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New Zealand (NZX) Telecom Sector Analysis

UpdatedSep 22, 2026
DataAggregated Company Financials
Companies4
  • 7D0.8%
  • 3M-2.6%
  • 1Y-10.3%
  • YTD-9.7%

Over the last 7 days, the Telecom industry has dropped 3.3%, driven by SKY Network Television declining 2.0%. Overall the industry is down 12% in 12 months. As for the next few years, earnings are expected to grow by 9.5% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 22 Sep 2026NZ$8.2bNZ$6.1bNZ$602.5m9x13.6x1.3x
Thu, 20 Aug 2026NZ$8.6bNZ$5.8bNZ$386.5m14.6x22.3x1.5x
Sat, 18 Jul 2026NZ$8.3bNZ$5.8bNZ$386.5m14.2x21.4x1.4x
Mon, 15 Jun 2026NZ$8.6bNZ$5.8bNZ$386.5m14.7x22.3x1.5x
Wed, 13 May 2026NZ$8.9bNZ$5.8bNZ$386.5m15.3x23.1x1.5x
Fri, 10 Apr 2026NZ$8.9bNZ$5.8bNZ$386.5m15.4x23.1x1.5x
Sun, 08 Mar 2026NZ$9.1bNZ$5.8bNZ$386.5m16.2x23.5x1.6x
Tue, 03 Feb 2026NZ$9.1bNZ$5.8bNZ$257.9m22.5x35.1x1.6x
Thu, 01 Jan 2026NZ$9.1bNZ$5.8bNZ$257.9m23.1x35.2x1.6x
Sat, 29 Nov 2025NZ$8.9bNZ$5.8bNZ$257.9m23.8x34.7x1.5x
Mon, 27 Oct 2025NZ$9.3bNZ$5.8bNZ$257.9m23.8x35.9x1.6x
Wed, 24 Sep 2025NZ$9.2bNZ$5.9bNZ$255.1m21x35.9x1.6x
Fri, 22 Aug 2025NZ$9.6bNZ$5.9bNZ$234.6m20.9x40.7x1.6x
Sun, 20 Jul 2025NZ$9.2bNZ$6.0bNZ$176.6m23.5x52.2x1.5x
Tue, 17 Jun 2025NZ$8.8bNZ$6.0bNZ$176.6m22.2x49.9x1.5x
Thu, 15 May 2025NZ$8.3bNZ$6.0bNZ$176.6m20.1x47.3x1.4x
Sat, 12 Apr 2025NZ$7.9bNZ$6.0bNZ$176.6m19.2x44.9x1.3x
Mon, 10 Mar 2025NZ$8.1bNZ$6.0bNZ$176.6m20x46.1x1.4x
Wed, 05 Feb 2025NZ$9.7bNZ$6.0bNZ$368.2m16.7x26.4x1.6x
Fri, 03 Jan 2025NZ$9.8bNZ$6.0bNZ$368.2m16.7x26.7x1.6x
Sun, 01 Dec 2024NZ$9.8bNZ$6.0bNZ$368.2m16.8x26.7x1.6x
Tue, 29 Oct 2024NZ$9.9bNZ$6.0bNZ$368.2m16.8x27x1.7x
Thu, 26 Sep 2024NZ$9.8bNZ$6.0bNZ$368.2m16.6x26.6x1.6x
Sat, 24 Aug 2024NZ$11.3bNZ$6.0bNZ$398.8m22.9x28.2x1.9x
Mon, 22 Jul 2024NZ$11.6bNZ$6.1bNZ$514.4m17.8x22.5x1.9x
Wed, 19 Jun 2024NZ$11.1bNZ$6.1bNZ$514.4m17.1x21.5x1.8x
Fri, 17 May 2024NZ$11.4bNZ$6.1bNZ$514.4m18x22.1x1.9x
Sun, 14 Apr 2024NZ$12.4bNZ$6.1bNZ$514.4m20x24.1x2x
Tue, 12 Mar 2024NZ$13.2bNZ$6.1bNZ$514.4m21.4x25.6x2.2x
Thu, 08 Feb 2024NZ$13.6bNZ$6.6bNZ$1.2b9.6x11.1x2.1x
Sat, 06 Jan 2024NZ$13.3bNZ$6.6bNZ$1.2b9.7x10.9x2x
Mon, 04 Dec 2023NZ$13.2bNZ$6.6bNZ$1.2b8.7x10.7x2x
Wed, 01 Nov 2023NZ$12.8bNZ$6.6bNZ$1.2b8.5x10.4x1.9x
Fri, 29 Sep 2023NZ$12.6bNZ$6.6bNZ$1.2b8.7x10.3x1.9x
Price to Earnings Ratio

10.3x


Total Market Cap: NZ$12.6bTotal Earnings: NZ$1.2bTotal Revenue: NZ$6.6bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Telecom Sector Price to Earnings3Y Average 27.8x202420252026
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 13.4x which is lower than its 3-year average PE of 27.8x.
  • The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 21% per year over the last three years,
  • Revenues have also declined 2.3% 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 Market1.82%
Telecom0.75%
Telecom Services and Carriers0.91%
Interactive Media and Services0%0
Wireless Telecom0%0
Media-1.00%
Industry PE
  • Investors are most optimistic about the Telecom Services and Carriers industry even though it's trading below its 3-year average PE ratio of 28.7x.
    • Analysts are expecting annual earnings growth of 10.8%, which is lower than the prior year's growth of 458.9% 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 11% over the next 5 years.
  • In contrast, the Media industry is expected to see its earnings decline by 4.9% 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$8.502.5%
+NZ$91.1m		-9.3%PE99.7x
NZM NZMENZ$1.104.8%
+NZ$9.4m		0.5%PE10.3x

Latest News

SKT
NZ$3.46
SKY Network Television
7D
-1.1%
1Y
12.3%
CNU
NZ$8.50
Chorus
7D
2.5%
1Y
-9.3%
SPK
NZ$2.01
Spark New Zealand
7D
-2.0%
1Y
-14.5%
Narrative Update • Sep 03

SPK: Digital Services Review Will Reveal Fragile Earnings And Dividend Outlook

Analysts have slightly raised their fair value estimate for Spark New Zealand from NZ$1.80 to NZ$1.90, citing updated assumptions around discount rates, revenue growth, and future P/E expectations. What’s in the News for Spark New Zealand Spark New Zealand has started a review of its Digital Services division, with an advisor appointed and completion expected in the first half of fiscal 2027, as part of the SPK 30 program to focus more on connectivity and simplify cloud and IT services.
NZM
NZ$1.10
NZME
7D
4.8%
1Y
0.5%