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SKT

SKY Network Television NZSE:SKT Stock Report

Last Price

NZ$2.29

Market Cap

NZ$400.0m

7D

0%

1Y

12.3%

Updated

25 Sep, 2022

Data

Company Financials +
SKT fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health6/6
Dividends3/6

SKT Stock Overview

SKY Network Television Limited, an entertainment company, provides sports and entertainment media services and telecommunications services in New Zealand and internationally.

SKY Network Television Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SKY Network Television
Historical stock prices
Current Share PriceNZ$2.29
52 Week HighNZ$2.93
52 Week LowNZ$1.66
Beta1.1
1 Month Change-10.90%
3 Month Change-4.18%
1 Year Change12.26%
3 Year Change-79.74%
5 Year Change-91.52%
Change since IPO-96.02%

Recent News & Updates

Shareholder Returns

SKTNZ MediaNZ Market
7D0%-5.7%-1.4%
1Y12.3%-20.9%-17.0%

Return vs Industry: SKT exceeded the NZ Media industry which returned -20.9% over the past year.

Return vs Market: SKT exceeded the NZ Market which returned -17% over the past year.

Price Volatility

Is SKT's price volatile compared to industry and market?
SKT volatility
SKT Average Weekly Movement4.0%
Media Industry Average Movement6.1%
Market Average Movement3.8%
10% most volatile stocks in NZ Market8.0%
10% least volatile stocks in NZ Market2.7%

Stable Share Price: SKT is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SKT's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005n/aSophie Moloneyhttps://www.sky.co.nz

SKY Network Television Limited, an entertainment company, provides sports and entertainment media services and telecommunications services in New Zealand and internationally. The company provides commercial music, broadcasting services, entertainment quizzes, and streaming and management services, as well as data analytics services for sports. It offers sport, movies, shows, documentaries, music, news, and kid’s content.

SKY Network Television Fundamentals Summary

How do SKY Network Television's earnings and revenue compare to its market cap?
SKT fundamental statistics
Market CapNZ$400.04m
Earnings (TTM)NZ$62.15m
Revenue (TTM)NZ$736.11m

6.4x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SKT income statement (TTM)
RevenueNZ$736.11m
Cost of RevenueNZ$529.17m
Gross ProfitNZ$206.95m
Other ExpensesNZ$144.80m
EarningsNZ$62.15m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.36
Gross Margin28.11%
Net Profit Margin8.44%
Debt/Equity Ratio0.2%

How did SKT perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

21%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

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 SKT?

Other financial metrics that can be useful for relative valuation.

SKT 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/Revenue0.5x
Enterprise Value/EBITDA3.3x
PEG Ratio-0.5x

Price to Earnings Ratio vs Peers

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

SKT PE Ratio vs Peers
The above table shows the PE ratio for SKT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.5x
NZM NZME
6.2x-1.8%NZ$231.1m
6184 Dafeng TV
11.7xn/aNT$7.2b
IPTV MNC Vision Networks
24xn/aRp3.7t
A037560 LG HelloVision
12x15.6%₩377.2b
SKT SKY Network Television
6.4x-12.0%NZ$400.0m

Price-To-Earnings vs Peers: SKT is good value based on its Price-To-Earnings Ratio (6.4x) compared to the peer average (13.5x).


Price to Earnings Ratio vs Industry

How does SKT's PE Ratio compare vs other companies in the Global Media Industry?

Price-To-Earnings vs Industry: SKT is good value based on its Price-To-Earnings Ratio (6.4x) compared to the Global Media industry average (13.3x)


Price to Earnings Ratio vs Fair Ratio

What is SKT'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.

SKT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.4x
Fair PE Ratio10.5x

Price-To-Earnings vs Fair Ratio: SKT is good value based on its Price-To-Earnings Ratio (6.4x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).


Share Price vs Fair Value

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

Below Fair Value: SKT (NZ$2.29) is trading below our estimate of fair value (NZ$2.31)

Significantly Below Fair Value: SKT is trading below fair value, but not by a significant amount.


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 SKY Network Television forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-12.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SKT's earnings are forecast to decline over the next 3 years (-12% per year).

Earnings vs Market: SKT's earnings are forecast to decline over the next 3 years (-12% per year).

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

Revenue vs Market: SKT's revenue (0.7% per year) is forecast to grow slower than the NZ market (5.6% per year).

High Growth Revenue: SKT's revenue (0.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SKT's Return on Equity is forecast to be low in 3 years time (11.2%).


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Past Performance

How has SKY Network Television performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SKT has a large one-off gain of NZ$13.5M impacting its June 30 2022 financial results.

Growing Profit Margin: SKT's current net profit margins (8.4%) are higher than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: SKT has become profitable over the past 5 years, growing earnings by 9.6% per year.

Accelerating Growth: SKT's earnings growth over the past year (41.4%) exceeds its 5-year average (9.6% per year).

Earnings vs Industry: SKT earnings growth over the past year (41.4%) underperformed the Media industry 41.4%.


Return on Equity

High ROE: SKT's Return on Equity (12.6%) is considered low.


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Financial Health

How is SKY Network Television's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SKT's short term assets (NZ$342.8M) exceed its short term liabilities (NZ$241.8M).

Long Term Liabilities: SKT's short term assets (NZ$342.8M) exceed its long term liabilities (NZ$40.6M).


Debt to Equity History and Analysis

Debt Level: SKT has more cash than its total debt.

Reducing Debt: SKT's debt to equity ratio has reduced from 22.5% to 0.2% over the past 5 years.

