Financial Ratios Meridian Energy Limited

Stocks

MEL

NZMELE0002S7

Electric Utilities

End-of-day quote New Zealand S.E. Other stock markets 21/07/2026			5-day change	1st Jan Change
5.630 ^NZD	+0.18%		+0.90%	+0.54%

03:13pm	Forsyth Barr Upgrades Meridian Energy to Neutral from Underperform; Price Target is NZ$6.10	MT
07:29am	Awareness of Power Support Services Grows in New Zealand, Electricity Authority Says	MT

9a984595b03a1899e2834cdd0ceb.u7zY_Ca1cBF6H8W8eGLPhJ36jK3kE6d6-61Wjotye3o.5MWHxVDnOVoueYTGSSmBs-ir5OmIfcU-moAxv9wGSxWW5ofEZO0WaANarg

Published financial data: MERIDIAN ENERGY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2021	2022	2023	2024	2025
Revenues - (Utility Template)	429.6Cr	370.3Cr	322.2Cr	485.6Cr	483.5Cr
Total Revenues	429.6Cr	370.3Cr	322.2Cr	485.6Cr	483.5Cr
Selling General & Admin Expenses, Total	-	-	-	-	-
Depreciation & Amortization - (IS) - (Collected)	30Cr	29Cr	29Cr	33Cr	45Cr
Other Operating Expenses	339.8Cr	284.9Cr	277.4Cr	384.9Cr	488.5Cr
Total Operating Expenses	370.1Cr	314.2Cr	306.8Cr	418.3Cr	533.2Cr
Operating Income (REIT / Utility Template)	60Cr	56Cr	15Cr	67Cr	-50Cr
Interest Expense, Total	-50L	6.3Cr	-3.1Cr	-7.3Cr	-9.6Cr
Interest and Investment Income	-	30L	1.1Cr	1.2Cr	50L
Net Interest Expenses	-50L	6.6Cr	-2Cr	-6.1Cr	-9.1Cr
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	59Cr	63Cr	13Cr	61Cr	-59Cr
Gain (Loss) on Sale of Investments	-	-	-	-	80L
Gain (Loss) on Sale of Assets	-10L	-	-	0	-60L
Asset Writedown	60L	-20L	-80L	-1.8Cr	-3.3Cr
EBT, Incl. Unusual Items	60Cr	62Cr	13Cr	59Cr	-62Cr
Income Tax Expense	17Cr	17Cr	3.1Cr	16Cr	-17Cr
Earnings From Continuing Operations	43Cr	45Cr	9.5Cr	43Cr	-45Cr
Earnings Of Discontinued Operations	-	21Cr	-	-	-
Net Income to Company	43Cr	66Cr	9.5Cr	43Cr	-45Cr
Net Income - (IS)	43Cr	66Cr	9.5Cr	43Cr	-45Cr
Net Income to Common Incl Extra Items	43Cr	66Cr	9.5Cr	43Cr	-45Cr
Net Income to Common Excl. Extra Items	43Cr	45Cr	9.5Cr	43Cr	-45Cr
Per Share Items
Net EPS - Basic	0.17	0.26	0.04	0.17	-0.17
Basic EPS - Continuing Operations	0.17	0.18	0.04	0.17	-0.17
Basic Weighted Average Shares Outstanding	256.3Cr	257.09Cr	258.18Cr	258.76Cr	260.42Cr
Net EPS - Diluted	0.17	0.26	0.04	0.17	-0.17
Diluted EPS - Continuing Operations	0.17	0.18	0.04	0.17	-0.17
Diluted Weighted Average Shares Outstanding	256.3Cr	257.09Cr	258.18Cr	258.76Cr	260.42Cr
Normalized Basic EPS	0.14	0.15	0.03	0.15	-0.14
Normalized Diluted EPS	0.14	0.15	0.03	0.15	-0.14
Dividend Per Share	0.17	0.17	0.18	0.21	0.21
Payout Ratio	101.17	54.22	445.26	101.63	-85.62
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
Utility Revenues	427.7Cr	368.6Cr	320.3Cr	483.1Cr	479.4Cr
Non Utility Revenues	1.9Cr	1.7Cr	1.9Cr	2.5Cr	4.1Cr
EBITDA	87Cr	83Cr	42Cr	98Cr	-7Cr
EBITA	60Cr	56Cr	15Cr	67Cr	-50Cr
EBIT	60Cr	56Cr	15Cr	67Cr	-50Cr
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	28.07	27.84	24.6	27.78	26.98
Current Domestic Taxes	-	-	17Cr	20Cr	10Cr
Total Current Taxes	14Cr	14Cr	17Cr	20Cr	10Cr
Deferred Domestic Taxes	-	-	-13Cr	-3.4Cr	-27Cr
Total Deferred Taxes	3Cr	3.6Cr	-13Cr	-3.4Cr	-27Cr
Normalized Net Income	37Cr	39Cr	8.38Cr	38Cr	-37Cr
Interest Capitalized	-	60L	1.5Cr	1.7Cr	90L
Interest on Long-Term Debt	8.3Cr	7.8Cr	6.9Cr	8.5Cr	20L
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	20L	10L	10L	20L	-
Total Stock-Based Compensation	20L	10L	10L	20L	-

