The a2 Milk Company Ltd Net Assets
The a2 Milk Company Ltd net assets. Based on the latest financial reports, The a2 Milk Company Ltd (A2M) has net assets worth AU$1.07 Billion AUD (≈ $758.70 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$1.96 Billion ≈ $1.39 Billion USD) and total liabilities (AU$887.30 Million ≈ $627.82 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore how fast is The a2 Milk Company Ltd growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$1.07 Billion |
| % of Total Assets | 54.72% |
| Annual Growth Rate | 27.16% |
| 5-Year Change | -10.19% |
| 10-Year Change | 343.86% |
| Growth Volatility | 74.89 |
Net Assets of The a2 Milk Company Ltd (2004–2026)
Net assets of The a2 Milk Company Ltd from 2004 to 2026. This chart illustrates how The a2 Milk Company Ltd's net assets have evolved over time, based on quarterly financial data. See A2M net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for The a2 Milk Company Ltd (2004–2026)
The table below shows the annual net assets of The a2 Milk Company Ltd from 2004 to 2026. For live market cap and overall valuation, see A2M market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2026-06-30 | AU$1.07 Billion ≈ $758.70 Million |
-25.05% |
| 2025-06-30 | AU$1.43 Billion ≈ $1.01 Billion |
+13.84% |
| 2024-06-30 | AU$1.26 Billion ≈ $889.25 Million |
+9.33% |
| 2023-06-30 | AU$1.15 Billion ≈ $813.35 Million |
-3.72% |
| 2022-06-30 | AU$1.19 Billion ≈ $844.80 Million |
+10.15% |
| 2021-06-30 | AU$1.08 Billion ≈ $766.97 Million |
-4.42% |
| 2020-06-30 | AU$1.13 Billion ≈ $802.42 Million |
+43.94% |
| 2019-06-30 | AU$787.85 Million ≈ $557.46 Million |
+41.77% |
| 2018-06-30 | AU$555.71 Million ≈ $393.20 Million |
+130.03% |
| 2017-06-30 | AU$241.58 Million ≈ $170.93 Million |
+81.53% |
| 2016-06-30 | AU$133.08 Million ≈ $94.16 Million |
+126.98% |
| 2015-06-30 | AU$58.63 Million ≈ $41.48 Million |
-0.03% |
| 2014-06-30 | AU$58.64 Million ≈ $41.49 Million |
-2.15% |
| 2013-06-30 | AU$59.93 Million ≈ $42.40 Million |
+60.46% |
| 2012-06-30 | AU$37.35 Million ≈ $26.43 Million |
+48.31% |
| 2011-06-30 | AU$25.18 Million ≈ $17.82 Million |
+246.55% |
| 2010-06-30 | AU$7.27 Million ≈ $5.14 Million |
+195.33% |
| 2008-06-30 | AU$-7.62 Million ≈ $-5.39 Million |
-453.53% |
| 2007-06-30 | AU$-1.38 Million ≈ $-974.45K |
-515.49% |
| 2005-06-30 | AU$-223.76K ≈ $-158.32K |
-104.12% |
| 2004-06-30 | AU$5.43 Million ≈ $3.84 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to The a2 Milk Company Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 128542195900.0% over the analyzed period, indicating profitable operations and earnings retention.
The a2 Milk Company Ltd Net Assets Breakdown (June 2026)
The a2 Milk Company Ltd net assets breakdown by equity component as of June 2026.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$1.28 Billion | 119.17% |
| Common Stock | AU$99.92K | 0.01% |
| Other Comprehensive Income | AU$-205.68 Million | -19.18% |
| Other Components | AU$1.00 | 0.00% |
| Total Equity | AU$1.07 Billion | 100.00% |
The a2 Milk Company Ltd Competitors by Market Cap
The table below lists competitors of The a2 Milk Company Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PT Pantai Indah Kapuk Dua Tbk
JK:PANI
|
$3.67 Billion |
|
Kodiak Gas Services, Inc.
NYSE:KGS
|
$3.68 Billion |
|
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
SA:SBSP3
|
$3.68 Billion |
|
Seek Ltd
AU:SEK
|
$3.68 Billion |
|
Monday.Com Ltd
NASDAQ:MNDY
|
$3.67 Billion |
|
Cabot Corporation
NYSE:CBT
|
$3.67 Billion |
|
Beijing Tiantan Biological Products Corp Ltd
SHG:600161
|
$3.67 Billion |
|
Farsoon Technology Co. Ltd. A
SHG:688433
|
$3.67 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in The a2 Milk Company Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 1,450,971,000 to 1,072,277,235, a change of -378,693,765 (-26.1%).
- Net income of 216,529,624 contributed positively to equity growth.
- Dividend payments of 166,717,588 reduced retained earnings.
- Other comprehensive income decreased equity by 24,430,109.
