Market cap
$193.6m
End-of-day close multiplied by current shares on issue.
BRM · NZX
Barramundi is an NZX-listed investment companies / listed investment company company with FY21 - HY26 of published result briefings.
Snapshot
HY26, released 16 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $2.4m | ↑ +2.2% |
| NPAT | -$15.4m | ↓ -273.0% |
| Operating cash flow | -$13m | ↑ +12.2% |
| ROE % | -7.1%Outside range low roe. -7.1%; 3-period range 3.6% to 8.1%. ROE: -7.1%, below normal range; 3-period mean 6.1%, range 3.6%-8.1%. | ↓ -10.7pp |
| DPS | 1.3c | ↓ -16.3% |
| PBT | -$15m | ↓ -263.0% |
| Total assets | $221.7m | ↓ -11.3% |
Source: latest published briefing (HY26, released 16 February 2026). Change compares against the prior equivalent period: HY25, released 21 February 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
$193.6m
End-of-day close multiplied by current shares on issue.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
9.5%
Trailing dividends compared with the latest close.
Premium / discount
-12.3%
For investment companies, price compared with reported NTA.
Total return
Not available
Available once dividend and adjustment data are verified.
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.05
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not useful for this reporting shape.
P/FCF
Not available
Not available for this company right now.
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 Barramundi'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 MONTHS16 February 2026 | FY2512 MONTHS18 August 2025 | HY256 MONTHS21 February 2025 | FY2412 MONTHS19 August 2024 | HY246 MONTHS22 February 2024 | FY2312 MONTHS22 August 2023 | HY236 MONTHS17 February 2023 | FY2212 MONTHS22 August 2022 | HY226 MONTHS28 February 2022 | FY2112 MONTHS24 August 2021 | Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4m | $4.8m | $2.4m | $4.2m | $19.7m | $4m | $15.2m | $3.8m | $1.9b | $57.2m | Chart |
| Revenue growth % | 2.2% | 16.2% | 12.6% | 4.4% | 29.1% | 5.2% | 692.0% | -93.4% | -94.4% | n/m | Chart |
| EBITDA | — | — | — | — | — | — | $13.6m | -$35.2m | $15.4m | $51.7m | Chart |
| EBITDA margin % | — | — | — | — | — | — | 89.0% | -924.8% | 0.8% | 90.4% | Chart |
| PBT | -$15m | $8.5m | $9.2m | $29m | $17.8m | $39.4m | $13.6m | -$35.2m | $15.4m | $51.7m | Chart |
| PBT growth % | — | -70.7% | -48.3% | -26.4% | 30.9%Outside range high pbt growth. 30.9%; 4-period range -263.6% to -11.7%. PBT growth: 30.9%, above normal range; 4-period mean -93.5%, range -263.6%--11.7%. | — | -11.7% | — | -50.3% | 307.1% | Chart
|
| NPAT | -$15.4m | $7.9m | $8.9m | $28.1m | $17m | $38.3m | $12.2m | -$34.6m | $14.9m | $52.3m | Chart |
| NPAT growth % | — | -71.9% | -47.6% | -26.6% | 39.3%Outside range high npat growth. 39.3%; 4-period range -272.8% to -18.1%. NPAT growth: 39.3%, above normal range; 4-period mean -97.8%, range -272.8%--18.1%. | — | -18.1% | — | -52.8% | 318.4% | Chart
|
| Operating cash flow | -$13m | -$0.51m | -$14.8m | $11.3m | $9.9m | $13.1m | $5.9m | -$18m | -$23.8m | $6.7m | Chart |
| OCF / EBITDA % | — | — | — | — | — | — | 43.4% | 51.2% | -154.2% | 12.9% | Chart |
| DPS | 1.3c | — | 1.5c | 1.5c | 1.4c | 1.4c | 1.4c | 1.4c | 1.7c | 1.7c | Chart |
| Payout ratio vs NPAT % | — | — | 51.3%Outside range high payout ratio versus npat. 51.3%; 3-period range 23.6% to 30%. Payout ratio versus NPAT: 51.3%, above normal range; 3-period mean 26.5%, range 23.6%-30.0%. | 29.6% | 23.6%Outside range low payout ratio versus npat. 23.6%; 3-period range 25.8% to 51.3%. Payout ratio versus NPAT: 23.6%, below normal range; 3-period mean 35.7%, range 25.8%-51.3%. | 19.8% | 30.0% | — | 25.8% | 24.2% | Chart
|
| Annual payout ratio vs EPS % | — | — | — | 29.6% | — | 19.8% | — | — | — | 24.2% | Chart |
