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New Zealand (NZX) Financials Sector Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies7
  • 7D1.4%
  • 3M-5.4%
  • 1Y-6.6%
  • YTD-5.0%

The Financials industry has been flat over the last week, but General Capital has lost 6.5%. Unfortunately though, the industry is down 7.7% over the past 12 months. As for the next few years, earnings are forecast to decline by 4.5% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025NZ$13.6bNZ$5.4bNZ$426.3m27.7x31.9x2.5x
Fri, 21 Nov 2025NZ$13.9bNZ$5.4bNZ$431.6m26.9x32.2x2.6x
Sun, 19 Oct 2025NZ$14.8bNZ$5.0b-NZ$138,642,436.0026.3x-107.1x3x
Tue, 16 Sep 2025NZ$14.6bNZ$5.0b-NZ$138,642,436.0023.5x-105.3x2.9x
Thu, 14 Aug 2025NZ$13.9bNZ$5.0b-NZ$94,934,436.009.2x-146x2.8x
Sat, 12 Jul 2025NZ$13.0bNZ$5.0b-NZ$94,934,436.009.8x-137.3x2.6x
Mon, 09 Jun 2025NZ$12.3bNZ$5.0b-NZ$94,737,639.008x-130.1x2.5x
Wed, 07 May 2025NZ$13.4bNZ$4.7b-NZ$326,576,442.0018.1x-41x2.8x
Fri, 04 Apr 2025NZ$11.8bNZ$4.7b-NZ$326,576,442.0017.3x-36.1x2.5x
Sun, 02 Mar 2025NZ$12.8bNZ$4.7b-NZ$326,576,442.0019.6x-39.2x2.7x
Tue, 28 Jan 2025NZ$13.6bNZ$4.7b-NZ$294,114,442.0013x-46.2x2.9x
Thu, 26 Dec 2024NZ$14.5bNZ$4.7b-NZ$294,114,442.0012.4x-49.3x3.1x
Sat, 23 Nov 2024NZ$14.4bNZ$4.6b-NZ$330,052,839.0013.3x-43.7x3.1x
Mon, 21 Oct 2024NZ$14.3bNZ$4.2bNZ$1.0b13.8x13.8x3.4x
Wed, 18 Sep 2024NZ$14.3bNZ$4.2bNZ$1.0b13.5x13.9x3.4x
Fri, 16 Aug 2024NZ$12.9bNZ$4.3bNZ$1.0b12.3x12.4x3x
Sun, 14 Jul 2024NZ$2.3bNZ$1.1bNZ$190.1m10.8x12.2x2.1x
Tue, 11 Jun 2024NZ$2.3bNZ$1.0bNZ$190.5m10.9x12x2.2x
Thu, 09 May 2024NZ$2.4bNZ$964.7mNZ$158.1m12.2x15x2.5x
Sat, 06 Apr 2024NZ$2.2bNZ$964.7mNZ$158.1m11.8x14x2.3x
Mon, 04 Mar 2024NZ$2.1bNZ$964.7mNZ$158.1m12.9x13.1x2.2x
Wed, 31 Jan 2024NZ$3.8bNZ$1.3bNZ$184.4m18.4x20.7x3x
Fri, 29 Dec 2023NZ$3.8bNZ$1.3bNZ$184.4m19.1x20.7x3x
Sun, 26 Nov 2023NZ$4.0bNZ$1.3bNZ$191.3m18.8x20.9x3.2x
Tue, 24 Oct 2023NZ$4.0bNZ$1.3bNZ$191.3m18.3x20.7x3.1x
Thu, 21 Sep 2023NZ$4.1bNZ$1.3bNZ$191.3m20.8x21.4x3.3x
Sat, 19 Aug 2023NZ$3.9bNZ$1.2bNZ$168.5m26.9x23x3.2x
Mon, 17 Jul 2023NZ$4.0bNZ$1.2bNZ$168.5m28.3x23.8x3.3x
Wed, 14 Jun 2023NZ$3.9bNZ$1.2bNZ$168.3m25.5x23x3.2x
Fri, 12 May 2023NZ$3.7bNZ$1.2bNZ$177.3m12.5x20.9x3.2x
Sun, 09 Apr 2023NZ$3.7bNZ$1.2bNZ$177.6m13.9x20.6x3.1x
Tue, 07 Mar 2023NZ$1.9bNZ$772.8mNZ$135.0m13.1x14.3x2.5x
Thu, 02 Feb 2023NZ$2.0bNZ$758.5mNZ$134.4m13.4x14.6x2.6x
Sat, 31 Dec 2022NZ$2.0bNZ$758.5mNZ$134.4m13.3x14.7x2.6x
Price to Earnings Ratio

14.7x


Total Market Cap: NZ$2.0bTotal Earnings: NZ$134.4mTotal Revenue: NZ$758.5mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Financials Sector Price to Earnings3Y Average -14.3x202320242025
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 31.9x which is higher than its 3-year average PE of -14.3x.
  • The 3-year average PS ratio of 2.8x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 47% per year over the last three years.
  • Revenues for these companies have grown 92% 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 Market0.74%
Financials1.38%
Banks3.20%
Capital Markets2.02%
Insurance1.78%
Diversified Financial1.14%
Mortgage Finance0%0
Consumer Finance0%0
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings decline of 7.8%, which is less than its past year's earnings decline of 25.1%.
  • Investors are most pessimistic about the Insurance industry, which is trading below its 3-year average of 30.1x.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 48% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 7.8% 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
IFT InfratilNZ$11.313.8%
+NZ$408.8m		-10.5%PE39.8x
HGH Heartland Group HoldingsNZ$1.142.7%
+NZ$28.3m		15.2%PB0.9x
NZX NZXNZ$1.543.7%
+NZ$18.1m		5.5%PE27.7x
TWR TowerNZ$2.000.5%
+NZ$3.4m		35.0%PE8.2x

Latest News

IFT
NZ$11.31
Infratil
7D
3.8%
1Y
-10.5%

IFT: Higher Dividend And Data Centre Expansion Will Support Future Upside

Analysts have nudged their price target for Infratil slightly higher to reflect modest improvements in discount rate assumptions and long term profitability expectations, while leaving their fair value estimate effectively unchanged at $13.72. What's in the News Infratil Limited declared a higher cash dividend of NZD 0.08044118 per ordinary share for the six months ended September 30, 2025, with a record date of November 27 and payment on December 16, 2025 (company announcement).
TWR
NZ$2.00
Tower
7D
0.5%
1Y
35.0%
BAI
NZ$0.044
Being AI
7D
-2.2%
1Y
-85.3%
GEN
NZ$0.29
General Capital
7D
-4.9%
1Y
26.1%
RTO
NZ$0.17
RTO
7D
-1.8%
1Y
-8.8%
HGH
NZ$1.14
Heartland Group Holdings
7D
2.7%
1Y
15.2%
NZX
NZ$1.54
NZX
7D
3.7%
1Y
5.5%