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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedJul 26, 2026
DataAggregated Company Financials
Companies4
  • 7D-0.3%
  • 3M4.4%
  • 1Y14.3%
  • YTD4.3%

In the last week, Infrastructure has been flat. The past year has been better, since the industry has gained 15% in that time. Earnings are forecast to grow by 4.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Jul 2026NZ$21.3bNZ$1.7bNZ$638.5m28.7x33.4x12.5x
Tue, 23 Jun 2026NZ$21.2bNZ$1.7bNZ$638.5m28.7x33.2x12.5x
Thu, 21 May 2026NZ$20.0bNZ$1.7bNZ$640.7m26.9x31.2x11.8x
Sat, 18 Apr 2026NZ$20.3bNZ$1.7bNZ$640.7m26.2x31.6x12x
Mon, 16 Mar 2026NZ$20.6bNZ$1.7bNZ$640.7m26.1x32.1x12.1x
Wed, 11 Feb 2026NZ$20.8bNZ$1.6bNZ$638.3m27.6x32.5x12.7x
Fri, 09 Jan 2026NZ$20.6bNZ$1.6bNZ$638.3m27.6x32.2x12.6x
Sun, 07 Dec 2025NZ$19.8bNZ$1.6bNZ$638.3m26.8x31.1x12.1x
Tue, 04 Nov 2025NZ$19.9bNZ$1.6bNZ$641.8m25x31.1x12.2x
Thu, 02 Oct 2025NZ$19.3bNZ$1.6bNZ$641.8m24.3x30.1x11.8x
Sat, 30 Aug 2025NZ$18.3bNZ$1.6bNZ$572.2m23.9x32.1x11.4x
Mon, 28 Jul 2025NZ$18.5bNZ$1.6bNZ$218.7m33.4x84.8x11.9x
Wed, 25 Jun 2025NZ$18.6bNZ$1.6bNZ$222.6m44.4x83.5x11.8x
Fri, 23 May 2025NZ$18.7bNZ$1.6bNZ$222.6m43.9x84.2x11.9x
Sun, 20 Apr 2025NZ$18.5bNZ$1.6bNZ$216.7m40x85.2x11.8x
Tue, 18 Mar 2025NZ$18.6bNZ$1.6bNZ$216.7m42.5x86x11.9x
Thu, 13 Feb 2025NZ$20.0bNZ$1.5bNZ$133.0m30.8x150x13.5x
Sat, 11 Jan 2025NZ$19.3bNZ$1.5bNZ$133.0m30x145x13x
Mon, 09 Dec 2024NZ$18.7bNZ$1.5bNZ$133.0m31.4x140.6x12.6x
Wed, 06 Nov 2024NZ$17.1bNZ$1.5bNZ$131.0m32.1x130.4x11.6x
Fri, 04 Oct 2024NZ$17.2bNZ$1.5bNZ$131.0m32.8x131.3x11.7x
Sun, 01 Sep 2024NZ$15.7bNZ$1.5bNZ$131.0m31.4x120x10.7x
Tue, 30 Jul 2024NZ$15.7bNZ$1.3bNZ$298.3m22.2x52.6x11.7x
Thu, 27 Jun 2024NZ$15.7bNZ$1.3bNZ$298.3m21.9x52.6x11.7x
Sat, 25 May 2024NZ$15.6bNZ$1.3bNZ$292.7m30.3x53.3x11.7x
Mon, 22 Apr 2024NZ$15.8bNZ$1.3bNZ$292.7m28.3x53.8x11.8x
Wed, 20 Mar 2024NZ$16.5bNZ$1.3bNZ$292.7m28.2x56.2x12.3x
Fri, 16 Feb 2024NZ$16.5bNZ$1.2bNZ$196.6m29.2x84.1x13.7x
Sun, 14 Jan 2024NZ$17.6bNZ$1.2bNZ$196.6m30.6x89.3x14.5x
Tue, 12 Dec 2023NZ$16.7bNZ$1.2bNZ$196.6m29.5x85.1x13.8x
Thu, 09 Nov 2023NZ$15.8bNZ$1.2bNZ$197.3m25.9x80.1x13.1x
Sat, 07 Oct 2023NZ$16.4bNZ$1.2bNZ$197.3m26.1x83.1x13.5x
Mon, 04 Sep 2023NZ$16.7bNZ$1.2bNZ$197.3m25.9x84.7x13.8x
Wed, 02 Aug 2023NZ$17.4bNZ$1.0bNZ$250.6m23.8x69.3x16.7x
Price to Earnings Ratio

69.3x


Total Market Cap: NZ$17.4bTotal Earnings: NZ$250.6mTotal Revenue: NZ$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 71.4x202420252026
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 33.5x which is lower than its 3-year average PE of 71.5x.
  • The industry is trading close to its 3-year average PS ratio of 12.5x.
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 Market0.52%
Industrials0.043%
Infrastructure-0.29%
Airport Services0.94%
Marine Ports and Services-2.87%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 496x.
    • Analysts are expecting annual earnings growth of 3.6%, 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 close to its 3-year average of 32.5x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 5.6% over the next 5 years.
  • In contrast, the Airport Services industry is expected to see its earnings grow by 3.6% 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$8.580.9%
+NZ$136.0m		11.9%PE35.5x
NPH Napier Port HoldingsNZ$3.750.8%
+NZ$6.0m		17.2%PE26x

Latest News

NPH
NZ$3.75
Napier Port Holdings
7D
0.8%
1Y
17.2%
Narrative Update • Jun 25

NPH: Container Volumes And Higher Dividend Will Support Steady Future Returns

Analysts have reaffirmed their NZ$3.74 price target for Napier Port Holdings, reflecting unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions in recent research. What's in the News Napier Port Holdings announced a fully imputed interim dividend of NZ$0.0525 per quoted equity security for the six months to 31 March 2026, compared with NZ$0.0400 per share interim and NZ$0.0250 per share special dividends for the prior period.
AIA
NZ$8.58
Auckland International Airport
7D
0.9%
1Y
11.9%
New Narrative • Jun 24

Auckland International Airport (AIA) - Quality is not the question, price is.

Price NZ$8.18 (≈ A$7.50) · mkt cap ~NZ$13.9b · EV ~NZ$16.4b · as of late Apr 2026 · FY ends 30 June · NZD · prepared through the Franchise Blueprint (v3) Franchise Score 15 / 22 Rating - High-B Verdict WATCH Accumulate below ~NZ$5.75 (≈ A$5.30). A near-irreplaceable monopoly gateway — but capital-heavy, FCF-negative mid-build and priced at ~22–24× EBITDAFI, leaving a sub-hurdle owner's return and a negative margin of safety.
POT
NZ$8.45
Port of Tauranga
7D
-3.4%
1Y
20.7%
Analysis Article • Jun 19

Port Of Tauranga (NZSE:POT) Stock Looks Fully Priced After Infrastructure Push

Infrastructure push reshapes the Port of Tauranga investment story Port of Tauranga (NZSE:POT) is in the spotlight as recent updates outline heavy infrastructure spending, automation projects, and sustainability initiatives designed to handle Upper North Island population and import growth, alongside Auckland capacity constraints. See our latest analysis for Port of Tauranga. Port of Tauranga’s share price has gained 7.01% over the past 90 days and 8.39% year to date to NZ$8.40. Its 1 year...
SPN
NZ$8.48
South Port New Zealand
7D
-0.2%
1Y
15.8%