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Z Energy

ASX:ZEL
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ZEL
ASX
NZ$3B
Market Cap
  1. Home
  2. AU
  3. Energy
Company description

Z Energy Limited sells transport fuel in New Zealand. The last earnings update was 172 days ago. More info.


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ZEL Share Price and Events
7 Day Returns
1.2%
ASX:ZEL
0.8%
AU Oil and Gas
-0%
AU Market
1 Year Returns
-11.7%
ASX:ZEL
3.8%
AU Oil and Gas
4.9%
AU Market
ZEL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Z Energy (ZEL) 1.2% -1.2% 9.3% -11.7% -6.8% 58.9%
AU Oil and Gas 0.8% -1.5% 5.1% 3.8% 30.5% -32%
AU Market -0% 1% 6.3% 4.9% 18.2% 4.8%
1 Year Return vs Industry and Market
  • ZEL underperformed the Oil and Gas industry which returned 3.8% over the past year.
  • ZEL underperformed the Market in Australia which returned 4.9% over the past year.
Price Volatility
ZEL
Industry
5yr Volatility vs Market

ZEL Value

 Is Z Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Z Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Z Energy.

ASX:ZEL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:ZEL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.954 (1 + (1- 28%) (37.46%))
1.141
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.141 * 5.96%)
9.11%

Discounted Cash Flow Calculation for ASX:ZEL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Z Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:ZEL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 9.11%)
2019 152.00 Analyst x2 139.30
2020 258.00 Analyst x2 216.70
2021 282.00 Analyst x1 217.08
2022 301.51 Est @ 6.92% 212.71
2023 318.21 Est @ 5.54% 205.74
2024 332.75 Est @ 4.57% 197.18
2025 345.71 Est @ 3.89% 187.74
2026 357.52 Est @ 3.42% 177.94
2027 368.56 Est @ 3.09% 168.12
2028 379.08 Est @ 2.85% 158.47
Present value of next 10 years cash flows NZ$1,881.00
ASX:ZEL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NZ$379.08 × (1 + 2.31%) ÷ (9.11% – 2.31%)
NZ$5,702.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$5,702.48 ÷ (1 + 9.11%)10
NZ$2,383.90
ASX:ZEL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$1,881.00 + NZ$2,383.90
NZ$4,264.90
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$4,264.90 / 400.00
NZ$10.66
ASX:ZEL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in ASX:ZEL represents 0.9448x of NZSE:ZEL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9448x
Value per Share
(Listing Adjusted, AUD)
= Value per Share (NZD) x Listing Adjustment Factor
= NZ$ 10.66 x 0.9448
A$10.07
Value per share (AUD) From above. A$10.07
Current discount Discount to share price of A$5.99
= -1 x (A$5.99 - A$10.07) / A$10.07
40.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Z Energy is available for.
Intrinsic value
41%
Share price is A$5.99 vs Future cash flow value of A$10.07
Current Discount Checks
For Z Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Z Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Z Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Z Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Z Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:ZEL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in NZD NZ$0.81
NZSE:ZEL Share Price ** NZSE (2019-04-18) in NZD NZ$6.34
Australia Oil and Gas Industry PE Ratio Median Figure of 23 Publicly-Listed Oil and Gas Companies 7.92x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Z Energy.

ASX:ZEL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NZSE:ZEL Share Price ÷ EPS (both in NZD)

= 6.34 ÷ 0.81

7.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Z Energy is good value based on earnings compared to the AU Oil and Gas industry average.
  • Z Energy is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Z Energy's expected growth come at a high price?
Raw Data
ASX:ZEL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
1.7%per year
Australia Oil and Gas Industry PEG Ratio Median Figure of 17 Publicly-Listed Oil and Gas Companies 0.24x
Australia Market PEG Ratio Median Figure of 360 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

ASX:ZEL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.85x ÷ 1.7%

4.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Z Energy is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Z Energy's assets?
Raw Data
ASX:ZEL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in NZD NZ$2.32
NZSE:ZEL Share Price * NZSE (2019-04-18) in NZD NZ$6.34
Australia Oil and Gas Industry PB Ratio Median Figure of 145 Publicly-Listed Oil and Gas Companies 1.31x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.67x
ASX:ZEL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:ZEL Share Price ÷ Book Value per Share (both in NZD)

= 6.34 ÷ 2.32

2.73x

* Primary Listing of Z Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Z Energy is overvalued based on assets compared to the AU Oil and Gas industry average.
X
Value checks
We assess Z Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Z Energy has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ZEL Future Performance

