SPARK NEW ZEALAND LIMITED (SPK)
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SPK

SPK - SPARK NEW ZEALAND LIMITED

FNArena Sector : Telecommunication
Year End: June
GICS Industry Group : Telecommunication Services
Debt/EBITDA: 2.51
Index: ASX300 | ALL-ORDS

Spark New Zealand, formerly Telecom New Zealand, provides fixed line, mobile and internet services to New Zealand customers. It has been listed on the ASX and NZX since 1991.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.515

25 Jun
2026

0.065

OPEN

$1.49

4.48%

HIGH

$1.55

2,650,391

LOW

$1.49

OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . MAQ . SLC . TLS . TPG . TPG . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
SPK: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 11.0 xxx
DPS (cps) 14.3 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 14.8 xxx
Dividend Yield 8.8% xxx
Div Pay Ratio(%) 130.4% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 2.92%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.93

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 10/09 - (franking ex-div 6.15c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx22.8
DPS All xxxxxxxxxxxxxxx15.0
Sales/Revenue xxxxxxxxxxxxxxx3,140.1 M
Book Value Per Share xxxxxxxxxxxxxxx71.5
Net Operating Cash Flow xxxxxxxxxxxxxxx896.2 M
Net Profit Margin xxxxxxxxxxxxxxx13.36 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx30.40 %
Return on Invested Capital xxxxxxxxxxxxxxx14.42 %
Return on Assets xxxxxxxxxxxxxxx10.87 %
Return on Equity xxxxxxxxxxxxxxx30.40 %
Return on Total Capital xxxxxxxxxxxxxxx10.06 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx238.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx236 M
Long Term Debt xxxxxxxxxxxxxxx1,366 M
Total Debt xxxxxxxxxxxxxxx1,603 M
Goodwill - Gross xxxxxxxxxxxxxxx228 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx129 M
Price To Book Value xxxxxxxxxxxxxxx2.15

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx323.8 M
Capex % of Sales xxxxxxxxxxxxxxx10.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,595 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx216 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx148 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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Morgan Stanley

19/02/2026

5

Underweight

-

-

Morgan Stanley keeps Spark New Zealand on Underweight (Industry view In-Line) and cuts its price target to NZ$1.90 from NZ$2.20 (-14%) after a 1H result it says was modestly shy of expectations.

The broker notes 1H FY26 revenue/EBITDA/NPAT are -2% to -5% below expectations, but FY26 guidance is maintained and implies flat EBITDA.

Dividend risk beyond FY26 remains the key debate, with Morgan Stanley expecting flat 17c DPS through FY28 as Spark already pays out about 100% of free cash flow while facing ongoing capex (eg spectrum) and potential data-centre capital calls (25% owned).

Morgan Stanley argues the legacy telco earnings base is structurally challenged by technology and competition, leaving limited scope to grow free cash flow meaningfully while also funding the data-centre investment.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 14.67 cents and EPS of 11.22 cents.
Morgan Stanley forecasts a full year FY27 dividend of 14.67 cents and EPS of 12.51 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

26/06/2026

2

Upgrade to Overweight from Neutral

-

-

Jarden upgrades its rating for Spark New Zealand to Overweight with a NZ$2.27 target price following recent share price underperformance.

The analyst notes a compelling valuation entry level has emerged after shares dropped 14% compared to a 2% rise across the broader market index.

Growing overall earnings looks difficult given legacy pressures across the business, particularly concerning broadband gross margins.

Future dividend growth appears unlikely unless capital expenditure is meaningfully reduced.

Mobile divisions remain a constructive earnings lever, leaving group profitability highly dependent on continued benign regulatory conditions.
Access Extra Coverage Research History >

SPK STOCK CHART

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