Market cap
$456.8m
End-of-day close multiplied by current shares on issue.
WIN · NZX
Winton Land is an NZX-listed property / residential development company with HY24 - HY26 of published result briefings.
Snapshot
HY26, released 20 February 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $32.4m | ↓ -60.0% |
| EBITDA | $0.79m | ↑ +1508.9% |
| NPAT | -$0.9m | ↑ +55.0% |
| Operating cash flow | -$9.9m | ↓ -136.6% |
| OCF / EBITDA % | n/m | ↑ +47080.8pp |
| Net debt | $104.9m | ↑ +100.1% |
| Net debt / EBITDA | 133.01x | ↑ +114.2% |
| ROE % | -0.2% | ↑ +0.2pp |
| PBT | -$3.3m | ↓ -37.5% |
| FCF pre-lease | -$11.7m | ↑ +41.0% |
Source: latest published briefing (HY26, released 20 February 2026). Change compares against the prior equivalent period: HY25, released 21 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
$456.8m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
40.07x
Recent market cap compared with trailing earnings.
EPS
0.04
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
25.38x
Enterprise value compared with recent EBITDA.
P/FCF
14.73x
Market cap compared with recent free cash flow.
P/B
0.86x
Market value compared with latest reported equity.
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.
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 Winton Land'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 MONTHS20 February 2026 | FY2512 MONTHS27 August 2025 | HY256 MONTHS21 February 2025 | FY2412 MONTHS23 August 2024 | HY246 MONTHS20 February 2024 | Trend |
|---|---|---|---|---|---|---|
| Revenue | $32.4m | $155.4m | $81.1m | $173.6m | $85.6m | Chart |
| Revenue growth % | -60.0% | -10.4% | -5.3% | 8.8% | 0.6% | Chart |
| EBITDA | $0.79m | $21.3m | -$0.06m | $29.5m | $14.2m | Chart |
| EBITDA margin % | 2.4% | 13.7% | -0.1% | 17.0% | 16.6% | Chart |
| PBT | -$3.3m | $15.2m | -$2.4m | $27.5m | $13.6m | Chart |
| PBT growth % | — | -44.7% | — | -38.3% | -72.2% | Chart |
| NPAT | -$0.9m | $10.3m | -$2m | $15.7m | $9.7m | Chart |
| NPAT growth % | — | -34.4% | — | -50.5% | -71.9% | Chart |
| Operating cash flow | -$9.9m | $42.3m | $27.1m | $14.2m | $17.4m | Chart |
| OCF / EBITDA % | n/m | 198.9% | n/m | 48.1% | 122.9% | Chart |
| FCF pre-lease | -$11.7m | $22.9m | -$19.9m | -$27.8m | -$7m | Chart |
| FCF post-lease | — | $22.9m | — | — | — | — |
| DPS | — | — | — | — | 0.6c | — |
| Payout ratio vs NPAT % | — | — | — | — | 16.8% | — |
| ROE % | -0.2% | 1.9% | -0.4% | 3.0% | 1.9% | Chart |
| Net debt | $104.9m | $79.2m | $52.4m | $23.1m | -$35.2m | Chart |
| Net debt / EBITDA | 133.01x | 3.72x | -936.46x | 0.78x | -2.48x | Chart |
| Inventory days | 2813 | 530 | 985 | 520 | 1007 | Chart |
| Total assets | $719.5m | $703.9m | $663.3m | $654.1m | $648.1m | Chart |
Reference: annolyse.ai/companies/win
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.
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 Net debt/EBITDA jumped from 0.8x to 3.7x as PBT fell 44.7%
No forward earnings target or pre-sales pipeline value is provided in the supplied data, so this release cannot be benchmarked to a stated number. Management points to a c.5,750-unit landbank and an unconditional/conditional pre-sales book, but neither a dollar value nor a coverage ratio is in the supplied excerpts.
The shape of the year was heavily second-half weighted: H1 FY25 produced a $0.1m EBITDA loss and a $2.0m NPAT loss, so essentially all of the FY25 EBITDA ($21.3m implied) and NPAT ($12.3m implied) was earned in H2. That concentration means the FY26 entry run-rate depends on whether the H2 settlement cadence repeats, not on extrapolating the full-year average.
Open questions
This briefing cannot assess facility covenants, pre-sales dollar value, or unit selling price trends because none of those are quantified in the supplied disclosures.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
HY26 · Released 20 February 2026
Revenue fell 60.0% and net debt nearly doubled as inventories built, even as the commercial portfolio swung to a positive segment result.
FY25 · Released 27 August 2025
Strong reported cash flow came from a $21.6m inventory drawdown, masking rising leverage and a paused dividend.
HY25 · Released 21 February 2025
A 5.3% revenue dip turned $14.2m of EBITDA into a $0.1m loss while capex nearly doubled and the cash balance fell $73.2m.
FY24 · Released 23 August 2024
A $65.4m inventory build and $42.1m of capex consumed the cash pile and required a new debt facility, even as revenue rose 8.8%.
HY24 · Released 20 February 2024
Residential development margins compressed sharply, with capex up 199.9% and $64.1m drawn on a previously undrawn debt facility.
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