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New Zealand (NZX) Industrials Sector Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies16
  • 7D0.2%
  • 3M9.3%
  • 1Y10.3%
  • YTD0.9%

Over the last 7 days, the Industrials industry has remained flat. As for the the longer term, the industry is up 10% over the past 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026NZ$38.1bNZ$24.6bNZ$770.9m26.1x49.5x1.6x
Thu, 18 Jun 2026NZ$37.2bNZ$24.6bNZ$770.9m25.7x48.3x1.5x
Sat, 16 May 2026NZ$35.4bNZ$24.5bNZ$761.4m24x46.5x1.4x
Mon, 13 Apr 2026NZ$35.4bNZ$24.5bNZ$761.4m23.9x46.4x1.4x
Wed, 11 Mar 2026NZ$36.0bNZ$24.5bNZ$761.4m24.1x47.2x1.5x
Fri, 06 Feb 2026NZ$37.3bNZ$24.3bNZ$738.7m25x50.5x1.5x
Sun, 04 Jan 2026NZ$37.7bNZ$24.3bNZ$738.7m25.7x51x1.5x
Tue, 02 Dec 2025NZ$36.7bNZ$24.3bNZ$738.7m25.1x49.7x1.5x
Thu, 30 Oct 2025NZ$35.8bNZ$24.3bNZ$754.5m20.7x47.5x1.5x
Sat, 27 Sep 2025NZ$34.8bNZ$24.3bNZ$747.9m24.5x46.6x1.4x
Mon, 25 Aug 2025NZ$33.4bNZ$24.2bNZ$695.2m21.8x48.1x1.4x
Wed, 23 Jul 2025NZ$34.0bNZ$24.5bNZ$545.1m21.4x62.4x1.4x
Fri, 20 Jun 2025NZ$34.5bNZ$24.5bNZ$549.0m22.6x62.9x1.4x
Sun, 18 May 2025NZ$34.9bNZ$24.2bNZ$451.0m21x77.3x1.4x
Tue, 15 Apr 2025NZ$33.4bNZ$24.2bNZ$451.1m20.8x74x1.4x
Thu, 13 Mar 2025NZ$34.8bNZ$24.2bNZ$451.1m20.7x77.2x1.4x
Sat, 08 Feb 2025NZ$35.9bNZ$24.4bNZ$464.7m22.1x77.3x1.5x
Mon, 06 Jan 2025NZ$35.6bNZ$24.4bNZ$464.7m22.2x76.6x1.5x
Wed, 04 Dec 2024NZ$34.8bNZ$24.4bNZ$464.7m23.2x74.8x1.4x
Fri, 01 Nov 2024NZ$32.9bNZ$24.2bNZ$471.5m23.4x69.7x1.4x
Sun, 29 Sep 2024NZ$31.7bNZ$24.2bNZ$478.4m21.3x66.3x1.3x
Tue, 27 Aug 2024NZ$30.8bNZ$24.2bNZ$719.0m22x42.9x1.3x
Thu, 25 Jul 2024NZ$42.5bNZ$28.0bNZ$1.9b19.7x22.9x1.5x
Sat, 22 Jun 2024NZ$39.2bNZ$28.0bNZ$1.9b18.9x21.2x1.4x
Mon, 20 May 2024NZ$38.4bNZ$27.4bNZ$2.6b17.9x14.7x1.4x
Wed, 17 Apr 2024NZ$40.7bNZ$27.4bNZ$2.6b21x15.6x1.5x
Fri, 15 Mar 2024NZ$40.8bNZ$27.4bNZ$2.6b21x15.6x1.5x
Sun, 11 Feb 2024NZ$42.0bNZ$26.8bNZ$2.8b19x14.9x1.6x
Tue, 09 Jan 2024NZ$42.2bNZ$26.8bNZ$2.8b19.7x15x1.6x
Thu, 07 Dec 2023NZ$41.3bNZ$26.7bNZ$2.8b19.4x14.7x1.5x
Sat, 04 Nov 2023NZ$39.9bNZ$26.9bNZ$1.8b18.7x22.7x1.5x
Mon, 02 Oct 2023NZ$41.4bNZ$26.8bNZ$1.8b17.9x23.5x1.5x
Wed, 30 Aug 2023NZ$42.0bNZ$26.8bNZ$1.8b17.2x23.8x1.6x
Fri, 28 Jul 2023NZ$35.0bNZ$23.0bNZ$1.1b18.3x32.7x1.5x
Price to Earnings Ratio

32.7x


Total Market Cap: NZ$35.0bTotal Earnings: NZ$1.1bTotal Revenue: NZ$23.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Industrials Sector Price to Earnings3Y Average 45.4x202420252026
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 49.3x which is higher than its 3-year average PE of 45.4x.
  • 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 declined 10% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.2% 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 Industrials sector?

