Price Target Changed • 17h
Price target increased by 9.9% to AU$13.13 Up from AU$11.94, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of AU$12.58. Stock is up 18% over the past year. The company is forecast to post earnings per share of NZ$0.40 next year compared to a net loss per share of NZ$0.31 last year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AU$12.07, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 14x in the Diversified Financial industry in Australia. Total returns to shareholders of 43% over the past three years. Announcement • Apr 22
InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP completed the acquisition of an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT). InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP entered into a conditional agreement to acquire an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT) for approximately NZD 200 million on November 10, 2025. A cash consideration of NZD 200 million will be paid by InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP. As part of consideration, NZD 200 million is paid towards common equity of Aotearoa Towers Group Limited Partnership. The final amount is subject to the timing of settlement.
The transaction is subject to approval by Overseas Investment Office.
InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP completed the acquisition of an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT) in April 2026. Announcement • Apr 21
InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP completed the acquisition of an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT). InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP entered into a conditional agreement to acquire an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT) for approximately NZD 200 million on November 10, 2025. A cash consideration of NZD 200 million will be paid by InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP. As part of consideration, NZD 200 million is paid towards common equity of Aotearoa Towers Group Limited Partnership. The final amount is subject to the timing of settlement.
The transaction is subject to approval by Overseas Investment Office.
InfraRed Capital Partners Limited and Pantheon Ventures (UK) LLP completed the acquisition of an additional 20% stake in Aotearoa Towers Group Limited Partnership from Infratil Limited (NZSE:IFT) in April 2026. Announcement • Apr 10
Infratil Limited to Report Fiscal Year 2026 Results on May 26, 2026 Infratil Limited announced that they will report fiscal year 2026 results on May 26, 2026 Price Target Changed • Dec 24
Price target decreased by 8.9% to AU$11.85 Down from AU$13.00, the current price target is an average from 9 analysts. New target price is 18% above last closing price of AU$10.00. Stock is down 13% over the past year. The company is forecast to post earnings per share of NZ$0.25 next year compared to a net loss per share of NZ$0.31 last year. Price Target Changed • Nov 19
Price target decreased by 8.5% to AU$11.90 Down from AU$13.00, the current price target is an average from 9 analysts. New target price is 19% above last closing price of AU$9.98. Stock is down 9.9% over the past year. The company is forecast to post earnings per share of NZ$0.22 next year compared to a net loss per share of NZ$0.31 last year. Declared Dividend • Nov 15
First half dividend of NZ$0.08 announced Shareholders will receive a dividend of NZ$0.08. Ex-date: 26th November 2025 Payment date: 16th December 2025 Dividend yield will be 2.0%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 28% over the next 3 years. Since a fall of 19% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Nov 14
First half 2026 earnings released: EPS: NZ$0.33 (vs NZ$0.29 loss in 1H 2025) First half 2026 results: EPS: NZ$0.33 (up from NZ$0.29 loss in 1H 2025). Revenue: NZ$1.99b (up 35% from 1H 2025). Net income: NZ$325.5m (up NZ$569.5m from 1H 2025). Profit margin: 16% (up from net loss in 1H 2025). Revenue is expected to fall by 3.9% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Announcement • Nov 13
