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New Zealand (NZX) Utilities Sector Analysis

UpdatedFeb 15, 2025
DataAggregated Company Financials
Companies7
  • 7D1.7%
  • 3M3.2%
  • 1Y4.1%
  • YTD2.9%

In the last week, the Utilities industry is up 1.7%, with Meridian Energy up 2.4%. This means that the industry has gained 4.1% over the past year. As for the next few years, earnings are expected to grow by 9.2% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Feb 2025NZ$40.4bNZ$15.9bNZ$1.1b34.3x35.8x2.5x
Tue, 14 Jan 2025NZ$39.4bNZ$15.9bNZ$1.1b33.9x34.9x2.5x
Thu, 12 Dec 2024NZ$38.8bNZ$15.9bNZ$1.1b32.4x34.5x2.4x
Sat, 09 Nov 2024NZ$39.0bNZ$15.8bNZ$1.2b35.7x32.9x2.5x
Mon, 07 Oct 2024NZ$38.9bNZ$15.8bNZ$1.2b36.3x32.8x2.5x
Wed, 04 Sep 2024NZ$39.1bNZ$15.8bNZ$1.2b37.2x33x2.5x
Fri, 02 Aug 2024NZ$40.8bNZ$13.6bNZ$580.7m55.4x70.2x3x
Sun, 30 Jun 2024NZ$40.0bNZ$13.6bNZ$580.7m54.6x68.8x2.9x
Tue, 28 May 2024NZ$39.6bNZ$13.6bNZ$580.7m54.8x68.2x2.9x
Thu, 25 Apr 2024NZ$38.9bNZ$13.6bNZ$669.6m41.5x58x2.9x
Sat, 23 Mar 2024NZ$39.3bNZ$13.6bNZ$669.6m42.4x58.7x2.9x
Mon, 19 Feb 2024NZ$38.6bNZ$12.1bNZ$738.8m42.5x52.2x3.2x
Wed, 17 Jan 2024NZ$37.6bNZ$12.1bNZ$738.8m42x50.9x3.1x
Fri, 15 Dec 2023NZ$36.2bNZ$12.1bNZ$738.8m41x49x3x
Sun, 12 Nov 2023NZ$34.9bNZ$12.1bNZ$723.2m41x48.3x2.9x
Tue, 10 Oct 2023NZ$35.6bNZ$12.1bNZ$723.2m41.8x49.2x2.9x
Thu, 07 Sep 2023NZ$36.5bNZ$12.1bNZ$723.2m43.3x50.5x3x
Sat, 05 Aug 2023NZ$39.4bNZ$12.9bNZ$1.3b28.4x29.3x3.1x
Mon, 03 Jul 2023NZ$47.6bNZ$14.7bNZ$1.7b27.4x28.7x3.2x
Wed, 31 May 2023NZ$44.6bNZ$14.7bNZ$1.7b25.5x26.9x3x
Fri, 28 Apr 2023NZ$43.4bNZ$13.8bNZ$1.4b30.1x31.6x3.1x
Sun, 26 Mar 2023NZ$41.8bNZ$13.8bNZ$1.4b29.5x30.4x3x
Tue, 21 Feb 2023NZ$44.1bNZ$13.7bNZ$1.5b27.9x29.9x3.2x
Thu, 19 Jan 2023NZ$43.1bNZ$13.9bNZ$1.6b28.9x26.7x3.1x
Sat, 17 Dec 2022NZ$42.2bNZ$13.9bNZ$1.6b28.1x26.1x3x
Mon, 14 Nov 2022NZ$39.9bNZ$13.6bNZ$1.6b26.4x25.5x2.9x
Wed, 12 Oct 2022NZ$39.8bNZ$13.6bNZ$1.6b21.2x24.3x2.9x
Fri, 09 Sep 2022NZ$43.8bNZ$13.6bNZ$1.6b23.2x26.7x3.2x
Sun, 07 Aug 2022NZ$44.6bNZ$14.5bNZ$1.5b23.8x30.7x3.1x
Tue, 05 Jul 2022NZ$39.9bNZ$14.5bNZ$1.5b21.7x27.5x2.7x
Thu, 02 Jun 2022NZ$40.7bNZ$14.5bNZ$1.5b22.6x28x2.8x
Sat, 30 Apr 2022NZ$42.8bNZ$15.7bNZ$1.4b21.4x30.8x2.7x
Mon, 28 Mar 2022NZ$42.3bNZ$15.7bNZ$1.4b19.7x30.4x2.7x
Wed, 23 Feb 2022NZ$42.3bNZ$15.7bNZ$1.4b18.9x29.7x2.7x
Price to Earnings Ratio

29.7x


Total Market Cap: NZ$42.3bTotal Earnings: NZ$1.4bTotal Revenue: NZ$15.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Utilities Sector Price to Earnings3Y Average 38.9x202320242025
Current Industry PE
  • Investors are pessimistic on the New Zealander Utilities 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 35.8x which is lower than its 3-year average PE of 38.9x.
  • The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Utilities industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

NZ Market0.78%
Utilities1.67%
Renewable Energy2.36%
Other Utilities1.54%
Electric Utilities1.17%
Gas Utilities0%0
Water Utilities0%0
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 35.4x.
    • Analysts are expecting annual earnings growth of 17.5%, which is higher than its past year's earnings decline of 23.0% per year.
  • Investors are most pessimistic about the Electric Utilities industry, which is trading close to its 3-year average of 32.5x.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 23% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow 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
MEL Meridian EnergyNZ$6.052.4%
+NZ$364.9m		5.8%PE36.8x
MCY Mercury NZNZ$6.431.1%
+NZ$98.0m		-5.2%PE31x
CEN Contact EnergyNZ$9.390.9%
+NZ$63.8m		15.6%PE31.9x
VCT VectorNZ$3.961.5%
+NZ$60.0m		3.1%PE51.1x
GNE Genesis EnergyNZ$2.332.0%
+NZ$49.1m		-9.3%PE19.4x
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Latest News

MEL

NZ$6.05

Meridian Energy

7D

2.4%

1Y

5.8%

Are Investors Undervaluing Meridian Energy Limited (NZSE:MEL) By 49%?

Feb 12
Are Investors Undervaluing Meridian Energy Limited (NZSE:MEL) By 49%?

VCT

NZ$3.96

Vector

7D

1.5%

1Y

3.1%

CEN

NZ$9.39

Contact Energy

7D

0.9%

1Y

15.6%

MCY

NZ$6.43

Mercury NZ

7D

1.1%

1Y

-5.2%

GNE

NZ$2.33

Genesis Energy

7D

2.0%

1Y

-9.3%

NWF

NZ$0.13

NZ Windfarms

7D

-0.8%

1Y

-8.1%

MNW

NZ$5.30

Manawa Energy

7D

1.7%

1Y

28.6%