Debt Coverage: SKT's debt is well covered by operating cash flow (11559.2%).

Interest Coverage: SKT's interest payments on its debt are well covered by EBIT (14.8x coverage).


Balance Sheet


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Dividend

What is SKY Network Television current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.19%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SKT's dividend (3.19%) is higher than the bottom 25% of dividend payers in the NZ market (2.85%).

High Dividend: SKT's dividend (3.19%) is low compared to the top 25% of dividend payers in the NZ market (6.04%).


Stability and Growth of Payments

Stable Dividend: SKT's dividend payments have been volatile in the past 10 years.

Growing Dividend: SKT's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (20.5%), SKT's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (17%), SKT's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

1.0yrs

Average management tenure


CEO

Sophie Moloney

1.75yrs

Tenure

NZ$1,263,068

Compensation

Ms. Sophie Moloney serves as the Chief Executive Officer at SKY Network Television Limited since December 01, 2020. She served as the Chief Commercial Officer at SKY Network Television Limited since 2020 u...


CEO Compensation Analysis

Compensation vs Market: Sophie's total compensation ($USD728.29K) is about average for companies of similar size in the NZ market ($USD748.55K).

Compensation vs Earnings: Sophie's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SKT's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

Experienced Board: SKT's board of directors are considered experienced (3 years average tenure).


Ownership

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:SKT Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
17 Jun 22BuyNZ$456,463Osmium Partners, LLCCompany256,656NZ$1.78
17 Jun 22SellNZ$5,238,881Osmium Partners, LLCCompany1,981,477NZ$2.64
21 Apr 22SellNZ$945,000FMR LLCCompany350,000NZ$2.70
01 Mar 22BuyNZ$3,056,874Accident Compensation Corporation, Asset Management ArmCompany4,206,954NZ$0.73
01 Mar 22BuyNZ$3,056,874Accident Compensation Corporation, Asset Management ArmCompany4,206,954NZ$0.73
01 Mar 22SellNZ$8,376,319Accident Compensation Corporation, Asset Management ArmCompany10,691,020NZ$0.78
01 Mar 22SellNZ$8,376,319Accident Compensation Corporation, Asset Management ArmCompany10,691,020NZ$0.78
26 Oct 21SellNZ$1,836,178Black Crane CapitalCompany2,800,000NZ$0.66
26 Oct 21SellNZ$5,198,617UBS Asset ManagementCompany15,809,441NZ$1.86
22 Oct 21BuyNZ$1,010,822UBS Asset ManagementCompany3,702,003NZ$0.28

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 59.46% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.12%
Accident Compensation Corporation, Asset Management Arm
15,926,277NZ$36.5m9.2%0.78%
9.05%
Jupiter Fund Management Plc
15,802,241NZ$36.2m0%0.07%
7.34%
Kiltearn Partners LLP
12,820,300NZ$29.4m0%0.65%
5.81%
Osmium Partners, LLC
10,144,702NZ$23.2m-16.21%21.96%
5.49%
UBS Asset Management
9,593,621NZ$22.0m0%no data
4.93%
FMR LLC
8,617,688NZ$19.7m-3.9%no data
4.55%
Black Crane Capital
7,949,678NZ$18.2m0%21.24%
3%
The Vanguard Group, Inc.
5,232,098NZ$12.0m0.16%no data
2.1%
Dimensional Fund Advisors LP
3,675,065NZ$8.4m2.32%no data
1.93%
Mercer Global Investments Europe Limited
3,374,825NZ$7.7m0%0.02%
1.44%
RugbyPass Investors LLC
2,508,541NZ$5.7m0%no data
1.25%
New Zealand Rugby Union Incorporated
2,180,133NZ$5.0m0%no data
0.86%
Smartshares Limited
1,498,933NZ$3.4m0%0.42%
0.81%
Norges Bank Investment Management
1,421,950NZ$3.3m0%no data
0.64%
Masfen Securities Limited
1,110,000NZ$2.5m0%no data
0.45%
Evolution Cycles Ltd
794,583NZ$1.8m0%no data
0.18%
Charles Schwab Investment Management, Inc.
305,862NZ$700.4k1.93%no data
0.1%
Sophie Moloney
173,833NZ$398.1k0%no data
0.095%
Bessemer Investment Management LLC
166,813NZ$382.0k-5.95%no data
0.086%
Michael Darcey
150,000NZ$343.5k0%no data
0.075%
Acadian Asset Management LLC
131,716NZ$301.6k0%no data
0.072%
Philip Bowman
125,000NZ$286.3k0%no data
0.042%
Euro Pacific Asset Management, LLC
72,984NZ$167.1k0%0.02%
0.025%
State Street Global Advisors, Inc.
43,578NZ$99.8k21.37%no data
0.023%
Russell Investment Management, LLC
41,000NZ$93.9k0%no data

Company Information

SKY Network Television Limited's employee growth, exchange listings and data sources


Key Information

  • Name: SKY Network Television Limited
  • Ticker: SKT
  • Exchange: NZSE
  • Founded: 2005
  • Industry: Cable and Satellite
  • Sector: Media
  • Implied Market Cap: NZ$400.036m
  • Shares outstanding: 174.69m
  • Website: https://www.sky.co.nz

Location

  • SKY Network Television Limited
  • 10 Panorama Road
  • Mt Wellington
  • Auckland
  • 1060
  • New Zealand


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SKTNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDJul 2005
SKTASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJul 2005
SKTCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJul 2005
SYKW.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.