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New Zealand (NZX) Banks Industry Analysis

UpdatedAug 04, 2026
DataAggregated Company Financials
Companies1
  • 7D1.6%
  • 3M9.6%
  • 1Y56.3%
  • YTD6.4%

Over the last 7 days, the Banks industry has risen 2.5%, driven by gains from every company within the industry. In the last 12 months, the industry was up 56%. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 04 Aug 2026NZ$1.2bNZ$308.7mNZ$84.0m14.1x14.1x3.8x
Thu, 02 Jul 2026NZ$1.2bNZ$308.7mNZ$84.0m13.8x13.8x3.8x
Sat, 30 May 2026NZ$1.1bNZ$308.7mNZ$84.0m12.8x12.8x3.5x
Mon, 27 Apr 2026NZ$1.1bNZ$308.7mNZ$84.0m12.8x12.8x3.5x
Wed, 25 Mar 2026NZ$1.1bNZ$308.7mNZ$84.0m13.2x13.2x3.6x
Fri, 20 Feb 2026NZ$1.2bNZ$250.8mNZ$38.8m30.6x30.2x4.7x
Sun, 18 Jan 2026NZ$1.1bNZ$250.8mNZ$38.8m29.3x29.3x4.5x
Tue, 16 Dec 2025NZ$1.0bNZ$250.8mNZ$38.8m26.5x26.5x4.1x
Thu, 13 Nov 2025NZ$1.0bNZ$250.8mNZ$38.8m26.7x26.5x4.1x
Sat, 11 Oct 2025NZ$1.0bNZ$250.8mNZ$38.8m26.7x26.7x4.1x
Mon, 08 Sep 2025NZ$893.1mNZ$250.8mNZ$38.8m23x23x3.6x
Wed, 06 Aug 2025NZ$761.5mNZ$229.5mNZ$40.6m18.8x18.8x3.3x
Fri, 04 Jul 2025NZ$752.1mNZ$229.5mNZ$40.6m18.5x18.5x3.3x
Sun, 01 Jun 2025NZ$742.7mNZ$229.5mNZ$40.6m18.3x18.3x3.2x
Tue, 29 Apr 2025NZ$733.3mNZ$229.5mNZ$40.6m18.1x18.1x3.2x
Thu, 27 Mar 2025NZ$740.6mNZ$229.5mNZ$40.6m18.3x18.3x3.2x
Sat, 22 Feb 2025NZ$853.1mNZ$243.9mNZ$74.5m10.9x11.4x3.5x
Mon, 20 Jan 2025NZ$946.8mNZ$243.9mNZ$74.5m12.7x12.7x3.9x
Wed, 18 Dec 2024NZ$890.5mNZ$243.9mNZ$74.5m11.9x11.9x3.7x
Fri, 15 Nov 2024NZ$909.3mNZ$243.9mNZ$74.5m12.3x12.2x3.7x
Sun, 13 Oct 2024NZ$984.3mNZ$243.9mNZ$74.5m13.2x13.2x4x
Tue, 10 Sep 2024NZ$1.0bNZ$243.9mNZ$74.5m13.6x13.6x4.2x
Thu, 08 Aug 2024NZ$977.1mNZ$248.7mNZ$84.8m11.5x11.5x3.9x
Sat, 06 Jul 2024NZ$912.0mNZ$248.7mNZ$84.8m10.8x10.8x3.7x
Mon, 03 Jun 2024NZ$949.2mNZ$248.7mNZ$84.8m11.2x11.2x3.8x
Wed, 01 May 2024NZ$986.4mNZ$248.7mNZ$84.8m11.6x11.6x4x
Fri, 29 Mar 2024NZ$921.0mNZ$248.7mNZ$84.8m10.9x10.9x3.7x
Sun, 25 Feb 2024NZ$901.2mNZ$262.1mNZ$95.9m9.4x9.4x3.4x
Tue, 23 Jan 2024NZ$1.0bNZ$262.1mNZ$95.9m10.6x10.6x3.9x
Thu, 21 Dec 2023NZ$1.1bNZ$262.1mNZ$95.9m11x11.4x4.2x
Sat, 18 Nov 2023NZ$1.2bNZ$262.1mNZ$95.9m12.4x12.6x4.6x
Mon, 16 Oct 2023NZ$1.2bNZ$262.1mNZ$95.9m13x13x4.7x
Wed, 13 Sep 2023NZ$1.2bNZ$262.1mNZ$95.9m12.6x12.6x4.6x
Fri, 11 Aug 2023NZ$1.3bNZ$264.1mNZ$96.3m13.1x13.1x4.8x
Price to Earnings Ratio

13.1x


Total Market Cap: NZ$1.3bTotal Earnings: NZ$96.3mTotal Revenue: NZ$264.1mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Banks Industry Price to Earnings3Y Average 15.7x202420252026
Current Industry PE
    There is only one company in the New Zealander Banks industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Banks industry have declined 4.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.3% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the New Zealand Financials industry?

NZ Market-0.55%
Financials-3.77%
Banks1.63%
Diversified Banks1.63%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry even though it's trading below its 3-year average PE ratio of 15.7x.
    • Analysts are expecting annual earnings growth of 21.3%, which is lower than the prior year's growth of 107.2% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 15.7x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 21% over the next 5 years.
  • However this is lower than its past earnings growth rate of 107% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 21% 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
HGH Heartland Group HoldingsNZ$1.251.2%
+NZ$14.2m		53.7%PB0.9x

Latest News

HGH
NZ$1.25
Heartland Group Holdings
7D
1.2%
1Y
53.7%
Narrative Update • Jul 24

HGH: Updated Fair Value Highlights Sensitivity To Margins And P E Assumptions

Analysts have increased their fair value estimate for Heartland Group Holdings from NZ$0.85 to NZ$1.17, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples as the main factors behind the higher price target. Analyst Commentary on Heartland Group Holdings While the higher fair value estimate gives a more constructive anchor for Heartland Group Holdings, some of the detail behind analyst thinking points to risks that readers should keep in mind, particularly around the assumptions used for growth, margins and future valuation multiples.