Mercury NZ Ltd MCY

Stock XASX Rating as of Oct 28, 2026

A$5.35 −0.12 (2.11%)

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As of Oct 28, 2026, 4:47:26 AM Delayed Price Closed

Company Report

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Mercury NZ: New Supply and Lake Storage Offset One of the Driest Quarters on Record

Adrian Atkins Oct 14, 2026

Mercury NZ’s first-quarter fiscal 2027 trading margin rose 19% year on year to NZD 445 million, despite one of the driest quarters on record for its Waikato hydro catchment. Management says it remains on track to deliver fiscal 2027 EBITDAF guidance of NZD 1,075 million, flat on last year.

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Price vs Fair Value

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MCY is trading at a LOCK|#m^tRD premium.

Price

A$5.34

Oct 28, 2026

Fair Value

B.W

Oct 14, 2026

Uncertainty

LOCK|CD^!Y

1-Star Price: LOCK|#jL
5-Star Price: LOCK|<#!
Economic Moat: LOCK|%bZr
Capital Allocation: LOCK|<WJ?WpB

Bulls Say, Bears Say

Bulls

Mercury is a low-cost provider of electricity attributed to its significant renewable assets.

Bears

A competitive retail environment weighs on pricing in the near term.

Trading Information

Previous Close Price: A$5.46
Day Range: A$5.30–5.50
52-Week Range: A$4.96–5.93
Bid/Ask: A$5.30 / A$5.56
Shares Outstanding: 1.44B
Market Cap: A$7.62B
Volume/Avg: 14,008 / 5,720

Key Statistics

Price/Earnings (Normalized): 22.62
Price/Sales: 2.72
Dividend Yield (Trailing): 4.11%
Dividend Yield (Forward): 4.11%
Dividend Payment Schedule: Apr, Sep
Total Yield: 4.11%

Company Profile

Mercury NZ (formerly Mighty River Power) generates more than 15% of New Zealand's electricity and is one of the four major electricity generators and suppliers in the country. All electricity is generated from renewable sources, which makes it one of the lowest-cost providers of electricity. The company operates nine hydro stations and five geothermal power plants in the North Island and some wind farms. Mercury sells electricity to residential and commercial customers and has the largest share of the key Auckland market.

Sector: Utilities
Industry: Utilities - Renewable
Stock Style Box: Mid Core
Total Number of Employees: 1,335
Website: https://www.mercury.co.nz

Competitors

Valuation

Metric	MCY	GNE	MEL
Price/Earnings (Normalized)	22.62	17.73	50.39
Price/Book Value	1.76	1.04	1.50
Price/Sales	2.72	0.98	3.84
Price/Cash Flow	11.52	6.13	18.28

Price/Earnings

MCY

GNE

MEL

Financial Strength

Metric	MCY	GNE	MEL
Quick Ratio	0.58	0.46	0.93
Current Ratio	0.96	0.86	1.15
Interest Coverage	4.33	1.78	1.65

Quick Ratio

MCY

GNE

MEL

Profitability

Metric	MCY	GNE	MEL
Return on Assets (Normalized)	3.30%	1.39%	1.96%
Return on Equity (Normalized)	6.68%	2.81%	3.33%
Return on Invested Capital (Normalized)	4.30%	1.86%	2.76%

Return on Assets

MCY

GNE

MEL

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