NZX Governance Explorer

How Third Age Health Services Limited makes money

Where TAH’s revenue went in FY2025: operating costs, depreciation, interest and tax, and what was left as net profit. Built from the income statement in the filed annual report, and drawn only when the figures reconcile with each other. TAH company profile

How Third Age Health Services Limited makes money — FY2025

Revenue $19.1m · EBITDA $4.7m (24.5% of revenue) · Net profit $2.5m (13.0% of revenue) · Financial year ending March (from the issuer record)

Third Age Health Services Limited (TAH) FY2025: where revenue of $19.1m wentAged medical care services → Revenue: $11.8mRevenue → EBITDA: $4.7mRevenue → Operating costs (net of other income): $14.4mEBITDA → EBIT: $3.8mEBITDA → Depreciation & amortisation: $841kEBIT → Net profit: $2.5mEBIT → Interest: $337kEBIT → Income tax: $1.0mGeneral practice medical services → Revenue: $7.3mAged medical care services: $11.8mAged medical careservices$11.8mGeneral practice medical services: $7.3mGeneral practice medicalservices$7.3mRevenue: $19.1mRevenue$19.1mEBITDA: $4.7mEBITDA$4.7mOperating costs (net of other income): $14.4m (derived)Operating costs (net ofother income)$14.4m · derivedEBIT: $3.8m (derived)EBIT$3.8m · derivedDepreciation & amortisation: $841kDepreciation &amortisation$841kNet profit: $2.5mNet profit$2.5mInterest: $337kInterest$337kIncome tax: $1.0mIncome tax$1.0m

Band widths are proportional to NZD amounts. Dashed outlines mark derived figures; the hatched node is a balancing item (net profit less every line above it).

Third Age Health Services Limited FY2025 figures used in the chart
FY2025AmountStatusNote
Revenue$19.1mReported
Operating costs (net of other income)−$14.4mDerived *Reported operating expenses $5.3m do not reconcile; not used.
EBITDA$4.7mReported
Depreciation & amortisation−$841kReported
EBIT$3.8mDerived *Reported EBIT $3.7m does not reconcile to EBITDA − D&A.
Interest (net finance costs)−$337kReported
Income tax−$1.0mReported
Other items (net gain)+$0Balancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$2.5mReported
  • * ebit: $3.8m = EBITDA − D&A (reported EBIT $3.7m differs; the gap falls into Other items)
  • * operating costs: $14.4m = Revenue − EBITDA
Checks run on these figures (6)
  • Passed: Revenue is within the scale of a column stored in thousands.
  • Passed: Revenue in the income statement ($19.1m) vs the summary table ($19.1m): agree within 2%.
  • Not met: EBITDA − D&A = $3.8m vs reported EBIT $3.7m: does not reconcile.
  • Not met: Reported operating expenses ($5.3m) leave $13.8m, not EBITDA of $4.7m (gap $9.1m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $0m is 0.0% of revenue (limit 25%).
  • Passed: Operating segments sum to $19.1m, within 0.0% of revenue.

Figures extracted automatically from the annual report; check against the report. NZD thousands as stored, shown in millions. Source: annual_report_pdf · method: claude_haiku_pdf · extracted 7 March 2026.

Annual report: Third Age Health Services Limited Annual Report (PDF, NZX)

Year-on-year EBITDA bridge (FY2024 → FY2025)

Bridge not available: there is no FY2024 annual statement on file to compare with.

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (4 of 6 years from FY2021). The shaded line is the median of 13 other listed Consumer Discretionary operating companies, using each one’s same financial year where it passed the checks; the number of companies in each median is in the table. Gaps are years that were not charted.

EBITDA margin
TAH ebitda margin by financial year, with peer median0%20%40%FY21FY22FY23FY24FY25FY26FY2021: TAH 30.4%; peer median 11.9% (9)FY2022: TAH 29.3%; peer median 10.3% (6)FY2023: not charted — no annual statement on fileFY2024: not charted — no annual statement on fileFY2025: TAH 24.5%; peer median 13.1% (7)FY2026: TAH 25.6%; peer median 16.5% (5)
EBIT margin
TAH ebit margin by financial year, with peer median0%20%40%FY21FY22FY23FY24FY25FY26FY2021: TAH 28.3%; peer median 8.7% (10)FY2022: TAH 26.8%; peer median 8.6% (9)FY2023: not charted — no annual statement on fileFY2024: not charted — no annual statement on fileFY2025: TAH 20.1%; peer median 7.2% (7)FY2026: TAH 20.8%; peer median 11.5% (6)
Net margin
TAH net margin by financial year, with peer median0%20%40%FY21FY22FY23FY24FY25FY26FY2021: TAH 19.0%; peer median 4.8% (10)FY2022: TAH 19.9%; peer median 3.5% (9)FY2023: not charted — no annual statement on fileFY2024: not charted — no annual statement on fileFY2025: TAH 13.0%; peer median 1.9% (7)FY2026: TAH 13.7%; peer median 6.4% (6)

TAH   peer median   below the axis: year not charted (reason in the table). All panels share one scale.

TAH margins by year with peer medians
YearEBITDA margin: TAH · peer median (n)EBIT margin: TAH · peer median (n)Net margin: TAH · peer median (n)Note
FY202130.4%11.9% (9)28.3%8.7% (10)19.0%4.8% (10)
FY202229.3%10.3% (6)26.8%8.6% (9)19.9%3.5% (9)
FY2023—13.8% (6)—12.2% (8)—7.9% (8)Not charted: no annual statement on file
FY2024—13.3% (6)—8.4% (8)—4.6% (8)Not charted: no annual statement on file
FY202524.5%13.1% (7)20.1%7.2% (7)13.0%1.9% (7)
FY202625.6%16.5% (5)20.8%11.5% (6)13.7%6.4% (6)

Peer medians use only peer-years that passed the same checks; a median of fewer than two companies is not shown. Years are grouped by financial-year label, and year-end months differ between companies.

Not yet available: where the cash goes (operating cash flow to capex, dividends and debt) and underlying versus reported earnings. The figures they need are not yet validated.

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Data sourced from NZX company annual reports (income statements). 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.

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