China Mengniu Dairy - Public Comps and Valuation Multiples

China Mengniu Dairy Overview

About China Mengniu Dairy

China Mengniu Dairy is China’s second-largest dairy producer by market share. The company produces a wide range of dairy products, including liquid milk, yogurt, ice cream, milk formula, and cheese. Liquid milk, composed of milk, milk beverages, and yogurt, contributed roughly 80% of Mengniu’s revenue in 2024. Flagship lineups include Deluxe, Mengniu Pure Milk, Just Yoghurt, and Yoyi C. Mengniu also owns two infant formula brands, Yashili and Bellamy, as well as Milkground, a cheese brand.

Founded

2004

HQ

Employees

41K+

Website

mengniuir.com

Sectors

Food & Beverages

Financials

LTM Revenue $12.9B

LTM EBITDA $1.2B

EV

$8.3B

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China Mengniu Dairy Financials

As of August 2025, China Mengniu Dairy reported last 12-month revenue of $12.9B and EBITDA of $1.2B.

In the same period, China Mengniu Dairy generated $5.2B in LTM gross profit and $461M in net income.

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China Mengniu Dairy P&L

In the most recent fiscal year, China Mengniu Dairy reported revenue of $11.4B and EBITDA of $753M.

China Mengniu Dairy expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$12.9B	XXX	$11.4B	XXX	XXX	XXX
Gross Profit	$5.2B	XXX	$4.5B	XXX	XXX	XXX
Gross Margin	40%	XXX	40%	XXX	XXX	XXX
EBITDA	$1.2B	XXX	$753M	XXX	XXX	XXX
EBITDA Margin	9%	XXX	7%	XXX	XXX	XXX
EBIT	$1.0B	XXX	$986M	XXX	XXX	XXX
EBIT Margin	8%	XXX	9%	XXX	XXX	XXX
Net Profit	$461M	XXX	$13.4M	XXX	XXX	XXX
Net Margin	4%	XXX	0%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.2B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for China Mengniu Dairy including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $12.9B. EBITDA for the last twelve months was $1.2B. In the most recent fiscal year, China Mengniu Dairy achieved $11.4B in revenue and $753M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$12.9B	Analyst estimates available to subscribers	$11.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$5.2B	Analyst estimates available to subscribers	$4.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	40.0% gross margin	Analyst estimates available to subscribers	39.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.2B	Analyst estimates available to subscribers	$753M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	9.4% EBITDA margin	Analyst estimates available to subscribers	6.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.0B	Analyst estimates available to subscribers	$986M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	7.9% EBIT margin	Analyst estimates available to subscribers	8.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$461M	Analyst estimates available to subscribers	$13.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.6% net profit margin	Analyst estimates available to subscribers	0.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.2B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for China Mengniu Dairy

This financial data table provides comprehensive performance metrics for China Mengniu Dairy, a company based in Hong Kong. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

China Mengniu Dairy generated $12.9B in revenue over the last twelve months.
The company achieved $1.2B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $5.2B.
Net income over the last twelve months reached $461M.

Fiscal Year Performance

In the most recent fiscal year, China Mengniu Dairy reported $11.4B in total revenue.
Fiscal year EBITDA was $753M.
The company maintained a gross profit margin of 39.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 6.6%.
Net profit margin reached 0.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for China Mengniu Dairy. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

China Mengniu Dairy Stock Performance

China Mengniu Dairy has current market cap of HKD 59.2B (or $7.6B), and EV of HKD 64.8B (or $8.3B).

Market Cap Evolution

China Mengniu Dairy Stock Data

As of September 12, 2025, China Mengniu Dairy's stock price is HKD 15 (or $2).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$8.3B	$7.6B	XXX	XXX	XXX	XXX	$0.11

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China Mengniu Dairy Valuation Multiples

China Mengniu Dairy's trades at 0.7x EV/Revenue multiple, and 11.0x EV/EBITDA.

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China Mengniu Dairy Financial Valuation Multiples

As of September 12, 2025, China Mengniu Dairy has market cap of $7.6B and EV of $8.3B.

Equity research analysts estimate China Mengniu Dairy's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

China Mengniu Dairy has a P/E ratio of 18.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$7.6B	XXX	$7.6B	XXX	XXX	XXX
EV (current)	$8.3B	XXX	$8.3B	XXX	XXX	XXX
EV/Revenue	0.7x	XXX	0.7x	XXX	XXX	XXX
EV/EBITDA	7.5x	XXX	11.0x	XXX	XXX	XXX
EV/EBIT	8.9x	XXX	8.4x	XXX	XXX	XXX
EV/Gross Profit	1.8x	XXX	n/a	XXX	XXX	XXX
P/E	18.0x	XXX	566.2x	XXX	XXX	XXX
EV/FCF	11.6x	XXX	13.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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China Mengniu Dairy Margins & Growth Rates

China Mengniu Dairy's last 12 month revenue growth is 1%

China Mengniu Dairy's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

China Mengniu Dairy's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

China Mengniu Dairy's rule of X is 12% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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China Mengniu Dairy Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	1%	XXX	3%	XXX	XXX	XXX
EBITDA Margin	9%	XXX	7%	XXX	XXX	XXX
EBITDA Growth	25%	XXX	-4%	XXX	XXX	XXX
Rule of 40	12%	XXX	8%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	12%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	26%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	31%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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