 How is Z Energy expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Z Energy expected to grow at an attractive rate?
  • Z Energy's earnings growth is positive but not above the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Z Energy's earnings growth is positive but not above the Australia market average.
  • Z Energy's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:ZEL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:ZEL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 1.7%
ASX:ZEL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 0.5%
Australia Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 4.2%
Australia Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.6%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:ZEL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:ZEL Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 250
2022-03-31 246
2021-03-31 5,312 337 226 4
2020-03-31 5,188 333 219 4
2019-03-31 5,279 231 200 4
ASX:ZEL Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2018-09-30 5,158 321 322
2018-06-30 4,864 358 293
2018-03-31 4,570 395 263
2017-12-31 4,429 352 257
2017-09-30 4,287 309 250
2017-06-30 4,075 282 247
2017-03-31 3,863 255 243
2016-12-31 3,369 265 157
2016-09-30 2,874 275 70
2016-06-30 2,698 202 67
2016-03-31 2,521 129 64
2015-12-31 2,624 155 58

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Z Energy's earnings are expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
  • Z Energy's revenue is expected to grow by 0.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:ZEL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Z Energy Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:ZEL Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 0.63 0.63 0.63 1.00
2022-03-31 0.61 0.61 0.61 1.00
2021-03-31 0.56 0.61 0.50 5.00
2020-03-31 0.54 0.61 0.46 5.00
2019-03-31 0.48 0.50 0.43 5.00
ASX:ZEL Past Financials Data
Date (Data in NZD Millions) EPS *
2018-09-30 0.81
2018-06-30 0.73
2018-03-31 0.66
2017-12-31 0.64
2017-09-30 0.63
2017-06-30 0.62
2017-03-31 0.61
2016-12-31 0.39
2016-09-30 0.17
2016-06-30 0.17
2016-03-31 0.16
2015-12-31 0.14

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Z Energy is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Z Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Z Energy has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ZEL Past Performance

  How has Z Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Z Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Z Energy has delivered over 20% year on year earnings growth in the past 5 years.
  • Z Energy's 1-year earnings growth is less than its 5-year average (28.8% vs 33.9%)
  • Z Energy's earnings growth has exceeded the AU Oil and Gas industry average in the past year (28.8% vs 12.9%).
Earnings and Revenue History
Z Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Z Energy Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:ZEL Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 5,158.00 322.00 395.00
2018-06-30 4,864.00 292.50 396.00
2018-03-31 4,570.00 263.00 397.00
2017-12-31 4,428.50 256.50 406.50
2017-09-30 4,287.00 250.00 416.00
2017-06-30 4,075.00 246.50 402.50
2017-03-31 3,863.00 243.00 389.00
2016-12-31 3,368.50 156.50 359.00
2016-09-30 2,874.00 70.00 329.00
2016-06-30 2,697.50 67.00 328.50
2016-03-31 2,521.00 64.00 328.00
2015-12-31 2,624.00 58.00 330.00
2015-09-30 2,727.00 52.00 332.00
2015-06-30 2,895.50 29.50 326.50
2015-03-31 3,064.00 7.00 321.00
2014-12-31 3,211.50 34.00 307.50
2014-09-30 3,359.00 61.00 294.00
2014-06-30 3,365.00 78.00 287.50
2014-03-31 3,371.00 95.00 281.00
2013-12-31 3,547.40 131.55 288.35
2013-09-30 3,723.80 168.10 295.70
2013-06-30 3,640.90 152.55 292.35
2013-03-31 3,558.00 137.00 289.00
2012-12-31 3,341.90 119.80 277.15
2012-09-30 3,125.80 102.60 265.30
2012-06-30 3,152.55 111.65 260.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Z Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Z Energy used its assets more efficiently than the AU Oil and Gas industry average last year based on Return on Assets.
  • Z Energy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Z Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Z Energy has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ZEL Health

 How is Z Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Z Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Z Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Z Energy's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Z Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Z Energy Company Filings, last reported 6 months ago.

