THE A2 MILK COMPANY LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6.5 NZD | -0.31% |
|
+4.67% | +41.30% |
| Mar. 11 | Australian shares fall as miners, banks weigh | RE |
| Feb. 19 | New Zealand Shares Tumble; A2Milk Posts Higher Fiscal H1 Revenue | MT |
Valuation
| Fiscal Period: Junio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,783 | 14,937 | 4,788 | 3,666 | 3,863 | 4,699 | - | - |
| Enterprise Value (EV) 1 | 10,318 | 14,100 | 3,929 | 2,886 | 3,142 | 3,847 | 3,705 | 3,539 |
| P/E ratio | 37.8 x | 38.5 x | 59.3 x | 29.9 x | 25.3 x | 27.9 x | 24.5 x | 21.2 x |
| Yield | - | - | - | - | - | - | 0.33% | 0.9% |
| Capitalization / Revenue | 8.27 x | 8.62 x | 3.97 x | 2.54 x | 2.43 x | 2.82 x | 2.62 x | 2.44 x |
| EV / Revenue | 7.91 x | 8.14 x | 3.26 x | 2 x | 1.97 x | 2.31 x | 2.06 x | 1.84 x |
| EV / EBITDA | 24.9 x | 25.7 x | 29.4 x | 14.7 x | 14.3 x | 16.5 x | 13.7 x | 11.4 x |
| EV / FCF | 36 x | 33.4 x | 47.9 x | 14.5 x | 31 x | 22.3 x | 20.5 x | 16 x |
| FCF Yield | 2.78% | 2.99% | 2.09% | 6.89% | 3.22% | 4.48% | 4.88% | 6.24% |
| Price to Book | 13.7 x | 13.2 x | 4.42 x | 3.11 x | 3.37 x | 3.66 x | 3.24 x | 2.88 x |
| Nbr of stocks (in thousands) | 735,048 | 739,830 | 743,411 | 743,657 | 721,976 | 722,935 | - | - |
| Reference price 2 | 14.67 | 20.19 | 6.440 | 4.930 | 5.350 | 6.500 | 6.500 | 6.500 |
| Announcement Date | 8/21/19 | 8/18/20 | 8/25/21 | 8/28/22 | 8/20/23 | - | - | - |
1NZD in Million2NZD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Junio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,304 | 1,732 | 1,205 | 1,444 | 1,591 | 1,665 | 1,796 | 1,928 |
| EBITDA 1 | 413.6 | 549.7 | 133.8 | 196.2 | 219.3 | 232.8 | 269.9 | 311.4 |
| EBIT 1 | 411.6 | 545.3 | 126.4 | 177.4 | 201.2 | 213.2 | 248.7 | 288.2 |
| Operating Margin | 31.55% | 31.47% | 10.49% | 12.29% | 12.65% | 12.8% | 13.85% | 14.95% |
| Earnings before Tax (EBT) 1 | 415.7 | 553.4 | 119.3 | 181.4 | 222.9 | 246.7 | 290.2 | 333.8 |
| Net income 1 | 287.7 | 385.8 | 80.66 | 122.6 | 155.6 | 168.5 | 196.6 | 226.6 |
| Net margin | 22.06% | 22.27% | 6.69% | 8.49% | 9.78% | 10.12% | 10.95% | 11.75% |
| EPS 2 | 0.3878 | 0.5239 | 0.1086 | 0.1649 | 0.2113 | 0.2328 | 0.2656 | 0.3062 |
| Free Cash Flow 1 | 286.4 | 421.6 | 82.1 | 198.9 | 101.2 | 172.4 | 180.7 | 220.7 |
| FCF margin | 21.96% | 24.34% | 6.81% | 13.77% | 6.36% | 10.36% | 10.06% | 11.45% |
| FCF Conversion (EBITDA) | 69.25% | 76.7% | 61.36% | 101.35% | 46.15% | 74.08% | 66.97% | 70.88% |
| FCF Conversion (Net income) | 99.54% | 109.28% | 101.79% | 162.17% | 65.03% | 102.34% | 91.91% | 97.42% |
