HY26 · Released 24 February 2026
PGG Wrightson HY26: earnings grew, cash burn worsened
Revenue and EBITDA improved, but a larger first-half cash outflow and an 80% dividend increase make the capital-allocation read tighter.
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PGW · NZX
PGG Wrightson
AgricultureCovered: HY261 published briefing
Snapshot
Latest metrics
HY26, released 24 February 2026
| Metric | Value |
|---|---|
| Revenue | $619.4m |
| EBITDA | $45.7m |
| NPAT | $17.3m |
| Operating cash flow | -$49.9m |
| OCF / EBITDA % | -109.0% |
| Net debt | $170.7m |
| Net debt / EBITDA | 3.73x |
| ROE % | 18.7% |
| DPS | 4.5c |
| Payout ratio vs NPAT % | 19.7% |
Longitudinal view
Performance over time
Current-period values from each published briefing, with the most recent reporting period shown first.
| Metric | HY2624 February 2026 |
|---|---|
| Revenue | $619.4m |
| Revenue growth % | 8.6% |
| EBITDA | $45.7m |
| EBITDA margin % | 7.4% |
| PBT | $24.2m |
| PBT growth % | 11.6% |
| NPAT | $17.3m |
| NPAT growth % | 8.0% |
| Operating cash flow | -$49.9m |
| OCF / EBITDA % | -109.0% |
| FCF pre-lease | -$52.1m |
| DPS | 4.5c |
| Payout ratio vs NPAT % | 19.7% |
| ROE % | 18.7% |
| Net debt | $170.7m |
| Net debt / EBITDA | 3.73x |
| Total assets | $743.6m |
Timeline
Briefing timeline
Reverse chronological, with each entry linking back to the full briefing.
Accountability
Expectations tracker
Once a second briefing exists for this company, this section will compare the previous briefing's expectations and unresolved issues with what actually happened in the next result.
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