Meridian Energy (MEZ) Stock Price, Fundamentals & Analysis

What MEZ does

Meridian Energy (MEZ) is a Utilities - Renewable company listed on the ASX, headquartered in Wellington, New Zealand. The company engages in renewable electricity generation and retail to residential, business, and industrial customers in New Zealand. It generates electricity through 7 hydro power stations, 8 wind farms, and a 100MW battery energy storage system, alongside solar arrays. Meridian Energy sells electricity under the Meridian and Powershop brands and also offers EV charging solutions, software development, professional and insurance services, and acts as a licence holder and non-trading entity. Formerly known as Hydro Energy Limited, the company was incorporated in 1998.

Key numbers explained

• Price is currently 4.3 AUD, unchanged today (0%), and sits within a 52-week range of 4.2 – 5.3. Over the past year, the stock has fallen -13.7%.
• The trailing P/E ratio of 107.5 compares the current share price to earnings per share over the last 12 months. With earnings per share of just 0.04 NZD, this ratio is very high. The forward P/E ratio of 41.2 is based on expected earnings and is lower, reflecting anticipated improvement.
• The dividend yield of 4.18% indicates the annual dividend relative to the share price. However, Meridian pays out 414% of its earnings as dividends, meaning distributions far exceed current profits. The ex-dividend date is Sep 3, 2026.
• Market capitalisation is 11.39B AUD, placing Meridian among the larger ASX-listed companies, comparable in scale to peers such as AGL Energy (AGL) or Origin Energy (ORG).
• Beta of 0.46 suggests the stock historically moves less than the broader market. For context, the broader ASX 200 index has a beta of 1 by definition.
• Revenue over the trailing 12 months is 3.88B NZD, but revenue growth year over year is -27.3%. Profit margin is 3.3%, operating margin is -6%, and return on equity is 1.4%.
• Price-to-book ratio of 1.39 compares market value to book value. The debt-to-equity ratio is 20.4%, indicating a relatively modest level of debt compared to equity.

What to watch

When following a Utilities - Renewable stock like Meridian Energy, several general factors are worth monitoring. Earnings reports, such as the next expected on Aug 26, 2026, can shift investor sentiment depending on results versus expectations. Changes in renewable energy policy, regulation, or electricity pricing in New Zealand may affect generation revenues. Weather patterns influence hydro and wind output, which directly impacts generation volumes. Dividend sustainability is another consideration, given that payouts currently exceed earnings. Finally, broader market movements and interest rate trends affect how investors value utility stocks relative to peers like Contact Energy (CEN) or Genesis Energy (GNE).