- Other factors decreased equity by 404,075,692.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$216.53 Million | +20.19% |
| Dividends Paid | AU$166.72 Million | -15.55% |
| Other Comprehensive Income | AU$-24.43 Million | -2.28% |
| Other Changes | AU$-404.08 Million | -37.68% |
| Total Change | AU$- | -26.10% |
Book Value vs Market Value Analysis
This analysis compares The a2 Milk Company Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.85x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 178.77x to 4.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-06-30 | AU$0.04 | AU$7.13 | x |
| 2005-06-30 | AU$0.00 | AU$7.13 | x |
| 2007-06-30 | AU$-0.01 | AU$7.13 | x |
| 2008-06-30 | AU$-0.04 | AU$7.13 | x |
| 2010-06-30 | AU$0.02 | AU$7.13 | x |
| 2011-06-30 | AU$0.05 | AU$7.13 | x |
| 2012-06-30 | AU$0.06 | AU$7.13 | x |
| 2013-06-30 | AU$0.10 | AU$7.13 | x |
| 2014-06-30 | AU$0.09 | AU$7.13 | x |
| 2015-06-30 | AU$0.09 | AU$7.13 | x |
| 2016-06-30 | AU$0.19 | AU$7.13 | x |
| 2017-06-30 | AU$0.33 | AU$7.13 | x |
| 2018-06-30 | AU$0.75 | AU$7.13 | x |
| 2019-06-30 | AU$1.06 | AU$7.13 | x |
| 2020-06-30 | AU$1.53 | AU$7.13 | x |
| 2021-06-30 | AU$1.46 | AU$7.13 | x |
| 2022-06-30 | AU$1.59 | AU$7.13 | x |
| 2023-06-30 | AU$1.56 | AU$7.13 | x |
| 2024-06-30 | AU$1.74 | AU$7.13 | x |
| 2025-06-30 | AU$1.99 | AU$7.13 | x |
| 2026-06-30 | AU$1.47 | AU$7.13 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently The a2 Milk Company Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 20.19%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.99%
- • Asset Turnover: 1.01x
- • Equity Multiplier: 1.83x
- Recent ROE (20.19%) is above the historical average (9.46%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | -39.74% | -521.12% | 0.06x | 1.26x | AU$-2.70 Million |
| 2005 | 0.00% | -2183.14% | 1.76x | 0.00x | AU$-9.00 Million |
| 2007 | 0.00% | -67.62% | 2.06x | 0.00x | AU$-4.94 Million |
| 2008 | 0.00% | -251.22% | 3.10x | 0.00x | AU$-5.54 Million |
| 2010 | -30.19% | -895.51% | 0.03x | 1.14x | AU$-2.92 Million |
| 2011 | 8.40% | 5.00% | 1.29x | 1.30x | AU$-402.74K |
| 2012 | 11.79% | 7.05% | 1.26x | 1.33x | AU$670.20K |
| 2013 | 6.87% | 4.37% | 1.30x | 1.21x | AU$-1.87 Million |
| 2014 | 0.02% | 0.01% | 1.44x | 1.31x | AU$-5.85 Million |
| 2015 | -3.57% | -1.35% | 1.75x | 1.52x | AU$-7.95 Million |
| 2016 | 22.87% | 8.63% | 1.68x | 1.58x | AU$17.13 Million |
| 2017 | 37.54% | 16.50% | 1.60x | 1.42x | AU$66.50 Million |
| 2018 | 35.21% | 21.21% | 1.29x | 1.29x | AU$140.11 Million |
| 2019 | 36.52% | 22.12% | 1.29x | 1.28x | AU$208.96 Million |
| 2020 | 34.02% | 22.29% | 1.19x | 1.28x | AU$272.43 Million |
| 2021 | 7.44% | 6.69% | 0.88x | 1.27x | AU$-27.74 Million |
| 2022 | 10.39% | 8.49% | 0.84x | 1.45x | AU$4.59 Million |
| 2023 | 13.58% | 9.78% | 0.99x | 1.41x | AU$41.06 Million |
| 2024 | 13.23% | 10.01% | 0.96x | 1.37x | AU$40.93 Million |
| 2025 | 13.98% | 10.68% | 0.98x | 1.34x | AU$57.79 Million |
| 2026 | 20.19% | 10.99% | 1.01x | 1.83x | AU$109.30 Million |
Industry Comparison
This section compares The a2 Milk Company Ltd's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $147,063,521
- Average return on equity (ROE) among peers: -45.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| The a2 Milk Company Ltd (A2M) | AU$1.07 Billion | -39.74% | 0.83x | $3.67 Billion |
| Australian Dairy Nutritionals Ltd (AHF) | $39.95 Million | -10.38% | 0.12x | $8.91 Million |
| Beston Global Food Company Ltd (BFC) | $75.89 Million | -28.75% | 0.72x | $4.24 Million |
| Bega Cheese Ltd (BGA) | $996.80 Million | 5.50% | 1.22x | $1.39 Billion |
| Biome Australia Ltd (BIO) | $949.54K | -333.02% | 1.05x | $51.62 Million |
| Bubs Australia Ltd (BUB) | $36.87 Million | -56.92% | 0.81x | $48.71 Million |
| Bioxyne Ltd (BXN) | $-623.12K | 0.00% | 0.00x | $120.96 Million |
| Cobram Estate Olives Ltd (CBO) | $134.39 Million | 0.37% | 0.73x | $914.69 Million |
| The Calmer Co International Ltd (CCO) | $11.27 Million | -3.43% | 0.04x | $2.16 Million |
| Clover Corporation Ltd (CLV) | $28.07 Million | 15.14% | 0.15x | $119.94 Million |
About 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 … Read more