Noumi Limited (NOU) AI Stock Analysis

• Market Cap: AU$36.02M
• Dividend Yield: N/A
• Average Volume (3M): 58.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.49
• Revenue Growth: 1.03%
• EPS Growth: -52.56%
• Country: AU
• Employees: 500
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.06
• Shares Outstanding: 277,109,300
• 10 Day Avg. Volume: 37,033
• 30 Day Avg. Volume: 58,993
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.07
• Price to Sales (P/S): 0.05
• P/FCF Ratio: 1.15
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$0.19
• Price Target Upside: 46.15% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: AU$0.12 ▼(-8.46% Downside)

Noumi Limited's overall stock score is primarily impacted by its weak financial performance and valuation. The company's high leverage and negative equity pose significant risks, while the negative P/E ratio reflects ongoing profitability challenges. Technical indicators suggest a bearish trend, further weighing on the stock's outlook.

Positive Factors

Product Innovation

Noumi's focus on innovation in health and wellness solutions positions it well to capture growing consumer demand for natural products, supporting long-term growth.

Distribution Partnerships

Strong distribution partnerships expand market reach and customer base, enhancing revenue potential and supporting sustained business growth.

Cash Flow Management

Improved cash flow management indicates better operational efficiency, which can enhance financial stability and support future investments.

Negative Factors

High Leverage

High leverage and negative equity pose risks to financial stability, potentially limiting growth opportunities and increasing vulnerability to economic shifts.

Profitability Challenges

Ongoing profitability challenges, reflected in negative margins, may hinder the company's ability to reinvest in growth and innovation.

Volatile Revenue Growth

Inconsistent revenue growth indicates potential market or operational challenges, which could impact long-term financial planning and stability.

Noumi Limited Business Overview & Revenue Model

Company Description

noumi Limited engages in sourcing, manufacture, selling, marketing, and distribution of plant-based beverages, and dairy and nutritional ingredient products to wholesale and consumer markets. It operates in Dairy and Nutritional, and Plant Based Beverages segments. The company offers a range of ultra-heat treatment technology (UHT) shelf stable dairy milk beverage, nutritional products, and performance and adult nutritional powders. It also provides various UHT shelf stable food and beverage products, including almond, oat, soy, rice, coconut, hazelnut, and other nut-based beverages and liquid stocks. The company provides its products under the Milklab, Australia's Own, Crankt, Vital Strength, Noumi Nutritionals, Uproteinn, So Natural, and Vitalife brands. It operates in Australia, New Zealand, South Africa, China, South East Asia, and the Middle East. noumi Limited was formerly known as Freedom Foods Group Limited. The company was incorporated in 1984 and is headquartered in Ingleburn, Australia. noumi Limited is a subsidiary of Arrovest Pty Limited.

How the Company Makes Money

Noumi Limited generates revenue through the sale of its core products, which include dietary supplements and functional foods. The company's revenue model primarily relies on direct sales to consumers via e-commerce platforms and retail partnerships. Key revenue streams include product sales, subscriptions for regular deliveries of health products, and collaborations with health professionals and fitness centers. Significant partnerships with retailers and online marketplaces enhance its distribution capabilities, driving customer acquisition and increasing sales volume. Additionally, Noumi Limited's focus on brand loyalty and customer retention through high-quality products and customer engagement strategies contributes to its earnings.

Noumi Limited Financial Statement Overview

Summary

Noumi Limited faces significant financial challenges, with a negative net profit margin and declining EBITDA margin. The balance sheet shows high leverage and negative equity, indicating financial instability. While there are some positive trends in cash flow management, overall financial health is concerning.

Income Statement

Noumi Limited has shown some improvement in its gross profit margin over the years, reaching 27.14% in 2025, indicating better cost management. However, the company continues to face challenges with profitability, as evidenced by a negative net profit margin of -25.18% and a declining EBITDA margin. Revenue growth has been inconsistent, with a notable increase in 2025, but past fluctuations suggest volatility in sales performance.

Balance Sheet

The balance sheet reveals significant financial instability, with a negative stockholders' equity indicating potential solvency issues. The debt-to-equity ratio is negative, reflecting high leverage and financial risk. Although there is a slight improvement in return on equity, the overall financial health remains concerning due to persistent negative equity.

