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Arvida Group NZSE:ARV Stock Report

Last Price


Market Cap







28 Sep, 2022


Company Financials +

Arvida Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Arvida Group
Historical stock prices
Current Share PriceNZ$1.43
52 Week HighNZ$2.14
52 Week LowNZ$1.39
1 Month Change-5.30%
3 Month Change-1.38%
1 Year Change-31.58%
3 Year Change-1.38%
5 Year Change15.32%
Change since IPO50.53%

Recent News & Updates

May 31
Results: Arvida Group Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

Results: Arvida Group Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

Arvida Group Limited ( NZSE:ARV ) came out with its annual results last week, and we wanted to see how the business is...

May 09
An Intrinsic Calculation For Arvida Group Limited (NZSE:ARV) Suggests It's 21% Undervalued

An Intrinsic Calculation For Arvida Group Limited (NZSE:ARV) Suggests It's 21% Undervalued

Does the May share price for Arvida Group Limited ( NZSE:ARV ) reflect what it's really worth? Today, we will estimate...

Shareholder Returns

ARVNZ HealthcareNZ Market

Return vs Industry: ARV underperformed the NZ Healthcare industry which returned -22.2% over the past year.

Return vs Market: ARV underperformed the NZ Market which returned -17.6% over the past year.

Price Volatility

Is ARV's price volatile compared to industry and market?
ARV volatility
ARV Average Weekly Movement3.0%
Healthcare Industry Average Movement3.8%
Market Average Movement3.9%
10% most volatile stocks in NZ Market7.7%
10% least volatile stocks in NZ Market2.8%

Stable Share Price: ARV is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ARV's weekly volatility (3%) has been stable over the past year.

About the Company

20142,707Jeremy Nicoll

Arvida Group Limited, together with its subsidiaries, owns, develops, and operates retirement villages and care facilities for the elderly in New Zealand. As of March 31, 2022, it operated approximately 35 retirement villages with 1,544 aged care beds and 3,912 retirement units. The company was formerly known as Hercules Limited.

Arvida Group Fundamentals Summary

How do Arvida Group's earnings and revenue compare to its market cap?
ARV fundamental statistics
Market CapNZ$1.03b
Earnings (TTM)NZ$198.88m
Revenue (TTM)NZ$201.66m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ARV income statement (TTM)
Cost of RevenueNZ$140.72m
Gross ProfitNZ$60.94m
Other Expenses-NZ$137.94m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)0.27
Gross Margin30.22%
Net Profit Margin98.62%
Debt/Equity Ratio34.5%

How did ARV perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is ARV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ARV?

Other financial metrics that can be useful for relative valuation.

ARV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7.4x
Enterprise Value/EBITDA78.8x
PEG Ratio-0.1x

Price to Earnings Ratio vs Peers

How does ARV's PE Ratio compare to its peers?

ARV PE Ratio vs Peers
The above table shows the PE ratio for ARV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.5x
OCA Oceania Healthcare
SUM Summerset Group Holdings
RYM Ryman Healthcare
RAD Radius Residential Care
ARV Arvida Group

Price-To-Earnings vs Peers: ARV is good value based on its Price-To-Earnings Ratio (5.2x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

How does ARV's PE Ratio compare vs other companies in the Global Healthcare Industry?

Price-To-Earnings vs Industry: ARV is good value based on its Price-To-Earnings Ratio (5.2x) compared to the Global Healthcare industry average (17.3x)

Price to Earnings Ratio vs Fair Ratio

What is ARV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ARV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.2x
Fair PE Ratio4.8x

Price-To-Earnings vs Fair Ratio: ARV is expensive based on its Price-To-Earnings Ratio (5.2x) compared to the estimated Fair Price-To-Earnings Ratio (4.8x).

Share Price vs Fair Value

What is the Fair Price of ARV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ARV (NZ$1.43) is trading below our estimate of fair value (NZ$2.02)

Significantly Below Fair Value: ARV is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is Arvida Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ARV's earnings are forecast to decline over the next 3 years (-38.4% per year).

Earnings vs Market: ARV's earnings are forecast to decline over the next 3 years (-38.4% per year).

High Growth Earnings: ARV's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ARV's revenue (13.2% per year) is forecast to grow faster than the NZ market (5.6% per year).

High Growth Revenue: ARV's revenue (13.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ARV's Return on Equity is forecast to be low in 3 years time (8%).

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Past Performance

How has Arvida Group performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ARV has a large one-off gain of NZ$188.9M impacting its March 31 2022 financial results.

Growing Profit Margin: ARV's current net profit margins (98.6%) are higher than last year (75.2%).

Past Earnings Growth Analysis

Earnings Trend: ARV's earnings have grown significantly by 27.9% per year over the past 5 years.

Accelerating Growth: ARV's earnings growth over the past year (51.7%) exceeds its 5-year average (27.9% per year).

Earnings vs Industry: ARV earnings growth over the past year (51.7%) exceeded the Healthcare industry 12.7%.

Return on Equity

High ROE: ARV's Return on Equity (14.8%) is considered low.

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Financial Health

How is Arvida Group's financial position?

