AIR NEW ZEALAND LIMITED (AIZ)
Share Price Analysis and Chart

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AIZ

AIZ - AIR NEW ZEALAND LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 3.2
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.51

03 Feb
2026

0.010

OPEN

$0.50

2.00%

HIGH

$0.51

348,863

LOW

$0.49

OTHER COMPANIES IN THE SAME SECTOR
ACE . AQZ . AVD . AZJ . BWN . BXB . CLX . ERD . KLS . KSC . LAU . NTD . QAN . QUB . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
AIZ: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 0.9 xxx
DPS (cps) 0.9 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 55.6 xxx
Dividend Yield 1.8% xxx
Div Pay Ratio(%) 100.0% 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: 2.98%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.30

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: 11/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.4
DPS All xxxxxxxxxxxxxxx2.3
Sales/Revenue xxxxxxxxxxxxxxx6,161.6 M
Book Value Per Share xxxxxxxxxxxxxxx54.5
Net Operating Cash Flow xxxxxxxxxxxxxxx857.4 M
Net Profit Margin xxxxxxxxxxxxxxx1.87 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx6.32 %
Return on Invested Capital xxxxxxxxxxxxxxx3.01 %
Return on Assets xxxxxxxxxxxxxxx1.45 %
Return on Equity xxxxxxxxxxxxxxx6.32 %
Return on Total Capital xxxxxxxxxxxxxxx3.59 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx61.1 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx740 M
Long Term Debt xxxxxxxxxxxxxxx1,889 M
Total Debt xxxxxxxxxxxxxxx2,629 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,330 M
Price To Book Value xxxxxxxxxxxxxxx0.99

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx711.5 M
Capex % of Sales xxxxxxxxxxxxxxx11.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx5,311 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx691 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx445 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

0.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

29/08/2025

5

Downgrade to Sell from Neutral

-

-

Air New Zealand's FY25 release has triggered a downgrade from UBS to Sell from Neutral. The broker's valuation has shrunk to NZ55c from NZ63c prior.

Higher operating costs and depreciation have triggered a chainsaw treatment for earnings and dividend forecasts. The broker is also citing delayed capacity recovery and higher airport charges into FY28–FY30.

As for the result itself, FY25 underlying pre-tax profit came in at NZ$189m, broadly in line with UBS, as aircraft availability issues and higher non-fuel costs were partly offset by NZ$129m in engine compensation.

The NZ$62m buyback continues. UBS adds the shares are still trading at a P/E premium to Qantas and Virgin.

FORECAST
UBS forecasts a full year FY26 dividend of 1.80 cents and EPS of 1.80 cents.
UBS forecasts a full year FY27 dividend of 1.80 cents and EPS of 3.60 cents.
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

30/01/2026

4

Underweight

-

-

Jarden's forecast for Air New Zealand's 1H26 net loss of -NZ$43m sits around the midpoint of guidance. The broker notes underlying profitability remains weak even on a full-fleet basis, highlighting the impact of higher competition, cost pressures and soft demand.

With domestic yields having peaked and competitor capacity returning across international and domestic markets, the broker sees growing pressure on pricing and margins.

Underweight rating and NZ55c target. The broker flags downside risks to its forecasts, given structural opex increases and limited scope for yield recovery.

FORECAST
Jarden forecasts a full year FY26 dividend of 2.25 cents and EPS of 0.63 cents.
Jarden forecasts a full year FY27 dividend of 2.25 cents and EPS of 2.79 cents.
Access Extra Coverage Research History >

AIZ STOCK CHART

FNArena News on AIZ

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