Infratil Limited Declares Cash Dividend on Ordinary Fully Paid Foreign Exempt NZX for the Six Months Ended September 30, 2025, Payable on December 16, 2025 Infratil Limited declared a cash dividend of NZD 0.08044118 per share of ordinary fully paid foreign exempt NZX for the six months ended September 30, 2025. Record Date is November 27, 2025. Ex Date is November 26, 2025. Payable on December 16, 2025. Announcement • Oct 09
Infratil Limited to Report First Half, 2026 Results on Nov 13, 2025 Infratil Limited announced that they will report first half, 2026 results on Nov 13, 2025 Recent Insider Transactions • Jul 15
CEO & Director recently bought AU$454k worth of stock On the 11th of July, Jason Boyes bought around 45k shares on-market at roughly AU$10.00 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$1.2m. Jason has been a buyer over the last 12 months, purchasing a net total of AU$9.6m worth in shares. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Anne Urlwin was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 04
Infratil Limited, Annual General Meeting, Aug 19, 2025 Infratil Limited, Annual General Meeting, Aug 19, 2025. Location: eden park, world cup lounge west, samsung south stand, 42 reimers avenue, kingsland, hybrid, auckland New Zealand Declared Dividend • May 31
Final dividend of NZ$0.13 announced Shareholders will receive a dividend of NZ$0.13. Ex-date: 11th June 2025 Payment date: 2nd July 2025 Dividend yield will be 2.0%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • May 28
Infratil Limited Announces Dividend On IFT-Ordinary Fully Paid Foreign Exempt NZX Security for the Period Six Months Ended March 31, 2025, Payable on July 2, 2025 Infratil Limited announced dividend on IFT-Ordinary Fully Paid Foreign Exempt NZX security of NZD 0.13250000 for the period six months ended March 31, 2025. Record Date: June 12, 2025. Ex Date: June 11, 2025. Payment Date: July 2, 2025. Reported Earnings • May 28
Full year 2025 earnings released: NZ$0.31 loss per share (vs NZ$1.06 profit in FY 2024) Full year 2025 results: NZ$0.31 loss per share (down from NZ$1.06 profit in FY 2024). Revenue: NZ$3.85b (up 19% from FY 2024). Net loss: NZ$286.3m (down 134% from profit in FY 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 7.1% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 30
CEO & Director recently bought AU$1.2m worth of stock On the 28th of April, Jason Boyes bought around 119k shares on-market at roughly AU$9.76 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$4.5m. Jason has been a buyer over the last 12 months, purchasing a net total of AU$6.8m worth in shares. Announcement • Apr 30
Infratil Limited to Report Fiscal Year 2025 Results on May 28, 2025 Infratil Limited announced that they will report fiscal year 2025 results on May 28, 2025 Recent Insider Transactions • Apr 17
CEO & Director recently bought AU$460k worth of stock On the 10th of April, Jason Boyes bought around 51k shares on-market at roughly AU$9.09 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$4.5m. Jason has been a buyer over the last 12 months, purchasing a net total of AU$5.0m worth in shares. Recent Insider Transactions • Mar 22
Independent Director recently bought AU$482k worth of stock On the 20th of March, Andrew Clark bought around 50k shares on-market at roughly AU$9.64 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$4.5m. Insiders have collectively bought AU$6.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 28
CEO & Director recently bought AU$4.5m worth of stock On the 26th of February, Jason Boyes bought around 476k shares on-market at roughly AU$9.48 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jason's only on-market trade for the last 12 months. Declared Dividend • Nov 16
First half dividend of NZ$0.072 announced Shareholders will receive a dividend of NZ$0.072. Ex-date: 20th November 2024 Payment date: 10th December 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 15
First half 2025 earnings released: NZ$0.26 loss per share (vs NZ$1.38 profit in 1H 2024) First half 2025 results: NZ$0.26 loss per share (down from NZ$1.38 profit in 1H 2024). Revenue: NZ$1.82b (up 28% from 1H 2024). Net loss: NZ$212.2m (down 118% from profit in 1H 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.0% decline forecast for the Diversified Financial industry in Australia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
