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New Zealand (NZX) Industrials Sector Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies17
  • 7D0.7%
  • 3M7.8%
  • 1Y8.9%
  • YTD1.2%

Over the last 7 days, the Industrials industry has remained flat, although notably Fletcher Building gained 7.0%. The past year has been better, since the industry has gained 9.8% in that time. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025NZ$36.1bNZ$24.3bNZ$754.5m20.9x47.9x1.5x
Sat, 04 Oct 2025NZ$36.0bNZ$24.3bNZ$747.9m23.5x48.1x1.5x
Mon, 01 Sep 2025NZ$33.6bNZ$24.3bNZ$747.9m21.6x44.9x1.4x
Wed, 30 Jul 2025NZ$34.1bNZ$24.5bNZ$545.1m21.2x62.5x1.4x
Fri, 27 Jun 2025NZ$33.7bNZ$24.5bNZ$549.0m22.7x61.4x1.4x
Sun, 25 May 2025NZ$34.5bNZ$24.2bNZ$456.0m23x75.6x1.4x
Tue, 22 Apr 2025NZ$33.0bNZ$24.2bNZ$451.0m19.8x73.1x1.4x
Thu, 20 Mar 2025NZ$34.1bNZ$24.2bNZ$451.1m20.7x75.6x1.4x
Sat, 15 Feb 2025NZ$36.0bNZ$24.4bNZ$467.2m21.9x77x1.5x
Mon, 13 Jan 2025NZ$35.2bNZ$24.4bNZ$464.7m22.3x75.7x1.4x
Wed, 11 Dec 2024NZ$34.8bNZ$24.4bNZ$464.7m21.7x74.9x1.4x
Fri, 08 Nov 2024NZ$33.1bNZ$24.2bNZ$471.5m24.4x70.2x1.4x
Sun, 06 Oct 2024NZ$31.8bNZ$24.2bNZ$478.4m22x66.5x1.3x
Tue, 03 Sep 2024NZ$30.6bNZ$24.3bNZ$478.4m22.6x64.1x1.3x
Thu, 01 Aug 2024NZ$41.3bNZ$28.0bNZ$1.9b19.9x22.3x1.5x
Sat, 29 Jun 2024NZ$39.4bNZ$28.0bNZ$1.9b18.9x21.3x1.4x
Mon, 27 May 2024NZ$38.7bNZ$28.3bNZ$2.0b19x19.4x1.4x
Wed, 24 Apr 2024NZ$40.0bNZ$27.4bNZ$2.6b21x15.4x1.5x
Fri, 22 Mar 2024NZ$41.0bNZ$27.4bNZ$2.6b19.6x15.7x1.5x
Sun, 18 Feb 2024NZ$40.9bNZ$26.8bNZ$2.6b20x15.7x1.5x
Tue, 16 Jan 2024NZ$42.8bNZ$26.8bNZ$2.8b19.3x15.2x1.6x
Thu, 14 Dec 2023NZ$41.2bNZ$26.7bNZ$2.8b18.9x14.6x1.5x
Sat, 11 Nov 2023NZ$40.2bNZ$26.9bNZ$1.8b18.6x22.8x1.5x
Mon, 09 Oct 2023NZ$41.0bNZ$26.8bNZ$1.8b18.5x23.3x1.5x
Wed, 06 Sep 2023NZ$42.1bNZ$26.8bNZ$1.8b17x23.9x1.6x
Fri, 04 Aug 2023NZ$43.0bNZ$24.9bNZ$1.4b19.1x31x1.7x
Sun, 02 Jul 2023NZ$35.6bNZ$23.0bNZ$1.1b18.9x33.1x1.5x
Tue, 30 May 2023NZ$35.7bNZ$23.0bNZ$1.1b17.1x33.2x1.6x
Thu, 27 Apr 2023NZ$35.7bNZ$23.3bNZ$1.1b17.2x32.4x1.5x
Sat, 25 Mar 2023NZ$34.9bNZ$23.3bNZ$1.1b17.8x31.8x1.5x
Mon, 20 Feb 2023NZ$36.3bNZ$20.9bNZ$683.6m17.9x53.1x1.7x
Wed, 18 Jan 2023NZ$35.4bNZ$20.7bNZ$763.6m17.6x46.3x1.7x
Fri, 16 Dec 2022NZ$34.7bNZ$20.7bNZ$763.6m17.6x45.5x1.7x
Sun, 13 Nov 2022NZ$34.7bNZ$20.7bNZ$763.7m19.8x45.5x1.7x
Price to Earnings Ratio

45.5x


Total Market Cap: NZ$34.7bTotal Earnings: NZ$763.7mTotal Revenue: NZ$20.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Industrials Sector Price to Earnings3Y Average 43.1x202320242025
Current Industry PE
  • Investors are optimistic on the New Zealander Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 47.9x which is higher than its 3-year average PE of 43.1x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 5.6% 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 and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the New Zealand Industrials sector?

