Market cap
$555.1m
End-of-day close multiplied by current shares on issue.
VGL · NZX
Vista Group International is an NZX-listed technology / media software company with FY19 - FY25 of published result briefings.
Snapshot
FY25, released 27 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $164.3m | ↑ +87.8% |
| EBITDA | $28.2m | ↑ +347.4% |
| NPAT | $1.9m | ↑ +103.7% |
| Operating cash flow | $27.8m | ↑ +578.0% |
| OCF / EBITDA % | 98.6% | ↑ +134.6pp |
| Net debt | -$0.7m | ↑ +97.7% |
| Net debt / EBITDA | -0.02x | ↓ -100.7% |
| ROE % | 1.3% | ↑ +32.8pp |
| PBT | $4.4m | ↑ +106.8% |
| FCF pre-lease | $6.7m | ↑ +148.1% |
Source: latest published briefing (FY25, released 27 February 2026). Change compares against the prior equivalent period: FY20, released 1 March 2021.
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
$555.1m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
292.18x
Recent market cap compared with trailing earnings.
EPS
0.01
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
19.66x
Enterprise value compared with recent EBITDA.
P/FCF
82.86x
Market cap compared with recent free cash flow.
P/B
3.71x
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 Vista Group International'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 | FY2512 MONTHS27 February 2026 | HY256 MONTHS14 August 2025 | HY246 MONTHS6 August 2024 | HY236 MONTHS25 August 2023 | HY216 MONTHS27 August 2021 | FY2012 MONTHS1 March 2021 | FY1912 MONTHS27 February 2020 | Trend |
|---|---|---|---|---|---|---|---|---|
| Revenue | $164.3m | $77m | $69.6m | $69.7m | $44.9m | $87.5m | $144.5m | Chart |
| Revenue growth % | 9.5% | 10.6% | -0.1%Outside range low revenue growth. -0.1%; 3-period range 0.2% to 55.2%. Revenue growth: -0.1%, below normal range; 3-period mean 22.0%, range 0.2%-55.2%. | 55.2%Outside range high revenue growth. 55.2%; 3-period range -0.1% to 10.6%. Revenue growth: 55.2%, above normal range; 3-period mean 3.6%, range -0.1%-10.6%. | 0.2% | -39.4% | 10.5% | Chart
|
| EBITDA | $28.2m | $10m | $7.2m | $2.5m | $6.4m | -$11.4m | $31.1m | Chart |
| EBITDA margin % | 17.2% | 13.0% | 10.3% | 3.6%Outside range low ebitda margin. 3.6%; 3-period range 10.3% to 14.3%. EBITDA margin: 3.6%, below normal range; 3-period mean 12.5%, range 10.3%-14.3%. | 14.3%Outside range high ebitda margin. 14.3%; 3-period range 3.6% to 13%. EBITDA margin: 14.3%, above normal range; 3-period mean 9.0%, range 3.6%-13.0%. | -13.0% | 21.5% | Chart
|
| PBT | $4.4m | -$1.3m | -$3.6m | -$9.9m | -$2.1m | -$64.3m | $18.4m | Chart |
| PBT growth % | 144.4% | — | — | — | — | — | -12.4% | Chart |
| NPAT | $1.9m | -$1.5m | -$2.4m | -$8.7m | -$2.8m | -$51.4m | $10.8m | Chart |
| NPAT growth % | — | — | — | — | — | — | -12.2% | — |
| Operating cash flow | $27.8m | $14.1m | $3m | $6.2m | $1m | $4.1m | $15.5m | Chart |
| OCF / EBITDA % | 98.6% | 141.0% | 41.7% | 248.0%Outside range high ocf / ebitda cash conversion. 248%; 3-period range 15.6% to 141%. OCF / EBITDA cash conversion: 248.0%, above normal range; 3-period mean 66.1%, range 15.6%-141.0%. | 15.6%Outside range low ocf / ebitda cash conversion. 15.6%; 3-period range 41.7% to 248%. OCF / EBITDA cash conversion: 15.6%, below normal range; 3-period mean 143.6%, range 41.7%-248.0%. | -36.0% | 49.8% | Chart
|
| FCF pre-lease | $6.7m | $5.1m | -$6.4m | -$5.1m | -$5.1m | $2.7m | -$1.2m | Chart |
| FCF post-lease | -$0.9m | $1m | -$8.5m | — | — | $2.7m | — | Chart |
| DPS | — | — | — | 0.0c | — | — | 2.1c | Chart |
| Payout ratio vs NPAT % | — | — | — | — | — | — | 47.1% | — |
| Annual payout ratio vs EPS % | — | — | — | — | — | — | 47.1% | — |
