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New Zealand (NZX) Financials Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies7
  • 7D3.3%
  • 3M-1.8%
  • 1Y5.9%
  • YTD-1.6%

The Financials industry is up 3.3% in the last week, with Infratil up 2.1%. This means that the industry has gained 5.9% over the past year. In the next few years, earnings are forecast to decline by 7.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026NZ$13.8bNZ$5.4bNZ$473.1m14.4x29.1x2.5x
Wed, 28 Jan 2026NZ$13.3bNZ$5.4bNZ$426.3m28.4x31.3x2.5x
Fri, 26 Dec 2025NZ$13.8bNZ$5.4bNZ$426.3m27.7x32.3x2.6x
Sun, 23 Nov 2025NZ$13.9bNZ$5.4bNZ$431.6m27x32.3x2.6x
Tue, 21 Oct 2025NZ$14.8bNZ$5.0b-NZ$138,642,436.0026.1x-107.1x3x
Thu, 18 Sep 2025NZ$14.7bNZ$5.0b-NZ$138,642,436.0023.3x-106.2x3x
Sat, 16 Aug 2025NZ$14.0bNZ$5.0b-NZ$94,934,436.009.2x-147.9x2.8x
Mon, 14 Jul 2025NZ$13.0bNZ$5.0b-NZ$94,934,436.0010x-136.8x2.6x
Wed, 11 Jun 2025NZ$12.2bNZ$5.0b-NZ$94,737,639.008.6x-128.5x2.5x
Fri, 09 May 2025NZ$13.1bNZ$4.7b-NZ$326,576,442.0017.8x-40.1x2.8x
Sun, 06 Apr 2025NZ$11.5bNZ$4.7b-NZ$326,576,442.0017.3x-35.3x2.4x
Tue, 04 Mar 2025NZ$12.5bNZ$4.7b-NZ$326,576,442.0019.9x-38.1x2.6x
Thu, 30 Jan 2025NZ$13.0bNZ$4.7b-NZ$294,114,442.0013.2x-44.2x2.8x
Sat, 28 Dec 2024NZ$14.5bNZ$4.7b-NZ$294,114,442.0012.4x-49.3x3.1x
Mon, 25 Nov 2024NZ$14.7bNZ$4.6b-NZ$329,683,403.0013.3x-44.5x3.2x
Wed, 23 Oct 2024NZ$14.7bNZ$4.2bNZ$1.0b14.3x14.2x3.5x
Fri, 20 Sep 2024NZ$14.4bNZ$4.2bNZ$1.0b13.3x14x3.4x
Sun, 18 Aug 2024NZ$13.0bNZ$4.3bNZ$1.0b12.3x12.5x3.1x
Tue, 16 Jul 2024NZ$2.3bNZ$1.1bNZ$190.1m10.9x12.3x2.2x
Thu, 13 Jun 2024NZ$2.3bNZ$1.1bNZ$189.4m10.8x12.3x2.2x
Sat, 11 May 2024NZ$2.4bNZ$964.7mNZ$158.1m12.6x15x2.5x
Mon, 08 Apr 2024NZ$2.2bNZ$964.7mNZ$158.1m11.8x14x2.3x
Wed, 06 Mar 2024NZ$2.1bNZ$964.7mNZ$158.1m12.6x13.1x2.1x
Fri, 02 Feb 2024NZ$3.8bNZ$1.3bNZ$184.4m18.4x20.7x3x
Sun, 31 Dec 2023NZ$3.9bNZ$1.3bNZ$184.4m18.8x21x3x
Tue, 28 Nov 2023NZ$4.0bNZ$1.3bNZ$185.8m18.9x21.4x3.1x
Thu, 26 Oct 2023NZ$3.9bNZ$1.3bNZ$191.3m18x20.3x3.1x
Sat, 23 Sep 2023NZ$4.1bNZ$1.3bNZ$191.3m20.1x21.6x3.3x
Mon, 21 Aug 2023NZ$3.9bNZ$1.2bNZ$168.5m26.9x23x3.2x
Wed, 19 Jul 2023NZ$4.0bNZ$1.2bNZ$168.5m27.8x23.8x3.3x
Fri, 16 Jun 2023NZ$3.9bNZ$1.2bNZ$168.3m25.5x22.9x3.1x
Sun, 14 May 2023NZ$3.7bNZ$1.2bNZ$177.9m12.9x20.7x3.1x
Tue, 11 Apr 2023NZ$3.7bNZ$1.2bNZ$177.6m13.9x20.6x3.1x
Thu, 09 Mar 2023NZ$1.9bNZ$772.8mNZ$135.0m12.7x14.1x2.5x
Price to Earnings Ratio

14.1x


Total Market Cap: NZ$1.9bTotal Earnings: NZ$135.0mTotal Revenue: NZ$772.8mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Financials Sector Price to Earnings3Y Average -13.3x202420252026
Current Industry PE
  • Investors are pessimistic on the New Zealander Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 29.1x which is higher than its 3-year average PE of -13.3x.
  • 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 52% 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 Market2.56%
Financials3.33%
Banks4.47%
Diversified Financial3.50%
Capital Markets1.07%
Insurance0.82%
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 13.6x.
    • Analysts are expecting annual earnings decline of 11.1%, 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 29.6x.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 107% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline 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
IFT InfratilNZ$11.242.1%
+NZ$229.8m		6.8%PE39.7x
HGH Heartland Group HoldingsNZ$1.280.8%
+NZ$9.4m		48.8%PB0.9x
NZX NZXNZ$1.431.4%
+NZ$6.6m		-10.6%PE21.9x

Latest News

HGH
NZ$1.28
Heartland Group Holdings
7D
0.8%
1Y
48.8%
NZX
NZ$1.43
NZX
7D
1.4%
1Y
-10.6%
MLN
NZ$0.88
Marlin Global
7D
-4.3%
1Y
-8.3%
IFT
NZ$11.24
Infratil
7D
2.1%
1Y
6.8%

IFT: Stable Fair Value And Slight Assumption Shifts Will Support Upside

Analysts are maintaining their NZ$14.02 price target on Infratil, making only small adjustments to assumptions for the discount rate, revenue growth, profit margin, and future P/E ratio while keeping their view of fair value unchanged. Valuation Changes Fair Value: The analysts' NZ$14.02 fair value estimate is unchanged, with no revision to the headline valuation level.
BAI
NZ$0.03
Being AI
7D
-6.3%
1Y
n/a
RTO
NZ$0.16
RTO
7D
-1.8%
1Y
16.7%