Fiscal Period: June	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	15Cr	36Cr	21Cr	22Cr	12Cr
Trading Asset Securities, Total	-	-	-	-	-
Accounts Receivable, Total	52Cr	43Cr	35Cr	55Cr	41Cr
Other Receivables	-	-	-	-	1.4Cr
Accounts Receivable (Summary Subtotal)	52Cr	43Cr	35Cr	55Cr	42Cr
Other Current Assets, Total	25Cr	28Cr	19Cr	28Cr	14Cr
Total Current Assets	92Cr	107.7Cr	75Cr	105.1Cr	68Cr
Gross Property Plant And Equipment	874.9Cr	795.6Cr	910.7Cr	1.23TCr	1.41TCr
Accumulated Depreciation	-15Cr	-13Cr	-12Cr	-9.7Cr	-10Cr
Net Property Plant And Equipment	859.8Cr	783Cr	898.9Cr	1.22TCr	1.4TCr
Goodwill	50L	-	-	-	-
Other Intangibles, Total	7.9Cr	8.5Cr	7.3Cr	6.2Cr	4.7Cr
Long-Term Investments - (Utility Template)	-	-	-	-	-
Deferred Tax Assets Long-Term (Collected)	3.5Cr	-	-	-	-
Other Long-Term Assets, Total	22Cr	38Cr	21Cr	24Cr	22Cr
Total Assets	985.6Cr	936.9Cr	1TCr	1.35TCr	1.5TCr
Liabilities
Accrued Expenses, Total	2.5Cr	1.8Cr	2Cr	2.1Cr	-
Current Portion of Long-Term Debt	38Cr	16Cr	21Cr	23Cr	37Cr
Current Portion of Leases	70L	40L	30L	30L	30L
Current Income Taxes Payable	3.7Cr	3.2Cr	4.6Cr	8.5Cr	-
Unearned Revenue, Current	2.3Cr	1.3Cr	1.4Cr	1Cr	-
Other Current Liabilities - (Bank / Utility Template)	64Cr	50Cr	42Cr	65Cr	67Cr
Total Current Liabilities	111Cr	73Cr	72Cr	100.4Cr	103.5Cr
Long-Term Debt	129.8Cr	100.4Cr	102.2Cr	111.3Cr	117.5Cr
Long-Term Leases	9Cr	3.7Cr	2.4Cr	2.7Cr	2.5Cr
Deferred Tax Liability Non-Current	194Cr	193.2Cr	210.3Cr	294.9Cr	326.8Cr
Other Non Current Liabilities, Total	19Cr	15Cr	17Cr	20Cr	55Cr
Total Liabilities	463.2Cr	384.6Cr	403.5Cr	529.7Cr	605.4Cr
Common Stock, Total	160Cr	167.8Cr	170.8Cr	173.8Cr	189.7Cr
Retained Earnings	-154.8Cr	-124.2Cr	-160Cr	-163.1Cr	-262.1Cr
Treasury Stock	-50L	-70L	-80L	-90L	-1.3Cr
Comprehensive Income and Other	517.7Cr	509.4Cr	588.7Cr	814.8Cr	965.7Cr
Total Common Equity	522.4Cr	552.3Cr	598.7Cr	824.6Cr	892Cr
Total Equity	522.4Cr	552.3Cr	598.7Cr	824.6Cr	892Cr
Total Liabilities And Equity	985.6Cr	936.9Cr	1TCr	1.35TCr	1.5TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	256.21Cr	257.76Cr	258.32Cr	258.86Cr	261.55Cr
ECS Total Common Shares Outstanding	256.21Cr	257.76Cr	258.32Cr	258.86Cr	261.55Cr
Book Value / Share	2.04	2.14	2.32	3.19	3.41
Tangible Book Value	514Cr	543.8Cr	591.4Cr	818.4Cr	887.3Cr
Tangible Book Value Per Share	2.01	2.11	2.29	3.16	3.39
Total Debt	177.3Cr	120.4Cr	126.3Cr	137.7Cr	156.9Cr
Net Debt	162.5Cr	84Cr	105.1Cr	115.6Cr	144.6Cr
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	2.1Cr	5.6Cr	5.5Cr	6Cr	7.5Cr
Machinery, Total	14Cr	15Cr	14Cr	12Cr	33Cr
Full Time Employees	1T	925	878	936	-
Part Time Employees	28	31	107	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	90L	80L	40L	40L	50L

