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New Zealand (NZX) Consumer Staples Sector Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies16
  • 7D1.0%
  • 3M-0.3%
  • 1Y38.1%
  • YTD-1.7%

Over the last 7 days, the Consumer Staples industry has risen 1.0%, driven by gains in a2 Milk and Fonterra Co-operative Group of 1.0% and 0.7%, respectively. Meanwhile, Synlait Milk actually underperformed within the industry, shrinking 5.7% in the last week. In the last 12 months, the industry was up 38%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Feb 2026NZ$20.7bNZ$33.7bNZ$1.3b10.2x15.8x0.6x
Mon, 12 Jan 2026NZ$21.1bNZ$33.7bNZ$1.3b9.8x16x0.6x
Wed, 10 Dec 2025NZ$20.5bNZ$33.7bNZ$1.3b9.4x15.6x0.6x
Fri, 07 Nov 2025NZ$21.0bNZ$33.8bNZ$1.3b9.2x16.3x0.6x
Sun, 05 Oct 2025NZ$20.3bNZ$33.8bNZ$1.3b9.2x15.8x0.6x
Tue, 02 Sep 2025NZ$20.5bNZ$33.9bNZ$1.4b8.7x14.2x0.6x
Thu, 31 Jul 2025NZ$17.1bNZ$33.6bNZ$1.3b11.7x12.8x0.5x
Sat, 28 Jun 2025NZ$16.7bNZ$33.5bNZ$1.3b11.3x12.7x0.5x
Mon, 26 May 2025NZ$16.9bNZ$33.5bNZ$1.3b11.6x12.8x0.5x
Wed, 23 Apr 2025NZ$16.6bNZ$33.5bNZ$1.3b13.7x12.8x0.5x
Fri, 21 Mar 2025NZ$17.7bNZ$33.4bNZ$1.2b12.6x14.7x0.5x
Sun, 16 Feb 2025NZ$15.0bNZ$31.8bNZ$1.2b9.8x12.9x0.5x
Tue, 14 Jan 2025NZ$14.1bNZ$31.8bNZ$1.1b15.6x12.3x0.4x
Thu, 12 Dec 2024NZ$14.4bNZ$31.8bNZ$1.1b16.1x12.6x0.5x
Sat, 09 Nov 2024NZ$13.7bNZ$31.7bNZ$1.1b16.4x12x0.4x
Mon, 07 Oct 2024NZ$13.3bNZ$31.7bNZ$1.1b17.3x11.7x0.4x
Wed, 04 Sep 2024NZ$12.9bNZ$31.8bNZ$1.3b17.9x9.7x0.4x
Fri, 02 Aug 2024NZ$13.1bNZ$31.6bNZ$1.4b14.5x9.1x0.4x
Sun, 30 Jun 2024NZ$12.4bNZ$30.5bNZ$1.1b9.2x11.6x0.4x
Tue, 28 May 2024NZ$13.1bNZ$31.8bNZ$1.6b10.5x8.2x0.4x
Thu, 25 Apr 2024NZ$11.4bNZ$31.8bNZ$1.6b11.8x7.2x0.4x
Sat, 23 Mar 2024NZ$12.6bNZ$31.8bNZ$1.7b11.4x7.5x0.4x
Mon, 19 Feb 2024NZ$11.3bNZ$33.2bNZ$1.5b11.1x7.3x0.3x
Wed, 17 Jan 2024NZ$11.0bNZ$33.2bNZ$1.5b11.9x7.1x0.3x
Fri, 15 Dec 2023NZ$10.9bNZ$33.2bNZ$1.5b10.7x7x0.3x
Sun, 12 Nov 2023NZ$10.5bNZ$33.2bNZ$1.6b11.5x6.5x0.3x
Tue, 10 Oct 2023NZ$11.0bNZ$33.2bNZ$1.6b11.7x6.9x0.3x
Thu, 07 Sep 2023NZ$11.8bNZ$34.7bNZ$1.6b13x7.3x0.3x
Sat, 05 Aug 2023NZ$12.7bNZ$34.6bNZ$1.6b14x7.7x0.4x
Mon, 03 Jul 2023NZ$12.8bNZ$34.5bNZ$1.6b15.1x7.7x0.4x
Wed, 31 May 2023NZ$12.8bNZ$34.2bNZ$1.2b14.7x10.3x0.4x
Fri, 28 Apr 2023NZ$12.3bNZ$34.2bNZ$1.3b14.1x9.8x0.4x
Sun, 26 Mar 2023NZ$13.2bNZ$34.3bNZ$1.2b13.4x11.2x0.4x
Tue, 21 Feb 2023NZ$14.1bNZ$31.8bNZ$1.0b13.9x14.1x0.4x
Price to Earnings Ratio

