Market cap
$221.3m
End-of-day close multiplied by current shares on issue.
SEK · NZX
Seeka is an NZX-listed primary industries / horticulture company with FY22 - FY25 of published result briefings.
Snapshot
FY25, released 27 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $439.6m | ↑ +6.9% |
| EBITDA | $95.9m | ↑ +25.9% |
| NPAT | $32m | ↑ +263.6% |
| Operating cash flow | $79m | ↑ +19.6% |
| OCF / EBITDA % | 82.4% | ↓ -4.4pp |
| Net debt | $100.3m | ↓ -27.0% |
| Net debt / EBITDA | 1.05xOutside range low net debt / ebitda. 1.05x; 3-period range 1.8x to 6.63x. Net debt / EBITDA: 1.05x, below normal range; 3-period mean 3.88x, range 1.80x-6.63x. | ↓ -41.7% |
| ROE % | 10.7% | ↑ +7.4pp |
| DPS | 25.0c | ↑ +400.0% |
| Payout ratio vs NPAT % | 32.9% | ↑ +9.1pp |
Source: latest published briefing (FY25, released 27 February 2026). Change compares against the prior equivalent period: FY24, released 27 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
$221.3m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
6.91x
Recent market cap compared with trailing earnings.
EPS
0.72
Recent filing-derived earnings per share.
PEG
0.03x
P/E compared with recent earnings growth.
EV/EBITDA
3.35x
Enterprise value compared with recent EBITDA.
P/FCF
3.82x
Market cap compared with recent free cash flow.
P/B
0.74x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
5.0%
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 Seeka'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 | FY2512 MONTHS27 February 2026 | FY2412 MONTHS27 February 2025 | FY2312 MONTHS28 February 2024 | HY236 MONTHS23 August 2023 | FY2212 MONTHS23 February 2023 | Trend |
|---|---|---|---|---|---|---|
| Revenue | $439.6m | $411.4m | $300.9m | $212.7m | $348.4m | Chart |
| Revenue growth % | 6.9%Outside range low revenue growth. 6.9%; 3-period range 12.5% to 41.5%. Revenue growth: 6.9%, below normal range; 3-period mean 30.2%, range 12.5%-41.5%. | 36.7% | 41.5%Outside range high revenue growth. 41.5%; 3-period range 6.9% to 36.7%. Revenue growth: 41.5%, above normal range; 3-period mean 18.7%, range 6.9%-36.7%. | -14.0% | 12.5% | Chart
|
| EBITDA | $95.9m | $76.1m | $26m | $36.4m | $46.1m | Chart |
| EBITDA margin % | 21.8%Outside range high ebitda margin. 21.8%; 3-period range 8.6% to 18.5%. EBITDA margin: 21.8%, above normal range; 3-period mean 13.5%, range 8.6%-18.5%. | 18.5% | 8.6%Outside range low ebitda margin. 8.6%; 3-period range 13.2% to 21.8%. EBITDA margin: 8.6%, below normal range; 3-period mean 17.8%, range 13.2%-21.8%. | 17.1% | 13.2% | Chart
|
| PBT | $47.5m | $29.7m | -$21m | $13.6m | $7.6m | Chart |
| PBT growth % | 59.9% | — | — | -54.8% | -67.7% | Chart |
| NPAT | $32m | $8.8m | -$14.5m | $10.5m | $6.5m | Chart |
| NPAT growth % | 263.6% | — | — | -51.2% | -56.4% | Chart |
| Operating cash flow | $79m | $66m | $2.7m | $4.5m | $12.1m | Chart |
| OCF / EBITDA % | 82.4% | 86.8%Outside range high ocf / ebitda cash conversion. 86.8%; 3-period range 10.3% to 82.4%. OCF / EBITDA cash conversion: 86.8%, above normal range; 3-period mean 39.7%, range 10.3%-82.4%. | 10.3%Outside range low ocf / ebitda cash conversion. 10.3%; 3-period range 26.3% to 86.8%. OCF / EBITDA cash conversion: 10.3%, below normal range; 3-period mean 65.2%, range 26.3%-86.8%. | 12.3% | 26.3% | Chart
