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New Zealand (NZX) Industrials Sector Analysis

UpdatedDec 07, 2025
DataAggregated Company Financials
Companies17
  • 7D1.3%
  • 3M6.4%
  • 1Y7.0%
  • YTD3.9%

The Industrials industry is up 1.3% in the last week, with Fletcher Building up 8.7%. This means that the industry has gained 7.0% over the past year. 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
Sun, 07 Dec 2025NZ$37.0bNZ$24.3bNZ$738.7m25.1x50x1.5x
Tue, 04 Nov 2025NZ$36.2bNZ$24.3bNZ$754.5m21.2x47.9x1.5x
Thu, 02 Oct 2025NZ$35.8bNZ$24.3bNZ$747.9m23.9x47.8x1.5x
Sat, 30 Aug 2025NZ$33.6bNZ$24.3bNZ$647.6m21.6x51.8x1.4x
Mon, 28 Jul 2025NZ$34.1bNZ$24.5bNZ$545.1m20.8x62.5x1.4x
Wed, 25 Jun 2025NZ$33.9bNZ$24.5bNZ$549.0m22.5x61.8x1.4x
Fri, 23 May 2025NZ$34.4bNZ$24.2bNZ$456.0m23x75.4x1.4x
Sun, 20 Apr 2025NZ$33.0bNZ$24.2bNZ$451.0m19.8x73.1x1.4x
Tue, 18 Mar 2025NZ$34.5bNZ$24.2bNZ$451.1m20.3x76.5x1.4x
Thu, 13 Feb 2025NZ$36.1bNZ$24.4bNZ$464.7m22.3x77.6x1.5x
Sat, 11 Jan 2025NZ$35.3bNZ$24.4bNZ$464.7m22.3x75.9x1.4x
Mon, 09 Dec 2024NZ$34.6bNZ$24.4bNZ$464.7m21.8x74.4x1.4x
Wed, 06 Nov 2024NZ$32.7bNZ$24.2bNZ$471.5m23.8x69.4x1.4x
Fri, 04 Oct 2024NZ$31.9bNZ$24.2bNZ$478.4m21.9x66.7x1.3x
Sun, 01 Sep 2024NZ$30.8bNZ$24.2bNZ$660.4m22.2x46.6x1.3x
Tue, 30 Jul 2024NZ$41.2bNZ$28.0bNZ$1.9b20x22.2x1.5x
Thu, 27 Jun 2024NZ$39.9bNZ$28.0bNZ$1.9b18.9x21.5x1.4x
Sat, 25 May 2024NZ$38.7bNZ$28.3bNZ$2.0b19x19.4x1.4x
Mon, 22 Apr 2024NZ$40.1bNZ$27.4bNZ$2.6b21.2x15.4x1.5x
Wed, 20 Mar 2024NZ$41.0bNZ$27.4bNZ$2.6b21.2x15.7x1.5x
Fri, 16 Feb 2024NZ$40.8bNZ$26.8bNZ$2.8b18.3x14.5x1.5x
Sun, 14 Jan 2024NZ$43.1bNZ$26.8bNZ$2.8b19.3x15.3x1.6x
Tue, 12 Dec 2023NZ$41.3bNZ$26.7bNZ$2.8b19.3x14.7x1.5x
Thu, 09 Nov 2023NZ$39.8bNZ$26.9bNZ$1.8b18.9x22.6x1.5x
Sat, 07 Oct 2023NZ$41.0bNZ$26.8bNZ$1.8b18.5x23.3x1.5x
Mon, 04 Sep 2023NZ$42.1bNZ$26.8bNZ$1.8b16.5x23.9x1.6x
Wed, 02 Aug 2023NZ$34.9bNZ$23.0bNZ$1.1b18.2x32.5x1.5x
Fri, 30 Jun 2023NZ$35.2bNZ$23.0bNZ$1.1b18.2x32.8x1.5x
Sun, 28 May 2023NZ$35.5bNZ$23.0bNZ$1.1b17.1x32.6x1.5x
Tue, 25 Apr 2023NZ$35.8bNZ$23.3bNZ$1.1b17.2x32.4x1.5x
Thu, 23 Mar 2023NZ$34.9bNZ$23.3bNZ$1.1b17.8x31.8x1.5x
Sat, 18 Feb 2023NZ$36.5bNZ$20.9bNZ$683.6m17.9x53.4x1.7x
Mon, 16 Jan 2023NZ$34.9bNZ$20.7bNZ$763.6m17.6x45.7x1.7x
Wed, 14 Dec 2022NZ$34.5bNZ$20.7bNZ$763.6m17.7x45.2x1.7x
Price to Earnings Ratio

