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New Zealand (NZX) Telecom Sector Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies4
  • 7D2.8%
  • 3M-1.5%
  • 1Y-0.1%
  • YTD-1.9%

In the last week, the Telecom industry is up 2.8%, with Chorus up 4.2%. Despite this gain, the industry's performance has been flat over the past year. Earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026NZ$8.9bNZ$5.8bNZ$280.9m21.3x31.7x1.5x
Wed, 21 Jan 2026NZ$9.2bNZ$5.8bNZ$257.9m23.2x35.7x1.6x
Fri, 19 Dec 2025NZ$9.0bNZ$5.8bNZ$257.9m23.3x34.9x1.5x
Sun, 16 Nov 2025NZ$9.0bNZ$5.8bNZ$257.9m23.3x35x1.5x
Tue, 14 Oct 2025NZ$9.2bNZ$5.8bNZ$257.9m23.1x35.5x1.6x
Thu, 11 Sep 2025NZ$9.6bNZ$5.9bNZ$255.1m21x37.8x1.6x
Sat, 09 Aug 2025NZ$9.6bNZ$6.0bNZ$176.6m24.1x54.1x1.6x
Mon, 07 Jul 2025NZ$9.1bNZ$6.0bNZ$176.6m23.5x51.4x1.5x
Wed, 04 Jun 2025NZ$8.3bNZ$6.0bNZ$176.6m20.9x47.3x1.4x
Fri, 02 May 2025NZ$8.0bNZ$6.0bNZ$176.6m19.6x45.6x1.3x
Sun, 30 Mar 2025NZ$7.9bNZ$6.0bNZ$176.6m19x44.8x1.3x
Tue, 25 Feb 2025NZ$8.6bNZ$6.0bNZ$215.4m20.9x40.1x1.4x
Thu, 23 Jan 2025NZ$10.0bNZ$6.0bNZ$368.2m17.1x27.3x1.7x
Sat, 21 Dec 2024NZ$9.6bNZ$6.0bNZ$368.2m16.4x26x1.6x
Mon, 18 Nov 2024NZ$10.0bNZ$6.0bNZ$368.2m16.6x27.3x1.7x
Wed, 16 Oct 2024NZ$10.0bNZ$6.0bNZ$368.2m16.8x27.2x1.7x
Fri, 13 Sep 2024NZ$10.7bNZ$6.0bNZ$368.2m17.2x29x1.8x
Sun, 11 Aug 2024NZ$11.8bNZ$6.1bNZ$514.4m18.4x23x2x
Tue, 09 Jul 2024NZ$11.2bNZ$6.1bNZ$514.4m17.1x21.7x1.8x
Thu, 06 Jun 2024NZ$11.2bNZ$6.1bNZ$514.4m17.4x21.8x1.8x
Sat, 04 May 2024NZ$12.3bNZ$6.1bNZ$514.4m20.1x23.9x2x
Mon, 01 Apr 2024NZ$12.6bNZ$6.1bNZ$514.4m20.2x24.4x2.1x
Wed, 28 Feb 2024NZ$13.3bNZ$6.6bNZ$1.2b14.5x10.9x2x
Fri, 26 Jan 2024NZ$13.6bNZ$6.6bNZ$1.2b9.7x11.1x2.1x
Sun, 24 Dec 2023NZ$13.3bNZ$6.6bNZ$1.2b9.5x10.8x2x
Tue, 21 Nov 2023NZ$13.0bNZ$6.6bNZ$1.2b8.9x10.6x2x
Thu, 19 Oct 2023NZ$13.0bNZ$6.6bNZ$1.2b9.1x10.6x2x
Sat, 16 Sep 2023NZ$12.5bNZ$6.6bNZ$1.2b8.7x10.2x1.9x
Mon, 14 Aug 2023NZ$13.8bNZ$6.5bNZ$1.2b8.4x11.9x2.1x
Wed, 12 Jul 2023NZ$13.3bNZ$6.5bNZ$1.2b8.1x11.5x2.1x
Fri, 09 Jun 2023NZ$13.8bNZ$6.5bNZ$1.2b8.4x11.9x2.1x
Sun, 07 May 2023NZ$14.0bNZ$6.5bNZ$1.2b8.7x12x2.2x
Tue, 04 Apr 2023NZ$13.7bNZ$6.5bNZ$1.2b8.7x11.8x2.1x
Thu, 02 Mar 2023NZ$13.6bNZ$6.5bNZ$1.2b9.1x11.7x2.1x
Price to Earnings Ratio

11.7x


Total Market Cap: NZ$13.6bTotal Earnings: NZ$1.2bTotal Revenue: NZ$6.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Telecom Sector Price to Earnings3Y Average 25.9x202420252026
Current Industry PE
  • Investors are optimistic on the New Zealander Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.7x which is higher than its 3-year average PE of 25.9x.
  • 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 38% per year over the last three years,
  • Revenues have also declined 3.5% 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 Market0.28%
Telecom2.80%
Telecom Services and Carriers3.00%
Media0.28%
Interactive Media and Services0%0
Wireless Telecom0%0
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 107x.
    • Analysts are expecting annual earnings growth of 14.3%, which is higher than its past year's earnings decline of 58.7% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 26.1x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom Services and Carriers industry, expecting annual earnings growth of 17% 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 grow by 14% 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$9.514.2%
+NZ$164.9m		6.5%PE1031.6x
SPK Spark New ZealandNZ$2.191.9%
+NZ$75.6m		-8.0%PE15.1x
SKT SKY Network TelevisionNZ$3.130.6%
+NZ$2.8m		24.2%PE21.3x

Latest News

CNU
NZ$9.51
Chorus
7D
4.2%
1Y
6.5%

CNU: Debt Offering And Lower Future P/E Will Shape Balanced Outlook

Analysts have trimmed their Chorus price target to NZ$44.10 from NZ$54.15, reflecting updated assumptions around discount rates, profit margins, and a lower future P/E multiple, while keeping their fair value estimate steady at NZ$9.45. What's in the News MUFG Securities Asia (Singapore) Limited has been added as a co lead underwriter for Chorus Limited's €400 million fixed income offering (Key Developments).
SPK
NZ$2.19
Spark New Zealand
7D
1.9%
1Y
-8.0%
NZM
NZ$1.11
NZME
7D
-0.4%
1Y
6.7%
SKT
NZ$3.13
SKY Network Television
7D
0.6%
1Y
24.2%