Skip to main content
Annolyse
Back to companies

MOV · NZX

MOVE Logistics Group (MOV)

Transport & Infrastructure / Freight and logisticsCovered: FY23 - FY267 published briefings

MOVE Logistics Group is an NZX-listed transport & infrastructure / freight and logistics company. Its latest covered result is FY26, with FY23 - FY26 of source-backed result history on Annolyse.

Sections

Latest result

Latest metrics

FY26, released 25 August 2026

← Swipe to view more
MOV latest metrics
MetricValueChange
Revenue$290.6m↑ +1.5%
EBITDA$0.05m↓ -99.9%
NPAT$0.3m↑ +101.9%
Operating cash flow$32.6m↑ +28.5%
OCF / EBITDA %n/m—
Net debt$10.4m↓ -37.8%
Net debt / EBITDAn/m—
ROE %2.7%Outside range high roe. 2.7%; 3-period range -177% to -9.6%. ROE: 2.7%, above normal range; 3-period mean -107.7%, range -177.0%--9.6%.↑ +2.8pp
DPS0.0c—
Payout ratio vs NPAT %n/m—

Source: latest published briefing (FY26, released 25 August 2026). Change compares against the prior equivalent period: FY25, released 29 August 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, 18 September 2026

Price and market cap

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

Market cap

$23.4m

i

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

77.84x

i

Recent market cap compared with trailing earnings.

EPS

0.00

i

Recent filing-derived earnings per share.

PEG

Not available

i

Not available for this company right now.

EV/EBITDA

703.2x

i

Enterprise value compared with recent EBITDA.

P/FCF

0.74x

i

Market cap compared with recent free cash flow.

P/B

1.98x

i

Market value compared with latest reported equity.

Income and investment-company measures

Yield and investment-company valuation where supported.

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 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.

Loading chart...

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.

Loading chart...

Ask about MOV

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.

Checking account...

Financial history

Performance over time

The latest period is shown first.

