	50M	36M	135M	34M
Other Non Current Liabilities	480M	407M	180M	166M	127M
Total Liabilities	10.47B	11.88B	10.63B	8.5B	9.19B
Common Stock, Total	5.89B	5.89B	5.08B	5.08B	5.08B
Retained Earnings	1.35B	1.61B	2.77B	2.96B	3B
Treasury Stock	-	-	-5M	-14M	-14M
Comprehensive Income and Other	-379M	-569M	59M	75M	180M
Total Common Equity	6.86B	6.93B	7.91B	8.1B	8.24B
Minority Interest	6M	-27M	62M	76M	93M
Total Equity	6.87B	6.91B	7.97B	8.18B	8.34B
Total Liabilities And Equity	17.34B	18.78B	18.6B	16.68B	17.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.42B	2.42B	2.41B	2.41B	2.41B
ECS Total Common Shares Outstanding	2.42B	2.42B	2.41B	2.41B	2.41B
Book Value / Share	2.84	2.87	3.28	3.37	3.43
Tangible Book Value	4.62B	4.72B	6.08B	6.31B	7.43B
Tangible Book Value Per Share	1.91	1.95	2.52	2.62	3.09
Total Debt	5.09B	5.29B	4.04B	3.43B	3.17B
Net Debt	4.11B	5B	2.22B	2.89B	2.86B
Debt Equivalent Oper. Leases	184M	192M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	6M	-27M	62M	76M	93M
Equity Method Investments, Total	91M	113M	116M	128M	108M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	678M	802M	692M	-	-
Inventories - Finished Goods, Total	3.16B	4.3B	3.77B	-	-
Land - (BS)	350M	368M	378M	384M	338M
Buildings, Total	2.67B	2.71B	2.64B	2.74B	2.4B
Machinery, Total	8.17B	8.36B	8.29B	8.73B	7.97B
Full Time Employees	19.35K	19.61K	17.99K	16.44K	16.22K
Assets under Capital Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	18M	12M	23M	12M	6M

Fiscal Period: July	2021	2022	2023	2024	2025
Net Income	578M	584M	1.58B	1.13B	1.08B
Depreciation & Amortization - CF	544M	543M	568M	529M	532M
Amortization of Goodwill and Intangible Assets - (CF)	2M	3M	2M	7M	-
Depreciation & Amortization, Total	546M	546M	570M	536M	532M
Amortization of Deferred Charges, Total - (CF)	96M	89M	92M	91M	-
(Gain) Loss From Sale Of Asset	-	-42M	-341M	-	-
(Gain) Loss on Sale of Investments - (CF)	9M	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	252M	56M	-
Net Cash From Discontinued Operations	56M	9M	-	66M	95M
Other Operating Activities, Total	80M	605M	161M	324M	630M
Change In Accounts Receivable	11M	-821M	-31M	380M	-122M
Change In Inventories	-556M	-1.22B	663M	-109M	-798M
Change In Accounts Payable	437M	494M	302M	-136M	589M
Change in Other Net Operating Assets	-63M	-49M	-63M	-23M	-45M
Cash from Operations	1.19B	193M	3.18B	2.31B	1.96B
Capital Expenditure	-469M	-484M	-598M	-577M	-650M
Sale of Property, Plant, and Equipment	34M	19M	-	-	-
Cash Acquisitions	-	-	-	-	-
Divestitures	638M	26M	1.08B	-	8M
Sale (Purchase) of Intangible assets	-80M	-72M	-72M	-73M	-50M
Investment in Marketable and Equity Securities, Total	110M	-	-44M	-73M	-20M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-10M	-6M	-238M	-7M	14M
