Fonterra - Public Comps and Valuation Multiples

Fonterra Overview

About Fonterra

Fonterra Co-operative Group Ltd operates predominantly in the international dairy industry. The company is involved in the collection, manufacture, and sale of milk and milk-derived products through its ingredients, Consumer and Foodservice channels. The company's reportable segments are Global Markets, Greater China, and Core Operations and the majority of the revenue is generated from its core operations segment. Its primary geographic markets is Asia, China, Australia, New Zealand, the United States, and the Rest of the world.

Founded

2001

HQ

Employees

18.0K+

Website

fonterra.com

Sectors

Food & Beverages

Financials

LTM Revenue $14.7B

LTM EBITDA $1.3B

EV

$8.9B

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Fonterra Financials

As of August 2025, Fonterra reported last 12-month revenue of $14.7B and EBITDA of $1.3B.

In the same period, Fonterra achieved $622M in LTM net income.

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Fonterra P&L

In the most recent fiscal year, Fonterra reported revenue of $13.4B and EBITDA of $1.3B.

Fonterra 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	$14.7B	XXX	$13.4B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$2.3B	XXX	XXX	XXX
Gross Margin	n/a	XXX	17%	XXX	XXX	XXX
EBITDA	$1.3B	XXX	$1.3B	XXX	XXX	XXX
EBITDA Margin	9%	XXX	10%	XXX	XXX	XXX
EBIT	$941M	XXX	$929M	XXX	XXX	XXX
EBIT Margin	6%	XXX	7%	XXX	XXX	XXX
Net Profit	$622M	XXX	$664M	XXX	XXX	XXX
Net Margin	4%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Fonterra including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $14.7B. EBITDA for the last twelve months was $1.3B. In the most recent fiscal year, Fonterra achieved $13.4B in revenue and $1.3B 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	$14.7B	Analyst estimates available to subscribers	$13.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$2.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	16.7% 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)	$1.3B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	8.9% EBITDA margin	Analyst estimates available to subscribers	9.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$941M	Analyst estimates available to subscribers	$929M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	6.4% EBIT margin	Analyst estimates available to subscribers	6.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$622M	Analyst estimates available to subscribers	$664M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.2% net profit margin	Analyst estimates available to subscribers	4.9% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Fonterra

This financial data table provides comprehensive performance metrics for Fonterra, a company based in New Zealand. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Fonterra generated $14.7B in revenue over the last twelve months.
The company achieved $1.3B in EBITDA over the last twelve months.
Net income over the last twelve months reached $622M.

Fiscal Year Performance

In the most recent fiscal year, Fonterra reported $13.4B in total revenue.
Fiscal year EBITDA was $1.3B.
The company maintained a gross profit margin of 16.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was 9.8%.
Net profit margin reached 4.9% in the most recent fiscal year.

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

Fonterra Stock Performance

Fonterra has current market cap of NZD 9.4B (or $5.5B), and EV of NZD 15.1B (or $8.9B).

Market Cap Evolution

Fonterra Stock Data

As of September 12, 2025, Fonterra's stock price is NZD 6 (or $3).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$8.9B	$5.5B	XXX	XXX	XXX	XXX	$0.39

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Fonterra Valuation Multiples

Fonterra's trades at 0.6x EV/Revenue multiple, and 6.7x EV/EBITDA.

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Fonterra Financial Valuation Multiples

As of September 12, 2025, Fonterra has market cap of $5.5B and EV of $8.9B.

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

Fonterra has a P/E ratio of 8.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$5.5B	XXX	$5.5B	XXX	XXX	XXX
EV (current)	$8.9B	XXX	$8.9B	XXX	XXX	XXX
EV/Revenue	0.6x	XXX	0.6x	XXX	XXX	XXX
EV/EBITDA	6.8x	XXX	6.7x	XXX	XXX	XXX
EV/EBIT	9.5x	XXX	9.4x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	8.9x	XXX	8.4x	XXX	XXX	XXX
EV/FCF	n/a	XXX	7.0x	XXX	XXX	XXX

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

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Fonterra Margins & Growth Rates

Fonterra's last 12 month revenue growth is -14%

Fonterra's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.1M for the same period.

Fonterra's rule of 40 is -4% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fonterra's rule of X is -27% (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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Fonterra Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-14%	XXX	-6%	XXX	XXX	XXX
EBITDA Margin	9%	XXX	9%	XXX	XXX	XXX
EBITDA Growth	-22%	XXX	-7%	XXX	XXX	XXX
Rule of 40	-4%	XXX	-5%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	-27%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	2%	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	10%	XXX	XXX	XXX

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

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