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New Zealand (NZX) Market Analysis & Valuation

UpdatedNov 26, 2024
DataAggregated Company Financials
Companies112
  • 7D2.8%
  • 3M4.8%
  • 1Y12.7%
  • YTD7.6%

Over the last 7 days, the market has risen 2.8%, driven by gains in the Industrials and Healthcare sectors of 4.7% and 4.1%, respectively. Meanwhile, the Communication Services sector has underperformed, shrinking 3.0% in that time. The market is up 13% over the last 12 months. Earnings are forecast to grow by 25% annually.

Trending IndustriesSoftware

Market Valuation and Performance

Has the New Zealand Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 Nov 2024NZ$171.5bNZ$113.5bNZ$3.0b20.4x57.2x1.5x
Thu, 24 Oct 2024NZ$170.2bNZ$112.8bNZ$4.3b19.7x39.7x1.5x
Sat, 21 Sep 2024NZ$162.7bNZ$113.0bNZ$4.6b19x35.6x1.4x
Mon, 19 Aug 2024NZ$167.0bNZ$110.8bNZ$4.8b19.9x35.1x1.5x
Wed, 17 Jul 2024NZ$161.1bNZ$110.9bNZ$4.7b16.3x34.4x1.5x
Fri, 14 Jun 2024NZ$156.1bNZ$109.5bNZ$4.3b15.1x36.2x1.4x
Sun, 12 May 2024NZ$153.9bNZ$110.1bNZ$5.8b15.3x26.4x1.4x
Tue, 09 Apr 2024NZ$157.1bNZ$110.0bNZ$5.8b17.5x27x1.4x
Thu, 07 Mar 2024NZ$156.4bNZ$110.5bNZ$5.8b17.2x27.1x1.4x
Sat, 03 Feb 2024NZ$158.6bNZ$109.2bNZ$6.6b15.6x23.9x1.5x
Mon, 01 Jan 2024NZ$157.6bNZ$109.3bNZ$6.6b15.8x23.7x1.4x
Wed, 29 Nov 2023NZ$150.2bNZ$109.2bNZ$6.7b16.2x22.4x1.4x
Fri, 27 Oct 2023NZ$146.2bNZ$109.3bNZ$5.8b16.2x25.1x1.3x
Sun, 24 Sep 2023NZ$153.9bNZ$109.4bNZ$5.9b16x26.1x1.4x
Tue, 22 Aug 2023NZ$159.4bNZ$108.1bNZ$6.4b16.6x24.8x1.5x
Thu, 20 Jul 2023NZ$163.4bNZ$108.3bNZ$6.6b17.2x24.7x1.5x
Sat, 17 Jun 2023NZ$161.0bNZ$108.5bNZ$6.6b16x24.3x1.5x
Mon, 15 May 2023NZ$163.4bNZ$107.3bNZ$7.6b15.2x21.5x1.5x
Wed, 12 Apr 2023NZ$162.4bNZ$107.3bNZ$7.6b15.6x21.4x1.5x
Fri, 10 Mar 2023NZ$162.6bNZ$104.8bNZ$7.4b16.2x22.1x1.6x
Sun, 05 Feb 2023NZ$167.1bNZ$100.4bNZ$6.6b16.8x25.3x1.7x
Tue, 03 Jan 2023NZ$157.7bNZ$100.3bNZ$6.6b15.6x23.9x1.6x
Thu, 01 Dec 2022NZ$157.3bNZ$100.2bNZ$6.9b16.3x22.8x1.6x
Sat, 29 Oct 2022NZ$154.8bNZ$99.5bNZ$7.9b16.5x19.7x1.6x
Mon, 26 Sep 2022NZ$159.9bNZ$99.7bNZ$7.8b17.4x20.4x1.6x
Wed, 24 Aug 2022NZ$164.4bNZ$96.5bNZ$8.1b18.4x20.3x1.7x
Fri, 22 Jul 2022NZ$159.7bNZ$96.4bNZ$8.4b18.9x19.1x1.7x
Sun, 19 Jun 2022NZ$150.9bNZ$96.3bNZ$8.4b17.5x18.1x1.6x
Tue, 17 May 2022NZ$160.3bNZ$100.7bNZ$8.7b17.3x18.4x1.6x
Thu, 14 Apr 2022NZ$168.9bNZ$100.5bNZ$8.8b18.4x19.2x1.7x
Sat, 12 Mar 2022NZ$169.9bNZ$99.3bNZ$8.8b16.3x19.4x1.7x
Mon, 07 Feb 2022NZ$175.5bNZ$98.3bNZ$9.0b18.2x19.5x1.8x
Wed, 05 Jan 2022NZ$184.9bNZ$98.2bNZ$9.0b19.6x20.6x1.9x
Fri, 03 Dec 2021NZ$179.3bNZ$98.0bNZ$9.0b20.2x20x1.8x
Price to Earnings Ratio

