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Annual Report Quality Scores

Transparency and disclosure quality scores for NZX company annual reports, based on 8 dimensions of publicly available data. Higher scores suggest more comprehensive disclosure based on data available in our database.

Companies Scored

131

of 131 issuers

Exemplary

score 85+

Average Score

across all companies

Highest-Scoring Sector

Communication Services

avg 72 (4 companies)

Top 10 — Highest Transparency Scores

#	Ticker	Company	Sector	Score	Rating	Strengths	Gaps
1	MCK	Millennium & Copthorne Hotels New Zealand Limited	Consumer Discretionary	82	Strong	Financial Disclosure: Exemplary (100/100); ESG Reporting: Exemplary (100/100)	Governance Disclosure: Governance remuneration disclosure score: 2/100
2	PCT	Precinct Properties New Zealand Limited	Real Estate	81	Strong	Segment Reporting: Exemplary (100/100); ESG Reporting: Exemplary (100/100)	Governance Disclosure: Governance remuneration disclosure score: 2/100
3	AIA	Auckland International Airport Limited	Industrials	80

Bottom 10 — Lowest Transparency Scores

Lower scores may reflect limited data in our database rather than poor actual disclosure. Some companies may disclose extensively in formats we have not yet extracted.

#	Ticker	Company	Sector	Score	Rating	Strengths	Gaps
1	LOD	Lodestone Energy Limited	Utilities	6	Weak	—	Financial Disclosure: No financial data available; Segment Reporting: No segment reporting data found
2	TCM	Taiko Critical Minerals Limited	Materials	19	Weak	—	Director Bio Quality: 1/5 directors have biographies, avg richness 20/100; Segment Reporting: No segment reporting data found
3	CO2	Carbon Fund	Financials	20

All Companies (131)

Ticker	Company	Sector	Score	Rating	Fin	Seg	Gov	ESG	Bio	Mtg	Ern	Com	Sector %ile	Coverage
MCK	Millennium & Copthorne Hotels New Zealand Limited	Consumer Discretionary	82	Strong	100	85	2

Sector Averages

Sector	Companies	Avg Score
Communication Services	4	72
Consumer Discretionary	15	67
Real Estate	15	67
Consumer Staples	14	67
Industrials	23	65
Energy	1	64

Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

Methodology

Each company is scored across 8 dimensions, each rated 0-100 and combined into a weighted composite score. Scores reflect the breadth of data available in our database — they indicate how much a company has disclosed in ways we can systematically extract and verify, not necessarily the absolute quality of the report itself.

Financial Disclosure Depth (15%)

Completeness of financial data across income statements, balance sheets, and cash flow statements. More fields populated suggests more comprehensive financial reporting.

Segment Reporting (10%)

Number of operating segments reported, indicating IFRS 8 compliance depth. Companies with diversified operations and clear segment breakdowns score higher.

Governance Disclosure (15%)

Remuneration disclosure quality from our Governance Risk Score, covering individual fee disclosure, CEO breakdown, incentive hurdles, and committee independence.

ESG Reporting (15%)

Breadth of environmental, social, and governance data reported across emissions, diversity, and workplace safety pillars.

Director Bio Quality (10%)

Richness of director information including biography length, education, university, professional qualifications, and career history detail.

Board Meeting Transparency (10%)

Whether the company discloses individual director attendance at board meetings. Many companies do not disclose this data.

Earnings Presentation Quality (10%)

Quality of earnings communications including Language Intelligence Score, forward-looking statement count, and number of presenters.

Stakeholder Communication (15%)

Volume and regularity of disclosures including total announcements, earnings results filings, and market-moving communications.

Rating scale: Exemplary (85+), Strong (70-84), Good (55-69), Adequate (40-54), Weak (<40). Lower scores may indicate limited extraction coverage rather than poor actual disclosure. This tool measures what we can see in structured data — not the full content of each annual report.

What Next?

Continue your analysis with these related reports

Remuneration Disclosure Compliance

Score NZX companies against 8 NZX Corporate Governance Code v1.7 remuneration disclosure criteria. Tracks individual fee disclosure, CEO compensation breakdown, performance hurdles, committee independence, and AGM say-on-pay votes.

ESG Disclosure Gap Analysis

Compare NZX companies' ESG claims against measured outcomes. Identifies potential gaps between sustainability narrative and actual emissions, diversity, and safety data.

Disclosure Language Analysis

Related Insights

ESG Disclosure Quality Benchmark

Composite ESG disclosure quality score combining claim-evidence alignment, disclosure transparency, and ESG data coverage. Sector benchmarked with percentile ranking.

Disclosure Language Analysis

Track how NZX companies' disclosure language evolves over time. Detect shifts in hedging patterns, sentiment volatility, buried risk frequency, and forward-looking statement density.

Remuneration Disclosure Compliance