Market cap
$10.2b
End-of-day close multiplied by current shares on issue.
CEN · NZX
Contact Energy is an NZX-listed energy & utilities / integrated gentailer company with HY23 - HY26 of published result briefings.
Snapshot
HY26, released 16 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $1.6b | ↓ -5.3% |
| EBITDAF | $500m | ↑ +23.8% |
| NPAT | $204m | ↑ +43.7% |
| Operating cash flow | $308m | ↑ +51.7% |
| OCF / EBITDAF % | 61.6% | ↑ +11.4pp |
| Net debt | $2.9b | ↑ +49.6% |
| Net debt / EBITDAF | 5.78xOutside range high net debt / ebitda. 5.8x; 3-period range 4.58x to 5.03x. Net debt / EBITDA: 5.80x, above normal range; 3-period mean 4.80x, range 4.58x-5.03x. | ↑ +20.9% |
| ROE % | 4.6% | ↓ -0.8pp |
| DPS | 16.0c | — Flat |
| Payout ratio vs NPAT % | 76.6% | ↓ -12.8pp |
Source: latest published briefing (HY26, released 16 February 2026). Change compares against the prior equivalent period: HY25, released 17 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
$10.2b
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
26.07x
Recent market cap compared with trailing earnings.
EPS
0.37
Recent filing-derived earnings per share.
PEG
0.6x
P/E compared with recent earnings growth.
EV/EBITDA
13.57x
Enterprise value compared with recent EBITDA.
P/FCF
18.8x
Market cap compared with recent free cash flow.
P/B
2.31x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
4.1%
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 Contact Energy'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 MONTHS17 February 2025 | FY2412 MONTHS19 August 2024 | HY246 MONTHS19 February 2024 | FY2312 MONTHS14 August 2023 | HY236 MONTHS13 February 2023 | Trend |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6b | $3.4b | $1.7b | $2.9b | $1.3b | $2.1b | $994m | Chart |
| Revenue growth % | -5.3% | 20.1% | 30.7% | 35.2% | 31.4%Outside range high revenue growth. 31.4%; 3-period range -12.7% to 30.7%. Revenue growth: 31.4%, above normal range; 3-period mean 4.2%, range -12.7%-30.7%. | -11.3% | -12.7%Outside range low revenue growth. -12.7%; 3-period range -5.3% to 31.4%. Revenue growth: -12.7%, below normal range; 3-period mean 18.9%, range -5.3%-31.4%. | Chart
|
| EBITDAF | $500m | $872m | $404m | $675m | $354m | $460m | — | Chart |
| EBITDAF margin % | 30.9%Outside range high ebitda margin. 30.9%; 3-period range 23.7% to 27.1%. EBITDA margin: 30.9%, above normal range; 3-period mean 25.2%, range 23.7%-27.1%. | 25.4% | 23.7%Outside range low ebitda margin. 23.7%; 3-period range 24.7% to 30.9%. EBITDA margin: 23.7%, below normal range; 3-period mean 27.6%, range 24.7%-30.9%. | 23.6% | 27.1% | 21.7% | — | Chart
|
| PBT | $289m | $463m | $201m | $338m | $213m | $177m | -$9m | Chart |
| PBT growth % | 43.8% | 37.0% | -5.6% | 91.0% | — | -30.0% | — | Chart |
| NPAT | $204m | $331m | $142m | $235m | $153m | $0.1m | -$7m | Chart |
| NPAT growth % | 43.7% | 40.9% | -7.2% | n/m | — | -50.0% | — | Chart |
| Operating cash flow | $308m | $544m | $203m | $580m | $251m | $395m | $115m | Chart |
| OCF / EBITDAF % | 61.6% | 62.4% | 50.2% | 85.9% | 70.9%Outside range high ocf / ebitda cash conversion. 70.9%; 3-period range 46.7% to 61.6%. OCF / EBITDA cash conversion: 70.9%, above normal range; 3-period mean 52.9%, range 46.7%-61.6%. | 85.9% | — | Chart
|
| FCF pre-lease | $249m | $434m | $138m | $471m | $187m | $298m | $63m | Chart |
| FCF post-lease | $249m | $434m | $138m | $471m | $187m | $298m | $63m | Chart |
| DPS | 16.0c | 23.0c | 16.0c | 23.0c | 14.0c | 21.0c | 14.0c | Chart |
