New Zealand Professional Investment Services Firm

Forsyth Barr

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.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>We undertake a deep dive into Ryman Healthcare (RYM)’s new long-term financial targets and capital management framework following its 2026 investor day.</li><li>In aggregate, RYM’s care and retirement village (RV) return targets imply it could generate ~NZ$330m+ of cash flow from existing operations (CFEO) by FY35.</li><li>We have relatively high conviction in RYM achieving its care return targets.</li></ul>

We undertake a deep dive into Ryman Healthcare (RYM)’s new long-term financial targets and capital management framework following its 2026 investor day.In aggregate, RYM’s care and retirement village (RV) return targets imply it could generate ~NZ$330m+ of cash flow from existing operations (CFEO) by FY35.We have relatively high conviction in RYM achieving its care return targets.

Ryman Healthcare

Ryman Healthcare Investor Day Deep Dive