← Swipe to view more
MOV metric history
MetricFY2612 MONTHS25 August 2026HY266 MONTHS27 February 2026FY2512 MONTHS29 August 2025HY256 MONTHS28 February 2025FY2412 MONTHS29 August 2024HY246 MONTHS23 February 2024FY2312 MONTHS30 August 2023Trend
Revenue$290.6m$141.4m$286.3m$148.4m$293.9m$158.3m$343.9m
Chart
Revenue growth %1.5%Outside range high revenue growth. 1.5%; 3-period range -14.5% to -0.6%. Revenue growth: 1.5%, above normal range; 3-period mean -5.9%, range -14.5%--0.6%.-4.7%-2.6%-6.2%-14.5%Outside range low revenue growth. -14.5%; 3-period range -2.6% to 1.5%. Revenue growth: -14.5%, below normal range; 3-period mean -0.6%, range -2.6%-1.5%.-5.8%-0.6%
Chart
  • FY24 Revenue growth %: Outside range low revenue growth. -14.5%; 3-period range -2.6% to 1.5%. Revenue growth: -14.5%, below normal range; 3-period mean -0.6%, range -2.6%-1.5%.
  • FY26 Revenue growth %: Outside range high revenue growth. 1.5%; 3-period range -14.5% to -0.6%. Revenue growth: 1.5%, above normal range; 3-period mean -5.9%, range -14.5%--0.6%.
EBITDA$0.05m—$42.1m$18.1m$7.9m$13.2m$0.05m
Chart
EBITDA margin %0.0%Outside range high ebitda margin. 16.4%; 3-period range 2.7% to 14.7%. EBITDA margin: 16.4%, above normal range; 3-period mean 10.4%, range 2.7%-14.7%.—14.7%12.2%2.7%Outside range low ebitda margin. 2.7%; 3-period range 13.8% to 16.4%. EBITDA margin: 2.7%, below normal range; 3-period mean 15.0%, range 13.8%-16.4%.8.4%0.0%
Chart
  • FY24 EBITDA margin %: Outside range low ebitda margin. 2.7%; 3-period range 13.8% to 16.4%. EBITDA margin: 2.7%, below normal range; 3-period mean 15.0%, range 13.8%-16.4%.
  • FY26 EBITDA margin %: Outside range high ebitda margin. 16.4%; 3-period range 2.7% to 14.7%. EBITDA margin: 16.4%, above normal range; 3-period mean 10.4%, range 2.7%-14.7%.
PBT$1.5m—-$14.2m-$8.1m-$45.3m-$14.2m-$7.6m
Chart
NPAT$0.3m-$0.9m-$15.6m-$8.9m-$0.05m-$10.7m-$7.2m
Chart
Operating cash flow$32.6m$17m$25.3m$8.9m$18.7m$10.3m$38.4m
Chart
OCF / EBITDA %n/m—60.2%Outside range low ocf / ebitda cash conversion. 60.2%; 3-period range 68.3% to 236.4%. OCF / EBITDA cash conversion: 60.2%, below normal range; 3-period mean 128.6%, range 68.3%-236.4%.49.4%236.4%Outside range high ocf / ebitda cash conversion. 236.4%; 3-period range 60.2% to 81.2%. OCF / EBITDA cash conversion: 236.4%, above normal range; 3-period mean 69.9%, range 60.2%-81.2%.77.6%n/m
Chart
  • FY24 OCF / EBITDA %: Outside range high ocf / ebitda cash conversion. 236.4%; 3-period range 60.2% to 81.2%. OCF / EBITDA cash conversion: 236.4%, above normal range; 3-period mean 69.9%, range 60.2%-81.2%.
  • FY25 OCF / EBITDA %: Outside range low ocf / ebitda cash conversion. 60.2%; 3-period range 68.3% to 236.4%. OCF / EBITDA cash conversion: 60.2%, below normal range; 3-period mean 128.6%, range 68.3%-236.4%.
FCF pre-lease$31.7m$16.3m$25.1m—$2m$18.2m$35.4m
Chart
FCF post-lease$6.3m———$2m$18.2m$35.4m
Chart
DPS0.0c0.0c0.0c0.0c0.0c0.0c0.0c
Chart
Payout ratio vs NPAT %n/m—n/m————
Chart
Annual payout ratio vs EPS %n/m——————
—
ROE %2.7%Outside range high roe. 2.7%; 3-period range -177% to -9.6%. ROE: 2.7%, above normal range; 3-period mean -107.7%, range -177.0%--9.6%.-12.5%-0.1%-21.5%-0.2%Outside range low roe. -177%; 3-period range -136.6% to 2.7%. ROE: -177.0%, below normal range; 3-period mean -47.8%, range -136.6%-2.7%.-16.6%-9.6%
Chart
  • FY24 ROE %: Outside range low roe. -177%; 3-period range -136.6% to 2.7%. ROE: -177.0%, below normal range; 3-period mean -47.8%, range -136.6%-2.7%.
  • FY26 ROE %: Outside range high roe. 2.7%; 3-period range -177% to -9.6%. ROE: 2.7%, above normal range; 3-period mean -107.7%, range -177.0%--9.6%.
Net debt$10.4m$12.8m$16.7m$18.9m$17m$16.9m$15.6m
Chart
Net debt / EBITDAn/m—0.4x1.05x2.15xOutside range high net debt / ebitda. 2.15x; 3-period range 0.3x to 1.02x. Net debt / EBITDA: 2.15x, above normal range; 3-period mean 0.57x, range 0.30x-1.02x.1.28xn/m
Chart
  • FY24 Net debt / EBITDA: Outside range high net debt / ebitda. 2.15x; 3-period range 0.3x to 1.02x. Net debt / EBITDA: 2.15x, above normal range; 3-period mean 0.57x, range 0.30x-1.02x.
Debtor days515139Outside range low debtor days. 40d; 3-period range 48d to 54d. Debtor days: 39.5 days, below normal range; 3-period mean 50.9 days, range 48.1 days-53.5 days.55485254Outside range high debtor days. 54d; 3-period range 39d to 51d. Debtor days: 53.5 days, above normal range; 3-period mean 46.2 days, range 39.5 days-51.0 days.
Chart
  • FY25 Debtor days: Outside range low debtor days. 40d; 3-period range 48d to 54d. Debtor days: 39.5 days, below normal range; 3-period mean 50.9 days, range 48.1 days-53.5 days.
Inventory days1Outside range high inventory days. 1d; 3-period range 0d to 0d. Inventory days: 0.7 days, above normal range; 3-period mean 0.2 days, range 0.2 days-0.3 days.001000
Chart
  • FY26 Inventory days: Outside range high inventory days. 1d; 3-period range 0d to 0d. Inventory days: 0.7 days, above normal range; 3-period mean 0.2 days, range 0.2 days-0.3 days.
Total assets$208.3m$219.7m$233.8m$264.7m$282m$316.5m$305.2m
Chart

Reference: annolyse.ai/companies/mov

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.

Loading chart...

Revenue growth

Like-period revenue growth where comparable.

Loading chart...
  • FY24 MOV FY: Outside range low revenue growth. -14.5%; 3-period range -2.6% to 1.5%. Revenue growth: -14.5%, below normal range; 3-period mean -0.6%, range -2.6%-1.5%.
  • FY26 MOV FY: Outside range high revenue growth. 1.5%; 3-period range -14.5% to -0.6%. Revenue growth: 1.5%, above normal range; 3-period mean -5.9%, range -14.5%--0.6%.

