Market cap
$123.8m
End-of-day close multiplied by current shares on issue.
NZK · NZX
New Zealand King Salmon Investments is an NZX-listed primary industries / aquaculture company with HY24 - HY26 of published result briefings.
Snapshot
HY26, released 26 May 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $100.3m | ↑ +6.1% |
| EBITDA | $24m | ↑ +317.6% |
| NPAT | $13.8m | ↑ +166.3% |
| Operating cash flow | $7.3m | ↓ -62.8% |
| OCF / EBITDA % | 30.5%Outside range low ocf / ebitda cash conversion. 30.5%; 3-period range 63.7% to 342.6%. OCF / EBITDA cash conversion: 30.5%, below normal range; 3-period mean 178.7%, range 63.7%-342.6%. | ↓ -312.0pp |
| Net debt | -$38.2m | ↑ +30.5% |
| Net debt / EBITDA | -1.6x | ↑ +83.3% |
| ROE % | 6.5%Outside range high roe. 6.5%; 3-period range -11.4% to 6.1%. ROE: 6.5%, above normal range; 3-period mean -0.7%, range -11.4%-6.1%. | ↑ +17.9pp |
| DPS | 0.0c | — |
| PBT | $19.1m | ↑ +165.6% |
Source: latest published briefing (HY26, released 26 May 2026). Change compares against the prior equivalent period: HY26, released 25 September 2025.
Valuation
A compact read on what the market price implies next to the latest filing data. The numbers are a starting point for comparison, not a recommendation.
The latest close and share count context for the market price.
Market cap
$123.8m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
5.84x
Recent market cap compared with trailing earnings.
EPS
0.04
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
2.26x
Enterprise value compared with recent EBITDA.
P/FCF
10.56x
Market cap compared with recent free cash flow.
P/B
0.59x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
0.0%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
Indexed lines compare direction from the first positive comparable filing point. The axis is an index, not dollars or cents.
Chat
Ask follow-up questions about New Zealand King Salmon Investments's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Longitudinal view
The latest period is shown first.
| Metric | HY266 MONTHS26 May 2026 | HY266 MONTHS25 September 2025 | FY2512 MONTHS27 March 2025 | HY256 MONTHS24 September 2024 | FY2412 MONTHS27 March 2024 | HY246 MONTHS21 September 2023 | Trend |
|---|---|---|---|---|---|---|---|
| Revenue | $100.3m | $94.5m | $211m | $101.7m | $187.1m | $91.6m | Chart |
| Revenue growth % | 6.1% | -7.1%Outside range low revenue growth. -7.1%; 3-period range 6.1% to 14.4%. Revenue growth: -7.1%, below normal range; 3-period mean 10.5%, range 6.1%-14.4%. | 12.8% | 11.1% | 11.9% | 14.4%Outside range high revenue growth. 14.4%; 3-period range -7.1% to 11.1%. Revenue growth: 14.4%, above normal range; 3-period mean 3.4%, range -7.1%-11.1%. | Chart
|
| EBITDA | $24m | $5.7m | $26.4m | $12.5m | $47m | $18.5m | Chart |
| EBITDA margin % | 23.9% | 6.1%Outside range low ebitda margin. 6.1%; 3-period range 12.3% to 23.9%. EBITDA margin: 6.1%, below normal range; 3-period mean 18.8%, range 12.3%-23.9%. | 12.5% | 12.3% | 25.1% | 20.2% | Chart
|
| PBT | $19.1m | -$29.1m | $19.1m | $9.2m | $40.1m | $14.9m | Chart |
| PBT growth % | — | — | -52.4% | -38.3% | n/m | — | Chart |
| NPAT | $13.8m | -$20.8m | $13.4m | $6m | $28.5m | $10.6m | Chart |
| NPAT growth % | — | — | -53.0% | -43.4% | n/m | — | Chart |
| Operating cash flow | $7.3m | $19.6m | $38.5m | $16.2m | $13.2m | $11.8m | Chart |
| OCF / EBITDA % | 30.5%Outside range low ocf / ebitda cash conversion. 30.5%; 3-period range 63.7% to 342.6%. OCF / EBITDA cash conversion: 30.5%, below normal range; 3-period mean 178.7%, range 63.7%-342.6%. | 342.5%Outside range high ocf / ebitda cash conversion. 342.6%; 3-period range 30.5% to 129.8%. OCF / EBITDA cash conversion: 342.6%, above normal range; 3-period mean 74.7%, range 30.5%-129.8%. | 145.8% | 129.8% | 28.1% | 63.8% | Chart
|
| FCF pre-lease | -$5m | $11.1m | $27.7m | $11m | $7.2m | $10.2m | Chart |
| FCF post-lease | — | — | — | $11m | — | — | — |
| DPS | 0.0c | 0.0c | 0.0c | 0.0c | — | — | Chart |
| ROE % | 6.5%Outside range high roe. 6.5%; 3-period range -11.4% to 6.1%. ROE: 6.5%, above normal range; 3-period mean -0.7%, range -11.4%-6.1%. | -11.4%Outside range low roe. -11.4%; 3-period range 3.1% to 6.5%. ROE: -11.4%, below normal range; 3-period mean 5.2%, range 3.1%-6.5%. | 6.9% | 3.1% | 14.9% | 6.1% | Chart
