Third Age Health Share Price: Up 32% on Profitable Growth in Aged-Care Medicine
Third Age Health Share Price Today
The Third Age Health share price sits at about $4.61 NZD (NZX: TAH) in mid-June 2026, up roughly 32% over the past year. With a market cap near $46 million, Third Age Health is a Napier-based healthcare company with a clear, profitable niche: providing medical and general-practice care to older New Zealanders. Unlike many small-caps in this series, it is genuinely profitable and pays a dividend.
It is also a refreshingly understandable business: a focused, asset-light healthcare-services model riding the same demographic wave as the aged-care sector.
What Third Age Health Does
Third Age Health provides general-practice and medical services tailored to older people, delivering primary care into retirement villages, private hospitals, and secure dementia units across New Zealand, as well as some community primary care. Rather than owning care facilities, it provides the doctors and medical services that those facilities and residents need.
This makes it an asset-light services business, distinct from the property-heavy retirement-village operators and bed-owning care providers like Radius Residential Care and Promisia Healthcare. Its growth comes from winning more contracts and serving more residents, not from building real estate. The structural tailwind is the same: New Zealand's ageing population needs steadily more medical care.
Recent Performance
Third Age Health has been delivering solid, profitable growth:
- •Revenue of about $20.3 million
- •Earnings of about $2.7 million, for EPS near $0.311
- •A trailing P/E around 14.8x and a gross dividend yield near 4.8%
Profitable growth, a reasonable earnings multiple, and a real dividend put Third Age Health in a different and higher-quality category than the speculative micro-caps elsewhere on the NZX. The 32% share-price gain reflects the market rewarding that consistency. Its net tangible assets are slightly negative, which is normal for an asset-light services company whose value lies in contracts and earnings rather than hard assets.
Key Metrics
- •Share price: ~$4.61 NZD
- •Market cap: ~$46 million NZD
- •52-week move: about +32%
- •Revenue: ~$20.3 million
- •P/E ratio (trailing): ~14.8x
- •EPS: ~$0.311
- •Gross dividend yield: ~4.8%
What to Watch
- •Contract wins and coverage: Growth depends on signing up more villages, hospitals, and residents. Watch the expansion of its service footprint.
- •Government funding and health policy: Aged-care and primary-care funding settings affect the whole sector's economics.
- •Staffing: Like all healthcare providers, Third Age Health depends on recruiting and retaining doctors and nurses, a persistent sector challenge.
- •Margins: As it scales, watch whether it maintains or improves its profit margins.
The Bottom Line
Third Age Health is a profitable, dividend-paying healthcare-services company with a clear niche serving older New Zealanders and a strong demographic tailwind. The bull case is a high-quality, asset-light, growing business with recurring revenue and a near 5% yield, at a reasonable multiple. The bear case is reliance on healthcare funding settings, sector-wide staffing pressures, and the limited liquidity of a $46 million stock. This is one of the more attractive small-cap healthcare options on the NZX for investors seeking quality growth with income.
For how we evaluate profitable, asset-light service businesses, see our 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.*