| ROE % | -7.1%Outside range low roe. -7.1%; 3-period range 3.6% to 8.1%. ROE: -7.1%, below normal range; 3-period mean 6.1%, range 3.6%-8.1%. | 3.3% | 3.6% | 13.0% | 8.1%Outside range high roe. 8.1%; 3-period range -7.1% to 6.6%. ROE: 8.1%, above normal range; 3-period mean 1.0%, range -7.1%-6.6%. | 19.3% | 6.9% | -19.4%Unprecedented low roe. -19.4%; 4-period range 3.3% to 28.2%. ROE: -19.4%, unprecedented low; 4-period mean 15.9%, range 3.3%-28.2%. | 6.6% | 28.2%Outside range high roe. 28.2%; 4-period range -19.5% to 19.3%. ROE: 28.2%, above normal range; 4-period mean 4.0%, range -19.4%-19.3%. | Chart
|
| Debtor days | — | — | 15 | 1 | 2 | 1 | 3 | 1 | 0 | 0 | Chart |
| Total assets | $221.7m | $241.7m | $249.9m | $218.7m | $212.3m | $201.2m | $179.5m | $172.3m | $227.9m | $188.5m | Chart |
Reference: annolyse.ai/companies/brm
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.
Net tangible asset or net asset value per share, shown in per-share cents for chart readability.
Recurring investment-income or revenue-return proxy, excluding fair-value movement where disclosed.
Total income or return including fair-value or capital movement where disclosed.
Net asset base attributable to shareholders or unitholders.
Recurring investment income or revenue-return coverage of cash distributions where source-backed.
Portfolio or NAV total return compared with the disclosed benchmark or index return.
The setup & the reality
The latest result is checked against what the prior briefing said to watch.
Historical setup
From NPAT fell 71.9% as portfolio gains cooled; coverage dropped to 39.4%
No quantitative targets were supplied. Shape context is informative, however: HY25 NPAT was NZ$8.9m, while the full-year NPAT was NZ$7.9m, implying a roughly NZ$1.0m loss in the second half. The H1 share of full-year NPAT therefore exceeded 100%, indicating the portfolio gave back gains between January and June rather than building on the interim result.
That second-half softness, against a still within-range benchmark return, is the most important forward-looking signal in this release. It matters because distribution coverage already sits at 39.4%; another period of muted portfolio return would put further pressure on the capacity to fund distributions without drawing on capital.
Open questions
This briefing cannot assess the manager's stock-level positioning, fee structure, or fund-versus-benchmark performance attribution because expense ratio, portfolio total return percentage and holdings detail were not supplied.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 16 February 2026
Recurring investment income held above its historical range, but a NZ$13.5m portfolio loss pushed NPAT to -NZ$15.4m and NTA per share to NZ$0.63.
FY25 · Released 18 August 2025
Record investment income of NZ$4.8m was outpaced by NZ$12.3m in distributions, leaving capital gains to fund the gap.
HY25 · Released 21 February 2025
Smaller fair-value gains drove NPAT down 47.6%, lifting the payout-to-NPAT ratio to 51.3% versus a 26.5% historical mean.
FY24 · Released 19 August 2024
Investment income rose 4.4% to $4.2m, but lower fair-value contribution cut total return 24% and ROE from 19.2% to 13.0%.
HY24 · Released 22 February 2024
Portfolio total return of 8.8% beat the benchmark by 1.1pp, but a lower effective tax rate flattered the 39.3% NPAT print.
FY23 · Released 22 August 2023
Investment income covered only 40.7% of distributions paid, so capital recycling continues to fund shareholder payouts despite the headline profit
HY23 · Released 17 February 2023
An 8.9% portfolio return lagged a 10.7% benchmark, and NPAT fell 18.1% on the smaller asset base.
FY22 · Released 22 August 2022
Unprecedented portfolio drawdown eroded NAV while distributions of NZ$11.0m were paid against only NZ$3.8m of investment income.
HY22 · Released 28 February 2022
The portfolio's 7.7% return beat a weak 3.7% benchmark, but distribution coverage of 35% leaves the payout dependent on capital returns.
FY21 · Released 24 August 2021
Headline NPAT was dominated by $53.9m of portfolio gains while investment income fell 6.5%, leaving distributions only 40.5% covered.
Get the next Barramundi result briefing and five-year history updates by email.