14.1x


Total Market Cap: NZ$14.1bTotal Earnings: NZ$1.0bTotal Revenue: NZ$31.8bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Consumer Staples Sector Price to Earnings3Y Average 11x202420252026
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 15.8x which is higher than its 3-year average PE of 11.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.44x.
Past Earnings Growth
  • The earnings for companies in the Consumer Staples industry have grown 9.4% 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 Market0.41%
Consumer Staples1.02%
Food and Staples Retail1.51%
Food1.05%
Beverage0.29%
Personal Products-5.80%
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 15.3%, which is lower than the prior year's growth of 42.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Personal Products industry, expecting annual earnings growth of 66% over the next 5 years.
  • In contrast, the Food and Staples Retail industry is expected to see its earnings grow by 6.2% 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$10.001.0%
+NZ$72.5m		52.0%PE35.8x
FCG Fonterra Co-operative GroupNZ$6.050.7%
+NZ$64.2m		35.3%PE9.7x
TGG T&G GlobalNZ$2.767.0%
+NZ$22.1m		72.5%PE78.7x
SCL ScalesNZ$5.961.4%
+NZ$11.6m		41.2%PE16.9x
DGL Delegat GroupNZ$4.310.7%
+NZ$3.0m		-10.6%PE8.9x

Latest News

FCG
NZ$6.05
Fonterra Co-operative Group
7D
0.7%
1Y
35.3%
SML
NZ$0.50
Synlait Milk
7D
-5.7%
1Y
-35.1%

SML: Lower Earnings Assumptions Will Temper Upside While Risks Remain Contained

Analysts have reduced their fair value estimate for Synlait Milk from $0.92 to $0.57, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that reflect more cautious expectations for the business. Valuation Changes Fair Value Estimate reduced from NZ$0.92 to NZ$0.57, implying a materially lower assessed valuation per share.
SCL
NZ$5.96
Scales
7D
1.4%
1Y
41.2%

SCL: Sector Repricing And 2026 Distribution Will Shape Future Return Profile

Analysts have maintained their fair value estimate for Scales at $6.68, while making minor adjustments to assumptions such as the discount rate and forward P/E to reflect recent, more constructive sector commentary on chemical names ahead of earnings. Analyst Commentary Bullish analysts are using the recent sector commentary on chemical names to refine their views on Scales, with the unchanged fair value estimate of $6.68 serving as a key reference point.
DGL
NZ$4.31
Delegat Group
7D
0.7%
1Y
-10.6%
NZK
NZ$0.20
New Zealand King Salmon Investments
7D
-7.0%
1Y
-18.4%

NZK: Steady Assumptions Will Support Future Upside Potential

Analysts have held their fair value estimate for New Zealand King Salmon Investments steady at $0.30 per share, citing only minor tweaks to assumptions such as the discount rate and future P/E that did not materially shift their overall view on the stock. Valuation Changes Fair Value: The fair value estimate held steady at NZ$0.30 per share.
ATM
NZ$10.00
a2 Milk
7D
1.0%
1Y
52.0%

ATM: China Registration Progress And 2026 Guidance Will Support Balanced Outlook

Analysts kept their fair value estimate for a2 Milk steady at A$10.38 while making only very small adjustments to the discount rate, profit margin and future P/E assumptions, reflecting largely unchanged views on the stock's risk profile and earnings power. What's in the News a2 Milk received approvals from New Zealand's Ministry for Primary Industries and the General Administration of China Customs to progress the transition of two China label infant milk formula registrations linked to the Pokeno facility into a2 Milk branded products.
SEK
NZ$4.51
Seeka
7D
0.4%
1Y
35.4%
LIC
NZ$1.00
Livestock Improvement
7D
-1.0%
1Y
-4.8%

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

Jan 30
Livestock Improvement's (NZSE:LIC) Earnings Are Of Questionable Quality
GXH
NZ$1.40
Green Cross Health
7D
1.1%
1Y
70.7%

Green Cross Health Limited's (NZSE:GXH) Shares Bounce 26% But Its Business Still Trails The Market

Jan 29
Green Cross Health Limited's (NZSE:GXH) Shares Bounce 26% But Its Business Still Trails The Market
TGG
NZ$2.76
T&G Global
7D
7.0%
1Y
72.5%
PGW
NZ$2.28
PGG Wrightson
7D
-0.9%
1Y
11.2%
FWL
NZ$0.62
Foley Wines
7D
-1.6%
1Y
6.9%
MFB
NZ$0.23
My Food Bag Group
7D
-6.1%
1Y
12.2%
SAN
NZ$7.30
Sanford
7D
-1.4%
1Y
55.0%
CVT
NZ$0.65
Comvita
7D
-5.8%
1Y
-18.8%