Financial Health Score


Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ARV's short term assets (NZ$67.8M) do not cover its short term liabilities (NZ$1.5B).

Long Term Liabilities: ARV's short term assets (NZ$67.8M) do not cover its long term liabilities (NZ$579.4M).

Debt to Equity History and Analysis

Debt Level: ARV's net debt to equity ratio (33.9%) is considered satisfactory.

Reducing Debt: ARV's debt to equity ratio has increased from 19.9% to 34.5% over the past 5 years.

Debt Coverage: ARV's debt is well covered by operating cash flow (32.7%).

Interest Coverage: ARV's interest payments on its debt are not well covered by EBIT (1.4x coverage).

Balance Sheet

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What is Arvida Group current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Arvida Group Dividend Yield vs Market
How does Arvida Group dividend yield compare to the market?
SegmentDividend Yield
Company (Arvida Group)4.2%
Market Bottom 25% (NZ)2.8%
Market Top 25% (NZ)6.3%
Industry Average (Healthcare)2.7%
Analyst forecast in 3 Years (Arvida Group)4.9%

Notable Dividend: ARV's dividend (4.2%) is higher than the bottom 25% of dividend payers in the NZ market (2.86%).

High Dividend: ARV's dividend (4.2%) is low compared to the top 25% of dividend payers in the NZ market (6.13%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, ARV has been paying a dividend for less than 10 years.

Growing Dividend: ARV's dividend payments have increased, but the company has only paid a dividend for 7 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (17%), ARV's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (31.9%), ARV's dividend payments are well covered by cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Jeremy Nicoll



Mr. Jeremy Nicoll, BCom, CA serves as Chief Executive Officer at Arvida Group Limited since 2021 and was Deputy Chief Executive Officer until 2021. He served as the Chief Financial Officer of Arvida Grou...

Leadership Team

Experienced Management: ARV's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.

Board Members

Experienced Board: ARV's board of directors are considered experienced (7.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NZSE:ARV Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
02 May 22BuyNZ$23,379,018Forsyth Barr Investment Management LimitedCompany12,529,038NZ$1.87
02 May 22SellNZ$11,576,168Forsyth Barr Investment Management LimitedCompany6,471,490NZ$1.79
02 May 22BuyNZ$16,346,491Forsyth Barr Investment Management LimitedCompany8,340,050NZ$1.96
18 Oct 21BuyNZ$28,987,113Milford Asset Management LimitedCompany14,743,582NZ$1.97
18 Oct 21SellNZ$16,148,907Milford Asset Management LimitedCompany7,765,504NZ$2.08
18 Oct 21BuyNZ$121,520Paul Ridley-SmithIndividual62,000NZ$1.96

Ownership Breakdown

What is the ownership structure of ARV?
Owner TypeNumber of SharesOwnership Percentage
Private Companies17,263,2992.4%
Individual Insiders49,531,1056.8%
General Public418,525,49257.8%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 33.2%.

Top Shareholders

Top 25 shareholders own 39.53% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Forsyth Barr Investment Management Limited
Milford Asset Management Limited
Accident Compensation Corporation, Asset Management Arm
The Vanguard Group, Inc.
22,711,274NZ$32.5m2.03%no data
Generate Investment Management Limited
20,900,123NZ$29.9m0%no data
13,589,271NZ$19.4m0.06%no data
Leveraged Equities Finance Limited, Asset Management Arm
Norges Bank Investment Management
7,889,939NZ$11.3m0%no data
Waikanae Trustees Limited
6,963,633NZ$10.0m0%no data
Dimensional Fund Advisors LP
5,806,072NZ$8.3m1.37%no data
Banco Trustees Limited
5,599,483NZ$8.0m0%no data
Geoffrey McPhail
5,599,483NZ$8.0m0%no data
Smartshares Limited
Simon Marks
4,348,481NZ$6.2m0%no data
Gloria Hurst
3,277,254NZ$4.7m0%no data
Ian Hurst
3,277,254NZ$4.7m0%no data
Arthur Keegan
3,018,760NZ$4.3m0%no data
Wairahi Investments Limited
2,500,000NZ$3.6m0%no data
Donna Hurst
2,322,229NZ$3.3m0%no data
Douglas Hurst
2,322,229NZ$3.3m0%no data
Suzanne Marshall
2,315,664NZ$3.3m0%no data
Purnell Creighton Trustees Ltd
2,200,183NZ$3.1m0%no data
Alison Davis
2,200,183NZ$3.1m0%no data
Trevor Marshall
2,032,818NZ$2.9m0%no data
Philip Lennon
2,000,000NZ$2.9m0%no data

Company Information

Arvida Group Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Arvida Group Limited
  • Ticker: ARV
  • Exchange: NZSE
  • Founded: 2014
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Implied Market Cap: NZ$1.035b
  • Shares outstanding: 723.58m
  • Website:

Number of Employees


  • Arvida Group Limited
  • 39 Market Place
  • Level 1
  • Auckland
  • 1010
  • New Zealand


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ARVNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDDec 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Annual Earnings2022/03/31

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.