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New Zealand (NZX) Market Analysis & Valuation

UpdatedAug 28, 2025
DataAggregated Company Financials
Companies105
  • 7D-0.8%
  • 3M5.1%
  • 1Y2.2%
  • YTD-0.7%

Over the last 7 days, the market has remained flat, although notably the Consumer Staples sector gained 13% in that time. In line with that, the market has also been flat over the past year. Earnings are forecast to grow by 23% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 Aug 2025NZ$172.2bNZ$115.5bNZ$3.5b17.6x49.5x1.5x
Sat, 26 Jul 2025NZ$170.9bNZ$115.7bNZ$3.5b19.3x49.2x1.5x
Mon, 23 Jun 2025NZ$167.9bNZ$116.1bNZ$3.5b19.5x48.5x1.4x
Wed, 21 May 2025NZ$168.9bNZ$115.3bNZ$2.7b18.9x63.5x1.5x
Fri, 18 Apr 2025NZ$161.0bNZ$115.2bNZ$2.6b18.8x61.4x1.4x
Sun, 16 Mar 2025NZ$162.9bNZ$113.9bNZ$2.6b19.3x63.6x1.4x
Tue, 11 Feb 2025NZ$170.4bNZ$113.7bNZ$3.2b20x54x1.5x
Thu, 09 Jan 2025NZ$170.7bNZ$113.6bNZ$3.1b19.9x54.4x1.5x
Sat, 07 Dec 2024NZ$169.8bNZ$113.5bNZ$3.1b20x54.2x1.5x
Mon, 04 Nov 2024NZ$167.4bNZ$112.8bNZ$4.3b19.5x39.1x1.5x
Wed, 02 Oct 2024NZ$164.0bNZ$112.7bNZ$4.3b19.4x38.3x1.5x
Fri, 30 Aug 2024NZ$162.6bNZ$112.9bNZ$4.6b20.2x35.3x1.4x
Sun, 28 Jul 2024NZ$162.8bNZ$110.9bNZ$4.7b17.4x34.9x1.5x
Tue, 25 Jun 2024NZ$153.6bNZ$109.5bNZ$4.3b14.5x35.6x1.4x
Thu, 23 May 2024NZ$154.6bNZ$110.9bNZ$5.2b15.7x29.5x1.4x
Sat, 20 Apr 2024NZ$155.3bNZ$110.0bNZ$5.8b16.6x26.7x1.4x
Mon, 18 Mar 2024NZ$155.2bNZ$111.2bNZ$5.7b16.6x27x1.4x
Wed, 14 Feb 2024NZ$156.6bNZ$109.2bNZ$6.6b14x23.6x1.4x
Fri, 12 Jan 2024NZ$158.3bNZ$109.3bNZ$6.6b16.1x23.8x1.4x
Sun, 10 Dec 2023NZ$153.4bNZ$109.3bNZ$6.6b15.5x23.1x1.4x
Tue, 07 Nov 2023NZ$150.6bNZ$109.3bNZ$5.8b16.4x25.8x1.4x
Thu, 05 Oct 2023NZ$151.8bNZ$109.0bNZ$5.8b16.2x26.1x1.4x
Sat, 02 Sep 2023NZ$157.1bNZ$110.7bNZ$5.9b16.4x26.6x1.4x
Mon, 31 Jul 2023NZ$164.0bNZ$108.3bNZ$6.6b16.7x24.7x1.5x
Wed, 28 Jun 2023NZ$160.2bNZ$108.3bNZ$6.6b15.8x24.2x1.5x
Fri, 26 May 2023NZ$162.4bNZ$107.2bNZ$7.3b15.7x22.3x1.5x
Sun, 23 Apr 2023NZ$162.7bNZ$107.5bNZ$7.6b15.6x21.4x1.5x
Tue, 21 Mar 2023NZ$147.4bNZ$102.3bNZ$7.0b16x21x1.4x
Thu, 16 Feb 2023NZ$165.9bNZ$100.7bNZ$6.4b17.4x25.7x1.6x
Sat, 14 Jan 2023NZ$160.8bNZ$100.4bNZ$6.6b15.8x24.3x1.6x
Mon, 12 Dec 2022NZ$159.1bNZ$100.1bNZ$6.6b16.3x24.1x1.6x
Wed, 09 Nov 2022NZ$156.2bNZ$99.4bNZ$7.9b16.7x19.8x1.6x
Fri, 07 Oct 2022NZ$155.5bNZ$99.9bNZ$7.9b17.5x19.8x1.6x
Sun, 04 Sep 2022NZ$163.4bNZ$98.0bNZ$7.7b17.8x21.1x1.7x
Price to Earnings Ratio

21.1x


Total Market Cap: NZ$163.4bTotal Earnings: NZ$7.7bTotal Revenue: NZ$98.0bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 34x202320242025
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 49.5x which is higher than its 3-year average PE of 34.0x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 23% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.6% 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-0.75%
Consumer Staples12.76%
Energy4.15%
Telecom0.83%
Real Estate-0.40%
Industrials-0.75%
Tech-0.83%
Financials-1.55%
Utilities-2.81%
Consumer Discretionary-4.46%
Healthcare-4.98%
Materials-7.33%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 43.0x.
    • Analysts are expecting annual earnings growth of 23.0%, which is lower than the prior year's growth of 34.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 100% over the next 5 years.
  • In contrast, the Industrials sector is expected to see its earnings grow by 13% 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
FCG Fonterra Co-operative GroupNZ$5.8516.5%
+NZ$1.3b		69.6%PE8xConsumer Staples
ATM a2 MilkNZ$10.6610.1%
+NZ$724.5m		74.2%PE38.1xConsumer Staples
CNU ChorusNZ$9.813.9%
+NZ$160.5m		14.2%PE1064.1xTelecom
VCT VectorNZ$4.572.5%
+NZ$110.0m		17.8%PE29.5xUtilities
SML Synlait MilkNZ$0.7923.4%
+NZ$90.5m		110.7%PS0.3xConsumer Staples
See more

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CHI
NZ$2.37
Channel Infrastructure NZ
7D
10.2%
1Y
40.2%
EBO
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7D
-21.1%
1Y
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CNU
NZ$9.81
Chorus
7D
3.9%
1Y
14.2%
VCT
NZ$4.57
Vector
7D
2.5%
1Y
17.8%
MEL
NZ$5.61
Meridian Energy
7D
0.3%
1Y
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MCY
NZ$6.50
Mercury NZ
7D
-3.0%
1Y
2.8%
CEN
NZ$8.93
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7D
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1Y
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ATM
NZ$10.66
a2 Milk
7D
10.1%
1Y
74.2%
AIA
NZ$7.60
Auckland International Airport
7D
-2.0%
1Y
2.1%
FPH
NZ$36.75
Fisher & Paykel Healthcare
7D
-4.4%
1Y
4.4%
FCG
NZ$5.85
Fonterra Co-operative Group
7D
16.5%
1Y
69.6%
FBU
NZ$3.09
Fletcher Building
7D
2.0%
1Y
7.7%
SML
NZ$0.79
Synlait Milk
7D
23.4%
1Y
110.7%
MFT
NZ$59.49
Mainfreight
7D
-2.5%
1Y
-18.3%
RYM
NZ$2.37
Ryman Healthcare
7D
-5.2%
1Y
-50.9%
IFT
NZ$11.58
Infratil
7D
-3.9%
1Y
7.0%