Commercial Revenue Deep-Dive
Revenue mix, self-sufficiency, and commercial performance across iwi organisations
$114.9M
Across all iwi (latest)
7.8%
Of total reported revenue
31
Report commercial revenue
$28.2M
Largest commercial revenue
Revenue Mix Leaderboard
Top iwi by commercial revenue — showing revenue composition
| # | Organisation | Total Revenue | Commercial | Commercial % | Investment | Govt Grants | Surplus/(Deficit) |
|---|---|---|---|---|---|---|---|
| 1 | Ngāti Kahungunu Iwi Incorporated | $32.2M | $28.2M | 87.5% | $803K | - | $7.1M |
| 2 | Ngāti Toa Rangatira | $163.5M | $19.4M | 11.8% | $112.1M | $53.7M | $41.2M |
| 3 | Te Arawa Lakes Trust | $20.5M | $10.8M | 52.6% | $22K | - | $383K |
| 4 | Ngāi Tūhoe | $21.2M | $9.3M | 43.8% | $5.6M | $2.1M | $15.3M |
| 5 | Ngāti Pāhauwera | $6.9M | $4.8M | 69.3% | $134K | - | $-7.1M |
| 6 | Hokonui Rūnanga Incorporated | $5.4M | $4.7M | 86.5% | $154K | $0 | $368K |
| 7 | Ngāti Maniapoto | $15.0M | $4.2M | 28.1% | $10.7M | - | $3.8M |
| 8 | Te Rūnanga-Ā-Iwi-Ō-Ngāpuhi | $28.2M | $3.8M | 13.5% | $786K | $19.1M | $2.9M |
| 9 | Te Rūnanga o Ngāti Porou | $71.8M | $3.4M | 4.8% | $20.1M | - | $4.5M |
| 10 | Tātau Tātau o Te Wairoa | $29.4M | $3.0M | 10.3% | $6.0M | $20.2M | $14.4M |
| 11 | Te Ātiawa o Te Waka-a-Māui | $7.4M | $2.9M | 38.8% | $2.5M | $1.7M | $2.0M |
| 12 | Te Aitanga-a-Māhaki | $2.8M | $2.4M | 86.3% | $93K | - | $247K |
| 13 | Rangitāne o Manawatū | $2.3M | $2.3M | 99.8% | $4K | - | $33K |
| 14 | Ngapuhi Asset Holding Company Limited | $4.0M | $2.2M | 55.7% | $151K | - | - |
| 15 | Ngāti Kuia | $4.8M | $2.0M | 41.7% | $927K | $1.2M | $1.9M |
| 16 | Ngatihine Health Trust Board | $43.6M | $2.0M | 4.6% | $683K | $39.1M | $3.0M |
| 17 | Ngāti Kuri Trust Board | $12.3M | $1.8M | 14.7% | $698K | - | $6.5M |
| 18 | Ngāti Ruanui | $16.3M | $1.2M | 7.3% | $1.3M | - | $756K |
| 19 | Ngati Tawhirikura Hapu Charitable Trust | $1.1M | $996K | 90.8% | $16K | - | $24K |
| 20 | Rongowhakaata | $4.4M | $918K | 20.6% | $422K | $21K | - |
Revenue Source Breakdown
Aggregate revenue by source across all iwi (latest reported year per iwi)
Not all iwi break down revenue into these categories. "Other / Unclassified" represents total revenue less the sum of itemised categories.
