Market cap
$654.5m
End-of-day close multiplied by current shares on issue.
SAN · NZX
Sanford (SAN)
Primary Industries / SeafoodCovered: FY25 - HY262 published briefings
Sanford is an NZX-listed primary industries / seafood company with FY25 - HY26 of published result briefings.
Sections
Snapshot
Latest metrics
HY26, released 14 May 2026
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| Metric | Value | Change |
|---|---|---|
| Revenue | $270.2m | — |
| Operating profit | $64m | — |
| NPAT | $42.4m | — |
| Operating cash flow | $13.7m | — |
| OCF / Operating profit % | 21.4% | — |
| Net debt | $102.1m | — |
| Net debt / Operating profit | 1.6x | — |
| ROE % | 5.7% | — |
| DPS | 5.0c | — |
| Payout ratio vs NPAT % | 11.0% | — |
Source: latest published briefing (HY26, released 14 May 2026). Change compares against the prior equivalent period: not available for this company.
Valuation
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.
Prices as at close, 29 July 2026
Price and market cap
The latest close and share count context for the market price.
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Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not available for this company right now.
EPS
Not available
Not available for this company right now.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not available for this company right now.
P/FCF
Not available
Not available for this company right now.
P/B
0.84x
Market value compared with latest reported equity.
Income and fund shape
Yield and fund-style valuation where the company shape supports it.
Dividend yield
1.4%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Price history
Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.
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.
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Chat
Ask about SAN
Ask follow-up questions about Sanford's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about SAN
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Longitudinal view
Performance over time
The latest period is shown first.
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| Metric | HY266 MONTHS14 May 2026 | FY2512 MONTHS18 November 2025 | Trend |
|---|---|---|---|
| Revenue | $270.2m | $584.1m | Chart |
| Revenue growth % | -5.5% | 0.2% | Chart |
| Operating profit | $64m | $102m | Chart |
| Operating profit margin % | 23.7% | 17.5% | Chart |
| PBT | $59.8m | $90m | Chart |
| PBT growth % | 25.6% | 140.6% | Chart |
| NPAT | $42.4m | $63.7m | Chart |
| NPAT growth % | 24.7% | 223.4% | Chart |
| Operating cash flow | $13.7m | $135.3m | Chart |
| OCF / Operating profit % | 21.4% | 132.7% | Chart |
| FCF pre-lease | $7m | $112.3m | Chart |
| DPS | 5.0c | 5.0c | Chart |
| Payout ratio vs NPAT % | 11.0% | 14.7% | Chart |
| Annual payout ratio vs EPS % | — | 14.7% | — |
| ROE % | 5.7% | 8.6% | Chart |
| Net debt | $102.1m | $93.4m | Chart |
| Net debt / Operating profit | 1.6x | 0.92x | Chart |
| Debtor days | 55 | 39 | Chart |
| Inventory days | 76 | 58 | Chart |
| Total assets | $1.1b | $1b | Chart |
Reference: annolyse.ai/companies/san
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.
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Revenue growth
Like-period revenue growth where comparable.
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EBITDA-equivalent
Company-specific earnings measure where disclosed.
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EBITDA margin
EBITDA-equivalent margin where revenue and earnings are source-backed.
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NPAT
Statutory profit after tax.
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Operating cash flow
Cash generated from operations.
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Full chartable metric set
Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.
FCF pre-lease
Operating cash flow less capex before leases.
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ROE
Return on equity.
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Net debt
Borrowings less cash; negative values indicate net cash.
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DPS
Dividend per share declared for the period.
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Payout ratio
Dividend payout against statutory NPAT.
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Debtor days
Receivables days where the working-capital inputs are source-backed.
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Inventory days
Inventory days where the working-capital inputs are source-backed.
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The setup & the reality
FY25 → HY26 Follow-through
The latest result is checked against what the prior briefing said to watch.
Historical setup
What FY25 said to watch
Previous analysisFY25Result releasedAnnolyse analysis published
From PBT up 140.6% on flat revenue with gross borrowings cut to $105.0m
No forward targets or quantified outlook were supplied. The first half delivered $286.0m of revenue and $34.0m of NPAT, implying second-half revenue of $298.1m on slightly lower second-half NPAT of $29.7m. The back-half NPAT step-down on marginally higher revenue suggests margin or cost pressure in H2 that the full-year headline does not surface. Without management guidance, the release supports a recovery read but does not justify extrapolating FY25's reported margin into FY26.
Open questions
Open questions from FY25
- Is the 29.2% effective tax rate the new baseline, or did FY25 benefit from one-off items the release does not detail?
- Why did H2 NPAT step down to $29.7m from $34.0m in H1 despite slightly higher H2 revenue?
- Can capex remain near 3.9% of revenue, or is FY26 spend set to revert toward the historical 6%–8% range?
- Why did inventory rise 25.9% while receivables fell 24.6% — harvest timing, channel changes, or pre-positioned stock?
- With NPAT roughly tripled and net debt nearly halved, what is the capital allocation framework that supports keeping the full-year dividend at 10.0 cps?
This briefing cannot assess underlying species pricing assumptions, FY26 catch or harvest volumes, or whether the Wildcatch segment's 16.4% gross margin reflects a sustainable run rate.
Archive
Briefing archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 14 May 2026
Record NPAT up 24.7% but operating cash collapsed 72.4%
A $28.5m inventory build and a $9.1m capex cut delivered the deleveraging story while draining nearly all of the earnings improvement from cash.
Read briefing
FY25 · Released 18 November 2025
PBT up 140.6% on flat revenue with gross borrowings cut to $105.0m
Operating recovery is real but NPAT growth of 223.4% is amplified by an effective tax rate that fell from 47.4% to 29.2%.
Read briefing
Get notified when SAN publishes
Get the next Sanford result briefing and five-year history updates by email.