Fiscal Period: June	2021	2022	2023	2024	2025
Net Income	43Cr	66Cr	9.5Cr	43Cr	-45Cr
Depreciation, Depletion & Amortization	28Cr	28Cr	27Cr	30Cr	43Cr
Total Depreciation, Depletion & Amortization	28Cr	28Cr	27Cr	30Cr	43Cr
Amortization of Deferred Charges, Total	1.8Cr	2.2Cr	2.8Cr	3Cr	1.8Cr
(Gain) Loss On Sale of Asset - (CF)	10L	-	-	0	-1.1Cr
Total Asset Writedown	-60L	-	-	-	-
Stock-Based Compensation (CF)	20L	10L	10L	20L	-
Change in Accounts Receivable	-17Cr	8.4Cr	6.8Cr	-20Cr	13Cr
Change in Accounts Payable	21Cr	-11Cr	-9.5Cr	27Cr	-19Cr
Change in Unearned Revenues	-	-1Cr	20L	-40L	-
Change In Income Taxes	-4.2Cr	-50L	1.5Cr	3.9Cr	-10Cr
Change in Other Net Operating Assets (Collected)	-6Cr	-10L	-2.3Cr	-5.5Cr	8.8Cr
Other Operating Activities	-24Cr	-24Cr	15Cr	-15Cr	41Cr
Net Cash From Discontinued Operations	-	-21Cr	-	-	-
Cash from Operations	43Cr	46Cr	51Cr	67Cr	32Cr
Capital Expenditure	-7.6Cr	-14Cr	-32Cr	-28Cr	-14Cr
Sale of Property, Plant, and Equipment	-	20L	20L	-	-
Cash Acquisitions	-	-	-	-	-
Divestitures	-	77Cr	-	80L	-
Purchase / Sale of Intangible Assets	-3.8Cr	-3.1Cr	-1.3Cr	-4Cr	-4.1Cr
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-	-	-	-1.4Cr	-70L
Cash from Investing	-11Cr	60Cr	-33Cr	-33Cr	-19Cr
Long-Term Debt Issued, Total	11Cr	21Cr	26Cr	47Cr	53Cr
Total Debt Issued	11Cr	21Cr	26Cr	47Cr	53Cr
Long-Term Debt Repaid, Total	-1.7Cr	-69Cr	-16Cr	-36Cr	-36Cr
Total Debt Repaid	-1.7Cr	-69Cr	-16Cr	-36Cr	-36Cr
Repurchase of Common Stock	-30L	-20L	-20L	-20L	-60L
Common Dividends Paid	-43Cr	-36Cr	-42Cr	-44Cr	-39Cr
Common & Preferred Stock Dividends Paid	-43Cr	-36Cr	-42Cr	-44Cr	-39Cr
Special Dividend Paid	-	-	-	-	-
Cash from Financing	-34Cr	-84Cr	-33Cr	-33Cr	-22Cr
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	-2.8Cr	22Cr	-15Cr	90L	-9.8Cr
Supplemental Items
Cash Interest Paid	8.2Cr	7.6Cr	6.5Cr	8Cr	8.7Cr
Cash Income Tax Paid (Refund)	18Cr	14Cr	15Cr	16Cr	20Cr
Net Debt Issued / Repaid	9.1Cr	-48Cr	9.2Cr	11Cr	17Cr
Levered Free Cash Flow	45Cr	41Cr	13Cr	36Cr	6.44Cr
Unlevered Free Cash Flow	45Cr	37Cr	15Cr	40Cr	12Cr
Change In Net Working Capital	11Cr	11Cr	-8.7Cr	3.1Cr	-17Cr