NZ Market1.21%
Industrials0.68%
Professional Services11.93%
Building6.78%
Airlines1.67%
Logistics1.18%
Machinery0.54%
Transportation0.40%
Industrials0%0
Commercial Services0%0
Infrastructure-0.66%
Electrical-3.96%
Industry PE
  • Investors are most optimistic about the Infrastructure industry even though it's trading below its 3-year average PE ratio of 78.6x.
    • Analysts are expecting annual earnings growth of 2.2%, which is lower than the prior year's growth of 85.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Transportation industry, expecting annual earnings growth of 63% over the next 5 years.
  • In contrast, the Professional Services industry is expected to see its earnings decline by 75% 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
FBU Fletcher BuildingNZ$3.509.0%
+NZ$310.5m		9.4%PS0.5x
AIA Auckland International AirportNZ$8.120.5%
+NZ$67.8m		10.2%PE32.7x
AIR Air New ZealandNZ$0.602.5%
+NZ$48.0m		14.2%PE15.6x
PYS PaySauceNZ$0.3436.0%
+NZ$13.0m		47.8%PE72x
NPH Napier Port HoldingsNZ$3.430.9%
+NZ$6.0m		56.6%PE19.9x

Latest News

FBU
NZ$3.50
Fletcher Building
7D
9.0%
1Y
9.4%

Fletcher Building (NZSE:FBU) Is Looking To Continue Growing Its Returns On Capital

Nov 04
Fletcher Building (NZSE:FBU) Is Looking To Continue Growing Its Returns On Capital
AIA
NZ$8.12
Auckland International Airport
7D
0.5%
1Y
10.2%

Returns On Capital At Auckland International Airport (NZSE:AIA) Have Stalled

Nov 03
Returns On Capital At Auckland International Airport (NZSE:AIA) Have Stalled
FRW
NZ$14.23
Freightways Group
7D
-0.5%
1Y
38.4%

If EPS Growth Is Important To You, Freightways Group (NZSE:FRW) Presents An Opportunity

Nov 01
If EPS Growth Is Important To You, Freightways Group (NZSE:FRW) Presents An Opportunity
SPN
NZ$9.11
South Port New Zealand
7D
-1.1%
1Y
66.8%

South Port New Zealand (NZSE:SPN) Will Pay A Larger Dividend Than Last Year At NZ$0.2412

Oct 29
South Port New Zealand (NZSE:SPN) Will Pay A Larger Dividend Than Last Year At NZ$0.2412
SCT
NZ$3.04
Scott Technology
7D
-1.6%
1Y
38.2%
MFT
NZ$59.60
Mainfreight
7D
-1.1%
1Y
-16.1%
NPH
NZ$3.43
Napier Port Holdings
7D
0.9%
1Y
56.6%
AIR
NZ$0.60
Air New Zealand
7D
2.5%
1Y
14.2%

Analysts Adjust Air New Zealand Valuation as Revenue Projections and Margins Soften

Analysts have lowered their fair value estimate for Air New Zealand from $0.69 to $0.67 per share. They cite slightly softer revenue growth projections and reduced profit margins as key factors behind the adjustment.
AOF
NZ$0.097
AoFrio
7D
-4.9%
1Y
-13.4%

AoFrio Limited (NZSE:AOF) Stock Catapults 26% Though Its Price And Business Still Lag The Industry

Oct 14
AoFrio Limited (NZSE:AOF) Stock Catapults 26% Though Its Price And Business Still Lag The Industry
PYS
NZ$0.34
PaySauce
7D
36.0%
1Y
47.8%
POT
NZ$7.54
Port of Tauranga
7D
-3.7%
1Y
27.4%

Here's Why We Think Port of Tauranga (NZSE:POT) Is Well Worth Watching

Oct 01
Here's Why We Think Port of Tauranga (NZSE:POT) Is Well Worth Watching
MPG
NZ$0.042
Metro Performance Glass
7D
-6.7%
1Y
-32.3%
SKL
NZ$5.35
Skellerup Holdings
7D
-2.2%
1Y
12.6%
THL
NZ$2.54
Tourism Holdings
7D
0.8%
1Y
30.3%
MOV
NZ$0.22
MOVE Logistics Group
7D
10.0%
1Y
22.2%
AGL
NZ$0.29
Accordant Group
7D
7.4%
1Y
-46.3%