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Foley Wines Share Price: $0.48 for $1.64 of Assets, But the Profit Isn't There Yet

Foley Wines Share Price Today

The Foley Wines share price sits at about $0.48 NZD (NZX: FWL) in mid-June 2026, down roughly 26% over the past year and near the lower end of its range. With a market cap near $32 million, Foley Wines is a small-cap New Zealand wine producer with vineyards and brands across Marlborough, Martinborough, and Central Otago.

The stock presents one of the widest asset-value gaps on the NZX. Foley's net tangible assets are about $1.64 per share, while the shares trade near $0.48. That is a discount of roughly 70% to stated asset value. The reason the market applies such a steep discount is simple: the company is not currently profitable.

What Foley Wines Does

Foley Wines owns vineyards, wineries, and a portfolio of wine brands, selling domestically and exporting to international markets. It is part of the wider wine interests of US businessman Bill Foley, who is the controlling shareholder. As a producer of a premium agricultural product, it shares export and brand dynamics with other NZ food-and-beverage names like wine exporter [Delegat Group](/stocks/delegat-group) and natural-health producer [Comvita](/stocks/comvita).

The business owns a lot of hard assets: land, vines, and inventory (maturing wine is genuinely valuable stock). That asset base is what underpins the high NTA. The challenge is converting those assets into consistent profit.

Recent Performance: Revenue Up, Still Loss-Making

Foley's most recent full-year result showed:

  • •Revenue of about $64.4 million, up around 6.9%
  • •A net loss of about $1.86 million, although the loss narrowed by roughly 55% on the prior year
  • •EBITDA of about $12.4 million, a roughly 20% margin

So the direction is encouraging, revenue growing and losses shrinking, but the bottom line is still red. The positive EBITDA and asset base are why Foley can still pay a dividend (a gross yield around 6.2%) despite the reported loss, funding it from cash flow rather than accounting profit. That is sustainable only for as long as cash generation holds.

Key Metrics

  • •Share price: ~$0.48 NZD
  • •Net tangible assets: ~$1.64 per share (a ~70% discount)
  • •Market cap: ~$32 million NZD
  • •52-week move: about -26%
  • •EBITDA: ~$12.4 million (~20% margin)
  • •Net result: a loss (P/E not meaningful)
  • •Gross dividend yield: ~6.2%

What to Watch

  • •Path to profit: The whole thesis hinges on Foley turning positive EBITDA into a genuine net profit. Watch whether the loss continues to narrow toward breakeven.
  • •Wine demand and exports: Global demand for NZ wine, especially Marlborough sauvignon blanc, and exchange rates drive the topline.
  • •Inventory and asset values: Maturing-wine inventory and vineyard land underpin the NTA. Any write-downs would erode the asset case.
  • •Dividend coverage: A yield paid while loss-making is a watch item. Confirm cash flow continues to cover it.

The Bottom Line

Foley Wines is a deeply asset-backed wine producer trading at a fraction of its stated net asset value, with revenue growing and losses narrowing. The bull case is striking: real vineyards, brands, and maturing wine inventory available for around 30 cents on the dollar, plus a 6% yield. The bear case is equally real: the company still loses money, the dividend is funded from cash rather than profit, and a controlling shareholder limits minority influence. This is a deep-value, turnaround play for patient investors who trust the asset values and believe profitability is coming, not a stock for those who need earnings today.

For how we weigh asset value against profitability, see our [methodology](/methodology).

*Disclaimer: This article is for educational and informational purposes only. It does not constitute financial advice. Stock data may not be real-time. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.*