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New Zealand (NZX) Consumer Staples Sector Analysis

UpdatedMay 05, 2026
DataAggregated Company Financials
Companies16
  • 7D-7.4%
  • 3M-3.7%
  • 1Y18.6%
  • YTD-5.5%

Over the last 7 days, the Consumer Staples industry has dropped 3.3%, driven by pullbacks in Fonterra Co-operative Group and a2 Milk of 7.3% and 12%, respectively. This takes the industry's 12 month performance to a gain of 24%. Looking forward, earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 05 May 2026NZ$19.9bNZ$35.4bNZ$1.4b10.4x14.7x0.6x
Thu, 02 Apr 2026NZ$21.4bNZ$35.4bNZ$1.4b9x15.8x0.6x
Sat, 28 Feb 2026NZ$21.9bNZ$34.2bNZ$1.4b9.5x15.9x0.6x
Mon, 26 Jan 2026NZ$20.2bNZ$33.7bNZ$1.3b9.7x15.4x0.6x
Wed, 24 Dec 2025NZ$20.7bNZ$33.7bNZ$1.3b9.6x15.7x0.6x
Fri, 21 Nov 2025NZ$20.9bNZ$33.8bNZ$1.3b9.9x16x0.6x
Sun, 19 Oct 2025NZ$20.5bNZ$33.8bNZ$1.3b9.2x16x0.6x
Tue, 16 Sep 2025NZ$20.2bNZ$33.9bNZ$1.4b9.1x14x0.6x
Thu, 14 Aug 2025NZ$17.2bNZ$33.7bNZ$1.4b13.9x12.7x0.5x
Sat, 12 Jul 2025NZ$16.4bNZ$33.5bNZ$1.3b11.6x12.4x0.5x
Mon, 09 Jun 2025NZ$17.1bNZ$33.5bNZ$1.3b11.2x12.9x0.5x
Wed, 07 May 2025NZ$16.6bNZ$33.5bNZ$1.3b13.6x12.8x0.5x
Fri, 04 Apr 2025NZ$16.7bNZ$33.5bNZ$1.3b13.7x12.9x0.5x
Sun, 02 Mar 2025NZ$17.0bNZ$31.9bNZ$1.2b13.4x14.6x0.5x
Tue, 28 Jan 2025NZ$14.8bNZ$31.8bNZ$1.2b9.9x12.7x0.5x
Thu, 26 Dec 2024NZ$14.1bNZ$31.8bNZ$1.1b15.8x12.3x0.4x
Sat, 23 Nov 2024NZ$13.8bNZ$31.8bNZ$1.1b15.1x12x0.4x
Mon, 21 Oct 2024NZ$13.9bNZ$31.7bNZ$1.1b17.7x12.2x0.4x
Wed, 18 Sep 2024NZ$12.5bNZ$31.8bNZ$1.3b17x9.3x0.4x
Fri, 16 Aug 2024NZ$12.7bNZ$31.7bNZ$1.4b13x9x0.4x
Sun, 14 Jul 2024NZ$12.9bNZ$31.6bNZ$1.4b10.3x8.9x0.4x
Tue, 11 Jun 2024NZ$12.9bNZ$30.5bNZ$1.1b10.9x12x0.4x
Thu, 09 May 2024NZ$11.5bNZ$31.8bNZ$1.6b10.8x7.2x0.4x
Sat, 06 Apr 2024NZ$11.4bNZ$31.8bNZ$1.6b11.7x7.2x0.4x
Mon, 04 Mar 2024NZ$11.7bNZ$33.0bNZ$1.5b11.9x7.8x0.4x
Wed, 31 Jan 2024NZ$11.1bNZ$33.2bNZ$1.5b11.7x7.2x0.3x
Fri, 29 Dec 2023NZ$11.3bNZ$33.2bNZ$1.5b11.7x7.3x0.3x
Sun, 26 Nov 2023NZ$10.5bNZ$33.2bNZ$1.5b11.4x6.8x0.3x
Tue, 24 Oct 2023NZ$10.9bNZ$33.2bNZ$1.6b11.9x6.9x0.3x
Thu, 21 Sep 2023NZ$11.8bNZ$34.7bNZ$1.6b13x7.3x0.3x
Sat, 19 Aug 2023NZ$12.3bNZ$34.6bNZ$1.6b16.6x7.5x0.4x
Mon, 17 Jul 2023NZ$12.7bNZ$34.5bNZ$1.6b16.1x7.7x0.4x
Wed, 14 Jun 2023NZ$12.7bNZ$34.0bNZ$1.2b14.6x10.3x0.4x
Fri, 12 May 2023NZ$12.3bNZ$34.2bNZ$1.3b14.5x9.8x0.4x
Price to Earnings Ratio

