HGH · NZX

Heartland Group Holdings (HGH)

Name: Heartland Group Holdings (HGH) financial result history
Creator: Annolyse

Financials / Banking and financeCovered: HY22 - HY269 published briefings

Heartland Group Holdings is an NZX-listed financials / banking and finance company. Its latest covered result is HY26, with HY22 - HY26 of source-backed result history on Annolyse.

Sections

Latest metrics

HY26, released 26 February 2026

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HGH latest metrics
Metric	Value	Change
Revenue	$172.3m	↑ +10.9%
Operating profit	$77.9m	↑ +36.1%
NPAT	$48.8m	n/m
Operating cash flow	$299.5m	↑ +26.6%
OCF / Operating profit %	384.7%	↓ -28.8pp
ROE %	7.8%Outside range high roe. 7.8%; 4-period range 0.3% to 6.1%. ROE: 7.8%, above normal range; 4-period mean 3.7%, range 0.3%-6.1%.	↑ +7.5pp
DPS	3.5c	↑ +75.0%
Payout ratio vs NPAT %	67.3%Outside range low payout ratio versus npat. 67.3%; 4-period range 68.1% to 500%. Payout ratio versus NPAT: 67.3%, below normal range; 4-period mean 179.7%, range 68.1%-500.0%.	↓ -432.7pp
PBT	$68.1m	n/m
Total assets	$8.8b	↑ +0.6%

Source: latest published briefing (HY26, released 26 February 2026). Change compares against the prior equivalent period: HY25, released 27 February 2025.

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.

Market cap

$1.2b

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

14.35x

Recent market cap compared with trailing earnings.

EPS

0.09

Recent filing-derived earnings per share.

PEG

0.01x

P/E compared with recent earnings growth.

EV/EBITDA

Not available

Not meaningful for this company type.

P/FCF

Not available

Not available for this company right now.

P/B

0.94x

Market value compared with latest reported equity.

Income and investment-company measures

Yield and investment-company valuation where supported.

Dividend yield

5.5%

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 follow-up questions about Heartland Group Holdings's latest result and company history.

