CHORUS LIMITED (CNU)
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CNU

CNU - CHORUS LIMITED

FNArena Sector : Telecommunication
Year End: June
GICS Industry Group : Telecommunication Services
Debt/EBITDA: 6.56
Index: ASX200 | ASX300 | ALL-ORDS

Chorus is New Zealand’s largest fixed-line telecommunications infrastructure company, providing fibre and copper network access to retail service providers. It was demerged from Telecom New Zealand in 2011.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.39

27 Aug
2026

-0.070

OPEN

$7.52

-0.94%

HIGH

$7.65

923,014

LOW

$7.38

OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . ESK . MAQ . SLC . SPK . TLS . TPG . TPG . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
CNU: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 15.3 xxx
DPS (cps) 53.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 48.3 xxx
Dividend Yield 7.2% xxx
Div Pay Ratio(%) 345.3% 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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: 16/03 - (franking ex-div 17.26c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx7.4
DPS All xxxxxxxxxxxxxxx51.8
Sales/Revenue xxxxxxxxxxxxxxx888.4 M
Book Value Per Share xxxxxxxxxxxxxxx194.9
Net Operating Cash Flow xxxxxxxxxxxxxxx501.6 M
Net Profit Margin xxxxxxxxxxxxxxx3.60 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx4.66 %
Return on Invested Capital xxxxxxxxxxxxxxx0.67 %
Return on Assets xxxxxxxxxxxxxxx0.56 %
Return on Equity xxxxxxxxxxxxxxx4.66 %
Return on Total Capital xxxxxxxxxxxxxxx4.98 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-40.6 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 xxxxxxxxxxxxxxx125 M
Long Term Debt xxxxxxxxxxxxxxx3,986 M
Total Debt xxxxxxxxxxxxxxx4,111 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx163 M
Price To Book Value xxxxxxxxxxxxxxx4.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx322.9 M
Capex % of Sales xxxxxxxxxxxxxxx36.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx555 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx85 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx191 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

0.5

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

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Macquarie

12/08/2026

1

Outperform

-

-

FY26 should confirm that Chorus has transitioned from the heavy-build phase into a cleaner, fibre led infrastructure model with better earnings visibility, rising dividend capacity, and declining copper complexity, Macquarie believes.

The result is unlikely to change the investment case materially, but it should reinforce the core thesis: modest revenue growth can translate into stronger reported earnings as fibre pricing, speed migration, cost discipline and lower depreciation do the heavy lifting.

With copper depreciation falling away further, annual fibre price increases embedded, and copper retirements largely complete in Chorus fibre areas, FY27 should make the operating leverage of the simplified model more visible, Macquarie suggests.

Outperform and NZ$10.26 target retained.

FORECAST
Macquarie forecasts a full year FY27 dividend of 52.57 cents and EPS of 19.67 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

20/04/2026

4

Underweight

$7.452

0.84%

Jarden maintains an Underweight rating and NZ$8.43 target price for Chorus following a 3Q26 quarterly connections update.

Total connections turned positive for the first time in 13 years as fibre growth outpaced copper declines.

The company brought forward its planned copper network closure to December 2028. While fibre penetration reached 76.2% in Auckland, the broker highlights work remains required to meet the FY30 target.

The report highlights a potential slowdown in new build activity, with quarterly fibre premises passed falling below recent averages.

FORECAST
Jarden forecasts a full year FY27 dividend of 52.15 cents and EPS of 14.75 cents.
Jarden forecasts a full year FY28 dividend of 53.42 cents and EPS of 16.87 cents.
Access Extra Coverage Research History >

CNU STOCK CHART

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