Financials
NZX Listed Companies
Financials: revenue, EBITDA and net profit
Each company’s latest year whose income-statement figures passed the reconciliation checks behind the How They Make Money charts. Years differ between companies, so the year is shown beside every figure. Figures are extracted automatically from filed annual reports; check against the report.
Latest charted year by company (5 of 5 charted)
| Company | Revenue | EBITDA | EBITDA margin | Net profit | Net margin |
|---|---|---|---|---|---|
| NZXNZX Limited | $128.9m FY25 | $51.7m FY25 | 40.1% FY25 | $21.5m FY25 | 16.7% FY25 |
| LICLivestock Improvement Corporation Limited | $295.0m FY25 | $76.9m FY25 | 26.1% FY25 | $30.6m FY25 | 10.4% FY25 |
| MFBMy Food Bag Group Limited | $162.1m FY25 | $16.1m FY25 | 9.9% FY25 | $6.3m FY25 | 3.9% FY25 |
| AOFAoFrio Limited | $58.8m FY18 | $2.5m FY18 | 4.2% FY18 | -$713k FY18 | -1.2% FY18 |
| ALFAllied Farmers Limited | $30.6m FY25 | $5.2m FY25 | 16.9% FY25 | $2.9m FY25 | 9.4% FY25 |
- MFB: newer FY2026 on file, not charted (no EBITDA/EBIT split).
- AOF: newer FY2025 on file, not charted (operating loss).
- ALF: newer FY2026 on file, not charted (no EBITDA/EBIT split).
EBITDA is the figure stored from each statement (or EBIT plus depreciation where only those are stored); “—” means the year has EBIT but no EBITDA. Companies that headline an adjusted measure (EBITDAF, underlying EBITDA) can report a different number.
EBITDA margin across the sector, by year
One dot per company-year that passed the checks, from FY2017; the bar is the median of those companies for that year. Years not charted are left out, not counted as zero.
one company-year sector median (needs two or more companies).
| Company | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| NZX | EBIT only | n/c: not from annual report | 32.3% | 43.9% | n/c: not from annual report | 36.6% | 35.9% | 39.1% | 40.1% |
| LIC | 18.2% | n/c: not from annual report | n/c: not from annual report | n/c: not from annual report | n/c: not from annual report | 13.4% | 21.4% | 18.7% | 26.1% |
| MFB | no statement | no statement | no statement | n/c: not from annual report | 15.2% | 17.5% | 10.3% | 9.9% | 9.9% |
| AOF | n/c: operating loss | 4.2% | n/c: not from annual report | n/c: operating loss | n/c: not from annual report | n/c: not from annual report | n/c: not from annual report | n/c: operating loss | n/c: operating loss |
| ALF | n/c: not from annual report | 16.0% | 13.4% | 9.4% | 15.3% | 20.3% | 18.3% | 15.4% | 16.9% |
| Median (n) | — (1) | 10.1% (2) | 22.9% (2) | 26.6% (2) | 15.2% (2) | 18.9% (4) | 19.9% (4) | 17.1% (4) | 21.5% (4) |
n/c = on file but not charted, with the reason (the full reason is on the company’s page). EBIT only = charted, but the year has no EBITDA to place here. Years are grouped by financial-year label; year-end months differ between companies.
Banks, insurers, funds and property trusts
EBITDA isn't a meaningful measure for banks, insurers and property trusts; sector-specific measures (net interest margin, combined ratio, FFO) are not yet held. The same applies to funds and investment companies. Revenue and net profit are shown where the year passed the checks.
