Professional
Added to YB: 2025-08-11
Pitch date: 2025-08-07
NZM.AX [bullish]
NZME Limited
+3.22%
current return
Author Info
Special Situation Investments focuses on event-driven trades and low risk arbitrage opportunities with short term catalysts. Sign up for the newsletter.
Company Info
NZME Limited, together with its subsidiaries, engages in the integrated media and entertainment business in New Zealand.
Market Cap
NZD 218.6M
Pitch Price
NZD 1.14
Price Target
1.66 (+41%)
Dividend
7.76%
EV/EBITDA
7.61
P/E
-13.50
EV/Sales
0.93
Sector
Media
Category
value
NZME: Deep Value in New Zealand Media with Hidden Real Estate Upside
NZM.AX: NZ media co (50% newspaper, 40% radio market share) trading at discount to assets. Activist Jim Grenon secured board seat & new chairman after 13.5% stake. Strategic review of OneRoof classifieds likely leads to monetization. SOTP: 6x EBITDA publishing, 4x EBITDA Audio, 3-5x sales OneRoof. FV A$1.50-1.66 vs A$1.04, ~50% upside + 8-9% dividend.
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