Comparing Language Intelligence Scores between board chairs and CEOs from AGM speeches
Chair-CEO pairs where LIS gap exceeds 10 points, which may suggest differing views on company outlook
Chair-CEO pairs with LIS gap under 5 points, indicating consistent messaging
This analysis compares the Language Intelligence Score (LIS) of board chairs and CEOs from their AGM speeches at the same company in the same fiscal year. The LIS is a composite score (0-100) measuring sentiment, conviction, transparency, specificity, and forward-looking language.
What divergence may indicate: When the chair and CEO communicate with materially different levels of conviction, transparency, or sentiment, it may suggest differing perspectives on company performance or outlook. A widening gap over multiple years could indicate governance tension, while consistent alignment suggests a unified leadership message.
Thresholds:LIS gap under 10 points is classified as "Aligned", 10-20 as "Moderate Divergence", and above 20 as "Strong Divergence". These thresholds are analytical benchmarks and do not imply any judgment about the quality of governance.
NZ Governance Power Index — top directors, board interlocks, auditor concentration, and multi-board analysis.
Interactive force-directed visualization of board interlocks across NZX, charities, iwi, and public sector.
Auditor market concentration, tenure analysis, and director-auditor independence.
Data sourced from NZX AGM speech analysis. 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.
Last updated: 30 March 2026.
| 0.68 |
| Strong Divergence |
| BLT BLIS Technologies Limited | 2020 | 23 | 75 | 52 | 0.68 | Strong Divergence |
| SKO Serko Limited | 2019 | 23 | 75 | 52 | 0.72 | Strong Divergence |
| IFT Infratil Limited | 2023 | 23 | 74 | 51 | 0.68 | Strong Divergence |
| SML Synlait Milk Limited | 2019 | 23 | 74 | 51 | 0.68 | Strong Divergence |
| MFB My Food Bag Group Limited | 2022 | 74 | 23 | 51 | 0.68 | Strong Divergence |
| CNU Chorus Limited | 2024 | 74 | 23 | 51 | 0.68 | Strong Divergence |
| MCY Mercury NZ Limited | 2022 | 74 | 23 | 51 | 0.68 | Strong Divergence |
| VCT Vector Limited | 2021 | 23 | 72 | 49 | 0.65 | Strong Divergence |
| STU Steel & Tube Holdings Limited | 2023 | 23 | 72 | 49 | 0.58 | Strong Divergence |
| AFT AFT Pharmaceuticals Limited | 2021 | 23 | 72 | 49 | 0.62 | Strong Divergence |
| PYS PaySauce Limited | 2020 | 72 | 23 | 49 | 0.68 | Strong Divergence |
| SML Synlait Milk Limited | 2024 | 23 | 70 | 47 | 0.62 | Strong Divergence |
| BRW Bremworth Limited | 2019 | 23 | 70 | 47 | 0.58 | Strong Divergence |
| STU Steel & Tube Holdings Limited | 2025 | 23 | 69 | 46 | 0.35 | Strong Divergence |
| VCT Vector Limited | 2022 | 69 | 23 | 46 | 0.58 | Strong Divergence |
| GNE Genesis Energy Limited | 2024 | 69 | 23 | 46 | 0.52 | Strong Divergence |
