CNU Stock Overview
Chorus Limited, together with its subsidiaries, provides fixed line communications infrastructure services in New Zealand.
Price History & Performance
|Historical stock prices|
|Current Share Price||NZ$7.60|
|52 Week High||NZ$8.15|
|52 Week Low||NZ$6.18|
|1 Month Change||-4.52%|
|3 Month Change||6.00%|
|1 Year Change||13.01%|
|3 Year Change||49.90%|
|5 Year Change||96.64%|
|Change since IPO||136.76%|
Recent News & Updates
Chorus' (NZSE:CNU) Dividend Will Be Increased To NZ$0.21
The board of Chorus Limited ( NZSE:CNU ) has announced that it will be paying its dividend of NZ$0.21 on the 11th of...
Chorus (NZSE:CNU) Will Pay A Larger Dividend Than Last Year At NZ$0.21
The board of Chorus Limited ( NZSE:CNU ) has announced that it will be paying its dividend of NZ$0.21 on the 11th of...
|CNU||NZ Telecom||NZ Market|
Return vs Industry: CNU exceeded the NZ Telecom industry which returned -6.3% over the past year.
Return vs Market: CNU exceeded the NZ Market which returned -19.7% over the past year.
|CNU Average Weekly Movement||2.4%|
|Telecom Industry Average Movement||7.0%|
|Market Average Movement||3.9%|
|10% most volatile stocks in NZ Market||7.8%|
|10% least volatile stocks in NZ Market||2.9%|
Stable Share Price: CNU is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: CNU's weekly volatility (2%) has been stable over the past year.
About the Company
Chorus Limited, together with its subsidiaries, provides fixed line communications infrastructure services in New Zealand. It offers phone and broadband services for residential and business customers; and high-speed digital subscriber line broadband services. The company builds and maintains a network of fibre and copper cables, local telephone exchanges, and cabinets.
Chorus Fundamentals Summary
|CNU fundamental statistics|
Is CNU overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|CNU income statement (TTM)|
|Cost of Revenue||NZ$270.00m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||0.14|
|Net Profit Margin||6.63%|
How did CNU perform over the long term?See historical performance and comparison
4.6%Current Dividend Yield
Is CNU undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 2/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for CNU?
Other financial metrics that can be useful for relative valuation.
|What is CNU's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does CNU's PE Ratio compare to its peers?
|CNU PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
SPK Spark New Zealand
YAHSAT Al Yah Satellite Communication Company PJSC
CCOI Cogent Communications Holdings
TIMECOM TIME dotCom Berhad
Price-To-Earnings vs Peers: CNU is expensive based on its Price-To-Earnings Ratio (53x) compared to the peer average (29.9x).
Price to Earnings Ratio vs Industry
How does CNU's PE Ratio compare vs other companies in the Global Telecom Industry?
Price-To-Earnings vs Industry: CNU is expensive based on its Price-To-Earnings Ratio (53x) compared to the Global Telecom industry average (15.9x)
Price to Earnings Ratio vs Fair Ratio
What is CNU'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.
|Current PE Ratio||53x|
|Fair PE Ratio||39.9x|
Price-To-Earnings vs Fair Ratio: CNU is expensive based on its Price-To-Earnings Ratio (53x) compared to the estimated Fair Price-To-Earnings Ratio (39.9x).
Share Price vs Fair Value
What is the Fair Price of CNU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: CNU (NZ$7.6) is trading below our estimate of fair value (NZ$18.25)
Significantly Below Fair Value: CNU 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 lower than the current share price.
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How is Chorus forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Future Growth Score2/6
Future Growth Score 2/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CNU's forecast earnings growth (8.3% per year) is above the savings rate (2.1%).
Earnings vs Market: CNU's earnings (8.3% per year) are forecast to grow faster than the NZ market (5.8% per year).
High Growth Earnings: CNU's earnings are forecast to grow, but not significantly.
Revenue vs Market: CNU's revenue (0.6% per year) is forecast to grow slower than the NZ market (5.6% per year).
High Growth Revenue: CNU's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CNU's Return on Equity is forecast to be low in 3 years time (11.4%).
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How has Chorus performed over the past 5 years?
