New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Thematic (Sector/Industry)

<ul><li>The aged care sector is showing signs of stability with unit and sales pricing holding steady despite Ryman Healthcare's selective price cuts.</li><li>Oceania Healthcare is rated OUTPERFORM due to its resilient demand focus and potential for debt reduction through inventory sell down.</li><li>The New Zealand housing market shows signs of recovery, with sales improving and a stable period for unit price buffers expected over the medium term.</li></ul>

The aged care sector is showing signs of stability with unit and sales pricing holding steady despite Ryman Healthcare's selective price cuts.Oceania Healthcare is rated OUTPERFORM due to its resilient demand focus and potential for debt reduction through inventory sell down.The New Zealand housing market shows signs of recovery, with sales improving and a stable period for unit price buffers expected over the medium term.

Aged Care Sector - Montgomerie-Ibbotson Aged Care Pricing Index

Equity Bottom-Up

<ul><li>Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly.</li><li>OCA delivered yet another disappointing result, driven by higher costs, lower care fees and weak sales at The Helier. </li><li>OCA's development assets are shrinking, with no corresponding move in development debt. </li></ul>

Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly.OCA delivered yet another disappointing result, driven by higher costs, lower care fees and weak sales at The Helier. OCA's development assets are shrinking, with no corresponding move in development debt. 

Oceania Healthcare - 1H25 Result — Groundhog Day

<ul><li>Oceania Healthcare (OCA) will report its 1H25 result on Friday, 22 November.</li><li>Expectations are relatively subdued ahead of its result, given the: (1) continued soft NZ housing market likely weighing on unit sales, and (2) OCA's recent disappointments in reducing net debt.</li><li>But we see the potential for OCA to report lower net debt, aided by previously announced asset sales, becoming the first in the sector to do so for some time. </li></ul>

Oceania Healthcare (OCA) will report its 1H25 result on Friday, 22 November.Expectations are relatively subdued ahead of its result, given the: (1) continued soft NZ housing market likely weighing on unit sales, and (2) OCA's recent disappointments in reducing net debt.But we see the potential for OCA to report lower net debt, aided by previously announced asset sales, becoming the first in the sector to do so for some time. 

Oceania Healthcare - 1H25 Preview — Saint Helier to the Rescue?

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<li>It takes approximately 15 years for a retirement village to be built and reach cash flow maturity, with an additional several decades of operational activity to follow.</li>
<li>The Aged Care sector operates on a time scale, where impacts from climate change are highly relevant.</li>
<li>In addition, the elderly are at the centre of the business model, some of the most vulnerable members of society. </li>
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It takes approximately 15 years for a retirement village to be built and reach cash flow maturity, with an additional several decades of operational activity to follow.
The Aged Care sector operates on a time scale, where impacts from climate change are highly relevant.
In addition, the elderly are at the centre of the business model, some of the most vulnerable members of society. 






<ul><li>On the face of it, little has changed in the aged care and NZ housing markets over the past six months.</li><li>House/unit prices are broadly flat and turnover remains a challenge.</li><li>But that hasn't stopped the aged care operators continuing to report record high sales numbers. </li></ul>

On the face of it, little has changed in the aged care and NZ housing markets over the past six months.House/unit prices are broadly flat and turnover remains a challenge.But that hasn't stopped the aged care operators continuing to report record high sales numbers. 

New Zealand

Oceania Healthcare is New Zealand’s largest owners and operators of retirement villages.

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Oceania Healthcare (OCA NZ)

Aged Care Sector - Montgomerie-Ibbotson Aged Care Pricing Index

The aged care sector is showing signs of stability with unit and sales pricing holding steady despite Ryman Healthcare's selective price cuts.

Forsyth Barr

Oceania Healthcare - 1H25 Result — Groundhog Day

Groundhog day [noun]: a situation in which the same, usually negative or monotonous, experiences occur repeatedly. OCA delivered yet another...

Forsyth Barr

Oceania Healthcare - 1H25 Preview — Saint Helier to the Rescue?

Expectations are relatively subdued ahead of its result, given the: (1) continued soft NZ housing market likely weighing on unit sales, and...

Forsyth Barr

Aged Care Sector

It takes approximately 15 years for a retirement village to be built and reach cash flow maturity, with an additional several decades of...

Forsyth Barr

Aged Care Sector - Montgomerie-Ibbotson Aged Care Pricing Index

vOn the face of it, little has changed in the aged care and NZ housing markets over the past six months. House/unit prices are broadly flat and...

Forsyth Barr

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)