| FRW Freightways Group Limited | 2023 | 23 | 67 | 44 | 0.38 | Strong Divergence |
| AIR Air New Zealand | 2020 | 23 | 62 | 39 | 0.15 | Strong Divergence |
| PCT Precinct Properties New Zealand Limited | 2025 | 44 | 76 | 32 | 0.42 | Strong Divergence |
| AIR Air New Zealand | 2019 | 60 | 75 | 15 | 0.19 | Moderate Divergence |
| TRU TRUSCREEN GROUP LIMITED | 2024 | 62 | 76 | 14 | 0.33 | Moderate Divergence |
| TRU TRUSCREEN GROUP LIMITED | 2023 | 61 | 73 | 12 | 0.33 | Moderate Divergence |
| GXH Green Cross Health Limited | 2020 | 61 | 72 | 11 | 0.13 | Moderate Divergence |
| 73 |
| 73 |
| 0 |
| Aligned |
| SKL Skellerup Holdings Limited | 2024 | 23 | 23 | 0 | Aligned |
| FCG Fonterra Co-operative Group Limited | 2025 | 73 | 73 | 0 | Aligned |
| SKT Sky Network Television Limited | 2024 | 23 | 23 | 0 | Aligned |
| SUM Summerset Group Holdings Limited | 2024 | 74 | 74 | 0 | Aligned |
| ANZ ANZ Group Holdings Limited | 2023 | 23 | 23 | 0 | Aligned |
| ANZ ANZ Group Holdings Limited | 2024 | 23 | 23 | 0 | Aligned |
| RBD Restaurant Brands New Zealand Limited | 2023 | 68 | 68 | 0 | Aligned |
| RBD Restaurant Brands New Zealand Limited | 2024 | 67 | 67 | 0 | Aligned |
| GMT Goodman Property Trust | 2023 | 74 | 74 | 0 | Aligned |
| OCA Oceania Healthcare Limited | 2023 | 23 | 23 | 0 | Aligned |
| OCA Oceania Healthcare Limited | 2024 | 23 | 23 | 0 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2023 | 74 | 74 | 0 | Aligned |
| NPH Napier Port Holdings Limited | 2021 | 73 | 73 | 0 | Aligned |
| SUM Summerset Group Holdings Limited | 2020 | 63 | 63 | 0 | Aligned |
| VCT Vector Limited | 2025 | 69 | 69 | 0 | Aligned |
| SUM Summerset Group Holdings Limited | 2019 | 74 | 74 | 0 | Aligned |
| SEK Seeka Limited | 2020 | 67 | 67 | 0 | Aligned |
| SEK Seeka Limited | 2019 | 74 | 74 | 0 | Aligned |
| HLG Hallenstein Glasson Holdings Limited | 2019 | 69 | 69 | 0 | Aligned |
| POT Port of Tauranga Limited | 2019 | 74 | 74 | 0 | Aligned |
| AIA Auckland International Airport Limited | 2019 | 75 | 75 | 0 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2022 | 75 | 75 | 0 | Aligned |
| GTK Gentrack Group Limited | 2022 | 75 | 75 | 0 | Aligned |
| RAK Rakon Limited | 2020 | 69 | 69 | 0 | Aligned |
| SPK Spark New Zealand Limited | 2019 | 75 | 75 | 0 | Aligned |
| SKC SkyCity Entertainment Group Limited | 2021 | 64 | 64 | 0 | Aligned |
| SKC SkyCity Entertainment Group Limited | 2019 | 74 | 74 | 0 | Aligned |
| SKO Serko Limited | 2022 | 70 | 70 | 0 | Aligned |
| BFG Burger Fuel Group Limited | 2022 | 58 | 58 | 0 | Aligned |
| BFG Burger Fuel Group Limited | 2021 | 59 | 59 | 0 | Aligned |
| AGL Accordant Group Limited | 2019 | 65 | 65 | 0 | Aligned |
| VNT Ventia Services Group Limited | 2022 | 74 | 74 | 0 | Aligned |
| MEL Meridian Energy Limited | 2024 | 72 | 72 | 0 | Aligned |
