TGG · NZX

T&G Global Limited and subsidiary companies (TGG)

Primary Industries / HorticultureCovered: HY21 - FY2510 published briefings

T&G Global Limited and subsidiary companies is an NZX-listed primary industries / horticulture company with HY21 - FY25 of published result briefings.

Sections

Snapshot

Latest metrics

FY25, released 27 February 2026

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TGG latest metrics
Metric	Value	Change
Revenue	$1.6b	↑ +14.5%
Operating profit	$46.9m	↑ +270.4%
NPAT	$10.2m	↑ +163.8%
Operating cash flow	$91.9m	↑ +51.6%
OCF / Operating profit %	196.0%	↓ -283.0pp
Net debt	$147.2m	↓ -12.5%
Net debt / Operating profit	3.14x	↓ -76.4%
ROE %	2.0%Outside range high roe. 2%; 4-period range -10.1% to 1.5%. ROE: 2.0%, above normal range; 4-period mean -3.2%, range -10.1%-1.5%.	↑ +5.2pp
PBT	$21.9m	↑ +422.1%
FCF pre-lease	$61.8m	↑ +312.2%

Source: latest published briefing (FY25, released 27 February 2026). Change compares against the prior equivalent period: FY24, released 3 March 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.

Prices as at close, 16 June 2026

Price and market cap

The latest close and share count context for the market price.

Market cap

$300.2m

End-of-day close multiplied by current shares on issue.

Profitability multiples

How the market price compares with recent earnings and cash-flow inputs.

P/E

29.43x

Recent market cap compared with trailing earnings.

EPS

0.08

Recent filing-derived earnings per share.

PEG

Not available

Not available for this company right now.

EV/EBITDA

9.54x

Enterprise value compared with recent EBITDA.

P/FCF

4.86x

Market cap compared with recent free cash flow.

P/B

0.59x

Market value compared with latest reported equity.

Income and fund shape

Yield and fund-style valuation where the company shape supports it.

Dividend yield

0.0%

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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Price vs earnings

Indexed lines compare direction from the first positive comparable filing point. The axis is an index, not dollars or cents.

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Chat

Ask about TGG

Ask follow-up questions about T&G Global Limited and subsidiary companies's latest result and company history.

Informational only. No buy, sell, hold, price-target, or personal financial advice.