Cash from Investing	223M	-517M	132M	-730M	-698M
Long-Term Debt Issued, Total	2.4B	3.92B	2.7B	2.9B	5.55B
Total Debt Issued	2.4B	3.92B	2.7B	2.9B	5.55B
Long-Term Debt Repaid, Total	-3.14B	-3.63B	-4.21B	-3.81B	-5.74B
Total Debt Repaid	-3.14B	-3.63B	-4.21B	-3.81B	-5.74B
Repurchase of Common Stock	-	-1M	-11M	-808M	-
Common Dividends Paid	-157M	-323M	-403M	-884M	-997M
Common & Preferred Stock Dividends Paid	-157M	-323M	-403M	-884M	-997M
Other Financing Activities, Total	-295M	-314M	74M	-232M	-198M
Cash from Financing	-1.19B	-353M	-1.86B	-2.84B	-1.39B
Foreign Exchange Rate Adjustments	-23M	-24M	11M	-	4M
Net Change in Cash	202M	-701M	1.47B	-1.25B	-125M
Supplemental Items
Cash Interest Paid	308M	297M	336M	218M	197M
Cash Income Tax Paid (Refund)	84M	137M	191M	89M	91M
Levered Free Cash Flow	1.1B	-15.25M	2.16B	-31.12M	-1.18B
Unlevered Free Cash Flow	1.26B	115M	2.32B	93.25M	-1.06B
Change In Net Working Capital	-626M	733M	-1.07B	870M	1.86B
Net Debt Issued / Repaid	-740M	285M	-1.52B	-911M	-196M

Fiscal Period: July	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.07	4.26	6.7	5.59	5.67
Return on Total Capital	4.38	6.37	10.34	8.35	8.39
Return On Equity %	7.84	9.6	16.69	14.47	12.16
Return on Common Equity	7.54	9.6	16.73	14.6	12.29
Margin Analysis
Gross Profit Margin %	14.51	14.01	17.01	16.75	13.62
SG&A Margin	9.05	8.4	7.39	8.69	6.37
EBITDA Margin %	6.34	7.28	10.1	8.91	8.64
EBITA Margin %	4.22	5.37	8.16	6.94	6.43
EBIT Margin %	4.21	5.36	8.15	6.91	6.43
Income From Continuing Operations Margin %	2.59	2.88	5.05	5.12	4.16
Net Income Margin %	2.81	2.54	6.42	4.94	4.48
Net Avail. For Common Margin %	2.48	2.88	5.05	5.12	4.16
Normalized Net Income Margin	1.86	2.36	4.56	3.94	3.57
Levered Free Cash Flow Margin	5.33	-0.07	8.78	-0.14	-4.9
Unlevered Free Cash Flow Margin	6.13	0.5	9.43	0.41	-4.39
Asset Turnover
Asset Turnover	1.17	1.27	1.32	1.29	1.41
Fixed Assets Turnover	3.15	3.55	3.84	3.58	4.02
Receivables Turnover (Average Receivables)	12.41	11.36	11.08	11.68	15.27
Inventory Turnover (Average Inventory)	5	4.5	4.3	4.36	4.84
Short Term Liquidity
Current Ratio	1.29	1.34	1.31	1.27	1.6
Quick Ratio	0.48	0.42	0.58	0.44	0.27
Operating Cash Flow to Current Liabilities	0.21	0.03	0.44	0.4	0.31
Days Sales Outstanding (Average Receivables)	29.42	32.14	32.94	31.34	23.9
Days Outstanding Inventory (Average Inventory)	73.02	81.12	84.94	83.9	75.44
Average Days Payable Outstanding	67.17	65.31	73.46	73.29	65.9
Cash Conversion Cycle (Average Days)	35.27	47.95	44.42	41.95	33.43
Long Term Solvency
Total Debt/Equity	74.13	76.56	50.74	41.96	37.99
Total Debt / Total Capital	42.57	43.36	33.66	29.56	27.53
LT Debt/Equity	61.93	70.95	39.61	28.82	32
Long-Term Debt / Total Capital	35.57	40.19	26.28	20.3	23.19