Infratil Limited to Report First Half, 2025 Results on Nov 14, 2024 Infratil Limited announced that they will report first half, 2025 results on Nov 14, 2024 Recent Insider Transactions • Aug 20
Independent Director recently bought AU$917k worth of stock On the 13th of August, Andrew Clark bought around 94k shares on-market at roughly AU$9.71 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$2.1m more in shares than they have sold in the last 12 months. Announcement • Jun 13
Infratil Limited, Annual General Meeting, Aug 22, 2024 Infratil Limited, Annual General Meeting, Aug 22, 2024. Location: te papa, 55 cable street, wellington New Zealand Declared Dividend • May 24
Final dividend of NZ$0.14 announced Shareholders will receive a dividend of NZ$0.14. Ex-date: 5th June 2024 Payment date: 25th June 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (0.1729% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 38% over the next 3 years. However, it would need to fall by 100% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 21
Full year 2024 earnings released: EPS: NZ$1.03 (vs NZ$0.43 in FY 2023) Full year 2024 results: EPS: NZ$1.03 (up from NZ$0.43 in FY 2023). Revenue: NZ$3.24b (up 76% from FY 2023). Net income: NZ$854.4m (up 173% from FY 2023). Profit margin: 26% (up from 17% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Global Industrials industry. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 03
Infratil Limited to Report Fiscal Year 2024 Results on May 21, 2024 Infratil Limited announced that they will report fiscal year 2024 results on May 21, 2024 Recent Insider Transactions • Jan 26
Independent Director recently bought AU$858k worth of stock On the 23rd of January, Andrew Clark bought around 90k shares on-market at roughly AU$9.53 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$2.5m more in shares than they have sold in the last 12 months. Upcoming Dividend • Nov 22
Upcoming dividend of NZ$0.075 per share at 1.9% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 19 December 2023. Payout ratio is a comfortable 10% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (3.4%). Reported Earnings • Nov 18
First half 2024 earnings released: EPS: NZ$1.41 (vs NZ$0.019 in 1H 2023) First half 2024 results: EPS: NZ$1.41 (up from NZ$0.019 in 1H 2023). Revenue: NZ$1.46b (up 54% from 1H 2023). Net income: NZ$1.18b (up NZ$1.16b from 1H 2023). Profit margin: 81% (up from 1.5% in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Global Industrials industry. Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Nov 17
Infratil Limited Announces Dividend Ift-Ordinary Fully Paid Foreign Exempt Nzx for the Period Six Months Ended September 30, 2023 Infratil Limited announced dividend IFT-Ordinary Fully Paid Foreign Exempt NZX of NZD 0.07522298 for the period six months ended September 30, 2023. Record Date: November 30, 2023. Ex Date: November 29, 2023. Payment Date: January 2, 2023. Announcement • Jul 12
Infratil Limited (NZSE:IFT) entered into a conditional agreement to acquire 80% stake in Console Connect Inc. from HKT Trust and HKT Limited (SEHK:6823) for $160 million. Infratil Limited (NZSE:IFT) entered into a conditional agreement to acquire 80% stake in Console Connect Inc. from HKT Trust and HKT Limited (SEHK:6823) for $160 million on July 10, 2023. Infratil will initially acquire an 80% stake in Console Connect from HKT for $160 million. The purchase price includes an earnout and is subject to usual completion adjustments for cash, net debt, and net working capital. Infratil’s initial investment implies a 3.4x EV / FY2022A revenue multiple for Console Connect, with target returns of 15 – 25% over 10 years. Infratil will also enter into a strategic partnership with HKT, with both jointly investing up to $295 million over a 2-year period following completion of the acquisition to accelerate Console Connect’s growth. Following this initial period of growth investment, Infratil will own between 60-80% of Console Connect, with HKT holding the remainder.
