An article on A2M published yesterday by seekingalpha.com. It...

An article on A2M published yesterday by seekingalpha.com. It discusses various strengths and weaknesses of A2M. Note that the values are in USD.

Below is an extract from the article's conclusion and then the link:

"...Valuation
I valued the a2 Milk Company via a discounted cash flow model using a 10% cost of equity and a 2% terminal growth rate in 2030. What follows is the result of my upside, base and downside scenarios in terms of annualized revenue growth, 2020 and 2030 EBITDA margin, and per share intrinsic value.

Upside: revenue growth: 13.8%; 2020 EBITDA margin: 24.2%; 2030 EBITDA margin: 35.3%; intrinsic value $10.14.

Base: revenue growth: 9.5%; 2020 EBITDA margin: 31.5%; 2030 EBITDA margin: 38.3%; intrinsic value: $7.76.

Downside: revenue growth: 4.9%; 2020 EBITDA margin: 31.2%; 2030 EBITDA margin: 40.4%; intrinsic value: $5.54.

The a2 Milk Company is a very good business with promising growth prospects. However, the high expectations embedded in the stock price result in a full valuation. As such, I will not be purchasing shares at current levels..."

https://www.google.com/amp/s/seekin...k-brand-and-growth-fully-captured-stock-price