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GTK · NZX

Gentrack Group Limited 6 months to 31 March 2026 (GTK)

Technology / Utilities software•Covered: FY24 - HY26•4 published briefings

Gentrack Group Limited 6 months to 31 March 2026 is an NZX-listed technology / utilities software company with FY24 - HY26 of published result briefings.

Latest briefing

HY26 · Released 18 May 2026

PBT fell 86.2% on a 1.7% revenue decline as acquisition costs hit Utilities

A sharp drop in Utilities segment profit drove PBT down 86.2%, masking recurring revenue mix improvement and inverting operating cash flow

Market data

As at close
Close price
NZD 3.74
Market cap
$420.6m
Dividend yield
0%

as at close, 16 June 2026. Source: yfinance.

Sections⌄
  1. Snapshot
  2. Valuation
  3. Chat
  4. Longitudinal View
  5. Follow-through
  6. Archive
  7. Related Insights
  1. Snapshot
  2. Valuation
  3. Chat
  4. Longitudinal View
  5. Follow-through
  6. Archive
  7. Related Insights

Snapshot

Latest metrics

HY26, released 18 May 2026

← Swipe to view more
GTK latest metrics
MetricValueChange
Revenue$110.1m↓ -1.7%
EBITDA$0.01m↓ -38.5%
NPAT$0m—
Operating cash flow-$8.7m↓ -403.2%
OCF / EBITDA %n/m↓ -130774.0pp
ROE %0.0%—
DPS0.0c—
PBT$0m↓ -88.9%
FCF pre-lease-$9.8m↓ -648.9%
Debtor days57↑ +24.6%

Source: latest published briefing (HY26, released 18 May 2026). Change compares against the prior equivalent period: HY25, released 19 May 2025.

Valuation

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.

Prices as at close, 16 June 2026

Price and market cap

The latest close and share count context for the market price.

Market cap

$420.6m

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End-of-day close multiplied by current shares on issue.

Profitability multiples

How the market price compares with recent earnings and cash-flow inputs.

P/E

20.12x

i

Recent market cap compared with trailing earnings.

EPS

0.19

i

Recent filing-derived earnings per share.

PEG

Not available

i

Not available for this company right now.

EV/EBITDA

Not available

i

Not available for this company right now.

P/FCF

48.43x

i

Market cap compared with recent free cash flow.

P/B

1,709.74x

i

Market value compared with latest reported equity.

Income and fund shape

Yield and fund-style valuation where the company shape supports it.

Dividend yield

0.0%

i

Trailing dividends compared with the latest close.

Total return

Not available

i

Available once dividend and adjustment data are verified.

Price history

Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.

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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Price vs earnings

Indexed lines compare direction from the first positive comparable filing point. The axis is an index, not dollars or cents.

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Chat

Ask about GTK

Ask follow-up questions about Gentrack Group Limited 6 months to 31 March 2026's latest result and company history.

Informational only. No buy, sell, hold, price-target, or personal financial advice.

Ask about GTK

Informational only. No buy, sell, hold, price-target, or personal financial advice.

Sign in to chat

Sign in to ask company questions.

What changed in the latest result?What is unusual in the historical context?How has cash conversion changed over time?Compare this company with CNU.

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Longitudinal view

Performance over time

The latest period is shown first.

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GTK metric history
MetricHY266 MONTHS18 May 2026FY2512 MONTHS24 November 2025HY256 MONTHS19 May 2025FY2412 MONTHS26 November 2024Trend
Revenue$110.1m$230.2m$112m$213.2m
Chart
Revenue growth %-1.7%8.0%9.8%25.5%
Chart
EBITDA$0.01m$27.8m$0.01m$23.6m
Chart
EBITDA margin %0.0%12.1%0.0%11.1%
Chart
PBT$0m$20.2m$0.01m$14.6m
Chart
PBT growth %-86.2%38.4%10.4%-2.7%
Chart
NPAT$0m$20.9m$0m$9.5m
Chart
NPAT growth %—120.0%—-5.0%
Chart
Operating cash flow-$8.7m$22m$2.9m$34.4m
Chart
OCF / EBITDA %n/m79.2%n/m145.8%
Chart
FCF pre-lease-$9.8m$20.3m$1.8m$33.3m
Chart
DPS0.0c———
—
ROE %0.0%8.6%0.0%4.6%
Chart
Net debt—-$84.8m-$70.7m-$66.7m
Chart
Net debt / EBITDA—-3.05x-5,441.08x-2.83x
Chart
Debtor days57454648
Chart
Inventory days1111
Chart
Total assets$315.6m$324.8m$0.3m$287.7m
Chart

Reference: annolyse.ai/companies/gtk

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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Full chartable metric set

Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.