| Payout ratio vs NPAT % | 76.6% | 93.8% | 89.4% | 123.8% | 71.8% | 214.7% | — | Chart |
| Annual payout ratio vs EPS % | — | 93.8% | — | 123.7% | — | 214.7% | — | Chart |
| ROE % | 4.6% | 12.0% | 5.4% | 9.0% | 5.7%Outside range high roe. 5.7%; 3-period range -0.3% to 5.4%. ROE: 5.7%, above normal range; 3-period mean 3.2%, range -0.3%-5.4%. | 4.5% | -0.3%Outside range low roe. -0.3%; 3-period range 4.6% to 5.7%. ROE: -0.3%, below normal range; 3-period mean 5.2%, range 4.6%-5.7%. | Chart
|
| Net debt | $2.9b | $1.9b | $1.9b | $1.7b | $1.6b | $2.6b | $1.2b | Chart |
| Net debt / EBITDAF | 5.78xOutside range high net debt / ebitda. 5.8x; 3-period range 4.58x to 5.03x. Net debt / EBITDA: 5.80x, above normal range; 3-period mean 4.80x, range 4.58x-5.03x. | 2.22x | 4.78x | 2.49x | 4.58xOutside range low net debt / ebitda. 4.58x; 3-period range 4.78x to 5.8x. Net debt / EBITDA: 4.58x, below normal range; 3-period mean 5.20x, range 4.78x-5.80x. | 5.63x | — | Chart
|
| Debtor days | — | 28 | — | 21 | — | 27 | — | Chart |
| Inventory days | 31 | 14 | 30 | 10 | 23 | 15 | 28 | Chart |
| Total assets | $9.7b | $6.8b | $6.4b | $6.2b | $6.1b | $5.8b | $5.4b | Chart |
Reference: annolyse.ai/companies/cen
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.
Inventory 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 NPAT rose 40.9% but cash conversion fell to 62.4% on working capital build
No quantitative full-year targets are disclosed in the supplied material. The shape was second-half weighted on earnings: HY25 delivered 49.6% of revenue but only 42.9% of NPAT, so the second half carried the bulk of profit growth. Repeatability depends on hydrology and wholesale price conditions, neither of which is forecast in the release.
Forward dividend guidance is 40 cents per share against the 39 cents declared for FY25. The full-year payout against pre-lease free cash flow rose to 82.0% from 62.0%, so coverage tightened materially even though the dividend remained covered by FCF on this basis.
Open questions
This briefing cannot assess hydrology conditions, hedge positioning, or the post-period portfolio integration that will shape FY26 cash generation and leverage trajectory.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 16 February 2026
EBITDAF margin reached 30.9%, above the historical range, while a $525m equity raise lifted total assets 52% and pushed leverage to 5.8x.
FY25 · Released 18 August 2025
Reported earnings growth ran well ahead of cash generation as receivables and inventory absorbed NZD 155m of working capital.
HY25 · Released 17 February 2025
EBITDAF grew 14.1% yet operating cash dropped 19% on a $57m inventory build, lifting the NPAT payout ratio to 89.4%.
FY24 · Released 19 August 2024
Underlying EBITDAF grew 16% to $663m once the FY23 base is adjusted for the $113m onerous contract provision booked in the prior period.
HY24 · Released 19 February 2024
Wholesale earnings drove a strong operating recovery, but net debt rose NZ$384m and leverage remains elevated at 4.58x EBITDAF.
FY23 · Released 14 August 2023
Capex jumped to $541m while EBITDAF fell 14%, lifting leverage from 1.7x to 5.6x and materially tightening financial flexibility.
HY23 · Released 13 February 2023
Cash conversion dropped to 46.7%, below the historical baseline, leaving the maintained 14.0cps dividend uncovered by free cash flow.
Get the next Contact Energy result briefing and five-year history updates by email.