Market cap
$4.3b
End-of-day close multiplied by current shares on issue.
EBO · NZX
EBOS Group (EBO)
Healthcare / Healthcare distributionCovered: HY24 - FY266 published briefings
EBOS Group is an NZX-listed healthcare / healthcare distribution company. Its latest covered result is FY26, with HY24 - FY26 of source-backed result history on Annolyse.
Sections
Latest result
Latest metrics
FY26, released 19 August 2026
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| Metric | Value | Change |
|---|---|---|
| Revenue | $13.5b | ↑ +9.9% |
| EBITDA | $598.7m | ↑ +7.8% |
| NPAT | $225.2m | ↑ +4.7% |
| Operating cash flow | $348.9m | ↓ -16.6% |
| OCF / EBITDA % | 58.3% | ↓ -17.0pp |
| Net debt | $1b | — |
| Net debt / EBITDA | 1.73x | — |
| ROE % | 8.3% | ↑ +0.4pp |
| DPS | 61.5c | — Flat |
| Payout ratio vs NPAT % | 107.9% | ↓ -0.1pp |
Source: latest published briefing (FY26, released 19 August 2026). Change compares against the prior equivalent period: FY25, released 27 August 2025.
Valuation
Valuation
Trailing P/E, EV/EBITDA, price-to-book and price-to-free-cash-flow ratios combine the latest available close with filing data. They are comparative measures, not forecasts or recommendations.
Prices as at close, 4 September 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
19.03x
Recent market cap compared with trailing earnings.
EPS
1.09
Recent filing-derived earnings per share.
PEG
4.05x
P/E compared with recent earnings growth.
EV/EBITDA
8.89x
Enterprise value compared with recent EBITDA.
P/FCF
21x
Market cap compared with recent free cash flow.
P/B
1.58x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
Dividend yield
5.7%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Price history
Daily closes use the full available width, with hover and touch values for each observation. Expand the chart to see more detail.
Share price
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
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P/E over time
Filing-period markers only: EOD close on or before each release date divided by filing-derived trailing NPAT where both inputs verify.
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Ask about EBO
Ask follow-up questions about EBOS Group's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about EBO
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Financial history
Performance over time
The latest period is shown first.
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| Metric | FY2612 MONTHS19 August 2026 | HY266 MONTHS25 February 2026 | FY2512 MONTHS27 August 2025 | HY256 MONTHS19 February 2025 | FY2412 MONTHS21 August 2024 | HY246 MONTHS21 February 2024 | Trend |
|---|---|---|---|---|---|---|---|
| Revenue | $13.5b | $6.8b | $12.3b | $6b | $13.2b | $6.6b | Chart |
| Revenue growth % | 9.9% | 13.0% | -7.0% | -9.0% | 7.8% | 7.1% | Chart |
| EBITDA | $598.7m | $302.7m | $555.6m | $275.8m | $605.6m | $303.1m | Chart |
| EBITDA margin % | 4.4% | 4.5% | 4.5% | 4.6% | 4.6% | 4.6% | Chart |
| PBT | $299.2m | $162.7m | $302.2m | $155.8m | $383.1m | $192m | Chart |
| PBT growth % | -1.0% | 4.4% | -21.1% | -18.9% | 2.6% | -0.3% | Chart |
| NPAT | $225.2m | $124.8m | $215.1m | $110.5m | $271.5m | $136.2m | Chart |
| NPAT growth % | 4.7% | 12.9% | -20.8% | -18.9% | 7.1% | 3.0% | Chart |
| Operating cash flow | $348.9m | $46.6m | $418.5m | $189.8m | $348.2m | $105.5m | Chart |
| OCF / EBITDA % | 58.3% | 15.4% | 75.3% | 68.8% | 57.5% | 34.8% | Chart |
| FCF pre-lease | $204m | -$24m | $273m | $126m | $229.8m | $39.1m | Chart |
| FCF post-lease | $204m | -$24m | $273m | $126m | $229.8m | $39.1m | Chart |
| DPS | 61.5c | 57.0c | 61.5c | 57.0c | 61.5c | 57.0c | Chart |
| Payout ratio vs NPAT % | 107.9% | 93.3% | 108.0% | 100.2% | 83.9% | 80.3% | Chart |
| Annual payout ratio vs EPS % | 107.9% | — | 108.0% | — | 83.9% | — | Chart |
| ROE % | 8.3% | 4.6% | 7.9% | 4.5% | 11.2% | 11.8% | Chart |
| Net debt | $1b | — | — | $1.1b | — | $1.1b | Chart |
| Net debt / EBITDA | 1.73x | — | — | 3.86x | — | 3.59x | Chart |
| Debtor days | 39 | 45 | 41 | 43 | 39 | 42 | Chart |
| Inventory days | 38 | 36 | 40 | 38 | 34 | 37 | Chart |
| Total assets | $7.8b | $7.6b | $7.3b | $6.8b | $6.7b | $6.9b | Chart |
Reference: annolyse.ai/companies/ebo
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.
Filing-only history charts
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Revenue
Reported revenue across covered periods.
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Revenue growth
Like-period revenue growth where comparable.
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EBITDA-equivalent
Company-specific earnings measure where disclosed.
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EBITDA margin
EBITDA-equivalent margin where revenue and earnings are source-backed.
