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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedDec 13, 2025
DataAggregated Company Financials
Companies4
  • 7D-0.003%
  • 3M3.4%
  • 1Y4.4%
  • YTD2.0%

In the last week, Infrastructure has been flat. The past year has been better, since the industry has gained 4.8% in that time. Looking forward, earnings are forecast to grow by 2.5% annually.

Industry Valuation and Performance

Has the New Zealand Infrastructure Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Dec 2025NZ$19.8bNZ$1.6bNZ$638.3m26.6x31x12.1x
Mon, 10 Nov 2025NZ$19.7bNZ$1.6bNZ$641.8m24.8x30.8x12.1x
Wed, 08 Oct 2025NZ$19.7bNZ$1.6bNZ$641.8m25.2x30.8x12.1x
Fri, 05 Sep 2025NZ$18.7bNZ$1.6bNZ$641.8m23.7x29.1x11.4x
Sun, 03 Aug 2025NZ$18.2bNZ$1.6bNZ$218.7m33.2x83.4x11.7x
Tue, 01 Jul 2025NZ$18.6bNZ$1.6bNZ$218.7m32.9x84.9x11.9x
Thu, 29 May 2025NZ$18.3bNZ$1.6bNZ$222.6m43.6x82.4x11.7x
Sat, 26 Apr 2025NZ$18.7bNZ$1.6bNZ$216.7m41x86.1x11.9x
Mon, 24 Mar 2025NZ$18.4bNZ$1.6bNZ$216.7m42.3x84.8x11.8x
Wed, 19 Feb 2025NZ$19.7bNZ$1.5bNZ$135.8m30.5x145.4x13.3x
Fri, 17 Jan 2025NZ$19.7bNZ$1.5bNZ$133.0m30.3x147.7x13.2x
Sun, 15 Dec 2024NZ$19.0bNZ$1.5bNZ$133.0m32.1x143x12.8x
Tue, 12 Nov 2024NZ$17.1bNZ$1.5bNZ$131.0m32.8x130.9x11.6x
Thu, 10 Oct 2024NZ$17.1bNZ$1.5bNZ$131.0m32.4x130.5x11.6x
Sat, 07 Sep 2024NZ$15.7bNZ$1.5bNZ$131.0m30.9x119.7x10.6x
Mon, 05 Aug 2024NZ$15.7bNZ$1.3bNZ$298.3m22.4x52.8x11.7x
Wed, 03 Jul 2024NZ$15.5bNZ$1.3bNZ$298.3m21.5x52.1x11.5x
Fri, 31 May 2024NZ$15.2bNZ$1.3bNZ$292.7m30.7x52x11.4x
Sun, 28 Apr 2024NZ$15.7bNZ$1.3bNZ$292.7m28.6x53.7x11.7x
Tue, 26 Mar 2024NZ$16.4bNZ$1.3bNZ$292.7m27x56x12.2x
Thu, 22 Feb 2024NZ$16.3bNZ$1.2bNZ$194.4m29.2x84.1x13.5x
Sat, 20 Jan 2024NZ$17.1bNZ$1.2bNZ$196.6m29.6x87.1x14.2x
Mon, 18 Dec 2023NZ$17.0bNZ$1.2bNZ$196.6m30.6x86.5x14.1x
Wed, 15 Nov 2023NZ$16.0bNZ$1.2bNZ$197.3m28x81x13.2x
Fri, 13 Oct 2023NZ$16.4bNZ$1.2bNZ$197.3m25.6x83.2x13.6x
Sun, 10 Sep 2023NZ$16.4bNZ$1.2bNZ$197.3m26.1x82.9x13.5x
Tue, 08 Aug 2023NZ$17.3bNZ$1.0bNZ$250.6m23.8x68.9x16.6x
Thu, 06 Jul 2023NZ$17.6bNZ$1.0bNZ$250.6m24x70x16.9x
Sat, 03 Jun 2023NZ$18.1bNZ$1.0bNZ$250.6m25.3x72.2x17.4x
Mon, 01 May 2023NZ$18.2bNZ$1.0bNZ$250.9m24.5x72.7x17.8x
Wed, 29 Mar 2023NZ$18.2bNZ$1.0bNZ$250.9m25.1x72.4x17.7x
Fri, 24 Feb 2023NZ$18.2bNZ$839.9mNZ$348.6m26.1x52.2x21.7x
Sun, 22 Jan 2023NZ$17.8bNZ$838.3mNZ$349.3m28x50.8x21.2x
Tue, 20 Dec 2022NZ$17.3bNZ$838.3mNZ$349.3m28.3x49.6x20.7x
Price to Earnings Ratio

49.6x


Total Market Cap: NZ$17.3bTotal Earnings: NZ$349.3mTotal Revenue: NZ$838.3mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 78x202320242025
Current Industry PE
  • Investors are pessimistic on the New Zealander Infrastructure 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 30.8x which is lower than its 3-year average PE of 78.0x.
  • The 3-year average PS ratio of 13.7x is higher than the industry's current PS ratio of 12.0x.
Past Earnings Growth
  • The earnings for companies in the Infrastructure industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 25% 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 industry?

NZ Market-0.62%
Industrials-0.015%
Infrastructure-0.0032%
Airport Services0.50%
Marine Ports and Services-1.11%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 513x.
    • Analysts are expecting annual earnings growth of 1.8%, which is lower than the prior year's growth of 7,549.1% per year.
  • Investors are most pessimistic about the Marine Ports and Services industry, which is trading below its 3-year average of 33.3x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 4.0% over the next 5 years.
  • In contrast, the Airport Services industry is expected to see its earnings growth to stay flat 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$8.100.5%
+NZ$67.8m		-1.2%PE32.6x
NPH Napier Port HoldingsNZ$3.640.6%
+NZ$4.0m		48.0%PE23.5x
SPN South Port New ZealandNZ$8.301.2%
+NZ$2.6m		48.5%PE16.4x

Latest News

POT
NZ$7.58
Port of Tauranga
7D
-1.4%
1Y
15.7%

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$3.64
Napier Port Holdings
7D
0.6%
1Y
48.0%

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).
AIA
NZ$8.10
Auckland International Airport
7D
0.5%
1Y
-1.2%

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
SPN
NZ$8.30
South Port New Zealand
7D
1.2%
1Y
48.5%

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