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New Zealand (NZX) Industrials Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies17
  • 7D1.3%
  • 3M5.7%
  • 1Y9.6%
  • YTD2.1%

Over the last 7 days, the Industrials industry has risen 1.3%, driven by gains from Auckland International Airport of 3.2%. This means that the industry has gained 9.6% over the past year. Earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Feb 2026NZ$38.4bNZ$24.5bNZ$880.9m24.7x43.6x1.6x
Mon, 26 Jan 2026NZ$37.9bNZ$24.3bNZ$738.7m25.5x51.4x1.6x
Wed, 24 Dec 2025NZ$37.4bNZ$24.3bNZ$738.7m25.5x50.6x1.5x
Fri, 21 Nov 2025NZ$36.2bNZ$24.3bNZ$730.3m24.8x49.5x1.5x
Sun, 19 Oct 2025NZ$35.7bNZ$24.3bNZ$747.9m24.9x47.7x1.5x
Tue, 16 Sep 2025NZ$34.9bNZ$24.3bNZ$747.9m24x46.7x1.4x
Thu, 14 Aug 2025NZ$33.1bNZ$24.5bNZ$544.3m21.3x60.9x1.4x
Sat, 12 Jul 2025NZ$33.7bNZ$24.5bNZ$545.1m21.4x61.8x1.4x
Mon, 09 Jun 2025NZ$34.6bNZ$24.5bNZ$549.0m23.2x63.1x1.4x
Wed, 07 May 2025NZ$33.3bNZ$24.2bNZ$451.0m19.8x73.9x1.4x
Fri, 04 Apr 2025NZ$34.2bNZ$24.2bNZ$451.1m19.4x75.8x1.4x
Sun, 02 Mar 2025NZ$35.8bNZ$24.2bNZ$451.1m21.6x79.4x1.5x
Tue, 28 Jan 2025NZ$35.8bNZ$24.4bNZ$464.7m22.3x77.1x1.5x
Thu, 26 Dec 2024NZ$35.5bNZ$24.4bNZ$464.7m22.6x76.3x1.5x
Sat, 23 Nov 2024NZ$33.5bNZ$24.4bNZ$463.6m24.3x72.3x1.4x
Mon, 21 Oct 2024NZ$33.1bNZ$24.2bNZ$474.2m21.8x69.9x1.4x
Wed, 18 Sep 2024NZ$30.3bNZ$24.2bNZ$478.4m21.6x63.3x1.2x
Fri, 16 Aug 2024NZ$31.5bNZ$24.8bNZ$998.1m21.5x31.6x1.3x
Sun, 14 Jul 2024NZ$41.6bNZ$28.0bNZ$1.9b19.4x22.5x1.5x
Tue, 11 Jun 2024NZ$38.5bNZ$28.0bNZ$1.9b19.4x20.8x1.4x
Thu, 09 May 2024NZ$39.2bNZ$27.4bNZ$2.6b18.9x15x1.4x
Sat, 06 Apr 2024NZ$41.4bNZ$27.4bNZ$2.6b21.1x15.8x1.5x
Mon, 04 Mar 2024NZ$40.9bNZ$27.5bNZ$2.6b21.4x15.7x1.5x
Wed, 31 Jan 2024NZ$43.1bNZ$26.8bNZ$2.8b19.4x15.3x1.6x
Fri, 29 Dec 2023NZ$42.3bNZ$26.7bNZ$2.8b19.6x15x1.6x
Sun, 26 Nov 2023NZ$40.9bNZ$26.7bNZ$2.8b19.2x14.5x1.5x
Tue, 24 Oct 2023NZ$39.8bNZ$26.9bNZ$1.8b18.6x22.6x1.5x
Thu, 21 Sep 2023NZ$41.2bNZ$26.8bNZ$1.8b18.3x23.4x1.5x
Sat, 19 Aug 2023NZ$42.1bNZ$24.6bNZ$1.3b19.1x33.1x1.7x
Mon, 17 Jul 2023NZ$35.5bNZ$23.0bNZ$1.1b19.5x33.1x1.5x
Wed, 14 Jun 2023NZ$35.1bNZ$23.0bNZ$1.1b18.3x32.7x1.5x
Fri, 12 May 2023NZ$35.5bNZ$23.3bNZ$1.1b16.6x32.2x1.5x
Sun, 09 Apr 2023NZ$35.0bNZ$23.3bNZ$1.1b17.5x31.9x1.5x
Tue, 07 Mar 2023NZ$35.6bNZ$23.3bNZ$1.1b17.9x32.4x1.5x
Price to Earnings Ratio

