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New Zealand (NZX) Infrastructure Industry Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies4
  • 7D0.1%
  • 3M-5.1%
  • 1Y11.5%
  • YTD0.8%

Over the last 7 days, the Infrastructure industry has dropped 2.1%, driven by a pullback from Auckland International Airport of 3.1%. This takes the industry's 12 month performance to a gain of 9.6%. Earnings are forecast to grow by 3.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026NZ$20.6bNZ$1.7bNZ$638.5m27.7x32.2x12.1x
Thu, 23 Apr 2026NZ$20.4bNZ$1.7bNZ$640.7m26.6x31.8x12.1x
Sat, 21 Mar 2026NZ$20.2bNZ$1.7bNZ$640.7m26.2x31.5x11.9x
Mon, 16 Feb 2026NZ$20.6bNZ$1.6bNZ$641.0m27.4x32.2x12.5x
Wed, 14 Jan 2026NZ$20.5bNZ$1.6bNZ$638.3m28.4x32.1x12.5x
Fri, 12 Dec 2025NZ$19.7bNZ$1.6bNZ$638.3m26.5x30.8x12x
Sun, 09 Nov 2025NZ$19.7bNZ$1.6bNZ$641.8m24.8x30.8x12.1x
Tue, 07 Oct 2025NZ$19.6bNZ$1.6bNZ$641.8m24.8x30.5x12x
Thu, 04 Sep 2025NZ$18.5bNZ$1.6bNZ$641.8m23.6x28.8x11.3x
Sat, 02 Aug 2025NZ$18.2bNZ$1.6bNZ$218.7m33.2x83.4x11.7x
Mon, 30 Jun 2025NZ$18.3bNZ$1.6bNZ$218.7m32.7x83.8x11.7x
Wed, 28 May 2025NZ$18.5bNZ$1.6bNZ$222.6m43.4x83.2x11.8x
Fri, 25 Apr 2025NZ$18.7bNZ$1.6bNZ$216.7m41x86.1x11.9x
Sun, 23 Mar 2025NZ$18.4bNZ$1.6bNZ$216.7m42.3x84.8x11.8x
Tue, 18 Feb 2025NZ$19.7bNZ$1.5bNZ$135.8m30.8x145x13.2x
Thu, 16 Jan 2025NZ$19.3bNZ$1.5bNZ$133.0m30.2x145.3x13x
Sat, 14 Dec 2024NZ$18.9bNZ$1.5bNZ$133.0m32.1x141.8x12.7x
Mon, 11 Nov 2024NZ$17.2bNZ$1.5bNZ$131.0m32.2x131.2x11.6x
Wed, 09 Oct 2024NZ$16.9bNZ$1.5bNZ$131.0m32.4x129.3x11.5x
Fri, 06 Sep 2024NZ$15.7bNZ$1.5bNZ$131.0m30.8x119.5x10.6x
Sun, 04 Aug 2024NZ$15.7bNZ$1.3bNZ$298.3m22.4x52.8x11.7x
Tue, 02 Jul 2024NZ$15.4bNZ$1.3bNZ$298.3m21.7x51.5x11.4x
Thu, 30 May 2024NZ$15.3bNZ$1.3bNZ$292.7m30.4x52.3x11.4x
Sat, 27 Apr 2024NZ$15.7bNZ$1.3bNZ$292.7m28.6x53.7x11.7x
Mon, 25 Mar 2024NZ$16.4bNZ$1.3bNZ$292.7m27.4x56x12.2x
Wed, 21 Feb 2024NZ$16.5bNZ$1.2bNZ$194.4m29.5x84.8x13.6x
Fri, 19 Jan 2024NZ$17.1bNZ$1.2bNZ$196.6m29.2x87.1x14.2x
Sun, 17 Dec 2023NZ$17.0bNZ$1.2bNZ$196.6m30.6x86.5x14.1x
Tue, 14 Nov 2023NZ$15.7bNZ$1.2bNZ$197.3m27.2x79.6x13x
Thu, 12 Oct 2023NZ$16.3bNZ$1.2bNZ$197.3m25.9x82.7x13.5x
Sat, 09 Sep 2023NZ$16.4bNZ$1.2bNZ$197.3m26.1x82.9x13.5x
Mon, 07 Aug 2023NZ$17.3bNZ$1.0bNZ$250.6m23.8x68.9x16.6x
Wed, 05 Jul 2023NZ$17.8bNZ$1.0bNZ$250.6m24.3x70.9x17.1x
Fri, 02 Jun 2023NZ$18.2bNZ$1.0bNZ$250.6m25.6x72.7x17.6x
Price to Earnings Ratio

72.7x


Total Market Cap: NZ$18.2bTotal Earnings: NZ$250.6mTotal Revenue: NZ$1.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Infrastructure Industry Price to Earnings3Y Average 73.5x202420252026
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 73.5x.
  • The industry is trading close to its 3-year average PS ratio of 12.7x.
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 Market1.26%
Industrials2.52%
Infrastructure0.13%
Airport Services0.24%
Marine Ports and Services-0.11%
Industry PE
  • Investors are most optimistic about the Airport Services industry even though it's trading below its 3-year average PE ratio of 502x.
    • 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 32.7x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 4.7% 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$8.270.2%
+NZ$34.0m		6.6%PE34.3x
SPN South Port New ZealandNZ$9.004.5%
+NZ$10.2m		47.5%PE14.7x

Latest News

NPH
NZ$3.61
Napier Port Holdings
7D
-0.6%
1Y
19.1%
Narrative Update • May 23

NPH: Container Strength And Stable Margins Will Support Future Returns

Analysts have lifted their price target on Napier Port Holdings slightly to NZ$3.74 from NZ$3.72, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Half year to 31 March 2026 trade data shows total container volumes of 116k TEU, up 3.5% from 112k TEU in the prior period, indicating higher container activity through the port (company announcement).
POT
NZ$8.18
Port of Tauranga
7D
-0.2%
1Y
23.8%
AIA
NZ$8.27
Auckland International Airport
7D
0.2%
1Y
6.6%
Narrative Update • May 03

AIA: Passenger Volumes And Dividend Policy Will Support A Steady Outlook

Analysts have nudged their 12 month price target for Auckland International Airport slightly lower from about NZ$8.67 to around NZ$8.66, reflecting small adjustments to fair value, discount rate, expected revenue growth, profit margins and future P/E assumptions. What's in the News Reported March 2026 traffic data, with Auckland Airport handling 1,719,050 passengers and 13,961 aircraft movements, and Queenstown Airport handling 247,220 passengers and 1,671 aircraft movements (company traffic update).
SPN
NZ$9.00
South Port New Zealand
7D
4.5%
1Y
47.5%