X 
70.58
-0.23%
Close of 9 Nov 2026, in AUD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NZD, from our data supplier.
Revenue
NZD 2.75bn
FY2017FY2026
Net income
NZD 167.4m
FY2017FY2026
Free cash flow
NZD 923.7m
FY2017FY2026
Shareholders' equity
NZD 5.40bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NZD 2.75bn | NZD 1.91bn | NZD 1.57bn | NZD 1.40bn | NZD 1.12bn | NZD 848.8m | NZD 699.6m | NZD 516.1m | NZD 375.7m | NZD 278.1m |
| Gross profit | NZD 2.31bn | NZD 1.70bn | NZD 1.43bn | NZD 989.4m | NZD 810.4m | NZD 616.8m | NZD 500.4m | NZD 359.9m | NZD 246.3m | NZD 176.1m |
| Research and development | NZD 458.0m | NZD 354.0m | NZD 294.7m | NZD 529.9m | NZD 250.1m | NZD 161.6m | NZD 106.9m | NZD 79.2m | NZD 63.2m | NZD 55.7m |
| Operating income | NZD 316.1m | NZD 69.0m | NZD 255.7m | NZD 57.3m | NZD 35.6m | NZD 61.7m | NZD 30.7m | NZD 10.6m | −NZD 18.0m | −NZD 67.7m |
| Net income | NZD 167.4m | NZD 207.0m | NZD 160.2m | −NZD 113.5m | −NZD 9.1m | NZD 19.7m | NZD 3.3m | −NZD 25.3m | −NZD 23.0m | −NZD 65.0m |
| Diluted earnings per share | 0.98 | 1.28 | 1.04 | -0.74 | -0.06 | 0.13 | 0.02 | -0.18 | -0.17 | -0.47 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NZD 9.10bn | NZD 4.06bn | NZD 2.95bn | NZD 2.33bn | NZD 2.17bn | NZD 1.86bn | NZD 1.12bn | NZD 931.6m | NZD 329.7m | NZD 268.7m |
| Cash and short-term investments | NZD 1.93bn | NZD 2.12bn | NZD 1.53bn | NZD 1.04bn | NZD 867.0m | NZD 1.02bn | NZD 519.3m | NZD 440.1m | NZD 75.2m | NZD 104.9m |
| Total liabilities | NZD 3.69bn | NZD 2.06bn | NZD 1.56bn | NZD 1.34bn | NZD 1.21bn | NZD 1.18bn | NZD 708.4m | NZD 592.4m | NZD 103.0m | NZD 63.3m |
| Debt | NZD 2.14bn | NZD 1.22bn | NZD 1.22bn | NZD 1.14bn | NZD 1.02bn | NZD 950.2m | NZD 496.8m | NZD 440.1m | NZD 45.0m | NZD 5.4m |
| Shareholders' equity | NZD 5.40bn | NZD 2.00bn | NZD 1.39bn | NZD 984.5m | NZD 957.6m | NZD 685.9m | NZD 409.1m | NZD 339.2m | NZD 226.7m | NZD 205.4m |
| Shares outstanding | 171m | 162m | 154m | 153m | 150m | 148m | 143m | 141m | 139m | 138m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NZD 933.1m | NZD 812.8m | NZD 591.8m | NZD 390.4m | NZD 236.4m | NZD 218.6m | NZD 162.3m | NZD 106.6m | NZD 56.5m | −NZD 4.1m |
| Capital spending | −NZD 9.4m | −NZD 13.2m | −NZD 6.6m | −NZD 279.3m | −NZD 245.3m | −NZD 163.5m | −NZD 135.2m | −NZD 104.0m | −NZD 83.8m | −NZD 62.4m |
| Free cash flow | NZD 923.7m | NZD 799.7m | NZD 585.2m | NZD 111.2m | −NZD 8.9m | NZD 55.1m | NZD 27.1m | NZD 2.6m | −NZD 27.3m | −NZD 66.6m |
| Dividends paid | — | — | — | — | — | −NZD 10.9m | — | — | — | — |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NZD 1.62bn | NZD 1.24bn | NZD 1.11bn | NZD 995.9m | NZD 913.4m | NZD 793.9m | NZD 399.8m | NZD 730.8m |
| Gross profit | NZD 1.08bn | NZD 931.7m | NZD 986.9m | NZD 885.3m | NZD 810.7m | NZD 574.3m | NZD 349.9m | NZD 530.6m |
