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New Zealand (NZX) Food Industry Analysis

UpdatedSep 26, 2025
DataAggregated Company Financials
Companies12
  • 7D1.2%
  • 3M20.3%
  • 1Y56.5%
  • YTD45.4%

The Food industry is up 1.2% in the last week, with Fonterra Co-operative Group up 4.2%. Meanwhile, PGG Wrightson actually underperformed within the industry, shrinking 5.6% in the last week. This means that the industry has gained 57% over the past year. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Sep 2025NZ$19.4bNZ$32.4bNZ$1.3b14.1x15.1x0.6x
Mon, 25 Aug 2025NZ$19.2bNZ$32.6bNZ$1.5b11x13.2x0.6x
Wed, 23 Jul 2025NZ$16.2bNZ$32.3bNZ$1.4b14.4x11.7x0.5x
Fri, 20 Jun 2025NZ$16.5bNZ$32.2bNZ$1.4b13.6x12x0.5x
Sun, 18 May 2025NZ$16.4bNZ$32.2bNZ$1.4b13x11.9x0.5x
Tue, 15 Apr 2025NZ$16.0bNZ$32.2bNZ$1.4b19x11.8x0.5x
Thu, 13 Mar 2025NZ$16.5bNZ$30.6bNZ$1.3b16.2x13.2x0.5x
Sat, 08 Feb 2025NZ$14.1bNZ$30.5bNZ$1.2b14.5x11.9x0.5x
Mon, 06 Jan 2025NZ$13.3bNZ$30.5bNZ$1.2b18.5x11.3x0.4x
Wed, 04 Dec 2024NZ$13.7bNZ$30.5bNZ$1.2b18.7x11.6x0.4x
Fri, 01 Nov 2024NZ$13.6bNZ$30.4bNZ$1.2b18.7x11.5x0.4x
Sun, 29 Sep 2024NZ$12.8bNZ$30.1bNZ$1.3b17.9x10x0.4x
Tue, 27 Aug 2024NZ$12.0bNZ$30.4bNZ$1.3b22.8x9x0.4x
Thu, 25 Jul 2024NZ$11.9bNZ$30.3bNZ$1.3b19.4x8.9x0.4x
Sat, 22 Jun 2024NZ$11.4bNZ$29.2bNZ$988.0m10x11.6x0.4x
Mon, 20 May 2024NZ$11.6bNZ$30.5bNZ$1.5b10.5x7.7x0.4x
Wed, 17 Apr 2024NZ$10.1bNZ$30.5bNZ$1.5b11.6x6.7x0.3x
Fri, 15 Mar 2024NZ$10.8bNZ$31.7bNZ$1.4b12.1x7.7x0.3x
Sun, 11 Feb 2024NZ$10.2bNZ$31.9bNZ$1.4b7.3x7.1x0.3x
Tue, 09 Jan 2024NZ$10.0bNZ$31.9bNZ$1.4b6.9x6.9x0.3x
Thu, 07 Dec 2023NZ$9.2bNZ$31.9bNZ$1.4b6.7x6.4x0.3x
Sat, 04 Nov 2023NZ$9.3bNZ$31.8bNZ$1.5b6.1x6.2x0.3x
Mon, 02 Oct 2023NZ$9.8bNZ$33.0bNZ$1.5b6x6.4x0.3x
Wed, 30 Aug 2023NZ$10.5bNZ$33.3bNZ$1.5b11.7x6.9x0.3x
Fri, 28 Jul 2023NZ$11.2bNZ$33.2bNZ$1.6b15.7x7.2x0.3x
Sun, 25 Jun 2023NZ$11.3bNZ$33.2bNZ$1.5b17x7.3x0.3x
Tue, 23 May 2023NZ$11.1bNZ$32.7bNZ$1.1b18.3x10x0.3x
Thu, 20 Apr 2023NZ$11.5bNZ$32.7bNZ$1.1b19.1x10.2x0.4x
Sat, 18 Mar 2023NZ$12.0bNZ$32.7bNZ$1.0b16.2x11.5x0.4x
Mon, 13 Feb 2023NZ$12.4bNZ$30.3bNZ$873.8m16.7x14.2x0.4x
Wed, 11 Jan 2023NZ$12.5bNZ$30.3bNZ$876.1m15.6x14.3x0.4x
Fri, 09 Dec 2022NZ$12.0bNZ$30.3bNZ$876.1m15.2x13.7x0.4x
Sun, 06 Nov 2022NZ$11.5bNZ$30.3bNZ$828.6m18x13.8x0.4x
Tue, 04 Oct 2022NZ$11.8bNZ$30.3bNZ$828.6m19x14.3x0.4x
Price to Earnings Ratio

14.3x


Total Market Cap: NZ$11.8bTotal Earnings: NZ$828.6mTotal Revenue: NZ$30.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Food Industry Price to Earnings3Y Average 10.3x202320242025
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 15.1x which is higher than its 3-year average PE of 10.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.40x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 16% 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 Market0.45%
Consumer Staples1.07%
Food1.19%
Packaged Foods and Meats1.50%
Agricultural Products-2.32%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 9.5x.
    • Analysts are expecting annual earnings growth of 18.2%, 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 18% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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$6.204.2%
+NZ$401.0m		61.5%PE9.9x
ATM a2 MilkNZ$9.620.2%
+NZ$14.5m		41.7%PE34.4x
NZK New Zealand King Salmon InvestmentsNZ$0.216.1%
+NZ$6.5m		-12.5%PS0.6x
SML Synlait MilkNZ$0.701.4%
+NZ$6.0m		79.5%PS0.2x
LIC Livestock ImprovementNZ$0.983.2%
+NZ$4.3m		-2.0%PE4.6x

Latest News

FCG
NZ$6.20
Fonterra Co-operative Group
7D
4.2%
1Y
61.5%
ATM
NZ$9.62
a2 Milk
7D
0.2%
1Y
41.7%
PGW
NZ$2.21
PGG Wrightson
7D
-5.6%
1Y
22.8%
SEK
NZ$4.43
Seeka
7D
-1.6%
1Y
66.5%
SML
NZ$0.70
Synlait Milk
7D
1.4%
1Y
79.5%
SCL
NZ$5.35
Scales
7D
0.4%
1Y
50.3%
NZK
NZ$0.21
New Zealand King Salmon Investments
7D
6.1%
1Y
-12.5%
ALF
NZ$0.76
Allied Farmers
7D
-1.3%
1Y
0%
TGG
NZ$1.98
T&G Global
7D
-2.9%
1Y
23.8%

We Think That There Are Issues Underlying T&G Global's (NZSE:TGG) Earnings

Aug 15
We Think That There Are Issues Underlying T&G Global's (NZSE:TGG) Earnings
LIC
NZ$0.98
Livestock Improvement
7D
3.2%
1Y
-2.0%