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New Zealand (NZX) Consumer Staples Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies16
  • 7D0.8%
  • 3M3.3%
  • 1Y28.5%
  • YTD3.1%

The Consumer Staples industry has been flat over the last week, but Fonterra Co-operative Group has lost 3.5%. The past year has been better, since the industry has gained 28% in that time. 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
Wed, 01 Apr 2026NZ$21.7bNZ$35.4bNZ$1.4b9x16x0.6x
Fri, 27 Feb 2026NZ$21.7bNZ$34.2bNZ$1.4b9.7x15.8x0.6x
Sun, 25 Jan 2026NZ$20.2bNZ$33.7bNZ$1.3b9.7x15.4x0.6x
Tue, 23 Dec 2025NZ$20.7bNZ$33.7bNZ$1.3b9.4x15.7x0.6x
Thu, 20 Nov 2025NZ$20.9bNZ$33.8bNZ$1.3b9.7x15.9x0.6x
Sat, 18 Oct 2025NZ$20.5bNZ$33.8bNZ$1.3b9.2x16x0.6x
Mon, 15 Sep 2025NZ$20.1bNZ$33.9bNZ$1.4b8.9x14x0.6x
Wed, 13 Aug 2025NZ$17.2bNZ$33.7bNZ$1.4b13.8x12.7x0.5x
Fri, 11 Jul 2025NZ$16.4bNZ$33.5bNZ$1.3b11.6x12.4x0.5x
Sun, 08 Jun 2025NZ$17.1bNZ$33.5bNZ$1.3b11.2x12.9x0.5x
Tue, 06 May 2025NZ$16.7bNZ$33.5bNZ$1.3b14x12.9x0.5x
Thu, 03 Apr 2025NZ$16.7bNZ$33.5bNZ$1.3b13.7x12.9x0.5x
Sat, 01 Mar 2025NZ$17.2bNZ$31.9bNZ$1.2b12.5x14.6x0.5x
Mon, 27 Jan 2025NZ$14.8bNZ$31.8bNZ$1.2b9.5x12.7x0.5x
Wed, 25 Dec 2024NZ$14.1bNZ$31.8bNZ$1.1b15.8x12.3x0.4x
Fri, 22 Nov 2024NZ$13.8bNZ$31.8bNZ$1.1b15.2x12x0.4x
Sun, 20 Oct 2024NZ$13.9bNZ$31.7bNZ$1.1b17.7x12.2x0.4x
Tue, 17 Sep 2024NZ$12.6bNZ$31.8bNZ$1.3b17.5x9.4x0.4x
Thu, 15 Aug 2024NZ$12.8bNZ$31.7bNZ$1.4b13.1x9x0.4x
Sat, 13 Jul 2024NZ$12.9bNZ$31.6bNZ$1.4b10.3x8.9x0.4x
Mon, 10 Jun 2024NZ$13.0bNZ$30.5bNZ$1.1b11.1x12.1x0.4x
Wed, 08 May 2024NZ$11.4bNZ$31.8bNZ$1.6b10.5x7.2x0.4x
Fri, 05 Apr 2024NZ$11.4bNZ$31.8bNZ$1.6b11.7x7.2x0.4x
Sun, 03 Mar 2024NZ$11.7bNZ$33.0bNZ$1.5b11.9x7.8x0.4x
Tue, 30 Jan 2024NZ$11.1bNZ$33.2bNZ$1.5b11.5x7.2x0.3x
Thu, 28 Dec 2023NZ$11.2bNZ$33.2bNZ$1.5b11.9x7.3x0.3x
Sat, 25 Nov 2023NZ$10.5bNZ$33.2bNZ$1.5b11.4x6.8x0.3x
Mon, 23 Oct 2023NZ$10.9bNZ$33.2bNZ$1.6b11.9x6.9x0.3x
Wed, 20 Sep 2023NZ$11.8bNZ$34.7bNZ$1.6b13x7.3x0.3x
Fri, 18 Aug 2023NZ$12.6bNZ$34.6bNZ$1.6b13.3x7.7x0.4x
Sun, 16 Jul 2023NZ$12.7bNZ$34.5bNZ$1.6b16.1x7.7x0.4x
Tue, 13 Jun 2023NZ$12.7bNZ$34.0bNZ$1.2b14.7x10.3x0.4x
Thu, 11 May 2023NZ$12.3bNZ$34.2bNZ$1.3b14.5x9.8x0.4x
Sat, 08 Apr 2023NZ$12.9bNZ$34.2bNZ$1.3b14.4x10.3x0.4x
Price to Earnings Ratio

