Market cap
$24.8m
End-of-day close multiplied by current shares on issue.
GEN · NZX
General Capital (GEN)
Financials / Finance companyCovered: HY23 - FY268 published briefings
General Capital is an NZX-listed financials / finance company company. Its latest covered result is FY26, with HY23 - FY26 of source-backed result history on Annolyse.
Sections
Latest result
Latest metrics
FY26, released 22 June 2026
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| Metric | Value | Change |
|---|---|---|
| Revenue | $26.8m | ↑ +18.2% |
| NPAT | $2.7m | ↓ -3.6% |
| Operating cash flow | -$24.6m | ↓ -159.4% |
| Net debt | $225.2m | ↑ +51.5% |
| ROE % | 8.6% | ↓ -1.0pp |
| DPS | 0.8c | ↑ +97.7% |
| PBT | $4m | ↑ +2.6% |
| FCF pre-lease | -$24.6m | — |
| FCF post-lease | -$24.6m | — |
| Debtor days | 1 | ↑ +35.1% |
Source: latest published briefing (FY26, released 22 June 2026). Change compares against the prior equivalent period: FY25, released 26 May 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.
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Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
9.2x
Recent market cap compared with trailing earnings.
EPS
0.03
Recent filing-derived earnings per share.
PEG
Not available
Not meaningful without positive comparable earnings growth.
EV/EBITDA
Not available
Not meaningful for this company type.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
0.79x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
Dividend yield
4.4%
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 GEN
Ask follow-up questions about General Capital's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about GEN
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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Reference: annolyse.ai/companies/gen
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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- HY23 GEN HY: Outside range low revenue growth. 4.4%; 3-period range 19% to 38.6%. Revenue growth: 4.4%, below normal range; 3-period mean 30.7%, range 19.0%-38.6%.
- HY25 GEN HY: Outside range high revenue growth. 38.6%; 3-period range 4.4% to 34.6%. Revenue growth: 38.6%, above normal range; 3-period mean 19.3%, range 4.4%-34.6%.
- FY23 GEN FY: Outside range low revenue growth. -99.7%; 3-period range 18.2% to 31.8%. Revenue growth: -99.7%, below normal range; 3-period mean 25.1%, range 18.2%-31.8%.
- FY25 GEN FY: Outside range high revenue growth. 31.8%; 3-period range -99.7% to 25.3%. Revenue growth: 31.8%, above normal range; 3-period mean -18.7%, range -99.7%-25.3%.
NPAT
Statutory profit after tax.
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Operating cash flow
Cash generated from operations.
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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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More financial metrics
Additional filing-backed metrics for this company. Each point links to the relevant published briefing.
ROE
Return on equity.
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Net debt
Borrowings less cash; negative values indicate net cash.
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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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- HY23 GEN HY: Outside range low debtor days. 0d; 3-period range 0d to 3d. Debtor days: 0.0 days, below normal range; 3-period mean 1.1 days, range 0.0 days-3.2 days.
- HY26 GEN HY: Outside range high debtor days. 3d; 3-period range 0d to 0d. Debtor days: 3.2 days, above normal range; 3-period mean 0.1 days, range 0.0 days-0.2 days.
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 PBT fell 31.8% on 19% revenue growth as costs and book outpaced earnings
No forward targets or guidance are disclosed in this release. The supplied second-half shape figures for FY25 appear to mix scales between subsidiaries and the group, so they are not a reliable seasonal anchor for HY26 and are set aside.
Against the historical baseline, 19.0% revenue growth is below the three-period range of 38.6%–126.6%. This release does not support a view on whether HY26 represents a step-down from that growth trajectory or a temporary slowdown coinciding with the disclosed exceptionals; both interpretations remain open until second-half data lands.
Open questions
Open questions from HY26
- What specifically were the ~NZ$0.6m of exceptional first-half expenses, and on what basis are they classified as non-recurring?
- Why did equity grow only 5.4% while total assets grew 47.2%, and how is the additional book funded?
- Why was the effective tax rate 31.4%, above the historical mean of 28.1%, and is this expected to persist?
- How should investors read operating cash flow given that loan book and deposit movements run through it?
- What operating leverage does management expect as the enlarged balance sheet seasons, and what is the path back toward historical ROE of around 7–9%?
This briefing cannot assess the underlying earnings trajectory excluding the disclosed exceptionals because no line-by-line reconciliation or normalised earnings figure was provided.
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
General Capital Annual Report 2026
FY26 / financial reportGeneral Capital Releases 2026 Annual Report
FY26 / results releasePrior comparable period
General Capital Annual Report 2025
FY25 / financial reportGeneral Capital Releases 2025 Annual Report
FY25 / results announcementInterim context
Directors Report for Half Year Ended 30 September 2025
HY26 / financial reportGeneral Capital Results Announcement
HY26 / results announcementGeneral Capital Results Announcement
HY26 / results releasePeer context
Other covered Financials 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 22 June 2026
Assets grow 30% to $283.7m while operating cash flow swings to -$24.6m
Deposit-funded loan growth pushed assets above historical norms even as tax pressure left NPAT down 3.6% despite 2.6% PBT growth.
Read briefing
HY26 · Released 21 November 2025
PBT fell 31.8% on 19% revenue growth as costs and book outpaced earnings
Around NZ$0.6m of exceptional first-half costs pushed ROE to 3.4% from 5.5% even as total assets grew 47.2% to NZ$275.8m.
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FY25 · Released 26 May 2025
Assets up 33.6% on funded growth, but ROE direction weakened
Balance-sheet expansion outpaced earnings, and an in-year acquisition broadens segment mix and limits clean year-on-year comparison.
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HY25 · Released 22 November 2024
Maiden dividend sets payout at 96.5% of NPAT as revenue growth slows to 38.7%
Operating cash of NZ$15.3m easily funds the inaugural distribution, but revenue growth has slowed sharply from the company's recent baseline.
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FY24 · Released 27 May 2024
NPAT rose 17% but PBT only 7% as Finance segment profit fell
A lower tax rate and non-recurring prior-year items flattered headline growth while the dominant Finance segment's result declined.
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HY24 · Released 28 November 2023
Revenue up 29.7% but Finance segment result fell 16% year-on-year
PBT grew just 1.6% and NPAT growth of 15.8% relied on a lower tax charge as the dominant Finance segment's profitability contracted.
Read briefing
Get notified when GEN publishes
Get the next General Capital result briefing and five-year history updates by email.