Just Life Group Limited (JLG.NZ)

Just Life Group Limited (JLG.NZ) — VMCI valuation read

Headline read on JLG.NZ: VMCI of 56/100 versus a Consumer Defensive sector median of 50. The 6-point above-median position is what makes Just Life Group Limited a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on JLG.NZ: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on JLG.NZ: value (JLG.NZ trades at 17.0x earnings, 6% below the Consumer Defensive median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Consumer Defensive median (10.0%)), and risk (net debt to EBITDA of 3.3x is the binding constraint on the bear case). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Defensive 12.0x baseline.

JLG.NZ fell 2.1% over the trailing 7 days, with a -23.7% read on a 30-day basis.