Total Liabilities / Total Assets	60.39	63.23	57.16	50.99	52.42
EBIT / Interest Expense	3.32	5.91	7.82	7.93	7.83
EBITDA / Interest Expense	5.41	8.54	10.05	10.62	10.52
(EBITDA - Capex) / Interest Expense	3.61	6.21	7.71	7.72	7.24
Total Debt / EBITDA	3.61	2.98	1.57	1.62	1.52
Net Debt / EBITDA	2.91	2.81	0.86	1.37	1.37
Total Debt / (EBITDA - Capex)	5.4	4.09	2.05	2.23	2.21
Net Debt / (EBITDA - Capex)	4.36	3.87	1.12	1.88	2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.4	11.61	12.23	-7.15	18.06
Gross Profit, 1 Yr. Growth %	-2.04	7.77	43.73	-8.59	9.54
EBITDA, 1 Yr. Growth %	0.69	29.11	73.39	-23.71	12.23
EBITA, 1 Yr. Growth %	-0.57	43.54	101.91	-21.18	16.18
EBIT, 1 Yr. Growth %	-0.57	43.52	102.32	-21.53	16.18
Earnings From Cont. Operations, 1 Yr. Growth %	-33.75	24.25	99.84	-5.88	-4.11
Net Income, 1 Yr. Growth %	-15.74	1.04	170.5	-28.47	-4.34
Normalized Net Income, 1 Yr. Growth %	2.38	43.93	125.13	-19.81	16.02
Diluted EPS Before Extra, 1 Yr. Growth %	-38.47	29.53	100.19	-5.67	-4.06
Accounts Receivable, 1 Yr. Growth %	2.75	40.6	-12.19	-11.57	-27.86
Inventory, 1 Yr. Growth %	15.24	32.95	-15.58	2.3	-4.56
Net Property, Plant and Equip., 1 Yr. Growth %	-1.67	0	-1.89	0.9	-12.58
Total Assets, 1 Yr. Growth %	-3.21	8.3	-0.96	-10.33	5.08
Tangible Book Value, 1 Yr. Growth %	3.8	1.05	27.24	3.81	17.63
Common Equity, 1 Yr. Growth %	2.56	1.02	14.03	2.44	1.8
Cash From Operations, 1 Yr. Growth %	-19.97	-83.84	-3.16K	-34.25	-15.26
Capital Expenditures, 1 Yr. Growth %	19.95	3.2	24.58	-3.51	12.65
Levered Free Cash Flow, 1 Yr. Growth %	-649.25	-101.46	-942.51	-101.42	313.6
Unlevered Free Cash Flow, 1 Yr. Growth %	-77.65K	-90.5	-2.56K	-96.04	543.05
Dividend Per Share, 1 Yr. Growth %	300.3	0	141.71	-17.23	42.48
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.35	6.38	9.33	2.08	-0.96
Gross Profit, 2 Yr. CAGR %	1.33	2.75	18.37	14.62	-11.36
EBITDA, 2 Yr. CAGR %	-1.24	13.63	38.47	19.15	-11.59
EBITA, 2 Yr. CAGR %	-0.63	18.84	52.78	26.34	-12.18
EBIT, 2 Yr. CAGR %	-0.63	18.83	52.88	26.25	-12.18
Earnings From Cont. Operations, 2 Yr. CAGR %	108.82	-9.27	52.73	37.14	-10.05
Net Income, 2 Yr. CAGR %	1.41	-7.73	65.18	39.1	-17.28
Normalized Net Income, 2 Yr. CAGR %	5.66	20.49	72.62	34.36	-12.37
Diluted EPS Before Extra, 2 Yr. CAGR %	162.69	-10.73	55.96	37.42	-9.95
Accounts Receivable, 2 Yr. CAGR %	-1.48	20.19	11.11	-11.88	-20.13
Inventory, 2 Yr. CAGR %	9.08	23.78	7.42	-7.5	-1.19
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.36	-0.84	-0.95	-0.5	-6.08
Total Assets, 2 Yr. CAGR %	0.16	2.39	3.57	-5.76	-2.93
Tangible Book Value, 2 Yr. CAGR %	20.93	2.93	14.15	14.93	10.51
Common Equity, 2 Yr. CAGR %	9.18	1.78	7.33	8.08	2.12
Cash From Operations, 2 Yr. CAGR %	3.11	-64.03	63.25	371.6	-25.36