|
| FCF pre-lease | $57.9m | $47.7m | -$20.1m | -$9.4m | -$17.6m | Chart |
| DPS | 25.0c | 5.0c | — | — | 0.0c | Chart |
| Payout ratio vs NPAT % | 32.9% | 23.8% | — | — | — | Chart |
| Annual payout ratio vs EPS % | 32.9% | 23.8% | — | — | — | Chart |
| ROE % | 10.7% | 3.3% | -5.6% | 3.8% | 2.4% | Chart |
| Net debt | $100.3m | $137.3m | $172.4m | $177m | $147.4m | Chart |
| Net debt / EBITDA | 1.05xOutside range low net debt / ebitda. 1.05x; 3-period range 1.8x to 6.63x. Net debt / EBITDA: 1.05x, below normal range; 3-period mean 3.88x, range 1.80x-6.63x. | 1.8x | 6.63xOutside range high net debt / ebitda. 6.63x; 3-period range 1.05x to 3.2x. Net debt / EBITDA: 6.63x, above normal range; 3-period mean 2.02x, range 1.05x-3.20x. | 4.86x | 3.2x | Chart
|
| Debtor days | 11 | 16 | 27Outside range high debtor days. 27d; 3-period range 0d to 16d. Debtor days: 27.1 days, above normal range; 3-period mean 8.9 days, range 0.0 days-15.6 days. | 37 | 0 | Chart
|
| Inventory days | 9 | 9 | 13 | 13 | 13 | Chart |
| Total assets | $605.4m | $549.9m | $548.8m | $582.7m | $547.9m | Chart |
Reference: annolyse.ai/companies/sek
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.
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 Seeka EBITDA surged 192.9% but tax distortion masked a PBT-to-NPAT gap
Seeka confirmed its PBT result of NZ$29.7m fell within the guidance range of NZ$27.5m–NZ$31.5m. No forward earnings guidance is provided for FY25, and the company has offered limited explicit forward-work visibility in the release.
Second-half earnings shape is worth noting: the H1 FY24 NPAT of NZ$10.5m implies a H2 NPAT loss of approximately NZ$1.7m, which reflects the seasonal nature of the kiwifruit business but also suggests underlying second-half earnings remain modest. The FY24 recovery is substantially a volume-recovery event; the question for FY25 is whether industry volumes hold and whether margins at current EBITDA levels of 18.5% — at the upper edge of Seeka's historical range but below the historical maximum of 21.8% — are sustainable without a further step-up.
Open questions
This briefing cannot assess the sustainability of the kiwifruit volume recovery, future industry supply dynamics, or the likelihood of the tax benefit recurring.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
FY25 · Released 27 February 2026
Post-harvest segment gross margin lifted from 26.6% to 37.9% drove the real operating gain, while a normalising tax rate amplifies the headline NPAT
FY24 · Released 27 February 2025
Revenue jumped 36.7% on a kiwifruit volume recovery, lifting PBT to NZ$29.7m from a NZ$21.0m loss, while a -70.5% effective tax rate widened the gap
FY23 · Released 28 February 2024
A NZ$24.5m working-capital release lifted operating cash, but FCF pre-lease was still NZ$-20.1m and banking support was needed.
HY23 · Released 23 August 2023
Cash conversion collapsed from 38.8% to 12.3% in Seeka's seasonally strong half, with orchard and Australian operations swinging to losses.
FY22 · Released 23 February 2023
Revenue grew 12.5% but a loss-making second half, NZ$17.6m of pre-lease cash burn and leverage at 3.2x EBITDA dominate the read.
Get the next Seeka result briefing and five-year history updates by email.