|
| Net debt | -$38.2m | -$55m | -$45.2m | -$25.2m | -$15.5m | -$25.2m | Chart |
| Net debt / EBITDA | -1.6x | -9.59x | -1.71x | -2.02x | -0.33x | -1.36x | Chart
|
| Debtor days | 30Outside range high debtor days. 30d; 3-period range 23d to 28d. Debtor days: 29.7 days, above normal range; 3-period mean 26.1 days, range 23.4 days-28.1 days. | 23Outside range low debtor days. 23d; 3-period range 27d to 30d. Debtor days: 23.4 days, below normal range; 3-period mean 28.2 days, range 26.9 days-29.7 days. | 24 | 28 | 36 | 27 | Chart
|
| Inventory days | 38Outside range low inventory days. 38d; 3-period range 41d to 64d. Inventory days: 38.2 days, below normal range; 3-period mean 52.6 days, range 41.0 days-63.6 days. | 41 | 47 | 64Outside range high inventory days. 64d; 3-period range 38d to 53d. Inventory days: 63.6 days, above normal range; 3-period mean 44.2 days, range 38.2 days-53.3 days. | 72 | 53 | Chart
|
| Total assets | $263m | $225.4m | $252.2m | $241.4m | $238.9m | $209m | Chart |
Reference: annolyse.ai/companies/nzk
Note: Figures are shown as reported. Half-year and full-year absolute values are not directly comparable. Growth rates and ratios are the meaningful comparison across mixed periods.
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Reported revenue across covered periods.
Like-period revenue growth where comparable.
Company-specific earnings measure where disclosed.
EBITDA-equivalent margin where revenue and earnings are source-backed.
Statutory profit after tax.
Cash generated from operations.
Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.
Cash conversion against earnings.
Operating cash flow less capex before leases.
Free cash flow after lease payments where available.
Return on equity.
Borrowings less cash; negative values indicate net cash.
Dividend per share declared for the period.
Receivables days where the working-capital inputs are source-backed.
Inventory days where the working-capital inputs are source-backed.
Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.
The setup & the reality
The latest result is checked against what the prior briefing said to watch.
Historical setup
From NPAT swung to a $20.8m loss on a $31.2m biological asset write-down
HY25 represented 48.2% of FY25 revenue and 42.0% of FY25 EBITDA, meaning the prior-year shape was second-half weighted. Annualising HY26 revenue gives $188.9m, well below FY25's $211.0m, and the held FY26 EBITDA guidance of $1m-$7m signals management does not expect a normal second-half catch-up.
The release does not quantify when harvest volumes recover or what biomass position underpins FY26 guidance. The result therefore supports a near-term earnings reset narrative but leaves the timing of any return toward FY25-style EBITDA unresolved.
Open questions
This briefing cannot assess the biological and environmental drivers of the biomass position, nor the forward harvest schedule that will determine whether FY26 guidance is conservative or realistic.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 26 May 2026
Pre-lease FCF turned negative at NZ$5.0m as capex rose and debtors built, even with biological performance lifting EBITDA to NZ$24.0m.
HY26 · Released 25 September 2025
Operating cash flow rose 21.2% to $19.6m, but volumes fell 17% and FY26 pro-forma EBITDA guidance of just $1-7m points to genuine operating pressure.
FY25 · Released 27 March 2025
Headline NPAT fell on a $7.7m fair-value loss on biological assets versus a $15.8m prior gain, while operating cash flow nearly tripled to $38.5m.
HY25 · Released 24 September 2024
A $7.7m non-cash biological-asset/inventory swing pulled GAAP earnings down even as volumes, revenue and the company's guided pro-forma measure
FY24 · Released 27 March 2024
Reported NPAT of $28.5m is flattered by a $15.8m fair value uplift and cash conversion ran at just 28.1% as working capital absorbed $12.3m.
HY24 · Released 21 September 2023
Recovery from the FY23 mortality event delivered a $36.4m EBITDA swing, but reported EBITDA of $18.5m sits well above pro-forma EBITDA of $10.7m.
Get the next New Zealand King Salmon Investments result briefing and five-year history updates by email.