Self-Sufficiency Index
Ratio of self-generated income (commercial + investment) to total revenue — higher indicates less reliance on government grants
Year-over-Year Commercial Revenue Changes
Iwi with multi-year commercial revenue data — comparing most recent two periods
| Organisation | Period | Previous | Latest | Change |
|---|---|---|---|---|
| Ngāti Whanaunga | 2016 → 2024 | $3K | $681K | +26934.0% |
| Ngāti Pāhauwera | 2025 → 2025 | $28K | $4.8M | +17058.4% |
| Ngāti Maniapoto | 2015 → 2025 | $54K | $4.2M | +7722.6% |
| Rongowhakaata | 2024 → 2025 | $14K | $918K | +6541.1% |
| Ngāti Manawa | 2024 → 2024 | $17K | $722K | +4155.7% |
| Ngāti Toa Rangatira | 2022 → 2025 | $538K | $19.4M | +3500.9% |
| Ngati Tawhirikura Hapu Charitable Trust | 2023 → 2024 | $62K | $996K | +1519.4% |
| Ngāti Ruanui | 2015 → 2024 | $242K | $1.2M | +388.2% |
| Ngāti Hikairo | 2018 → 2023 | $12K | $57K | +371.5% |
| Ngatihine Health Trust Board | 2024 → 2025 | $473K | $2.0M | +325.7% |
| Te Ātiawa ki Whakarongotai | 2024 → 2025 | $47K | $137K | +193.6% |
| Te Ātiawa (Taranaki) | 2022 → 2023 | $516K | $1.2M | +132.3% |
| Ngāti Awa | 2021 → 2022 | $5.0M | $11.1M | +122.2% |
| Ngāti Tama (Taranaki) | 2023 → 2024 | $20K | $43K | +116.4% |
| Ngāti Kahungunu Iwi Incorporated | 2022 → 2025 | $15.4M | $28.2M | +83.2% |
| Ngāti Koroki Kahukura | 2023 → 2024 | $150K | $228K | +52.3% |
| Te Uri o Hau | 2024 → 2024 | $2.6M | $3.4M | +31.3% |
| Ngāti Tūrangitukua | 2023 → 2025 | $617K | $794K | +28.6% |
| Roopu a Iwi Trust | 2022 → 2023 | $3.7M | $4.6M | +25.2% |
| Ngāti Tūwharetoa | 2022 → 2023 | $1.1M | $1.3M | +22.9% |
| Rongomaiwahine Iwi Trust | 2023 → 2024 | $1.6M | $1.9M | +19.4% |
| Ngāti Whare | 2022 → 2024 | $11.5M | $13.4M | +16.5% |
| Ngāti Kuia | 2023 → 2024 | $1.9M | $2.0M | +8.6% |
| Rangitāne o Wairarapa | 2023 → 2024 | $2.7M | $2.8M | +4.9% |
| Ngāti Apa (North Island) | 2018 → 2019 | $482K | $498K | +3.3% |
| Ngāti Hauā | 2022 → 2023 | $1.8M | $1.7M | -3.3% |
| Ngapuhi Asset Holding Company Limited | 2024 → 2025 | $2.3M | $2.2M | -5.3% |
| Ngāti Mākino | 2022 → 2023 | $437K | $408K | -6.7% |
| Ngāti Pikiao | 2022 → 2023 | $3.8M | $3.2M | -17.6% |
| Aupouri Ngatikahu Te Rarawa (ANT) Trust | 2023 → 2024 | $2.6M | $2.0M | -20.8% |
| Taranaki Whānui ki Te Upoko o Te Ika | 2007 → 2008 | $202K | $159K | -21.5% |
| Ngāti Ranginui | 2023 → 2023 | $324K | $220K | -32.0% |
| Te Kāhui o Taranaki | 2020 → 2021 | $296K | $200K | -32.5% |
| Te Rūnanga o Ngāti Porou | 2024 → 2025 | $6.2M | $3.4M | -44.7% |
| Rangitāne o Manawatū | 2023 → 2024 | $4.3M | $2.3M | -47.8% |
| Ngāti Mutunga o Wharekauri | 2017 → 2018 | $65K | $20K | -69.8% |
| Ngāti Kōata | 2013 → 2014 | $353K | $72K | -79.6% |
| Tapuika | 2020 → 2021 | $304K | $62K | -79.7% |
| Ngapuhi Iwi Social Services Limited | 2021 → 2023 | $23K | $5K | -80.2% |
| Waitaha | 2023 → 2024 | $613K | $120K | -80.5% |
| Ngāi Tāmanuhiri | 2017 → 2019 | $36K | $4K | -87.9% |
| Ngāti Paoa | 2023 → 2025 | $1.7M | $178K | -89.4% |
| Ngati Pahauwera Commercial Development Limited | 2016 → 2017 | $1.2M | $91K | -92.4% |
| Ngāti Kahu | 2023 → 2024 | $1.3M | $83K | -93.6% |
| Ngāti Whātua Ōrākei Trust | 2020 → 2021 | $45.0M | $2.6M | -94.3% |
| Ngāti Maru (Hauraki) | 2022 → 2023 | $3K | $87 | -97.1% |
| Ngāti Whātua ki Kaipara | 2024 → 2025 | $91.0M | $581K | -99.4% |
Note: Changes may reflect differences in reporting scope or one-off transactions rather than underlying commercial growth.
About This Data
Revenue data is sourced from publicly available iwi annual reports. Not all iwi provide a detailed breakdown of revenue streams — some report only total revenue. The "commercial revenue" category reflects what each iwi classifies as commercial or trading activity, which may vary between organisations.
The self-sufficiency index measures (commercial revenue + investment income) / total revenue. A high ratio suggests greater financial independence from government funding, though it does not account for the nature or sustainability of commercial operations.
Year-over-year comparisons should be interpreted with caution — changes may reflect shifts in reporting methodology, one-off asset sales, or classification changes rather than underlying commercial performance.
Data sourced from Iwi annual reports and financial statements. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@iwidata.co.nz.
For informational purposes only. Not investment advice.