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New Zealand (NZX) Utilities Sector Analysis

UpdatedNov 09, 2025
DataAggregated Company Financials
Companies5
  • 7D-0.3%
  • 3M5.0%
  • 1Y5.3%
  • YTD5.1%

In the last week, Utilities has been flat. The past year has been better, since the industry has gained 5.3% in that time. As for the next few years, earnings are expected to grow by 21% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Nov 2025NZ$41.7bNZ$16.5bNZ$203.8m30.1x204.7x2.5x
Tue, 07 Oct 2025NZ$41.5bNZ$16.5bNZ$203.8m29.6x203.9x2.5x
Thu, 04 Sep 2025NZ$40.9bNZ$16.5bNZ$203.8m28.5x200.6x2.5x
Sat, 02 Aug 2025NZ$39.6bNZ$16.5bNZ$730.2m40.1x54.3x2.4x
Mon, 30 Jun 2025NZ$39.7bNZ$17.0bNZ$735.4m28x54x2.3x
Wed, 28 May 2025NZ$39.5bNZ$17.0bNZ$735.4m27.9x53.7x2.3x
Fri, 25 Apr 2025NZ$38.2bNZ$17.1bNZ$700.0m27.4x54.6x2.2x
Sun, 23 Mar 2025NZ$36.4bNZ$17.1bNZ$700.0m26.5x52x2.1x
Tue, 18 Feb 2025NZ$40.5bNZ$16.3bNZ$1.1b34.7x36.3x2.5x
Thu, 16 Jan 2025NZ$39.2bNZ$15.9bNZ$1.1b33.8x34.8x2.5x
Sat, 14 Dec 2024NZ$38.1bNZ$15.9bNZ$1.1b32.7x33.8x2.4x
Mon, 11 Nov 2024NZ$39.3bNZ$15.9bNZ$1.1b33.9x34.9x2.5x
Wed, 09 Oct 2024NZ$38.9bNZ$15.8bNZ$1.2b36x32.8x2.5x
Fri, 06 Sep 2024NZ$39.4bNZ$15.8bNZ$1.2b37.3x33.2x2.5x
Sun, 04 Aug 2024NZ$40.7bNZ$13.6bNZ$580.7m55.8x70x3x
Tue, 02 Jul 2024NZ$41.0bNZ$13.6bNZ$580.7m54.5x70.6x3x
Thu, 30 May 2024NZ$39.2bNZ$13.6bNZ$580.7m54.4x67.5x2.9x
Sat, 27 Apr 2024NZ$38.6bNZ$13.6bNZ$669.6m41.1x57.6x2.8x
Mon, 25 Mar 2024NZ$39.3bNZ$13.6bNZ$669.6m42.4x58.7x2.9x
Wed, 21 Feb 2024NZ$38.1bNZ$12.4bNZ$898.8m28.4x42.4x3.1x
Fri, 19 Jan 2024NZ$37.6bNZ$12.1bNZ$738.8m41.7x50.9x3.1x
Sun, 17 Dec 2023NZ$37.0bNZ$12.1bNZ$738.8m41.7x50.1x3.1x
Tue, 14 Nov 2023NZ$34.9bNZ$12.1bNZ$738.8m40.5x47.3x2.9x
Thu, 12 Oct 2023NZ$36.2bNZ$12.1bNZ$723.2m42.1x50.1x3x
Sat, 09 Sep 2023NZ$36.3bNZ$12.1bNZ$723.2m42.7x50.2x3x
Mon, 07 Aug 2023NZ$39.4bNZ$12.9bNZ$1.3b28.4x29.3x3.1x
Wed, 05 Jul 2023NZ$47.7bNZ$14.7bNZ$1.7b27.5x28.8x3.2x
Fri, 02 Jun 2023NZ$45.0bNZ$14.7bNZ$1.7b25.4x27.2x3.1x
Sun, 30 Apr 2023NZ$44.4bNZ$13.8bNZ$1.4b30.2x32.3x3.2x
Tue, 28 Mar 2023NZ$41.7bNZ$13.8bNZ$1.4b28.9x30.3x3x
Thu, 23 Feb 2023NZ$42.8bNZ$14.2bNZ$1.3b30.8x34x3x
Sat, 21 Jan 2023NZ$43.3bNZ$13.9bNZ$1.6b29x26.8x3.1x
Mon, 19 Dec 2022NZ$42.4bNZ$13.9bNZ$1.6b28.1x26.2x3x
Wed, 16 Nov 2022NZ$39.9bNZ$13.6bNZ$1.6b26.7x25.5x2.9x
Price to Earnings Ratio

25.5x


Total Market Cap: NZ$39.9bTotal Earnings: NZ$1.6bTotal Revenue: NZ$13.6bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Utilities Sector Price to Earnings3Y Average 54.8x202320242025
Current Industry PE
  • Investors are optimistic on the New Zealander Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 205x which is higher than its 3-year average PE of 54.8x.
  • The industry is trading close to its 3-year average PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 49% per year over the last three years.
  • Meanwhile revenues for these companies have grown 6.8% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

NZ Market-0.012%
Utilities-0.35%
Electric Utilities1.12%
Renewable Energy-1.69%
Other Utilities-2.40%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 36.6x.
    • Analysts are expecting annual earnings growth of 9.2%, which is lower than the prior year's growth of 29.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 38% over the next 5 years.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 9.2% 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
CEN Contact EnergyNZ$9.522.1%
+NZ$198.9m		11.3%PE28.6x
MCY Mercury NZNZ$6.500.3%
+NZ$28.3m		-2.3%PE9213.1x
GNE Genesis EnergyNZ$2.520.4%
+NZ$11.1m		18.9%PE16.5x

Latest News

VCT
NZ$4.89
Vector
7D
-2.4%
1Y
27.7%

Vector Limited (NZSE:VCT) Shares Could Be 24% Below Their Intrinsic Value Estimate

Nov 04
Vector Limited (NZSE:VCT) Shares Could Be 24% Below Their Intrinsic Value Estimate
CEN
NZ$9.52
Contact Energy
7D
2.1%
1Y
11.3%
MEL
NZ$5.82
Meridian Energy
7D
-1.7%
1Y
-1.0%
GNE
NZ$2.52
Genesis Energy
7D
0.4%
1Y
18.9%
MCY
NZ$6.50
Mercury NZ
7D
0.3%
1Y
-2.3%

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Oct 03
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