Cash Flow

Cash flow analysis shows some positive trends, such as a reduction in negative free cash flow and an improvement in operating cash flow. However, the operating cash flow to net income ratio remains low, indicating challenges in converting income into cash. The free cash flow to net income ratio is relatively high, suggesting some efficiency in cash management despite overall financial struggles.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	595.84M	595.84M	589.79M	551.56M	522.34M	547.29M
Gross Profit	161.72M	161.72M	145.75M	134.77M	98.42M	93.53M
EBITDA	49.20M	-132.09M	-61.24M	-6.37M	-122.53M	28.01M
Net Income	-150.00M	-150.00M	-98.33M	-46.91M	-160.74M	-53.18M
Balance Sheet
Total Assets	265.17M	265.17M	316.20M	377.95M	420.13M	538.67M
Cash, Cash Equivalents and Short-Term Investments	23.18M	23.18M	21.57M	18.56M	16.21M	31.67M
Total Debt	614.75M	614.75M	533.76M	491.00M	455.01M	462.39M
Total Liabilities	717.51M	717.51M	621.14M	581.49M	569.14M	537.18M
Stockholders Equity	-452.34M	-452.34M	-304.94M	-203.54M	-149.01M	1.49M
Cash Flow
Free Cash Flow	27.66M	27.66M	11.02M	-49.00K	-46.87M	-56.67M
Operating Cash Flow	32.52M	32.52M	15.83M	4.31M	-40.86M	-54.01M
Investing Cash Flow	2.09M	2.09M	1.84M	2.22M	-3.93M	13.50M
Financing Cash Flow	-33.01M	-33.01M	-21.64M	-4.18M	29.33M	53.80M

Noumi Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.13
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NOU, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.13, and below the 200-day MA of 0.14, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.12 is Neutral, neither overbought nor oversold. The STOCH value of -13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NOU.

Noumi Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
NUC	45 Neutral	AU$22.56M	-5.56	-29.43%	―	102.21%	69.47%
HCT	43 Neutral	AU$33.11M	39.13	―	―	6.76%	―
NOU	40 Underperform	AU$36.02M	-0.23	―	―	1.03%	-52.56%
AHF	38 Underperform	AU$27.50M	-5.00	-20.54%	―	13.92%	36.28%
WNX	38 Underperform	AU$7.70M	-0.20	-184.71%	―	39.53%	49.99%

Noumi Limited Corporate Events

Noumi Limited Issues Unquoted Equity Securities for Employee Incentive

Noumi Limited has announced the issuance of unquoted equity securities, specifically options expiring on September 11, 2027, with a total of 1,504,348 securities issued. This move is part of an employee incentive scheme and is not intended for quotation on the ASX. The issuance of these securities reflects Noumi Limited’s strategic efforts to incentivize its workforce, potentially impacting its operational dynamics and aligning employee interests with company performance.

Noumi Limited Extends CEO’s Contract for Continued Leadership Stability

Noumi Limited has announced a change to CEO Michael Perich’s contract, extending it from a fixed term ending December 2025 to an open-ended term. This change aims to provide leadership stability as Mr. Perich has been instrumental in leading the company’s transformation program since August 2020, with the board expecting this move to support the completion of the program and ensure long-term sustainable growth.

Noumi Limited’s 2025 AGM Resolutions Successfully Passed

Noumi Limited announced the successful outcomes of its 2025 Annual General Meeting, where all proposed resolutions were approved by poll. Key resolutions included the adoption of the Remuneration Report, re-election of directors Anthony Perich AM and Jane Mckellar, approval of the Noumi Equity Incentive Plan, and renewal of Proportional Takeover Provisions. These approvals are expected to support Noumi’s strategic initiatives and strengthen its governance framework, potentially enhancing its market position and stakeholder confidence.

Noumi Limited Releases 2025 AGM Presentation and Addresses

Noumi Limited has released its 2025 Annual General Meeting presentation and addresses, indicating a strategic focus on its core offerings in the dairy and plant-based beverage market. This announcement underscores Noumi’s commitment to maintaining its leadership position in the FMCG sector by leveraging its state-of-the-art manufacturing capabilities and diverse product portfolio.

Noumi Limited Reports Strong Q1 FY26 Revenue Growth Amidst Legal Settlements

Noumi Limited reported a 9% increase in consolidated revenue for Q1 FY26, reaching $162.4 million. The company’s plant-based milks segment experienced a slight decline due to lower contract manufacturing revenues, while the dairy and nutritionals segment saw significant growth. Noumi’s cash flow was positively impacted by a $12.8 million operating cash flow, despite legal expenses. The company successfully settled legacy legal matters and maintained a strong cash position with $21.9 million in unrestricted cash and $10 million in undrawn facilities. Noumi is preparing for the maturity of its Convertible Notes in 2027, with a current redemption value of $597.4 million.