Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Meridian EnergyNZSE:MEL -0.71%81 EV-to-OCF is 20.22 as of Sep. 21, 2026, which is 22% below its 10-year median of 25.84. GuruFocus rates NZSE:MEL with a GF Score™ of 81/100 and a GF Value™ of NZ$4.75 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 432 Utilities - Independent Power Producers companies, Meridian Energy ranks worse than 73.38% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Meridian Energy's Enterprise Value is NZ$16,382 Mil.
Meridian Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was NZ$810 Mil. Therefore, Meridian Energy's EV-to-OCF for today is 20.22.
The historical rank and industry rank for Meridian Energy's EV-to-OCF or its related term are showing as below:
NZSE:MEL'
s EV-to-OCF Range Over the Past 10 Years
Min: 16.45 Med: 25.84 Max: 53.93
Current: 18.88
During the past 13 years, the highest EV-to-OCF of Meridian Energy was 53.93. The lowest was 16.45. And the median was 25.84.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Meridian Energy's PE Ratio (TTM) for today is calculated as:
Meridian Energy's share price for today is NZ$5.57.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Meridian Energy's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 was NZ$0.050.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Meridian Energy EV-to-OCF Related Terms
Meridian Energy EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Meridian Energy's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Renewable subindustry, Meridian Energy's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Meridian Energy EV-to-OCF vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Meridian Energy's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Meridian Energy's EV-to-OCF falls into.
Meridian Energy's current Enterprise Value is NZ$16,382 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Meridian Energy's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was NZ$810 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Meridian Energy (NZSE:MEL) has a EV-to-OCF of 20.22 as of Sep. 21, 2026. This is 22% below median its historical median of 25.84. Over the past decade, Meridian Energy's EV-to-OCF has ranged from 16.45 to 53.93. According to the industry distribution chart, Meridian Energy ranks #317 out of 432 companies in the Utilities - Independent Power Producers industry, placing it in the top 73.4%.
Is Meridian Energy's EV-to-OCF too high?
Meridian Energy's current EV-to-OCF of 20.22 is 22% below median its 10-year median of 25.84. Over the past 10 years, this metric has ranged from a low of 16.45 to a high of 53.93. The Utilities - Independent Power Producers industry median EV-to-OCF is 10.00. Meridian Energy's value of 20.22 is 102.2% above this industry median. Based on the distribution chart, Meridian Energy ranks #317 out of 432 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Meridian Energy has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Meridian Energy's EV-to-OCF compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Meridian Energy ranks #317 out of 432 companies for EV-to-OCF. This places Meridian Energy in the lower half of its industry. The industry median EV-to-OCF is 10.00. Meridian Energy's value of 20.22 is 102.2% above this benchmark. Historically, Meridian Energy's own EV-to-OCF has ranged from 16.45 to 53.93 over the past decade. While the company's 10-year median is 25.84 vs. the industry median of 10.00, Meridian Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Utilities - Independent Power Producers company?
The median EV-to-OCF among Utilities - Independent Power Producers companies is 10.00, based on 432 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Meridian Energy's current EV-to-OCF of 20.22 is 102.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Utilities - Independent Power Producers industry, the median EV-to-OCF is 10.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Meridian Energy's current EV-to-OCF is 20.22, which is 22% below median its own 10-year median of 25.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meridian Energy stock overvalued right now?
Based on GuruFocus' analysis, Meridian Energy (NZSE:MEL) is currently considered Modestly Overvalued. The stock's GF Value™ is NZ$4.75, compared to a current price of NZ$5.57 — trading 17.3% above its estimated fair value. The current EV-to-OCF is 20.22, which is 22% below median its 10-year median of 25.84 and 102.2% above the Utilities - Independent Power Producers industry median of 10.00. Meridian Energy's overall GF Score™ is 81/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Meridian Energy (NZSE:MEL), the current EV-to-OCF is 20.22 as of Sep. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Meridian Energy (NZSE:MEL) Overvalued in 2026?
Based on GuruFocus' analysis, Meridian Energy stock appears to be overvalued.
The current stock price of NZ$5.57 is trading 17.3% above its estimated GF Value™ of NZ$4.75.
GuruFocus considers Meridian Energy to be Modestly Overvalued.
Key valuation signals for NZSE:MEL:
EV-to-OCF: 20.22 (22% below median its 10-year median of 25.84)
GF Value™: NZ$4.75 vs. price of NZ$5.57 (17.3% above fair value)
Industry Position: 102.2% above the Utilities - Independent Power Producers median (#317 of 432)
No single metric tells the full story. See the NZSE:MEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Meridian Energy is one of New Zealand's leading utilities. It is the largest electricity producer in the nation, with a third of the market, and the fourth-largest energy retailer, with about 15% of the market by customer numbers. It generates 100% renewable electricity, mainly from large hydroelectric schemes in the South Island. It also owns a geographically diversified portfolio of wind farms.
81GF Score
Get the complete analysis for NZSE:MEL
EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NZSE:MEL has been successfully added to your 
