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New Zealand (NZX) Market Analysis & Valuation

UpdatedJul 20, 2024
DataAggregated Company Financials
Companies112
  • 7D1.8%
  • 3M4.4%
  • 1Y-1.1%
  • YTD3.1%

Over the last 7 days, the market has risen 1.8%, driven by gains of 2.7% in the Utilities sector. The market has been flat overall in the last year. Earnings are forecast to grow by 18% annually.

Trending IndustriesSoftware

Market Valuation and Performance

Has the New Zealand Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 21 Jul 2024NZ$163.1bNZ$110.8bNZ$4.7b16.8x34.8x1.5x
Tue, 18 Jun 2024NZ$153.6bNZ$109.5bNZ$4.3b15x35.7x1.4x
Thu, 16 May 2024NZ$151.1bNZ$110.1bNZ$5.8b15.2x26x1.4x
Sat, 13 Apr 2024NZ$156.4bNZ$110.0bNZ$5.8b17x26.9x1.4x
Mon, 11 Mar 2024NZ$157.6bNZ$111.1bNZ$5.7b17.2x27.4x1.4x
Wed, 07 Feb 2024NZ$158.4bNZ$109.2bNZ$6.6b14x23.8x1.5x
Fri, 05 Jan 2024NZ$157.1bNZ$109.3bNZ$6.6b15.9x23.6x1.4x
Sun, 03 Dec 2023NZ$152.3bNZ$109.3bNZ$6.6b15.6x22.9x1.4x
Tue, 31 Oct 2023NZ$144.5bNZ$109.3bNZ$5.8b16.2x24.8x1.3x
Thu, 28 Sep 2023NZ$152.5bNZ$109.0bNZ$5.9b15.9x26x1.4x
Sat, 26 Aug 2023NZ$156.6bNZ$109.0bNZ$5.8b16.2x27x1.4x
Mon, 24 Jul 2023NZ$163.3bNZ$108.4bNZ$6.6b16.7x24.6x1.5x
Wed, 21 Jun 2023NZ$161.7bNZ$108.5bNZ$6.6b15.9x24.4x1.5x
Fri, 19 May 2023NZ$163.8bNZ$107.4bNZ$7.7b15.6x21.4x1.5x
Sun, 16 Apr 2023NZ$162.5bNZ$107.4bNZ$7.6b15.6x21.4x1.5x
Tue, 14 Mar 2023NZ$160.4bNZ$104.8bNZ$7.3b15.9x21.9x1.5x
Thu, 09 Feb 2023NZ$166.2bNZ$100.5bNZ$6.6b16.8x25.1x1.7x
Sat, 07 Jan 2023NZ$159.7bNZ$100.3bNZ$6.6b16x24.2x1.6x
Mon, 05 Dec 2022NZ$160.1bNZ$100.1bNZ$6.6b16.4x24.2x1.6x
Wed, 02 Nov 2022NZ$157.2bNZ$99.5bNZ$7.9b17x20x1.6x
Fri, 30 Sep 2022NZ$156.3bNZ$99.9bNZ$7.9b17.1x19.9x1.6x
Sun, 28 Aug 2022NZ$163.3bNZ$97.8bNZ$7.7b18x21.3x1.7x
Tue, 26 Jul 2022NZ$158.8bNZ$96.4bNZ$8.3b19.2x19.1x1.6x
Thu, 23 Jun 2022NZ$151.8bNZ$96.3bNZ$8.4b17.6x18.2x1.6x
Sat, 21 May 2022NZ$161.3bNZ$99.5bNZ$8.8b17.5x18.4x1.6x
Mon, 18 Apr 2022NZ$168.8bNZ$100.5bNZ$8.7b18.4x19.3x1.7x
Wed, 16 Mar 2022NZ$168.2bNZ$99.2bNZ$8.8b16.2x19.2x1.7x
Fri, 11 Feb 2022NZ$177.3bNZ$98.3bNZ$9.0b19.9x19.8x1.8x
Sun, 09 Jan 2022NZ$184.3bNZ$98.2bNZ$9.0b19.2x20.5x1.9x
Tue, 07 Dec 2021NZ$179.0bNZ$98.0bNZ$9.0b18.7x20x1.8x
Thu, 04 Nov 2021NZ$182.8bNZ$96.1bNZ$8.0b21.9x22.9x1.9x
Sat, 02 Oct 2021NZ$186.2bNZ$96.0bNZ$8.0b23x23.3x1.9x
Mon, 30 Aug 2021NZ$185.8bNZ$95.4bNZ$8.0b21.8x23.3x1.9x
Price to Earnings Ratio

22.7x


Total Market Cap: NZ$181.0bTotal Earnings: NZ$8.0bTotal Revenue: NZ$95.4bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 23.2x202220232024
Current Market PE
  • Investors are optimistic on the New Zealander market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 34.8x which is higher than its 3-year average PE of 23.1x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 16% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the New Zealand Market?

NZ Market1.75%
Consumer Discretionary5.29%
Tech3.86%
Utilities2.70%
Healthcare2.54%
Financials2.46%
Real Estate2.28%
Energy1.38%
Telecom0.63%
Industrials0.59%
Consumer Staples-0.52%
Materials-0.81%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 39.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.9% which is higher than its past year's earnings decline of 72.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 57% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
MEL Meridian EnergyNZ$6.894.7%
+NZ$802.5m
29.6%PE209.8xUtilities
FPH Fisher & Paykel HealthcareNZ$31.652.9%
+NZ$527.1m
29.2%PE139.8xHealthcare
MCY Mercury NZNZ$7.072.5%
+NZ$237.0m
10.2%PE259.2xUtilities
POT Port of TaurangaNZ$5.755.5%
+NZ$204.1m
-6.7%PE38.5xIndustrials
IFT InfratilNZ$10.85-1.1%
NZ$181.2m
10.2%PE12.3xIndustrials
See more
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PCT

NZ$1.24

Precinct Properties NZ & Precinct Properties Investments

7D

4.7%

1Y

-5.0%

CNU

NZ$7.86

Chorus

7D

-0.5%

1Y

-5.6%

FBU

NZ$3.31

Fletcher Building

7D

5.4%

1Y

-40.4%

MCY

NZ$7.07

Mercury NZ

7D

2.5%

1Y

10.2%

BAI

NZ$0.053

Being AI

7D

-14.5%

1Y

n/a

FCG

NZ$2.95

Fonterra Co-operative Group

7D

-1.0%

1Y

-3.3%

MCK

NZ$1.76

Millennium & Copthorne Hotels New Zealand

7D

-4.9%

1Y

-12.4%