Completion of the acquisition is conditional on telecommunication, foreign investment regulatory approvals and merger approvals in Australia, France, Germany, Greece, Hong Kong, Italy, Japan, Mozambique, the Netherlands, Singapore, South Africa, and the USA. Assuming those approvals are granted, completion is currently expected by Q3 2024. Bank Street acted as exclusive financial advisor and Herbert Smith Freehills acted as legal counsel to Infratil. Moelis acted as exclusive financial advisor and Gibson Dunn acted as legal counsel to HKT. Recent Insider Transactions • Jun 16
Independent Director recently bought AU$1.4m worth of stock On the 13th of June, Andrew Clark bought around 152k shares on-market at roughly AU$8.92 per share. This transaction increased Andrew's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$3.6m more in shares than they have sold in the last 12 months. Announcement • Jun 15
Infratil Limited (NZSE:IFT) completed the acquisition of additional 49.95% stake in One New Zealand Group Limited from Brookfield Asset Management Ltd. (TSX:BAM). Infratil Limited (NZSE:IFT) reached an agreement to acquire additional 49.95% stake in One New Zealand Group Limited from Brookfield Asset Management Ltd. (TSX:BAM) for NZD 1.8 billion on June 7, 2023. The transaction will be financed NZD 850 million equity raise and The balance will be funded by cash reserves and debt facilities of NZD 950 million. The Acquisition values One NZ at an enterprise value of NZD 5.9 billion and an implied EV/EBITDA multiple of 9.8x for Infratil’s increased stake and a normalised EV/EBITDA multiple of 9.3x.
Infratil Limited (NZSE:IFT) completed the acquisition of additional 49.95% stake in One New Zealand Group Limited from Brookfield Asset Management Ltd. (TSX:BAM) on June 15, 2023. New Risk • Jun 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.3% operating cash flow to total debt). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). New Risk • Jun 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.3% operating cash flow to total debt). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Announcement • Jun 08
Infratil Limited has completed a Follow-on Equity Offering in the amount of NZD 750.000008 million. Infratil Limited has completed a Follow-on Equity Offering in the amount of NZD 750.000008 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,521,740
Price\Range: NZD 9.2
Discount Per Security: NZD 0.0759
Transaction Features: Subsequent Direct Listing Announcement • Jun 07
Infratil Limited (NZSE:IFT) reached an agreement to acquire additional 49.95% stake in One New Zealand Group Limited from Brookfield Asset Management Ltd. (TSX:BAM) for NZD 1.8 billion. Infratil Limited (NZSE:IFT) reached an agreement to acquire additional 49.95% stake in One New Zealand Group Limited from Brookfield Asset Management Ltd. (TSX:BAM) for NZD 1.8 billion on June 7, 2023. The transaction will be financed NZD 850 million equity raise and The balance will be funded by cash reserves and debt facilities of NZD 950 million. The Acquisition values One NZ at an enterprise value of NZD 5.9 billion and an implied EV/EBITDA multiple of 9.8x for Infratil’s increased stake and a normalised EV/EBITDA multiple of 9.3x. Announcement • Jun 06
Infratil Limited, Annual General Meeting, Aug 17, 2023 Infratil Limited, Annual General Meeting, Aug 17, 2023, at 14:30 NZST - New Zealand Standard. Location: Public Trust Hall, 131 Lambton Quay Wellington New Zealand Announcement • May 22
Infratil Limited Announces Dividend on IFT-Ordinary Fully Paid Foreign Exempt NZX for the Period Six Months Ended March 31, 2023, Payable on 13 June 2023 Infratil Limited announced dividend IFT-Ordinary Fully Paid Foreign Exempt NZX of NZD 0.14705882 for the period six months ended March 31, 2023. Record Date: May 30, 2023. Ex Date: 29 May 2023. Payment Date: 13 June 2023. Reported Earnings • May 22
Full year 2023 earnings released: EPS: NZ$0.43 (vs NZ$0.06 in FY 2022) Full year 2023 results: EPS: NZ$0.43 (up from NZ$0.06 in FY 2022). Revenue: NZ$1.19b (up 39% from FY 2022). Net income: NZ$313.0m (up NZ$269.5m from FY 2022). Profit margin: 26% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Oceania are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Infratil Limited to Report Fiscal Year 2023 Results on May 22, 2023 Infratil Limited announced that they will report fiscal year 2023 results on May 22, 2023 Upcoming Dividend • Nov 22