Fiscal Period: June	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.82	3.65	0.99	3.58	-2.18
Return on Total Capital	5.36	5.11	1.38	4.99	-3.09
Return On Equity %	8.31	8.39	1.65	6.03	-5.27
Return on Common Equity	8.31	8.39	1.65	6.03	-5.27
Margin Analysis
Gross Profit Margin %	16.97	19.15	25.54	15.53	24.8
SG&A Margin	-	-	-	-	-
EBITDA Margin %	20.34	22.52	12.97	20.08	-1.45
EBITA Margin %	13.85	15.15	4.78	13.86	-10.28
EBIT Margin %	13.85	15.15	4.78	13.86	-10.28
Income From Continuing Operations Margin %	9.96	12.18	2.95	8.83	-9.35
Net Income Margin %	9.96	17.93	2.95	8.83	-9.35
Net Avail. For Common Margin %	9.96	12.18	2.95	8.83	-9.35
Normalized Net Income Margin	8.58	10.58	2.6	7.88	-7.6
Levered Free Cash Flow Margin	10.52	11.13	4.03	7.39	1.33
Unlevered Free Cash Flow Margin	10.59	10.06	4.63	8.33	2.57
Asset Turnover
Asset Turnover	0.44	0.39	0.33	0.41	0.34
Fixed Assets Turnover	0.5	0.45	0.38	0.46	0.37
Receivables Turnover (Average Receivables)	9.96	7.81	8.46	10.85	10.27
Short Term Liquidity
Current Ratio	0.83	1.48	1.04	1.05	0.66
Quick Ratio	0.6	1.1	0.78	0.77	0.52
Operating Cash Flow to Current Liabilities	0.39	0.63	0.71	0.66	0.31
Days Sales Outstanding (Average Receivables)	36.66	46.72	43.16	33.73	35.56
Long Term Solvency
Total Debt/Equity	33.94	21.8	21.1	16.7	17.59
Total Debt / Total Capital	25.34	17.9	17.42	14.31	14.96
LT Debt/Equity	26.57	18.85	17.47	13.82	13.45
Long-Term Debt / Total Capital	19.84	15.47	14.43	11.85	11.44
Total Liabilities / Total Assets	47	41.05	40.26	39.11	40.43
EBIT / Interest Expense	119	-8.9	4.97	9.22	-5.18
EBITDA / Interest Expense	176	-13.32	13.55	13.38	-0.71
(EBITDA - Capex) / Interest Expense	160.8	-11.08	3.35	9.53	-2.2
Total Debt / EBITDA	2.01	1.44	3.01	1.41	-23.07
Net Debt / EBITDA	1.85	1	2.5	1.18	-21.26
Total Debt / (EBITDA - Capex)	2.21	1.72	12.14	1.98	-7.44
Net Debt / (EBITDA - Capex)	2.02	1.2	10.11	1.66	-6.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	26.17	-6.56	-14.67	50.71	-0.43
Gross Profit, 1 Yr. Growth %	-14.54	2.46	39.97	-8.38	59.02
EBITDA, 1 Yr. Growth %	23.27	-2.68	-49.88	133.25	-107.18
EBITA, 1 Yr. Growth %	39.02	-2.94	-72.55	337.01	-173.85
EBIT, 1 Yr. Growth %	39.02	-2.94	-72.55	337.01	-173.85
