Market cap
$1.7b
End-of-day close multiplied by current shares on issue.
Result releasedAnnolyse analysis published
Precinct FY26: valuation movements weigh on stapled profit
Adverse property fair-value movements affected the statutory result; the traded security combines both stapled entities.
PCT revenue trajectory
Revenue context before the current result.
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PCT Operating profit margin
Operating profit margin across covered periods.
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PCT operating cash flow
Operating cash flow across covered periods.
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PCT NPAT trajectory
Statutory profit after tax across covered periods.
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Market context
Valuation
These ratios pair a market close from around the result date with verified filing data. An unavailable metric means the required inputs were missing or unsuitable for comparison.
Prices as at close, 22 October 2026
Price and market cap
The latest close and share count context for the market price.
i
Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.00
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not available for this company right now.
P/FCF
Not available
Not available for this company right now.
P/B
0.81x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
Dividend yield
7.3%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
- Release date
- 27 August 2026
- Published
- 23 October 2026
Sections
Key metrics
Numbers worth scanning first
FY26 vs FY25
Revenue
$278.1m
Caveat: metric quality flags apply; use this value with basis context.
Net profit after tax
−$8.2m
Caveat: metric quality flags apply; use this value with basis context.
Net cash inflow from operating activities
$90.4m
+4.1% ↑ vs $86.8m
Cash and cash equivalents
$22m
-22.5% ↓ vs $28.4m
Total assets
$3.7b
-0.2% ↓ vs $3.7b
Analysis ofPCT FY26Result releasedAnnolyse analysis published
What changed
Precinct Properties Group's audited FY26 statements report a NZ$8.2 million loss attributable to equity holders of the stapled entity, compared with an NZ$11.0 million profit in FY25
Gross operating revenue increased to NZ$278.1 million from NZ$266.1 million.
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| NZ$ million | FY26 | FY25 |
|---|---|---|
| Gross operating revenue | 278.1 | 266.1 |
| Statutory profit/(loss) before tax | -22.3 | 5.3 |
| Tax benefit | 14.1 | 5.7 |
| Profit/(loss) attributable to the stapled entity | -8.2 | 11.0 |
What matters
The income statement includes NZ$107.5 million of adverse investment- and development-property fair-value movements, compared with NZ$27.6 million
Other income and expense items also affect the statutory result; the operating subtotal is not equivalent to statutory profit before tax.
Precinct combines two stapled entities. For accounting purposes PPNZ is identified as parent and PPIL equity appears as a non-controlling interest, but the traded PCT security includes both. PPNZ's NZ$11.4 million profit and PPIL's NZ$19.6 million loss sum to the stapled group's NZ$8.2 million loss. The FY25 components were NZ$14.4 million and negative NZ$3.4 million. Deducting PPIL a second time would change the basis of the result.
The NZX results form labels negative NZ$12.6 million as net profit. The audited income statement identifies negative NZ$8.2 million as net profit and negative NZ$12.6 million as total comprehensive income. The figures here follow the audited income statement, preserving that distinction.
Total assets were NZ$3,691.3 million, liabilities NZ$1,561.5 million and equity NZ$2,129.8 million. FY25 amounts were NZ$3,699.2 million, NZ$1,754.9 million and NZ$1,944.3 million. Interest-bearing liabilities totalled NZ$1,417.5 million, compared with NZ$1,610.3 million; lease liabilities are presented separately.
Expectations
The audited statements establish the statutory result and cash flows, but they do not establish the timing of a recovery in property valuations
No forward valuation or earnings target is assessed here. Property cash earnings, financing costs and valuation movements need to remain separate when considering future performance.
Quality of result
Operating cash inflow was NZ$90.4 million, compared with NZ$86.8 million
Investing activities used NZ$75.4 million, compared with NZ$241.7 million. Financing activities used NZ$21.4 million, compared with generating NZ$161.2 million. Cash fell by NZ$6.4 million to NZ$22.0 million from NZ$28.4 million.
Unresolved
Open questions
This briefing cannot assess future valuations, leasing outcomes or the resolution of the issuer-form discrepancy.
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Ask about PCT FY26
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Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about PCT FY26
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Data appendix
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Sources
Current period
Precinct Properties Group audited FY26 annual report
FY26 / financial reportPrior comparable period
FY25 comparative in FY26 audited report
FY25 / financial reportRelated insights
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