profit from every A$100 of sales.
A$0A$100
Meridian Energy
A$4.66+1.30% today
-6.8% in 1 year
1-year low A$4.211-year high A$5.00
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Meridian Energy sold, what it kept, and what it did with the cash.
Sales went from NZ$3.69 billion in 2022 to NZ$4.79 billion in 2025, with -NZ$452 million of profit last year.
SalesProfit
Meridian Energy handed back more cash to shareholders than it generated last year.
NZ$387M
Free cash flow 2025NZ$134M
Bought back its own shares–
Paid as dividendsNZ$387M
Cash vs. debtNZ$123M vs. NZ$1.6B
Meridian Energy vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from A$100 of sales | Sales growth a year | Price per A$1 of profit |
|---|---|---|---|
| Meridian Energy | No profit yet | ||
 China Yangtze Power | 20.9× · Fair price | ||
 Huaneng Lancang River Hydropower | 23.7× · Fair price | ||
 Verbund | 17.1× · Fair price | ||
 Adani Green Energy | 139.8× · Very expensive |
AI analysis
An AI analyst reads Meridian Energy's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of NZD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 3,686 | 3,203 | 4,831 | 4,794 | |
| 3,686 | 3,203 | 4,831 | 4,794 | |
| 400 | 512 | 395 | 710 | |
| 988 | 473 | 995 | -89 | |
| 451 | 95 | 429 | -452 | |
| 0.18 | 0.04 | – | -0.17 | |
| 100.0% | 100.0% | 100.0% | 100.0% | |
| 10.9% | 16.0% | 8.2% | 14.8% | |
| 12.2% | 3.0% | 8.9% | -9.4% |
Balance sheet
| In millions of NZD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 9,369 | 10,022 | 13,543 | 14,974 |
| Cash | 363 | 212 | 221 | 123 |
| Total debt | 1,204 | 1,263 | 1,377 | 1,569 |
| Total liabilities | 3,846 | 4,035 | 5,297 | 6,054 |
| 5,523 | 5,987 | 8,246 | 8,920 | |
| 2,571 | 2,582 | – | 2,604 | |
| 7.2% | 1.7% | 4.8% | -3.6% | |
| 8.2% | 1.6% | 5.2% | -5.1% |
Cash flow
| In millions of NZD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| – | – | – | – | |
| 172 | 329 | 335 | 184 | |
| 289 | 180 | 332 | 134 | |
| Dividends paid | 360 | 423 | 436 | 387 |
| – | – | – | – | |
| – | – | – | – |
Valuation
- –
- –
- –
- 1.5×
- 3.2×
- 113.7×
- –
- 0.9%
- -3.0%
- 2.5%
Profitability
- 100.0%
- 14.8%
- -9.4%
- –
- 1.5%
- 1.1%
- –
- –
- –
- –
Growth
- +9.2%
- –
- –
- –
- +0.4%
Financial health
- –
- 0.20
- –
- 2.7×
- 1.15
- –
- –
How it ranks in Utilities
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 7%of 399
Bottom 38%of 394
Top 27%of 399
Bottom 47%of 398
2.5%of the share price, paid each year
On $1,000 invested$25a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
: 288.8%
News
Pentagon launches Project Meridian to identify future warfare technologySeeking Alpha · Sep 30, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
27No pass
Benjamin Graham
46No pass
Philip Fisher
47No pass
Peter Lynch
44No pass
Joel Greenblatt
2No pass
Charlie Munger
38No pass
Terry Smith
33No pass
Questions about Meridian Energy
Is Meridian Energy a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Meridian Energy AI analysis
What does Meridian Energy do?
Meridian Energy Limited engages in the renewable electricity generation and retail business to residential, business, and industrial customers in New Zealand. It is in Utilities - Renewable, based in Wellington, New Zealand.
Does Meridian Energy pay a dividend?
Yes. At today's price the dividend is 2.5% a year. In 2025 it paid out A$387 million in dividends.
Is Meridian Energy stock halal?
Yes. Meridian Energy passes our halal screen: its business is permitted and its debt is 10% of its market value, under the 30% limit. How we check
How has Meridian Energy stock done over the past year?
Down 6.8% over the past twelve months, to A$4.66. It traded between A$4.21 and A$5.00 and is 6.8% below its high.
Who are Meridian Energy's competitors?
The largest listed companies in the same industry are China Yangtze Power, Huaneng Lancang River Hydropower, Verbund and Adani Green Energy. The peers table on this page compares their profit, growth and price with Meridian Energy's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.