Market cap
$579.7m
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. Its latest covered result is HY26, with FY25 - HY26 of source-backed result history on Annolyse.
Sections
Latest result
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
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.
i
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
0.74x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
Dividend yield
1.6%
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 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.
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Ask about SAN
Ask follow-up questions about Sanford's latest result and company history.
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Ask about SAN
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Financial history
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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More financial metrics
Additional filing-backed metrics for this company. Each point links to the relevant published briefing.
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.
Latest result sources
Primary issuer documents used for the HY26 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.
Current period
HY26 Interim Report
HY26 / financial reportHY26 Media Release
HY26 / media releaseHY26 Results Announcement
HY26 / results announcementHY26 Results Presentation
HY26 / results presentationPrior comparable period
Interim Report HY25
HY25 / financial reportMedia Release HY25
HY25 / media releaseResults Announcement HY25
HY25 / results announcementFull-year context
FY25 Annual Report
FY25 / financial reportFY25 Media Release
FY25 / media releaseFY25 Results Announcement
FY25 / results announcementFY25 Results Presentation
FY25 / results presentationRelease context
Annual Meeting 2025 Results
HY26 / commentaryPeer context
Other covered Primary Industries companies
These companies share a broad sector but may not be direct peers. Compare them only where the underlying measures are genuinely comparable.
Archive
Briefing archive
The full chronological archive contains every published result briefing.
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
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