EBITDA-equivalent

Company-specific earnings measure where disclosed.

Loading chart...

EBITDA margin

EBITDA-equivalent margin where revenue and earnings are source-backed.

Loading chart...
  • FY24 MOV FY: Outside range low ebitda margin. 2.7%; 3-period range 13.8% to 16.4%. EBITDA margin: 2.7%, below normal range; 3-period mean 15.0%, range 13.8%-16.4%.
  • FY26 MOV FY: Outside range high ebitda margin. 16.4%; 3-period range 2.7% to 14.7%. EBITDA margin: 16.4%, above normal range; 3-period mean 10.4%, range 2.7%-14.7%.

NPAT

Statutory profit after tax.

Loading chart...

Operating cash flow

Cash generated from operations.

Loading chart...

More financial metrics

Additional filing-backed metrics for this company. Each point links to the relevant published briefing.

OCF / EBITDA

Cash conversion against earnings.

Loading chart...
  • FY24 MOV FY: Outside range high ocf / ebitda cash conversion. 236.4%; 3-period range 60.2% to 81.2%. OCF / EBITDA cash conversion: 236.4%, above normal range; 3-period mean 69.9%, range 60.2%-81.2%.
  • FY25 MOV FY: Outside range low ocf / ebitda cash conversion. 60.2%; 3-period range 68.3% to 236.4%. OCF / EBITDA cash conversion: 60.2%, below normal range; 3-period mean 128.6%, range 68.3%-236.4%.

FCF pre-lease

Operating cash flow less capex before leases.

Loading chart...

FCF post-lease

Free cash flow after lease payments where available.

Loading chart...

ROE

Return on equity.

Loading chart...
  • FY24 MOV FY: Outside range low roe. -177%; 3-period range -136.6% to 2.7%. ROE: -177.0%, below normal range; 3-period mean -47.8%, range -136.6%-2.7%.
  • FY26 MOV FY: Outside range high roe. 2.7%; 3-period range -177% to -9.6%. ROE: 2.7%, above normal range; 3-period mean -107.7%, range -177.0%--9.6%.

Net debt

Borrowings less cash; negative values indicate net cash.

Loading chart...

Net debt / EBITDA

Leverage ratio, suppressed where earnings are not meaningful.

Loading chart...
  • FY24 MOV FY: Outside range high net debt / ebitda. 2.15x; 3-period range 0.3x to 1.02x. Net debt / EBITDA: 2.15x, above normal range; 3-period mean 0.57x, range 0.30x-1.02x.

DPS

Dividend per share declared for the period.

Loading chart...

Debtor days

Receivables days where the working-capital inputs are source-backed.

Loading chart...
  • FY23 MOV FY: Outside range high debtor days. 54d; 3-period range 39d to 51d. Debtor days: 53.5 days, above normal range; 3-period mean 46.2 days, range 39.5 days-51.0 days.
  • FY25 MOV FY: Outside range low debtor days. 40d; 3-period range 48d to 54d. Debtor days: 39.5 days, below normal range; 3-period mean 50.9 days, range 48.1 days-53.5 days.

Inventory days

Inventory days where the working-capital inputs are source-backed.

Loading chart...
  • FY26 MOV FY: Outside range high inventory days. 1d; 3-period range 0d to 0d. Inventory days: 0.7 days, above normal range; 3-period mean 0.2 days, range 0.2 days-0.3 days.

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.

Loading chart...
  • FY24 MOV: Outside range low operating working-capital movement. $-9.7m; 3-period range $-7.8m to $8.4m. Operating working-capital movement: NZ$-9.7m, below normal range; 1/3 prior periods had builds averaging NZ$8.4m, and 2 had releases averaging NZ$-7.0m.
  • FY26 MOV: Outside range high operating working-capital movement. $8.4m; 3-period range $-9.7m to $-6.2m. Operating working-capital movement: NZ$8.4m, above normal range; 0/3 prior periods had builds, and 3 had releases averaging NZ$-7.9m.

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 Warehousing revenue halved but Freight & Fuel turned profitable, lifting PBT 97%

No formal earnings guidance was provided. Management's stated ambition of a profitable full-year normalised result aligns with a second-quarter turn to profit within the half. The FY25 shape shows HY25 contributed 43% of full-year EBITDA while 2H25 delivered the implied NZD 24.0m, suggesting the second half is historically the stronger earnings period. If that pattern holds in FY26, the current half's near-breakeven PBT position leaves the full-year outcome heavily dependent on second-half execution — a meaningful concentration of risk.

Market conditions are described as continuing to be weak. The release does not quantify forward contract cover or pipeline, which makes it difficult to judge whether 2H26 demand conditions will support the implied second-half earnings loading.