10.3x


Total Market Cap: NZ$12.9bTotal 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 11.1x202420252026
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 16.0x 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 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 Market1.27%
Consumer Staples0.83%
Personal Products4.48%
Food0.88%
Beverage0.078%
Food and Staples Retail-2.41%
Industry PE
  • Investors are most optimistic about the Food industry which is trading above its 3-year average PE ratio of 10.5x.
    • Analysts are expecting annual earnings growth of 17.7%, 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 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
ATM a2 MilkNZ$11.150.6%
+NZ$50.8m		28.9%PE39x
TGG T&G GlobalNZ$2.484.6%
+NZ$13.5m		43.4%PE29.8x
LIC Livestock ImprovementNZ$1.051.0%
+NZ$1.4m		0%PE5.9x
FWL Foley WinesNZ$0.560.9%
+NZ$328.7k		-5.8%PS0.6x

Latest News

FCG
NZ$6.13
Fonterra Co-operative Group
7D
-3.5%
1Y
32.1%
SML
NZ$0.44
Synlait Milk
7D
-8.3%
1Y
-41.3%

SML: Softer Margins And Revenue Outlook Will Temper Future Upside Potential

Analysts have trimmed their Synlait Milk price target from NZ$0.57 to NZ$0.50, reflecting updated assumptions for slightly lower profit margins, softer revenue growth expectations, a modestly higher discount rate, and a small adjustment to future P/E estimates. Valuation Changes Fair Value: Trimmed from NZ$0.57 to NZ$0.50, a reduction of around 12%.
SCL
NZ$6.00
Scales
7D
-2.1%
1Y
39.5%

SCL: Sector Re Rating And Stable Assumptions Will Support Future Return Profile

Analysts maintained their fair value and key assumptions for Scales broadly unchanged, keeping the price target around NZ$6.90. They are relying on recent sector research that highlights a more constructive stance on chemical names as earnings approach.
ATM
NZ$11.15
a2 Milk
7D
0.6%
1Y
28.9%

ATM: Dividend And FY26 Outlook Will Support Steady Future Returns

Analysts have kept their NZ$10.93 price target for a2 Milk unchanged, reflecting largely consistent assumptions around the discount rate, revenue growth, profit margin and future P/E relative to prior estimates. What's in the News a2 Milk declared an interim dividend of NZ$0.115 per share, described as unimputed and fully franked, representing around 74% of NPAT from continuing operations for the six months ended December 31, 2025 (Key Developments).
PGW
NZ$2.10
PGG Wrightson
7D
-3.7%
1Y
7.1%
SEK
NZ$4.69
Seeka
7D
-9.6%
1Y
19.9%
TGG
NZ$2.48
T&G Global
7D
4.6%
1Y
43.4%
FWL
NZ$0.56
Foley Wines
7D
0.9%
1Y
-5.8%
DGL
NZ$3.80
Delegat Group
7D
-1.6%
1Y
-12.6%
GXH
NZ$1.20
Green Cross Health
7D
-2.4%
1Y
62.2%
LIC
NZ$1.05
Livestock Improvement
7D
1.0%
1Y
0%

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

Jan 30
Livestock Improvement's (NZSE:LIC) Earnings Are Of Questionable Quality
MFB
NZ$0.20
My Food Bag Group
7D
-6.8%
1Y
2.5%