The a2 Milk Company Ltd (A2M) - Net Assets

Latest as of December 2025: AU$1.39 Billion AUD ≈ $980.64 Million USD

Based on the latest financial reports, The a2 Milk Company Ltd (A2M) has net assets worth AU$1.39 Billion AUD (≈ $980.64 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$1.85 Billion ≈ $1.31 Billion USD) and total liabilities (AU$459.58 Million ≈ $325.18 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 A2M total asset value for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric Value
Current Net Assets AU$1.39 Billion
% of Total Assets 75.1%
Annual Growth Rate 30.4%
5-Year Change 31.99%
10-Year Change 975.11%
Growth Volatility 75.37

The a2 Milk Company Ltd - Net Assets Trend (2004–2025)

This chart illustrates how The a2 Milk Company Ltd's net assets have evolved over time, based on quarterly financial data. Check A2M intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for The a2 Milk Company Ltd (2004–2025)

The table below shows the annual net assets of The a2 Milk Company Ltd from 2004 to 2025. For live valuation and market cap data, see The a2 Milk Company Ltd market capitalisation.

Year Net Assets Change
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 163968553600.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (June 2025)

Component Amount Percentage
Retained Earnings AU$1.63 Billion 112.48%
Common Stock AU$100.00K 0.01%
Other Comprehensive Income AU$-181.25 Million -12.49%
Total Equity AU$1.45 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
Proya Cosmetics Co Ltd Class A
SHG:603605
 $3.52 Billion
XJ Electric Co Ltd
SHE:000400
 $3.52 Billion
HARBOUR ENE.SP.ADR LS-50
F:PQQ2
 $3.52 Billion
Qingdao Hanhe Cable Co Ltd
SHE:002498
 $3.52 Billion
Organon & Co
NYSE:OGN
 $3.52 Billion
Group 1 Automotive Inc
NYSE:GPI
 $3.52 Billion
Korn Ferry
NYSE:KFY
 $3.52 Billion
INDIVIOR PLC DL 050
F:2IVB
 $3.51 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 2024 to 2025, total equity changed from 1,266,476,000 to 1,450,971,000, a change of 184,495,000 (14.6%).
  • Net income of 202,889,000 contributed positively to equity growth.
  • Dividend payments of 61,542,000 reduced retained earnings.
  • Other comprehensive income increased equity by 34,442,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income AU$202.89 Million +13.98%
Dividends Paid AU$61.54 Million -4.24%
Other Comprehensive Income AU$34.44 Million +2.37%
Other Changes AU$8.71 Million +0.6%
Total Change AU$- 14.57%

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: 3.44x
  • 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 172.00x to 3.44x 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$6.86 x
2005-06-30 AU$0.00 AU$6.86 x
2007-06-30 AU$-0.01 AU$6.86 x
2008-06-30 AU$-0.04 AU$6.86 x
2010-06-30 AU$0.02 AU$6.86 x
2011-06-30 AU$0.05 AU$6.86 x
2012-06-30 AU$0.06 AU$6.86 x
2013-06-30 AU$0.10 AU$6.86 x
2014-06-30 AU$0.09 AU$6.86 x
2015-06-30 AU$0.09 AU$6.86 x
2016-06-30 AU$0.19 AU$6.86 x
2017-06-30 AU$0.33 AU$6.86 x
2018-06-30 AU$0.75 AU$6.86 x
2019-06-30 AU$1.06 AU$6.86 x
2020-06-30 AU$1.53 AU$6.86 x
2021-06-30 AU$1.46 AU$6.86 x
2022-06-30 AU$1.59 AU$6.86 x
2023-06-30 AU$1.56 AU$6.86 x
2024-06-30 AU$1.74 AU$6.86 x
2025-06-30 AU$1.99 AU$6.86 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): 13.98%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 10.68%
  • • Asset Turnover: 0.98x
  • • Equity Multiplier: 1.34x
  • Recent ROE (13.98%) is above the historical average (8.92%), 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

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: $60,872,661
  • Average return on equity (ROE) among peers: -547.86%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
The a2 Milk Company Ltd (A2M) AU$1.39 Billion -39.74% 0.33x $3.52 Billion
Australian Dairy Nutritionals Ltd (AHF) $30.47 Million -10.00% 0.42x $9.17 Million
Beston Global Food Company Ltd (BFC) $33.38 Million -146.35% 2.12x $4.24 Million
Bega Cheese Ltd (BGA) $261.95 Million 9.71% 1.10x $1.33 Billion
Biome Australia Ltd (BIO) $949.54K -333.02% 1.05x $45.17 Million
Bubs Australia Ltd (BUB) $2.58 Million -19.34% 0.07x $56.94 Million
Bioxyne Ltd (BXN) $967.78K -527.39% 1.05x $120.96 Million
Cobram Estate Olives Ltd (CBO) $190.69 Million 18.47% 1.40x $1.11 Billion
The Calmer Co International Ltd (CCO) $2.60K -3921.69% 30.80x $2.16 Million
Clover Corporation Ltd (CLV) $26.86 Million -1.11% 0.07x $111.07 Million

About The a2 Milk Company Ltd

AU:A2M Australia Packaged Foods
Market Cap
$3.52 Billion
AU$4.98 Billion AUD
Market Cap Rank
#4409 Global
#106 in Australia
Share Price
AU$6.86
Change (1 day)
-0.44%
52-Week Range
AU$5.19 - AU$9.96
All Time High
AU$19.94
Categories
Companies in Australia Packaged Foods
About

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; other nutritional products and milk; manufactures and sells nutritional and ingredients products, as well as provides rent, royalty, and licensing services. It offers… Read more