Open questions

Open questions from HY26

  • What caused the Warehousing segment's revenue to fall from NZD 56.7m to NZD 21.6m — were contracts lost, not renewed, or deliberately exited, and what is the expected steady-state size of this division?
  • Will Freight & Fuel's revenue expansion, which drove the majority of the earnings recovery, prove durable, or does it reflect temporary contract wins or pass-through fuel pricing?
  • How much of the NZD 17.0m operating cash flow improvement reflects sustainable earnings conversion versus one-time working-capital release that will not repeat in 2H26?
  • Is the near-zero capex position a deliberate strategic choice, or does the group's thin equity base constrain its ability to invest in network and fleet capacity?
  • Can management quantify the level of forward contract cover or contracted revenue underpinning their full-year normalised profitability target?

This briefing cannot assess whether the Warehousing decline is structural or recoverable, nor the reliability of the Freight & Fuel revenue base, without contract-level or pipeline disclosure not provided in this release.

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

MOVE - FY26 Annual Report

FY26 / financial report

MOVE - FY26 NZX Financial Results Announcement

FY26 / results announcement

MOVE - FY26 Results Announcement

FY26 / results release

MOVE - FY26 Results Presentation

FY26 / results presentation

Prior comparable period

MOVE - FY25 Annual Report

FY25 / financial report

MOVE - FY25 NZX Financial Results Announcement

FY25 / results announcement

MOVE - FY25 Results Announcement

FY25 / results release

MOVE - FY25 Results Presentation

FY25 / results presentation

Interim context

MOVE - 1H26 Results Presentation

HY26 / results presentation

MOVE- 1H26 Interim Financial Statements

HY26 / financial report

MOVE- 1H26 Interim Results Announcement

HY26 / results release

MOVE - 1H26 Interim NZX Financial Results Announcement

HY26 / results announcement

Release context

MOVE FY25 Results and Investor Briefing 29 August 2025

FY25 / commentary

ASM Presentation

HY26 / commentary

REL - MOVE provides 1Q26 trading update

HY26 / commentary

Peer context

Freight and logistics comparison set

These companies share the same curated sub-sector label. Their reporting definitions can still differ, so compare the underlying measures before ranking them.

MFT · FY26

Mainfreight

8 published result briefings

FRW · FY26

Freightways Group

4 published result briefings

Compare MOV, MFT, FRW →Transport & Infrastructure result archive

Archive

Briefing archive

The full chronological archive contains every published result briefing.

FY26 · Released 25 August 2026

MOVE returns to profit as receivables rise

PBT and NPAT swung from losses to a thin profit, debtor days rose to 51, and net debt fell 37.8%.

Read briefing

HY26 · Released 27 February 2026

Warehousing revenue halved but Freight & Fuel turned profitable, lifting PBT 97%

A radical segment mix shift masked by a 4.7% revenue decline leaves the recovery path dependent on Warehousing stabilising.

Read briefing

FY25 · Released 29 August 2025

EBITDA up 433% but MOV stays loss-making on a 2.6% revenue decline

Gross margin expansion drove a strong EBITDA recovery, but net losses persist and cash conversion fell sharply as EBITDA normalised upward.

Read briefing

HY25 · Released 28 February 2025

EBITDA up 37% but Contract Logistics collapse masks ongoing structural losses

MOVE's EBITDA recovery to NZ$18.1m rests on cost cuts rather than volume, while Contract Logistics revenue fell NZ$20.8m and the segment swung to a

Read briefing

FY24 · Released 29 August 2024

MOVE FY24: second-half EBITDA turned negative as PBT loss widened to $45.3m

Revenue fell 14.5% and reported EBITDA collapsed 83% to $7.9m, with equity down 64% to $27.2m and gross borrowings now all current.

Read briefing

HY24 · Released 23 February 2024

EBITDA fell 39.7% on a 5.8% revenue decline as Freight reset bit

Free cash flow rose to $18.2m only because capex collapsed 88.9% to $1.4m, while cash conversion dropped 20 percentage points to 77.6%.

Read briefing
Open all 7 result briefings

Related insights

Compare this company

The latest MOV metrics also appear in these cross-company comparisons.

Insight

Cash conversion quality

This result converted 68.3% of EBITDA to operating cash flow, +8.1pp versus the prior comparable period.

Open insight

Insight

ROE and capital efficiency

ROE was 2.7%, +139.3pp versus the prior comparable period.

Open insight

Insight

Dividend coverage and payout pressure

Dividend payout versus NPAT is 0.0%.

Open insight

Insight

Leverage and balance-sheet risk

Net debt / EBITDA is 1.02x for this result.

Open insight

Get notified when MOV publishes

Get the next MOVE Logistics Group result briefing and five-year history updates by email.