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Home CompaniesThe a2 Milk Company Ltd

The a2 Milk Company Ltd

Consumer Defensive Packaged Foods
PortfolioPortfolio WatchlistWatchlist
Company price
7.13 AUD -0.13 ( 1.79%)
Last update at 2026-11-06T06:17:00Z
VOLUME
1579107
Market Cap
5285.69M
P/E
29.04

Momentum Score

…

The a2 Milk Company Limited, together with its subsidiaries, sells A2-type protein type branded milk and related products in Australia, New Zealand, China, rest of Asia, and the United States. The company offers infant milk formula, milk, and other nutritional products under the a2 Milk and a2 Platinum brands. It also provides rent, royalty, and licensing services. The company was formerly known as A2 Corporation Limited and changed its name to The a2 Milk Company Limited in April 2014. The a2 Milk Company Limited was incorporated in 2000 and is based in Auckland, New Zealand.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
7.05
Low
7.26
High
52 Week Price Range
4.64
Low
9.40
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

The a2 Milk Company Ltd is an Australia-based dairy company that sells milk and infant formula containing A2 beta-casein protein in domestic and key international markets including Greater China and the US. Long-term growth drivers include premium brand recognition, product diversification across liquid and infant categories, and international expansion which may benefit from consumer interest in specialty and health-focused dairy.
Concentration of sales in Greater China, regulatory and import scrutiny, rising competition and sensitivity to commodity prices and currency moves are the principal risks investors should monitor.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
7.26
Dividend Yield
2.99%
Revenue TTM
1972.24M
Revenue Per Share
2.72
Gross Profit TTM
940.38M
Debt / Equity
0.02
ROE
16.57%
Net Debt
-659.64M
ROCE
25.47%
Diluted EPS TTM
0.25

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Income before tax 296.34M 289.25M 238.14M 222.86M 181.39M
Minority interest 2.47M 10.80M 13.70M 10.80M 7.88M
Net income 216.53M 202.89M 167.58M 155.64M 122.62M
Selling general administrative 675.43M 254.17M 236.23M 228.66M 105.20M
Selling and marketing expenses - 375.61M 330.28M 311.06M 278.87M
Gross profit 939.64M 875.15M 766.63M 739.16M 663.52M
Reconciled depreciation 18.47M 26.34M 32.20M 18.20M 18.93M
Ebit 285.35M 291.73M 241.14M 227.31M 183.39M
Ebitda 303.81M 318.06M 273.34M 245.51M 202.31M
Depreciation and amortization 18.46M 26.34M 32.20M 18.20M 18.93M
Operating income 285.35M 219.04M 202.24M 201.22M 177.41M
Other operating expenses 1685.34M 1680.23M 1471.08M 1389.99M 1266.45M
Interest expense 0.99M 4.30M 4.50M 4.45M 2.00M
Tax provision 89.08M 97.16M 84.26M 78.02M 66.65M
Interest income 29.97M 45.46M 40.40M 26.73M 6.57M
Net interest income 28.97M 41.16M 35.90M 21.64M 3.98M
Income tax expense 89.01M 97.16M 84.26M 78.02M 66.65M
Total revenue 1970.69M 1899.27M 1673.32M 1591.09M 1443.74M
Total operating expenses 654.29M 656.11M 564.39M 557.92M 507.53M
Cost of revenue 1031.05M 1024.12M 906.69M 851.92M 780.22M
Total other income expense net 10.98M 70.21M 35.90M 1.78M 2.49M
Net income from continuing ops 207.49M 192.09M 153.88M 144.84M 114.74M
Net income applicable to common shares - - - 155.64M 122.62M
Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Total assets 1959.57M 1942.11M 1734.88M 1611.71M 1715.85M
Intangible assets 18.58M 8.64M 8.71M 6.07M 6.85M
Other current assets 103.05M - 61.28M 47.22M 60.38M
Total liab 887.30M 511.37M 478.10M 462.21M 521.89M
Total stockholder equity 1072.28M 1450.97M 1266.48M 1145.82M 1180.38M
Other current liab 731.64M - 327.31M 302.14M 309.97M
Common stock 0.10M - 0.10M 0.10M 149.16M
Capital stock 0.10M 0.10M 0.10M 0.10M 149.16M
Retained earnings 1277.86M 1632.12M 1490.78M 1323.20M 1167.56M
Other liab - - - 0.66M 1.29M
Good will 205.49M 102.28M 102.38M 102.35M 102.47M
Other assets - - - 118.62M 43.45M
Cash 683.94M 1100.17M 968.94M 802.23M 887.31M
Total current liabilities 839.17M 450.08M 416.77M 379.21M 440.17M
Current deferred revenue 0.99M - - 3.17M 3.17M
Net debt -659.64M - -902.72M -700.71M -762.96M
Short term debt 5.83M - 5.60M 19.18M 43.92M
Short long term debt - 39.00M - 15.00M 40.79M
Short long term debt total 24.29M - 66.22M 101.53M 124.35M
Other stockholder equity - - - -1323.30M -1316.72M
Property plant equipment - - - 262.56M 256.58M
Total current assets 1349.34M 1451.00M 1287.94M 1122.11M 1171.24M
Long term investments 84.34M 110.88M 44.10M 89.89M 150.92M
Net tangible assets - - - 1037.40M 1071.06M
Short term investments 99.92M - - 450.00M 450.00M
Net receivables 172.09M 61.79M 78.07M 79.22M 83.51M
Long term debt - 38.76M 37.89M 67.04M 66.21M
Inventory 290.34M 139.11M 179.65M 193.44M 140.04M
Accounts payable 100.71M 75.97M 83.86M 54.72M 83.11M
Accumulated other comprehensive income -205.68M - -224.40M -177.48M -136.34M
Non currrent assets other - - 0.26M 0.11M 2.06M
Non current assets total 610.23M 491.11M 446.93M 489.61M 544.61M
Capital lease obligations 24.31M 22.97M 28.33M 19.49M 17.35M
Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Investments 387.04M -92.28M -37.14M -13.94M -450.00M
Change to liabilities - - - -71.63M 69.50M
Total cashflows from investing activities 148.73M -92.28M -37.14M -13.94M -669.99M
Net borrowings -39.00M 39.00M -45.00M -29.37M 22.91M
Total cash from financing activities -211.34M -28.27M -49.81M -178.43M 9.64M
Change to operating activities - - - 10.91M -20.85M
Net income 207.33M 202.89M 167.58M 155.64M 122.62M
Change in cash 7.16M 81.23M 166.71M -85.07M -437.84M
Begin period cash flow 676.78M 518.94M 352.23M 437.31M 875.15M
End period cash flow 683.94M 600.17M 518.94M 352.23M 437.31M
Total cash from operating activities 133.04M 201.48M 255.74M 111.28M 141.55M
Issuance of capital stock - - - - 0.04M
Depreciation 18.46M - 32.20M 17.12M 18.93M
Other cashflows from investing activities - -0.31M -3.51M - -
Dividends paid 166.72M -61.54M - 0.04M 54.00M
Change to inventory -181.16M 40.53M 13.79M -53.40M -19.68M
Change to account receivables -90.92M -14.18M 1.15M 4.29M -3.56M
Sale purchase of stock - - - -149.06M -13.31M
Other cashflows from financing activities -5.65M -5.73M -4.81M -3.58M 49.91M
Change to netincome - - - 15.21M 26.24M
Capital expenditures 73.42M 3.97M 17.02M 10.41M 5.17M
Change in working capital -103.99M -27.62M 8.07M -49.10M -23.24M
Stock based compensation - - 10.73M 17.13M 11.61M
Other non cash items 11.24M 229.10M 37.17M -61.48M -141.55M
Free cash flow 59.62M 197.51M 235.22M 100.88M 136.38M