| MCY Mercury NZ Limited | 2025 | 70 | 70 | 0 | Aligned |
| MCY Mercury NZ Limited | 2024 | 74 | 74 | 0 | Aligned |
| FBU Fletcher Building | 2025 | 64 | 64 | 0 | Aligned |
| GNE Genesis Energy Limited | 2023 | 75 | 75 | 0 | Aligned |
| PCT Precinct Properties New Zealand Limited | 2023 | 74 | 74 | 0 | Aligned |
| CEN Contact Energy Limited | 2022 | 74 | 74 | 0 | Aligned |
| CEN Contact Energy Limited | 2021 | 73 | 73 | 0 | Aligned |
| RYM Ryman Healthcare Limited | 2020 | 72 | 72 | 0 | Aligned |
| DOW Downer EDI Limited | 2025 | 73 | 74 | 1 | Aligned |
| VSL Vulcan Steel Limited | 2024 | 65 | 66 | 1 | Aligned |
| TAH Third Age Health Services Limited | 2024 | 76 | 75 | 1 | Aligned |
| TAH Third Age Health Services Limited | 2025 | 74 | 73 | 1 | Aligned |
| NZM NZME Limited | 2025 | 70 | 71 | 1 | Aligned |
| NZX NZX Limited | 2023 | 71 | 72 | 1 | Aligned |
| THL Tourism Holdings Limited | 2024 | 61 | 62 | 1 | Aligned |
| NPH Napier Port Holdings Limited | 2023 | 70 | 71 | 1 | Aligned |
| NPH Napier Port Holdings Limited | 2024 | 75 | 74 | 1 | Aligned |
| RAK Rakon Limited | 2023 | 72 | 73 | 1 | Aligned |
| VNT Ventia Services Group Limited | 2024 | 75 | 76 | 1 | Aligned |
| WBC Westpac Banking Corporation | 2023 | 70 | 71 | 1 | Aligned |
| WBC Westpac Banking Corporation | 2025 | 74 | 73 | 1 | Aligned |
| SUM Summerset Group Holdings Limited | 2022 | 74 | 73 | 1 | Aligned |
| MFB My Food Bag Group Limited | 2024 | 71 | 72 | 1 | Aligned |
| MFB My Food Bag Group Limited | 2023 | 69 | 70 | 1 | Aligned |
| ERD EROAD | 2024 | 74 | 73 | 1 | Aligned |
| ERD EROAD | 2020 | 71 | 70 | 1 | Aligned |
| ERD EROAD | 2019 | 74 | 75 | 1 | Aligned |
| VCT Vector Limited | 2023 | 71 | 70 | 1 | Aligned |
| NPH Napier Port Holdings Limited | 2025 | 74 | 73 | 1 | Aligned |
| SEK Seeka Limited | 2021 | 75 | 74 | 1 | Aligned |
| VGL Vista Group International Limited | 2023 | 74 | 75 | 1 | Aligned |
| VGL Vista Group International Limited | 2025 | 72 | 73 | 1 | Aligned |
| AIA Auckland International Airport Limited | 2023 | 75 | 76 | 1 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2024 | 71 | 70 | 1 | Aligned |
| DGL Delegat Group Limited | 2025 | 72 | 73 | 1 | Aligned |
| WHS The Warehouse Group Limited | 2024 | 64 | 65 | 1 | Aligned |
| TRA Turners Automotive Group | 2024 | 75 | 74 | 1 | Aligned |
| GMT Goodman Property Trust | 2021 | 73 | 74 | 1 | Aligned |
| SML Synlait Milk Limited | 2020 | 70 | 71 | 1 | Aligned |
| GEN General Capital Limited | 2025 | 72 | 73 | 1 | Aligned |
| DGL Delegat Group Limited | 2020 | 76 | 77 | 1 | Aligned |
| WHS The Warehouse Group Limited | 2022 | 71 | 72 | 1 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2021 | 75 | 76 | 1 | Aligned |
| ATM The a2 Milk Company Limited | 2022 | 73 | 72 | 1 | Aligned |