ASX:ZEL Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 941.00 944.00 61.00
2018-06-30 941.00 944.00 61.00
2018-03-31 857.00 896.00 72.00
2017-12-31 857.00 896.00 72.00
2017-09-30 708.00 997.00 31.00
2017-06-30 708.00 997.00 31.00
2017-03-31 702.00 1,042.00 9.00
2016-12-31 702.00 1,042.00 9.00
2016-09-30 571.00 1,149.00 29.00
2016-06-30 571.00 1,149.00 29.00
2016-03-31 566.00 430.00 76.00
2015-12-31 566.00 430.00 76.00
2015-09-30 505.00 439.00 16.00
2015-06-30 505.00 439.00 16.00
2015-03-31 505.00 430.00 206.00
2014-12-31 505.00 430.00 206.00
2014-09-30 554.00 430.00 74.00
2014-06-30 554.00 430.00 74.00
2014-03-31 591.00 430.00 178.00
2013-12-31 591.00 430.00 178.00
2013-09-30 587.90 460.40 21.10
2013-06-30 587.90 460.40 21.10
2013-03-31 597.00 430.00 115.00
2012-12-31 597.00 430.00 115.00
2012-09-30 516.90 431.30 18.70
2012-06-30 516.90 431.30 18.70
  • Z Energy's level of debt (100.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (78.3% vs 100.3% today).
  • Debt is well covered by operating cash flow (34%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.1x coverage).
X
Financial health checks
We assess Z Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Z Energy has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ZEL Dividends

 What is Z Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.43%
Current annual income from Z Energy dividends. Estimated to be 8.44% next year.
If you bought A$2,000 of Z Energy shares you are expected to receive A$109 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Z Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.52%).
  • Z Energy's dividend is below the markets top 25% of dividend payers in Australia (5.81%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:ZEL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Australia Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:ZEL Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 0.59 1.00
2022-03-31 0.59 1.00
2021-03-31 0.56 5.00
2020-03-31 0.49 5.00
2019-03-31 0.43 5.00
ASX:ZEL Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2018-10-31 0.344 5.817
2018-05-09 0.323 4.499
2017-11-08 0.303 4.120
2017-05-10 0.293 3.858
2016-11-09 0.275 3.798
2016-06-02 0.266 3.232
2015-05-06 0.242 3.831
2014-05-08 0.286 6.724
2013-11-06 0.154 4.081

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Z Energy has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Z Energy only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Z Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Z Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Z Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Z Energy has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ZEL Management

 What is the CEO of Z Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Bennetts
TENURE AS CEO 7.5 years
CEO Bio

Mr. Michael John Bennetts, also known as Mike, BBS, Diploma in Corporate Management, CMInstD, serves as a Member of the Management of Morrison & Co Infrastructure Management Limited - Manager for Infratil Ltd. He also serves as Chairman of the board of directors at Punakaiki Fund Ltd. Mr. Bennetts has been the Chief Executive Officer of Z Energy Limited (alternatively Greenstone Energy Ltd.) since October 17, 2011. He joined Greenstone in 2010 after a 25 year career with BP which included a variety of downstream roles in the oil and gas sector in New Zealand, China, South Africa, the UK and Singapore. He served as the Chief Executive of Integrated Supply and Trading, BP Eastern Hemisphere. He has over 20 years of experience in the Energy Industry. His experience is concentrated in BP's supply, trading and downstream businesses. He joined BP in 1983 and served as the Chief of Staff of Integrated Supply and Trading, BP London from 2001 to 2003 and Commercial Manager, BP South Africa (Pty) Ltd., Cape Town from 2000 to 2001. He served various roles in BP Marketing Business in South Africa, China and New Zealand. Mr. Bennetts had served as a Non Independent Director of New Zealand Refining Co. Ltd. from May 10, 2010 to March 2018. He served as a Non Executive and Non Independent Director of China Aviation Oil Singapore Corp. Ltd., from January 1, 2007 to August 5, 2009. Mr. Bennetts holds Bachelor of Business Studies in Management, Massey University, New Zealand and Postgraduate Diploma in Corporate Management.

CEO Compensation
  • Insufficient data for Mike to compare compensation growth.
  • Insufficient data for Mike to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure

Average tenure of the Z Energy management team in years:

1.3
Average Tenure
  • The average tenure for the Z Energy management team is less than 2 years, this suggests a new team.
Management Team

Mike Bennetts

TITLE
Chief Executive Officer
TENURE
7.5 yrs

Lindis Jones

TITLE
Chief Financial Officer

Debra Blackett

TITLE
General Counsel & Chief Governance Officer
TENURE
0.5 yrs

Jane Anthony

TITLE
General Manager of Marketing
TENURE
4.2 yrs

Helen Sedcole

TITLE
General Manager of People & Culture
TENURE
1.3 yrs

Chris Day

TITLE
Executive Officer

Scott Bishop

TITLE
Chief Innovation Officer

Mandy Simpson

TITLE
Chief Digital Officer
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure of the Z Energy board of directors in years:

