Market cap
$2.4b
End-of-day close multiplied by current shares on issue.
FRW · NZX
Freightways Group is an NZX-listed transport & infrastructure / freight and logistics company with HY25 - HY26 of published result briefings.
Snapshot
HY26, released 16 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $718.2m | ↑ +8.5% |
| EBITDA | $143.4m | ↑ +9.9% |
| NPAT | $52.3m | ↑ +17.3% |
| Operating cash flow | $94.9m | ↑ +24.4% |
| OCF / EBITDA % | 66.2% | ↑ +7.7pp |
| Net debt | $211m | ↓ -11.1% |
| Net debt / EBITDA | 1.47x | ↓ -19.2% |
| ROE % | 9.8% | ↑ +1.0pp |
| DPS | 21.0c | ↑ +10.5% |
| Payout ratio vs NPAT % | 71.7% | ↓ -4.3pp |
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
$2.4b
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
27.79x
Recent market cap compared with trailing earnings.
EPS
0.49
Recent filing-derived earnings per share.
PEG
1.61x
P/E compared with recent earnings growth.
EV/EBITDA
16.63x
Enterprise value compared with recent EBITDA.
P/FCF
15.03x
Market cap compared with recent free cash flow.
P/B
4.54x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
3.1%
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 Freightways Group'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 | Trend |
|---|---|---|---|---|
| Revenue | $718.2m | $1.3b | $662.1m | Chart |
| Revenue growth % | 8.5% | 6.6% | 6.7% | Chart |
| EBITDA | $143.4m | $146.1m | $130.5m | Chart |
| EBITDA margin % | 20.0% | 11.3% | 19.7% | Chart |
| PBT | $74.5m | $112m | $62.7m | Chart |
| PBT growth % | 18.8% | 10.6% | 9.6% | Chart |
| NPAT | $52.3m | $79.9m | $44.6m | Chart |
| NPAT growth % | 17.3% | 12.9% | 9.0% | Chart |
| Operating cash flow | $94.9m | $173.6m | $76.3m | Chart |
| OCF / EBITDA % | 66.2% | 118.9% | 58.5% | Chart |
| FCF pre-lease | $79.8m | $144.1m | $62m | Chart |
| DPS | 21.0c | 29.2c | 19.0c | Chart |
| Payout ratio vs NPAT % | 71.7% | 107.8% | 76.0% | Chart |
| Annual payout ratio vs EPS % | — | 107.8% | — | — |
| ROE % | 9.8% | 16.0% | 8.8% | Chart |
| Net debt | $211m | $215.2m | $237.5m | Chart |
| Net debt / EBITDA | 1.47x | 1.47x | 1.82x | Chart |
| Debtor days | 102 | 0 | 1 | Chart |
| Inventory days | 7 | 4 | 3 | Chart |
| Total assets | $1.4b | $1.4b | $1.4b | Chart |
Reference: annolyse.ai/companies/frw
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.
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 up 12.9% but dividend lifts to 107.8% of earnings
Management states it expects to grow revenue and earnings in FY26, but no quantitative target is supplied and the release provides no forward-work or pipeline figures, so the gap between aspiration and quantification cannot be closed from this document.
On phasing, NPAT was 55.9% first-half weighted and revenue was 51.3% first-half weighted, so the second half was the softer profit half. That matters because the FY26 growth expectation is anchored to a year whose run-rate has been decelerating, and the implied annualised revenue of $1.3b is only modestly above reported FY25.
Open questions
This briefing cannot assess management's qualitative outlook detail, divisional pipeline, or any forward dividend policy framing beyond what is present in the supplied extraction.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 16 February 2026
The NZ$77m acquisition price from the VT Freight Express acquisition sits behind the period; operating metrics remain the main read.
FY25 · Released 18 August 2025
Cash generation funds the step-up at 59.7% of pre-lease FCF, but a payout above NPAT shifts how the capital return reads.
HY25 · Released 17 February 2025
Operating cash flow rose 30.8% and net debt fell, signalling a deliberate payout reset rather than a weak underlying result.
Get the next Freightways Group result briefing and five-year history updates by email.