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New Zealand (NZX) Market Analysis & Valuation

UpdatedJul 05, 2024
DataAggregated Company Financials
Companies113
  • 7D0.5%
  • 3M-2.3%
  • 1Y-6.3%
  • YTD-1.7%

The Information Technology sector gained 4.4% while the market remained flat over the last week. As for last year, the market is down 6.3%. Looking forward, earnings are forecast to grow by 18% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jul 2024NZ$155.3bNZ$109.6bNZ$4.3b15.3x36x1.4x
Sun, 02 Jun 2024NZ$156.4bNZ$110.7bNZ$5.3b14.9x29.5x1.4x
Tue, 30 Apr 2024NZ$155.9bNZ$110.1bNZ$5.8b16.9x26.8x1.4x
Thu, 28 Mar 2024NZ$156.9bNZ$109.9bNZ$5.9b17x26.6x1.4x
Sat, 24 Feb 2024NZ$156.2bNZ$111.0bNZ$6.5b16x24.2x1.4x
Mon, 22 Jan 2024NZ$156.0bNZ$109.3bNZ$6.7b15.7x23.5x1.4x
Wed, 20 Dec 2023NZ$154.7bNZ$109.3bNZ$6.6b15.7x23.3x1.4x
Fri, 17 Nov 2023NZ$151.8bNZ$108.6bNZ$5.6b16.5x27x1.4x
Sun, 15 Oct 2023NZ$151.7bNZ$109.0bNZ$5.8b16.2x26x1.4x
Tue, 12 Sep 2023NZ$153.2bNZ$110.7bNZ$5.9b16.6x25.9x1.4x
Thu, 10 Aug 2023NZ$162.4bNZ$108.3bNZ$6.6b17.3x24.7x1.5x
Sat, 08 Jul 2023NZ$164.7bNZ$108.2bNZ$6.6b16.9x24.9x1.5x
Mon, 05 Jun 2023NZ$161.7bNZ$107.9bNZ$6.2b16.1x26.1x1.5x
Wed, 03 May 2023NZ$163.9bNZ$107.3bNZ$7.6b15.3x21.6x1.5x
Fri, 31 Mar 2023NZ$163.5bNZ$107.3bNZ$7.6b15.7x21.6x1.5x
Sun, 26 Feb 2023NZ$163.9bNZ$105.1bNZ$7.3b16.5x22.5x1.6x
Tue, 24 Jan 2023NZ$163.7bNZ$100.3bNZ$6.6b16.4x24.8x1.6x
Thu, 22 Dec 2022NZ$158.1bNZ$100.1bNZ$6.6b15.6x23.9x1.6x
Sat, 19 Nov 2022NZ$156.1bNZ$100.4bNZ$7.9b16.1x19.8x1.6x
Mon, 17 Oct 2022NZ$151.7bNZ$99.7bNZ$7.9b17.4x19.3x1.5x
Wed, 14 Sep 2022NZ$164.9bNZ$98.1bNZ$7.7b17.8x21.3x1.7x
Fri, 12 Aug 2022NZ$166.4bNZ$96.4bNZ$8.3b19x20x1.7x
Sun, 10 Jul 2022NZ$158.8bNZ$96.4bNZ$8.4b18.4x19x1.6x
Tue, 07 Jun 2022NZ$164.1bNZ$100.6bNZ$8.6b18.9x19.1x1.6x
Thu, 05 May 2022NZ$165.8bNZ$100.6bNZ$8.7b17x19x1.6x
Sat, 02 Apr 2022NZ$172.2bNZ$100.2bNZ$8.8b17.8x19.6x1.7x
Mon, 28 Feb 2022NZ$170.5bNZ$99.3bNZ$8.6b17.9x19.7x1.7x
Wed, 26 Jan 2022NZ$173.6bNZ$98.2bNZ$9.0b17.4x19.3x1.8x
Fri, 24 Dec 2021NZ$182.9bNZ$98.2bNZ$9.0b20.7x20.4x1.9x
Sun, 21 Nov 2021NZ$179.6bNZ$97.8bNZ$8.8b20.7x20.3x1.8x
Tue, 19 Oct 2021NZ$182.7bNZ$96.1bNZ$8.0b22.3x22.9x1.9x
Thu, 16 Sep 2021NZ$183.8bNZ$95.3bNZ$8.0b23.1x23x1.9x
Sat, 14 Aug 2021NZ$180.9bNZ$95.4bNZ$8.0b21.6x22.7x1.9x
Price to Earnings Ratio

22.6x


Total Market Cap: NZ$180.0bTotal Earnings: NZ$8.0bTotal Revenue: NZ$95.4bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 23x202220232024
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 36.0x which is higher than its 3-year average PE of 23.0x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 19% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.8% 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 Market0.50%
Tech4.44%
Materials1.99%
Utilities1.86%
Consumer Staples0.97%
Consumer Discretionary0.84%
Industrials0.53%
Telecom0.23%
Financials-0.24%
Real Estate-0.90%
Healthcare-1.17%
Energy-2.01%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 39.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.6% which is higher than its past year's earnings decline of 72.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 57% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.1% 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
MEL Meridian EnergyNZ$6.554.1%
+NZ$673.0m		17.0%PE199.5xUtilities
POT Port of TaurangaNZ$5.2511.2%
+NZ$360.5m		-16.5%PE35.1xIndustrials
MCY Mercury NZNZ$6.803.6%
+NZ$327.6m		3.3%PE249.5xUtilities
ATM a2 MilkNZ$7.353.5%
+NZ$180.7m		35.1%PE31.8xConsumer Staples
MFT MainfreightNZ$69.002.0%
+NZ$138.0m		-5.5%PE33.3xIndustrials
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WIN

NZ$1.82

Winton Land

7D

-8.1%

1Y

-7.1%

MFT

NZ$68.30

Mainfreight

7D

1.0%

1Y

-4.1%

MCY

NZ$6.80

Mercury NZ

7D

3.6%

1Y

3.8%

RYM

NZ$3.40

Ryman Healthcare

7D

-4.5%

1Y

-51.0%

ATM

NZ$7.32

a2 Milk

7D

3.1%

1Y

33.6%

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Jun 28
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MEL

NZ$6.44

Meridian Energy

7D

2.4%

1Y

16.0%

GMT

NZ$1.99

Goodman Property Trust

7D

-1.0%

1Y

-11.0%

ERD

NZ$1.30

EROAD

7D

28.7%

1Y

0%

AIA

NZ$7.67

Auckland International Airport

7D

0.5%

1Y

-8.7%

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FPH

NZ$29.80

Fisher & Paykel Healthcare

7D

-0.9%

1Y

21.6%

Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) Investors Are Less Pessimistic Than Expected

Jun 22
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IFT

NZ$11.05

Infratil

7D

-1.3%

1Y

8.4%

Some Shareholders Feeling Restless Over Infratil Limited's (NZSE:IFT) P/E Ratio

Jun 19
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EBO

NZ$31.96

EBOS Group

7D

-0.8%

1Y

-14.0%

Are Investors Undervaluing EBOS Group Limited (NZSE:EBO) By 29%?

Jun 11
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SPK

NZ$4.12

Spark New Zealand

7D

-1.1%

1Y

-18.2%

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Jun 07
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SCL

NZ$3.35

Scales

7D

-6.9%

1Y

0.9%

CNU

NZ$7.85

Chorus

7D

2.1%

1Y

-5.0%

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Jun 05
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POT

NZ$5.05

Port of Tauranga

7D

7.0%

1Y

-18.5%

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May 03
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