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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies4
  • 7D2.1%
  • 3M-1.7%
  • 1Y9.7%
  • YTD-0.05%

In the last week, the Infrastructure industry is up 2.1%, with Auckland International Airport up 2.2%. In the last 12 months, the industry was up 9.7%. Earnings are forecast to grow by 4.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026NZ$20.4bNZ$1.7bNZ$640.7m26.5x31.9x12.1x
Tue, 10 Mar 2026NZ$20.4bNZ$1.7bNZ$640.7m25.9x31.9x12.1x
Thu, 05 Feb 2026NZ$20.4bNZ$1.6bNZ$638.3m27.2x31.9x12.4x
Sat, 03 Jan 2026NZ$20.3bNZ$1.6bNZ$638.3m27.2x31.8x12.4x
Mon, 01 Dec 2025NZ$19.7bNZ$1.6bNZ$638.3m26.4x30.8x12x
Wed, 29 Oct 2025NZ$20.1bNZ$1.6bNZ$641.8m25.3x31.4x12.3x
Fri, 26 Sep 2025NZ$19.1bNZ$1.6bNZ$641.8m23.7x29.7x11.7x
Sun, 24 Aug 2025NZ$18.3bNZ$1.6bNZ$572.2m24.1x32.1x11.4x
Tue, 22 Jul 2025NZ$18.8bNZ$1.6bNZ$218.7m33.7x86x12.1x
Thu, 19 Jun 2025NZ$19.1bNZ$1.6bNZ$222.6m44.9x86x12.2x
Sat, 17 May 2025NZ$19.0bNZ$1.6bNZ$216.7m43.3x87.4x12.1x
Mon, 14 Apr 2025NZ$18.7bNZ$1.6bNZ$216.7m40.5x86.2x12x
Wed, 12 Mar 2025NZ$18.9bNZ$1.6bNZ$216.7m44.2x87.1x12.1x
Fri, 07 Feb 2025NZ$19.9bNZ$1.5bNZ$133.0m30.3x149.7x13.4x
Sun, 05 Jan 2025NZ$19.5bNZ$1.5bNZ$133.0m30.5x146.3x13.1x
Tue, 03 Dec 2024NZ$18.0bNZ$1.5bNZ$133.0m31.4x135.3x12.1x
Thu, 31 Oct 2024NZ$17.0bNZ$1.5bNZ$131.0m32.7x130.1x11.6x
Sat, 28 Sep 2024NZ$17.3bNZ$1.5bNZ$131.0m31.3x132.1x11.7x
Mon, 26 Aug 2024NZ$15.6bNZ$1.5bNZ$131.0m31.3x119.4x10.6x
Wed, 24 Jul 2024NZ$16.1bNZ$1.3bNZ$298.3m22.1x53.9x11.9x
Fri, 21 Jun 2024NZ$15.2bNZ$1.3bNZ$298.3m22.3x51x11.3x
Sun, 19 May 2024NZ$15.3bNZ$1.3bNZ$292.7m28.2x52.4x11.4x
Tue, 16 Apr 2024NZ$16.2bNZ$1.3bNZ$292.7m27.4x55.4x12.1x
Thu, 14 Mar 2024NZ$16.4bNZ$1.3bNZ$292.7m28.4x56x12.2x
Sat, 10 Feb 2024NZ$16.9bNZ$1.2bNZ$196.6m29.2x86.1x14x
Mon, 08 Jan 2024NZ$17.0bNZ$1.2bNZ$196.6m30.6x86.7x14.1x
Wed, 06 Dec 2023NZ$16.5bNZ$1.2bNZ$196.6m29.7x84.1x13.7x
Fri, 03 Nov 2023NZ$15.6bNZ$1.2bNZ$197.3m25.7x79.2x12.9x
Sun, 01 Oct 2023NZ$16.5bNZ$1.2bNZ$197.3m27x83.7x13.6x
Tue, 29 Aug 2023NZ$16.6bNZ$1.2bNZ$197.3m25.9x84.1x13.7x
Thu, 27 Jul 2023NZ$17.2bNZ$1.0bNZ$250.6m24x68.7x16.6x
Sat, 24 Jun 2023NZ$17.6bNZ$1.0bNZ$250.6m23.8x70.2x16.9x
Mon, 22 May 2023NZ$18.4bNZ$1.0bNZ$250.9m24x73.4x17.9x
Wed, 19 Apr 2023NZ$17.9bNZ$1.0bNZ$250.9m24.8x71.5x17.5x
Price to Earnings Ratio

71.5x


Total Market Cap: NZ$17.9bTotal Earnings: NZ$250.9mTotal Revenue: NZ$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 75.1x202420252026
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 31.9x which is lower than its 3-year average PE of 75.1x.
  • The industry is trading close to its 3-year average PS ratio of 12.9x.
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 Market1.86%
Industrials2.49%
Infrastructure2.09%
Airport Services2.23%
Marine Ports and Services1.80%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 506x.
    • Analysts are expecting annual earnings growth of 3.5%, 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 32.8x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 5.2% over the next 5 years.
  • In contrast, the Airport Services industry is expected to see its earnings grow by 3.5% 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$8.252.2%
+NZ$306.0m		2.0%PE34.2x
POT Port of TaurangaNZ$8.021.6%
+NZ$88.4m		29.8%PE29.7x
NPH Napier Port HoldingsNZ$3.604.3%
+NZ$29.9m		41.2%PE23.3x

Latest News

NPH
NZ$3.60
Napier Port Holdings
7D
4.3%
1Y
41.2%

NPH: Steady Trade Volumes And Margins Will Support Future Returns

Analysts have kept their NZ$3.72 price target for Napier Port Holdings unchanged, citing only minor tweaks to assumptions such as discount rate and future P/E, rather than any shift in their core view on the company. What's in the News Reported first quarter trade volume data for the period ended 31 December 2025, giving you an updated read on container and bulk activity at the port (Key Developments).
AIA
NZ$8.25
Auckland International Airport
7D
2.2%
1Y
2.0%

AIA: Steady Traffic And Dividend Payout Will Support A Balanced Outlook

Analysts have kept their NZ$8.65 price target for Auckland International Airport steady, pointing to only marginal tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions rather than any shifts in the core valuation view. What's in the News Auckland International Airport reported February 2026 traffic results, with Auckland Airport handling 1,612,458 total passengers, 13,076 aircraft movements and 637,621 tonnes of MCTOW, while Queenstown Airport saw 228,905 passengers and 1,525 aircraft movements (company traffic update, February 2026).
POT
NZ$8.02
Port of Tauranga
7D
1.6%
1Y
29.8%
SPN
NZ$8.28
South Port New Zealand
7D
-2.5%
1Y
42.3%