20x


Total Market Cap: NZ$179.3bTotal Earnings: NZ$9.0bTotal Revenue: NZ$98.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 25x202220232024
Current Market PE
  • Investors are optimistic on the New Zealander market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 57.2x which is higher than its 3-year average PE of 25.0x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 31% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.0% 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.

Sector Trends

Which sectors have driven the changes within the New Zealand Market?

NZ Market2.83%
Industrials4.73%
Materials4.20%
Healthcare4.15%
Financials3.66%
Utilities2.80%
Consumer Discretionary2.61%
Consumer Staples1.97%
Tech1.08%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Real Estate-0.32%
Energy-0.56%
Telecom-3.01%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 155x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.4% which is higher than its past year's earnings decline of 5.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Financials sector, expecting annual earnings growth of 70% over the next 5 years.
  • This is better than its past earnings growth rate of 41% per year.
  • In contrast, the Utilities sector is expected to see its earnings grow by 8.5% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
AIA Auckland International AirportNZ$8.058.8%
+NZ$1.1b		1.8%PE2461.6xIndustrials
FPH Fisher & Paykel HealthcareNZ$39.214.3%
+NZ$955.4m		77.8%PE173.3xHealthcare
ATM a2 MilkNZ$6.2614.4%
+NZ$572.0m		46.9%PE27xConsumer Staples
IFT InfratilNZ$12.904.5%
+NZ$531.6m		31.6%PS3.4xFinancials
MEL Meridian EnergyNZ$6.022.5%
+NZ$377.8m		15.5%PE36.6xUtilities
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MEL

NZ$6.02

Meridian Energy

7D

2.5%

1Y

15.5%

FRW

NZ$10.58

Freightways Group

7D

-0.6%

1Y

30.8%

SPK

NZ$2.98

Spark New Zealand

7D

-5.4%

1Y

-41.9%

Investors Aren't Buying Spark New Zealand Limited's (NZSE:SPK) Earnings

Nov 25
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VHP

NZ$1.91

Vital Healthcare Property Trust

7D

-3.1%

1Y

-9.7%

ATM

NZ$6.26

a2 Milk

7D

14.4%

1Y

46.9%

GNE

NZ$2.36

Genesis Energy

7D

14.0%

1Y

0%

Is Genesis Energy (NZSE:GNE) A Risky Investment?

Nov 20
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IFT

NZ$12.90

Infratil

7D

4.5%

1Y

31.6%

EBO

NZ$37.75

EBOS Group

7D

3.1%

1Y

7.9%

FCG

NZ$4.50

Fonterra Co-operative Group

7D

-4.3%

1Y

108.3%

GTK

NZ$10.14

Gentrack Group

7D

-3.8%

1Y

96.5%

SKT

NZ$2.48

SKY Network Television

7D

-2.7%

1Y

-10.8%

Here's Why SKY Network Television Limited's (NZSE:SKT) CEO Compensation Is The Least Of Shareholders' Concerns

Nov 07
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CEN

NZ$8.80

Contact Energy

7D

3.7%

1Y

14.3%

It May Be Possible That Contact Energy Limited's (NZSE:CEN) CEO Compensation Could Get Bumped Up

Nov 06
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FPH

NZ$39.21

Fisher & Paykel Healthcare

7D

4.3%

1Y

77.8%

The Returns On Capital At Fisher & Paykel Healthcare (NZSE:FPH) Don't Inspire Confidence

Oct 28
The Returns On Capital At Fisher & Paykel Healthcare (NZSE:FPH) Don't Inspire Confidence

WIN

NZ$2.04

Winton Land

7D

-2.4%

1Y

-15.4%

The Market Lifts Winton Land Limited (NZSE:WIN) Shares 25% But It Can Do More

Oct 15
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AIA

NZ$8.05

Auckland International Airport

7D

8.8%

1Y

1.8%

Shareholders May Be More Conservative With Auckland International Airport Limited's (NZSE:AIA) CEO Compensation For Now

Oct 10
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KPG

NZ$0.93

Kiwi Property Group

7D

-3.6%

1Y

8.2%