NZX reports stronger half-year revenue: what it means for NZX stock
Published on 10/05/2026 at 01:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
NZX Limited (ISIN NZNZXE0001S7) increased operating revenue 13.30 percent year over year to NZD 76.60 million in the first half of 2026. According to Yahoo Finance, the June 2026 interim result also lifted operating earnings excluding project and restructuring costs by 8.80 percent to NZD 27.30 million.
Half-year revenue reaches NZD 76.60 million
The result shows that NZX's growth businesses are carrying more of the group performance. Smart's funds under management reached NZD 18.00 billion at June 30, 2026, up 28.50 percent year over year, while Wealth Technologies funds under administration reached NZD 21.10 billion, up 20.10 percent.
Net profit after tax rose 18.00 percent to NZD 9.80 million in the first half of 2026, and earnings per share increased 17.00 percent to NZD 0.03. NZX also declared a fully imputed interim dividend of NZD 0.032 per share, up 6.70 percent from the first half of 2025.
Guidance stays at NZD 53.00 million to NZD 58.50 million
NZX maintained its full-year 2026 operating earnings guidance at NZD 53.00 million to NZD 58.50 million. Management said the half-year result was tracking toward the middle of that range, giving the guidance a quantified benchmark rather than a new target.
The main operating trade-off is visible in the margin. Headline operating margin declined to 35.60 percent from 37.00 percent in the first half of 2025, with the company attributing the change to QuayStreet externalization and investment in Smart's KiwiSaver growth plans.
Investing.com lists a neutral consensus based on two analysts, with an average 12-month target of NZD 1.70. That figure places valuation discussion alongside the operational question of whether Smart and Wealth Technologies can convert asset growth into higher margins.
NZX market value reaches NZD 489.5 million
NZX had a market capitalization of NZD 489.5 million as of October 5, 2026, with a 52-week range of NZD 1.27 to NZD 1.59 on the NZX. For investors, the key comparison is the gap between 13.30 percent first-half revenue growth and the decline in headline operating margin to 35.60 percent.
NZX Limited at a glance
- Company: NZX Limited
- ISIN: NZNZXE0001S7
- Ticker: NZX.NZ
- Primary exchange: NZX
- Market capitalization: NZD 489.5 million (as of October 5, 2026)
- 52-week range: NZD 1.27-NZD 1.59 (as of October 5, 2026)
- Sector / Industry: Financial Services / Financial - Data and Stock Exchanges