45.2x


Total Market Cap: NZ$34.5bTotal Earnings: NZ$763.6mTotal Revenue: NZ$20.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Industrials Sector Price to Earnings3Y Average 43.2x202320242025
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 50.0x which is higher than its 3-year average PE of 43.2x.
  • 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 Market-0.34%
Industrials1.34%
Professional Services12.70%
Building8.60%
Electrical4.21%
Transportation1.57%
Infrastructure0.91%
Logistics0.27%
Industrials0%0
Airlines-0.84%
Machinery-1.91%
Commercial Services-5.88%
Industry PE
  • Investors are most optimistic about the Infrastructure industry even though it's trading below its 3-year average PE ratio of 78.1x.
    • Analysts are expecting annual earnings growth of 2.5%, 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 86% 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$3.648.7%
+NZ$310.5m		24.7%PS0.6x
AIA Auckland International AirportNZ$8.060.7%
+NZ$101.7m		-0.7%PE32.5x
POT Port of TaurangaNZ$7.691.5%
+NZ$74.8m		22.5%PE30.2x
FRW Freightways GroupNZ$14.050.7%
+NZ$17.9m		35.9%PE31.5x
THL Tourism HoldingsNZ$2.591.6%
+NZ$8.8m		35.6%PS0.6x

Latest News

POT
NZ$7.69
Port of Tauranga
7D
1.5%
1Y
22.5%

Here's What To Make Of Port of Tauranga's (NZSE:POT) Decelerating Rates Of Return

Dec 05
Here's What To Make Of Port of Tauranga's (NZSE:POT) Decelerating Rates Of Return
NPH
NZ$3.62
Napier Port Holdings
7D
1.1%
1Y
44.8%

NPH: Higher Dividends And Mixed Cargo Trends Will Support Steady Outlook

Analysts have lifted their price target on Napier Port Holdings modestly from $3.64 to $3.72, reflecting slightly higher fair value assessments even as they temper assumptions for long term revenue growth, profit margins, and future earnings multiples. What's in the News Napier Port Holdings declared a fully imputed final 2025 dividend of $16 million, or $0.08 per share, payable on 16 December to shareholders on the register as at 3 December (company announcement).
THL
NZ$2.59
Tourism Holdings
7D
1.6%
1Y
35.6%
WCO
NZ$0.016
WasteCo Group
7D
-5.9%
1Y
-23.8%
FRW
NZ$14.05
Freightways Group
7D
0.7%
1Y
35.9%

FRW: Dividend Payment And Forecast Adjustments Will Shape Near-Term Outlook

Freightways Group’s analyst price target has been modestly increased from $13.20 to $13.53 per share, as analysts cite a slight improvement in forward fair value assumptions. This reflects minor positive adjustments to long-term growth and profitability expectations.
AIA
NZ$8.06
Auckland International Airport
7D
0.7%
1Y
-0.7%

We Think Auckland International Airport (NZSE:AIA) Can Stay On Top Of Its Debt

Nov 24
We Think Auckland International Airport (NZSE:AIA) Can Stay On Top Of Its Debt
AIR
NZ$0.59
Air New Zealand
7D
-0.8%
1Y
6.3%

AIR: Upcoming Dividend And Electric Aircraft Progress Will Influence Recovery Path

Air New Zealand's analyst price target remains steady at $0.66. Analysts cite consistent revenue growth expectations and a slightly lower discount rate as supporting factors for maintaining their valuation outlook.
FBU
NZ$3.64
Fletcher Building
7D
8.7%
1Y
24.7%
PYS
NZ$0.29
PaySauce
7D
15.7%
1Y
34.1%
SCT
NZ$2.96
Scott Technology
7D
3.5%
1Y
41.0%
SPN
NZ$8.20
South Port New Zealand
7D
-2.8%
1Y
54.7%

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
SKL
NZ$5.25
Skellerup Holdings
7D
-3.1%
1Y
1.9%