Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

New Zealand (NZX) Food Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies11
  • 7D0.5%
  • 3M-2.5%
  • 1Y39.7%
  • YTD-3.0%

In the last week, the Food industry is flat overall, with Synlait Milk standing out by going down 16%. The past year has been better, since the industry has gained 40% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the New Zealand Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026NZ$19.6bNZ$32.4bNZ$1.3b10.9x14.6x0.6x
Wed, 07 Jan 2026NZ$20.2bNZ$32.4bNZ$1.4b11x15x0.6x
Fri, 05 Dec 2025NZ$20.0bNZ$32.4bNZ$1.4b10.7x14.8x0.6x
Sun, 02 Nov 2025NZ$20.2bNZ$32.5bNZ$1.3b15.3x15.3x0.6x
Tue, 30 Sep 2025NZ$19.8bNZ$32.5bNZ$1.3b13.7x15x0.6x
Thu, 28 Aug 2025NZ$19.7bNZ$32.6bNZ$1.5b11.2x13.3x0.6x
Sat, 26 Jul 2025NZ$16.3bNZ$32.3bNZ$1.4b14.3x11.8x0.5x
Mon, 23 Jun 2025NZ$16.5bNZ$32.2bNZ$1.4b13.6x12x0.5x
Wed, 21 May 2025NZ$16.6bNZ$32.2bNZ$1.4b13.8x12.1x0.5x
Fri, 18 Apr 2025NZ$16.1bNZ$32.2bNZ$1.4b18.6x11.9x0.5x
Sun, 16 Mar 2025NZ$17.0bNZ$30.6bNZ$1.3b16.2x13.5x0.6x
Tue, 11 Feb 2025NZ$14.1bNZ$30.5bNZ$1.2b14.4x11.8x0.5x
Thu, 09 Jan 2025NZ$13.2bNZ$30.5bNZ$1.2b18.4x11.2x0.4x
Sat, 07 Dec 2024NZ$13.6bNZ$30.5bNZ$1.2b18.4x11.5x0.4x
Mon, 04 Nov 2024NZ$13.3bNZ$30.4bNZ$1.2b18.6x11.4x0.4x
Wed, 02 Oct 2024NZ$12.3bNZ$30.4bNZ$1.2b18.1x10.5x0.4x
Fri, 30 Aug 2024NZ$11.7bNZ$30.5bNZ$1.4b18.9x8.6x0.4x
Sun, 28 Jul 2024NZ$11.9bNZ$30.3bNZ$1.3b19.1x8.9x0.4x
Tue, 25 Jun 2024NZ$11.5bNZ$29.2bNZ$988.0m10.1x11.6x0.4x
Thu, 23 May 2024NZ$12.1bNZ$30.5bNZ$1.5b10.5x8.1x0.4x
Sat, 20 Apr 2024NZ$10.1bNZ$30.5bNZ$1.5b12x6.7x0.3x
Mon, 18 Mar 2024NZ$10.6bNZ$31.7bNZ$1.4b11.9x7.5x0.3x
Wed, 14 Feb 2024NZ$10.4bNZ$31.9bNZ$1.4b6.7x7.2x0.3x
Fri, 12 Jan 2024NZ$10.0bNZ$31.9bNZ$1.4b7.2x6.9x0.3x
Sun, 10 Dec 2023NZ$9.5bNZ$31.9bNZ$1.4b6.6x6.6x0.3x
Tue, 07 Nov 2023NZ$9.3bNZ$31.8bNZ$1.5b6.1x6.2x0.3x
Thu, 05 Oct 2023NZ$9.8bNZ$31.8bNZ$1.5b6x6.5x0.3x
Sat, 02 Sep 2023NZ$10.3bNZ$33.3bNZ$1.5b11.8x6.8x0.3x
Mon, 31 Jul 2023NZ$11.2bNZ$33.2bNZ$1.6b15.7x7.2x0.3x
Wed, 28 Jun 2023NZ$11.2bNZ$33.2bNZ$1.5b17.7x7.3x0.3x
Fri, 26 May 2023NZ$11.0bNZ$32.7bNZ$1.1b18.4x9.8x0.3x
Sun, 23 Apr 2023NZ$11.3bNZ$32.7bNZ$1.1b19.1x10.1x0.3x
Tue, 21 Mar 2023NZ$12.0bNZ$32.7bNZ$1.0b15.4x11.4x0.4x
Thu, 16 Feb 2023NZ$12.3bNZ$30.3bNZ$873.8m16.6x14.1x0.4x
Price to Earnings Ratio

14.1x


Total Market Cap: NZ$12.3bTotal Earnings: NZ$873.8mTotal Revenue: NZ$30.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Food Industry Price to Earnings3Y Average 10.4x202420252026
Current Industry PE
  • Investors are optimistic on the New Zealander Food industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.6x which is higher than its 3-year average PE of 10.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.43x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 2.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NZ Market0.22%
Consumer Staples0.42%
Food0.51%
Agricultural Products2.58%
Packaged Foods and Meats0.32%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 9.7x.
    • Analysts are expecting annual earnings growth of 15.7%, which is lower than the prior year's growth of 21.1% per year.
  • Investors are most pessimistic about the Agricultural Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 16% over the next 5 years.
  • However this is lower than its past earnings growth rate of 21% per year.
  • In contrast, the Agricultural Products industry is expected to see its earnings grow by 11% 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
FCG Fonterra Co-operative GroupNZ$6.010.8%
+NZ$80.2m		34.2%PE9.6x
ATM a2 MilkNZ$9.900.3%
+NZ$21.8m		52.3%PE35.4x
SCL ScalesNZ$5.882.3%
+NZ$18.9m		39.3%PE16.7x
TGG T&G GlobalNZ$2.586.2%
+NZ$18.4m		58.3%PE73.6x
SAN SanfordNZ$7.401.4%
+NZ$9.4m		63.4%PE10.9x

Latest News

SML
NZ$0.53
Synlait Milk
7D
-15.9%
1Y
-10.2%
ATM
NZ$9.90
a2 Milk
7D
0.3%
1Y
52.3%

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$4.49
Seeka
7D
-0.2%
1Y
36.1%
NZK
NZ$0.21
New Zealand King Salmon Investments
7D
4.9%
1Y
-4.4%
SCL
NZ$5.88
Scales
7D
2.3%
1Y
39.3%
LIC
NZ$1.01
Livestock Improvement
7D
1.0%
1Y
-3.8%

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

Jan 30
Livestock Improvement's (NZSE:LIC) Earnings Are Of Questionable Quality
TGG
NZ$2.58
T&G Global
7D
6.2%
1Y
58.3%
PGW
NZ$2.30
PGG Wrightson
7D
0.9%
1Y
22.3%
FCG
NZ$6.01
Fonterra Co-operative Group
7D
0.8%
1Y
34.2%

These 4 Measures Indicate That Fonterra Co-operative Group (NZSE:FCG) Is Using Debt Reasonably Well

Jan 05
These 4 Measures Indicate That Fonterra Co-operative Group (NZSE:FCG) Is Using Debt Reasonably Well
SAN
NZ$7.40
Sanford
7D
1.4%
1Y
63.4%
ALF
NZ$0.76
Allied Farmers
7D
-3.2%
1Y
-0.7%

We Think The Compensation For Allied Farmers Limited's (NZSE:ALF) CEO Looks About Right

Oct 30
We Think The Compensation For Allied Farmers Limited's (NZSE:ALF) CEO Looks About Right