| ROE % | 1.3% | -1.1%Outside range high roe. -1.1%; 3-period range -6% to -1.7%. ROE: -1.1%, above normal range; 3-period mean -3.1%, range -6.0%--1.7%. | -1.7% | -6.0%Outside range low roe. -6%; 3-period range -1.7% to -1.1%. ROE: -6.0%, below normal range; 3-period mean -1.5%, range -1.7%--1.1%. | -1.7% | -31.5% | 7.1% | Chart
|
| Net debt | -$0.7m | -$3.1m | $100m | -$18.2m | -$25.7m | -$30.9m | -$7.7m | Chart |
| Net debt / EBITDA | -0.02x | -0.31x | 13.89xOutside range high net debt / ebitda. 0.01x; 3-period range -7.3x to -0.31x. Net debt / EBITDA: 0.01x, above normal range; 3-period mean -3.87x, range -7.30x--0.31x. | -7.28x | -4.02x | 2.71x | -0.25x | Chart
|
| Debtor days | 67 | 68 | 67Outside range low debtor days. 67d; 3-period range 68d to 188d. Debtor days: 67.2 days, below normal range; 3-period mean 111.6 days, range 67.8 days-187.8 days. | 79 | 188Outside range high debtor days. 188d; 3-period range 67d to 79d. Debtor days: 187.8 days, above normal range; 3-period mean 71.4 days, range 67.2 days-79.1 days. | 198 | 142 | Chart
|
| Total assets | $240.9m | $222m | $210m | $227m | $250.9m | $252m | $243.6m | Chart |
Reference: annolyse.ai/companies/vgl
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.
Leverage ratio, suppressed where earnings are not meaningful.
Dividend per share declared for the period.
Dividend payout against statutory NPAT.
Receivables 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 Vista Group EBITDA jumps 38.9% as cloud demand outruns delivery capacity
No formal FY25 guidance is supplied. However, the supplied second-half shape context shows HY24 contributed only 46.4% of FY24 revenue and 33.3% of FY24 EBITDA, so the business is structurally second-half-weighted. Annualising HY25 revenue gives roughly NZ$154m, but a similar H2 weighting would imply meaningfully more — directionally consistent with management's reference to upgraded long-term aspirations and accelerating delivery to meet demand.
What the release does support: continued revenue and margin expansion into H2, and a credible path to a full-year FCF positive print. What it does not support: a quantified FY25 EBITDA margin target, a delivery-capacity timeline, or a clear date for sustained NPAT positivity. The gap matters because the equity story now hinges on H2 follow-through after the H1 margin expansion.
Open questions
This briefing cannot assess the quality, contractual structure, or churn profile of the Vista Cloud client cohort underlying the demand commentary.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
FY25 · Released 27 February 2026
Operating leverage and the cloud transition delivered a return to profit, but heavy capitalised development still left free cash flow at -$0.9m.
HY25 · Released 14 August 2025
Revenue grew 10.6% to NZ$77.0m and operating cash flow more than tripled to NZ$14.1m, but the group remained loss-making at PBT.
HY24 · Released 6 August 2024
The reported earnings recovery is real, yet cash conversion dropped to 41.7% from 248% and Vista must deliver a sharp H2 cash reversal.
HY23 · Released 25 August 2023
Revenue gains were absorbed by transformation spend while NZ$11.3m capex turned operating cash improvement into a NZ$21.0m cash drawdown.
HY21 · Released 27 August 2021
PBT improved 95.6% and EBITDA swung to a $6.4m profit, but receivables absorbed $13.3m and operating cash fell 94% to $1.0m.
FY20 · Released 1 March 2021
The $67.1m cash balance reflects new borrowings rather than operating strength, with $13m of credit loss provisions absorbed in EBITDA.
FY19 · Released 27 February 2020
Operating cash fell 43.8% as receivable days stretched to 142 and capex hit 11.6% of revenue, reversing prior strong cash generation.
Get the next Vista Group International result briefing and five-year history updates by email.