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New Zealand (NZX) Market Analysis & Valuation

UpdatedApr 13, 2025
DataAggregated Company Financials
Companies107
  • 7D-1.4%
  • 3M-6.5%
  • 1Y-1.2%
  • YTD-7.3%

Over the last 7 days, the market has dropped 1.4%, driven by a pullback of 4.0% in the Healthcare sector. In the last 12 months the market has been flat overall. Looking forward, earnings are forecast to grow by 26% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 13 Apr 2025NZ$160.3bNZ$115.3bNZ$2.6b18.4x61.1x1.4x
Tue, 11 Mar 2025NZ$165.9bNZ$114.0bNZ$2.6b19.5x64.3x1.5x
Thu, 06 Feb 2025NZ$169.9bNZ$113.6bNZ$3.2b19.8x53.9x1.5x
Sat, 04 Jan 2025NZ$171.6bNZ$113.7bNZ$3.1b20.2x54.8x1.5x
Mon, 02 Dec 2024NZ$172.3bNZ$113.6bNZ$3.1b20.1x54.9x1.5x
Wed, 30 Oct 2024NZ$170.1bNZ$112.8bNZ$4.3b19.3x39.7x1.5x
Fri, 27 Sep 2024NZ$164.3bNZ$112.6bNZ$4.4b18.9x37.2x1.5x
Sun, 25 Aug 2024NZ$164.6bNZ$111.9bNZ$4.4b20.6x37.1x1.5x
Tue, 23 Jul 2024NZ$162.3bNZ$110.8bNZ$4.7b16.8x34.8x1.5x
Thu, 20 Jun 2024NZ$155.1bNZ$109.6bNZ$4.3b14.7x36x1.4x
Sat, 18 May 2024NZ$154.0bNZ$110.0bNZ$5.8b15.4x26.4x1.4x
Mon, 15 Apr 2024NZ$156.4bNZ$110.0bNZ$5.8b17x26.9x1.4x
Wed, 13 Mar 2024NZ$156.3bNZ$111.2bNZ$5.7b17x27.2x1.4x
Fri, 09 Feb 2024NZ$158.9bNZ$109.1bNZ$6.6b14x23.9x1.5x
Sun, 07 Jan 2024NZ$157.7bNZ$109.3bNZ$6.6b15.8x23.7x1.4x
Tue, 05 Dec 2023NZ$152.1bNZ$109.3bNZ$6.6b15.6x22.9x1.4x
Thu, 02 Nov 2023NZ$145.7bNZ$109.3bNZ$5.8b16.4x25x1.3x
Sat, 30 Sep 2023NZ$152.2bNZ$110.2bNZ$5.9b16.7x26x1.4x
Mon, 28 Aug 2023NZ$156.6bNZ$110.7bNZ$6.3b17.2x24.9x1.4x
Wed, 26 Jul 2023NZ$163.6bNZ$108.4bNZ$6.6b17x24.7x1.5x
Fri, 23 Jun 2023NZ$161.6bNZ$108.4bNZ$6.6b15.8x24.4x1.5x
Sun, 21 May 2023NZ$165.3bNZ$107.3bNZ$7.3b15.5x22.8x1.5x
Tue, 18 Apr 2023NZ$162.9bNZ$107.4bNZ$7.6b15.3x21.5x1.5x
Thu, 16 Mar 2023NZ$159.7bNZ$104.7bNZ$7.3b15.8x21.8x1.5x
Sat, 11 Feb 2023NZ$166.7bNZ$100.5bNZ$6.6b17.1x25.2x1.7x
Mon, 09 Jan 2023NZ$159.7bNZ$100.3bNZ$6.6b16x24.2x1.6x
Wed, 07 Dec 2022NZ$160.5bNZ$100.1bNZ$6.6b16.3x24.3x1.6x
Fri, 04 Nov 2022NZ$156.9bNZ$99.4bNZ$7.9b16.9x19.9x1.6x
Sun, 02 Oct 2022NZ$154.8bNZ$99.9bNZ$7.9b17x19.7x1.5x
Tue, 30 Aug 2022NZ$162.0bNZ$97.8bNZ$7.7b18x21.2x1.7x
Thu, 28 Jul 2022NZ$157.9bNZ$96.5bNZ$8.3b19x18.9x1.6x
Sat, 25 Jun 2022NZ$153.5bNZ$96.3bNZ$8.4b17.7x18.4x1.6x
Mon, 23 May 2022NZ$161.3bNZ$99.0bNZ$8.9b17.3x18.1x1.6x
Wed, 20 Apr 2022NZ$168.3bNZ$100.5bNZ$8.7b18.3x19.3x1.7x
Price to Earnings Ratio