| ATM The a2 Milk Company Limited | 2019 | 74 | 75 | 1 | Aligned |
| KPG Kiwi Property | 2020 | 67 | 68 | 1 | Aligned |
| SKT Sky Network Television Limited | 2022 | 70 | 71 | 1 | Aligned |
| SKT Sky Network Television Limited | 2019 | 70 | 71 | 1 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2020 | 70 | 71 | 1 | Aligned |
| THL Tourism Holdings Limited | 2021 | 66 | 67 | 1 | Aligned |
| NZX NZX Limited | 2021 | 75 | 76 | 1 | Aligned |
| THL Tourism Holdings Limited | 2019 | 67 | 68 | 1 | Aligned |
| POT Port of Tauranga Limited | 2020 | 74 | 75 | 1 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2020 | 74 | 75 | 1 | Aligned |
| NZX NZX Limited | 2020 | 68 | 69 | 1 | Aligned |
| NZX NZX Limited | 2019 | 75 | 76 | 1 | Aligned |
| STU Steel & Tube Holdings Limited | 2019 | 68 | 67 | 1 | Aligned |
| SCL Scales Corporation Limited | 2022 | 69 | 70 | 1 | Aligned |
| TRA Turners Automotive Group | 2021 | 74 | 75 | 1 | Aligned |
| RAK Rakon Limited | 2022 | 75 | 76 | 1 | Aligned |
| VCT Vector Limited | 2019 | 72 | 73 | 1 | Aligned |
| VGL Vista Group International Limited | 2022 | 73 | 74 | 1 | Aligned |
| VGL Vista Group International Limited | 2020 | 70 | 71 | 1 | Aligned |
| IKE ikeGPS Group Limited | 2021 | 72 | 73 | 1 | Aligned |
| SKL Skellerup Holdings Limited | 2022 | 76 | 77 | 1 | Aligned |
| SKL Skellerup Holdings Limited | 2021 | 75 | 74 | 1 | Aligned |
| BRW Bremworth Limited | 2020 | 73 | 72 | 1 | Aligned |
| AGL Accordant Group Limited | 2021 | 70 | 71 | 1 | Aligned |
| SKO Serko Limited | 2021 | 69 | 70 | 1 | Aligned |
| BFG Burger Fuel Group Limited | 2019 | 64 | 65 | 1 | Aligned |
| AOF AoFrio Limited | 2020 | 68 | 69 | 1 | Aligned |
| PYS PaySauce Limited | 2021 | 69 | 68 | 1 | Aligned |
| PYS PaySauce Limited | 2019 | 73 | 74 | 1 | Aligned |
| CHI Channel Infrastructure NZ Limited | 2019 | 73 | 72 | 1 | Aligned |
| SVR Savor Limited | 2021 | 74 | 75 | 1 | Aligned |
| 2CC 2 Cheap Cars Group Limited | 2021 | 71 | 72 | 1 | Aligned |
| RUA Rua Bioscience Limited | 2021 | 73 | 74 | 1 | Aligned |
| RAD Radius Residential Care Limited | 2022 | 76 | 75 | 1 | Aligned |
| PFI Property for Industry Limited | 2020 | 70 | 71 | 1 | Aligned |
| PEB Pacific Edge Limited | 2019 | 69 | 70 | 1 | Aligned |
| MCY Mercury NZ Limited | 2023 | 74 | 73 | 1 | Aligned |
| CEN Contact Energy Limited | 2025 | 74 | 75 | 1 | Aligned |
| CNU Chorus Limited | 2025 | 75 | 74 | 1 | Aligned |
| GNE Genesis Energy Limited | 2025 | 75 | 76 | 1 | Aligned |
| MEL Meridian Energy Limited | 2020 | 70 | 71 | 1 | Aligned |
| ATM The a2 Milk Company Limited | 2024 | 71 | 73 | 2 | Aligned |
| FSF Fonterra Shareholders' Fund | 2025 | 77 | 75 | 2 | Aligned |
| ATM The a2 Milk Company Limited | 2025 | 74 | 76 | 2 | Aligned |
| SCL Scales Corporation Limited | 2025 | 75 | 77 | 2 | Aligned |
