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New Zealand (NZX) Consumer Staples Sector Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies16
  • 7D-1.1%
  • 3M6.7%
  • 1Y23.4%
  • YTD3.6%

Over the last 7 days, the Consumer Staples industry has dropped 1.1%, driven by declines in Fonterra Co-operative Group and a2 Milk of 1.0% and 1.1%, respectively. On the other hand My Food Bag Group is actually up 13%. This takes the industry's 12 month performance to a gain of 23%. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

Has the New Zealand Consumer Staples Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026NZ$21.8bNZ$34.3bNZ$1.4b9.5x15.5x0.6x
Mon, 16 Feb 2026NZ$20.6bNZ$33.7bNZ$1.3b10.2x15.7x0.6x
Wed, 14 Jan 2026NZ$21.1bNZ$33.7bNZ$1.3b9.7x16x0.6x
Fri, 12 Dec 2025NZ$20.5bNZ$33.7bNZ$1.3b9.7x15.6x0.6x
Sun, 09 Nov 2025NZ$20.9bNZ$33.8bNZ$1.3b9.6x16.2x0.6x
Tue, 07 Oct 2025NZ$20.3bNZ$33.8bNZ$1.3b9.2x15.8x0.6x
Thu, 04 Sep 2025NZ$20.3bNZ$33.9bNZ$1.4b9x14.1x0.6x
Sat, 02 Aug 2025NZ$17.1bNZ$33.6bNZ$1.3b11.6x12.8x0.5x
Mon, 30 Jun 2025NZ$16.7bNZ$33.5bNZ$1.3b11.3x12.7x0.5x
Wed, 28 May 2025NZ$17.0bNZ$33.5bNZ$1.3b11.6x12.9x0.5x
Fri, 25 Apr 2025NZ$16.7bNZ$33.5bNZ$1.3b13.3x12.9x0.5x
Sun, 23 Mar 2025NZ$17.6bNZ$33.4bNZ$1.2b12.5x14.6x0.5x
Tue, 18 Feb 2025NZ$15.0bNZ$31.9bNZ$1.2b10x12.9x0.5x
Thu, 16 Jan 2025NZ$14.2bNZ$31.8bNZ$1.1b15.5x12.4x0.4x
Sat, 14 Dec 2024NZ$14.3bNZ$31.8bNZ$1.1b16.3x12.5x0.4x
Mon, 11 Nov 2024NZ$13.7bNZ$31.7bNZ$1.1b16.4x12.1x0.4x
Wed, 09 Oct 2024NZ$13.5bNZ$31.7bNZ$1.1b17.6x11.9x0.4x
Fri, 06 Sep 2024NZ$12.5bNZ$31.8bNZ$1.4b18x8.9x0.4x
Sun, 04 Aug 2024NZ$12.9bNZ$31.6bNZ$1.4b14.5x9x0.4x
Tue, 02 Jul 2024NZ$12.5bNZ$30.5bNZ$1.1b9.2x11.7x0.4x
Thu, 30 May 2024NZ$12.5bNZ$31.8bNZ$1.6b10.7x7.8x0.4x
Sat, 27 Apr 2024NZ$11.4bNZ$31.8bNZ$1.6b12.2x7.2x0.4x
Mon, 25 Mar 2024NZ$11.8bNZ$31.8bNZ$1.7b11.4x7.1x0.4x
Wed, 21 Feb 2024NZ$11.6bNZ$33.2bNZ$1.6b11.4x7.5x0.4x
Fri, 19 Jan 2024NZ$11.1bNZ$33.2bNZ$1.5b11.7x7.2x0.3x
Sun, 17 Dec 2023NZ$11.0bNZ$33.2bNZ$1.5b10.6x7.1x0.3x
Tue, 14 Nov 2023NZ$10.5bNZ$33.2bNZ$1.6b11.6x6.5x0.3x
Thu, 12 Oct 2023NZ$11.2bNZ$33.2bNZ$1.6b11.7x7x0.3x
Sat, 09 Sep 2023NZ$11.8bNZ$34.7bNZ$1.6b13x7.3x0.3x
Mon, 07 Aug 2023NZ$12.7bNZ$34.6bNZ$1.6b14x7.7x0.4x
Wed, 05 Jul 2023NZ$12.8bNZ$34.5bNZ$1.6b16.6x7.8x0.4x
Fri, 02 Jun 2023NZ$12.7bNZ$34.2bNZ$1.2b14.4x10.2x0.4x
Sun, 30 Apr 2023NZ$12.5bNZ$34.2bNZ$1.3b14.3x9.9x0.4x
Tue, 28 Mar 2023NZ$13.2bNZ$34.3bNZ$1.2b13x11.2x0.4x
Price to Earnings Ratio