Peer Comparison*

Sector: Consumer Defensive Industry: Packaged Foods

Stock Name
Change
(AUD)
Price
(AUD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
A2M
The a2 Milk Company Ltd		 -0.13
1.79%		 7.13 29.04 28.74 2.68 5.94 2.85 17.82
BGA
Bega Cheese Ltd		 0.02
0.31%		 6.43 35.61 22.94 0.52 1.93 0.60 11.82
CBO
Cobram Estate Olives Ltd		 -
-%		 2.70 - - 4.79 2.48 6.63 185.44
RIC
Ridley Corporation Ltd		 -
-%		 2.68 38.29 13.42 0.35 2.01 0.53 4.50
SHV
Select Harvests Ltd		 -0.02
0.50%		 4.01 19.19 9.66 1.61 0.99 2.64 18.35

Profile*

The a2 Milk Company Ltd

The a2 Milk Company Limited, together with its subsidiaries, sells A2-type protein type branded milk and related products in Australia, New Zealand, China, rest of Asia, and the United States. The company offers infant milk formula, milk, and other nutritional products under the a2 Milk and a2 Platinum brands. It also provides rent, royalty, and licensing services. The company was formerly known as A2 Corporation Limited and changed its name to The a2 Milk Company Limited in April 2014. The a2 Milk Company Limited was incorporated in 2000 and is based in Auckland, New Zealand.

51 Shortland Street, Auckland, New Zealand, 1010

64 0 800 2246

https://www.thea2milkcompany.com

485

Name Title Year Born
Mr. David L. Bortolussi B.Com., BComm, F.C.A., FCA, FFin MD, CEO & Director 1969
Mark Sherwin Interim CFO & Group Head of Fin. - FP&A and Risk NA
Mr. Shareef Khan Chief Operating Officer NA
Mr. David Akers Group Head of Investor Relations & Sustainability NA
Mr. Jaron McVicar Chief Legal & Sustainability Officer and Company Sec. NA
Ms. Edith Bailey Chief Marketing Officer NA
Ms. Amanda Hart Chief People & Culture Officer NA
Mr. Blake Waltrip Chief Exec. of USA Region NA
Ms. Jane Xu Exec. VP of Greater China NA
Mr. Li Xiao Chief Exec. of Greater China NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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