The a2 Milk Company Limited Ratios | P/E, ROE & Valuation

On the Key Ratios page for The a2 Milk Company Limited (A2M), the latest P/E of 27.0 frames valuation, while ROE 15.87% and ROIC 14.20% indicates profitability and capital efficiency. Together with the current ratio of 2.96 and debt-to-equity 0.02, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

A2M Historical Per Share Metrics

10 years
Metric (FY)TTM202520242023202220212020201920182017
Revenue per Share$2.76$2.62$2.32$2.17$1.94$1.62$2.35$1.77$1.27$0.77
Net Income per Share$0.31$0.28$0.23$0.21$0.16$0.11$0.52$0.39$0.27$0.13
Operating Cash Flow per Share$0.30$0.28$0.35$0.15$0.27$0.12$0.58$0.39$0.32$0.14
Free Cash Flow per Share$0.29$0.27$0.33$0.14$0.27$0.11$0.57$0.39$0.32$0.14
Cash per Share$1.24$1.52$1.34$1.09$1.19$1.18$1.16$0.63$0.47$0.17
Book Value per Share$1.91$1.98$1.74$1.57$1.61$1.46$1.54$1.07$0.77$0.34
Tangible Book Value per Share$1.61$1.82$1.59$1.42$1.46$1.44$1.52$1.06$0.75$0.32
Interest Debt per Share$0.05$0.15$0.10$0.15$0.17$0.02$0.02$0.00$0.00$0.00
CAPEX per Share$0.01$0.01$0.02$0.01$0.01$0.01$0.01$0.00$0.00$0.00

A2M Historical Valuation Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Price to Earnings (P/E)27.0330.8331.4624.9829.4159.2238.0936.8542.5731.12
Price to Book (P/B)4.394.314.163.393.064.4112.9613.4614.9911.68
Price to Sales (P/S)3.043.293.152.442.53.968.498.159.035.13
Enterprise Value to EBITDA16.7616.5315.916.9117.2530.1426.0124.7729.119.17
EV to Sales2.842.772.612.292.283.258.2688.864.97
EV to Operating Cash Flow26.0526.0917.0832.6816.1643.8233.4636.0135.3727.32
EV to Free Cash Flow27.3426.6118.5735.9316.5646.7933.9236.3435.7627.77
Enterprise Value$5.68B$5.26B$4.37B$3.64B$3.29B$3.92B$14.30B$10.41B$8.17B$2.73B

A2M Historical Profitability Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Return on Equity (ROE)15.87%13.98%13.23%13.58%10.39%7.44%34.02%36.52%35.21%37.54%
Return on Invested Capital (ROIC)14.20%9.47%9.87%10.85%8.79%8.29%34.24%37.40%35.08%38.48%
Return on Tangible Assets13.82%11.08%10.32%10.35%7.63%5.94%26.78%28.93%27.88%27.33%
Earnings Yield3.70%3.24%3.18%4.00%3.40%1.69%2.63%2.71%2.35%3.21%
Free Cash Flow Yield3.41%3.16%4.46%2.60%5.51%1.75%2.87%2.70%2.74%3.48%
Dividend Yield7.51%0.98%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

A2M Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202520242023202220212020201920182017
Current Ratio2.963.223.092.962.663.993.693.153.122.52
Interest Coverage104.4550.9944.9739.5268.471780.599283.413544.112024.41045.46
Income Quality0.9701.530.721.661.111.1111.181.1
Debt to Equity0.020.070.050.090.110.020.01000
Debt to Assets1.83%5.19%3.82%6.30%7.25%1.20%1.16%0.00%0.00%0.00%
Net Debt to EBITDA-1.19-3.14-3.28-1.17-1.64-6.6-0.72-0.46-0.55-0.64

A2M Historical Efficiency Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Receivables Turnover21.720.5921.4327.5821.4625.2527.2622.4317.278
Payables Turnover2.7113.4810.8115.579.3916.965.866.986.938.38
Inventory Turnover5.997.365.054.45.576.25.175.427.1510.05
Days Sales Outstanding16.8217.7317.0313.2317.0114.4613.3916.2721.1445.65
Days Payables Outstanding134.9127.0733.7623.4438.8821.5262.2452.352.6643.54
Days of Inventory on Hand60.9649.5872.3282.8865.5158.970.5667.451.0836.33

A2M Historical Market Metrics

10 years
Metric (FY)TTM202520242023202220212020201920182017
Enterprise Value to EBITDA16.7616.5315.916.9117.2530.1426.0124.7729.119.17
Market Cap$6.08B$6.26B$5.27B$3.89B$3.61B$4.78B$14.70B$10.60B$8.33B$2.82B
Enterprise Value$5.68B$5.26B$4.37B$3.64B$3.29B$3.92B$14.30B$10.41B$8.17B$2.73B
Dividend Yield7.51%0.98%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Payout Ratio64.39%30.33%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

How does The a2 Milk Company Limited’s P/E ratio compare with its history?

On this page, A2M's current P/E is 27.0, compared with a multi-year average around 35.2. A lower P/E versus its own history is a calculated gap versus that average—not a conclusion that the stock is cheap. Pair it with profitability and earnings quality in the table (for example ROE/ROIC) to see whether the multiple moved with earnings.

What is The a2 Milk Company Limited market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $6.08B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

How does The a2 Milk Company Limited’s P/E compare with its industry?

There is no P/E Tickerplace rates as good. Compare the P/E on this page with The a2 Milk Company Limited's own historical range (in the table) and with peers via the Screener and Compare tools. A higher or lower multiple versus peers is a calculated gap, not a recommendation.

How does The a2 Milk Company Limited compare to its competitors in key financial ratios?

The fastest way to compare The a2 Milk Company Limited with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see The a2 Milk Company Limited outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

What do The a2 Milk Company Limited's liquidity and leverage ratios show?

Liquidity and leverage figures on this page are published ratios, not a verdict that The a2 Milk Company Limited is financially strong. Current ratio is about 2.96, which is above 1.0 and can indicate more comfortable short-term liquidity. Interest coverage is about 104.45, implying a stronger ability to cover interest expenses. Debt-to-equity is about 0.02, suggesting leverage is more moderate relative to a high-debt profile. Pair them with ROE/ROIC and cash-flow rows in the table. Tickerplace does not rate the company as a good or poor investment.

What do The a2 Milk Company Limited's financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If The a2 Milk Company Limited is sustaining strong returns (for example ROE at 15.87% and ROIC at 14.20%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.