Investor Optimism Abounds Port of Tauranga Limited (NZSE:POT) But Growth Is Lacking
Dec 24
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New Zealand (NZX) Market Analysis & Valuation
UpdatedDec 26, 2024
DataAggregated Company Financials
Companies111
- 7D1.7%
- 3M4.3%
- 1Y6.7%
- YTD6.3%
Over the last 7 days, the market has risen 1.7%, driven by gains of 3.1% in the Utilities sector. In the last year, the market has climbed 6.7%. As for the next few years, earnings are expected to grow by 24% per annum.
Trending IndustriesSoftware
Market Valuation and Performance
Has the New Zealand Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 27 Dec 2024 | NZ$171.5b | NZ$113.6b | NZ$3.1b | 19.9x | 54.8x | 1.5x |
| Sun, 24 Nov 2024 | NZ$171.5b | NZ$113.5b | NZ$3.0b | 19.9x | 57.2x | 1.5x |
| Tue, 22 Oct 2024 | NZ$171.6b | NZ$112.8b | NZ$4.3b | 19.7x | 40x | 1.5x |
| Thu, 19 Sep 2024 | NZ$163.6b | NZ$113.0b | NZ$4.6b | 19.3x | 35.8x | 1.4x |
| Sat, 17 Aug 2024 | NZ$167.0b | NZ$110.8b | NZ$4.8b | 19.9x | 35.1x | 1.5x |
| Mon, 15 Jul 2024 | NZ$160.0b | NZ$110.9b | NZ$4.7b | 16.5x | 34.2x | 1.4x |
| Wed, 12 Jun 2024 | NZ$155.1b | NZ$109.5b | NZ$4.3b | 15x | 36x | 1.4x |
| Fri, 10 May 2024 | NZ$154.0b | NZ$110.1b | NZ$5.8b | 15.4x | 26.4x | 1.4x |
| Sun, 07 Apr 2024 | NZ$157.6b | NZ$110.0b | NZ$5.8b | 17.2x | 27.1x | 1.4x |
| Tue, 05 Mar 2024 | NZ$155.9b | NZ$111.2b | NZ$5.8b | 17.2x | 27.1x | 1.4x |
| Thu, 01 Feb 2024 | NZ$158.6b | NZ$109.3b | NZ$6.6b | 15.6x | 23.9x | 1.5x |
| Sat, 30 Dec 2023 | NZ$157.6b | NZ$109.3b | NZ$6.6b | 15.8x | 23.7x | 1.4x |
| Mon, 27 Nov 2023 | NZ$150.2b | NZ$109.1b | NZ$6.6b | 15.6x | 22.8x | 1.4x |
| Wed, 25 Oct 2023 | NZ$147.6b | NZ$109.3b | NZ$5.8b | 17x | 25.3x | 1.4x |
| Fri, 22 Sep 2023 | NZ$153.3b | NZ$110.6b | NZ$5.9b | 16.6x | 26x | 1.4x |
| Sun, 20 Aug 2023 | NZ$159.4b | NZ$108.1b | NZ$6.4b | 17.1x | 24.9x | 1.5x |
| Tue, 18 Jul 2023 | NZ$163.4b | NZ$108.2b | NZ$6.6b | 17x | 24.7x | 1.5x |
| Thu, 15 Jun 2023 | NZ$159.6b | NZ$108.0b | NZ$6.2b | 16x | 25.7x | 1.5x |
| Sat, 13 May 2023 | NZ$163.4b | NZ$107.3b | NZ$7.6b | 15.2x | 21.5x | 1.5x |
| Mon, 10 Apr 2023 | NZ$162.6b | NZ$107.2b | NZ$7.6b | 15.6x | 21.4x | 1.5x |
| Wed, 08 Mar 2023 | NZ$163.7b | NZ$105.0b | NZ$7.4b | 16.5x | 22.2x | 1.6x |
| Fri, 03 Feb 2023 | NZ$166.5b | NZ$100.4b | NZ$6.6b | 16.7x | 25.2x | 1.7x |
| Sun, 01 Jan 2023 | NZ$157.7b | NZ$100.2b | NZ$6.6b | 15.6x | 23.9x | 1.6x |
| Tue, 29 Nov 2022 | NZ$155.9b | NZ$100.4b | NZ$7.0b | 16.2x | 22.2x | 1.6x |
| Thu, 27 Oct 2022 | NZ$153.5b | NZ$99.6b | NZ$7.9b | 16.5x | 19.5x | 1.5x |
| Sat, 24 Sep 2022 | NZ$159.9b | NZ$99.7b | NZ$7.8b | 17.4x | 20.4x | 1.6x |
| Mon, 22 Aug 2022 | NZ$165.3b | NZ$96.5b | NZ$8.1b | 18.4x | 20.3x | 1.7x |
| Wed, 20 Jul 2022 | NZ$157.9b | NZ$96.4b | NZ$8.4b | 18.5x | 18.9x | 1.6x |
| Fri, 17 Jun 2022 | NZ$151.7b | NZ$96.5b | NZ$8.4b | 17.6x | 18.2x | 1.6x |
| Sun, 15 May 2022 | NZ$160.3b | NZ$100.7b | NZ$8.7b | 17.3x | 18.4x | 1.6x |
| Tue, 12 Apr 2022 | NZ$169.5b | NZ$100.5b | NZ$8.8b | 18.5x | 19.3x | 1.7x |
| Thu, 10 Mar 2022 | NZ$168.5b | NZ$99.3b | NZ$8.8b | 15.9x | 19.2x | 1.7x |
| Sat, 05 Feb 2022 | NZ$175.9b | NZ$98.3b | NZ$9.0b | 17.7x | 19.6x | 1.8x |
| Mon, 03 Jan 2022 | NZ$184.9b | NZ$98.2b | NZ$9.0b | 19.6x | 20.6x | 1.9x |
Price to Earnings Ratio
20.6x
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 54.8x which is higher than its 3-year average PE of 25.9x.
Past Earnings Growth
- The earnings for New Zealander listed companies have declined 30% 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 Market | 1.66% | |
| Utilities | 3.08% | |
| Real Estate | 2.25% | |
| Financials | 2.13% | |
| Healthcare | 1.64% | |
| Industrials | 1.34% | |
| Consumer Discretionary | 0.93% | |
| Tech | 0.57% | |
| Materials | 0.52% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Telecom | -0.069% | |
| Consumer Staples | -0.52% | |
| Energy | -1.06% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 256x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 23.1% which is higher than its past year's earnings decline of 6.6% 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 8.6% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| MEL Meridian Energy | NZ$5.97 | 5.7% +NZ$834.0m | 7.6% | PE36.3x | Utilities | |
| AIA Auckland International Airport | NZ$8.52 | 2.8% +NZ$395.2m | -0.8% | PE2605.3x | Industrials | |
| FPH Fisher & Paykel Healthcare | NZ$38.34 | 1.3% +NZ$287.2m | 64.1% | PE125.9x | Healthcare | |
| IFT Infratil | NZ$12.64 | 2.3% +NZ$270.6m | 25.3% | PS3.4x | Financials | |
| EBO EBOS Group | NZ$37.30 | 2.9% +NZ$204.4m | 5.1% | PE24.2x | Healthcare |
