Stock MCY MERCURY NZ LIMITED
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Financials Mercury NZ Limited

Equities

MCY

NZMRPE0001S2

Electric Utilities

End-of-day quote New Zealand S.E.
Other stock markets
 03:30:00 30/04/2024 am IST 		5-day change 1st Jan Change
6.38 NZD +1.75% Intraday chart for Mercury NZ Limited -0.47% -3.33%
08/03 New Zealand Shares Jump on Friday, Fisher & Paykel Healthcare's Chair to Retire MT
08/03 Fisher & Paykel Healthcare's Chair to Retire MT

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,335 6,403 9,087 7,902 9,014 9,061 - -
Enterprise Value (EV) 1 7,474 7,615 10,416 9,863 10,921 10,891 10,943 11,025
P/E ratio 17.7 x 30.9 x 64.4 x 16.5 x 87.4 x 27.9 x 30.4 x 29.4 x
Yield 3.33% 3.36% 2.55% 3.54% 3.35% 3.59% 3.95% 4.2%
Capitalization / Revenue 3.17 x 3.62 x 4.44 x 3.61 x 3.3 x 3.06 x 3.03 x 3.01 x
EV / Revenue 3.74 x 4.31 x 5.09 x 4.51 x 4 x 3.68 x 3.66 x 3.66 x
EV / EBITDA 14.8 x 15.4 x 22.5 x 17 x 13 x 12.3 x 12.3 x 12.1 x
EV / FCF 32.1 x 47.3 x 124 x 41.4 x 33.3 x 34.4 x 77.1 x 28.8 x
FCF Yield 3.12% 2.11% 0.81% 2.41% 3% 2.91% 1.3% 3.47%
Price to Book 1.79 x 1.71 x 2.17 x 1.62 x 1.86 x 1.85 x 1.84 x 1.82 x
Nbr of stocks (in thousands) 13,62,301 13,62,301 13,62,301 13,98,582 13,86,793 13,94,056 - -
Reference price 2 4.650 4.700 6.670 5.650 6.500 6.500 6.500 6.500
Announcement Date 19/08/19 17/08/20 16/08/21 16/08/22 20/08/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Junio 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,000 1,768 2,045 2,188 2,730 2,959 2,989 3,010
EBITDA 1 505 494 463 581 841 887.2 890.6 912
EBIT 1 301 280 242 288 497 544.4 538.2 559.4
Operating Margin 15.05% 15.84% 11.83% 13.16% 18.21% 18.4% 18.01% 18.58%
Earnings before Tax (EBT) 1 430 248 173 510 142 432.1 413.6 436.7
Net income 1 357 207 141 469 103 327.1 300.3 312.4
Net margin 17.85% 11.71% 6.89% 21.44% 3.77% 11.05% 10.05% 10.38%
EPS 2 0.2623 0.1521 0.1036 0.3432 0.0744 0.2330 0.2139 0.2211
Free Cash Flow 1 233 161 84 238 328 317 142 382.5
FCF margin 11.65% 9.11% 4.11% 10.88% 12.01% 10.71% 4.75% 12.71%
FCF Conversion (EBITDA) 46.14% 32.59% 18.14% 40.96% 39% 35.73% 15.94% 41.94%
FCF Conversion (Net income) 65.27% 77.78% 59.57% 50.75% 318.45% 96.92% 47.29% 122.46%
Dividend per Share 2 0.1550 0.1580 0.1700 0.2000 0.2180 0.2334 0.2570 0.2728
Announcement Date 19/08/19 17/08/20 16/08/21 16/08/22 20/08/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2024 S1 2024 S2
Net sales 928 840 944 1,101 873 - - 1,605 -
EBITDA 258 - - - 242 - - 434 -
EBIT - - - 58 - - - - -
Operating Margin - - - 5.27% - - - - -
Earnings before Tax (EBT) - - - - - - - - -
Net income - - - - - - - - -
Net margin - - - - - - - - -
EPS - - - - - - - - -
Dividend per Share 1 0.0640 - - 0.1020 0.0800 0.1200 0.0870 0.0930 0.1400
Announcement Date 24/02/20 17/08/20 22/02/21 16/08/21 21/02/22 16/08/22 - 19/02/24 -
1NZD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,139 1,212 1,329 1,961 1,907 1,829 1,881 1,964
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.255 x 2.453 x 2.87 x 3.375 x 2.268 x 2.062 x 2.112 x 2.153 x
Free Cash Flow 1 233 161 84 238 328 317 142 383
ROE (net income / shareholders' equity) 4.71% 5.69% 3.66% 3.27% 2.15% 5.55% 5.73% 6.26%
ROA (Net income/ Total Assets) 5.67% 3.1% 1.95% 1.66% 1.08% 2.6% 4.25% 4.54%
Assets 1 6,295 6,684 7,223 28,330 9,525 12,580 7,070 6,876
Book Value Per Share 2 2.600 2.750 3.070 3.480 3.500 3.510 3.540 3.580
Cash Flow per Share 2 0.2400 0.2600 0.2500 0.2600 0.4200 0.4600 0.4000 0.4800
Capex 1 93 195 254 114 297 314 494 504
Capex / Sales 4.65% 11.03% 12.42% 5.21% 10.88% 10.62% 16.52% 16.73%
Announcement Date 19/08/19 17/08/20 16/08/21 16/08/22 20/08/23 - - -
1NZD in Million2NZD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mercury NZ Limited

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
5
Last Close Price
6.5 NZD
Average target price
6.334 NZD
Spread / Average Target
-2.55%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Hydroelectric & Tidal Utilities

1st Jan change Capi.
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CHINA SOUTHERN POWER GRID ENERGY STORAGE CO., LTD. Stock China Southern Power Grid Energy Storage Co., Ltd.
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FEDERAL HYDRO-GENERATING COMPANY - RUSHYDRO Stock Federal Hydro-Generating Company - RusHydro
-.--% 3.77B
CHONGQING THREE GORGES WATER CONSERVANCY AND ELECTRIC POWER CO., LTD. Stock Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd.
-4.65% 1.9B
Hydroelectric & Tidal Utilities
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