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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies4
  • 7D0.6%
  • 3M9.5%
  • 1Y11.0%
  • YTD3.9%

Over the last 7 days, the Infrastructure industry has remained flat. The past year has been better, since the industry has gained 6.4% in that time. As for the next few years, earnings are expected to grow by 2.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026NZ$21.1bNZ$1.6bNZ$641.0m27.6x32.9x12.8x
Sun, 18 Jan 2026NZ$20.7bNZ$1.6bNZ$638.3m28.3x32.4x12.6x
Tue, 16 Dec 2025NZ$19.9bNZ$1.6bNZ$638.3m26.7x31.2x12.1x
Thu, 13 Nov 2025NZ$19.6bNZ$1.6bNZ$641.8m24.7x30.6x12x
Sat, 11 Oct 2025NZ$20.0bNZ$1.6bNZ$641.8m25.5x31.2x12.2x
Mon, 08 Sep 2025NZ$18.8bNZ$1.6bNZ$641.8m23.8x29.2x11.5x
Wed, 06 Aug 2025NZ$18.5bNZ$1.6bNZ$218.7m33.2x84.4x11.8x
Fri, 04 Jul 2025NZ$18.7bNZ$1.6bNZ$218.7m33.9x85.5x12x
Sun, 01 Jun 2025NZ$18.2bNZ$1.6bNZ$222.6m42.9x81.7x11.6x
Tue, 29 Apr 2025NZ$18.6bNZ$1.6bNZ$216.7m40x85.7x11.9x
Thu, 27 Mar 2025NZ$18.7bNZ$1.6bNZ$216.7m43.6x86.5x12x
Sat, 22 Feb 2025NZ$19.1bNZ$1.5bNZ$204.4m30x93.4x12.4x
Mon, 20 Jan 2025NZ$19.7bNZ$1.5bNZ$133.0m30x148x13.3x
Wed, 18 Dec 2024NZ$18.7bNZ$1.5bNZ$133.0m31.4x140.9x12.6x
Fri, 15 Nov 2024NZ$17.0bNZ$1.5bNZ$131.0m32.3x129.8x11.5x
Sun, 13 Oct 2024NZ$17.2bNZ$1.5bNZ$131.0m33.3x131x11.6x
Tue, 10 Sep 2024NZ$15.7bNZ$1.5bNZ$131.0m30.8x120.1x10.7x
Thu, 08 Aug 2024NZ$15.6bNZ$1.3bNZ$298.3m20.9x52.2x11.6x
Sat, 06 Jul 2024NZ$15.7bNZ$1.3bNZ$298.3m21.5x52.5x11.6x
Mon, 03 Jun 2024NZ$15.7bNZ$1.3bNZ$292.7m30.7x53.8x11.8x
Wed, 01 May 2024NZ$15.7bNZ$1.3bNZ$292.7m27.7x53.7x11.7x
Fri, 29 Mar 2024NZ$16.8bNZ$1.3bNZ$292.7m29.5x57.4x12.6x
Sun, 25 Feb 2024NZ$16.5bNZ$1.3bNZ$292.7m29.2x56.3x12.3x
Tue, 23 Jan 2024NZ$17.1bNZ$1.2bNZ$196.6m29.7x87x14.1x
Thu, 21 Dec 2023NZ$17.0bNZ$1.2bNZ$196.6m28.9x86.4x14.1x
Sat, 18 Nov 2023NZ$16.0bNZ$1.2bNZ$196.6m27.7x81.6x13.3x
Mon, 16 Oct 2023NZ$16.3bNZ$1.2bNZ$197.3m25.8x82.6x13.5x
Wed, 13 Sep 2023NZ$16.5bNZ$1.2bNZ$197.3m26.4x83.7x13.6x
Fri, 11 Aug 2023NZ$17.2bNZ$1.0bNZ$250.6m23.3x68.8x16.6x
Sun, 09 Jul 2023NZ$17.5bNZ$1.0bNZ$250.6m23.6x69.8x16.9x
Tue, 06 Jun 2023NZ$18.1bNZ$1.0bNZ$250.6m25.3x72.2x17.4x
Thu, 04 May 2023NZ$17.9bNZ$1.0bNZ$250.9m24.2x71.5x17.5x
Sat, 01 Apr 2023NZ$18.0bNZ$1.0bNZ$250.9m25.9x71.8x17.6x
Mon, 27 Feb 2023NZ$18.1bNZ$1.0bNZ$250.9m25.4x72.3x17.7x
Price to Earnings Ratio

72.3x


Total Market Cap: NZ$18.1bTotal Earnings: NZ$250.9mTotal Revenue: NZ$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 76.9x202420252026
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 32.0x which is lower than its 3-year average PE of 76.9x.
  • The industry is trading close to its 3-year average PS ratio of 13.2x.
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 17% 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-0.67%
Industrials0.22%
Infrastructure0.61%
Airport Services1.39%
Marine Ports and Services-1.19%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 511x.
    • Analysts are expecting annual earnings growth of 1.2%, 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 33.0x.
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 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$8.885.5%
+NZ$779.8m		9.6%PE36.7x
NPH Napier Port HoldingsNZ$3.793.0%
+NZ$22.0m		38.3%PE24.5x

Latest News

AIA
NZ$8.88
Auckland International Airport
7D
5.5%
1Y
9.6%
SPN
NZ$9.19
South Port New Zealand
7D
-0.1%
1Y
55.8%
POT
NZ$7.87
Port of Tauranga
7D
-0.4%
1Y
17.5%
NPH
NZ$3.79
Napier Port Holdings
7D
3.0%
1Y
38.3%

NPH: Stable Trade Volumes And Rising Fully Imputed Dividends Will Support Returns

Analysts have maintained their fair value estimate for Napier Port Holdings at $3.72 per share, with only minor adjustments to inputs such as the discount rate and the assumed future P/E multiple influencing the latest price target update. What's in the News Reported first quarter 2026 trade volume data, with total container volumes at 45,000 TEU compared with 44,000 TEU a year earlier, including a 1.4% change in underlying cargo laden container volumes and a 1.8% change in empty and other container movements (company announcement).