SPARK NEW ZEALAND LIMITED (SPK)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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 FY26
Forecast		 FY27
Forecast
EPS (cps) 11.0 xxx
DPS (cps) 14.2 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 14.1 xxx
Dividend Yield 9.2% xxx
Div Pay Ratio(%) 129.1% 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: 4.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 13.34

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: 09/09 - (franking ex-div 10.99c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx12.8
DPS All xxxxxxxxxxxxxxx25.8
Sales/Revenue xxxxxxxxxxxxxxx3,304.7 M
Book Value Per Share xxxxxxxxxxxxxxx74.5
Net Operating Cash Flow xxxxxxxxxxxxxxx613.9 M
Net Profit Margin xxxxxxxxxxxxxxx6.96 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx16.08 %
Return on Invested Capital xxxxxxxxxxxxxxx7.36 %
Return on Assets xxxxxxxxxxxxxxx5.46 %
Return on Equity xxxxxxxxxxxxxxx16.08 %
Return on Total Capital xxxxxxxxxxxxxxx9.16 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-62.9 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 xxxxxxxxxxxxxxx481 M
Long Term Debt xxxxxxxxxxxxxxx1,695 M
Total Debt xxxxxxxxxxxxxxx2,176 M
Goodwill - Gross xxxxxxxxxxxxxxx258 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx31 M
Price To Book Value xxxxxxxxxxxxxxx3.02

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx401.3 M
Capex % of Sales xxxxxxxxxxxxxxx12.14 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,709 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx266 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx81 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%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

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%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

FNArena News on SPK

1
Rudi’s View: Diversified Asset Allocators

Jun 11 2026 - Rudi's View
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 15-05-26

May 15 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – May 14, 2026

May 14 2026 - Daily Market Reports
4
Rudi’s View: Stagflation, No Recession

Apr 30 2026 - Rudi's View
5
Rudi’s View: Best Buys & Conviction Calls

Apr 23 2026 - Rudi's View

Latest Telecommunication News

1
Aussie Broadband’s Scale-Up Potential

Jun 18 2026 - Small Caps
2
Next Week At A Glance – 8-12 Jun 2026

Jun 05 2026 - Weekly Reports
3
Superloop’s Comeback Post FY25 Disappointment

Sep 19 2025 - Australia
4
Re-Rating Aussie Broadband’s Growth Outlook

Sep 04 2025 - Small Caps
5
Buybacks, Dividends Define Telstra’s Future

Aug 18 2025 - Australia
6
Telstra Shares Enjoying Firm Up-Trend

Jul 17 2025 - Technicals
7
In Brief: Austal, Superloop, Motorcycle Holdings & Nanosonics

Jul 04 2025 - Weekly Reports
8
Telstra Targets Sustainable, Growing Dividends

May 30 2025 - Australia
9
In Brief: Superloop, Woolworths & Ampol In Focus

May 16 2025 - Weekly Reports
10
In Brief: Telstra Re-Rating, MinRes & MAC Copper

May 02 2025 - Weekly Reports