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Metro Performance Glass Ltd (MPG) AI Stock Analysis

NZ:MPG

Metro Performance Glass Ltd

(NZX:MPG)

Select Model
Rating:54Neutral
Price Target:NZD 0.81â–¼(-0.49% Downside)
Action:initiatedcoverage
Date:10/05/26

The score reflects an improving but still challenged financial profile (turnaround signs in 2026 and stronger free cash flow, but ongoing losses and leverage risk), supported by a low P/E valuation. Technicals are only modestly constructive, with short-term strength but a still-weak longer-term trend.

Positive Factors
Revenue reboundThe return to 14% revenue growth in 2026 indicates that demand and operating execution have begun to recover after two years of declines. If maintained, renewed sales momentum can improve capacity utilisation, support fixed-cost absorption, and provide a foundation for restoring profitability.
Negative Factors
Ongoing net lossesThe company has not yet returned to sustainable bottom-line profitability, despite materially narrowing losses from 2024 and 2025. Continued net losses weaken retained capital, limit internally funded investment, and leave earnings recovery dependent on further operating improvement.

Metro Performance Glass Ltd (MPG) vs. SPDR S&P 500 ETF (SPY)

-60%-40%-20%0%20%40%NZ:MPG-51.79%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
NZD 6.46M
Dividend Yield
―
Average Volume (3M)
4,348
Price to Earnings (P/E)
3.2
Beta (1Y)
0.50
Revenue Growth
-2.69%
EPS Growth
―
Country
NZ
Employees
826
Sector
Industrials
Sector Strength
63
Industry
Construction Materials

Metro Performance Glass Ltd Business Overview & Revenue Model

Company Description

Metro Performance Glass Limited, together with its subsidiaries, supplies processed flat glass and related products for the residential and commercial building sectors in New Zealand and Australia. It offers glass splashbacks, mirror glass, internal...

Metro Performance Glass Ltd Financial Statement Overview

Summary

Financials are improving but still constrained: 2026 returned to revenue growth (+14%) and losses narrowed materially, while cash flow rebounded with solid positive free cash flow. Offsetting this is a still-leveraged balance sheet (despite debt-to-equity improving to ~1.75x) and ongoing net losses, keeping profitability and flexibility as key risks.

Income Statement

46Neutral

Balance Sheet

38Negative

Cash Flow

62Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue208.16M208.16M213.92M239.28M263.52M236.06M
Gross Profit79.34M79.29M83.27M98.63M105.07M93.59M
EBITDA25.30M25.30M6.94M-5.28M14.29M24.60M
Net Income-939.00K-939.00K-13.47M-27.51M-10.55M-459.00K
Balance Sheet
Total Assets195.95M195.95M203.91M218.92M254.60M272.14M
Cash, Cash Equivalents and Short-Term Investments8.27M8.27M6.54M6.63M7.30M13.06M
Total Debt104.77M104.77M143.60M138.06M145.25M146.60M
Total Liabilities136.00M136.00M168.33M169.93M179.14M186.61M
Stockholders Equity59.96M59.96M35.58M48.99M75.47M85.53M
Cash Flow
Free Cash Flow12.85M12.85M-937.00K14.93M-1.60M2.85M
Operating Cash Flow15.68M15.68M2.07M18.92M5.13M13.25M
Investing Cash Flow-2.71M-2.71M-1.88M-3.89M-6.28M-10.13M
Financing Cash Flow-11.61M-11.61M-477.00K-16.07M-4.67M2.51M

Metro Performance Glass Ltd Technical Analysis

Technical Analysis SentimentNegative
Last Price0.81

Price Trends

50DMA0.85Negative
100DMA0.99Negative
200DMA1.15Negative

Market Momentum

MACD-0.02Positive
RSI43.16Neutral
STOCH51.75Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NZ:MPG, the sentiment is Negative. The current price of 0.81 is below the 20-day moving average (MA) of 0.85, below the 50-day MA of 0.85, and below the 200-day MA of 1.15, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.16 is Neutral, neither overbought nor oversold. The STOCH value of 51.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NZ:MPG.

Metro Performance Glass Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

NZ:MPG against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
NZ:MFTNZ:MFT65NeutralNZD 6.87B27.2812.02%2.97%2.81%-8.51%
NZ:FRWNZ:FRW64NeutralNZD 2.28B24.5217.19%4.15%13.50%17.16%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
NZ:PGWNZ:PGW58NeutralNZD 158.52M10.118.41%5.60%10.15%46.00%
NZ:MPGNZ:MPG54NeutralNZD 19.92M3.24-1.54%―-2.69%―
NZ:MOVNZ:MOV44NeutralNZD 22.97M47.376.10%―1.52%―

* Industrials Sector Average

Performance Comparison

-50%-25%0%25%50%NZ:MPGNZ:FRWNZ:MFTNZ:PGWNZ:MOVDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
NZ:MPG and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
NZ:MPGMetro Performance Glass Ltd0.81-0.87-51.79%
NZ:FRWFreightways 12.75-1.14-8.21%
NZ:MFTMainfreight 68.209.0815.35%
NZ:PGWPGG Wrightson 2.10-0.06-2.82%
NZ:MOVMove Logistics Group Limited0.18-0.03-14.29%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 05, 2026