The dairy giant's expected to release its annual results this week.
It follows a tumultuous year, with the co-operative counting the cost of the Beingmate write-down and the Danone settlement.
Brokers Forsyth Barr estimates that Fonterra's net profit could be half that of last year.
Senior analyst Chelsea Leadbetter says Fonterra is not the be all and end all anymore, and investors have other options.
The results are due on Thursday.
