Financials Spark New Zealand Limited

Equities

SPK

NZTELE0001S4

Integrated Telecommunications Services

End-of-day quote New Zealand S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
4.65 NZD -1.80% Intraday chart for Spark New Zealand Limited 0.00% -10.23%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,345 8,377 8,962 8,984 9,391 8,436 - -
Enterprise Value (EV) 1 8,692 9,796 10,293 10,506 10,430 9,969 10,091 10,186
P/E ratio 17.9 x 19.7 x 23.2 x 21.9 x 8.4 x 18.9 x 18.1 x 17.6 x
Yield 6.25% 5.48% 5.21% 5.21% 5.3% 5.95% 6.05% 6.24%
Capitalization / Revenue 2.08 x 2.31 x 2.49 x 2.41 x 2.09 x 2.12 x 2.06 x 2 x
EV / Revenue 2.46 x 2.7 x 2.86 x 2.82 x 2.32 x 2.51 x 2.47 x 2.42 x
EV / EBITDA 7.97 x 8.8 x 9.16 x 9.14 x 8.74 x 8.09 x 7.94 x 7.75 x
EV / FCF 24 x 19.2 x 19.7 x 35.5 x 21.3 x 26.5 x 23.2 x 20.8 x
FCF Yield 4.16% 5.21% 5.08% 2.82% 4.69% 3.78% 4.32% 4.8%
Price to Book 5.01 x 5.61 x 5.96 x 6.09 x 4.84 x 4.97 x 5.12 x 5.2 x
Nbr of stocks (in thousands) 1,836,192 1,837,045 1,867,125 1,871,587 1,845,001 1,814,155 - -
Reference price 2 4.000 4.560 4.800 4.800 5.090 4.650 4.650 4.650
Announcement Date 20/08/19 25/08/20 17/08/21 23/08/22 17/08/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,533 3,623 3,593 3,720 4,491 3,973 4,091 4,208
EBITDA 1 1,090 1,113 1,124 1,150 1,193 1,233 1,271 1,314
EBIT 1 613 634 601 630 689 720.9 754.9 787.9
Operating Margin 17.35% 17.5% 16.73% 16.94% 15.34% 18.14% 18.45% 18.72%
Earnings before Tax (EBT) 1 579 577 553 581 1,152 629.4 653.6 687.6
Net income 1 409 427 384 410 1,135 448.9 466.2 480.2
Net margin 11.58% 11.79% 10.69% 11.02% 25.27% 11.3% 11.4% 11.41%
EPS 2 0.2230 0.2320 0.2070 0.2190 0.6060 0.2460 0.2572 0.2648
Free Cash Flow 1 362 510 523 296 489 376.8 435.9 488.6
FCF margin 10.25% 14.08% 14.56% 7.96% 10.89% 9.48% 10.65% 11.61%
FCF Conversion (EBITDA) 33.21% 45.82% 46.53% 25.74% 40.99% 30.57% 34.29% 37.2%
FCF Conversion (Net income) 88.51% 119.44% 136.2% 72.2% 43.08% 83.94% 93.49% 101.76%
Dividend per Share 2 0.2500 0.2500 0.2500 0.2500 0.2700 0.2767 0.2811 0.2900
Announcement Date 20/08/19 25/08/20 17/08/21 23/08/22 17/08/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 1,779 1,824 1,799 1,796 1,797 1,890 1,830 1,950 2,541 1,976 2,008
EBITDA 1 601 - - - 622 538 - 510 - 530 -
EBIT 1 - - - - 362 281 349 262 427 279 439.9
Operating Margin - - - - 20.14% 14.87% 19.07% 13.44% 16.8% 14.12% 21.91%
Earnings before Tax (EBT) - - - - 340 - - - - - -
Net income 1 - - - - 236 179 - 837 - 157 -
Net margin - - - - 13.13% 9.47% - 42.92% - 7.95% -
EPS 2 - - - - - 0.0960 - 0.4460 - 0.0860 -
Dividend per Share 2 0.1250 - - - - 0.1250 - 0.1350 - 0.1375 0.1400
Announcement Date 20/08/19 19/02/20 25/08/20 23/02/21 17/08/21 22/02/22 23/08/22 22/02/23 17/08/23 27/02/24 -
1NZD in Million2NZD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,347 1,419 1,331 1,522 1,039 1,534 1,655 1,750
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.236 x 1.275 x 1.184 x 1.323 x 0.8709 x 1.244 x 1.302 x 1.332 x
Free Cash Flow 1 362 510 523 296 489 377 436 489
ROE (net income / shareholders' equity) 27.7% 28.9% 25.8% 27.6% 25.4% 24.9% 27.8% 29.9%
ROA (Net income/ Total Assets) 10.3% 10.1% 9.07% 9.89% 9.99% 13.1% 13.6% 14%
Assets 1 3,970 4,221 4,236 4,144 11,364 3,424 3,426 3,440
Book Value Per Share 2 0.8000 0.8100 0.8000 0.7900 1.050 0.9400 0.9100 0.8900
Cash Flow per Share 2 0.4200 0.4900 0.4600 0.4500 0.4300 0.5200 0.5300 0.5500
Capex 1 415 393 335 410 515 517 499 488
Capex / Sales 11.75% 10.85% 9.32% 11.02% 11.47% 13.02% 12.2% 11.6%
Announcement Date 20/08/19 25/08/20 17/08/21 23/08/22 17/08/23 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
4.65 NZD
Average target price
5.232 NZD
Spread / Average Target
+12.53%
Consensus
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