| SEK Seeka Limited | 2024 | 64 | 66 | 2 | Aligned |
| SUM Summerset Group Holdings Limited | 2023 | 72 | 70 | 2 | Aligned |
| NZM NZME Limited | 2023 | 68 | 70 | 2 | Aligned |
| VNT Ventia Services Group Limited | 2023 | 74 | 76 | 2 | Aligned |
| WBC Westpac Banking Corporation | 2024 | 72 | 74 | 2 | Aligned |
| TWL TradeWindow Holdings Limited | 2024 | 74 | 76 | 2 | Aligned |
| IFT Infratil Limited | 2024 | 73 | 75 | 2 | Aligned |
| BPG Black Pearl Group Limited | 2024 | 74 | 76 | 2 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2024 | 72 | 74 | 2 | Aligned |
| RYM Ryman Healthcare Limited | 2019 | 73 | 75 | 2 | Aligned |
| SUM Summerset Group Holdings Limited | 2021 | 74 | 76 | 2 | Aligned |
| GMT Goodman Property Trust | 2022 | 73 | 75 | 2 | Aligned |
| AIA Auckland International Airport Limited | 2024 | 75 | 77 | 2 | Aligned |
| AIA Auckland International Airport Limited | 2025 | 75 | 77 | 2 | Aligned |
| AFT AFT Pharmaceuticals Limited | 2025 | 71 | 73 | 2 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2025 | 69 | 67 | 2 | Aligned |
| DGL Delegat Group Limited | 2024 | 74 | 76 | 2 | Aligned |
| WHS The Warehouse Group Limited | 2025 | 71 | 69 | 2 | Aligned |
| TRA Turners Automotive Group | 2025 | 73 | 71 | 2 | Aligned |
| TRA Turners Automotive Group | 2023 | 73 | 71 | 2 | Aligned |
| HLG Hallenstein Glasson Holdings Limited | 2022 | 69 | 71 | 2 | Aligned |
| HLG Hallenstein Glasson Holdings Limited | 2021 | 71 | 69 | 2 | Aligned |
| GMT Goodman Property Trust | 2019 | 72 | 74 | 2 | Aligned |
| DGL Delegat Group Limited | 2021 | 75 | 73 | 2 | Aligned |
| DGL Delegat Group Limited | 2019 | 75 | 77 | 2 | Aligned |
| SML Synlait Milk Limited | 2022 | 74 | 76 | 2 | Aligned |
| NZM NZME Limited | 2022 | 73 | 75 | 2 | Aligned |
| ALF Allied Farmers Limited | 2021 | 69 | 67 | 2 | Aligned |
| SCT Scott Technology Limited | 2022 | 73 | 71 | 2 | Aligned |
| KPG Kiwi Property | 2021 | 70 | 68 | 2 | Aligned |
| NZM NZME Limited | 2021 | 73 | 75 | 2 | Aligned |
| FCG Fonterra Co-operative Group Limited | 2019 | 72 | 70 | 2 | Aligned |
| NZM NZME Limited | 2020 | 70 | 68 | 2 | Aligned |
| KPG Kiwi Property | 2019 | 75 | 77 | 2 | Aligned |
| FSF Fonterra Shareholders' Fund | 2019 | 72 | 70 | 2 | Aligned |
| CMO The Colonial Motor Company Limited | 2022 | 68 | 70 | 2 | Aligned |
| SPN South Port New Zealand Limited | 2021 | 75 | 77 | 2 | Aligned |
| THL Tourism Holdings Limited | 2022 | 70 | 72 | 2 | Aligned |
| EBO EBOS Group Limited | 2022 | 73 | 75 | 2 | Aligned |
| EBO EBOS Group Limited | 2019 | 72 | 74 | 2 | Aligned |
| AIA Auckland International Airport Limited | 2022 | 70 | 72 | 2 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2019 | 70 | 72 | 2 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2019 | 72 | 74 | 2 | Aligned |
