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New Zealand (NZX) Financials Sector Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies8
  • 7D-1.9%
  • 3M19.1%
  • 1Y29.9%
  • YTD25.6%

Over the last 7 days, the Financials industry has remained flat. As for the the longer term, the industry is up 31% over the past 12 months. Looking forward, earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026NZ$17.6bNZ$4.5bNZ$431.6m13.5x40.9x3.9x
Thu, 18 Jun 2026NZ$17.3bNZ$4.5bNZ$431.6m13.8x40.2x3.8x
Sat, 16 May 2026NZ$17.7bNZ$5.4bNZ$473.1m12x37.3x3.3x
Mon, 13 Apr 2026NZ$14.5bNZ$5.4bNZ$473.1m12.9x30.7x2.7x
Wed, 11 Mar 2026NZ$13.1bNZ$5.4bNZ$473.1m13.9x27.7x2.4x
Fri, 06 Feb 2026NZ$13.5bNZ$5.4bNZ$426.3m27.7x31.6x2.5x
Sun, 04 Jan 2026NZ$13.6bNZ$5.4bNZ$426.3m28.2x31.9x2.5x
Tue, 02 Dec 2025NZ$14.0bNZ$5.4bNZ$426.3m26.8x32.8x2.6x
Thu, 30 Oct 2025NZ$15.0bNZ$5.0b-NZ$138,642,436.0026.3x-108.3x3x
Sat, 27 Sep 2025NZ$14.5bNZ$5.0b-NZ$138,642,436.0024.4x-104.9x2.9x
Mon, 25 Aug 2025NZ$14.1bNZ$5.0b-NZ$138,642,436.0021.8x-101.6x2.8x
Wed, 23 Jul 2025NZ$13.6bNZ$5.0b-NZ$94,934,436.009.8x-143x2.7x
Fri, 20 Jun 2025NZ$12.7bNZ$5.0b-NZ$94,737,639.008.5x-134.3x2.6x
Sun, 18 May 2025NZ$13.5bNZ$4.7b-NZ$326,576,442.0019.6x-41.3x2.9x
Tue, 15 Apr 2025NZ$11.9bNZ$4.7b-NZ$326,576,442.0016.6x-36.5x2.5x
Thu, 13 Mar 2025NZ$12.1bNZ$4.7b-NZ$326,576,442.0018.5x-37.2x2.6x
Sat, 08 Feb 2025NZ$13.0bNZ$4.7b-NZ$294,114,442.0014.3x-44.2x2.7x
Mon, 06 Jan 2025NZ$14.3bNZ$4.7b-NZ$294,114,442.0012.6x-48.6x3x
Wed, 04 Dec 2024NZ$14.7bNZ$4.7b-NZ$294,114,442.0012.2x-49.9x3.1x
Fri, 01 Nov 2024NZ$14.9bNZ$4.2bNZ$1.0b14.3x14.4x3.5x
Sun, 29 Sep 2024NZ$14.4bNZ$4.2bNZ$1.0b14x14x3.4x
Tue, 27 Aug 2024NZ$13.2bNZ$4.2bNZ$1.0b12.5x12.7x3.1x
Thu, 25 Jul 2024NZ$2.4bNZ$1.0bNZ$188.4m11.6x12.7x2.4x
Sat, 22 Jun 2024NZ$2.3bNZ$1.1bNZ$189.4m10.8x12.1x2.2x
Mon, 20 May 2024NZ$2.3bNZ$964.7mNZ$158.1m12.9x14.7x2.4x
Wed, 17 Apr 2024NZ$2.2bNZ$964.7mNZ$158.1m11.3x14.2x2.3x
Fri, 15 Mar 2024NZ$2.1bNZ$964.7mNZ$158.1m11x13.6x2.2x
Sun, 11 Feb 2024NZ$2.1bNZ$951.6mNZ$147.6m12.9x14.4x2.2x
Tue, 09 Jan 2024NZ$3.8bNZ$1.3bNZ$184.4m18.7x20.8x3x
Thu, 07 Dec 2023NZ$3.9bNZ$1.3bNZ$184.4m18.2x21.1x3x
Sat, 04 Nov 2023NZ$3.9bNZ$1.3bNZ$191.3m18.8x20.6x3.1x
Mon, 02 Oct 2023NZ$4.1bNZ$1.3bNZ$191.3m19.1x21.5x3.3x
Wed, 30 Aug 2023NZ$4.1bNZ$1.3bNZ$191.3m21.6x21.4x3.3x
Fri, 28 Jul 2023NZ$4.0bNZ$1.2bNZ$168.5m27.4x23.9x3.3x
Price to Earnings Ratio

23.9x


Total Market Cap: NZ$4.0bTotal Earnings: NZ$168.5mTotal Revenue: NZ$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Financials Sector Price to Earnings3Y Average -11.4x202420252026
Current Industry PE
  • Investors are optimistic on the New Zealander Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 41.3x which is higher than its 3-year average PE of -11.4x.
  • The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 55% 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 Financials sector?

NZ Market-0.16%
Financials-1.91%
Insurance1.36%
Mortgage Finance0%0
Consumer Finance0%0
Capital Markets-0.098%
Banks-1.64%
Diversified Financial-2.14%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 14.7x.
    • Analysts are expecting annual earnings growth of 23.9%, which is higher than its past year's earnings decline of 2.9% per year.
  • Investors are most pessimistic about the Insurance industry, which is trading below its 3-year average of 28.4x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings decline of 2.9% per year.
  • In contrast, the Capital Markets industry is expected to see its earnings grow by 7.7% 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
TWR TowerNZ$1.871.4%
+NZ$8.6m		12.7%PE11.3x
NZX NZXNZ$1.500.3%
+NZ$1.6m		-4.2%PE22.9x

Latest News

NZX
NZ$1.50
NZX
7D
0.3%
1Y
-4.2%
IFT
NZ$15.14
Infratil
7D
-2.1%
1Y
32.0%
HGH
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Heartland Group Holdings
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-1.6%
1Y
51.9%
Narrative Update • Jul 10

HGH: Higher Margin Assumptions Will Support Stronger Earnings Conversion Outlook

The analyst price target for Heartland Group Holdings has been revised to NZ$1.40 from NZ$1.15, with analysts pointing to adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E to support the change. Analyst Commentary Recent price target changes for Heartland Group Holdings reflect a more constructive tone from bullish analysts, who are reassessing valuation assumptions around discount rates, revenue growth, profit margins and future P/E multiples.
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