Ask about TGG

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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TGG metric history
Metric	FY2512 MONTHS27 February 2026	HY256 MONTHS8 August 2025	FY2412 MONTHS3 March 2025	HY246 MONTHS9 August 2024	FY2312 MONTHS29 February 2024	HY236 MONTHS4 August 2023	FY2212 MONTHS28 February 2023	HY226 MONTHS5 August 2022	FY2112 MONTHS28 February 2022	HY216 MONTHS5 August 2021	Trend
Revenue	$1.6b	$920.6m	$1.4b	$820.1m	$1.3b	$765.3m	$1.3b	$645.5m	$1.4b	$652.1m	Chart
Revenue growth %	14.5%Unprecedented high revenue growth. 14.5%; 4-period range -4.4% to 2.3%. Revenue growth: 14.5%, unprecedented high; 4-period mean -0.8%, range -4.4%-2.3%.	12.3%	2.0%	7.2%	2.3%	18.6%Unprecedented high revenue growth. 18.6%; 4-period range -2.9% to 12.3%. Revenue growth: 18.6%, unprecedented high; 4-period mean 3.9%, range -2.9%-12.3%.	-4.4%Outside range low revenue growth. -4.4%; 4-period range -3.3% to 14.5%. Revenue growth: -4.4%, below normal range; 4-period mean 3.9%, range -3.3%-14.5%.	-1.0%	-3.3%	-2.9%Outside range low revenue growth. -2.9%; 4-period range -1% to 18.6%. Revenue growth: -2.9%, below normal range; 4-period mean 9.3%, range -1.0%-18.6%.	Chart FY25 Revenue growth %: Unprecedented high revenue growth. 14.5%; 4-period range -4.4% to 2.3%. Revenue growth: 14.5%, unprecedented high; 4-period mean -0.8%, range -4.4%-2.3%.
Operating profit	$46.9m	$18.1m	$12.7m	-$2.6m	-$45.6m	-$11.6m	$20.4m	$15m	$16.9m	$10.9m	Chart
Operating profit margin %	3.0%	2.0%	0.9%	-0.3%	-3.4%	-1.5%	1.6%	2.3%	1.2%	1.7%	Chart
PBT	$21.9m	$2.3m	-$6.8m	-$8.2m	-$64.2m	-$21.4m	-$3.3m	$7.8m	$9.8m	$5.1m	Chart
PBT growth %	—	—	—	—	—	—	—	52.9%	-55.5%	-62.8%	Chart
NPAT	$10.2m	-$1.1m	-$16m	-$21.4m	-$51.2m	-$17.7m	-$5.5m	$2.9m	$8.9m	$0.7m	Chart
NPAT growth %	—	—	—	—	—	—	—	-14.7%	-19.8%	-89.4%	Chart
Operating cash flow	$91.9m	$18.7m	$60.7m	-$13.1m	$25.6m	-$8.8m	-$0.47m	-$31m	$55.4m	$36.7m	Chart
OCF / Operating profit %	196.0%	103.4%	479.0%	498.9%	-56.1%	75.7%	-2.3%	-206.5%	327.8%	336.8%	Chart
FCF pre-lease	$61.8m	$12m	$15m	-$24.5m	-$42.9m	-$45.5m	-$100.4m	-$62.3m	$6.3m	$20.9m	Chart
FCF post-lease	—	—	—	—	—	—	-$100.4m	—	—	—	—
DPS	—	—	—	—	—	—	—	—	—	6.0c	—
ROE %	2.0%Outside range high roe. 2%; 4-period range -10.1% to 1.5%. ROE: 2.0%, above normal range; 4-period mean -3.2%, range -10.1%-1.5%.	-0.2%	-3.2%	-4.3%Unprecedented low roe. -4.3%; 4-period range -3.3% to 0.5%. ROE: -4.3%, unprecedented low; 4-period mean -0.7%, range -3.3%-0.5%.	-10.1%Unprecedented low roe. -10.1%; 4-period range -3.2% to 2%. ROE: -10.1%, unprecedented low; 4-period mean -0.2%, range -3.2%-2.0%.	-3.3%	-0.9%	0.5%Outside range high roe. 0.5%; 4-period range -4.3% to 0.3%. ROE: 0.5%, above normal range; 4-period mean -1.9%, range -4.3%-0.3%.	1.5%	0.3%	Chart FY23 ROE %: Unprecedented low roe. -10.1%; 4-period range -3.2% to 2%. ROE: -10.1%, unprecedented low; 4-period mean -0.2%, range -3.2%-2.0%. HY24 ROE %: Unprecedented low roe. -4.3%; 4-period range -3.3% to 0.5%. ROE: -4.3%, unprecedented low; 4-period mean -0.7%, range -3.3%-0.5%. FY25 ROE %: Outside range high roe. 2%; 4-period range -10.1% to 1.5%. ROE: 2.0%, above normal range; 4-period mean -3.2%, range -10.1%-1.5%.
Net debt	$147.2m	$240.1m	$168.2m	$239.7m	$166.9m	$189.7m	$89m	$120.6m	-$15.8m	$112.3m	Chart
Net debt / Operating profit	3.14x	13.25x	13.28x	-91.1x	-3.66x	-16.32x	4.36x	8.03x	-0.93x	10.3x	Chart
Debtor days	49	54	51Outside range high debtor days. 51d; 4-period range 6d to 49d. Debtor days: 51.3 days, above normal range; 4-period mean 34.9 days, range 6.3 days-48.7 days.	53	46	53Outside range low debtor days. 53d; 4-period range 53d to 62d. Debtor days: 52.5 days, below normal range; 4-period mean 55.7 days, range 52.6 days-61.9 days.	39	62Unprecedented high debtor days. 62d; 4-period range 53d to 54d. Debtor days: 61.9 days, unprecedented high; 4-period mean 53.3 days, range 52.5 days-54.3 days.	6Unprecedented low debtor days. 6d; 4-period range 39d to 51d. Debtor days: 6.3 days, unprecedented low; 4-period mean 46.1 days, range 38.8 days-51.3 days.	54	Chart FY24 Debtor days: Outside range high debtor days. 51d; 4-period range 6d to 49d. Debtor days: 51.3 days, above normal range; 4-period mean 34.9 days, range 6.3 days-48.7 days.
Inventory days	12Outside range low inventory days. 12d; 3-period range 15d to 18d. Inventory days: 12.1 days, below normal range; 3-period mean 17.1 days, range 15.1 days-18.5 days.	33Outside range low inventory days. 33d; 4-period range 33d to 53d. Inventory days: 32.8 days, below normal range; 4-period mean 43.6 days, range 33.0 days-53.3 days.	18	36	18Outside range high inventory days. 19d; 3-period range 12d to 18d. Inventory days: 18.5 days, above normal range; 3-period mean 15.0 days, range 12.1 days-17.8 days.	33	15	52	12	53Outside range high inventory days. 53d; 4-period range 33d to 52d. Inventory days: 53.3 days, above normal range; 4-period mean 38.5 days, range 32.8 days-51.9 days.	Chart FY23 Inventory days: Outside range high inventory days. 19d; 3-period range 12d to 18d. Inventory days: 18.5 days, above normal range; 3-period mean 15.0 days, range 12.1 days-17.8 days. HY25 Inventory days: Outside range low inventory days. 33d; 4-period range 33d to 53d. Inventory days: 32.8 days, below normal range; 4-period mean 43.6 days, range 33.0 days-53.3 days. FY25 Inventory days: Outside range low inventory days. 12d; 3-period range 15d to 18d. Inventory days: 12.1 days, below normal range; 3-period mean 17.1 days, range 15.1 days-18.5 days.
Total assets	$1.1b	$1.3b	$1.1b	$1.2b	$1.1b	$1.2b	$1.1b	$1.2b	$984.3m	$1.2b	Chart