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

Ask about HGH

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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HGH metric history
Metric	HY266 MONTHS26 February 2026	FY2512 MONTHS21 August 2025	HY256 MONTHS27 February 2025	FY2412 MONTHS29 August 2024	HY246 MONTHS27 February 2024	FY2312 MONTHS29 August 2023	HY236 MONTHS28 February 2023	FY2212 MONTHS23 August 2022	HY226 MONTHS22 February 2022	Trend
Revenue	$172.3m	$322.9m	$155.3m	$290.4m	$141.2m	$289.8m	$144.2m	$280.6m	$130.8m	Chart
Revenue growth %	11.1%Outside range high revenue growth. 11.1%; 4-period range -2% to 10.2%. Revenue growth: 11.1%, above normal range; 4-period mean 6.8%, range -2.0%-10.2%.	11.1%	9.9%	0.2%Outside range low revenue growth. 0.2%; 3-period range 3.3% to 11.7%. Revenue growth: 0.2%, below normal range; 3-period mean 8.7%, range 3.3%-11.7%.	-2.0%Unprecedented low revenue growth. -2%; 4-period range 8.9% to 11.1%. Revenue growth: -2.0%, unprecedented low; 4-period mean 10.0%, range 8.9%-11.1%.	3.3%	10.2%	11.7%Outside range high revenue growth. 11.7%; 3-period range 0.2% to 11.1%. Revenue growth: 11.7%, above normal range; 3-period mean 4.9%, range 0.2%-11.1%.	8.9%	Chart HY24 Revenue growth %: Unprecedented low revenue growth. -2%; 4-period range 8.9% to 11.1%. Revenue growth: -2.0%, unprecedented low; 4-period mean 10.0%, range 8.9%-11.1%. FY24 Revenue growth %: Outside range low revenue growth. 0.2%; 3-period range 3.3% to 11.7%. Revenue growth: 0.2%, below normal range; 3-period mean 8.7%, range 3.3%-11.7%. HY26 Revenue growth %: Outside range high revenue growth. 11.1%; 4-period range -2% to 10.2%. Revenue growth: 11.1%, above normal range; 4-period mean 6.8%, range -2.0%-10.2%.
Operating profit	$77.9m	—	$57.2m	$151.3m	—	$161.7m	$80.7m	$163.9m	$73.5m	Chart
Operating profit margin %	45.2%	—	36.8%	52.1%	—	55.8%	56.0%	58.4%	56.2%	Chart
PBT	$68.1m	$57.2m	$5.3m	$104.5m	$52.6m	$134m	$69m	$137m	$64.9m	Chart
PBT growth %	—	-45.3%Outside range low pbt growth. -45.3%; 3-period range -22% to 15.6%. PBT growth: -45.3%, below normal range; 3-period mean -2.9%, range -22.0%-15.6%.	-89.9%Outside range low pbt growth. -89.9%; 3-period range -23.8% to 8.9%. PBT growth: -89.9%, below normal range; 3-period mean -2.9%, range -23.8%-8.9%.	-22.0%	-23.8%	-2.2%	6.3%	15.6%Outside range high pbt growth. 15.6%; 3-period range -45.3% to -2.2%. PBT growth: 15.6%, above normal range; 3-period mean -23.2%, range -45.3%--2.2%.	8.9%Outside range high pbt growth. 8.9%; 3-period range -89.9% to 6.3%. PBT growth: 8.9%, above normal range; 3-period mean -35.8%, range -89.9%-6.3%.	Chart HY25 PBT growth %: Outside range low pbt growth. -89.9%; 3-period range -23.8% to 8.9%. PBT growth: -89.9%, below normal range; 3-period mean -2.9%, range -23.8%-8.9%. FY25 PBT growth %: Outside range low pbt growth. -45.3%; 3-period range -22% to 15.6%. PBT growth: -45.3%, below normal range; 3-period mean -2.9%, range -22.0%-15.6%.
NPAT	$48.8m	$38.8m	$3.6m	$74.5m	$37.6m	$95.9m	$48.7m	$95.1m	$47.5m	Chart
NPAT growth %	n/mUnprecedented high npat growth. n/m; 4-period range -90.4% to 7.7%. NPAT growth: n/m, unprecedented high; 4-period mean -25.7%, range -90.4%-7.7%.	-47.9%Outside range low npat growth. -47.9%; 3-period range -22.3% to 9.3%. NPAT growth: -47.9%, below normal range; 3-period mean -4.1%, range -22.3%-9.3%.	-90.4%Outside range low npat growth. -90.4%; 4-period range n/m. NPAT growth: -90.4%, below normal range; 4-period mean 310.8%, range n/m.	-22.3%	-22.8%	0.8%	2.5%	9.3%Outside range high npat growth. 9.3%; 3-period range -47.9% to 0.8%. NPAT growth: 9.3%, above normal range; 3-period mean -23.1%, range -47.9%-0.8%.	7.7%	Chart HY25 NPAT growth %: Outside range low npat growth. -90.4%; 4-period range n/m. NPAT growth: -90.4%, below normal range; 4-period mean 310.8%, range n/m. FY25 NPAT growth %: Outside range low npat growth. -47.9%; 3-period range -22.3% to 9.3%. NPAT growth: -47.9%, below normal range; 3-period mean -4.1%, range -22.3%-9.3%. HY26 NPAT growth %: Unprecedented high npat growth. n/m; 4-period range -90.4% to 7.7%. NPAT growth: n/m, unprecedented high; 4-period mean -25.7%, range -90.4%-7.7%.
Operating cash flow	$299.5m	$673.2m	$236.6m	$928.4m	-$8.8m	$42.7m	$262.2m	-$262.3m	-$142.3m	Chart
OCF / Operating profit %	384.7%	—	413.5%	613.7%	—	26.4%	324.8%	-160.1%	-193.6%	Chart
FCF pre-lease	—	$668.8m	—	$900.3m	-$25.5m	—	$254.4m	-$272.1m	-$150.9m	Chart
DPS	3.5c	2.0c	2.0c	3.0c	4.0c	6.0c	5.5c	5.5c	5.5c	Chart
Payout ratio vs NPAT %	67.3%Outside range low payout ratio versus npat. 67.3%; 4-period range 68.1% to 500%. Payout ratio versus NPAT: 67.3%, below normal range; 4-period mean 179.7%, range 68.1%-500.0%.	96.6%Outside range high payout ratio versus npat. 96.6%; 3-period range 68.2% to 82.4%. Payout ratio versus NPAT: 96.6%, above normal range; 3-period mean 73.9%, range 68.2%-82.4%.	500.0%Unprecedented high payout ratio versus npat. 500%; 4-period range 67.3% to 75.5%. Payout ratio versus NPAT: 500.0%, unprecedented high; 4-period mean 71.6%, range 67.3%-75.5%.	71.1%	75.5%	82.4%	75.3%	68.2%Outside range low payout ratio versus npat. 68.2%; 3-period range 71.1% to 96.6%. Payout ratio versus NPAT: 68.2%, below normal range; 3-period mean 83.4%, range 71.1%-96.6%.	68.1%	Chart HY25 Payout ratio vs NPAT %: Unprecedented high payout ratio versus npat. 500%; 4-period range 67.3% to 75.5%. Payout ratio versus NPAT: 500.0%, unprecedented high; 4-period mean 71.6%, range 67.3%-75.5%. FY25 Payout ratio vs NPAT %: Outside range high payout ratio versus npat. 96.6%; 3-period range 68.2% to 82.4%. Payout ratio versus NPAT: 96.6%, above normal range; 3-period mean 73.9%, range 68.2%-82.4%. HY26 Payout ratio vs NPAT %: Outside range low payout ratio versus npat. 67.3%; 4-period range 68.1% to 500%. Payout ratio versus NPAT: 67.3%, below normal range; 4-period mean 179.7%, range 68.1%-500.0%.
Annual payout ratio vs EPS %	—	96.6%	—	71.1%	—	82.4%	—	68.2%	—	Chart
ROE %	7.8%Outside range high roe. 7.8%; 4-period range 0.3% to 6.1%. ROE: 7.8%, above normal range; 4-period mean 3.7%, range 0.3%-6.1%.	3.2%Outside range low roe. 3.2%; 3-period range 6% to 11.8%. ROE: 3.2%, below normal range; 3-period mean 9.0%, range 6.0%-11.8%.	0.3%Unprecedented low roe. 0.3%; 4-period range 3.7% to 7.8%. ROE: 0.3%, unprecedented low; 4-period mean 5.6%, range 3.7%-7.8%.	6.0%	3.7%	9.3%	4.8%	11.8%Outside range high roe. 11.8%; 3-period range 3.2% to 9.3%. ROE: 11.8%, above normal range; 3-period mean 6.2%, range 3.2%-9.3%.	6.1%	Chart HY25 ROE %: Unprecedented low roe. 0.3%; 4-period range 3.7% to 7.8%. ROE: 0.3%, unprecedented low; 4-period mean 5.6%, range 3.7%-7.8%. FY25 ROE %: Outside range low roe. 3.2%; 3-period range 6% to 11.8%. ROE: 3.2%, below normal range; 3-period mean 9.0%, range 6.0%-11.8%. HY26 ROE %: Outside range high roe. 7.8%; 4-period range 0.3% to 6.1%. ROE: 7.8%, above normal range; 4-period mean 3.7%, range 0.3%-6.1%.
Debtor days	—	—	—	0	—	1	—	n/m	—	Chart
Total assets	$8.8b	$8.6b	$8.8b	$9.3b	$7.9b	$7.7b	$7.4b	$7.1b	$6b	Chart