Past Performance Score4/6
Past Performance Score 4/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CNU has high quality earnings.
Growing Profit Margin: CNU's current net profit margins (6.6%) are higher than last year (5.3%).
Past Earnings Growth Analysis
Earnings Trend: CNU's earnings have declined by 14% per year over the past 5 years.
Accelerating Growth: CNU's earnings growth over the past year (25.5%) exceeds its 5-year average (-14% per year).
Earnings vs Industry: CNU earnings growth over the past year (25.5%) exceeded the Telecom industry -9.1%.
Return on Equity
High ROE: CNU's Return on Equity (6.2%) is considered low.
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How is Chorus's financial position?
Financial Health Score0/6
Financial Health Score 0/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: CNU's short term assets (NZ$249.0M) do not cover its short term liabilities (NZ$494.0M).
Long Term Liabilities: CNU's short term assets (NZ$249.0M) do not cover its long term liabilities (NZ$4.3B).
Debt to Equity History and Analysis
Debt Level: CNU's net debt to equity ratio (287.4%) is considered high.
Reducing Debt: CNU's debt to equity ratio has increased from 216.4% to 295.9% over the past 5 years.
Debt Coverage: CNU's debt is not well covered by operating cash flow (18.7%).
Interest Coverage: CNU's interest payments on its debt are not well covered by EBIT (1.7x coverage).
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What is Chorus's current dividend yield, its reliability and sustainability?
Dividend Score 2/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Chorus Dividend Yield vs Market|
|Market Bottom 25% (NZ)||2.9%|
|Market Top 25% (NZ)||6.3%|
|Industry Average (Telecom)||5.3%|
|Analyst forecast in 3 Years (Chorus)||6.3%|
Notable Dividend: CNU's dividend (4.61%) is higher than the bottom 25% of dividend payers in the NZ market (2.91%).
High Dividend: CNU's dividend (4.61%) is low compared to the top 25% of dividend payers in the NZ market (6.3%).
Stability and Growth of Payments
Stable Dividend: CNU's dividend payments have been volatile in the past 10 years.
Growing Dividend: CNU's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (245%), CNU's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (312.3%), CNU's dividend payments are not 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
Mr. Jean-Baptiste B. Rousselot, also known as JB, has been Chief Executive Officer of Chorus Limited since November 20, 2019. Mr. Rousselot, had been a Director of Chorus Limited since November 20, 2019 u...
CEO Compensation Analysis
|JB Rousselot's Compensation vs Chorus Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||NZ$2m||NZ$1m|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||n/a||n/a|
|Sep 30 2021||n/a||n/a|
|Jun 30 2021||NZ$2m||NZ$1m|
|Mar 31 2021||n/a||n/a|
|Dec 31 2020||n/a||n/a|
|Sep 30 2020||n/a||n/a|
|Jun 30 2020||NZ$2m||NZ$764k|
Compensation vs Market: JB's total compensation ($USD1.37M) is about average for companies of similar size in the NZ market ($USD1.45M).
Compensation vs Earnings: JB's compensation has been consistent with company performance over the past year.
Experienced Management: CNU's management team is considered experienced (4.1 years average tenure).
