Market cap
$543.2m
End-of-day close multiplied by current shares on issue.
OCA · NZX
Oceania Healthcare is an NZX-listed healthcare / retirement living company with HY23 - HY26 of published result briefings.
Snapshot
HY26, released 21 November 2025
| Metric | Value | Change |
|---|---|---|
| Revenue | $131.6m | ↓ -0.7% |
| EBITDA | $41.5m | ↑ +7.4% |
| NPAT | $4.9m | ↑ +128.7% |
| Operating cash flow | $79m | ↑ +12.3% |
| OCF / EBITDA % | 190.4%Outside range high ocf / ebitda cash conversion. 190.3%; 3-period range 81.2% to 182%. OCF / EBITDA cash conversion: 190.3%, above normal range; 3-period mean 130.3%, range 81.2%-182.0%. | ↑ +8.4pp |
| Net debt | $608.9m | ↓ -3.2% |
| Net debt / EBITDA | 14.67x | ↓ -9.8% |
| ROE % | 0.4% | ↑ +2.0pp |
| PBT | $1m | ↑ +105.1% |
| FCF pre-lease | -$8.4m | ↓ -120.4% |
Source: latest published briefing (HY26, released 21 November 2025). Change compares against the prior equivalent period: HY25, released 22 November 2024.
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
$543.2m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
10.37x
Recent market cap compared with trailing earnings.
EPS
0.07
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
12.97x
Enterprise value compared with recent EBITDA.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
0.48x
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.
Indexed lines compare direction from the first positive comparable filing point. The axis is an index, not dollars or cents.
Chat
Ask follow-up questions about Oceania Healthcare'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 MONTHS21 November 2025 | FY2512 MONTHS22 May 2025 | HY256 MONTHS22 November 2024 | FY2412 MONTHS24 May 2024 | HY246 MONTHS22 November 2023 | FY2312 MONTHS24 May 2023 | HY236 MONTHS7 November 2022 | Trend |
|---|---|---|---|---|---|---|---|---|
| Revenue | $131.6m | $260.6m | $132.6m | $265.5m | $131.6m | $247.2m | $122.1m | Chart |
| Revenue growth % | -0.7% | -1.8% | 0.8% | 7.4% | -24.0%Outside range low revenue growth. -24%; 3-period range -0.7% to 7.2%. Revenue growth: -24.0%, below normal range; 3-period mean 2.4%, range -0.7%-7.2%. | 6.9% | 7.2%Outside range high revenue growth. 7.2%; 3-period range -24% to 0.8%. Revenue growth: 7.2%, above normal range; 3-period mean -8.0%, range -24.0%-0.8%. | Chart
|
| EBITDA | $41.5m | $86m | $38.6m | $82.6m | $37.6m | $80m | — | Chart |
| EBITDA margin % | 31.5% | 33.0% | 29.1% | 31.1% | 28.6%Outside range low ebitda margin. 28.6%; 3-period range 29.1% to 31.7%. EBITDA margin: 28.6%, below normal range; 3-period mean 30.8%, range 29.1%-31.7%. | 32.4% | — | Chart
|
| PBT | $1m | $25.9m | -$19.5m | $28.4m | $32.4m | $12m | $8.6m | Chart |
| PBT growth % | — | 0.0% | — | — | — | -78.7% | -74.3% | Chart |
| NPAT | $4.9m | $30.4m | -$17.1m | $31.5m | $35.2m | $15.4m | $11.2m | Chart |
| NPAT growth % | — | -3.5% | — | 104.5% | — | -74.8% | -69.6% | Chart |
| Operating cash flow | $79m | $110.3m | $70.4m | $85.4m | $48m | $70.2m | $31.4m | Chart |
| OCF / EBITDA % | 190.4%Outside range high ocf / ebitda cash conversion. 190.3%; 3-period range 81.2% to 182%. OCF / EBITDA cash conversion: 190.3%, above normal range; 3-period mean 130.3%, range 81.2%-182.0%. | 128.3% | 182.0% | 103.3% | 127.6% | 87.7% | — | Chart
|
| FCF pre-lease | -$8.4m | -$22.1m | $41.2m | $33.4m | $24.2m | $15m | -$4.5m | Chart |
| FCF post-lease | -$8.4m | — | — | — | — | — | — | — |