| STU Steel & Tube Holdings Limited | 2021 | 73 | 71 | 2 | Aligned |
| TRA Turners Automotive Group | 2022 | 74 | 72 | 2 | Aligned |
| TRA Turners Automotive Group | 2019 | 76 | 74 | 2 | Aligned |
| MPG Metro Performance Glass | 2021 | 66 | 68 | 2 | Aligned |
| SCL Scales Corporation Limited | 2021 | 68 | 66 | 2 | Aligned |
| TRA Turners Automotive Group | 2020 | 72 | 74 | 2 | Aligned |
| BLT BLIS Technologies Limited | 2022 | 67 | 65 | 2 | Aligned |
| IKE ikeGPS Group Limited | 2019 | 73 | 75 | 2 | Aligned |
| MOV MOVE Logistics Group Limited | 2019 | 68 | 70 | 2 | Aligned |
| TWR Tower Limited | 2022 | 67 | 69 | 2 | Aligned |
| TWR Tower Limited | 2021 | 73 | 75 | 2 | Aligned |
| BGP Briscoe Group Limited | 2021 | 73 | 75 | 2 | Aligned |
| ARG Argosy Property Limited | 2022 | 71 | 73 | 2 | Aligned |
| PGW PGG Wrightson Limited | 2021 | 75 | 73 | 2 | Aligned |
| PGW PGG Wrightson Limited | 2019 | 71 | 69 | 2 | Aligned |
| CHI Channel Infrastructure NZ Limited | 2020 | 66 | 68 | 2 | Aligned |
| TAH Third Age Health Services Limited | 2021 | 73 | 71 | 2 | Aligned |
| MFT Mainfreight Limited | 2024 | 68 | 70 | 2 | Aligned |
| FBU Fletcher Building | 2023 | 69 | 71 | 2 | Aligned |
| MEL Meridian Energy Limited | 2022 | 74 | 76 | 2 | Aligned |
| MEL Meridian Energy Limited | 2019 | 76 | 74 | 2 | Aligned |
| MCY Mercury NZ Limited | 2019 | 73 | 75 | 2 | Aligned |
| DOW Downer EDI Limited | 2023 | 66 | 69 | 3 | Aligned |
| RBD Restaurant Brands New Zealand Limited | 2025 | 69 | 72 | 3 | Aligned |
| SCL Scales Corporation Limited | 2023 | 70 | 73 | 3 | Aligned |
| RUA Rua Bioscience Limited | 2024 | 71 | 74 | 3 | Aligned |
| SCL Scales Corporation Limited | 2024 | 70 | 73 | 3 | Aligned |
| NZX NZX Limited | 2025 | 74 | 77 | 3 | Aligned |
| SEK Seeka Limited | 2023 | 65 | 68 | 3 | Aligned |
| VNT Ventia Services Group Limited | 2025 | 73 | 76 | 3 | Aligned |
| BLT BLIS Technologies Limited | 2024 | 75 | 78 | 3 | Aligned |
| IFT Infratil Limited | 2025 | 68 | 71 | 3 | Aligned |
| KPG Kiwi Property | 2023 | 68 | 71 | 3 | Aligned |
| SAN Sanford Limited | 2023 | 70 | 73 | 3 | Aligned |
| RYM Ryman Healthcare Limited | 2023 | 63 | 66 | 3 | Aligned |
| STU Steel & Tube Holdings Limited | 2024 | 65 | 68 | 3 | Aligned |
| VCT Vector Limited | 2024 | 68 | 71 | 3 | Aligned |
| VGL Vista Group International Limited | 2024 | 74 | 77 | 3 | Aligned |
| EBO EBOS Group Limited | 2023 | 74 | 77 | 3 | Aligned |
| EBO EBOS Group Limited | 2025 | 72 | 75 | 3 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2023 | 69 | 72 | 3 | Aligned |
| SEK Seeka Limited | 2022 | 76 | 73 | 3 | Aligned |
| DGL Delegat Group Limited | 2023 | 73 | 76 | 3 | Aligned |
| HLG Hallenstein Glasson Holdings Limited | 2020 | 66 | 69 | 3 | Aligned |
| DGL Delegat Group Limited | 2022 | 73 | 76 | 3 | Aligned |