3.4
Average Tenure
  • The tenure for the Z Energy board of directors is about average.
Board of Directors

Peter Griffiths

TITLE
Independent Chairman
COMPENSATION
NZ$183K

Alan Dunn

TITLE
Independent Director
COMPENSATION
NZ$115K
TENURE
9 yrs

Abby Foote

TITLE
Independent Director
COMPENSATION
NZ$115K
TENURE
5.9 yrs

Andrew Cross

TITLE
Independent Director
COMPENSATION
NZ$105K
TENURE
3.7 yrs

Julia Raue

TITLE
Independent Director
COMPENSATION
NZ$100K
TENURE
3.2 yrs

Steve Reindler

TITLE
Independent Director
TENURE
1.9 yrs

Blair O'Keeffe

TITLE
Independent Director
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
08. Nov 18 Buy Julia Raue Individual 08. Nov 18 08. Nov 18 10,500 A$5.29 A$55,509
07. Nov 18 Buy Stephen Reindler Individual 08. May 18 02. Nov 18 7,500 A$7.20 A$46,937
24. Jul 18 Sell Mark Forsyth Individual 07. May 18 07. May 18 -20,000 A$6.92 A$-138,361
10. Jul 18 Sell Investors Mutual Limited Company 03. Apr 17 14. Jun 18 -795,516 A$6.91 A$-5,500,133
10. Jul 18 Buy Investors Mutual Limited Company 29. Mar 17 09. Jul 18 4,884,254 A$6.83 A$33,371,851
21. Jun 18 Sell Accident Compensation Corporation, Asset Management Arm Company 30. Apr 18 20. Jun 18 -627,394 A$6.97 A$-4,371,102
21. Jun 18 Buy Accident Compensation Corporation, Asset Management Arm Company 30. Apr 18 20. Jun 18 761,037 A$6.90 A$5,252,276
12. Jun 18 Buy Andrew Cross Individual 08. May 18 08. May 18 8,000 A$7.50 A$60,000
23. May 18 Buy Peter Griffiths Individual 21. May 18 21. May 18 12,500 A$6.87 A$85,822
14. May 18 Sell Perpetual Limited Company 02. Mar 18 11. May 18 -2,600,256 A$6.23 A$-16,199,729
14. May 18 Buy Perpetual Limited Company 08. Mar 18 04. May 18 15,035 A$5.96 A$89,631
30. Apr 18 Sell Accident Compensation Corporation, Asset Management Arm Company 27. Mar 18 27. Apr 18 -432,317 A$0.23 A$-98,843
30. Apr 18 Buy Accident Compensation Corporation, Asset Management Arm Company 27. Mar 18 27. Apr 18 350,000 A$6.54 A$2,288,093
X
Management checks
We assess Z Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Z Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ZEL News

Simply Wall St News

ZEL Company Info

Description

Z Energy Limited sells transport fuel in New Zealand. It supplies fuel to retail customers, as well as commercial customers, such as airlines, trucking companies, mines, shipping companies, and vehicle fleet operators, as well as supplies bitumen to roading contractors. The company also offers Z card and Star card services for businesses to buy fuels. It owns and manages approximately 343 retail service stations; 157 truck stops; 7 electric vehicle charging stations; and pipelines, terminals, and fuel storage terminal infrastructure. The company was formerly known as Greenstone Energy Limited and changed its name to Z Energy Limited in May 2011. Z Energy Limited was incorporated in 1959 and is headquartered in Wellington, New Zealand.

Details
Name: Z Energy Limited
ZEL
Exchange: ASX
Founded: 1959
NZ$2,357,517,223
400,000,000
Website: http://www.z.co.nz
Address: Z Energy Limited
3 Queens Wharf,
Wellington,
6011,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE ZEL Ordinary Shares New Zealand Stock Exchange NZ NZD 19. Aug 2013
OTCPK ZNRG.F Ordinary Shares Pink Sheets LLC US USD 19. Aug 2013
ASX ZEL Ordinary Shares Australian Securities Exchange AU AUD 19. Aug 2013
CHIA ZEL Ordinary Shares Chi-X Australia AU AUD 19. Aug 2013
Number of employees
Current staff
Staff numbers
460
Z Energy employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 10:34
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2018/11/01
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.