Why Investors Shouldn't Be Surprised By Mainfreight Limited's (NZSE:MFT) P/E
Jan 01
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New Zealand (NZX) Market Analysis & Valuation
UpdatedJan 06, 2025
DataAggregated Company Financials
Companies111
- 7D-1.0%
- 3M3.2%
- 1Y5.7%
- YTD0%
Over the past 7 days, the market has dropped 1.0% with the Healthcare sector contributing the most to the decline. In the last year, the market is actually up 5.7%. Earnings are forecast to grow by 24% annually.
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 |
|---|---|---|---|---|---|---|
| Mon, 06 Jan 2025 | NZ$171.1b | NZ$113.7b | NZ$3.1b | 20.2x | 54.6x | 1.5x |
| Wed, 04 Dec 2024 | NZ$173.0b | NZ$113.6b | NZ$3.1b | 19.9x | 55.1x | 1.5x |
| Fri, 01 Nov 2024 | NZ$169.3b | NZ$112.8b | NZ$4.3b | 19.5x | 39.5x | 1.5x |
| Sun, 29 Sep 2024 | NZ$164.4b | NZ$112.3b | NZ$4.4b | 19.1x | 37.5x | 1.5x |
| Tue, 27 Aug 2024 | NZ$165.6b | NZ$112.0b | NZ$4.4b | 20.4x | 37.8x | 1.5x |
| Thu, 25 Jul 2024 | NZ$164.7b | NZ$110.9b | NZ$4.7b | 17.4x | 35.3x | 1.5x |
| Sat, 22 Jun 2024 | NZ$154.3b | NZ$109.5b | NZ$4.3b | 14.8x | 35.8x | 1.4x |
| Mon, 20 May 2024 | NZ$154.0b | NZ$110.0b | NZ$5.9b | 15.4x | 25.9x | 1.4x |
| Wed, 17 Apr 2024 | NZ$156.0b | NZ$110.0b | NZ$5.8b | 16.6x | 26.8x | 1.4x |
| Fri, 15 Mar 2024 | NZ$155.9b | NZ$111.2b | NZ$5.7b | 16.9x | 27.1x | 1.4x |
| Sun, 11 Feb 2024 | NZ$157.9b | NZ$109.1b | NZ$6.6b | 14.1x | 23.8x | 1.4x |
| Tue, 09 Jan 2024 | NZ$157.5b | NZ$109.3b | NZ$6.6b | 16.3x | 23.7x | 1.4x |
| Thu, 07 Dec 2023 | NZ$151.7b | NZ$109.2b | NZ$6.6b | 15.5x | 22.8x | 1.4x |
| Sat, 04 Nov 2023 | NZ$149.0b | NZ$109.3b | NZ$5.8b | 16.4x | 25.6x | 1.4x |
| Mon, 02 Oct 2023 | NZ$152.2b | NZ$110.2b | NZ$5.9b | 16.7x | 26x | 1.4x |
| Wed, 30 Aug 2023 | NZ$157.3b | NZ$110.6b | NZ$5.9b | 16.8x | 26.6x | 1.4x |
| Fri, 28 Jul 2023 | NZ$164.0b | NZ$108.3b | NZ$6.6b | 16.8x | 24.7x | 1.5x |
| Sun, 25 Jun 2023 | NZ$161.5b | NZ$108.4b | NZ$6.6b | 16.1x | 24.4x | 1.5x |
| Tue, 23 May 2023 | NZ$163.7b | NZ$107.0b | NZ$7.4b | 15.5x | 22x | 1.5x |
| Thu, 20 Apr 2023 | NZ$162.4b | NZ$107.4b | NZ$7.6b | 15.3x | 21.4x | 1.5x |
| Sat, 18 Mar 2023 | NZ$161.1b | NZ$107.0b | NZ$7.5b | 16.1x | 21.4x | 1.5x |
| Mon, 13 Feb 2023 | NZ$166.9b | NZ$100.5b | NZ$6.6b | 17.1x | 25.2x | 1.7x |
| Wed, 11 Jan 2023 | NZ$159.9b | NZ$100.3b | NZ$6.6b | 15.8x | 24.2x | 1.6x |
| Fri, 09 Dec 2022 | NZ$159.5b | NZ$100.0b | NZ$6.6b | 16.3x | 24.1x | 1.6x |
| Sun, 06 Nov 2022 | NZ$156.3b | NZ$99.3b | NZ$7.9b | 16.7x | 19.9x | 1.6x |
| Tue, 04 Oct 2022 | NZ$153.5b | NZ$99.9b | NZ$7.9b | 17x | 19.5x | 1.5x |
| Thu, 01 Sep 2022 | NZ$163.0b | NZ$98.0b | NZ$7.7b | 17.9x | 21x | 1.7x |
| Sat, 30 Jul 2022 | NZ$162.6b | NZ$96.5b | NZ$8.3b | 19.3x | 19.5x | 1.7x |
| Mon, 27 Jun 2022 | NZ$153.5b | NZ$96.3b | NZ$8.4b | 17.7x | 18.4x | 1.6x |
| Wed, 25 May 2022 | NZ$161.0b | NZ$99.6b | NZ$8.7b | 16.9x | 18.5x | 1.6x |
| Fri, 22 Apr 2022 | NZ$169.6b | NZ$100.5b | NZ$8.7b | 18.1x | 19.4x | 1.7x |
| Sun, 20 Mar 2022 | NZ$172.7b | NZ$100.2b | NZ$8.8b | 16x | 19.6x | 1.7x |
| Tue, 15 Feb 2022 | NZ$171.5b | NZ$98.2b | NZ$8.9b | 18x | 19.2x | 1.7x |
| Thu, 13 Jan 2022 | NZ$182.1b | NZ$98.2b | NZ$9.0b | 16.3x | 20.3x | 1.9x |
Price to Earnings Ratio
20.3x
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 54.6x which is higher than its 3-year average PE of 26.3x.
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 | -1.02% | |
| Materials | 3.20% | |
| Tech | 0.57% | |
| Energy | 0% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Telecom | -0.023% | |
| Consumer Discretionary | -0.09% | |
| Consumer Staples | -0.22% | |
| Utilities | -0.95% | |
| Industrials | -1.15% | |
| Healthcare | -1.16% | |
| Real Estate | -1.72% | |
| Financials | -2.22% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 293x.
- 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 | |
|---|---|---|---|---|---|---|
| CEN Contact Energy | NZ$9.68 | 4.4% +NZ$327.2m | 20.4% | PE32.9x | Utilities | |
| MNW Manawa Energy | NZ$5.76 | 4.7% +NZ$81.4m | 35.2% | PS3.2x | Utilities | |
| MFT Mainfreight | NZ$73.49 | 0.7% +NZ$49.3m | 5.2% | PE37.2x | Industrials | |
| SPK Spark New Zealand | NZ$2.95 | 0.7% +NZ$36.9m | -42.8% | PE17.2x | Telecom | |
| RYM Ryman Healthcare | NZ$4.68 | 0.9% +NZ$27.4m | -18.9% | PS4.5x | Healthcare |