Reference: annolyse.ai/companies/tgg

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.

OCF / EBITDA

Cash conversion against earnings.

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FCF pre-lease

Operating cash flow less capex before leases.

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FCF post-lease

Free cash flow after lease payments where available.

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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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Net debt / EBITDA

Leverage ratio, suppressed where earnings are not meaningful.

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DPS

Dividend per share declared for the period.

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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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Operating working-capital movement

Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.

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The setup & the reality

HY25 → FY25 Follow-through

The latest result is checked against what the prior briefing said to watch.

Historical setup

What HY25 said to watch

From PBT swung to $2.3m profit on Apples-led 12.3% revenue growth

No forward-work disclosure or stated target was supplied. Seasonality context shows HY24 produced 60.3% of FY24 revenue and 133.6% of FY24 NPAT, meaning the second half historically takes profit lower, not higher — Apples is an H1-weighted business. On that pattern, the strong HY25 first-half result does not annualise cleanly.

The release does not provide guidance on H2 margin shape, refinancing intentions, or capex run-rate. The next material disclosures will need to address the current-borrowings position and whether the loss-making segments stabilise.

Open questions

Open questions from HY25

Why has gross borrowings of $314.6m been reclassified so that $295.1m is now current versus $19.5m non-current, and what is the refinancing plan?
Can the Apples segment's improved 7% derived margin hold into H2 given the H1-weighted seasonality of the crop?
Why did VentureFruit and Other segment losses deepen to a combined $32.9m, and what is the path to break-even?
What level of capex is planned for H2, given the 40.7% step-down in H1 to only 0.7% of revenue?
What drove the $2.8m gap between group profit after tax of $1.7m and the -$1.1m attributable to parent equity holders?

This briefing cannot assess refinancing terms, banking covenants, dividend policy, or segment-level outlook because none were disclosed in the supplied materials.

Briefing archive

Every published Annolyse briefing for this company appears here in reverse chronological order.

FY25 · Released 27 February 2026

Apple-led 14.5% revenue lift drives T&G to $61.8m free cash flow

PBT swung 420.6% to $21.9m on premium apple pricing, with a one-third capex cut and a 26.7% tax rate flattering the read.

Read briefing

HY25 · Released 8 August 2025

PBT swung to $2.3m profit on Apples-led 12.3% revenue growth

Operating cash flow turned positive and the apple segment doubled its result, but gross borrowings reclassified almost entirely to current.

Read briefing

FY24 · Released 3 March 2025

Apples-led recovery cut T&G's PBT loss 89%, but debtors ran 51.3 days

Headline earnings improved sharply, but receivables at 51.3 days versus a 28.8-day historical mean signal collection pressure absorbing the cash gain.

