Market cap
$1.3b
End-of-day close multiplied by current shares on issue.
SKL · NZX
Skellerup Holdings is an NZX-listed industrials / industrial products company with HY23 - HY26 of published result briefings.
Snapshot
HY26, released 12 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $183.5m | ↑ +11.0% |
| EBITDA | $49.4m | ↑ +14.4% |
| NPAT | $28.9m | ↑ +19.4% |
| Operating cash flow | $38.8m | ↑ +20.2% |
| OCF / EBITDA % | 78.5% | ↑ +3.9pp |
| Net debt | $17.5m | ↓ -14.3% |
| Net debt / EBITDA | 0.35x | ↓ -25.5% |
| ROE % | 12.0% | ↑ +1.4pp |
| DPS | 10.0c | ↑ +11.1% |
| Payout ratio vs NPAT % | 67.8% | ↓ -5.2pp |
Source: latest published briefing (HY26, released 12 February 2026). Change compares against the prior equivalent period: HY25, released 13 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
$1.3b
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
21.43x
Recent market cap compared with trailing earnings.
EPS
0.30
Recent filing-derived earnings per share.
PEG
1.1x
P/E compared with recent earnings growth.
EV/EBITDA
12.72x
Enterprise value compared with recent EBITDA.
P/FCF
21.05x
Market cap compared with recent free cash flow.
P/B
5.28x
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 Skellerup Holdings'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 MONTHS12 February 2026 | FY2512 MONTHS21 August 2025 | HY256 MONTHS13 February 2025 | FY2412 MONTHS15 February 2024 | FY2312 MONTHS17 August 2023 | HY236 MONTHS16 February 2023 | Trend |
|---|---|---|---|---|---|---|---|
| Revenue | $183.5m | $353.5m | $165.3m | $157.7m | $333.5m | $165.5m | Chart |
| Revenue growth % | 11.0% | 6.9% | -0.1% | -52.7% | 5.3% | 10.0% | Chart |
| EBITDA | $49.4m | $94.9m | $43.2m | $39.4m | $86.9m | $41.1m | Chart |
| EBITDA margin % | 26.9% | 26.8% | 26.1% | 25.0% | 26.1% | 24.8% | Chart |
| PBT | $39m | $74.3m | $33.1m | $29.2m | $67m | $31.5m | Chart |
| PBT growth % | 17.8% | 9.7% | 5.1% | -56.4% | 4.2% | 0.3% | Chart |
| NPAT | $28.9m | $54.5m | $24.2m | $21.6m | $50.9m | $23m | Chart |
| NPAT growth % | 19.4% | 16.2% | 5.2% | -57.6% | 6.5% | -0.9% | Chart |
| Operating cash flow | $38.8m | $66.5m | $32.2m | $36.5m | $54.1m | $20.2m | Chart |
| OCF / EBITDA % | 78.5% | 70.1% | 74.6% | 92.6% | 62.3% | 49.1% | Chart |
| FCF pre-lease | $29.9m | $58.2m | $27.9m | $31.3m | $45.9m | $15.9m | Chart |
| FCF post-lease | — | — | $27.9m | — | — | — | — |
| DPS | 10.0c | 16.5c | 9.0c | 8.5c | 14.0c | 8.0c | Chart |
| Payout ratio vs NPAT % | 67.8% | 91.7% | 73.0% | 199.6% | 84.5% | 68.1% | Chart |
| Annual payout ratio vs EPS % | — | 91.7% | — | 199.6% | 84.6% | — | Chart |
| ROE % | 12.0% | 22.7% | 10.6% | 9.9% | 22.6% | 11.0% | Chart |
| Net debt | $17.5m | $12.4m | $20.4m | $26.4m | $26.8m | $39m | Chart |
| Net debt / EBITDA | 0.35x | 0.13x | 0.47x | 0.67x | 0.31x | 0.95x | Chart |
| Debtor days | 50 | 56 | 56 | 103 | 54 | 54 | Chart |
| Inventory days | 82 | 80 | 94 | 169 | 82 | 89 | Chart |
| Total assets | $360.6m | $349.3m | $346.1m | $330.6m | $343m | $339.6m | Chart |
Reference: annolyse.ai/companies/skl
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 Cash conversion fell to 70.1% as working capital absorbed $9.0m
No forward earnings target was supplied with the result, so this release is judged against the H1 shape rather than guidance. HY25 contributed 46.8% of full-year revenue, 45.5% of EBITDA and 44.3% of NPAT, implying a second-half weighted year on every line. Implied H2 EBITDA of roughly $51.7m and H2 NPAT of $30.4m mean the second half carried the result.
Operating cash flow was more evenly split (HY25 took 48.5%), so the H2 EBITDA step-up did not convert proportionately into cash. That matters because the company will lap a stronger H2 base in FY26, and any continued working-capital investment would compound the cash-conversion gap rather than close it.
Open questions
This briefing cannot assess forward order book, customer-specific demand visibility, or the sustainability of the lower tax rate without management commentary on those items.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 12 February 2026
Operating leverage and a working-capital release drove record cash flow even as capex nearly doubled and Agri carried the mix shift.
FY25 · Released 21 August 2025
Revenue grew 6.9% and PBT 9.7%, but a lower effective tax rate flattered NPAT to +16.2% while inventory build pulled operating cash flow lower.
HY25 · Released 13 February 2025
Earnings expanded on essentially flat revenue, but inventory days rose to 94.5 as working capital absorbed $6.9m of cash.
FY24 · Released 15 February 2024
FY23 inventory build unwinds at the half, driving the cash uplift; management still guides FY24 NPAT similar to prior year.
FY23 · Released 17 August 2023
NPAT up 6.5% benefited from a lower effective tax rate, while working-capital release rather than margin expansion drove the cash flow improvement.
HY23 · Released 16 February 2023
A 32% inventory build absorbed working capital and lifted net debt by $13.4m while the raised dividend now consumes 98.6% of pre-lease free cash flow.
Get the next Skellerup Holdings result briefing and five-year history updates by email.