32.4x


Total Market Cap: NZ$35.6bTotal Earnings: NZ$1.1bTotal Revenue: NZ$23.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Industrials Sector Price to Earnings3Y Average 43.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the New Zealander Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 43.4x.
  • 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 7.1% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 Market1.05%
Industrials1.25%
Transportation13.92%
Electrical6.98%
Infrastructure2.92%
Machinery1.73%
Professional Services0.87%
Industrials0%0
Logistics-0.35%
Airlines-3.42%
Building-3.52%
Commercial Services-8.33%
Industry PE
  • Investors are most optimistic about the Infrastructure industry even though it's trading below its 3-year average PE ratio of 76.7x.
    • Analysts are expecting annual earnings growth of 3.6%, which is lower than the prior year's growth of 74.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Building industry, expecting annual earnings growth of 56% over the next 5 years.
  • In contrast, the Professional Services industry is expected to see its earnings decline by 88% 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
AIA Auckland International AirportNZ$9.163.2%
+NZ$474.6m		12.0%PE37.8x
POT Port of TaurangaNZ$8.052.3%
+NZ$122.4m		17.5%PE31.6x
THL Tourism HoldingsNZ$2.7213.3%
+NZ$70.8m		44.7%PS0.6x
FRW Freightways GroupNZ$14.350.9%
+NZ$23.3m		29.0%PE29.3x
SCT Scott TechnologyNZ$2.722.3%
+NZ$5.0m		34.0%PE15.9x

Latest News

AIR
NZ$0.56
Air New Zealand
7D
-3.5%
1Y
-11.2%
THL
NZ$2.72
Tourism Holdings
7D
13.3%
1Y
44.7%
FRW
NZ$14.35
Freightways Group
7D
0.9%
1Y
29.0%

FRW: Dividend Timeline And Refined Assumptions Will Support A Steady Outlook

Analysts have nudged their price target for Freightways Group higher to NZ$15.27 from NZ$14.79, reflecting updated assumptions for discount rates, revenue growth, profit margins and future P/E levels. What's in the News Freightways Group declared a cash dividend of NZ$0.24705882 per share for the six months ended December 31, 2025, giving investors clarity on the latest distribution per share (Key Developments).
SKL
NZ$5.81
Skellerup Holdings
7D
0.2%
1Y
14.4%
AIA
NZ$9.16
Auckland International Airport
7D
3.2%
1Y
12.0%
MFT
NZ$64.35
Mainfreight
7D
0.08%
1Y
-7.8%
FBU
NZ$3.51
Fletcher Building
7D
-0.6%
1Y
3.5%
SPN
NZ$9.01
South Port New Zealand
7D
-1.9%
1Y
52.7%
POT
NZ$8.05
Port of Tauranga
7D
2.3%
1Y
17.5%
WCO
NZ$0.011
WasteCo Group
7D
-8.3%
1Y
-50.0%

Does WasteCo Group (NZSE:WCO) Have A Healthy Balance Sheet?

Feb 04
Does WasteCo Group (NZSE:WCO) Have A Healthy Balance Sheet?
MPG
NZ$0.04
Metro Performance Glass
7D
5.3%
1Y
-23.1%
SCT
NZ$2.72
Scott Technology
7D
2.3%
1Y
34.0%