Earnings From Cont. Operations, 1 Yr. Growth %	144.57	8.67	-78.94	351.58	-205.36
Net Income, 1 Yr. Growth %	144.57	55.14	-85.69	351.58	-205.36
Diluted EPS Before Extra, 1 Yr. Growth %	144.57	8.34	-79.02	350.57	-204.69
Normalized Net Income, 1 Yr. Growth %	99.32	8.85	-78.63	356.72	-196.08
Net Property, Plant and Equip., 1 Yr. Growth %	0.05	-8.93	14.8	35.63	15.09
Accounts Receivable, 1 Yr. Growth %	48.7	-16.28	-16.39	57.92	-24.25
Total Assets, 1 Yr. Growth %	2.43	-4.94	6.97	36.25	10.57
Tangible Book Value, 1 Yr. Growth %	2.43	5.8	8.75	38.38	8.42
Cash From Operations, 1 Yr. Growth %	-28.76	6.96	10.41	31.04	-52.32
Capital Expenditures, 1 Yr. Growth %	76.74	85.53	124.11	-11.08	-49.11
Levered Free Cash Flow, 1 Yr. Growth %	-11.66	-7	-70.75	176.42	-81.97
Unlevered Free Cash Flow, 1 Yr. Growth %	-23.49	-16.12	-63.11	171.11	-69.11
Dividend Per Share, 1 Yr. Growth %	0	2.96	2.87	17.32	0
Common Equity, 1 Yr. Growth %	2.79	5.72	8.4	37.73	8.17
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.93	4.28	-9.83	13.4	22.5
Gross Profit, 2 Yr. CAGR %	-6.73	-8.83	9.06	13.24	20.7
EBITDA, 2 Yr. CAGR %	0.23	8.46	-30.16	8.12	-59.08
EBITA, 2 Yr. CAGR %	-2.04	14.49	-48.38	9.53	79.65
EBIT, 2 Yr. CAGR %	-2.04	14.49	-48.38	9.53	79.65
Earnings From Cont. Operations, 2 Yr. CAGR %	12.36	60.53	-52.15	-2.47	118.13
Net Income, 2 Yr. CAGR %	12.36	94.79	-52.89	-19.62	118.13
Diluted EPS Before Extra, 2 Yr. CAGR %	12.36	60.29	-52.33	-2.78	117.19
Normalized Net Income, 2 Yr. CAGR %	11.57	45.54	-51.77	-1.2	109.48
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.29	-4.55	2.25	24.78	24.94
Accounts Receivable, 2 Yr. CAGR %	28.6	11.58	-18	14.91	8.17
Total Assets, 2 Yr. CAGR %	1.02	-1.32	0.84	20.23	22.74
Common Equity, 2 Yr. CAGR %	-2.16	4.25	7.05	22.19	22.06
Tangible Book Value, 2 Yr. CAGR %	-2.42	4.1	7.27	22.68	22.49
Cash From Operations, 2 Yr. CAGR %	-17.61	-12.71	8.67	20.29	-20.96
Capital Expenditures, 2 Yr. CAGR %	29.96	81.08	103.91	41.17	-32.73
Levered Free Cash Flow, 2 Yr. CAGR %	-3.85	-10.24	-45.85	-10.08	-29.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	-11.48	-20.83	-42.04	0	-8.71
Dividend Per Share, 2 Yr. CAGR %	1.45	1.47	2.92	9.86	8.31
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	15.86	1.98	-1.82	7.01	8.59
Gross Profit, 3 Yr. CAGR %	2.75	-5.42	-1.19	2.9	26.81