| DPS | — | 0.0c | — | — | 0.0c | — | 1.9c | Chart |
| Payout ratio vs NPAT % | — | 0.0% | — | — | — | — | 118.8% | Chart |
| ROE % | 0.4% | 2.8% | -1.6% | 3.1% | 3.5% | 1.6% | 2.3% | Chart |
| Net debt | $608.9m | $620.2m | $628.9m | $633m | $611.1m | $550.6m | $497.6m | Chart |
| Net debt / EBITDA | 14.67x | 7.21x | 16.27xOutside range high net debt / ebitda. 16.27x; 3-period range 12.9x to 16.2x. Net debt / EBITDA: 16.27x, above normal range; 3-period mean 14.60x, range 12.90x-16.20x. | 7.66x | 16.24x | 6.88x | — | Chart
|
| Debtor days | 29 | — | 28Outside range low debtor days. 28d; 3-period range 29d to 169d. Debtor days: 28.0 days, below normal range; 3-period mean 108.9 days, range 28.6 days-168.5 days. | 172 | 169Outside range high debtor days. 169d; 3-period range 28d to 130d. Debtor days: 168.5 days, above normal range; 3-period mean 62.1 days, range 28.0 days-129.6 days. | 161 | 130 | Chart
|
| Total assets | $3b | $2.9b | $2.8b | $2.8b | $2.7b | $2.5b | $2.5b | Chart |
Reference: annolyse.ai/companies/oca
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.
Free cash flow after lease payments where available.
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.
Dividend payout against statutory NPAT.
Receivables 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 Capex jumped 354% to $132.4m, pushing FCF to -$22.1m
No FY26 targets or forward-work disclosures are supplied. The half-year shape is unusual: HY25 reported a $17.1m NPAT loss, which means essentially all of the FY $30.4m profit was earned in H2 (an implied $47.5m). Revenue split roughly 51%/49% H1/H2 and EBITDA 45%/55%, so the H2 step-up is real at the earnings line but is not large at the revenue line.
The release does not explain when the elevated capex translates to EBITDA. Without that bridge, the investor cannot judge whether FY26 EBITDA growth will be sufficient to bring leverage and free cash flow back into a more conventional range for the sector.
Open questions
This briefing cannot assess the unit economics of the development pipeline or the settlement timing that would determine when the FY25 capex starts generating returns.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 21 November 2025
EBITDA rose 7.4% on flat revenue and PBT turned positive at $1.0m, but a doubled investment cycle kept free cash flow at -$8.4m.
FY25 · Released 22 May 2025
EBITDA rose 4.1% and a tax credit held NPAT, but a major capex step-up consumed operating cash and net debt sits at 7.2x EBITDA.
HY25 · Released 22 November 2024
Operating cash flow surged on a NZ$101m receivables collection while items below EBITDA pushed PBT down 160.3% to a NZ$19.5m loss.
FY24 · Released 24 May 2024
EBITDA rose just 3.2% on 7.4% revenue growth, while a -10.9% effective tax rate drove NPAT up 104.5% and development capex was paused.
HY24 · Released 22 November 2023
Underlying EBITDA held near NZ$37.6m, but receivables expanded NZ$110.5m and debtor days hit 168.5 against a historical mean of 22.7 days.
FY23 · Released 24 May 2023
Revenue grew 6.9% and care swung to profit, but borrowings rose $177.9m and a $86.9m receivables build absorbed underlying cash generation.
HY23 · Released 7 November 2022
Realised sales gains rose 12%, but cash conversion dropped to 81.2% and the 1.9c dividend exceeds NPAT cover.
Get the next Oceania Healthcare result briefing and five-year history updates by email.