| Company | Type | Revenue | Net profit |
|---|---|---|---|
| WBCWestpac Banking Corporation | banks and finance companies | $21.6b FY24 | $7.0b FY24 |
| ANZANZ Group Holdings Limited | banks and finance companies | $20.5b FY24 | $6.6b FY24 |
| AFIAustralian Foundation Investment Company Limited | funds and investment companies | $328.1m FY25 | $285.0m FY25 |
| BITThe Bankers Investment Trust PLC | funds and investment companies | $30.5m FY19 | $7.6m FY19 |
| FCTF&C INVESTMENT TRUST PLC | funds and investment companies | Not charted: FY2025 (newest on file): After placing every reported line, $589.2m (520% of revenue) is left unexplained between EBIT and net profit. A residual that large usually means a line was mis-extracted, so the chart is not drawn. | |
| TEMTempleton Emerging Markets Investment Trust PLC | funds and investment companies | Not charted: FY2026 (newest on file): Neither EBITDA nor EBIT is recorded, so operating profit cannot be placed. | |
| HFLHenderson Far East Income Limited | funds and investment companies | $45.9m FY24 | $39.3m FY24 |
| HGHHeartland Group Holdings Limited | banks and finance companies | $319.1m FY25 | $38.8m FY25 |
| TWRTower Limited | insurers | $594.3m FY25 | $83.7m FY25 |
| KFLKingfish Limited | funds and investment companies | Not charted: FY2025 (newest on file): Neither EBITDA nor EBIT is recorded, so operating profit cannot be placed. | |
| BRMBarramundi Limited | funds and investment companies | Not charted: FY2025 (newest on file): Neither EBITDA nor EBIT is recorded, so operating profit cannot be placed. | |
| MLNMarlin Global Limited | funds and investment companies | Not charted: FY2025 (newest on file): Neither EBITDA nor EBIT is recorded, so operating profit cannot be placed. | |
| CO2Carbon Fund | funds and investment companies | Not charted: no annual statement on file | |
| GENGeneral Capital Limited | banks and finance companies | $22.6m FY25 | $2.8m FY25 |
| BIFBooster Innovation Fund | funds and investment companies | Not charted: FY2025 (newest on file): Revenue is not recorded for this year. | |
| AFCAFC Group Holdings Limited | banks and finance companies | $1.3m FY24 | $54k FY24 |
- WBC: newer FY2025 on file, not charted (unexplained residual).
- ANZ: newer FY2025 on file, not charted (unexplained residual).
- BIT: newer FY2023 on file, not charted (profit exceeds revenue).
- HFL: newer FY2025 on file, not charted (profit exceeds revenue).
- AFC: newer FY2025 on file, not charted (operating loss).
Classification as on each company’s Financials tab. “Revenue” is the line stored as revenue; for a bank or insurer what it covers varies between statements, so check the report.
All Companies in Financials
Frequently Asked Questions About NZX Financials Sector
What companies are in the NZX Financials sector?
The NZX Financials sector includes 22 listed companies with a combined market capitalization of approximately $325.3 billion. These companies represent New Zealand's publicly-traded businesses operating in financials industries.
How is the Financials sector performing?
The NZX Financials sector has an average 1-year return of +5.8%, based on the stock performance of companies within the sector. Individual company performance varies, and investors should review specific company metrics, governance scores, and financial statements before making investment decisions.
How do I compare companies in the Financials sector?
You can compare Financials companies on NZXplorer by reviewing key metrics including market capitalization, 1-year stock returns, governance risk scores (GRS), board independence, shareholder support levels, and financial performance. Each company page provides comprehensive governance data, director information, substantial shareholder analysis, and ESG metrics to help you make informed investment decisions.
What governance information is available for Financials companies?
NZXplorer provides comprehensive governance data for all NZX-listed Financials companies including: board composition and independence levels, director biographies and tenure, committee structures, director and executive remuneration, substantial shareholder holdings, AGM voting results and shareholder support scores, insider trading activity, and Governance Risk Scores (GRS v2.0) that evaluate executive remuneration, board structure, shareholder rights, board effectiveness, audit quality, and remuneration disclosure.
What is market capitalization and why does it matter?
Market capitalization (market cap) is the total value of a company's outstanding shares, calculated by multiplying the share price by the number of shares. It represents what the market believes the company is worth. The Financials sector has a combined market cap of $325.3 billion across 22 companies. Market cap helps investors understand company size and classify stocks as large-cap (typically >$1B), mid-cap ($300M-$1B), or small-cap (<$300M), with each category having different risk-return profiles and liquidity characteristics.
How can I track substantial shareholders in Financials companies?
NZXplorer tracks all substantial shareholder disclosures for Financials companies as required by NZX rules. Substantial shareholders are entities holding 5% or more of voting rights and must disclose their holdings publicly. You can view current substantial shareholders, their voting percentages, recent changes in holdings, and historical disclosure dates on each company's page. This information helps you understand ownership concentration, potential control dynamics, and significant stakeholder interests in Financials companies.