| ALF Allied Farmers Limited | 2020 | 69 | 66 | 3 | Aligned |
| FCG Fonterra Co-operative Group Limited | 2021 | 72 | 75 | 3 | Aligned |
| FSF Fonterra Shareholders' Fund | 2021 | 72 | 75 | 3 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2022 | 67 | 64 | 3 | Aligned |
| NZK New Zealand King Salmon Investments Limited | 2021 | 65 | 68 | 3 | Aligned |
| NZX NZX Limited | 2022 | 71 | 74 | 3 | Aligned |
| SPN South Port New Zealand Limited | 2022 | 71 | 68 | 3 | Aligned |
| EBO EBOS Group Limited | 2021 | 71 | 74 | 3 | Aligned |
| EBO EBOS Group Limited | 2020 | 74 | 77 | 3 | Aligned |
| AIA Auckland International Airport Limited | 2021 | 67 | 70 | 3 | Aligned |
| AIA Auckland International Airport Limited | 2020 | 64 | 67 | 3 | Aligned |
| STU Steel & Tube Holdings Limited | 2022 | 73 | 76 | 3 | Aligned |
| GEN General Capital Limited | 2019 | 73 | 70 | 3 | Aligned |
| GEN General Capital Limited | 2022 | 71 | 74 | 3 | Aligned |
| MPG Metro Performance Glass | 2020 | 66 | 69 | 3 | Aligned |
| RAK Rakon Limited | 2019 | 69 | 72 | 3 | Aligned |
| SCL Scales Corporation Limited | 2020 | 71 | 74 | 3 | Aligned |
| VCT Vector Limited | 2020 | 68 | 71 | 3 | Aligned |
| BLT BLIS Technologies Limited | 2021 | 74 | 71 | 3 | Aligned |
| VGL Vista Group International Limited | 2021 | 72 | 75 | 3 | Aligned |
| MEE Me Today Limited | 2020 | 72 | 75 | 3 | Aligned |
| BRW Bremworth Limited | 2022 | 73 | 76 | 3 | Aligned |
| SPK Spark New Zealand Limited | 2021 | 72 | 75 | 3 | Aligned |
| SPK Spark New Zealand Limited | 2020 | 68 | 71 | 3 | Aligned |
| SKC SkyCity Entertainment Group Limited | 2020 | 64 | 61 | 3 | Aligned |
| TWR Tower Limited | 2020 | 72 | 75 | 3 | Aligned |
| GXH Green Cross Health Limited | 2022 | 73 | 76 | 3 | Aligned |
| AOF AoFrio Limited | 2022 | 70 | 73 | 3 | Aligned |
| AIR Air New Zealand | 2022 | 71 | 74 | 3 | Aligned |
| KMD KMD Brands Limited | 2021 | 72 | 75 | 3 | Aligned |
| RUA Rua Bioscience Limited | 2022 | 70 | 73 | 3 | Aligned |
| MHJ Michael Hill International Limited | 2019 | 67 | 70 | 3 | Aligned |
| TAH Third Age Health Services Limited | 2022 | 72 | 75 | 3 | Aligned |
| VSL Vulcan Steel Limited | 2022 | 72 | 75 | 3 | Aligned |
| PFI Property for Industry Limited | 2021 | 76 | 79 | 3 | Aligned |
| MEL Meridian Energy Limited | 2023 | 71 | 74 | 3 | Aligned |
| CEN Contact Energy Limited | 2023 | 72 | 75 | 3 | Aligned |
| MEL Meridian Energy Limited | 2021 | 68 | 71 | 3 | Aligned |
| FRW Freightways Group Limited | 2025 | 73 | 70 | 3 | Aligned |
| PCT Precinct Properties New Zealand Limited | 2024 | 72 | 75 | 3 | Aligned |
| MCY Mercury NZ Limited | 2021 | 70 | 67 | 3 | Aligned |
| MCY Mercury NZ Limited | 2020 | 70 | 67 | 3 | Aligned |
| CEN Contact Energy Limited | 2020 | 69 | 72 | 3 | Aligned |
| DOW Downer EDI Limited | 2024 | 71 | 75 | 4 | Aligned |
