Mercury NZ Limited, together with its subsidiaries, engages in the production, trading, and sale of electricity and related activities in New Zealand.
Adequate balance sheet with proven track record.
Share Price & News
How has Mercury NZ's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MCY's share price has been volatile over the past 3 months.
7 Day Return
NZ Electric Utilities
1 Year Return
NZ Electric Utilities
Return vs Industry: MCY exceeded the NZ Electric Utilities industry which returned -9.4% over the past year.
Return vs Market: MCY exceeded the NZ Market which returned -7.7% over the past year.
Price Volatility Vs. Market
How volatile is Mercury NZ's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StIs Mercury NZ Limited's (NZSE:MCY) 9.6% ROE Better Than Average?
3 weeks ago | Simply Wall StMercury NZ Limited (NZSE:MCY) Stock Goes Ex-Dividend In Just 4 Days
3 weeks ago | Simply Wall StCan We See Significant Institutional Ownership On The Mercury NZ Limited (NZSE:MCY) Share Register?
Is Mercury NZ undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MCY (NZ$4.22) is trading above our estimate of fair value (NZ$3.15)
Significantly Below Fair Value: MCY is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MCY is good value based on its PE Ratio (17.1x) compared to the Electric Utilities industry average (27.6x).
PE vs Market: MCY is poor value based on its PE Ratio (17.1x) compared to the NZ market (15x).
Price to Earnings Growth Ratio
PEG Ratio: MCY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MCY is overvalued based on its PB Ratio (1.6x) compared to the NZ Electric Utilities industry average (1.5x).
How is Mercury NZ forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MCY's earnings are forecast to decline over the next 3 years (-3.9% per year).
Earnings vs Market: MCY's earnings are forecast to decline over the next 3 years (-3.9% per year).
High Growth Earnings: MCY's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MCY's revenue (0.6% per year) is forecast to grow slower than the NZ market (6.5% per year).
High Growth Revenue: MCY'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: MCY's Return on Equity is forecast to be low in 3 years time (5.6%).
How has Mercury NZ performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MCY has a large one-off gain of NZ$177.0M impacting its December 31 2019 financial results.
Growing Profit Margin: MCY's current net profit margins (18.2%) are higher than last year (10.8%).
Past Earnings Growth Analysis
Earnings Trend: MCY's earnings have grown significantly by 27.4% per year over the past 5 years.
Accelerating Growth: MCY's earnings growth over the past year (62.3%) exceeds its 5-year average (27.4% per year).
Earnings vs Industry: MCY earnings growth over the past year (62.3%) exceeded the Electric Utilities industry -20.7%.
Return on Equity
High ROE: MCY's Return on Equity (9.6%) is considered low.
How is Mercury NZ's financial position?
Financial Position Analysis
Short Term Liabilities: MCY's short term assets (NZ$362.0M) do not cover its short term liabilities (NZ$633.0M).
Long Term Liabilities: MCY's short term assets (NZ$362.0M) do not cover its long term liabilities (NZ$2.3B).
Debt to Equity History and Analysis
Debt Level: MCY's debt to equity ratio (33.9%) is considered satisfactory.
Reducing Debt: MCY's debt to equity ratio has reduced from 37.8% to 33.9% over the past 5 years.
Debt Coverage: MCY's debt is well covered by operating cash flow (28.3%).
Interest Coverage: MCY's interest payments on its debt are well covered by EBIT (3.9x coverage).
Inventory Level: MCY has a high level of physical assets or inventory.
Debt Coverage by Assets: MCY's debt is not covered by short term assets (assets are 0.3x debt).
What is Mercury NZ's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MCY's dividend (3.67%) is higher than the bottom 25% of dividend payers in the NZ market (3.61%).
High Dividend: MCY's dividend (3.67%) is low compared to the top 25% of dividend payers in the NZ market (8.01%).
Stability and Growth of Payments
Stable Dividend: MCY has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: MCY's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (63.7%), MCY's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MCY's dividends in 3 years are not forecast to be well covered by earnings (111.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Mercury NZ has no CEO, or we have no data on them.
|Independent Director||10.83yrs||NZ$124.00k||0.0014% NZ$80.9k|
|Independent Non-Executive Director||6yrs||NZ$108.00k||0.0029% NZ$165.8k|
|Independent Director||2.42yrs||NZ$106.67k||0.0033% NZ$190.6k|
|Independent Non-Executive Director||5.67yrs||NZ$106.00k||0.00024% NZ$13.9k|
|Independent Non-Executive Director||7.83yrs||NZ$117.50k||0.0030% NZ$171.0k|
|Independent Chairman||0.42yr||NZ$122.00k||0.0019% NZ$112.1k|
|Independent Director||4.58yrs||NZ$106.00k||0.00016% NZ$9.2k|
|Independent Director||no data||no data||no data|
Experienced Board: MCY's board of directors are considered experienced (5.7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MCY insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Mercury NZ Limited's company bio, employee growth, exchange listings and data sources
- Name: Mercury NZ Limited
- Ticker: MCY
- Exchange: NZSE
- Founded: 1998
- Industry: Electric Utilities
- Sector: Utilities
- Market Cap: NZ$5.776b
- Shares outstanding: 1.36b
- Website: https://www.mercury.co.nz
Number of Employees
- Mercury NZ Limited
- 33 Broadway
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MCY||NZSE (New Zealand Stock Exchange)||Yes||Ordinary Shares||NZ||NZD||May 2013|
|MCY||ASX (Australian Securities Exchange)||Yes||Ordinary Shares||AU||AUD||May 2013|
|MRY||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||May 2013|
|MGHT.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||May 2013|
|MCY||CHIA (Chi-X Australia)||Yes||Ordinary Shares||AU||AUD||May 2013|
Mercury NZ Limited, together with its subsidiaries, engages in the production, trading, and sale of electricity and related activities in New Zealand. The company operates through Energy Markets and Others segments. It operates nine hydro generation stations on the Waikato River; and five geothermal generation stations in the central North Island. The company sells electricity to residential, commercial, and industrial customers through the GLOBUG and Bosco brands. It also provides piped natural gas; and sells solar equipment. The company was formerly known as Mighty River Power Limited and changed its name to Mercury NZ Limited in July 2016. Mercury NZ Limited was founded in 1998 and is based in Auckland, New Zealand.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/31 10:50|
|End of Day Share Price||2020/03/31 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.