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New Zealand (NZX) Utilities Sector Analysis

UpdatedApr 14, 2025
DataAggregated Company Financials
Companies7
  • 7D0.1%
  • 3M-2.1%
  • 1Y-0.9%
  • YTD-2.0%

Last week, the Utilities industry hasn't moved much but Meridian Energy is up 5.8% in that time. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 15 Apr 2025NZ$38.6bNZ$17.1bNZ$700.0m27.8x55.2x2.3x
Thu, 13 Mar 2025NZ$37.7bNZ$17.1bNZ$700.0m27.6x53.8x2.2x
Sat, 08 Feb 2025NZ$39.8bNZ$15.9bNZ$1.1b33.8x35.3x2.5x
Mon, 06 Jan 2025NZ$39.3bNZ$15.9bNZ$1.1b34.3x34.9x2.5x
Wed, 04 Dec 2024NZ$40.9bNZ$15.9bNZ$1.1b34.9x36.3x2.6x
Fri, 01 Nov 2024NZ$39.5bNZ$15.8bNZ$1.2b36.2x33.3x2.5x
Sun, 29 Sep 2024NZ$38.5bNZ$15.8bNZ$1.2b36.3x32.4x2.4x
Tue, 27 Aug 2024NZ$39.9bNZ$14.9bNZ$823.1m42.2x48.5x2.7x
Thu, 25 Jul 2024NZ$40.9bNZ$13.6bNZ$580.7m56.3x70.4x3x
Sat, 22 Jun 2024NZ$39.6bNZ$13.6bNZ$580.7m56.7x68.2x2.9x
Mon, 20 May 2024NZ$39.2bNZ$13.6bNZ$669.6m40.1x58.6x2.9x
Wed, 17 Apr 2024NZ$38.6bNZ$13.6bNZ$669.6m41.4x57.6x2.8x
Fri, 15 Mar 2024NZ$38.7bNZ$13.6bNZ$669.6m42.7x57.8x2.9x
Sun, 11 Feb 2024NZ$38.4bNZ$12.1bNZ$738.8m42.5x52x3.2x
Tue, 09 Jan 2024NZ$38.1bNZ$12.1bNZ$738.8m42.3x51.5x3.2x
Thu, 07 Dec 2023NZ$35.8bNZ$12.1bNZ$738.8m40.8x48.4x3x
Sat, 04 Nov 2023NZ$35.1bNZ$12.1bNZ$723.2m41.1x48.5x2.9x
Mon, 02 Oct 2023NZ$36.1bNZ$12.1bNZ$723.2m42.7x49.9x3x
Wed, 30 Aug 2023NZ$37.3bNZ$12.1bNZ$731.1m36.1x51x3.1x
Fri, 28 Jul 2023NZ$47.1bNZ$14.7bNZ$1.7b26.9x28.5x3.2x
Sun, 25 Jun 2023NZ$46.4bNZ$14.7bNZ$1.7b26.3x28x3.2x
Tue, 23 May 2023NZ$44.9bNZ$14.0bNZ$1.7b24.7x27.1x3.2x
Thu, 20 Apr 2023NZ$43.1bNZ$13.8bNZ$1.4b29.9x31.3x3.1x
Sat, 18 Mar 2023NZ$42.9bNZ$13.8bNZ$1.4b29.7x31.2x3.1x
Mon, 13 Feb 2023NZ$44.3bNZ$13.9bNZ$1.6b29x27.4x3.2x
Wed, 11 Jan 2023NZ$42.6bNZ$13.9bNZ$1.6b28.5x26.3x3.1x
Fri, 09 Dec 2022NZ$41.5bNZ$13.9bNZ$1.6b27.5x25.7x3x
Sun, 06 Nov 2022NZ$41.1bNZ$13.6bNZ$1.6b21.7x25.1x3x
Tue, 04 Oct 2022NZ$40.9bNZ$13.6bNZ$1.6b21.5x25x3x
Thu, 01 Sep 2022NZ$43.4bNZ$13.6bNZ$1.6b23.2x26.5x3.2x
Sat, 30 Jul 2022NZ$43.0bNZ$14.5bNZ$1.5b23.5x29.6x3x
Mon, 27 Jun 2022NZ$39.4bNZ$14.5bNZ$1.5b22.1x27.1x2.7x
Wed, 25 May 2022NZ$40.5bNZ$14.5bNZ$1.5b22.6x27.9x2.8x
Fri, 22 Apr 2022NZ$42.6bNZ$15.7bNZ$1.4b20.8x30.7x2.7x
Price to Earnings Ratio

30.7x


Total Market Cap: NZ$42.6bTotal Earnings: NZ$1.4bTotal Revenue: NZ$15.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Utilities Sector Price to Earnings3Y Average 39.9x202320242025
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 55.2x which is higher than its 3-year average PE of 39.9x.
  • The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 20% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% 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-1.36%
Utilities0.14%
Other Utilities3.52%
Renewable Energy0.33%
Electric Utilities-0.70%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 86.3x.
    • Analysts are expecting annual earnings growth of 26.5%, which is lower than the prior year's growth of 37.6% per year.
  • Investors are most pessimistic about the Other Utilities industry, which is trading below its 3-year average of 35.9x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% over the next 5 years.
  • However this is lower than its past earnings growth rate of 38% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 9.3% 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$5.955.8%
+NZ$850.0m		2.7%PE132.9x
MCY Mercury NZNZ$5.884.4%
+NZ$344.7m		-10.3%PE168.7x
VCT VectorNZ$4.033.6%
+NZ$140.0m		7.8%PE22.8x
CEN Contact EnergyNZ$9.031.7%
+NZ$120.4m		7.4%PE32.4x
MNW Manawa EnergyNZ$4.721.9%
+NZ$28.2m		1.7%PS2.6x
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