Earnings: Medium

spk

SPK: Telecommunications Titan - Transformation's Paying Dividends

Updated 8 Oct 2025

Spark New Zealand trading at NZ$2.29 vs fair value NZ$3.07, offering 34% upside through transformation execution and defensive infrastructure advantages in dominant market position.

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skt

SKT: Pay-TV Powerhouse - Sports Rights Showdown Looms

Updated 8 Oct 2025

HOLD rating on Sky Network Television. Fair value NZ$5.68 vs current NZ$2.58 (120% upside). Dominant 80% NZ pay-TV share, 8.5% yield, but 2030 sports rights renewal risk.

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sks

SKS: Data Centre Darling - Boom Turns to Bust as Competition Awakens

Updated 8 Oct 2025

Electrical contractor riding data centre wave faces inevitable margin compression. Fair value $1.55 vs current $2.97. EBITDA margins 9.0%, ROIC 84%, but competition emerging.

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sgm

SGM: Metal Recycling Giant - Caught Between China's Hammer and EAF's Anvil

Updated 8 Oct 2025

HOLD rating with $16.19 fair value vs $15.05 current price. Strong operational execution offset by Chinese export dependency and commodity cycle risks.

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sgi

SGI: Distribution Consolidator - Acquiring Success, One Deal at a Time

Updated 8 Oct 2025

Industrial distributor trading 17% below $0.88 fair value with 16.7% ROIC and proven M&A execution across fragmented Australian market.

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sfc

SFC: Industrial Diversifier - Property Pot of Gold at Leather's End

Updated 8 Oct 2025

Trading at $20.86 vs fair value $32.23 (+54.5% upside). EBITDA margins 18.7% vs peers 12%. Property NAV $16.73/share provides downside protection. Medium risk, favourable outlook.

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seq

SEQ: Financial Advice Consolidator - Betting on the Adviser Shortage

Updated 8 Oct 2025

SPECULATIVE BUY rating with $0.91 fair value vs $0.29 current price. 214% upside potential offset by scale disadvantages and execution risks in competitive market.

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sdr

SDR: Platform Pioneer - Smart Money's Getting Smarter

Updated 8 Oct 2025

SiteMinder trades at $7.50 versus $3.68 fair value (51% overvaluation). Strong platform business with 7.4/10 quality score but execution risk limits appeal at current levels.

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rwc

RWC: Plumbing Products Pioneer - Patents Expiring, Pressure Mounting

Updated 8 Oct 2025

HOLD rating with $3.15 fair value vs $4.55 current price. Quality franchise facing patent expiry 2028-2030 and tariff headwinds. Strong cash generation but structural challenges ahead.

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rms

RMS: Gold Mining Giant - Peak Performance, Perilous Pricing

Updated 8 Oct 2025

Trading at A$2.81 vs fair value A$1.64, exceptional 68% EBITDA margins face inevitable compression as gold normalises from peak levels.

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rhc

RHC: Healthcare Giant - Transformation or Stagnation?

Updated 8 Oct 2025

HOLD rating with A$27.36 fair value vs A$31.64 current price. Australian market leader (40%+ share) facing transformation execution risks and European margin pressure.

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rfg

RFG: Franchise Operator - Firehouse Gamble with Refinancing Roulette

Updated 8 Oct 2025

ACCUMULATE rating with $22.67 fair value vs $1.52 current price. Multi-brand franchise operator executing strategic transformation with 11% revenue CAGR forecast.

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