OCF / EBITDA

Cash conversion against earnings.

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FCF pre-lease

Operating cash flow less capex before leases.

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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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DPS

Dividend per share declared for the period.

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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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Operating working-capital movement

Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.

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The setup & the reality

FY25 → HY26 Follow-through

The latest result is checked against what the prior briefing said to watch.

Current result now available

HY26 · Released 18 May 2026

PBT fell 86.2% on a 1.7% revenue decline as acquisition costs hit Utilities

A sharp drop in Utilities segment profit drove PBT down 86.2%, masking recurring revenue mix improvement and inverting operating cash flow

Read latest briefing→

Historical setup

What FY25 said to watch

From PBT rose 38.4% but operating cash fell 36% as conversion halved

No forward revenue, EBITDA or margin targets are disclosed in the supplied release. The release notes results are "in line with guidance" and that recurring revenue grew 13%, but a specific quantitative target is not provided, so the briefing cannot test the result against a stated bar.

The HY25 split shows the year was second-half weighted: H1 contributed 48.7% of revenue, 46.6% of EBITDA and only 34.4% of NPAT. That implied H2 NPAT of $13.7m versus H1 of $7.2m is partly mechanical given the year's low effective tax rate, so the H2 acceleration in reported earnings should not be read as evidence of accelerating underlying profitability without further disclosure on the tax outcome.

Open questions

Open questions from FY25

  • What drove the effective tax rate down to 3.1% from 34.7%, and is any portion of that benefit recurring into FY26?
  • Why did operating working capital fall $17.7m, and which line items (contract liabilities, deferred revenue, receivables timing) are responsible?
  • Is 79.2% OCF/EBITDA the correct go-forward cash conversion benchmark for the business, or was FY25 also affected by one-off items?
  • Why was no dividend declared given $84.8m of cash, zero debt, and 97.1% FCF/NPAT conversion, and what is the intended use of the cash balance?
  • What is the Airport segment's profitability profile, given Utility's 10.5% disclosed gross margin is the only segment margin available?

This briefing cannot assess the durability of the FY25 tax outcome or management's forward EBITDA, margin, or capital-return intentions because no quantitative targets, tax commentary, or dividend policy statement were provided in the release excerpts.

Archive

Briefing archive

Every published Annolyse briefing for this company appears here in reverse chronological order.

HY26 · Released 18 May 2026

PBT fell 86.2% on a 1.7% revenue decline as acquisition costs hit Utilities

A sharp drop in Utilities segment profit drove PBT down 86.2%, masking recurring revenue mix improvement and inverting operating cash flow

Read briefing→

FY25 · Released 24 November 2025

PBT rose 38.4% but operating cash fell 36% as conversion halved

A 3.1% effective tax rate flattered NPAT to a 120% gain while OCF/EBITDA fell to 79.2% from 145.7% on working-capital normalisation.

Read briefing→

HY25 · Released 19 May 2025

Headline NPAT +34.7% masks PBT +10.4% as cash conversion fell to 22.1%

A lower 22.2% tax rate flatters NPAT while EBITDA grew 5.1% versus 9.8% revenue, and operating cash conversion fell from 33.0% to 22.1%.

Read briefing→

FY24 · Released 26 November 2024

Revenue grew 25.5% but EBITDA only 1.7% as Utilities margin compressed

Strong top-line growth was offset by Utilities segment margin compression from 13.2% to 10.0%, leaving operating earnings roughly flat.

Read briefing→

Related insights

Compare this company

The latest GTK metrics also appear in these cross-company views.

Insight

Earnings quality and statutory distortions

PBT and NPAT growth diverged by 57.3pp, with a distortion flag in the result.

Open insight→

Insight

Revenue growth context

Revenue growth was -1.7% for this reporting period.

Open insight→

Insight

Working-capital pressure

Inventory days were 1 days, 0 days versus the prior comparable period.

Open insight→

Get notified when GTK publishes

Get the next Gentrack Group Limited 6 months to 31 March 2026 result briefing and five-year history updates by email.