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Synlait Milk Limited, together with its subsidiaries, manufactures and sells a range of dairy and non-dairy products in China, the rest of Asia, the Middle East, Africa, New Zealand, Australia, and internationally. It operates through Synlait and Dairyworks segments. The company offers milk powder, milk powder-related products, fresh milk, ultra heat treatment milk and cream, cheese, and butter; skim milk powders; nutritional products for early life and adults comprising consumer-ready powders, base powders, ready-to-drink milk beverages, ingredients, and finished consumer-ready products; drinking yoghurts; specialized ingredients, such as lactoferrin; and anhydrous milk fat for foodservice applications. It sells its products under the Dairyworks, Rolling Meadow, Alpine, Pams, and Value brands. The company serves bakeries, cafés, and beverage chains; and manufacturers. It exports its products. Synlait Milk Limited was founded in 2000 and is headquartered in Rakaia, New Zealand.
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Synlait Milk Ltd is a New Zealand dairy processor that produces milk powders, infant nutrition ingredients and consumer dairy products for export markets, supplying both branded and contract-manufacturing customers. Long-term growth may be supported by rising demand for premium dairy and infant formula in Asia, a shift toward higher-margin value-added ingredients, capacity expansions and sustainability credentials that could support customer relationships and pricing.
Key risks include exposure to global milk price and commodity cyclicality, concentration in export markets and large buyers, regulatory and trade barriers in key markets, operational execution on capacity investments and foreign-exchange volatility.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
| Income before tax | -78.63M | -54.36M | -237.75M | -20.27M | 41.61M |
| Net income | -72.77M | -39.82M | -182.11M | -4.29M | 38.52M |
| Selling general administrative | - | 67.41M | 82.93M | 70.74M | 62.56M |
| Selling and marketing expenses | - | 58.27M | 18.03M | 13.38M | 14.53M |
| Gross profit | 31.55M | 105.34M | 56.01M | 158.97M | 193.74M |
| Reconciled depreciation | - | - | 71.99M | 63.70M | 54.24M |
| Ebit | -64.53M | -20.34M | -194.07M | 7.62M | 71.44M |
| Ebitda | -27.43M | 30.22M | -122.09M | 71.31M | 125.68M |
| Depreciation and amortization | 37.10M | 50.56M | 71.99M | 63.70M | 54.24M |
| Operating income | -64.53M | -20.34M | -86.26M | 7.62M | 71.44M |
| Other operating expenses | 1687.35M | 1847.75M | 1723.12M | 1327.62M | 1606.08M |
| Interest expense | 20.15M | 38.88M | 47.10M | 27.88M | 17.60M |
| Tax provision | - | - | -55.64M | -6.12M | 3.09M |
| Interest income | - | - | 0.58M | 0.28M | 0.17M |
| Net interest income | - | - | -47.10M | -29.05M | -18.56M |
| Income tax expense | 9.68M | 14.54M | -55.64M | -6.12M | 3.09M |
| Total revenue | 1622.82M | 1827.41M | 1636.86M | 1320.76M | 1660.60M |
| Total operating expenses | 96.08M | 125.68M | 134.01M | 165.84M | 139.21M |
| Cost of revenue | 1591.27M | 1722.08M | 1580.84M | 1161.79M | 1466.87M |
| Total other income expense net | -14.09M | -34.02M | -151.49M | 7.52M | -29.83M |
| Discontinued operations | - | - | - | 9.85M | -1.85M |
| Net income from continuing ops | - | - | -182.11M | -14.14M | 38.52M |
| Net income applicable to common shares | - | - | - | -4.29M | 38.52M |
| Breakdown | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
| Total assets | 1403.61M | 1563.88M | 1494.02M | 1685.61M | 1575.98M |
| Intangible assets | 66.18M | 70.49M | 75.83M | 77.75M | 94.47M |
| Other current assets | 37.49M | 38.99M | 60.66M | 5.52M | 8.34M |
| Total liab | 695.06M | 775.09M | 889.22M | 895.24M | 827.58M |
| Total stockholder equity | 708.55M | 788.79M | 604.80M | 790.37M | 748.40M |
| Other current liab | 178.62M | 8.16M | 8.38M | 60.61M | 238.61M |
| Common stock | 676.99M | 676.88M | 464.77M | 464.77M | 464.77M |
| Capital stock | - | - | - | 464.77M | 464.77M |
| Retained earnings | 30.42M | 105.85M | 145.68M | 327.79M | 332.08M |
| Other liab | - | - | - | 57.19M | 64.99M |
| Good will | 58.17M | 58.16M | 58.16M | 6.03M | 64.19M |
| Other assets | - | - | - | 10.33M | 5.55M |
| Cash | 18.72M | 78.28M | 10.27M | 9.29M | 14.49M |
| Total current liabilities | 431.05M | 721.84M | 642.31M | 617.35M | 442.25M |
| Current deferred revenue | - | - | 164.15M | 164.51M | - |
| Net debt | 259.14M | 305.80M | 550.68M | 460.33M | 369.04M |
| Short term debt | 108.84M | 335.34M | 369.70M | 248.93M | 63.19M |
| Short long term debt | - | - | - | 243.73M | 58.88M |
| Short long term debt total | 277.85M | 384.07M | 560.96M | 469.62M | 383.53M |