EBITDA, 3 Yr. CAGR %	11.95	-1.4	-16.15	4.39	-56.22
EBITA, 3 Yr. CAGR %	16.53	-3.28	-28.87	5.2	-3.96
EBIT, 3 Yr. CAGR %	16.53	-3.28	-28.87	5.2	-3.96
Earnings From Cont. Operations, 3 Yr. CAGR %	28.65	9.98	-18.42	1.11	0.07
Net Income, 3 Yr. CAGR %	28.65	25.12	-18.42	0.08	-12.03
Diluted EPS Before Extra, 3 Yr. CAGR %	28.65	9.87	-18.62	0.79	-0.35
Normalized Net Income, 3 Yr. CAGR %	26.57	9.77	-23.22	2.04	-2.12
Net Property, Plant and Equip., 3 Yr. CAGR %	2.69	-3.91	1.51	12.35	21.47
Accounts Receivable, 3 Yr. CAGR %	22.6	11.46	0	2.03	-0.73
Total Assets, 3 Yr. CAGR %	4.52	-1	1.37	11.17	16.92
Common Equity, 3 Yr. CAGR %	2.7	0.4	5.61	16.43	17.33
Tangible Book Value, 3 Yr. CAGR %	2.57	0.25	5.63	16.77	17.73
Cash From Operations, 3 Yr. CAGR %	0.31	-10.12	-5.6	15.67	-11.64
Capital Expenditures, 3 Yr. CAGR %	32.06	46.33	94.42	54.63	0.47
Levered Free Cash Flow, 3 Yr. CAGR %	7.87	-5.53	-36.67	-6.77	-47.47
Unlevered Free Cash Flow, 3 Yr. CAGR %	3.27	-13.74	-36.92	-3.07	-32.51
Dividend Per Share, 3 Yr. CAGR %	5.68	1.95	1.93	7.51	6.47
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.58	9.8	3.13	6.82	7.26
Gross Profit, 5 Yr. CAGR %	2.32	1.54	4.14	-2.09	7.05
EBITDA, 5 Yr. CAGR %	7.25	8.21	-7.67	2.3	-37.07
EBITA, 5 Yr. CAGR %	8.32	12.09	-16.35	1.65	3.03
EBIT, 5 Yr. CAGR %	8.32	12.09	-16.35	1.65	3.03
Earnings From Cont. Operations, 5 Yr. CAGR %	18.26	17.66	-13.92	4.82	20.9
Net Income, 5 Yr. CAGR %	18.26	27.12	-13.92	4.82	20.9
Diluted EPS Before Extra, 5 Yr. CAGR %	18.26	17.59	-14.04	4.62	20.51
Normalized Net Income, 5 Yr. CAGR %	18.45	16.28	-14.37	5.24	14.71
Net Property, Plant and Equip., 5 Yr. CAGR %	2.04	-0.33	2.51	6.68	10.3
Accounts Receivable, 5 Yr. CAGR %	21.61	9.22	4.38	11.92	3.19
Total Assets, 5 Yr. CAGR %	2.91	1.53	3.03	7	9.25
Common Equity, 5 Yr. CAGR %	0.68	1.63	4.42	8.61	11.91
Tangible Book Value, 5 Yr. CAGR %	0.54	1.54	4.42	8.68	12.07
Cash From Operations, 5 Yr. CAGR %	-0.95	-0.39	3.58	0.99	-12.07
Capital Expenditures, 5 Yr. CAGR %	12.59	33.7	57.12	44.24	27.17
Levered Free Cash Flow, 5 Yr. CAGR %	8.69	-0.53	-18.44	-5.98	-33.93
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.16	-3.19	-18.42	-6.96	-26.87
Dividend Per Share, 5 Yr. CAGR %	4.59	4.4	4.56	5.04	4.44