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NPAT
Statutory profit after tax.
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Operating cash flow
Cash generated from operations.
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More financial metrics
Additional filing-backed metrics for this company. Each point links to the relevant published briefing.
OCF / EBITDA
Cash conversion against earnings.
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FCF pre-lease
Operating cash flow less capex before leases.
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FCF post-lease
Free cash flow after lease payments where available.
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ROE
Return on equity.
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Net debt
Borrowings less cash; negative values indicate net cash.
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Net debt / EBITDA
Leverage ratio, suppressed where earnings are not meaningful.
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DPS
Dividend per share declared for the period.
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Payout ratio
Dividend payout against statutory NPAT.
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Debtor days
Receivables days where the working-capital inputs are source-backed.
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Inventory days
Inventory days where the working-capital inputs are source-backed.
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The setup & the reality
HY26 → FY26 Follow-through
The latest result is checked against what the prior briefing said to watch.
Historical setup
What HY26 said to watch
Previous analysisHY26Result releasedAnnolyse analysis published
From Cash conversion collapsed to 15.4% as working capital absorbed $348m
Management has reaffirmed FY26 EBITDA guidance and signalled confidence in an H2 uplift driven by productivity and utilisation of strategic investments. The supplied seasonal pattern shows HY25 delivered 48.8% of FY25 revenue, 49.6% of EBITDA and 51.4% of NPAT, and operating cash flow was historically more H2-weighted (HY25 represented 45.4% of FY25 OCF). That shape is consistent with management's H2 framing on earnings, but it does not by itself rescue the cash gap.
Underlying EBITDA was disclosed at $300m, up 3.2% — well below the 9.7% reported EBITDA growth — which sets a more modest organic baseline against which the reaffirmed guidance and "H2 uplift" claim should be judged.
Open questions
Open questions from HY26
- What specifically drove the $348m working capital absorption, and how much is expected to reverse in H2 FY26?
- Why did the effective tax rate fall to 22.2% from 28.3%, and is this a sustainable run-rate?
- Why does Underlying EBITDA growth of 3.2% diverge so sharply from reported EBITDA growth of 9.7%?
- How is the maintained 57.0 cps interim dividend being funded given FCF of -$24.0m, and what is the policy if cash conversion does not normalise?
- What concrete productivity and utilisation milestones underpin the reaffirmed FY26 EBITDA guidance and the H2 uplift confidence?
This briefing cannot assess customer-level receivables ageing, the split of the working capital build between volume, mix and timing, or any segment-level cash conversion behind the group OCF figure.
Latest result sources
Primary issuer documents used for the FY26 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.
Current period
Annual Report
FY26 / financial reportInvestor Presentation
FY26 / results presentationMedia Release
FY26 / media releaseNZX Results Announcement
FY26 / results announcementPrior comparable period
Annual Report
FY25 / financial reportInvestor Presentation
FY25 / results presentationMedia Release
FY25 / media releaseNZX Results Announcement
FY25 / results announcementInterim context
Interim Report
HY26 / financial reportInvestor Presentation
HY26 / results presentationMedia Release
HY26 / media releaseNZX Results Announcement
HY26 / results announcementRelease context
Annual Meeting and Director Nominations
FY25 / commentaryAnnual Meeting and Director Nominations
FY26 / commentaryImpact of fuel costs on FY26 outlook
FY26 / commentaryInvestor Day Presentation
FY26 / commentaryAnnual Meeting Presentations
HY26 / commentaryPeer context
Other covered Healthcare companies
These companies share a broad sector but may not be direct peers. Compare them only where the underlying measures are genuinely comparable.
Archive
Briefing archive
The full chronological archive contains every published result briefing.
FY26 · Released 19 August 2026
Cash conversion fell to 58.3% while tax relief lifted NPAT, PBT down 1.0%
Revenue rose 9.9% and NPAT rose 4.7%, but PBT fell 1.0% and operating cash conversion dropped to 58.3% from 75.3%.
Read briefing
HY26 · Released 25 February 2026
Cash conversion collapsed to 15.4% as working capital absorbed $348m
Revenue grew 13.0% and FY26 EBITDA guidance was reaffirmed, but operating cash flow fell to $46.6m and the dividend was not covered by free cash flow.
Read briefing
FY25 · Released 27 August 2025
Reported PBT fell 21.1% while cash conversion rose to 75.3%
Reported revenue and earnings fell sharply against a non-comparable prior period, but cash generation and leverage strengthened materially.
Read briefing
HY25 · Released 19 February 2025
NPAT fell 18.9% on a 9.0% revenue decline as dividend held flat
Operating deleverage pushed the NPAT payout ratio to 100.2% while net debt to EBITDA crept up to 3.86x even as cash conversion rebounded.
Read briefing
FY24 · Released 21 August 2024
NPAT up 7.1% but operating cash flow fell 11% and leverage climbed to 1.68x
Cash conversion slid to 57.5% from 68.8% while the full-year dividend absorbed roughly 67.9% of free cash flow, tightening financial headroom.
Read briefing
HY24 · Released 21 February 2024
OCF fell 34.5% and leverage rose to 1.8x as inventories built $140m
EBITDA rose 4.8% but operating cash fell 34.5% on a $140.3m inventory build, leaving the lifted 57.0c dividend uncovered by free cash flow.
Read briefing
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