| VSL Vulcan Steel Limited | 2023 | 66 | 70 | 4 | Aligned |
| SPN South Port New Zealand Limited | 2025 | 78 | 74 | 4 | Aligned |
| FCG Fonterra Co-operative Group Limited | 2024 | 70 | 74 | 4 | Aligned |
| RAK Rakon Limited | 2024 | 69 | 73 | 4 | Aligned |
| MPG Metro Performance Glass | 2025 | 70 | 74 | 4 | Aligned |
| SUM Summerset Group Holdings Limited | 2025 | 72 | 76 | 4 | Aligned |
| NZM NZME Limited | 2024 | 66 | 70 | 4 | Aligned |
| RYM Ryman Healthcare Limited | 2021 | 68 | 72 | 4 | Aligned |
| LIC Livestock Improvement Corporation Limited | 2025 | 73 | 77 | 4 | Aligned |
| ERD EROAD | 2023 | 70 | 74 | 4 | Aligned |
| EBO EBOS Group Limited | 2024 | 71 | 75 | 4 | Aligned |
| GMT Goodman Property Trust | 2020 | 69 | 73 | 4 | Aligned |
| SAN Sanford Limited | 2022 | 67 | 71 | 4 | Aligned |
| SCT Scott Technology Limited | 2021 | 73 | 77 | 4 | Aligned |
| ATM The a2 Milk Company Limited | 2021 | 60 | 64 | 4 | Aligned |
| KPG Kiwi Property | 2022 | 71 | 75 | 4 | Aligned |
| NZM NZME Limited | 2019 | 72 | 68 | 4 | Aligned |
| POT Port of Tauranga Limited | 2022 | 69 | 73 | 4 | Aligned |
| AFT AFT Pharmaceuticals Limited | 2019 | 75 | 71 | 4 | Aligned |
| DOW Downer EDI Limited | 2021 | 71 | 75 | 4 | Aligned |
| DOW Downer EDI Limited | 2022 | 66 | 70 | 4 | Aligned |
| MPG Metro Performance Glass | 2022 | 59 | 63 | 4 | Aligned |
| NPH Napier Port Holdings Limited | 2022 | 72 | 68 | 4 | Aligned |
| SCL Scales Corporation Limited | 2019 | 72 | 76 | 4 | Aligned |
| NPH Napier Port Holdings Limited | 2019 | 73 | 77 | 4 | Aligned |
| MPG Metro Performance Glass | 2019 | 65 | 69 | 4 | Aligned |
| AFT AFT Pharmaceuticals Limited | 2020 | 77 | 73 | 4 | Aligned |
| BLT BLIS Technologies Limited | 2019 | 73 | 77 | 4 | Aligned |
| VGL Vista Group International Limited | 2019 | 74 | 78 | 4 | Aligned |
| SCT Scott Technology Limited | 2019 | 67 | 71 | 4 | Aligned |
| BRW Bremworth Limited | 2021 | 71 | 75 | 4 | Aligned |
| MOV MOVE Logistics Group Limited | 2020 | 65 | 69 | 4 | Aligned |
| BFG Burger Fuel Group Limited | 2020 | 56 | 60 | 4 | Aligned |
| GXH Green Cross Health Limited | 2021 | 68 | 72 | 4 | Aligned |
| BGP Briscoe Group Limited | 2022 | 70 | 74 | 4 | Aligned |
| BGP Briscoe Group Limited | 2020 | 70 | 74 | 4 | Aligned |
| ARG Argosy Property Limited | 2020 | 73 | 69 | 4 | Aligned |
| TWL TradeWindow Holdings Limited | 2022 | 71 | 75 | 4 | Aligned |
| PFI Property for Industry Limited | 2022 | 73 | 77 | 4 | Aligned |
| PYS PaySauce Limited | 2022 | 72 | 76 | 4 | Aligned |
| SVR Savor Limited | 2019 | 74 | 70 | 4 | Aligned |
| MEL Meridian Energy Limited | 2025 | 67 | 71 | 4 | Aligned |
| CEN Contact Energy Limited | 2024 | 73 | 77 | 4 | Aligned |
| MFT Mainfreight Limited | 2022 | 72 | 76 | 4 | Aligned |
| CEN Contact Energy Limited | 2019 | 74 | 70 | 4 | Aligned |