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New Zealand (NZX) Market Analysis & Valuation

UpdatedAug 02, 2026
DataAggregated Company Financials
Companies103
  • 7D-0.6%
  • 3M3.1%
  • 1Y4.6%
  • YTD-0.7%

The market has been flat in the last week, however the Financials sector is down 4.3%. Meanwhile, the market is actually up 4.6% over the past year. As for the next few years, earnings are expected to grow by 18% per annum.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 02 Aug 2026NZ$180.3bNZ$117.6bNZ$5.1b16.8x35.4x1.5x
Tue, 30 Jun 2026NZ$179.6bNZ$117.9bNZ$5.1b17.2x35.2x1.5x
Thu, 28 May 2026NZ$177.3bNZ$117.8bNZ$5.0b16.7x35.5x1.5x
Sat, 25 Apr 2026NZ$173.4bNZ$118.5bNZ$4.6b16.9x38x1.5x
Mon, 23 Mar 2026NZ$172.0bNZ$117.2bNZ$4.6b17.6x37.5x1.5x
Wed, 18 Feb 2026NZ$174.4bNZ$115.6bNZ$4.0b18.1x43.2x1.5x
Fri, 16 Jan 2026NZ$181.1bNZ$115.5bNZ$4.0b18.6x45.7x1.6x
Sun, 14 Dec 2025NZ$177.1bNZ$115.3bNZ$3.9b18.1x45.4x1.5x
Tue, 11 Nov 2025NZ$181.2bNZ$116.1bNZ$3.5b19.1x52x1.6x
Thu, 09 Oct 2025NZ$181.3bNZ$115.9bNZ$3.5b19.3x52.2x1.6x
Sat, 06 Sep 2025NZ$176.9bNZ$115.7bNZ$3.6b18.2x48.6x1.5x
Mon, 04 Aug 2025NZ$169.4bNZ$115.7bNZ$3.5b19.6x48.8x1.5x
Wed, 02 Jul 2025NZ$168.2bNZ$116.0bNZ$3.5b19.2x48.6x1.5x
Fri, 30 May 2025NZ$164.3bNZ$115.7bNZ$3.3b18.6x50x1.4x
Sun, 27 Apr 2025NZ$160.2bNZ$115.2bNZ$2.6b18.2x61.1x1.4x
Tue, 25 Mar 2025NZ$160.6bNZ$115.4bNZ$2.5b18.7x63x1.4x
Thu, 20 Feb 2025NZ$173.0bNZ$114.3bNZ$3.2b20.4x54.8x1.5x
Sat, 18 Jan 2025NZ$171.0bNZ$113.7bNZ$3.1b20.5x54.4x1.5x
Mon, 16 Dec 2024NZ$167.6bNZ$113.6bNZ$3.1b19.7x53.4x1.5x
Wed, 13 Nov 2024NZ$170.6bNZ$112.9bNZ$4.2b19.6x40.4x1.5x
Fri, 11 Oct 2024NZ$168.1bNZ$112.9bNZ$4.3b19.3x39.2x1.5x
Sun, 08 Sep 2024NZ$164.8bNZ$112.9bNZ$4.7b20.1x35.4x1.5x
Tue, 06 Aug 2024NZ$161.8bNZ$110.5bNZ$4.7b17.7x34.7x1.5x
Thu, 04 Jul 2024NZ$155.9bNZ$109.6bNZ$4.3b15.1x36.2x1.4x
Sat, 01 Jun 2024NZ$151.9bNZ$110.8bNZ$5.3b14.9x28.7x1.4x
Mon, 29 Apr 2024NZ$154.9bNZ$110.1bNZ$5.8b17x26.6x1.4x
Wed, 27 Mar 2024NZ$157.2bNZ$109.9bNZ$5.9b17.1x26.6x1.4x
Fri, 23 Feb 2024NZ$154.7bNZ$110.3bNZ$6.5b15x23.9x1.4x
Sun, 21 Jan 2024NZ$156.0bNZ$109.3bNZ$6.7b15.7x23.5x1.4x
Tue, 19 Dec 2023NZ$154.7bNZ$109.3bNZ$6.6b15.9x23.3x1.4x
Thu, 16 Nov 2023NZ$149.8bNZ$108.6bNZ$5.7b17x26.5x1.4x
Sat, 14 Oct 2023NZ$151.7bNZ$109.0bNZ$5.8b16.2x26x1.4x
Mon, 11 Sep 2023NZ$154.1bNZ$110.6bNZ$5.9b16.7x26.1x1.4x
Wed, 09 Aug 2023NZ$162.9bNZ$108.3bNZ$6.6b17.2x24.8x1.5x
Price to Earnings Ratio

24.8x


Total Market Cap: NZ$162.9bTotal Earnings: NZ$6.6bTotal Revenue: NZ$108.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 40.2x202420252026
Current Market PE
  • Investors are pessimistic on the New Zealander market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 35.4x which is lower than its 3-year average PE of 40.2x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 8.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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-0.64%
Materials2.47%
Healthcare2.01%
Industrials0.80%
Tech0.65%
Energy0.29%
Telecom-0.089%
Consumer Staples-0.85%
Utilities-1.49%
Consumer Discretionary-2.90%
Real Estate-3.41%
Financials-4.35%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 32.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.0% which is higher than its past year's earnings decline of 19.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 103% over the next 5 years.
  • In contrast, the Industrials sector is expected to see its earnings grow by 12% 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
FPH Fisher & Paykel HealthcareNZ$40.693.2%
+NZ$745.9m		13.0%PE51xHealthcare
MFT MainfreightNZ$69.208.5%
+NZ$548.8m		16.3%PE27.8xIndustrials
AIA Auckland International AirportNZ$8.711.5%
+NZ$221.0m		16.1%PE36.1xIndustrials
SPK Spark New ZealandNZ$1.922.4%
+NZ$85.1m		-21.8%PE13.2xTelecom
AFT AFT PharmaceuticalsNZ$4.8112.6%
+NZ$56.6m		76.8%PE34.2xHealthcare
See more

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SKO
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12.1%
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7D
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FPH
NZ$40.69
Fisher & Paykel Healthcare
7D
3.2%
1Y
13.0%
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FPH: Removal From Conviction List Will Pressure Overvalued Shares

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SKL
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7D
3.4%
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IFT
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EBO
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EBOS Group
7D
0.2%
1Y
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GNZ
NZ$2.00
Goodman Property Trust
7D
-6.5%
1Y
-0.5%
MFT
NZ$69.20
Mainfreight
7D
8.5%
1Y
16.3%
AIA
NZ$8.71
Auckland International Airport
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1.5%
1Y
16.1%
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Port of Tauranga
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-4.1%
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