| Other stockholder equity | - | - | - | -2.19M | -48.46M |
| Property plant equipment | - | - | - | 1035.20M | 1041.07M |
| Total current assets | 516.00M | 493.67M | 406.74M | 555.37M | 370.59M |
| Long term investments | - | - | - | 0.94M | 0.11M |
| Net tangible assets | - | - | - | 706.60M | 589.74M |
| Net receivables | 164.23M | 94.98M | 98.33M | 82.94M | 91.10M |
| Long term debt | - | - | - | 179.00M | 295.59M |
| Inventory | 295.56M | 281.42M | 209.70M | 250.25M | 232.94M |
| Accounts payable | 143.58M | 378.34M | 100.07M | 143.31M | 140.46M |
| Accumulated other comprehensive income | 1.13M | 6.05M | -5.65M | -2.19M | -48.46M |
| Non currrent assets other | 13.94M | 15.92M | 3.64M | 3.91M | 5.55M |
| Non current assets total | 887.60M | 1070.20M | 1087.27M | 1130.24M | 1205.38M |
| Capital lease obligations | - | - | - | 46.89M | 29.05M |
| Breakdown | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 |
| Investments | - | - | -29.63M | -61.95M | -65.62M |
| Change to liabilities | - | - | - | 11.47M | 56.80M |
| Total cashflows from investing activities | 250.34M | -22.62M | -29.63M | -61.95M | -65.62M |
| Net borrowings | - | - | 35.65M | 62.97M | -143.12M |
| Total cash from financing activities | -97.44M | -74.90M | 76.77M | 18.66M | -169.17M |
| Change to operating activities | - | - | - | 9.39M | -1.03M |
| Net income | -88.31M | -39.82M | -182.11M | -4.29M | 38.52M |
| Change in cash | -64.65M | 68.00M | 0.98M | -5.20M | -1.53M |
| Begin period cash flow | 82.71M | 10.27M | 9.29M | 14.49M | 16.02M |
| End period cash flow | 18.05M | 78.28M | 10.27M | 9.29M | 14.49M |
| Total cash from operating activities | -210.38M | 165.52M | -47.19M | 38.06M | 95.59M |
| Issuance of capital stock | - | - | 130.00M | - | - |
| Depreciation | 37.10M | 57.04M | 63.72M | 51.98M | 57.07M |
| Other cashflows from investing activities | - | 0.32M | -1.09M | 0.31M | 0.17M |
| Change to inventory | -13.60M | -71.72M | 92.80M | -69.56M | 38.00M |
| Change to account receivables | -69.07M | 49.94M | -52.60M | -1.23M | 17.28M |
| Other cashflows from financing activities | 11.78M | 80.32M | -88.87M | 18.66M | -86.67M |
| Change to netincome | - | - | - | 33.30M | 27.91M |
| Capital expenditures | 26.75M | 22.93M | 30.90M | 64.89M | 92.91M |
| Change in working capital | -161.10M | -13.71M | 25.03M | - | - |
| Stock based compensation | - | - | 0.39M | - | - |
| Other non cash items | 9.17M | 162.01M | 46.17M | - | -95.59M |
| Free cash flow | -237.13M | 142.59M | -78.09M | -26.84M | 2.69M |
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) |
|---|---|---|---|---|---|---|---|---|
| SM1 Synlait Milk Ltd |
- -% |
0.42 | - | 13.51 | 0.14 | 0.40 | 0.34 | 20.88 |
| A2M The a2 Milk Company Ltd |
-0.07 0.96% |
7.19 | 29.04 | 28.74 | 2.68 | 5.94 | 2.85 | 17.82 |
| BGA Bega Cheese Ltd |
-0.02 0.30% |
6.74 | 35.61 | 22.94 | 0.52 | 1.93 | 0.60 | 11.82 |
| CBO Cobram Estate Olives Ltd |
-0.06 2.26% |
2.59 | - | - | 4.79 | 2.48 | 6.63 | 185.44 |
| RIC Ridley Corporation Ltd |
0.02 0.74% |
2.74 | 38.29 | 13.42 | 0.35 | 2.01 | 0.53 | 4.50 |
Synlait Milk Limited, together with its subsidiaries, manufactures and sells a range of dairy and non-dairy products in China, the rest of Asia, the Middle East, Africa, New Zealand, Australia, and internationally. It operates through Synlait and Dairyworks segments. The company offers milk powder, milk powder-related products, fresh milk, ultra heat treatment milk and cream, cheese, and butter; skim milk powders; nutritional products for early life and adults comprising consumer-ready powders, base powders, ready-to-drink milk beverages, ingredients, and finished consumer-ready products; drinking yoghurts; specialized ingredients, such as lactoferrin; and anhydrous milk fat for foodservice applications. It sells its products under the Dairyworks, Rolling Meadow, Alpine, Pams, and Value brands. The company serves bakeries, cafés, and beverage chains; and manufacturers. It exports its products. Synlait Milk Limited was founded in 2000 and is headquartered in Rakaia, New Zealand.
| Name | Title | Year Born |
|---|---|---|
| Mr. Grant Watson | Chief Exec. Officer | NA |
| Mr. Robert Stowell | Chief Financial Officer | NA |
| Mr. Nigel Macdonald | Director of Operations | NA |
| Mr. Boyd Williams | Director of People & Culture | NA |
| Tania Pearson | Company Sec. | NA |
| Mr. Tim Carter | CEO of Dairyworks & Director of Consumer | NA |
| Mr. Hamish Reid | Director of Sustainability & Brand | NA |
| Hannah Lynch | Corp. Affairs Mang. | NA |
| Mr. Grant Watson | Chief Executive Officer | NA |
| Mr. Paul Mallard | Chief Operating Officer | NA |
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