Market cap
$157m
End-of-day close multiplied by current shares on issue.
PGW · NZX
PGG Wrightson is an NZX-listed primary industries / rural services company with HY24 - HY26 of published result briefings.
Snapshot
HY26, released 24 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $619.4m | ↑ +8.6% |
| EBITDA | $45.7m | ↑ +10.5% |
| NPAT | $17.3m | ↑ +8.1% |
| Operating cash flow | -$49.9m | ↓ -60.8% |
| OCF / EBITDA % | -109.0% | ↓ -34.0pp |
| Net debt | $170.7m | ↑ +60.0% |
| Net debt / EBITDA | 3.73x | ↑ +44.6% |
| ROE % | 9.2% | ↑ +0.4pp |
| DPS | 4.5c | ↑ +80.0% |
| Payout ratio vs NPAT % | 19.6% | ↑ +7.8pp |
Source: latest published briefing (HY26, released 24 February 2026). Change compares against the prior equivalent period: HY25, released 25 February 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
$157m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
13.08x
Recent market cap compared with trailing earnings.
EPS
0.16
Recent filing-derived earnings per share.
PEG
1.62x
P/E compared with recent earnings growth.
EV/EBITDA
5.42x
Enterprise value compared with recent EBITDA.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
0.84x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
4.1%
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 PGG Wrightson'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 MONTHS24 February 2026 | FY2512 MONTHS12 August 2025 | HY256 MONTHS25 February 2025 | FY2412 MONTHS13 August 2024 | HY246 MONTHS19 January 2024 | Trend |
|---|---|---|---|---|---|---|
| Revenue | $619.4m | $975.3m | $570.3m | $915.9m | $560.9m | Chart |
| Revenue growth % | 8.6% | 6.5% | -16.6% | -6.1% | -4.2% | Chart |
| EBITDA | $45.7m | $56.1m | $41.4m | $44.2m | $36.6m | Chart |
| EBITDA margin % | 7.4% | 5.8% | 7.3% | 4.8% | 6.5% | Chart |
| PBT | $24.2m | $14m | $21.7m | $5.3m | $17.5m | Chart |
| PBT growth % | 11.5% | 164.2% | 56.1% | -77.8% | -40.7% | Chart |
| NPAT | $17.3m | $10.7m | $16m | $3.1m | $12.7m | Chart |
| NPAT growth % | 8.1% | 245.2% | 61.6% | -82.3% | -40.1% | Chart |
| Operating cash flow | -$49.9m | $12.4m | -$31m | $57.7m | -$6.8m | Chart |
| OCF / EBITDA % | -109.0% | 22.1% | -75.0% | 130.7% | -18.7% | Chart |
| FCF pre-lease | -$52.1m | -$5m | -$33.7m | $34.9m | -$13.7m | Chart |
| FCF post-lease | — | — | — | — | -$13.7m | — |
| DPS | 4.5c | 4.0c | 2.5c | — | 0.0c | Chart |
| Payout ratio vs NPAT % | 19.6% | 46.1% | 11.8% | — | — | Chart |
| Annual payout ratio vs EPS % | — | 46.1% | — | — | — | — |
| ROE % | 9.2% | 6.1% | 8.8% | 1.9% | 14.3% | Chart |
| Net debt | $170.7m | $85.6m | $106.7m | $59.2m | $96.9m | Chart |
| Net debt / EBITDA | 3.73x | 1.52x | 2.58x | 1.34x | 2.65x | Chart |
| Debtor days | 105 | 48 | 100 | 44 | 95 | Chart |
| Inventory days | 37 | 37 | 36 | 38 | 85 | Chart |
| Total assets | $743.6m | $529.7m | $659.8m | $477.6m | $642.3m | Chart |
Reference: annolyse.ai/companies/pgw
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.
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 EBITDA up 27% but operating cash fell 79% on working-capital build
Management does not provide an FY26 target in this release, so judgement rests on what FY25 itself shows. Against the FY25 EBITDA guidance reaffirmed at HY25 ($51m), the delivered $56.1m is a modest beat. However, the very strong first-half / loss-making second-half shape means models built on H1 momentum risk overstating run-rate earnings.
The H2 swing is what matters most for setting FY26 expectations: it suggests either seasonal phasing different from FY24 or genuine softness in the back half of the year. Without forward-work disclosure or a stated FY26 target, the release does not support a clean projection of either earnings or cash conversion into next year.
Open questions
This briefing cannot assess whether the H2 weakness reflects seasonal phasing or trend deterioration, because the release does not provide a segmental or category walk between H1 and the implied H2.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 24 February 2026
Operating cash outflow worsened 60.8% and leverage stepped to 3.7x EBITDA, yet the board raised the interim dividend 80% to 4.5cps.
FY25 · Released 12 August 2025
The agri-sector earnings recovery is real at the operating line, but $23.8m of working-capital absorption pushed cash conversion to 22.1% and lifted
HY25 · Released 25 February 2025
Headline 65% EBITDA gain and 16.6% revenue decline both reflect a portfolio change, while receivables ballooned $114m and the dividend was cut 64%.
FY24 · Released 13 August 2024
FY24 met the $43m EBITDA guide but H2 NPAT turned negative and the cash rebound was driven by a $17.4m working-capital release.
HY24 · Released 19 January 2024
Cash conversion improved sharply but earnings power weakened, leverage rose to 2.6x net debt/EBITDA, and FY24 guidance trails FY23's $61.2m.
Get the next PGG Wrightson result briefing and five-year history updates by email.