Channel Infrastructure NZ Limited (NZRFF)

Channel Infrastructure NZ Limited (NZRFF) — VMCI valuation read

Channel Infrastructure NZ Limited sits at VMCI 48/100, with the Energy sector median at 50. That 2-point spread is the first thing to note on NZRFF: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on NZRFF are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on NZRFF: NZRFF trades at 16.0x earnings, 11% below the Energy median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Energy median (10.0%). The Risk read: net debt to EBITDA of 1.7x is the rate-sensitivity line to watch, anchoring the bear scenario on a measurable balance-sheet metric.

NZRFF fell 1.5% over the trailing 7 days, with a -22.6% read on a 30-day basis.