Reference: annolyse.ai/companies/hgh

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.

FCF pre-lease

Operating cash flow less capex before leases.

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ROE

Return on equity.

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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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The setup & the reality

FY25 → HY26 Follow-through

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

Historical setup

What FY25 said to watch

Previous analysisFY25Result released21 August 2025Annolyse analysis published22 April 2026

From PBT collapsed 45.3% as one-offs and provisions swamped 11.1% revenue growth

No formal ongoing targets were in force beyond the $45m underlying NPAT floor for FY2026, which management has stated guidance on an underlying basis. The result met that floor at $46.9m underlying NPAT. The strongly second-half-weighted statutory earnings profile — with $35.2m of NPAT implied in 2H2025 against just $3.6m in 1H2025 — suggests the business normalised materially following the portfolio reset, which is modestly supportive of the FY2026 guidance basis.

Whether the second-half run-rate is a reliable base depends on whether NZ credit quality has genuinely stabilised and whether the Australian banking segment can continue contributing at or above its FY2025 level. The absence of stated targets beyond the underlying NPAT floor limits the ability to assess how quickly ROE can recover toward a level that justifies the capital raised for the Australian acquisition.

Open questions

Open questions from FY25

What is the current arrears and provision coverage ratio across the NZ lending portfolios that were reset in 1H2025, and have they fully normalised?
How does the Australian banking segment's NIM of 3.01% compare to the prior period, and what is the trajectory given deposit competition and funding costs?
Will the 96.6% statutory payout ratio normalise in FY2026, or does the dividend policy assume a sustained recovery in underlying earnings toward a higher absolute level?
What specific items are expected to bridge underlying NPAT to statutory NPAT in FY2026, and how material are residual acquisition-related costs likely to be?
Is the NTA per share of $0.99 stable, and what is the capital adequacy position of each banking subsidiary relative to regulatory minimums?

