There's Reason For Concern Over Freightways Group Limited's (NZSE:FRW) Price
Apr 24
New Zealand (NZX) Industrials Sector Analysis
UpdatedApr 26, 2024
DataAggregated Company Financials
Companies19
- 7D-0.8%
- 3M-5.8%
- 1Y-7.9%
- YTD-5.3%
The Industrials is pretty flat in the last 7 days, but Port of Tauranga has stood out, gaining 3.5%. As for the longer term, the industry has declined 7.9% in the last year. Earnings are forecast to grow by 5.0% annually.
Sector Valuation and Performance
Has the New Zealand Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 26 Apr 2024 | NZ$40.2b | NZ$27.4b | NZ$2.6b | 20.8x | 15.4x | 1.5x |
| Sun, 24 Mar 2024 | NZ$40.9b | NZ$27.4b | NZ$2.6b | 19.5x | 15.7x | 1.5x |
| Tue, 20 Feb 2024 | NZ$40.7b | NZ$26.8b | NZ$2.6b | 20.4x | 15.6x | 1.5x |
| Thu, 18 Jan 2024 | NZ$42.9b | NZ$26.8b | NZ$2.8b | 19.5x | 15.2x | 1.6x |
| Sat, 16 Dec 2023 | NZ$41.7b | NZ$26.7b | NZ$2.8b | 19.6x | 14.8x | 1.6x |
| Mon, 13 Nov 2023 | NZ$40.1b | NZ$26.2b | NZ$1.7b | 19x | 24.1x | 1.5x |
| Wed, 11 Oct 2023 | NZ$41.1b | NZ$26.8b | NZ$1.8b | 17.5x | 23.3x | 1.5x |
| Fri, 08 Sep 2023 | NZ$41.9b | NZ$26.8b | NZ$1.8b | 17.2x | 23.8x | 1.6x |
| Sun, 06 Aug 2023 | NZ$43.1b | NZ$24.9b | NZ$1.4b | 19.2x | 31.1x | 1.7x |
| Tue, 04 Jul 2023 | NZ$35.3b | NZ$23.0b | NZ$1.1b | 18.4x | 32.9x | 1.5x |
| Thu, 01 Jun 2023 | NZ$35.7b | NZ$23.0b | NZ$1.1b | 19x | 33.2x | 1.5x |
| Sat, 29 Apr 2023 | NZ$35.6b | NZ$23.3b | NZ$1.1b | 17.3x | 32.3x | 1.5x |
| Mon, 27 Mar 2023 | NZ$34.9b | NZ$23.3b | NZ$1.1b | 17.8x | 31.8x | 1.5x |
| Wed, 22 Feb 2023 | NZ$35.8b | NZ$21.0b | NZ$685.1m | 17.9x | 52.2x | 1.7x |
| Fri, 20 Jan 2023 | NZ$35.7b | NZ$20.7b | NZ$763.6m | 17.7x | 46.8x | 1.7x |
| Sun, 18 Dec 2022 | NZ$35.0b | NZ$20.7b | NZ$763.6m | 17.6x | 45.8x | 1.7x |
| Tue, 15 Nov 2022 | NZ$34.6b | NZ$20.7b | NZ$763.7m | 19.9x | 45.3x | 1.7x |
| Thu, 13 Oct 2022 | NZ$32.4b | NZ$19.9b | NZ$673.8m | 19.8x | 48.2x | 1.6x |
| Sat, 10 Sep 2022 | NZ$34.8b | NZ$19.9b | NZ$673.8m | 22.1x | 51.7x | 1.7x |
| Mon, 08 Aug 2022 | NZ$35.1b | NZ$19.2b | NZ$1.0b | 21.7x | 33.9x | 1.8x |
| Wed, 06 Jul 2022 | NZ$32.9b | NZ$19.2b | NZ$1.0b | 20.5x | 31.8x | 1.7x |
| Fri, 03 Jun 2022 | NZ$34.7b | NZ$19.2b | NZ$1.0b | 22x | 33.5x | 1.8x |
| Sun, 01 May 2022 | NZ$35.3b | NZ$18.2b | NZ$931.0m | 25x | 37.9x | 1.9x |
| Tue, 29 Mar 2022 | NZ$35.7b | NZ$18.1b | NZ$931.1m | 25.1x | 38.3x | 2x |
| Thu, 24 Feb 2022 | NZ$34.9b | NZ$18.2b | NZ$1.0b | 15.6x | 33.6x | 1.9x |
| Sat, 22 Jan 2022 | NZ$37.0b | NZ$18.1b | NZ$968.1m | 18.6x | 38.2x | 2x |
| Mon, 20 Dec 2021 | NZ$37.8b | NZ$18.1b | NZ$968.1m | 28.8x | 39.1x | 2.1x |
| Wed, 17 Nov 2021 | NZ$39.3b | NZ$18.1b | NZ$974.2m | 18.6x | 40.3x | 2.2x |
| Fri, 15 Oct 2021 | NZ$38.2b | NZ$17.4b | NZ$910.0m | 29x | 41.9x | 2.2x |
| Sun, 12 Sep 2021 | NZ$38.0b | NZ$17.4b | NZ$910.0m | 26.4x | 41.7x | 2.2x |
| Tue, 10 Aug 2021 | NZ$37.2b | NZ$17.5b | NZ$905.1m | 26.4x | 41.1x | 2.1x |
| Mon, 03 May 2021 | NZ$36.2b | NZ$17.3b | NZ$307.4m | 35.2x | 117.8x | 2.1x |
Price to Earnings Ratio
117.8x
Current Industry PE
- Investors are pessimistic on the New Zealander Industrials 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 15.4x which is lower than its 3-year average PE of 38.8x.
- The 3-year average PS ratio of 1.8x is higher than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have grown 104% per year over the last three years.
- Revenues for these companies have grown 17% 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 Industrials sector?
| NZ Market | 0.66% | |
| Industrials | -0.81% | |
| Electrical | 13.46% | |
| Machinery | 2.03% | |
| Logistics | 0.28% | |
| Professional Services | 0.11% | |
| Aerospace & Defense | 0% | |
| Construction | 0% | |
| Trade Distributors | 0% | |
| Marine and Shipping | 0% | |
| Transportation | 0% | |
| Industrials | -0.37% | |
| Building | -1.03% | |
| Infrastructure | -1.30% | |
| Airlines | -5.13% | |
| Commercial Services | -8.51% | |
Industry PE
- Investors are most optimistic about the Building industry which is trading above its 3-year average PE ratio of 92.9x.
- Analysts are expecting annual earnings growth of 49.9%, which is higher than its past year's earnings decline of 93.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Building industry, expecting annual earnings growth of 50% over the next 5 years.
- This is better than its past earnings decline of 93% per year.
- In contrast, the Industrials industry is expected to see its earnings decline by 36% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| POT Port of Tauranga | NZ$5.09 | 3.5% +NZ$115.6m | -19.3% | PE34.1x | |
| SKL Skellerup Holdings | NZ$4.47 | 3.5% +NZ$29.4m | -8.4% | PE17.7x | |
| MFT Mainfreight | NZ$69.69 | 0.3% +NZ$19.1m | -2.8% | PE21x | |
| NPH Napier Port Holdings | NZ$2.38 | 1.3% +NZ$6.0m | -5.2% | PE28.6x | |
| MMH Marsden Maritime Holdings | NZ$4.16 | 2.7% +NZ$4.5m | -18.4% | PE22.1x |
