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

$2.10

17 Sep
2025

0.000

OPEN

$2.11

0.000

HIGH

$2.11

1,584,118

LOW

$2.09

OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . MAQ . SLC . ST1 . TLS . TPG . TPG . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
SPK: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 11.8 xxx
DPS (cps) 14.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 17.9 xxx
Dividend Yield 7.1% xxx
Div Pay Ratio(%) 126.0% 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: 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: 12/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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%

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Morgan Stanley

22/08/2025

5

Downgrade to Underweight from Equal-weight

-

-

Morgan Stanley lowers its target price for Spark New Zealand to NZ$2.20 from NZ$2.75 and downgrades to Underweight from Equal-weight, following FY25 results. Industry View: In-Line.

The results confirmed to the broker declining core telco earnings, with FY26 earnings (EBITDA) guidance implying no growth.

Morgan Stanley notes the sale of -75% of Spark’s data centre business will cut debt and ease funding needs but at the cost of lower long-term growth.

The analysts point to ongoing structural pressures on legacy telco earnings, combined with the capital intensity of data centres, leave little room to both fund dividends and invest in growth.

Management cut its FY26 dividend outlook to around NZ17c from NZ25c in FY25. The broker expects debate on whether Spark can grow dividends beyond FY26, but sees risk to future payouts in FY27-28. 

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 14.59 cents and EPS of 12.13 cents.
Morgan Stanley forecasts a full year FY27 dividend of 15.50 cents and EPS of 14.77 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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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

16/09/2025

2

Overweight

-

-

Spark New Zealand used its investor day to provide more detail on the SPK-30 strategy, which Jarden views as centred on core connectivity.

The broker highlights priorities in maintaining leadership in mobile, stabilising broadband margins, and managing legacy headwinds in business connectivity.

Financial targets to 2030 include low single-digit earnings (EBITDA) growth and return on invested capital (ROIC) of 11-13%. The analysts see these as realistic, given competition and legacy challenges.

Capex remains targeted at 10-12% of revenue with additional cost-out flagged beyond 2027.

The broker sees potential upside if non-core IT assets are exited at attractive valuations. It's felt the focus on stable and predictable earnings to be rewarded over time.

Jarden retains an Overweight rating and a NZ$2.82 target price.

FORECAST
Jarden forecasts a full year FY26 dividend of 15.50 cents and EPS of 11.31 cents.
Jarden forecasts a full year FY27 dividend of 16.41 cents and EPS of 13.95 cents.
Access Extra Coverage Research History >

SPK STOCK CHART

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Australian Broker Call *Extra* Edition – Aug 25, 2025

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FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
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Australian Broker Call *Extra* Edition – Aug 18, 2025 (Extra)

Aug 18 2025 - Daily Market Reports

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