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

New Zealand (NZX) Financials Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies7
  • 7D1.8%
  • 3M7.3%
  • 1Y17.5%
  • YTD5.3%

The Financials industry is up 1.8% in the last week, with Infratil up 1.9%. During this same period, the General Capital underperformed, falling 5.1%. This means that the industry has gained 18% over the past year. In the next few years, earnings are forecast to decline by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026NZ$14.8bNZ$5.4bNZ$473.1m13x31.2x2.7x
Thu, 19 Mar 2026NZ$13.6bNZ$5.4bNZ$473.1m14x28.7x2.5x
Sat, 14 Feb 2026NZ$13.8bNZ$5.4bNZ$426.3m27.7x32.4x2.6x
Mon, 12 Jan 2026NZ$13.8bNZ$5.4bNZ$426.3m28.2x32.4x2.6x
Wed, 10 Dec 2025NZ$14.2bNZ$5.4bNZ$426.3m27.3x33.3x2.6x
Fri, 07 Nov 2025NZ$14.8bNZ$4.9b-NZ$137,919,436.0026.8x-107.2x3x
Sun, 05 Oct 2025NZ$15.1bNZ$5.0b-NZ$138,642,436.0025.5x-108.8x3x
Tue, 02 Sep 2025NZ$13.7bNZ$5.0b-NZ$138,642,436.0022x-98.8x2.8x
Thu, 31 Jul 2025NZ$14.1bNZ$5.0b-NZ$94,934,436.008.5x-148.6x2.8x
Sat, 28 Jun 2025NZ$12.7bNZ$5.0b-NZ$94,737,639.008.8x-134x2.6x
Mon, 26 May 2025NZ$13.1bNZ$4.7b-NZ$309,252,442.0018.1x-42.2x2.7x
Wed, 23 Apr 2025NZ$11.9bNZ$4.7b-NZ$326,576,442.0017.6x-36.4x2.5x
Fri, 21 Mar 2025NZ$12.1bNZ$4.7b-NZ$326,576,442.0018x-37x2.6x
Sun, 16 Feb 2025NZ$13.2bNZ$4.7b-NZ$294,114,442.0013.6x-44.9x2.8x
Tue, 14 Jan 2025NZ$13.8bNZ$4.7b-NZ$294,114,442.0012.6x-46.9x2.9x
Thu, 12 Dec 2024NZ$13.9bNZ$4.7b-NZ$294,114,442.0012.1x-47.3x2.9x
Sat, 09 Nov 2024NZ$14.5bNZ$4.2bNZ$1.0b14.1x14.1x3.4x
Mon, 07 Oct 2024NZ$14.3bNZ$4.2bNZ$1.0b13.8x13.9x3.4x
Wed, 04 Sep 2024NZ$13.3bNZ$4.2bNZ$1.0b12.7x12.9x3.1x
Fri, 02 Aug 2024NZ$2.4bNZ$1.0bNZ$188.4m12.2x12.8x2.4x
Sun, 30 Jun 2024NZ$2.3bNZ$1.1bNZ$189.7m10.9x12.2x2.2x
Tue, 28 May 2024NZ$2.3bNZ$964.7mNZ$158.1m11.4x14.8x2.4x
Thu, 25 Apr 2024NZ$2.3bNZ$964.7mNZ$158.1m11.1x14.6x2.4x
Sat, 23 Mar 2024NZ$2.0bNZ$964.7mNZ$158.1m9.8x12.6x2.1x
Mon, 19 Feb 2024NZ$2.1bNZ$951.6mNZ$147.6m12.9x14.3x2.2x
Wed, 17 Jan 2024NZ$3.8bNZ$1.3bNZ$184.4m18.9x20.8x3x
Fri, 15 Dec 2023NZ$3.9bNZ$1.3bNZ$184.4m18.8x21.2x3x
Sun, 12 Nov 2023NZ$3.9bNZ$1.3bNZ$191.3m18.9x20.4x3.1x
Tue, 10 Oct 2023NZ$4.1bNZ$1.3bNZ$191.3m18.8x21.2x3.2x
Thu, 07 Sep 2023NZ$4.1bNZ$1.3bNZ$191.3m21.3x21.4x3.2x
Sat, 05 Aug 2023NZ$4.0bNZ$1.2bNZ$168.5m27.1x23.4x3.2x
Mon, 03 Jul 2023NZ$3.9bNZ$1.2bNZ$168.5m26.5x23.3x3.2x
Wed, 31 May 2023NZ$3.8bNZ$1.2bNZ$177.5m12.9x21.2x3.2x
Fri, 28 Apr 2023NZ$3.7bNZ$1.2bNZ$178.2m13.5x21x3.2x
Price to Earnings Ratio

21x


Total Market Cap: NZ$3.7bTotal Earnings: NZ$178.2mTotal Revenue: NZ$1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Financials Sector Price to Earnings3Y Average -12.7x202420252026
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 31.2x which is higher than its 3-year average PE of -12.7x.
  • The industry is trading close to its 3-year average PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 38% per year over the last three years.
  • Revenues for these companies have grown 66% 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-0.30%
Financials1.84%
Capital Markets2.11%
Diversified Financial1.89%
Insurance1.54%
Banks1.32%
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 14.0x.
    • Analysts are expecting annual earnings decline of 14.2%, 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 29.4x.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 13% 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 14% 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$12.301.9%
+NZ$229.8m		15.7%PE43.4x
NZX NZXNZ$1.423.3%
+NZ$14.8m		-5.3%PE21.8x
HGH Heartland Group HoldingsNZ$1.161.3%
+NZ$14.2m		50.0%PB0.8x
TWR TowerNZ$1.981.5%
+NZ$10.3m		43.1%PE8.1x

Latest News

IFT
NZ$12.30
Infratil
7D
1.9%
1Y
15.7%

IFT: Revised Cash Flow Assumptions Will Support Confidence In Future Earnings Quality

Analysts have increased their Infratil fair value estimate from NZ$14.00 to NZ$14.06, reflecting updated assumptions around discount rates, revenue contraction, profit margins, and future P/E multiples following recent Street research. Analyst Commentary Bullish Takeaways Bullish analysts see the revised fair value of NZ$14.06 as broadly aligned with their updated models, suggesting that recent work on discount rates and P/E assumptions still supports the current valuation framework.
TWR
NZ$1.98
Tower
7D
1.5%
1Y
43.1%
RTO
NZ$0.15
RTO
7D
-0.7%
1Y
-12.5%
HGH
NZ$1.16
Heartland Group Holdings
7D
1.3%
1Y
50.0%
NZX
NZ$1.42
NZX
7D
3.3%
1Y
-5.3%
MLN
NZ$0.85
Marlin Global
7D
-0.6%
1Y
-6.6%
GEN
NZ$0.28
General Capital
7D
-5.1%
1Y
16.7%