CELEBRATING MANAGEMENT EXCELLENCE
The Deloitte Top 200 is a listing of New Zealand’s largest organisations ranked by revenue. This includes publicly-listed companies and larger unlisted entities which are required to disclose audited financial statements, including New Zealand subsidiaries and branches of overseas companies and the commercial operations of Maori organisations.
It also includes producer boards, co-operatives, local authority trading enterprises and state-owned enterprises. To be included in the Top 200, organisations must operate for a commercially determined profit. They will generally but not always be liable for tax on earnings. Companies fully owned by another New Zealand company are excluded if they are reported as a consolidated group. In some instances where it is believed that the separate results are more meaningful because the company in question is competing with other similar NZ enterprises and where separate figures are available, these have been used in the tables and the holding company results excluded.
All figures are the latest available, verified and audited. We recognise that various organisations evaluate their own performance using measures specific to their business. For comparability and simplicity we have adopted a relatively simple calculation methodology focusing on understood financial measures.
The calculation of the below measures has been simplified based on understood financial measures. Comparative 2016 numbers have been updated for consistency.
- Revenue: as disclosed in the entity's Statement of Comprehensive Income (excludes gross commission sales).
- Profit after tax: as disclosed in the Statement of Comprehensive Income.
- EBITDA: earnings before net interest income/expense, tax, depreciation and amortisation and impairments of property, plant and equipment or intangible assets.
- EBIT: earnings before net interest income/expense and tax. Not shown for the financial institutions.
- Net profit %: calculated as profit after tax divided by revenue.
- Total assets: as disclosed in the entity's Statement of Financial Position. Includes current and non-current assets, investments, tangible and intangible assets, deferred tax assets and goodwill.
- Total equity: as disclosed in the entity's Statement of Financial Position including non-controlling (minority) interests. For New Zealand branches of overseas companies, the amount shown as owing to head office is deemed equity.
- Return on assets (ROA): calculated as profit after tax divided by average total assets over the period. Average total assets are calculated by adding the total assets at the beginning of a period to the total assets at the period's end and dividing the result by two.
- Return on equity (ROE): calculated as profit after tax divided by average shareholder’s equity over the period. Average shareholders' equity is calculated by adding the shareholders' equity at the beginning of a period to the shareholders' equity at the period's end and dividing the result by two.
- Debt to equity ratio: calculated as total liabilities divided by shareholder’s equity as disclosed in the entity’s Statement of Financial Position.