CONTACT ENERGY LIMITED (CEN)
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CEN - CONTACT ENERGY LIMITED

FNArena Sector : Infrastructure & Utilities

Year End: June

GICS Industry Group : Utilities

Debt/EBITDA: N/A

Index:

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$8.54 22 Aug 2025	0.000 OPEN $8.54	0.000 HIGH $8.54	1,694 LOW $8.21

OTHER COMPANIES IN THE SAME SECTOR
AGL . AIA . ALX . APA . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	31.2	xxx
DPS (cps)	19.5	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	27.3	xxx
Dividend Yield	2.3%	xxx
Div Pay Ratio(%)	62.3%	xxx

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	30.8	xxx
DPS (cps)	19.2	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	27.8	xxx
Dividend Yield	2.2%	xxx
Div Pay Ratio(%)	62.3%	xxx

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	N/A	34.2	xxx
DPS (cps)	xxx	N/A	21.3	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	62.3%	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

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: 27/08 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	27.6
DPS All	xxx	xxx	xxx	xxx	xxx	39.6
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	2,628.2 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	302.9
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	466.2 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	8.27 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	8.75 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	5.82 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	3.95 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	8.75 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	9.33 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-231.3 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	328 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1,418 M
Total Debt	xxx	xxx	xxx	xxx	xxx	1,745 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	195 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	209 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	2.71

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	468.1 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	17.81 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	2,158 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	90 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	133 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

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No. Of Recommendations

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. Login above or Get a Free Trial
UBS	24/07/2025	3	Resumes coverage with Neutral	-	-	UBS resumes coverage of Contact Energy with a Neutral rating and NZ$9.75 target price post the acquisition of Manawa Energy. Manawa Energy is expected to contribute to earnings at the start of FY26 and will boost the combined business to forecast FY26 earnings (EBITDAF) of NZ$1bn, commentary points out. Renewable generation should rise to around 98% of FY26 forecast earnings and circa 88% for FY27 forecast earnings. The acquisition should also underwrite synergy benefits over the next 18 months to corporate and head office cost outs, commentary suggests, optimising hydro management and peaking, and improved locational generation distribution. From a macro perspective, UBS highlights NZ electric utilities have had a flat performance over the past nine months and slightly under-performed the NZX50 index due to both regulatory and hydrological risks. Share price upside is likely to be limited by ongoing high long bond yields, the broker concludes. FORECAST UBS forecasts a full year FY26 dividend of 2.37 cents and EPS of 24.02 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Macquarie

xx/xx/xxxx

xxxxxxxxxx

xx.xx%

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

UBS

24/07/2025

Resumes coverage with Neutral

UBS resumes coverage of Contact Energy with a Neutral rating and NZ$9.75 target price post the acquisition of Manawa Energy.

Manawa Energy is expected to contribute to earnings at the start of FY26 and will boost the combined business to forecast FY26 earnings (EBITDAF) of NZ$1bn, commentary points out.

Renewable generation should rise to around 98% of FY26 forecast earnings and circa 88% for FY27 forecast earnings.

The acquisition should also underwrite synergy benefits over the next 18 months to corporate and head office cost outs, commentary suggests, optimising hydro management and peaking, and improved locational generation distribution.

From a macro perspective, UBS highlights NZ electric utilities have had a flat performance over the past nine months and slightly under-performed the NZX50 index due to both regulatory and hydrological risks.

Share price upside is likely to be limited by ongoing high long bond yields, the broker concludes.

FORECAST
UBS forecasts a full year FY26 dividend of 2.37 cents and EPS of 24.02 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

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No. Of Recommendations

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	19/08/2025	2	Overweight	-	-	Contact Energy delivered FY25 earnings (EBITDA) of NZ$774m, up from NZ$663m year-on-year, which Jarden calls a "solid" outcome given market volatility. FY26 guidance of NZ$980m is in line with the broker’s forecast. The analysts note the result includes the Manawa acquisition, which is expected to contribute around NZ$150m plus NZ$20m of cost and portfolio synergies. Normalised FY26 guidance is NZ$945m after transaction costs, close to Jarden’s NZ$948m estimate. A FY26 dividend of NZ40c per share exceeds the 80-100% payout range, though the policy has reverted to board discretion. The broker highlights early FY26 momentum, with July earnings (EBITDA) up NZ$12.5m year-on-year excluding Manawa, and NZ$90m in total including contributions. The Manawa portfolio is on track to deliver NZ$216-229m once synergies, contract resets and refurbishments are realised, explains the broker. The prior NZ$10.81 target price rises to NZ$10.86. Overweight rating retained. FORECAST Jarden forecasts a full year FY26 dividend of 36.53 cents and EPS of 28.77 cents. Jarden forecasts a full year FY27 dividend of 38.36 cents and EPS of 30.50 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

19/08/2025

Overweight

Contact Energy delivered FY25 earnings (EBITDA) of NZ$774m, up from NZ$663m year-on-year, which Jarden calls a "solid" outcome given market volatility. FY26 guidance of NZ$980m is in line with the broker’s forecast.

The analysts note the result includes the Manawa acquisition, which is expected to contribute around NZ$150m plus NZ$20m of cost and portfolio synergies.

Normalised FY26 guidance is NZ$945m after transaction costs, close to Jarden’s NZ$948m estimate. A FY26 dividend of NZ40c per share exceeds the 80-100% payout range, though the policy has reverted to board discretion.

The broker highlights early FY26 momentum, with July earnings (EBITDA) up NZ$12.5m year-on-year excluding Manawa, and NZ$90m in total including contributions.

The Manawa portfolio is on track to deliver NZ$216-229m once synergies, contract resets and refurbishments are realised, explains the broker.

The prior NZ$10.81 target price rises to NZ$10.86. Overweight rating retained.

FORECAST
Jarden forecasts a full year FY26 dividend of 36.53 cents and EPS of 28.77 cents.
Jarden forecasts a full year FY27 dividend of 38.36 cents and EPS of 30.50 cents.

Access Extra Coverage Research History >

CEN STOCK CHART

FNArena News on CEN

1	Australian Broker Call Extra Edition – Aug 20, 2025 Aug 20 2025 - Daily Market Reports

2	FNArena Corporate Results Monitor – 19-08-2025 Aug 19 2025 - Australia

3	Australian Broker Call Extra Edition – Aug 08, 2025 Aug 11 2025 - Daily Market Reports

4	Australian Broker Call Extra Edition – Jul 24, 2025 Jul 24 2025 - Daily Market Reports

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Dividend Yield Today On Last Actual Payout :	N/A
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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	Yield	Yield on investment
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1	Australian Broker Call Extra Edition – Aug 20, 2025 Aug 20 2025 - Daily Market Reports

2	FNArena Corporate Results Monitor – 19-08-2025 Aug 19 2025 - Australia

3	Australian Broker Call Extra Edition – Aug 08, 2025 Aug 11 2025 - Daily Market Reports

4	Australian Broker Call Extra Edition – Jul 24, 2025 Jul 24 2025 - Daily Market Reports

5	Australian Broker Call Extra Edition – Jul 10, 2025 Jul 10 2025 - Daily Market Reports

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CONTACT ENERGY LIMITED (CEN)
Share Price Analysis and Chart