This briefing cannot assess the credit quality trajectory of the NZ portfolio, the sustainability of the Australian segment contribution, or the pace of ROE recovery, as segment-level prior comparatives and arrears data were not available in the supplied materials.

Latest result sources

Primary issuer documents used for the HY26 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.

Current period

Heartland 1H2026 – Interim Financial Statements

HY26 / financial report

Heartland 1H2026 – Investor Presentation

HY26 / results presentation

Heartland 1H2026 – Results Announcement

HY26 / results release

Heartland 1H2026 – Results Announcement Template

HY26 / results announcement

Prior comparable period

Heartland 1H2025 - Interim Financial Statements

HY25 / financial report

Heartland 1H2025 - Investor Presentation

HY25 / results presentation

Heartland 1H2025 - Results Announcement

HY25 / results release

Heartland 1H2025 - Results Announcement Template

HY25 / results announcement

Full-year context

Heartland FY2025 - Financial Statements

FY25 / financial report

Heartland FY2025 - Investor Presentation

FY25 / results presentation

Heartland FY2025 - Results Announcement

FY25 / results release

Heartland FY2025 - Results Announcement Template

FY25 / results announcement

Release context

Market update: Increase in Heartland Bank impairment expense

HY25 / commentary

HGH 1Q2026 Trading Update Announcement

HY26 / commentary

Peer 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.

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WBC · HY26

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1 published result briefing

Compare HGH, TWR, GEN, WBC →Financials result archive

Briefing archive

The full chronological archive contains every published result briefing.

HY26 · Released 26 February 2026

NPAT rebuilt to NZ$48.8m as the NZ lending reset rolls off

The n/m headline NPAT lift is recovery from a depressed comparable; underlying NPAT of NZ$46.1m and ROE of 7.8% set the cleaner read.

Read briefing

FY25 · Released 21 August 2025

PBT collapsed 45.3% as one-offs and provisions swamped 11.1% revenue growth

Revenue grew solidly but a surge in impairments, acquisition-related costs, and a portfolio reset crushed statutory earnings, leaving underlying NPAT

Read briefing

HY25 · Released 27 February 2025

NPAT collapsed 90.4% on one-off charges, dividend halved to 2 cents

Reported NPAT of NZ$3.6m versus underlying NZ$10.7m and a 500% NPAT payout ratio leave the dividend reliant on retained earnings, not current profit.

Read briefing

FY24 · Released 29 August 2024

PBT fell 22.0% on near-flat revenue as impairment charges bit hard

Revenue growth of just 0.2% left no buffer when provisions surged, driving a 22.0% PBT decline and compressing ROE to 6.0% from 9.3%.

Read briefing

HY24 · Released 27 February 2024

Heartland revenue fell 2.0%, snapping a ~10% growth pattern; PBT down 23.8%

Net operating income contracted despite 4.2% receivables growth, pointing to material net interest margin compression ahead of Challenger integration.

Read briefing

FY23 · Released 29 August 2023

PBT down 2.2% while ROE fell to 9.3% on NIM compression

Flat headline NPAT reflects a lower effective tax rate, masking underlying margin pressure and weaker returns on the expanded equity base.

Read briefing

Open all 9 result briefings

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Heartland Group Holdings (HGH)

Latest metrics

Valuation

Price and market cap

Profitability multiples

Income and investment-company measures

Price history

Share price

P/E over time

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Performance over time

Filing-only history charts

Revenue

Revenue growth

EBITDA-equivalent

EBITDA margin

NPAT

Operating cash flow

More financial metrics

FCF pre-lease

ROE

DPS

Payout ratio

Debtor days

FY25 → HY26 Follow-through

What FY25 said to watch

Open questions from FY25

Latest result sources

Current period

Prior comparable period

Full-year context

Release context

Other covered Financials companies

Tower

General Capital

Westpac Banking Corporation

Briefing archive

NPAT rebuilt to NZ$48.8m as the NZ lending reset rolls off

PBT collapsed 45.3% as one-offs and provisions swamped 11.1% revenue growth

NPAT collapsed 90.4% on one-off charges, dividend halved to 2 cents

PBT fell 22.0% on near-flat revenue as impairment charges bit hard

Heartland revenue fell 2.0%, snapping a ~10% growth pattern; PBT down 23.8%

PBT down 2.2% while ROE fell to 9.3% on NIM compression

Compare this company

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