Experienced Board: CNU's board of directors are considered experienced (5.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CNU insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|22 Sep 22||BuyNZ$557||Morgan Stanley, Investment Banking and Brokerage Investments||Company||74||NZ$7.53|
|21 Sep 22||BuyNZ$23,836||First Sentier Investors (Australia) IM Ltd||Company||3,193||NZ$7.47|
|21 Sep 22||BuyNZ$587,631||Morgan Stanley, Investment Banking and Brokerage Investments||Company||77,782||NZ$7.55|
|21 Sep 22||SellNZ$93,243||First Sentier Investors (Australia) IM Ltd||Company||12,519||NZ$7.45|
|21 Sep 22||SellNZ$996,840||Morgan Stanley, Investment Banking and Brokerage Investments||Company||132,254||NZ$7.54|
|20 Sep 22||BuyNZ$112,655||Mitsubishi UFJ Trust and Banking Corporation, Asset Management Arm||Company||14,830||NZ$7.60|
|16 Sep 22||BuyNZ$99,604||Eaton Vance Management||Company||14,836||NZ$6.71|
|16 Sep 22||BuyNZ$2,274,557||Morgan Stanley, Investment Banking and Brokerage Investments||Company||294,573||NZ$7.72|
|14 Sep 22||BuyNZ$1,383,500||Morgan Stanley, Investment Banking and Brokerage Investments||Company||176,334||NZ$7.85|
|14 Sep 22||SellNZ$1,410,889||Morgan Stanley, Investment Banking and Brokerage Investments||Company||179,450||NZ$7.86|
|09 Sep 22||SellNZ$29,900||First Sentier Investors (Australia) IM Ltd||Company||3,761||NZ$7.95|
|07 Sep 22||BuyNZ$595,285||First Sentier Investors (Australia) IM Ltd||Company||74,351||NZ$8.01|
|06 Sep 22||BuyNZ$665,974||Morgan Stanley, Investment Banking and Brokerage Investments||Company||83,927||NZ$8.14|
|31 Aug 22||BuyNZ$40,070||Miriam Dean||Individual||5,000||NZ$8.01|
|30 Aug 22||BuyNZ$19,499,117||Morgan Stanley, Investment Banking and Brokerage Investments||Company||2,494,995||NZ$8.47|
|30 Aug 22||SellNZ$24,219,429||Morgan Stanley, Investment Banking and Brokerage Investments||Company||2,922,915||NZ$8.84|
|29 Aug 22||SellNZ$4,061,401||First Sentier Investors (Australia) IM Ltd||Company||513,176||NZ$7.92|
|24 Aug 22||BuyNZ$1,135,782||First Sentier Investors (Australia) IM Ltd||Company||152,481||NZ$7.74|
|18 Aug 22||BuyNZ$209||Morgan Stanley Investment Management Inc.||Company||24||NZ$8.72|
|04 Aug 22||SellNZ$4,032||Morgan Stanley Investment Management Inc.||Company||450||NZ$8.96|
|15 Jul 22||BuyNZ$362,845||Eaton Vance Management||Company||47,836||NZ$7.59|
|29 Jun 22||BuyNZ$26,269,781||Morgan Stanley, Investment Banking and Brokerage Investments||Company||3,575,855||NZ$7.43|
|19 Apr 22||BuyNZ$117,817||Morgan Stanley, Investment Banking and Brokerage Investments||Company||15,977||NZ$7.37|
|19 Apr 22||SellNZ$195,292||Morgan Stanley, Investment Banking and Brokerage Investments||Company||26,473||NZ$7.38|
|23 Feb 22||BuyNZ$38,190||Sue Bailey||Individual||5,000||NZ$7.64|
|23 Feb 22||SellNZ$115,583||Andrew Carroll||Individual||15,000||NZ$7.71|
|12 Oct 21||BuyNZ$43,439||Kate Jorgensen||Individual||6,738||NZ$6.45|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Chorus Limited's employee growth, exchange listings and data sources
- Name: Chorus Limited
- Ticker: CNU
- Exchange: NZSE
- Founded: 2008
- Industry: Alternative Carriers
- Sector: Telecom
- Implied Market Cap: NZ$3.390b
- Shares outstanding: 446.11m
- Website: https://www.chorus.co.nz
Number of Employees
- Chorus Limited
- 1 Willis Street
- Level 10
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CNU||NZSE (New Zealand Stock Exchange)||Yes||Ordinary Shares||NZ||NZD||Nov 2011|
|CNU||ASX (Australian Securities Exchange)||Yes||Ordinary Shares||AU||AUD||Nov 2011|
|7CH||BST (Boerse-Stuttgart)||Yes||Ordinary Shares||DE||EUR||Nov 2011|
|CHRU.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Nov 2011|
|7CH||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Nov 2011|
|CNU||CHIA (Chi-X Australia)||Yes||Ordinary Shares||AU||AUD||Nov 2011|
|CHRY.Y||OTCPK (Pink Sheets LLC)||SPONSORED ADS||US||USD||Nov 2011|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/10/01 00:00|
|End of Day Share Price||2022/09/30 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.