| Operating income | NZD 186.5m | NZD 194.6m | NZD 186.3m | NZD 176.4m | NZD 188.1m | NZD 69.1m | NZD 23.7m | NZD 70.3m |
| Net income | NZD 34.0m | NZD 139.7m | NZD 132.7m | NZD 95.1m | NZD 120.4m | NZD 53.7m | NZD 27.0m | −NZD 96.0m |
| Diluted earnings per share | 0.20 | 0.86 | 0.82 | 0.62 | 0.78 | 0.35 | 0.18 | -0.63 |
| Cash from operations | NZD 405.0m | NZD 530.0m | NZD 452.0m | NZD 358.0m | NZD 367.0m | NZD 228.0m | — | NZD 230.0m |
| Capital spending | −NZD 6.0m | −NZD 3.0m | −NZD 9.0m | −NZD 3.0m | −NZD 127.0m | −NZD 122.0m | — | −NZD 144.0m |
| Free cash flow | NZD 399.0m | NZD 527.0m | NZD 443.0m | NZD 355.0m | NZD 240.0m | NZD 106.0m | — | NZD 86.0m |
| Total assets | NZD 9.17bn | NZD 6.10bn | NZD 4.06bn | NZD 3.91bn | NZD 2.71bn | NZD 2.65bn | NZD 2.65bn | NZD 2.49bn |
| Cash and short-term investments | NZD 1.95bn | NZD 4.21bn | NZD 2.12bn | NZD 1.95bn | NZD 1.40bn | NZD 1.26bn | NZD 1.26bn | NZD 1.12bn |
| Debt | NZD 1.88bn | NZD 1.19bn | NZD 1.22bn | NZD 1.19bn | NZD 132.5m | NZD 1.20bn | NZD 1.18bn | NZD 1.14bn |
| Shareholders' equity | NZD 5.44bn | NZD 4.01bn | NZD 2.00bn | NZD 1.89bn | NZD 1.28bn | NZD 1.18bn | NZD 1.18bn | NZD 1.05bn |
Financial ratios
Data as of 29 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 83.9% | 89.0% | 91.1% | 70.7% | 72.5% | 72.7% |
| Operating margin | 13.5% | 3.6% | 16.3% | 4.1% | 3.2% | 7.3% |
| Net margin | 6.1% | 10.8% | 10.2% | -8.1% | -0.8% | 2.3% |
| Return on equity | 3.1% | 10.4% | 11.5% | -11.5% | -1.0% | 2.9% |
| Return on assets | 1.8% | 5.1% | 5.4% | -4.9% | -0.4% | 1.1% |
| Free cash flow yield | 10.2% | 8.8% | 6.7% | 7.6% | 5.5% | 4.4% |
| Revenue growth | 44.1% | 21.5% | 12.3% | 25.3% | 31.7% | 21.3% |
| Earnings growth | -19.1% | 29.2% | -241.1% | 1145.7% | -146.3% | 490.5% |
| Current ratio | 1.09x | 1.24x | 6.62x | 4.95x | 5.45x | 7.13x |
| Debt to equity | 0.35x | 0.57x | 0.76x | 1.05x | 0.87x | 1.16x |
| Equity ratio | 59.4% | 49.2% | 47.2% | 42.3% | 44.1% | 36.9% |
| Interest coverage | 1.99x | 0.62x | 6.14x | 1.33x | 0.86x | 0.60x |
| R&D as a share of sales | 17.9% | 18.5% | 18.7% | 37.9% | 22.4% | 19.0% |
| Buybacks as a share of market value | -5.3% | -5.2% | -1.0% | -1.4% | -1.6% | -3.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.3% | 26.5% | 30.6% |
| Operating income | 76.7% | 38.7% | — |
| Net income | — | 53.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 86.0% | 84.2% | 81.8% | 79.4% |
| Operating margin | 8.3% | 9.1% | 8.3% | 5.7% |
| Net margin | 8.0% | 5.5% | 4.5% | 2.1% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 88.6 | 108.4 | 196.9 | -183.4 | -1409.1 | — | — | -543.5 | -310.5 | -74.1 |
| Price to sales | 5.4 | 11.8 | 20.1 | 14.9 | 11.5 | 30.0 | 36.5 | 26.7 | 19.0 | 17.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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