New Zealand Oil & Gas Limited (NZO.AX)

New Zealand Oil & Gas Limited (NZO.AX) — VMCI valuation read

NZO.AX screens at VMCI 58/100, a 8-point gap above the Energy sector median (50). For a mid-cap New Zealand Oil & Gas Limited share, that placement says the multi-pillar composite is cheaper or higher quality than the typical peer on a like-for-like basis.

NZO.AX has logged no Form 4 insider activity over the trailing 30 days. The tape reads neither bullish nor bearish on insider conviction. The next signal sits with the 10-Q schedule and the analyst calendar.

**Investor frame.** Value: NZO.AX trades at 14.0x earnings, 22% below the Energy median of 18.0x, while EV/EBITDA prints 9.0x against 12.0x for the Energy group. Quality: ROIC of 12.0% sits 2.0pp above the Energy median (10.0%), the cleanest like-for-like comparison on capital efficiency. Risk: net debt to EBITDA of 3.2x is the binding constraint on the bear case, which sets the rate-cycle exposure for New Zealand Oil & Gas Limited.

NZO.AX fell 2.6% over the trailing 7 days, with a -14.0% read on a 30-day basis.