Livestock Improvement Corporation Limited
LIC.NZ · NZE
Company research
Livestock Improvement Corporation Limited (LIC.NZ) is a New Zealand farmer-owned agri-tech co-operative founded in 1909 and headquartered in Hamilton, New Zealand, that specialises in developing and delivering advanced dairy genetics, herd management, and farm technology solutions to improve the productivity and prosperity of dairy farmers. The company operates across four key segments — NZ Market Genetics, Herd Testing, Farm Software, and Diagnostics — offering services ranging from bovine genetic breeding materials and artificial breeding to herd testing, DNA parentage verification, and its widely adopted MINDA® farm management software, which is used by more than 90% of New Zealand dairy farmers. With approximately 900 full-time employees and a seasonal workforce swelling to 2,000 during peak mating season, LIC maintains a strong domestic presence alongside international operations in Australia, Ireland, the United Kingdom, and beyond, exporting world-class dairy genetics to over 20 countries. As a farmer-owned co-operative listed on the New Zealand Exchange (NZX), LIC returns all profits to its farmer shareholders through dividends or reinvests them into research and development, cementing its position as one of New Zealand's largest private agricultural R&D investors.
Research reports
Evaluates LIC’s strong reported earnings but argues that a large contribution from extraordinary items means statutory profits overstate true underlying performance; the article highlights that NZ$12m of one-off items boosted profit, cautions that these are unlikely to recur, and warns investors not to rely solely on headline EPS despite solid multi‑year earnings growth.
AInvest · July 19, 2025Livestock Improvement (NZSE:LIC): Assessing Share Price Underperformance Amid Earnings Growth and Strategic InnovationArgues LIC is materially undervalued relative to its fundamentals, noting strong 2024/25 revenue and NPAT growth, a debt‑free balance sheet, and significant R&D in genomics and methane reduction, while explaining share price underperformance through co‑operative structure, low liquidity, and governance concerns; the piece frames LIC as a long‑term opportunity with defensive earnings and SaaS‑driven efficiency, but flags dairy price exposure, dividend sustainability, and capital‑intensive innovation as key risks.