Read briefing

HY24 · Released 9 August 2024

PBT improved 61.6% but NPAT fell 20.9% on a -126.7% tax rate

Apples drove the operating recovery, but tax distortion, a NZ$50.0m rise in net debt and weaker operating cash cloud the read.

Read briefing

FY23 · Released 29 February 2024

Operating profit swung to a $45.6m loss; PBT margin hit unprecedented -4.8%

Weather-driven volume damage pushed PBT to -$64.2m as gross borrowings rose 33.9% and equity fell 10.0%.

Read briefing

HY23 · Released 4 August 2023

Apples result swung NZ$28.6m to a loss, dragging group to a PBT loss

Revenue rose 18.6% to NZ$765.3m but PBT fell to negative NZ$21.4m as a cyclone-hit apples crop and net debt up 57% strained the balance sheet.

Read briefing

FY22 · Released 28 February 2023

FCF hit unprecedented -NZ$100.4m as capex doubled and debtors surged

Operating profit rose 20.9% but a NZ$123.7m working-capital absorption pushed T&G from net cash to NZ$89.0m of net debt.

Read briefing

HY22 · Released 5 August 2022

Operating cash swung NZ$67.8m negative as PBT improved 52.9%

Pre-lease free cash flow fell to NZ$-62.3m and debtor days hit an unprecedented 61.9, undercutting the headline operating-profit recovery.

Read briefing

FY21 · Released 28 February 2022

PBT fell 55.5% on a 3.3% revenue decline as trading swung to loss

Apples earnings dropped on COVID labour and supply chain pressures while deleveraging moved T&G into a net cash position.

Read briefing

HY21 · Released 5 August 2021

PBT fell 63% on -2.9% revenue while cash flow was flattered by working-capital

Apples and International Trading margins eroded and inventory days climbed to 53.3, while a NZ$14.5m receivables-led release lifted operating cash

Read briefing

Get notified when TGG publishes

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T&G Global Limited and subsidiary companies (TGG)

Latest metrics

Valuation

Price and market cap

Profitability multiples

Income and fund shape

Price history

Share price

Price vs earnings

Ask about TGG

Ask about TGG

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Performance over time

Filing-only history charts

Revenue

Revenue growth

EBITDA-equivalent

EBITDA margin

NPAT

Operating cash flow

Full chartable metric set

OCF / EBITDA

FCF pre-lease

FCF post-lease

ROE

Net debt

Net debt / EBITDA

DPS

Debtor days

Inventory days

Operating working-capital movement

HY25 → FY25 Follow-through

What HY25 said to watch

Open questions from HY25

Briefing archive

Apple-led 14.5% revenue lift drives T&G to $61.8m free cash flow

PBT swung to $2.3m profit on Apples-led 12.3% revenue growth

Apples-led recovery cut T&G's PBT loss 89%, but debtors ran 51.3 days

PBT improved 61.6% but NPAT fell 20.9% on a -126.7% tax rate

Operating profit swung to a $45.6m loss; PBT margin hit unprecedented -4.8%

Apples result swung NZ$28.6m to a loss, dragging group to a PBT loss

FCF hit unprecedented -NZ$100.4m as capex doubled and debtors surged

Operating cash swung NZ$67.8m negative as PBT improved 52.9%

PBT fell 55.5% on a 3.3% revenue decline as trading swung to loss

PBT fell 63% on -2.9% revenue while cash flow was flattered by working-capital

Compare this company

Get notified when TGG publishes

T&G Global Limited and subsidiary companies (TGG)

Latest metrics

Valuation

Price and market cap

Profitability multiples

Income and fund shape

Price history

Share price

Price vs earnings

Ask about TGG

Ask about TGG

Sign in to chat

Performance over time

Filing-only history charts

Revenue

Revenue growth

EBITDA-equivalent

EBITDA margin

NPAT

Operating cash flow

Full chartable metric set

OCF / EBITDA

FCF pre-lease

FCF post-lease

ROE

Net debt

Net debt / EBITDA

DPS

Debtor days

Inventory days

Operating working-capital movement

HY25 → FY25 Follow-through

What HY25 said to watch