The current NZX companies that most clearly illustrate each Annolyse principle, based on the latest published company and market data.
Examples generated 07-09-2026 4:02am NZT using company and market data prepared 07-09-2026 4:02am NZT.
The quality of the business trajectory and the quality of the market outcome are separate signals.
RAK
Rakon currently illustrates a decoupled Mr. Market case: fundamentals are classified as stable while the share price moved +176.8% over 12 months. That difference is the useful part of the signal, not a recommendation. Historical context adds: Revenue growth: 30.2%, above normal range; 3-period mean -19.9%, range -32.0%-2.0%.
WIN
Winton Land currently illustrates process versus outcome because fundamentals are classified as improving while the share price is down -49.8% over 12 months. The market outcome looks poor; the business-direction signal is stronger than the price chart alone suggests.
ArborGen Holdings currently illustrates process versus outcome because fundamentals are classified as improving while the share price is down -48.4% over 12 months. The market outcome looks poor; the business-direction signal is stronger than the price chart alone suggests. Historical context adds: EBITDA margin: 16.8%, below normal range; 3-period mean 19.1%, range 17.7%-21.2%.
PEB
Pacific Edge currently illustrates the opposite side of process versus outcome: fundamentals are deteriorating while the share price is up +83.1% over 12 months. The price outcome looks good, but the business-direction signal is weaker.
Summerset Group Holdings currently illustrates process versus outcome because fundamentals are classified as improving while the share price is down -24.6% over 12 months. The market outcome looks poor; the business-direction signal is stronger than the price chart alone suggests. Historical context adds: Debtor days: 105.6 days, above normal range; 3-period mean 54.7 days, range 50.8 days-57.6 days.
Large market moves are most useful when viewed beside the underlying business volatility.
The a2 Milk Company is a panicking Mr. Market example: fundamentals are stable while the share price fell -21.4%. The noise ratio is 15.6×, so the market moved much more than the business inputs.
Precinct Properties is a panicking Mr. Market example: fundamentals are stable while the share price fell -23.9%. The noise ratio is 8.7×, so the market moved much more than the business inputs.
SEK
Seeka is a euphoric Mr. Market example: fundamentals are stable while the share price rose +22.2%. The noise ratio is 8.2×, so the price range moved much more than the business inputs.
Scott Technology is a euphoric Mr. Market example: fundamentals are stable while the share price rose +43.6%. The noise ratio is 6.9×, so the price range moved much more than the business inputs.
Steel & Tube Holdings is a panicking Mr. Market example: fundamentals are stable while the share price fell -54.3%. The noise ratio is 5.9×, so the market moved much more than the business inputs. Historical context adds: EBITDA margin: -10.4%, below normal range; 3-period mean 4.9%, range -0.6%-8.8%.
For accumulators, the useful question is whether each new dollar now buys more earnings or cash flow while the business held up.
MOVE Logistics Group is currently net-buyer favourable: earnings yield improved by n/a, FCF yield moved by +4601 bps, and fundamentals are classified as improving. That makes the accumulation arithmetic more favourable than it was around the lookback anchor. Historical context adds: ROE: 2.7%, above normal range; 3-period mean -107.7%, range -177.0%--9.6%.
Promisia Healthcare is currently net-buyer favourable: earnings yield improved by +2924 bps, FCF yield moved by n/a, and fundamentals are classified as improving. That makes the accumulation arithmetic more favourable than it was around the lookback anchor. Historical context adds: OCF / EBITDA cash conversion: 96.2%, below normal range; 3-period mean 167.2%, range 107.1%-197.5%.
KMD
KMD Brands is currently net-buyer favourable: earnings yield improved by n/a, FCF yield moved by +2464 bps, and fundamentals are classified as stable. That makes the accumulation arithmetic more favourable than it was around the lookback anchor.
Argosy Property is currently net-buyer favourable: earnings yield improved by +1099 bps, FCF yield moved by n/a, and fundamentals are classified as stable. That makes the accumulation arithmetic more favourable than it was around the lookback anchor.
Sky Network Television is currently net-buyer favourable: earnings yield improved by +1007 bps, FCF yield moved by +1496 bps, and fundamentals are classified as improving. That makes the accumulation arithmetic more favourable than it was around the lookback anchor. Historical context adds: OCF / EBITDA cash conversion: 126.7%, above normal range; 3-period mean 85.5%, range 76.2%-103.4%.