Ryman Healthcare (RYM)FY25Released 29 May 2025
EBITDAF tripled to $45.5m but NPAT loss widened to -$436.8m
Operating recovery is overshadowed by a capex surge to 70.4% of revenue and a -$94.2m free cash outflow.
Published 28 April 2026
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Operating recovery is overshadowed by a capex surge to 70.4% of revenue and a -$94.2m free cash outflow.
Published 28 April 2026
Read briefingRevenue crossed $2.0bn for the first time and FCF reached 113.3% of NPAT, signalling earnings backed by cash after years of heavy capex.
Published 22 April 2026
Read briefingEBITDA rose 4.1% and a tax credit held NPAT, but a major capex step-up consumed operating cash and net debt sits at 7.2x EBITDA.
Published 22 April 2026
Read briefingEarnings grew on operating leverage and cash conversion strengthened to 178%, but 73% of NPAT and nearly all operating cash flow landed in the second
Published 22 April 2026
Read briefingMargin and cash-conversion gains look durable, but a prior-year tax distortion exaggerates the NPAT swing from a $8.5m loss to a $7.0m profit.
Published 23 April 2026
Read briefingStatutory NPAT fell 22.1% on smaller fair-value gains while gross borrowings rose 23% to fund a NZ$611.4m build programme.
Published 23 April 2026
Read briefingOperating deleverage pushed the NPAT payout ratio to 100.2% while net debt to EBITDA crept up to 3.86x even as cash conversion rebounded.
Published 22 April 2026
Read briefingA tax line that flipped from +30.2% to -46.0% drove the NPAT divergence while pre-lease free cash flow stayed below the historical range at -$52.5m.
Published 28 April 2026
Read briefingNPAT was flat at $5.6m and returns sat below the historical baseline as a $4.9m receivables drawdown drove most of the cash uplift.
Published 22 April 2026
Read briefingOperating leverage delivered above-baseline earnings growth while capex falling 80% to NZ$55.1m rebuilt FPH into a net cash position.
Published 22 April 2026
Read briefingLoss narrowed just 4.9% despite a smaller cost base, leaving $21.9m of cash against a $12.5m half-year operating burn.
Published 22 April 2026
Read briefingHY25 swung from a NZ$0.7m loss to a NZ$0.2m profit, but the prior year's heavy second-half skew sets a demanding bar for FY25.
Published 22 April 2026
Read briefingNet debt cut 25% and cash conversion improved, but a 94.2% payout sits against a $0.07m cash balance and a higher tax rate.
Published 23 April 2026
Read briefingOperating cash flow surged on a NZ$101m receivables collection while items below EBITDA pushed PBT down 160.3% to a NZ$19.5m loss.
Published 22 April 2026
Read briefingA surge in development capex to $255.6m flipped free cash flow to -$63.9m and pushed net debt to $1,527.3m despite stronger occupation-rights cash
Published 23 April 2026
Read briefingCash conversion slid to 57.5% from 68.8% while the full-year dividend absorbed roughly 99.1% of free cash flow, tightening financial headroom.
Published 22 April 2026
Read briefingOperating cash held flat but reserves fell $34.8m and borrowings rose 48.5%, with the final dividend cut 42.9% to 2.0 cents.
Published 22 April 2026
Read briefingRevenue growth of 25.6% flatters the comparison because FY23 included a major acquisition, while a negative effective tax rate of -54.6% inflates
Published 19 May 2026
Read briefingOperating earnings and leverage improved sharply, but a 335.8% effective tax rate turned PBT of $3.6m into an $8.5m net loss.
Published 23 April 2026
Read briefingEBITDA rose just 3.2% on 7.4% revenue growth, while a -10.9% effective tax rate drove NPAT up 104.5% and development capex was paused.
Published 22 April 2026
Read briefingFY24 NPAT of $0.6m swung from a $1.3m loss on 18.2% B2B growth, with the first half a $0.7m loss and the second half doing all the work.
Published 22 April 2026
Read briefingCash burn held near $25.8m while equity eroded 34% to $54.6m, leaving runway as the central question on a still loss-making business.
Published 22 April 2026
Read briefingManagement writes off a prior acquisition that failed to deliver, leaving a $1.0m cash buffer and ongoing operating burn.
Published 28 April 2026
Read briefingUnderlying profit of NZ$190.3m and 1,103 ORA sales describe a steadier operational result than the headline IFRS NPAT, while net debt rose NZ$332m.
Published 23 April 2026
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