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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies4
  • 7D-3.7%
  • 3M5.5%
  • 1Y12.1%
  • YTD2.1%

Over the last 7 days, the Infrastructure industry has dropped 3.7%, driven by a pullback from Auckland International Airport of 4.3%. This takes the industry's 12 month performance to a gain of 12%. As for the next few years, earnings are expected to grow by 3.6% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026NZ$20.8bNZ$1.7bNZ$640.7m26.3x32.5x12.3x
Sat, 07 Feb 2026NZ$20.6bNZ$1.6bNZ$638.3m27.8x32.3x12.6x
Mon, 05 Jan 2026NZ$20.3bNZ$1.6bNZ$638.3m27.2x31.8x12.4x
Wed, 03 Dec 2025NZ$19.8bNZ$1.6bNZ$638.3m26.5x31.1x12.1x
Fri, 31 Oct 2025NZ$19.9bNZ$1.6bNZ$641.8m25.2x31.1x12.2x
Sun, 28 Sep 2025NZ$18.8bNZ$1.6bNZ$641.8m23.9x29.3x11.5x
Tue, 26 Aug 2025NZ$18.5bNZ$1.6bNZ$572.2m24.3x32.3x11.5x
Thu, 24 Jul 2025NZ$18.5bNZ$1.6bNZ$218.7m33.4x84.6x11.9x
Sat, 21 Jun 2025NZ$19.0bNZ$1.6bNZ$222.6m44.6x85.4x12.1x
Mon, 19 May 2025NZ$19.0bNZ$1.6bNZ$216.7m43.3x87.4x12.1x
Wed, 16 Apr 2025NZ$18.5bNZ$1.6bNZ$216.7m40.3x85.4x11.8x
Fri, 14 Mar 2025NZ$18.9bNZ$1.6bNZ$216.7m43.1x87.3x12.1x
Sun, 09 Feb 2025NZ$19.9bNZ$1.5bNZ$133.0m30.9x149.7x13.4x
Tue, 07 Jan 2025NZ$19.5bNZ$1.5bNZ$133.0m30.8x146.3x13.1x
Thu, 05 Dec 2024NZ$18.6bNZ$1.5bNZ$133.0m31.6x139.6x12.5x
Sat, 02 Nov 2024NZ$16.9bNZ$1.5bNZ$131.0m32.3x129x11.5x
Mon, 30 Sep 2024NZ$17.3bNZ$1.5bNZ$131.0m31.3x132.1x11.7x
Wed, 28 Aug 2024NZ$15.8bNZ$1.5bNZ$131.0m31.4x120.8x10.7x
Fri, 26 Jul 2024NZ$15.8bNZ$1.3bNZ$298.3m22.2x52.9x11.7x
Sun, 23 Jun 2024NZ$15.4bNZ$1.3bNZ$298.3m22.1x51.5x11.4x
Tue, 21 May 2024NZ$15.1bNZ$1.3bNZ$292.7m28.3x51.7x11.3x
Thu, 18 Apr 2024NZ$16.1bNZ$1.3bNZ$292.7m27.6x54.8x12x
Sat, 16 Mar 2024NZ$16.6bNZ$1.3bNZ$292.7m28.5x56.7x12.4x
Mon, 12 Feb 2024NZ$16.9bNZ$1.2bNZ$196.6m29.2x85.9x14x
Wed, 10 Jan 2024NZ$17.0bNZ$1.2bNZ$196.6m28.9x86.4x14x
Fri, 08 Dec 2023NZ$16.6bNZ$1.2bNZ$196.6m27.8x84.4x13.7x
Sun, 05 Nov 2023NZ$15.7bNZ$1.2bNZ$197.3m25.2x79.8x13x
Tue, 03 Oct 2023NZ$16.3bNZ$1.2bNZ$197.3m27x82.4x13.4x
Thu, 31 Aug 2023NZ$16.6bNZ$1.2bNZ$197.3m25.8x83.9x13.7x
Sat, 29 Jul 2023NZ$17.3bNZ$1.0bNZ$250.6m24.3x68.9x16.6x
Mon, 26 Jun 2023NZ$17.6bNZ$1.0bNZ$250.6m23.8x70.2x16.9x
Wed, 24 May 2023NZ$18.3bNZ$1.0bNZ$250.9m23.5x72.9x17.8x
Fri, 21 Apr 2023NZ$17.9bNZ$1.0bNZ$250.9m25.9x71.2x17.4x
Sun, 19 Mar 2023NZ$18.2bNZ$1.0bNZ$250.9m26x72.7x17.8x
Price to Earnings Ratio

72.7x


Total Market Cap: NZ$18.2bTotal Earnings: NZ$250.9mTotal Revenue: NZ$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 76.2x202420252026
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 32.5x which is lower than its 3-year average PE of 76.2x.
  • The industry is trading close to its 3-year average PS ratio of 13.1x.
Past Earnings Growth
  • The earnings for companies in the Infrastructure industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 18% 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-1.86%
Industrials-3.77%
Infrastructure-3.72%
Marine Ports and Services-1.69%
Airport Services-4.59%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 509x.
    • Analysts are expecting annual earnings growth of 3.3%, which is lower than the prior year's growth of 453.8% per year.
  • Investors are most pessimistic about the Marine Ports and Services industry, which is trading below its 3-year average of 32.9x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 4.3% over the next 5 years.
  • In contrast, the Airport Services industry is expected to see its earnings grow by 3.3% 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
SPN South Port New ZealandNZ$9.010.6%
+NZ$1.3m		50.2%PE14.8x

Latest News

AIA
NZ$8.42
Auckland International Airport
7D
-4.3%
1Y
4.6%
POT
NZ$7.94
Port of Tauranga
7D
-3.6%
1Y
20.7%
NPH
NZ$3.64
Napier Port Holdings
7D
-1.6%
1Y
34.8%

NPH: Stable Trade Volumes And Steady Margins Will Support Fair Returns

Analysts have kept their NZ$3.72 price target for Napier Port Holdings unchanged, reflecting only very small tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions rather than a shift in their overall view of the stock. What's in the News Reported trade volume data for the first quarter ended 31 December 2025, giving investors fresh operational detail for the period (company announcement).
SPN
NZ$9.01
South Port New Zealand
7D
0.6%
1Y
50.2%