Header cover image

New Zealand (NZX) Utilities Sector Analysis

UpdatedDec 08, 2023
DataAggregated Company Financials
  • 7D0.5%
  • 3M-0.6%
  • 1Y2.1%
  • YTD0.4%

In the last week, the Utilities industry is flat overall, with Manawa Energy standing out by going down 4.6%. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 Dec 2023NZ$36.3bNZ$12.1bNZ$738.8m41.3x49.2x3x
Mon, 06 Nov 2023NZ$35.1bNZ$12.1bNZ$723.2m41.1x48.5x2.9x
Wed, 04 Oct 2023NZ$36.2bNZ$12.1bNZ$723.2m42.6x50.1x3x
Fri, 01 Sep 2023NZ$37.3bNZ$12.1bNZ$723.2m44x51.5x3.1x
Sun, 30 Jul 2023NZ$47.3bNZ$14.7bNZ$1.7b27.1x28.6x3.2x
Tue, 27 Jun 2023NZ$46.0bNZ$14.7bNZ$1.7b26.3x27.8x3.1x
Thu, 25 May 2023NZ$44.9bNZ$14.0bNZ$1.7b25.4x27.1x3.2x
Sat, 22 Apr 2023NZ$43.1bNZ$13.8bNZ$1.4b30.2x31.4x3.1x
Mon, 20 Mar 2023NZ$42.9bNZ$13.8bNZ$1.4b29.7x31.2x3.1x
Wed, 15 Feb 2023NZ$44.1bNZ$13.7bNZ$1.5b28.9x29.9x3.2x
Fri, 13 Jan 2023NZ$42.5bNZ$13.9bNZ$1.6b28.3x26.3x3.1x
Sun, 11 Dec 2022NZ$41.7bNZ$13.9bNZ$1.6b27.2x25.8x3x
Tue, 08 Nov 2022NZ$41.1bNZ$13.6bNZ$1.6b21.7x25.1x3x
Thu, 06 Oct 2022NZ$41.0bNZ$13.6bNZ$1.6b21.7x25x3x
Sat, 03 Sep 2022NZ$43.7bNZ$13.6bNZ$1.6b23.1x26.7x3.2x
Mon, 01 Aug 2022NZ$43.0bNZ$14.5bNZ$1.5b23.5x29.6x3x
Wed, 29 Jun 2022NZ$40.5bNZ$14.5bNZ$1.5b22x27.9x2.8x
Fri, 27 May 2022NZ$40.7bNZ$14.5bNZ$1.5b22.6x28x2.8x
Sun, 24 Apr 2022NZ$42.4bNZ$15.7bNZ$1.4b20.6x30.5x2.7x
Tue, 22 Mar 2022NZ$42.1bNZ$15.7bNZ$1.4b19.5x30.3x2.7x
Thu, 17 Feb 2022NZ$41.4bNZ$15.8bNZ$1.1b56.1x36.8x2.6x
Sat, 15 Jan 2022NZ$42.1bNZ$15.8bNZ$1.1bn/a39.4x2.7x
Mon, 13 Dec 2021NZ$41.7bNZ$15.8bNZ$1.1b32.2x39x2.6x
Wed, 10 Nov 2021NZ$42.6bNZ$15.5bNZ$976.6mn/a43.6x2.7x
Fri, 08 Oct 2021NZ$43.4bNZ$15.4bNZ$896.3m61.2x48.4x2.8x
Sun, 05 Sep 2021NZ$44.7bNZ$15.4bNZ$896.3m64.5x49.9x2.9x
Tue, 03 Aug 2021NZ$44.7bNZ$15.4bNZ$896.3m66.1x49.9x2.9x
Fri, 07 May 2021NZ$44.7bNZ$14.4bNZ$814.7m47.6x54.9x3.1x
Mon, 08 Feb 2021NZ$50.3bNZ$13.4bNZ$1.1b40x44.7x3.7x
Price to Earnings Ratio


Total Market Cap: NZ$50.1bTotal Earnings: NZ$1.1bTotal Revenue: NZ$13.4bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Utilities Sector Price to Earnings3Y Average 37.4x20222023
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 49.2x which is higher than its 3-year average PE of 37.4x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 13% 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 Utilities sector?

NZ Market0.93%
Other Utilities2.18%
Electric Utilities0.78%
Gas Utilities0%
Water Utilities0%
Renewable Energy-0.28%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 46.6x.
    • Analysts are expecting annual earnings growth of 25.2%, which is higher than its past year's earnings decline of 78.9% per year.
  • Investors are most pessimistic about the Other Utilities 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 Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 79% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 12% 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$5.251.0%
GNE Genesis EnergyNZ$2.484.6%
VCT VectorNZ$3.802.7%
MCY Mercury NZNZ$6.321.0%
CEN Contact EnergyNZ$7.850.6%
Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.