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New Zealand (NZX) Market Analysis & Valuation

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies115
  • 7D-1.5%
  • 3M0.4%
  • 1Y-3.5%
  • YTD-1.1%

Over the last 7 days, the market has dropped 1.5%, driven by a pullback of 3.5% in the Utilities sector. As for last year, the market is also down 3.5%. 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
Tue, 19 Mar 2024NZ$155.2bNZ$111.2bNZ$5.7b16.6x27x1.4x
Thu, 15 Feb 2024NZ$156.5bNZ$109.1bNZ$6.6b13.9x23.5x1.4x
Sat, 13 Jan 2024NZ$158.7bNZ$109.2bNZ$6.6b16x23.9x1.5x
Mon, 11 Dec 2023NZ$153.4bNZ$109.3bNZ$6.6b15.5x23.1x1.4x
Wed, 08 Nov 2023NZ$150.6bNZ$109.3bNZ$5.8b16.4x25.8x1.4x
Fri, 06 Oct 2023NZ$151.8bNZ$109.0bNZ$5.8b16.2x26x1.4x
Sun, 03 Sep 2023NZ$157.1bNZ$110.6bNZ$5.9b16.4x26.6x1.4x
Tue, 01 Aug 2023NZ$165.5bNZ$108.3bNZ$6.6b16.3x25x1.5x
Thu, 29 Jun 2023NZ$160.2bNZ$108.4bNZ$6.6b16.2x24.2x1.5x
Sat, 27 May 2023NZ$160.7bNZ$107.1bNZ$6.9b15.7x23.1x1.5x
Mon, 24 Apr 2023NZ$162.7bNZ$107.5bNZ$7.6b15.6x21.4x1.5x
Wed, 22 Mar 2023NZ$146.8bNZ$102.4bNZ$7.0b16x20.9x1.4x
Fri, 17 Feb 2023NZ$166.2bNZ$100.8bNZ$6.4b17.3x25.8x1.6x
Sun, 15 Jan 2023NZ$161.3bNZ$100.4bNZ$6.6b15.8x24.4x1.6x
Tue, 13 Dec 2022NZ$158.9bNZ$100.0bNZ$6.6b16.4x24x1.6x
Thu, 10 Nov 2022NZ$154.7bNZ$99.3bNZ$7.8b16.2x19.9x1.6x
Sat, 08 Oct 2022NZ$155.0bNZ$99.9bNZ$7.9b17.5x19.7x1.6x
Mon, 05 Sep 2022NZ$163.4bNZ$98.0bNZ$7.7b17.8x21.1x1.7x
Wed, 03 Aug 2022NZ$163.4bNZ$96.4bNZ$8.3b19.1x19.6x1.7x
Fri, 01 Jul 2022NZ$154.6bNZ$96.4bNZ$8.4b17.7x18.5x1.6x
Sun, 29 May 2022NZ$158.9bNZ$100.3bNZ$8.6b17.9x18.5x1.6x
Tue, 26 Apr 2022NZ$169.0bNZ$100.5bNZ$8.7b18.4x19.4x1.7x
Thu, 24 Mar 2022NZ$171.3bNZ$100.2bNZ$8.8b17.8x19.6x1.7x
Sat, 19 Feb 2022NZ$174.6bNZ$99.0bNZ$9.0b17.5x19.4x1.8x
Mon, 17 Jan 2022NZ$181.8bNZ$98.2bNZ$9.0b19.2x20.3x1.9x
Wed, 15 Dec 2021NZ$182.6bNZ$98.1bNZ$9.0b18.5x20.4x1.9x
Fri, 12 Nov 2021NZ$183.3bNZ$96.7bNZ$8.2b19.8x22.3x1.9x
Sun, 10 Oct 2021NZ$183.8bNZ$96.1bNZ$8.0b22.9x23x1.9x
Tue, 07 Sep 2021NZ$187.4bNZ$95.3bNZ$8.0b22.9x23.4x2x
Thu, 05 Aug 2021NZ$180.7bNZ$95.4bNZ$8.0b21.3x22.7x1.9x
Sun, 09 May 2021NZ$182.9bNZ$94.0bNZ$6.6b22x27.7x1.9x
Price to Earnings Ratio

27.4x


Total Market Cap: NZ$181.2bTotal Earnings: NZ$6.6bTotal Revenue: NZ$94.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 22.7x202220232024
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 27.0x which is higher than its 3-year average PE of 22.7x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 4.6% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.8% 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-1.54%
Consumer Discretionary1.10%
Real Estate0.29%
Industrials-0.022%
Tech-0.31%
Healthcare-1.36%
Telecom-2.51%
Consumer Staples-2.54%
Financials-2.63%
Utilities-3.46%
Energy-3.76%
Materials-6.14%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 28.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 68.9% which is higher than its past year's earnings decline of 62.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 69% over the next 5 years.
  • This is better than its past earnings decline of 62% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 2.5% 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$6.361.4%
+NZ$65.1m
-1.1%PE27.5xConsumer Staples
VGL Vista Group InternationalNZ$1.9114.4%
+NZ$56.7m
38.4%PS3.2xTech
BGP Briscoe GroupNZ$4.794.1%
+NZ$42.4m
-2.4%PE12.7xConsumer Discretionary
MNW Manawa EnergyNZ$4.292.6%
+NZ$34.4m
-12.3%PE12xUtilities
VCT VectorNZ$3.800.8%
+NZ$30.0m
-2.3%PE55.2xUtilities
See more
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Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

Latest News

VGL

NZ$1.91

Vista Group International

7D

14.4%

1Y

38.4%

SPK

NZ$4.90

Spark New Zealand

7D

-2.7%

1Y

0%

CNU

NZ$7.68

Chorus

7D

-4.6%

1Y

-3.3%

EBO

NZ$37.07

EBOS Group

7D

-1.3%

1Y

-17.5%

FPH

NZ$23.98

Fisher & Paykel Healthcare

7D

-2.3%

1Y

-3.6%

MCY

NZ$6.80

Mercury NZ

7D

-1.5%

1Y

10.4%

VCT

NZ$3.80

Vector

7D

0.8%

1Y

-2.3%

MEL

NZ$5.60

Meridian Energy

7D

-4.8%

1Y

8.7%

HGH

NZ$1.17

Heartland Group Holdings

7D

-10.7%

1Y

-25.9%

FRW

NZ$8.42

Freightways Group

7D

-3.9%

1Y

-10.4%

HLG

NZ$6.30

Hallenstein Glasson Holdings

7D

6.4%

1Y

18.4%

MNW

NZ$4.29

Manawa Energy

7D

2.6%

1Y

-12.3%