Methodology
How Annolyse reads NZX results
Annolyse converts public company filings into structured metrics, validates core fields before publishing, and then writes editorial analysis from those validated numbers.
Metric glossary
Revenue growth
Current reported revenue compared with the prior comparable period. Mixed half-year/full-year absolute values are not treated as like-for-like.
EBITDA-equivalent
The company-specific earnings measure used in filings, including EBITDAF or EBITDAI where a company reports that measure.
Cash conversion
Operating cash flow divided by EBITDA-equivalent. Values above 100% usually indicate working-capital release, not necessarily higher-quality earnings.
Free cash flow
Operating cash flow less capital expenditure, shown before and after lease payments where the filing provides enough detail.
Net debt / EBITDA
Net debt divided by EBITDA-equivalent. Suppressed when EBITDA is negative because the ratio is not meaningful.
ROE
NPAT divided by equity where disclosed or derivable from the extraction artifact.
Dividend coverage
Dividend payout compared with NPAT and free cash flow. Nil dividends are shown as no dividend rather than as covered.