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New Zealand (NZX) Electric Utilities Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies3
  • 7D1.1%
  • 3M5.6%
  • 1Y7.6%
  • YTD3.3%

The Electric Utilities industry has stayed flat over the last week. As for the the longer term, the industry is up 7.8% over the past 12 months. Earnings are forecast to grow by 9.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jul 2026NZ$23.1bNZ$10.2bNZ$674.9m25.3x34.2x2.3x
Mon, 01 Jun 2026NZ$23.4bNZ$10.2bNZ$674.9m26x34.7x2.3x
Wed, 29 Apr 2026NZ$22.5bNZ$10.2bNZ$674.9m25.1x33.3x2.2x
Fri, 27 Mar 2026NZ$21.7bNZ$10.2bNZ$674.9m24.9x32.1x2.1x
Sun, 22 Feb 2026NZ$21.1bNZ$10.5bNZ$563.1m24.6x37.5x2x
Tue, 20 Jan 2026NZ$21.1bNZ$10.6bNZ$501.1m28.1x42.2x2x
Thu, 18 Dec 2025NZ$20.8bNZ$10.6bNZ$501.1m27.7x41.5x2x
Sat, 15 Nov 2025NZ$21.7bNZ$10.6bNZ$501.1m28.8x43.3x2x
Mon, 13 Oct 2025NZ$21.0bNZ$10.6bNZ$501.1m27.1x41.9x2x
Wed, 10 Sep 2025NZ$21.1bNZ$10.6bNZ$501.1m27.2x42.1x2x
Fri, 08 Aug 2025NZ$20.3bNZ$10.3bNZ$436.1m40x46.6x2x
Sun, 06 Jul 2025NZ$20.4bNZ$10.8bNZ$435.3m32.4x46.9x1.9x
Tue, 03 Jun 2025NZ$20.2bNZ$10.8bNZ$435.3m32.8x46.3x1.9x
Thu, 01 May 2025NZ$18.9bNZ$10.8bNZ$399.9m31.8x47.3x1.7x
Sat, 29 Mar 2025NZ$18.9bNZ$10.8bNZ$399.9m32.2x47.3x1.7x
Mon, 24 Feb 2025NZ$20.3bNZ$10.7bNZ$640.9m30.9x31.7x1.9x
Wed, 22 Jan 2025NZ$20.2bNZ$9.9bNZ$619.9m29.3x32.6x2x
Fri, 20 Dec 2024NZ$19.9bNZ$9.9bNZ$619.9m29x32.1x2x
Sun, 17 Nov 2024NZ$20.0bNZ$9.9bNZ$619.9m28.9x32.3x2x
Tue, 15 Oct 2024NZ$20.1bNZ$9.8bNZ$679.4m30.6x29.6x2x
Thu, 12 Sep 2024NZ$19.1bNZ$9.8bNZ$679.4m28.4x28.1x1.9x
Sat, 10 Aug 2024NZ$19.4bNZ$8.5bNZ$437.0m41x44.5x2.3x
Mon, 08 Jul 2024NZ$20.4bNZ$8.5bNZ$437.0m41.7x46.7x2.4x
Wed, 05 Jun 2024NZ$20.0bNZ$8.5bNZ$437.0m41.4x45.7x2.3x
Fri, 03 May 2024NZ$19.7bNZ$8.5bNZ$526.0m26x37.5x2.3x
Sun, 31 Mar 2024NZ$20.5bNZ$8.5bNZ$526.0m26.8x39x2.4x
Tue, 27 Feb 2024NZ$19.9bNZ$8.5bNZ$526.0m26.1x37.9x2.4x
Thu, 25 Jan 2024NZ$19.6bNZ$7.6bNZ$538.0m32.2x36.5x2.6x
Sat, 23 Dec 2023NZ$19.3bNZ$7.6bNZ$538.0m31.8x36x2.5x
Mon, 20 Nov 2023NZ$18.5bNZ$7.6bNZ$538.0m30.4x34.3x2.4x
Wed, 18 Oct 2023NZ$19.0bNZ$7.7bNZ$522.4m32.2x36.3x2.5x
Fri, 15 Sep 2023NZ$18.7bNZ$7.7bNZ$522.4m32.4x35.8x2.4x
Sun, 13 Aug 2023NZ$21.0bNZ$7.9bNZ$692.2m26.5x30.4x2.7x
Tue, 11 Jul 2023NZ$29.3bNZ$9.7bNZ$1.0b27.2x29.2x3x
Price to Earnings Ratio

29.2x


Total Market Cap: NZ$29.3bTotal Earnings: NZ$1.0bTotal Revenue: NZ$9.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Electric Utilities Industry Price to Earnings3Y Average 38.3x202420252026
Current Industry PE
    There are only 3 companies in the New Zealander Electric Utilities industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have declined 12% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 industry?

NZ Market0.46%
Utilities-0.36%
Electric Utilities1.13%
Electric Utilities1.13%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MCY Mercury NZNZ$6.842.1%
+NZ$199.5m		11.8%PE110.8x
CEN Contact EnergyNZ$9.270.3%
+NZ$32.1m		2.5%PE25.3x
GNE Genesis EnergyNZ$2.600.8%
+NZ$26.2m		12.1%PE17.5x

Latest News

MCY
NZ$6.84
Mercury NZ
7D
2.1%
1Y
11.8%
GNE
NZ$2.60
Genesis Energy
7D
0.8%
1Y
12.1%
Narrative Update • Jun 22

GNE: Future Returns Will Strain As Large Projects Meet Softer Margins

Analysts have increased their NZ$ fair value price target for Genesis Energy to NZ$2.18, citing recent valuation support and referencing broader sector peers that have seen upgrades on similar grounds. What’s in the News for Genesis Energy Genesis Energy reached Final Investment Decision on the second stage of its Battery Energy Storage System programme at Huntly Power Station, adding 100 MW / 200 MWh of capacity and taking total installed BESS capacity at the site to 200 MW / 400 MWh, with an estimated project cost of about NZ$106 million.
CEN
NZ$9.27
Contact Energy
7D
0.3%
1Y
2.5%
Narrative Update • Jun 22

CEN: Greener Generation Mix And Cost Efficiencies Are Expected To Support Returns

Analysts have slightly lowered their fair value estimate for Contact Energy from NZ$10.51 to NZ$10.44, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What’s in the News for Contact Energy Contact Energy reported a 47% reduction in generation costs in May 2026, supported by changes in its generation mix, according to recent news reports.