9.8x


Total Market Cap: NZ$12.3bTotal Earnings: NZ$1.3bTotal Revenue: NZ$34.2bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Consumer Staples Sector Price to Earnings3Y Average 11.3x202420252026
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 15.4x which is higher than its 3-year average PE of 11.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.46x.
Past Earnings Growth
  • The earnings for companies in the Consumer Staples industry have grown 2.6% 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 Market1.17%
Consumer Staples-7.40%
Food and Staples Retail5.14%
Personal Products-1.49%
Beverage-3.45%
Food-7.65%
Industry PE
  • Investors are most optimistic about the Food industry which is trading above its 3-year average PE ratio of 10.6x.
    • Analysts are expecting annual earnings growth of 18.6%, 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 62% over the next 5 years.
  • In contrast, the Food and Staples Retail industry is expected to see its earnings grow by 4.6% 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
SAN SanfordNZ$7.672.8%
+NZ$19.6m		64.6%PE11.3x
SCL ScalesNZ$6.132.0%
+NZ$17.4m		44.9%PE8.8x
MFB My Food Bag GroupNZ$0.2712.5%
+NZ$7.5m		50.0%PE10.8x
GXH Green Cross HealthNZ$1.422.9%
+NZ$5.7m		91.9%PE11.7x
FWL Foley WinesNZ$0.545.4%
+NZ$1.8m		-14.7%PS0.5x

Latest News

SML
NZ$0.43
Synlait Milk
7D
-5.5%
1Y
-41.1%

SML: Slightly Softer Outlook And Firmer Margins Will Shape Future Returns

Analysts have trimmed their Synlait Milk price target slightly to NZ$0.50, citing a small adjustment to the discount rate, a modestly weaker revenue growth outlook, and a slightly higher assumed profit margin. Together, these factors point to a similar valuation anchored by a lower forward P/E of 9.27x.
SCL
NZ$6.13
Scales
7D
2.0%
1Y
44.9%

SCL: Stable Sector Assumptions Will Support Future Upside Repricing

Analysts have kept their NZ$ price target for Scales broadly unchanged. This reflects consistent assumptions around fair value, discount rate, revenue growth, profit margins and future P/E, with only minor technical adjustments to the underlying model inputs.
TGG
NZ$2.45
T&G Global
7D
-1.2%
1Y
45.0%
ATM
NZ$8.05
a2 Milk
7D
-11.8%
1Y
-11.0%

ATM: Dividend And Mid Double-Digit FY26 Growth Outlook Will Support Upside

Analysts have trimmed their 12 month price target on a2 Milk from NZ$10.93 to NZ$10.53, reflecting updated assumptions for revenue, profit margins and future P/E multiples. What's in the News a2 Milk updated FY26 guidance to revenue growth in the low to mid double-digit range versus FY25, clarifying that double digit refers to 10% to 20% (Corporate guidance).
GXH
NZ$1.42
Green Cross Health
7D
2.9%
1Y
91.9%
CVT
NZ$0.66
Comvita
7D
-1.5%
1Y
26.9%
FCG
NZ$4.33
Fonterra Co-operative Group
7D
-7.3%
1Y
43.4%
SEK
NZ$5.09
Seeka
7D
-0.2%
1Y
33.9%
SAN
NZ$7.67
Sanford
7D
2.8%
1Y
64.6%
FWL
NZ$0.54
Foley Wines
7D
5.4%
1Y
-14.7%
DGL
NZ$3.91
Delegat Group
7D
-4.2%
1Y
3.4%
MFB
NZ$0.27
My Food Bag Group
7D
12.5%
1Y
50.0%