Market cap
$89.6m
End-of-day close multiplied by current shares on issue.
CVT · NZX
Comvita is an NZX-listed consumer / honey and wellness company with HY24 - HY26 of published result briefings.
Snapshot
HY26, released 23 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $118m | ↑ +14.1% |
| Operating profit | $7.7m | ↑ +25.7% |
| NPAT | $4.6m | ↑ +243.8% |
| Operating cash flow | $20.8m | ↑ +439.6% |
| OCF / Operating profit % | 269.8% | ↑ +369.7pp |
| Net debt | $48.7m | ↓ -43.3% |
| Net debt / Operating profit | 6.33x | ↓ -54.9% |
| ROE % | 7.9% | ↑ +9.2pp |
| PBT | $4.3m | ↑ +202.4% |
| FCF pre-lease | $20.3m | ↑ +273.3% |
Source: latest published briefing (HY26, released 23 February 2026). Change compares against the prior equivalent period: HY24, released 21 February 2024.
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
$89.6m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not available for this company right now.
EPS
Not available
Not available for this company right now.
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
1.54x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
0.0%
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.
Chat
Ask follow-up questions about Comvita'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 MONTHS23 February 2026 | HY246 MONTHS21 February 2024 | Trend |
|---|---|---|---|
| Revenue | $118m | $103.4m | Chart |
| Revenue growth % | 18.3% | -7.8% | Chart |
| Operating profit | $7.7m | $6.1m | Chart |
| Operating profit margin % | 6.5% | 5.9% | Chart |
| PBT | $4.3m | -$4.2m | Chart |
| NPAT | $4.6m | -$3.2m | Chart |
| Operating cash flow | $20.8m | -$6.1m | Chart |
| OCF / Operating profit % | 269.8% | -99.9% | Chart |
| FCF pre-lease | $20.3m | -$11.7m | Chart |
| FCF post-lease | $16.4m | — | — |
| DPS | — | 1.0c | — |
| ROE % | 7.9% | -1.4% | Chart |
| Net debt | $48.7m | $85.8m | Chart |
| Net debt / Operating profit | 6.33x | 14.03x | Chart |
| Debtor days | 51 | 71 | Chart |
| Inventory days | 105 | 252 | Chart |
| Total assets | $164.4m | $391.5m | Chart |
Reference: annolyse.ai/companies/cvt
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.
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 Revenue -7.8% drove PBT to a $4.2m loss as net debt/EBITDA hit 14x
No quantified FY24 or FY25 target is supplied in the structured release data. Management commentary references a recent guidance reset on 1 February 2024 reflecting weaker mainland China consumer sentiment and the loss of some distribution agreements, with new North American agreements expected to contribute in H2 FY24, and reaffirms an FY25 outlook without a numeric anchor here.
Without a stated target or seasonality split, the release does not support a confident H2 bridge. What it does support is that the H2 starting point — elevated inventory, stretched receivables, and 14x leverage — leaves little room for further demand disappointment, and that any FY24 recovery depends on North American distribution wins landing on schedule.
Open questions
This briefing cannot assess covenant headroom, the scheduled phasing of the North American distribution wins, or whether inventory carries impairment risk at current sell-through rates.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 23 February 2026
The operating turnaround is real, yet FCF-to-NPAT of 357.3% reflects working-capital release and a 76% capex cut rather than steady-state cash
HY24 · Released 21 February 2024
China weakness pushed operating cash flow negative, lifted leverage to 14x EBITDA and forced a 60% dividend cut despite a held 60% gross margin.
Get the next Comvita result briefing and five-year history updates by email.