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New Zealand (NZX) Software Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies8
  • 7D-1.3%
  • 3M-10.3%
  • 1Y-25.8%
  • YTD-1.9%

Over the last 7 days, the Software industry has dropped 1.3%, driven by Vista Group International declining 6.2%. The industry has fallen 26% in the last year. Earnings are forecast to grow by 42% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026NZ$2.1bNZ$577.7m-NZ$7,657,320.8524.6x-273.8x3.6x
Tue, 09 Dec 2025NZ$2.1bNZ$570.7m-NZ$5,538,706.0025.9x-385.5x3.7x
Thu, 06 Nov 2025NZ$2.0bNZ$543.1m-NZ$11,664,685.0044x-172.1x3.7x
Sat, 04 Oct 2025NZ$2.2bNZ$543.2m-NZ$11,437,685.0087.6x-195.4x4.1x
Mon, 01 Sep 2025NZ$2.3bNZ$543.3m-NZ$11,437,685.0084.4x-197.5x4.2x
Wed, 30 Jul 2025NZ$2.5bNZ$535.7m-NZ$11,402,685.0010.5x-215.9x4.6x
Fri, 27 Jun 2025NZ$2.6bNZ$535.7m-NZ$11,402,685.0014.8x-227.1x4.8x
Sun, 25 May 2025NZ$2.6bNZ$536.5m-NZ$13,525,044.0015.2x-189.3x4.8x
Tue, 22 Apr 2025NZ$2.5bNZ$510.5m-NZ$7,237,044.0015.4x-346.7x4.9x
Thu, 20 Mar 2025NZ$2.6bNZ$510.5m-NZ$7,237,044.0017.2x-357x5.1x
Sat, 15 Feb 2025NZ$2.6bNZ$497.9m-NZ$14,705,044.0071.3x-179.3x5.3x
Mon, 13 Jan 2025NZ$2.7bNZ$497.9m-NZ$14,705,044.0072.1x-182.2x5.4x
Wed, 11 Dec 2024NZ$2.7bNZ$497.9m-NZ$14,705,044.0074.2x-183.1x5.4x
Fri, 08 Nov 2024NZ$2.3bNZ$471.5m-NZ$19,124,615.0072.8x-120.1x4.9x
Sun, 06 Oct 2024NZ$2.2bNZ$465.9m-NZ$21,180,615.0076.6x-106x4.8x
Tue, 03 Sep 2024NZ$2.3bNZ$466.0m-NZ$21,051,615.0054.3x-109.8x5x
Thu, 01 Aug 2024NZ$2.2bNZ$466.6m-NZ$32,570,615.0075.1x-67.1x4.7x
Sat, 29 Jun 2024NZ$2.1bNZ$466.6m-NZ$32,570,615.0073.4x-63.6x4.4x
Mon, 27 May 2024NZ$1.9bNZ$460.6m-NZ$34,153,398.0070.2x-55.9x4.1x
Wed, 24 Apr 2024NZ$1.8bNZ$442.9m-NZ$31,607,398.0044.8x-56.2x4x
Fri, 22 Mar 2024NZ$1.9bNZ$442.9m-NZ$31,607,398.0045.6x-59x4.2x
Sun, 18 Feb 2024NZ$1.7bNZ$442.5m-NZ$34,583,398.0042x-50.5x3.9x
Tue, 16 Jan 2024NZ$1.6bNZ$445.5m-NZ$40,707,398.0036.7x-40.3x3.7x
Thu, 14 Dec 2023NZ$1.6bNZ$445.5m-NZ$40,707,398.0035.6x-38.7x3.5x
Sat, 11 Nov 2023NZ$1.4bNZ$411.6m-NZ$55,219,829.0028.7x-26.1x3.5x
Mon, 09 Oct 2023NZ$1.4bNZ$411.6m-NZ$55,219,829.0028x-26.1x3.5x
Wed, 06 Sep 2023NZ$1.4bNZ$411.9m-NZ$56,493,829.0025.2x-24.8x3.4x
Fri, 04 Aug 2023NZ$1.5bNZ$402.2m-NZ$59,595,829.0026.1x-24.4x3.6x
Sun, 02 Jul 2023NZ$1.4bNZ$402.2m-NZ$59,595,829.0025.7x-23.3x3.4x
Tue, 30 May 2023NZ$1.3bNZ$403.3m-NZ$62,856,453.0027x-20.1x3.1x
Thu, 27 Apr 2023NZ$1.0bNZ$360.6m-NZ$87,324,453.0011.5x-11.7x2.8x
Sat, 25 Mar 2023NZ$1.0bNZ$360.6m-NZ$87,324,453.0011.4x-11.6x2.8x
Mon, 20 Feb 2023NZ$1.1bNZ$341.0m-NZ$84,423,453.0013.3x-13.1x3.2x
Wed, 18 Jan 2023NZ$1.0bNZ$300.8m-NZ$86,986,453.00n/a-11.6x3.3x
Price to Earnings Ratio

-11.6x


Total Market Cap: NZ$1.0bTotal Earnings: -NZ$86,986,453.00Total Revenue: NZ$300.8mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Software Industry Price to Earnings3Y Average -119.8x202420252026
Current Industry PE
  • Investors are pessimistic on the New Zealander Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 4.1x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Software industry have improved over the last three years.
  • Revenues for these companies have grown 24% per year.
  • This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.

Industry Trends

Which industries have driven the changes within the New Zealand Tech industry?

NZ Market1.09%
Tech-0.31%
Software-1.26%
Application Software-1.22%
Systems Software-7.41%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 42% over the next 5 years.
    • However this is lower than its past earnings growth rate of 56% per year.
    • In contrast, the Application Software industry is expected to see its earnings grow by 42% 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
    		SKO SerkoNZ$3.154.0%
    +NZ$14.8m    		-17.8%PS3.6x
    		TWL Trade Window HoldingsNZ$0.326.8%
    +NZ$3.2m    		53.7%PS5.7x
    		SDL Solution DynamicsNZ$0.700.7%
    +NZ$73.4k    		0%PE3.9x

    Latest News

    TWL
    NZ$0.32
    Trade Window Holdings
    7D
    6.8%
    1Y
    53.7%
    VGL
    NZ$2.44
    Vista Group International
    7D
    -6.2%
    1Y
    -23.3%

    VGL: Fair Outlook Will Balance Higher Margins With Reduced Future Earnings Multiple

    Analysts have adjusted their price target on Vista Group International to reflect updated assumptions for revenue growth of 15.07%, a profit margin of 9.66% and a future P/E of 37.37x, while keeping fair value steady at $2.80 and making a small change to the discount rate. Valuation Changes Fair Value: Fair value is unchanged at NZ$2.80.
    GTK
    NZ$8.40
    Gentrack Group
    7D
    -0.2%
    1Y
    -32.6%
    LOC
    NZ$0.069
    Locate Technologies
    7D
    -5.5%
    1Y
    n/a
    BPG
    NZ$0.93
    Black Pearl Group
    7D
    -2.6%
    1Y
    -8.4%
    SKO
    NZ$3.15
    Serko
    7D
    4.0%
    1Y
    -17.8%
    ENS
    NZ$0.50
    Enprise Group
    7D
    -7.4%
    1Y
    -57.6%
    SDL
    NZ$0.70
    Solution Dynamics
    7D
    0.7%
    1Y
    0%