The New Zealand Refining Company Limited, together with its subsidiaries, engages in the refining of crude oil and supply of refined petroleum products in New Zealand.
Reasonable growth potential with adequate balance sheet.
Share Price & News
How has New Zealand Refining's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NZR has not had significant price volatility in the past 3 months.
7 Day Return
NZ Oil and Gas
1 Year Return
NZ Oil and Gas
Return vs Industry: NZR underperformed the NZ Oil and Gas industry which returned 0.8% over the past year.
Return vs Market: NZR underperformed the NZ Market which returned 15% over the past year.
Price Volatility Vs. Market
How volatile is New Zealand Refining's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall StShould You Be Concerned About The New Zealand Refining Company Limited's (NZSE:NZR) ROE?
2 weeks ago | Simply Wall StIs The New Zealand Refining Company Limited (NZSE:NZR) At Risk Of Cutting Its Dividend?
4 weeks ago | Simply Wall StDoes New Zealand Refining (NZSE:NZR) Have A Healthy Balance Sheet?
Is New Zealand Refining undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NZR (NZ$2.08) is trading below our estimate of fair value (NZ$2.2)
Significantly Below Fair Value: NZR is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: NZR is poor value based on its PE Ratio (22.4x) compared to the Oil and Gas industry average (9.9x).
PE vs Market: NZR is poor value based on its PE Ratio (22.4x) compared to the NZ market (18.8x).
Price to Earnings Growth Ratio
PEG Ratio: NZR is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: NZR is good value based on its PB Ratio (0.9x) compared to the XO Oil and Gas industry average (1.3x).
How is New Zealand Refining forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NZR's forecast earnings growth (20.3% per year) is above the savings rate (2.4%).
Earnings vs Market: NZR's earnings (20.3% per year) are forecast to grow faster than the NZ market (7.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: NZR's revenue (5.7% per year) is forecast to grow faster than the NZ market (4.4% per year).
High Growth Revenue: NZR's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NZR's Return on Equity is forecast to be low in 3 years time (8%).
How has New Zealand Refining performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NZR has high quality earnings.
Growing Profit Margin: NZR's current net profit margins (7.5%) are lower than last year (11%).
Past Earnings Growth Analysis
Earnings Trend: NZR has become profitable over the past 5 years, growing earnings by -1.7% per year.
Accelerating Growth: NZR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: NZR had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the Oil and Gas industry average (58.2%).
Return on Equity
High ROE: NZR's Return on Equity (3.9%) is considered low.
Return on Assets
Return on Capital Employed
How is New Zealand Refining's financial position?
Financial Position Analysis
Short Term Liabilities: NZR's short term assets (NZ$170.2M) do not cover its short term liabilities (NZ$225.5M)
Long Term Liabilities: NZR's short term assets (170.2M) do not cover its long term liabilities (407.9M)
Debt to Equity History and Analysis
Debt Level: NZR's debt to equity ratio (35.8%) is considered satisfactory
Reducing Debt: NZR's debt to equity ratio has reduced from 44.9% to 35.8% over the past 5 years.
Debt Coverage: NZR's debt is well covered by operating cash flow (44.2%).
Interest Coverage: NZR's interest payments on its debt are well covered by EBIT (4x coverage).
Inventory Level: NZR has a high level of physical assets or inventory.
Debt Coverage by Assets: NZR's debt is not covered by short term assets (assets are 0.6x debt).
What is New Zealand Refining's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: NZR's dividend (3.61%) is higher than the bottom 25% of dividend payers in the NZ market (3.11%).
High Dividend: NZR's dividend (3.61%) is low compared to the top 25% of dividend payers in the NZ market (5.59%).
Stability and Growth of Payments
Stable Dividend: NZR's dividend payments have been volatile in the past 10 years.
Growing Dividend: NZR's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.1%), NZR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NZR's dividends in 3 years are not forecast to be well covered by earnings (101% payout ratio).
What is the CEO of New Zealand Refining's salary, the management and board of directors tenure and is there insider trading?
Average management tenure
Mike Fuge 0
Mr. Michael Fuge, also known as Mike, M. Com. (Hons), B.Eng. (Hons), MIPENZ, serves as Chief Executive Officer at The New Zealand Refining Company Limited since August 2018. Mr. Fuge served as the Chief Ex ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD728.16K) is above average for companies of similar size in the NZ market ($USD494.46K).
Compensation vs Earnings: Insufficient data to compare Mike's compensation with company performance.
Management Age and Tenure
Experienced Management: NZR's management team is considered experienced (3.8 years average tenure).
Board Age and Tenure
Experienced Board: NZR's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
CFO & Company Secretary
- Tenure: 10.8yrs
Chief Executive Officer
- Tenure: 1.3yrs
- Compensation: NZ$1.14m
Chief Development Officer
- Tenure: 0yrs
Communications & External Affairs Manager
- Tenure: 0yrs
Chief People & Capability Officer
- Tenure: 3.8yrs
Simon Allen (61yo)
- Tenure: 4.6yrs
- Compensation: NZ$180.00k
- Tenure: 3.3yrs
- Compensation: NZ$122.50k
Vanessa Cynthia Stoddart (48yo)
- Tenure: 6.5yrs
- Compensation: NZ$115.00k
- Tenure: 1yrs
- Tenure: 1.7yrs
- Compensation: NZ$58.97k
- Tenure: 2.6yrs
- Compensation: NZ$75.00k
- Tenure: 2.3yrs
- Compensation: NZ$75.00k
The New Zealand Refining Company Limited's company bio, employee growth, exchange listings and data sources
- Name: The New Zealand Refining Company Limited
- Ticker: NZR
- Exchange: NZSE
- Founded: 1961
- Industry: Oil and Gas Refining and Marketing
- Sector: Energy
- Market Cap: NZ$646.255m
- Shares outstanding: 312.20m
- Website: https://www.refiningnz.com
Number of Employees
- The New Zealand Refining Company Limited
- Private Bag 9024
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|NZR||NZSE (New Zealand Stock Exchange)||Yes||Ordinary Shares||NZ||NZD||Jan 1992|
|NZRF.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Jan 1992|
The New Zealand Refining Company Limited, together with its subsidiaries, engages in the refining of crude oil and supply of refined petroleum products in New Zealand. The company operates through Oil Refi ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2019/11/12 10:31|
|End of Day Share Price||2019/11/11 00:00|
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.