Upcoming dividend of NZ$0.079 per share Eligible shareholders must have bought the stock before 29 November 2022. Payment date: 14 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.1%. Lower than top quartile of Australian dividend payers (7.0%). Lower than average of industry peers (4.2%). Reported Earnings • Nov 17
First half 2023 earnings released: EPS: NZ$0.019 (vs NZ$0.049 loss in 1H 2022) First half 2023 results: EPS: NZ$0.019 (up from NZ$0.049 loss in 1H 2022). Revenue: NZ$951.0m (up 48% from 1H 2022). Net income: NZ$14.0m (up NZ$49.4m from 1H 2022). Profit margin: 1.5% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Electric Utilities industry in Oceania. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 12
CEO & Director recently bought AU$1.2m worth of stock On the 10th of August, Jason Boyes bought around 150k shares on-market at roughly AU$8.19 per share. This was the largest purchase by an insider in the last 3 months. This was Jason's only on-market trade for the last 12 months. Upcoming Dividend • May 24
Upcoming dividend of NZ$0.14 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 15 June 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.3%. Lower than top quartile of Australian dividend payers (6.1%). Lower than average of industry peers (3.8%). Reported Earnings • May 20
Full year 2022 earnings released: EPS: NZ$0.06 (vs NZ$0.19 loss in FY 2021) Full year 2022 results: EPS: NZ$0.06 (up from NZ$0.19 loss in FY 2021). Revenue: NZ$860.6m (up 111% from FY 2021). Net income: NZ$43.5m (up NZ$178.6m from FY 2021). Profit margin: 5.1% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 9.7% compared to a 2.3% decline forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 26
Upcoming dividend of NZ$0.076 per share Eligible shareholders must have bought the stock before 03 December 2021. Payment date: 23 December 2021. Trailing yield: 2.2%. Lower than top quartile of Australian dividend payers (5.4%). Lower than average of industry peers (3.8%). Reported Earnings • Nov 12
First half 2022 earnings released The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down NZ$27.8m from profit in 1H 2021). Profit margin: (down from 4.2% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 2 analysts covering Infratil expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of NZ$47.4m in 2022. Earnings growth of 84% is required to achieve expected profit on schedule. Recent Insider Transactions • Jun 04
Insider recently bought AU$94k worth of stock On the 1st of June, Catherine Savage bought around 13k shares on-market at roughly AU$7.12 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$266k more in shares than they have sold in the last 12 months. Upcoming Dividend • Jun 01
Upcoming dividend of NZ$0.13 per share Eligible shareholders must have bought the stock before 08 June 2021. Payment date: 22 June 2021. Trailing yield: 2.3%. Lower than top quartile of Australian dividend payers (5.1%). Lower than average of industry peers (4.1%). Recent Insider Transactions • Mar 25
Independent Director recently bought AU$68k worth of stock On the 22nd of March, Peter Springford bought around 10k shares on-market at roughly AU$6.78 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$145k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 21% share price gain to NZ$6.80, the stock is trading at a trailing P/E ratio of 16.7x, up from the previous P/E ratio of 13.8x. This compares to an average P/E of 44x in the Electric Utilities industry in Oceania. Total returns to shareholders over the past three years are 154%. Is New 90 Day High Low • Nov 23
New 90-day high: AU$5.43 The company is up 17% from its price of AU$4.64 on 25 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.57 per share. Reported Earnings • Nov 16
First half 2021 earnings released: EPS NZ$0.04 The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: NZ$662.0m (down 18% from 1H 2020). Net income: NZ$27.8m (down 42% from 1H 2020). Profit margin: 4.2% (down from 6.0% in 1H 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 23
New 90-day high: AU$5.13 The company is up 14% from its price of AU$4.51 on 24 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.26 per share. Is New 90 Day High Low • Oct 06
New 90-day high: AU$4.70 The company is up 2.0% from its price of AU$4.60 on 08 July 2020. The Australian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electric Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.29 per share. Announcement • Jun 30
Infratil Limited has completed a Follow-on Equity Offering in the amount of NZD 50 million. Infratil Limited has completed a Follow-on Equity Offering in the amount of NZD 50 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,752,688
Price\Range: NZD 4.65