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The a2 Milk Company Limited

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About A2M

The a2 Milk Company (A2M) is a dairy nutritionals company, fuelled by its purpose to pioneer the future of dairy for good. The Company was founded in 2000 in New Zealand by scientist Dr Corran (Corrie) McLachlan and his business partner, Howard Paterson, who recognised that not all milk is the same.

Find out what a historical investment in The a2 Milk Company Limited would be worth today using our A2M stock calculator.

Sector

Consumer Staples

CEO

-

Industry

Food Products

Website

thea2milkcompany.com

Market Capitalisation

$5.32B

Price-earnings ratio

34.88

Dividend yield

0.90%

High today

$7.36

Low today

$7.21

Open price

$7.36

52-week high

$9.08

52-week low

$4.73

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What does The a2 Milk Company Limited (A2m) do? 

Milk that proves that less is more.

Founded in 2000 and based in Auckland, New Zealand, The a2 Milk Company produces and sells infant nutrition, milk and other dairy products that only include A2 beta-casein proteins. Many other dairy company products include both A1 and A2 proteins. The absence of A1 proteins makes The a2 Milk Company’s products easier to consume and digest.

All of the company’s milk is naturally occurring and not a product of technological processes or genetic engineering. The company’s cows are fed a plant-based diet and are identified as A2 cows through a special scientific process. The cows are never fed any growth hormones.

How does The a2 Milk Company make money?

The a2 Milk Company (A2M) earns and records revenue primarily through three business segments based on the regions Australia and New Zealand (ANZ), China and Other Asia, and the USA.

The ANZ segment receives revenue from the sale of liquid milk, infant nutrition and other dairy products such as milk powders, light, no fat and creamier milk. The ANZ segment also earns rent, royalty and licence fee revenue.

The China and Other Asia segment receives revenue from the sale of infant nutrition, nutrition for mothers before, during and after pregnancy, adult milk powders and liquid milk.

In the USA segment, revenue is earned through the sale of whole milk, reduced fat milk, fat free milk and Hershey’s a2 chocolate milk.

The ANZ, China and Other Asia and USA segments account for 43%, 46% and 5% of revenue, respectively.

Is The a2 Milk Company profitable?

Yes, The a2 Milk Company is profitable. Through FY2018, FY2019 and FY2020 the company earned a net income of A$179.32m, A$275.4 and A$360.76m, respectively. 

However, COVID-19 related headwinds hurt the business throughout FY2021 resulting in a considerably smaller net income of A$75.07m. The company’s net income for the first half of FY2022 fell further to A$56.1m.

The a2 Milk Company currently has a net cash position of A$667.2m.

How do I buy A2M stock?

Stake offers a quick and easy way to purchase A2M shares – along with 2,000+ other Australian stocks and ASX ETFs – for a brokerage fee of only A$3.

Stake is CHESS sponsored, meaning that when you buy ASX shares, you get a HIN (Holder Identification Number) and stocks are held in your name.

With Stake, you can be in the market in under 5 minutes, whether it's the ASX or Wall St. If you’re interested in building your portfolio by adding A2M, sign up today.

Is A2M stock a buy?

The A2M stock price hit a high of over A$20 in July 2020. By April 2022, A2M stock had dropped over 75% to under A$5. Suffice to say, sentiment has been overwhelmingly negative.

The a2 Milk Company endured a lot of COVID-19 related headwinds between 2020 and 2021. As Australian borders were shut to the world, the ANZ segment’s reseller (daigou) and Cross Border e-Commerce (CBEC) channels collapsed. Revenue took a nosedive and the company began downgrading guidance. News of legal firms launching class actions against the company on behalf of unhappy stockholders and a dropping birth rate in China didn’t help the A2M share price.

However, some investors are getting bullish again. As COVID-19 impacts abate, A2M bulls are anticipating the return of Chinese travellers and in turn, the resuscitation of the ANZ segment’s reseller/daigou channel. The company acquired Mataura Valley Milk in 2021 and reported 45% growth in its Chinese label infant formula products in its FY2022 interim report.

Does A2M stock pay dividends?

No, A2M stock has not distributed dividends to shareholders. Historically, the company has reinvested its earnings for the purpose of growth.

Who owns A2M stock?

Institutions own the vast majority of A2M stock at 54.6% of the total float. The general public is holding 44.8%.

Some institutions with the largest ownership include Perpetual Limited (6.1%), Vanguard (5%), JO Hambro Capital Management (4.99%), BlackRock (4.97%), Goldman Sachs Group, Investment Banking and Securities Investments (4.39%), JPMorgan Chase & Co, Private Banking and Investment Banking Investments (4.03%) and Macquarie Group, Ltd., Banking & Securities Investments (3.39%).


A2M FAQs

Buying A2M shares in Australia can be done through an online investing platform, such as Stake. Follow the simple steps below to start investing in The a2 Milk Company Limited in minutes.
  1. Sign up with some I.D. and zero paperwork
  2. Add funds to your account
  3. Make your first investment in A2M

The ticker symbol for The a2 Milk Company Limited is A2M.

One share of A2M is valued at $7.29 as of 11 July 2025.

As of 11 July 2025 The a2 Milk Company Limited has a market cap of $5.32B.

Yes, A2M does pay dividends.

The dividend yield for A2M is 0.90% as of 11 July 2025.

The most recent A2M dividend distribution paid $0.07 per share on 04 April 2025.

The ex-dividend date of A2M was 20 March 2025.

The Price to Earnings ratio of A2M is 34.88.

The Earnings Per Share of A2M is $0.21.

The The a2 Milk Company Limited 52-week high stock price is $9.08.

The The a2 Milk Company Limited 52-week low stock price is $4.73.

Yes, the Stake investing platform allows you to buy A2M shares and over 12,000 more stocks and ETFs across the ASX and Wall St.

This is not financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.

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