Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. The a2 Milk Co's shares outstanding for the quarter that ended in Dec. 2025 was 725 Mil.
The a2 Milk Co's quarterly shares outstanding
increased
from Jun. 2025 (724 Mil) to Dec. 2025 (725 Mil).
It means The a2 Milk Coissued new shares from Jun. 2025 to Dec. 2025 .
The a2 Milk Co's annual shares outstanding
increased
from Jun. 2024 (723 Mil) to Jun. 2025 (724 Mil).
It means The a2 Milk Coissued new shares from Jun. 2024 to Jun. 2025 .
The a2 Milk Co (ASX:A2M) Shares Outstanding (EOP) Explanation
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
The a2 Milk Co Shares Outstanding (EOP) Related Terms
The a2 Milk Co Shares Outstanding (EOP) Historical Data
* Premium members only.
The historical data trend for The a2 Milk Co's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:A2M vs KHC, GIS: Shares Outstanding (EOP) Comparison
For the Packaged Foods subindustry, The a2 Milk Co's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
The a2 Milk Co Shares Outstanding (EOP) vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, The a2 Milk Co's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where The a2 Milk Co's Shares Outstanding (EOP) falls into.
The a2 Milk Co Shares Outstanding (EOP) Calculation
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
What does a Shares Outstanding (EOP) of 725 Mil mean?
The a2 Milk Co (ASX:A2M) has a Shares Outstanding (EOP) of 725 Mil as of Dec. 2025. The total shares a company has outstanding, at period-end. View historical data on The a2 Milk Co and its competitors.
Is The a2 Milk Co's Shares Outstanding (EOP) too high?
The a2 Milk Co's current Shares Outstanding (EOP) is 725 Mil. Overall, The a2 Milk Co has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The a2 Milk Co's Shares Outstanding (EOP) compare to KHC and GIS?
The a2 Milk Co's Shares Outstanding (EOP) of 725 Mil can be compared against companies in the Consumer Packaged Goods industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for a Consumer Packaged Goods company?
A good Shares Outstanding (EOP) depends on the Consumer Packaged Goods industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on The a2 Milk Co and its competitors. The a2 Milk Co's current Shares Outstanding (EOP) is 725 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The a2 Milk Co stock overvalued right now?
Based on GuruFocus' analysis, The a2 Milk Co (ASX:A2M) is currently considered Modestly Overvalued. The stock's GF Value™ is A$6.67, compared to a current price of A$7.48 — trading 12.1% above its estimated fair value. The current Shares Outstanding (EOP) is 725 Mil. The a2 Milk Co's overall GF Score™ is 82/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For The a2 Milk Co (ASX:A2M), the current Shares Outstanding (EOP) is 725 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is The a2 Milk Co (ASX:A2M) Overvalued in 2026?
Based on GuruFocus' analysis, The a2 Milk Co stock appears to be overvalued.
The current stock price of A$7.48 is trading 12.1% above its estimated GF Value™ of A$6.67.
GuruFocus considers The a2 Milk Co to be Modestly Overvalued.
Key valuation signals for ASX:A2M:
Shares Outstanding (EOP): 725 Mil
GF Value™: A$6.67 vs. price of A$7.48 (12.1% above fair value)
No single metric tells the full story. See the ASX:A2M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
A2 Milk is a New Zealand licensor and marketer of fresh milk, infant formula, and other dairy products that lack the A1 beta-casein protein. The firm was founded in 2000 by Corran McLachlan, who developed a genetic test to determine which proteins a cow produces in its milk, and business partner Howard Paterson. The company has been through a tumultuous history of receivership, legal battles, and strategic shifts, but emerged in its current structure in 2006 and listed publicly in March 2013.
82GF Score
Get the complete analysis for ASX:A2M
Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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