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New Zealand (NZX) Software Industry Analysis

UpdatedJul 06, 2026
DataAggregated Company Financials
Companies8
  • 7D-2.5%
  • 3M-13.9%
  • 1Y-55.3%
  • YTD-40.3%

Over the last 7 days, the Software industry has dropped 2.5%, driven by a pullback from Gentrack Group of 1.8%. On the other hand Black Pearl Group is actually up 26%. Overall the industry is down 55% in 12 months. As for the next few years, earnings are expected to grow by 37% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Jul 2026NZ$1.3bNZ$586.1m-NZ$3,109,511.0022.9x-411x2.2x
Wed, 03 Jun 2026NZ$1.4bNZ$586.1m-NZ$3,109,511.0023.7x-436.9x2.3x
Fri, 01 May 2026NZ$1.5bNZ$576.0m-NZ$9,533,965.0032.5x-154.1x2.6x
Sun, 29 Mar 2026NZ$1.5bNZ$576.0m-NZ$9,533,965.0036.4x-155x2.6x
Tue, 24 Feb 2026NZ$1.7bNZ$577.8m-NZ$7,690,391.3521.6x-216.4x2.9x
Thu, 22 Jan 2026NZ$2.0bNZ$577.6m-NZ$7,634,251.4924.2x-264.1x3.5x
Sat, 20 Dec 2025NZ$2.0bNZ$570.7m-NZ$5,538,706.0023.4x-368.7x3.6x
Mon, 17 Nov 2025NZ$1.9bNZ$543.1m-NZ$11,664,685.0040.1x-166.7x3.6x
Wed, 15 Oct 2025NZ$2.2bNZ$543.1m-NZ$11,664,685.0045.1x-187.2x4x
Fri, 12 Sep 2025NZ$2.3bNZ$543.2m-NZ$11,437,685.0085.2x-198.2x4.2x
Sun, 10 Aug 2025NZ$2.4bNZ$535.7m-NZ$11,402,685.0011.1x-207.1x4.4x
Tue, 08 Jul 2025NZ$2.7bNZ$535.7m-NZ$11,402,685.0014.8x-235.5x5x
Thu, 05 Jun 2025NZ$2.6bNZ$535.7m-NZ$11,402,685.0015.2x-231.9x4.9x
Sat, 03 May 2025NZ$2.7bNZ$510.5m-NZ$7,237,044.0015.4x-372.2x5.3x
Mon, 31 Mar 2025NZ$2.7bNZ$510.5m-NZ$7,237,044.0015.8x-373.3x5.3x
Wed, 26 Feb 2025NZ$2.5bNZ$497.9m-NZ$14,705,044.0063.8x-170.8x5x
Fri, 24 Jan 2025NZ$2.6bNZ$497.9m-NZ$14,705,044.0069.7x-179.6x5.3x
Sun, 22 Dec 2024NZ$2.6bNZ$497.9m-NZ$14,705,044.0071.2x-179x5.3x
Tue, 19 Nov 2024NZ$2.4bNZ$471.5m-NZ$19,124,615.0075.8x-124.1x5x
Thu, 17 Oct 2024NZ$2.3bNZ$465.9m-NZ$21,180,615.0077.9x-109.9x5x
Sat, 14 Sep 2024NZ$2.4bNZ$466.0m-NZ$21,051,615.0060x-112.2x5.1x
Mon, 12 Aug 2024NZ$2.2bNZ$466.5m-NZ$26,270,615.0070.8x-85.6x4.8x
Wed, 10 Jul 2024NZ$2.2bNZ$466.6m-NZ$32,570,615.0078.2x-66.4x4.6x
Fri, 07 Jun 2024NZ$2.0bNZ$467.2m-NZ$32,570,615.0070.1x-62x4.3x
Sun, 05 May 2024NZ$1.8bNZ$442.9m-NZ$31,607,398.0045.5x-56.8x4.1x
Tue, 02 Apr 2024NZ$1.9bNZ$442.9m-NZ$31,607,398.0048.7x-61.5x4.4x
Thu, 29 Feb 2024NZ$1.8bNZ$441.5m-NZ$34,567,398.0043.3x-50.8x4x
Sat, 27 Jan 2024NZ$1.6bNZ$445.5m-NZ$40,707,398.0036.3x-39.6x3.6x
Mon, 25 Dec 2023NZ$1.6bNZ$445.5m-NZ$40,707,398.0036.1x-39.7x3.6x
Wed, 22 Nov 2023NZ$1.5bNZ$428.6m-NZ$42,653,829.0028.8x-34.2x3.4x
Fri, 20 Oct 2023NZ$1.5bNZ$411.6m-NZ$55,219,829.0028.1x-26.3x3.5x
Sun, 17 Sep 2023NZ$1.4bNZ$411.5m-NZ$56,493,829.0026x-24.8x3.4x
Tue, 15 Aug 2023NZ$1.4bNZ$402.2m-NZ$59,595,829.0025.3x-24.3x3.6x
Thu, 13 Jul 2023NZ$1.4bNZ$402.2m-NZ$59,595,829.0025.2x-23.7x3.5x
Price to Earnings Ratio

-23.7x


Total Market Cap: NZ$1.4bTotal Earnings: -NZ$59,595,829.00Total Revenue: NZ$402.2mTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Software Industry Price to Earnings3Y Average -157.7x202420252026
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 2.2x.
Past Earnings Growth
  • The earnings for companies in the Software industry have improved over the last three years.
  • Revenues for these companies have grown 13% 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 Market0.46%
Tech-2.18%
Software-2.45%
Systems Software0%0
Application Software-2.47%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 37% over the next 5 years.
    • This is better than its past earnings decline of 8.4% per year.
    • In contrast, the Application Software industry is expected to see its earnings grow by 37% 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
    		BPG Black Pearl GroupNZ$0.6326.0%
    +NZ$12.4m    		-46.2%n/a
    		VGL Vista Group InternationalNZ$2.451.2%
    +NZ$7.2m    		-30.0%PE308.6x

    Latest News

    BPG
    NZ$0.63
    Black Pearl Group
    7D
    26.0%
    1Y
    -46.2%
    GTK
    NZ$3.75
    Gentrack Group
    7D
    -1.8%
    1Y
    -69.7%
    Narrative Update • Jun 26

    GTK: Future Recurring Revenue Mix Will Support Stronger Long Term Outlook

    Analysts have updated their view on Gentrack Group, with the implied fair value in their price target moving from NZ$8.85 to NZ$4.40. This reflects revised assumptions for the discount rate, expected revenue growth, profit margins and future P/E multiples.
    VGL
    NZ$2.45
    Vista Group International
    7D
    1.2%
    1Y
    -30.0%
    Narrative Update • Jun 17

    VGL: Governance Dispute Will Weigh On Shares Despite New Client Rollout

    Vista Group International's analyst price target has been adjusted to NZ$1.82, with analysts linking this to updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What’s in the News for Vista Group International Vista Group International announced that Regal Cineworld Group plans to transition 88 Cineworld sites with more than 950 screens in the United Kingdom to Vista Cloud’s Digital Enablement capability, with rollout expected during 2026, following the transition of 25 Picturehouse Cinemas sites in 2025.
    SDL
    NZ$0.58
    Solution Dynamics
    7D
    -4.9%
    1Y
    -3.3%