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New Zealand (NZX) Telecom Sector Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies4
  • 7D-2.6%
  • 3M-3.5%
  • 1Y10.4%
  • YTD-4.1%

Over the last 7 days, the Telecom industry has dropped 2.6%, driven by a pullback from Spark New Zealand of 8.3%. In the past year, the industry has gained 10%. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

Has the New Zealand Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026NZ$8.7bNZ$5.8bNZ$386.5m15.2x22.5x1.5x
Fri, 20 Feb 2026NZ$8.7bNZ$5.8bNZ$280.9m22.1x31x1.5x
Sun, 18 Jan 2026NZ$9.3bNZ$5.8bNZ$257.9m23.3x35.9x1.6x
Tue, 16 Dec 2025NZ$9.0bNZ$5.8bNZ$257.9m23.3x34.9x1.5x
Thu, 13 Nov 2025NZ$9.2bNZ$5.8bNZ$257.9m24.5x35.6x1.6x
Sat, 11 Oct 2025NZ$9.3bNZ$5.8bNZ$257.9m22.8x36x1.6x
Mon, 08 Sep 2025NZ$9.8bNZ$5.9bNZ$255.1m21.2x38.4x1.7x
Wed, 06 Aug 2025NZ$9.2bNZ$6.0bNZ$176.6m23.4x51.8x1.5x
Fri, 04 Jul 2025NZ$9.1bNZ$6.0bNZ$176.6m23.6x51.3x1.5x
Sun, 01 Jun 2025NZ$8.4bNZ$6.0bNZ$176.6m21.1x47.3x1.4x
Tue, 29 Apr 2025NZ$8.0bNZ$6.0bNZ$176.6m19.6x45.4x1.3x
Thu, 27 Mar 2025NZ$7.8bNZ$6.0bNZ$176.6m19.1x44.2x1.3x
Sat, 22 Feb 2025NZ$9.8bNZ$6.0bNZ$215.4m20.9x45.6x1.6x
Mon, 20 Jan 2025NZ$10.0bNZ$6.0bNZ$368.2m17.1x27.1x1.7x
Wed, 18 Dec 2024NZ$9.8bNZ$6.0bNZ$368.2m16.6x26.6x1.6x
Fri, 15 Nov 2024NZ$10.0bNZ$6.0bNZ$368.2m16.8x27.1x1.7x
Sun, 13 Oct 2024NZ$10.0bNZ$6.0bNZ$368.2m17x27.3x1.7x
Tue, 10 Sep 2024NZ$10.7bNZ$6.0bNZ$368.2m17.7x29.1x1.8x
Thu, 08 Aug 2024NZ$12.0bNZ$6.1bNZ$514.4m18.7x23.3x2x
Sat, 06 Jul 2024NZ$11.3bNZ$6.1bNZ$514.4m17.3x22x1.9x
Mon, 03 Jun 2024NZ$11.3bNZ$6.1bNZ$514.4m17.7x21.9x1.9x
Wed, 01 May 2024NZ$12.4bNZ$6.1bNZ$514.4m20.3x24x2x
Fri, 29 Mar 2024NZ$12.6bNZ$6.1bNZ$514.4m20.2x24.4x2.1x
Sun, 25 Feb 2024NZ$13.4bNZ$6.6bNZ$1.2b14.6x10.9x2x
Tue, 23 Jan 2024NZ$13.5bNZ$6.6bNZ$1.2b9.6x11x2x
Thu, 21 Dec 2023NZ$13.2bNZ$6.6bNZ$1.2b9.2x10.8x2x
Sat, 18 Nov 2023NZ$13.2bNZ$6.6bNZ$1.2b8.9x10.7x2x
Mon, 16 Oct 2023NZ$12.9bNZ$6.6bNZ$1.2b8.9x10.5x2x
Wed, 13 Sep 2023NZ$12.9bNZ$6.6bNZ$1.2b9.1x10.5x2x
Fri, 11 Aug 2023NZ$13.8bNZ$6.5bNZ$1.2b8.4x11.9x2.1x
Sun, 09 Jul 2023NZ$13.3bNZ$6.5bNZ$1.2b8.1x11.5x2.1x
Tue, 06 Jun 2023NZ$13.9bNZ$6.5bNZ$1.2b8.2x11.9x2.2x
Thu, 04 May 2023NZ$14.0bNZ$6.5bNZ$1.2b8.7x12x2.2x
Sat, 01 Apr 2023NZ$13.8bNZ$6.5bNZ$1.2b8.6x11.8x2.1x
Price to Earnings Ratio

11.8x


Total Market Cap: NZ$13.8bTotal Earnings: NZ$1.2bTotal Revenue: NZ$6.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Telecom Sector Price to Earnings3Y Average 26.3x202420252026
Current Industry PE
  • Investors are pessimistic on the New Zealander Communication Services 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 22.5x which is lower than its 3-year average PE of 26.3x.
  • The 3-year average PS ratio of 1.8x is higher than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 31% per year over the last three years,
  • Revenues have also declined 3.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the New Zealand Telecom sector?

NZ Market-3.36%
Telecom-2.65%
Media1.06%
Interactive Media and Services0%0
Wireless Telecom0%0
Telecom Services and Carriers-2.93%
Industry PE
  • Investors are most optimistic about the Telecom Services and Carriers industry, which is trading close to its 3-year average PE ratio of 26.5x.
    • Analysts are expecting annual earnings growth of 19.0%, which is lower than the prior year's growth of 48.6% per year.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 109x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom Services and Carriers industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 49% per year.
  • In contrast, the Media industry is expected to see its earnings decline by 8.1% 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
CNU ChorusNZ$9.510.8%
+NZ$34.7m		19.2%PE171.9x
SKT SKY Network TelevisionNZ$3.181.3%
+NZ$5.5m		30.9%PE5.9x

Latest News

CNU
NZ$9.51
Chorus
7D
0.8%
1Y
19.2%

CNU: Stable Assumptions And Minor Model Tweaks Will Guide Balanced Outlook

Analysts have kept their NZ$9.46 fair value estimate for Chorus broadly unchanged, with only minor tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions to reflect updated modelling rather than a shift in overall conviction. Valuation Changes Fair Value: The fair value estimate of NZ$9.46 per share is unchanged in both the prior and updated models.
SPK
NZ$2.09
Spark New Zealand
7D
-8.3%
1Y
0.7%
SKT
NZ$3.18
SKY Network Television
7D
1.3%
1Y
30.9%
NZM
NZ$1.11
NZME
7D
-2.6%
1Y
-7.5%