Capital Expenditures, 2 Yr. CAGR %	-9.92	11.26	12.92	9.64	4.26
Levered Free Cash Flow, 2 Yr. CAGR %	170.67	-72.37	43.73	-65.14	-26.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	76.59	740.33	38.54	-0.53	-32.95
Dividend Per Share, 2 Yr. CAGR %	-	100.08	55.47	41.45	8.6
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.21	6.03	6.62	3.53	3.26
Gross Profit, 3 Yr. CAGR %	-1.88	3.44	11.13	8.6	4.14
EBITDA, 3 Yr. CAGR %	0.49	7.74	24.23	16.22	13.3
EBITA, 3 Yr. CAGR %	1.26	11.94	31.94	22.65	16.03
EBIT, 3 Yr. CAGR %	1.3	11.94	31.99	22.57	16.14
Earnings From Cont. Operations, 3 Yr. CAGR %	39.49	75.64	15.62	29.97	17.37
Net Income, 3 Yr. CAGR %	37.78	1.29	31.98	24.97	22.78
Normalized Net Income, 3 Yr. CAGR %	47.81	16.55	44.32	33.69	20.01
Diluted EPS Before Extra, 3 Yr. CAGR %	32.15	107.53	14.39	31.9	17.52
Accounts Receivable, 3 Yr. CAGR %	-5.91	10.92	8.25	2.97	-17.57
Inventory, 3 Yr. CAGR %	8.89	16.52	9.97	5.36	-6.53
Net Property, Plant and Equip., 3 Yr. CAGR %	-1.72	-0.24	-1.19	-0.34	-4.7
Total Assets, 3 Yr. CAGR %	-1.42	2.81	1.26	-1.29	-2.28
Tangible Book Value, 3 Yr. CAGR %	15.59	14.29	10.96	10.59	15.82
Common Equity, 3 Yr. CAGR %	3.34	6.39	5.71	5.68	5.95
Cash From Operations, 3 Yr. CAGR %	-8.29	-44.4	28.72	24.66	166.12
Capital Expenditures, 3 Yr. CAGR %	-19.62	-5.74	15.21	7.15	10.63
Levered Free Cash Flow, 3 Yr. CAGR %	35.27	-53.3	121.06	-69	66.51
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.65	-34.27	1.03K	-57.42	123.95
Dividend Per Share, 3 Yr. CAGR %	25.96	-	113.09	26.01	41.79
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.64	3.6	3.76	3.46	3.52
Gross Profit, 5 Yr. CAGR %	-3.88	-0.3	5.77	5.63	1.52
EBITDA, 5 Yr. CAGR %	-6.18	1.98	14.08	8.74	9.97
EBITA, 5 Yr. CAGR %	-8.17	2.67	19.12	12.51	12.18
EBIT, 5 Yr. CAGR %	-8.15	2.69	19.18	12.47	12.23
Earnings From Cont. Operations, 5 Yr. CAGR %	-8.6	-2.36	44.64	57.11	4.57
Net Income, 5 Yr. CAGR %	-6.53	-4.47	48.15	14.95	9.48
Normalized Net Income, 5 Yr. CAGR %	-6.38	3.17	56.81	21.32	18.21
Diluted EPS Before Extra, 5 Yr. CAGR %	-8.94	-2.15	41.2	73.75	3.95
Accounts Receivable, 5 Yr. CAGR %	5.26	3.14	0.56	1.16	-4.15
Inventory, 5 Yr. CAGR %	9.42	14.07	8.3	6.84	5.17
Net Property, Plant and Equip., 5 Yr. CAGR %	0.93	0.23	-1.41	-0.35	-3.18
Total Assets, 5 Yr. CAGR %	0.26	1.03	0.55	-0.71	-0.44
Tangible Book Value, 5 Yr. CAGR %	4.45	3.22	15.24	14.85	10.78
Common Equity, 5 Yr. CAGR %	0.01	-0.59	4.92	7.06	4.26
Cash From Operations, 5 Yr. CAGR %	-18.29	-32.49	15.5	15.55	5.61
Capital Expenditures, 5 Yr. CAGR %	-13.24	-9.08	-7.91	-0.03	10.7
Levered Free Cash Flow, 5 Yr. CAGR %	7.37	-45.46	37.24	-26.96	42.71
Unlevered Free Cash Flow, 5 Yr. CAGR %	2.91	9.51	26.43	-25.42	265.41
Dividend Per Share, 5 Yr. CAGR %	-12.95	-12.95	37.02	-	62.73