Market cap
$142.2m
End-of-day close multiplied by current shares on issue.
KMD · NZX
KMD Brands is an NZX-listed consumer / retail apparel company with HY24 - HY26 of published result briefings.
Snapshot
HY26, released 31 March 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $505.4m | ↑ +7.3% |
| EBITDA | $63.3m | ↑ +20.0% |
| NPAT | -$13.9m | ↑ +35.3% |
| Operating cash flow | $25.6m | ↓ -44.0% |
| OCF / EBITDA % | 40.5% | ↓ -46.3pp |
| Net debt | $94m | ↑ +23.3% |
| Net debt / EBITDA | 1.48x | ↑ +2.8% |
| ROE % | -2.0% | ↑ +0.8pp |
| DPS | 0.0c | — |
| PBT | -$14.8m | ↑ +43.7% |
Source: latest published briefing (HY26, released 31 March 2026). Change compares against the prior equivalent period: HY25, released 26 March 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
$142.2m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.05
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
3.86x
Enterprise value compared with recent EBITDA.
P/FCF
1.72x
Market cap compared with recent free cash flow.
P/B
0.21x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
0.0%
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.
Chat
Ask follow-up questions about KMD Brands'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 MONTHS31 March 2026 | FY2512 MONTHS24 September 2025 | HY256 MONTHS26 March 2025 | FY2412 MONTHS25 September 2024 | HY246 MONTHS19 March 2024 | Trend |
|---|---|---|---|---|---|---|
| Revenue | $505.4m | $989m | $470.9m | $979.4m | $468.6m | Chart |
| Revenue growth % | 7.3% | 1.0% | 0.5% | -11.2% | -14.5% | Chart |
| EBITDA | $63.3m | $50.5m | $52.7m | $107.2m | $64.4m | Chart |
| EBITDA margin % | 12.5% | 5.1% | 11.2% | 10.9% | 13.7% | Chart |
| PBT | -$14.8m | -$104.7m | -$26.3m | -$46.7m | -$12.8m | Chart |
| NPAT | -$13.9m | -$95.1m | -$21.5m | -$49.8m | -$10.4m | Chart |
| Operating cash flow | $25.6m | $126.2m | $45.8m | $144.7m | $42.2m | Chart |
| OCF / EBITDA % | 40.5% | 249.6% | 86.8% | 134.9% | 65.5% | Chart |
| FCF pre-lease | $12.5m | $101.6m | $31.7m | $112.1m | $29.6m | Chart |
| DPS | 0.0c | — | 0.0c | — | 0.0c | Chart |
| ROE % | -2.0% | -13.8% | -2.8% | -6.3% | -1.3% | Chart |
| Net debt | $94m | $52.8m | $76.2m | $59.7m | $96.2m | Chart |
| Net debt / EBITDA | 1.48x | 1.04x | 1.44x | 0.56x | 1.49x | Chart |
| Debtor days | 20 | 34 | 23 | 23 | 23 | Chart |
| Inventory days | 99 | 94 | 117 | 99 | 122 | Chart |
| Total assets | $1.4b | $1.4b | $1.5b | $1.4b | $1.5b | Chart |
Reference: annolyse.ai/companies/kmd
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.
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 PBT loss widened 124% to $104.7m on flat revenue as Kathmandu swung to loss
No quantified FY26 target has been supplied alongside the result, so the release cannot be benchmarked against a stated number. What it does establish is a worsening trajectory: HY25 underlying EBITDA was $3.9m and the full-year figure is $17.7m, implying a second half only marginally better despite the seasonal weighting that historically favours 2H earnings.
The release frames the response through a 'Next Level' strategy and outlook section, but until that translates into stabilised gross margin and a positive Kathmandu contribution, the relevant question is whether 2H FY25 was a trough or a new run-rate. The result itself does not resolve that.
Open questions
This briefing cannot assess management's 'Next Level' strategy execution risk or the timing of any recovery in Kathmandu margins, because no quantified FY26 targets or recovery milestones have been supplied.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 31 March 2026
Operating cash fell 44.0% and net debt rose to $94.0m, prompting a fully underwritten equity raise alongside the headline earnings improvement.
FY25 · Released 24 September 2025
Second-half EBITDA turned negative and the dividend was scrapped, signalling deeper operating pressure than headline 1.0% sales growth suggests.
HY25 · Released 26 March 2025
Reported EBITDA fell 18.1% and the loss roughly doubled to $21.5m as Kathmandu's loss widened, while inventory release drove a $20m debt reduction.
FY24 · Released 25 September 2024
Operating cash held at $144.7m, but the apparent cash-conversion uplift reflects EBITDA collapse rather than improved working-capital quality.
HY24 · Released 19 March 2024
Kathmandu swung to a segment loss and group leverage rose to 1.49x EBITDA, even as inventory release lifted operating cash flow.
Get the next KMD Brands result briefing and five-year history updates by email.