NZ Market-0.16%
Industrials0.18%
Building4.03%
Logistics2.16%
Machinery1.49%
Industrials0%0
Commercial Services0%0
Airlines0%0
Infrastructure-1.26%
Electrical-1.30%
Transportation-3.39%
Professional Services-5.20%
Industry PE
  • Investors are most optimistic about the Infrastructure industry even though it's trading below its 3-year average PE ratio of 71.6x.
    • Analysts are expecting annual earnings growth of 4.2%, which is lower than the prior year's growth of 67.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Transportation industry, expecting annual earnings growth of 66% over the next 5 years.
  • In contrast, the Professional Services industry is expected to see its earnings decline by 67% 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
MFT MainfreightNZ$63.502.6%
+NZ$161.1m		-5.2%PE25.5x
FBU Fletcher BuildingNZ$3.754.2%
+NZ$160.7m		23.0%PS0.6x
POT Port of TaurangaNZ$8.721.4%
+NZ$81.6m		23.9%PE32.3x
SKL Skellerup HoldingsNZ$6.733.2%
+NZ$41.2m		38.2%PE22.3x
FRW Freightways GroupNZ$14.021.2%
+NZ$30.4m		24.6%PE28.6x

Latest News

FRW
NZ$14.02
Freightways Group
7D
1.2%
1Y
24.6%
MOV
NZ$0.18
MOVE Logistics Group
7D
-12.0%
1Y
-7.4%
SKL
NZ$6.73
Skellerup Holdings
7D
3.2%
1Y
38.2%
AGL
NZ$0.16
Accordant Group
7D
8.0%
1Y
-37.7%
PYS
NZ$0.21
PaySauce
7D
-8.7%
1Y
9.9%
FBU
NZ$3.75
Fletcher Building
7D
4.2%
1Y
23.0%
SCT
NZ$2.52
Scott Technology
7D
-8.0%
1Y
27.3%
THL
NZ$2.85
Tourism Holdings
7D
-3.4%
1Y
37.0%
MFT
NZ$63.50
Mainfreight
7D
2.6%
1Y
-5.2%
AOF
NZ$0.076
AoFrio
7D
-1.3%
1Y
-17.4%
NPH
NZ$3.76
Napier Port Holdings
7D
0.3%
1Y
15.3%
Narrative Update • Jun 25

NPH: Container Volumes And Higher Dividend Will Support Steady Future Returns

Analysts have reaffirmed their NZ$3.74 price target for Napier Port Holdings, reflecting unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions in recent research. What's in the News Napier Port Holdings announced a fully imputed interim dividend of NZ$0.0525 per quoted equity security for the six months to 31 March 2026, compared with NZ$0.0400 per share interim and NZ$0.0250 per share special dividends for the prior period.
AIA
NZ$8.61
Auckland International Airport
7D
-2.4%
1Y
10.4%
New Narrative • Jun 24

Auckland International Airport (AIA) - Quality is not the question, price is.

Price NZ$8.18 (≈ A$7.50) · mkt cap ~NZ$13.9b · EV ~NZ$16.4b · as of late Apr 2026 · FY ends 30 June · NZD · prepared through the Franchise Blueprint (v3) Franchise Score 15 / 22 Rating - High-B Verdict WATCH Accumulate below ~NZ$5.75 (≈ A$5.30). A near-irreplaceable monopoly gateway — but capital-heavy, FCF-negative mid-build and priced at ~22–24× EBITDAFI, leaving a sub-hurdle owner's return and a negative margin of safety.
POT
NZ$8.72
Port of Tauranga
7D
1.4%
1Y
23.9%
Analysis Article • Jun 19

Port Of Tauranga (NZSE:POT) Stock Looks Fully Priced After Infrastructure Push

Infrastructure push reshapes the Port of Tauranga investment story Port of Tauranga (NZSE:POT) is in the spotlight as recent updates outline heavy infrastructure spending, automation projects, and sustainability initiatives designed to handle Upper North Island population and import growth, alongside Auckland capacity constraints. See our latest analysis for Port of Tauranga. Port of Tauranga’s share price has gained 7.01% over the past 90 days and 8.39% year to date to NZ$8.40. Its 1 year...
MPG
NZ$1.10
Metro Performance Glass
7D
-13.0%
1Y
-45.0%
SPN
NZ$8.38
South Port New Zealand
7D
-0.8%
1Y
15.3%