11.2x


Total Market Cap: NZ$13.2bTotal Earnings: NZ$1.2bTotal Revenue: NZ$34.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Consumer Staples Sector Price to Earnings3Y Average 11.1x202420252026
Current Industry PE
  • Investors are optimistic on the New Zealander Consumer Staples industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 15.5x which is higher than its 3-year average PE of 11.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.45x.
Past Earnings Growth
  • The earnings for companies in the Consumer Staples industry have grown 5.8% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the New Zealand Consumer Staples sector?

NZ Market-1.42%
Consumer Staples-1.13%
Food and Staples Retail4.79%
Personal Products2.86%
Food-1.06%
Beverage-7.46%
Industry PE
  • Investors are most optimistic about the Food industry which is trading above its 3-year average PE ratio of 10.4x.
    • Analysts are expecting annual earnings growth of 16.9%, which is lower than the prior year's growth of 70.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Personal Products industry, expecting annual earnings growth of 63% over the next 5 years.
  • In contrast, the Food and Staples Retail industry is expected to see its earnings grow by 5.9% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
MFB My Food Bag GroupNZ$0.2312.5%
+NZ$6.3m		21.0%PE9x
GXH Green Cross HealthNZ$1.222.5%
+NZ$4.3m		62.7%PE10x
SCL ScalesNZ$6.000.3%
+NZ$2.9m		44.2%PE8.6x
PGW PGG WrightsonNZ$2.191.4%
+NZ$2.3m		18.4%PE13.8x
LIC Livestock ImprovementNZ$1.031.0%
+NZ$1.4m		-1.9%PE5.8x

Latest News

CVT
NZ$0.72
Comvita
7D
2.9%
1Y
2.9%
PGW
NZ$2.19
PGG Wrightson
7D
1.4%
1Y
18.4%
FCG
NZ$6.22
Fonterra Co-operative Group
7D
-1.0%
1Y
24.9%
SEK
NZ$5.24
Seeka
7D
-2.1%
1Y
55.5%
ATM
NZ$11.42
a2 Milk
7D
-1.1%
1Y
27.7%
SCL
NZ$6.00
Scales
7D
0.3%
1Y
44.2%

SCL: Higher Future P/E Multiple Will Shape Prospective Return Profile

Analysts have lifted their price target on Scales by NZ$0.05 to NZ$6.90, citing updated assumptions on fair value, revenue growth, profit margins, and a higher future P/E multiple as key drivers of the change. Analyst Commentary Bullish Takeaways Bullish analysts point to the revised fair value work as support for the higher NZ$6.90 target, suggesting that updated assumptions around earnings power and margin profile justify a richer P/E multiple over time.
SML
NZ$0.48
Synlait Milk
7D
-1.0%
1Y
-52.0%

SML: Lower Discount Rate And Firmer Margins Will Support Upside Potential

Analysts have slightly reduced their price target for Synlait Milk to NZ$0.57, reflecting updated views on discount rates, expected revenue trends, profit margins and future P/E assumptions. Valuation Changes Fair Value: NZ$0.57 is unchanged, so the updated assessment keeps the same headline valuation level.
SAN
NZ$7.11
Sanford
7D
-2.1%
1Y
43.1%
TGG
NZ$2.35
T&G Global
7D
-6.0%
1Y
37.4%
FWL
NZ$0.56
Foley Wines
7D
-3.4%
1Y
-18.1%
DGL
NZ$4.01
Delegat Group
7D
-7.8%
1Y
-10.9%
GXH
NZ$1.22
Green Cross Health
7D
2.5%
1Y
62.7%
LIC
NZ$1.03
Livestock Improvement
7D
1.0%
1Y
-1.9%

Livestock Improvement's (NZSE:LIC) Earnings Are Of Questionable Quality

Jan 30
Livestock Improvement's (NZSE:LIC) Earnings Are Of Questionable Quality
MFB
NZ$0.23
My Food Bag Group
7D
12.5%
1Y
21.0%