19.3x


Total Market Cap: NZ$168.3bTotal Earnings: NZ$8.7bTotal Revenue: NZ$100.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 29.7x202320242025
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 61.1x which is higher than its 3-year average PE of 29.7x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 33% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.7% 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 Market-1.36%
Consumer Staples1.06%
Utilities0.14%
Financials-0.68%
Telecom-0.96%
Real Estate-1.30%
Industrials-1.51%
Energy-1.55%
Materials-1.92%
Tech-2.75%
Consumer Discretionary-3.76%
Healthcare-3.96%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 39.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.4% which is higher than its past year's earnings decline of 40.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 85% over the next 5 years.
  • In contrast, the Energy sector is expected to see its earnings grow by 14% 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
ATM a2 MilkNZ$8.863.7%
+NZ$231.7m		39.3%PE36.9xConsumer Staples
AIA Auckland International AirportNZ$8.091.2%
+NZ$159.8m		0.7%PE183.6xIndustrials
VCT VectorNZ$4.123.5%
+NZ$140.0m		9.9%PE23.3xUtilities
MEL Meridian EnergyNZ$5.780.3%
+NZ$52.1m		0%PE128.8xUtilities
PFI Property For IndustryNZ$2.141.7%
+NZ$17.6m		-6.8%PB0.8xReal Estate
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EBO

NZ$36.10

EBOS Group

7D

-7.2%

1Y

2.8%

RAD

NZ$0.28

Radius Residential Care

7D

21.7%

1Y

139.3%

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Apr 10
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ATM

NZ$8.86

a2 Milk

7D

3.7%

1Y

39.3%

a2 Milk (NZSE:ATM) Might Be Having Difficulty Using Its Capital Effectively

Apr 10
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SKC

NZ$1.15

SkyCity Entertainment Group

7D

-9.4%

1Y

-39.5%

What You Can Learn From SkyCity Entertainment Group Limited's (NZSE:SKC) P/S

Apr 09
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AIR

NZ$0.58

Air New Zealand

7D

-4.1%

1Y

-4.9%

Air New Zealand Limited (NZSE:AIR) Shares Could Be 21% Below Their Intrinsic Value Estimate

Apr 07
Air New Zealand Limited (NZSE:AIR) Shares Could Be 21% Below Their Intrinsic Value Estimate

MFT

NZ$60.00

Mainfreight

7D

-3.4%

1Y

-12.7%

CEN

NZ$9.01

Contact Energy

7D

-2.1%

1Y

6.3%

Contact Energy Limited's (NZSE:CEN) Share Price Could Signal Some Risk

Apr 02
Contact Energy Limited's (NZSE:CEN) Share Price Could Signal Some Risk

RYM

NZ$2.50

Ryman Healthcare

7D

-5.3%

1Y

-44.4%

POT

NZ$6.18

Port of Tauranga

7D

-5.4%

1Y

20.5%

Port of Tauranga Limited's (NZSE:POT) Share Price Not Quite Adding Up

Mar 25
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FPH

NZ$33.40

Fisher & Paykel Healthcare

7D

-3.4%

1Y

27.3%

Unpleasant Surprises Could Be In Store For Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Shares

Mar 25
Unpleasant Surprises Could Be In Store For Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Shares

VCT

NZ$4.12

Vector

7D

3.5%

1Y

9.9%

Is Vector (NZSE:VCT) A Risky Investment?

Mar 21
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MEL

NZ$5.78

Meridian Energy

7D

0.3%

1Y

0%

Does Meridian Energy (NZSE:MEL) Have A Healthy Balance Sheet?

Mar 21
Does Meridian Energy (NZSE:MEL) Have A Healthy Balance Sheet?

AIA

NZ$8.09

Auckland International Airport

7D

1.2%

1Y

0.7%

Does Auckland International Airport (NZSE:AIA) Have A Healthy Balance Sheet?

Mar 20
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PFI

NZ$2.14

Property For Industry

7D

1.7%

1Y

-6.8%

AFT

NZ$2.75

AFT Pharmaceuticals

7D

6.2%

1Y

-14.9%

MNW

NZ$4.75

Manawa Energy

7D

1.1%

1Y

2.2%