| Dividend per Share 2 | - | - | - | - | - | - | 0.0214 | 0.0583 |
| Announcement Date | 8/21/19 | 8/18/20 | 8/25/21 | 8/28/22 | 8/20/23 | - | - | - |
1NZD in Million2NZD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 806.3 | 926.2 | 676.5 | 528.5 | 658.8 | 784.9 | 782 | 809.1 | 811.1 | 830.3 | 834.2 | 875.6 |
| EBITDA | 263.2 | 286.5 | 183 | -49.23 | 97.57 | 98.64 | 107.8 | 111.5 | 113.2 | - | - | - |
| EBIT 1 | 261.5 | 283.8 | 179.9 | -53.45 | 89.39 | - | 98.89 | 102.3 | 104.4 | 103 | 108.4 | 121.8 |
| Operating Margin | 32.43% | 30.65% | 26.59% | -10.11% | 13.57% | - | 12.65% | 12.65% | 12.87% | 12.4% | 12.99% | 13.91% |
| Earnings before Tax (EBT) | - | - | - | - | 90.45 | - | 108.7 | 114.2 | - | - | - | - |
| Net income | 184.9 | 200.9 | 120 | -39.38 | 59.63 | 63 | 73.78 | 81.86 | 85.26 | - | - | - |
| Net margin | 22.93% | 21.69% | 17.74% | -7.45% | 9.05% | 8.03% | 9.43% | 10.12% | 10.51% | - | - | - |
| EPS | 0.2490 | 0.2749 | 0.1616 | -0.0530 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/26/20 | 8/18/20 | 2/24/21 | 8/25/21 | 2/20/22 | 8/28/22 | 2/19/23 | 8/20/23 | 2/18/24 | - | - | - |
1NZD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 465 | 837 | 859 | 780 | 720 | 852 | 994 | 1,160 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 286 | 422 | 82.1 | 199 | 101 | 172 | 181 | 221 |
| ROE (net income / shareholders' equity) | 42.8% | 40.2% | 7.27% | 10.8% | 13.4% | 13.7% | 14% | 14.2% |
| ROA (Net income/ Total Assets) | 33.7% | 31.4% | 5.71% | 7.94% | 9.35% | 9.62% | 10.3% | 10.7% |
| Assets 1 | 854.8 | 1,230 | 1,413 | 1,544 | 1,664 | 1,752 | 1,910 | 2,118 |
| Book Value Per Share 2 | 1.070 | 1.530 | 1.460 | 1.590 | 1.590 | 1.780 | 2.010 | 2.260 |
| Cash Flow per Share 2 | 0.3900 | 0.5800 | 0.1200 | 0.2700 | 0.1500 | 0.2400 | 0.2900 | 0.3300 |
| Capex 1 | 2.65 | 5.8 | 7.31 | 4.94 | 10.1 | 31.3 | 37 | 38.3 |
| Capex / Sales | 0.2% | 0.33% | 0.61% | 0.34% | 0.63% | 1.88% | 2.06% | 1.99% |
| Announcement Date | 8/21/19 | 8/18/20 | 8/25/21 | 8/28/22 | 8/20/23 | - | - | - |
1NZD in Million2NZD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
6.5
NZD
Average target price
6.474
NZD
Spread / Average Target
-0.40%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +41.30% | 2.79B | |
| +4.71% | 24.52B | |
| -23.24% | 8.1B | |
| -4.24% | 6.82B | |
| +8.16% | 6.26B | |
| -3.85% | 5.36B | |
| -3.18% | 5.16B | |
| +19.79% | 4.98B | |
| +1.41% | 5.02B | |
| +22.01% | 4.53B |
- Stock Market
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- ATM Stock
- Financials The a2 Milk Company Limited
