Sector comparison
Gentailers and utility-like infrastructure names compared on cash conversion, leverage, margins, and distributions.
Last updated 23 April 2026
Latest published period for each company in this sector view.
Blank bars mean Net debt / EBITDA is unavailable for that company, not zero.
| Company | Period | Coverage | Revenue growth | EBITDA margin | OCF / EBITDA | Net debt / EBITDA | DPS |
|---|---|---|---|---|---|---|---|
| Mercury NZMCY | HY26 | 10 periods | -5.2% | 32.3% | 65.4% | 4.23x | 10.0c |
| VectorVCT | HY26 | 10 periods | 6.1% | 0.0% | — | — | 12.5c |
| Contact EnergyCEN | HY26 | 7 periods | -5.3% | 30.9% | 61.6% | 5.78xOutside range high net debt / ebitda. 5.8x; 3-period range 4.58x to 5.03x. Net debt / EBITDA: 5.80x, above normal range; 3-period mean 4.80x, range 4.58x-5.03x. | 16.0c |
| Genesis EnergyGNE | HY26 | 7 periods | -12.9% | 19.8% | 87.1% | 4.6x | 7.3c |
| Meridian EnergyMEL | HY26 | 7 periods | -11.0% | 25.2% | 66.4% | 3.33x | 6.4c |
| ChorusCNU | HY26 | 6 periods | 1.2% | 70.6% | 63.9% | 8.89xOutside range high net debt / ebitda. 8.89x; 3-period range 6.55x to 8.1x. Net debt / EBITDA: 8.89x, above normal range; 3-period mean 7.37x, range 6.55x-8.10x. | 24.0c |
Source: latest published result for each company included in this sector comparison.
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Utilities are capital-heavy, so the useful read is not revenue alone. The page prioritises EBITDA margin, cash conversion, leverage, and distributions to show whether regulated or generation-linked earnings are converting into durable balance-sheet and dividend capacity.
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