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New Zealand (NZX) Market Analysis & Valuation

UpdatedNov 19, 2024
DataAggregated Company Financials
Companies113
  • 7D0.5%
  • 3M1.1%
  • 1Y9.7%
  • YTD4.9%

Over the last 7 days, the market has remained flat, although notably the Communication Services sector gained 3.5% in that time. More promisingly, the market is up 9.7% over the past year. Earnings are forecast to grow by 26% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Nov 2024NZ$170.1bNZ$113.5bNZ$3.1b19.6x54.3x1.5x
Thu, 17 Oct 2024NZ$167.9bNZ$112.8bNZ$4.3b19x39.1x1.5x
Sat, 14 Sep 2024NZ$167.1bNZ$112.9bNZ$4.6b19.4x36.6x1.5x
Mon, 12 Aug 2024NZ$160.9bNZ$110.7bNZ$4.8b17.8x33.7x1.5x
Wed, 10 Jul 2024NZ$156.6bNZ$110.8bNZ$4.7b15.5x33.4x1.4x
Fri, 07 Jun 2024NZ$157.3bNZ$109.4bNZ$4.5b15.4x34.7x1.4x
Sun, 05 May 2024NZ$156.3bNZ$110.1bNZ$5.8b16.3x26.8x1.4x
Tue, 02 Apr 2024NZ$158.5bNZ$110.0bNZ$5.9b17.2x26.9x1.4x
Thu, 29 Feb 2024NZ$155.9bNZ$111.1bNZ$6.5b17.4x23.9x1.4x
Sat, 27 Jan 2024NZ$158.3bNZ$109.3bNZ$6.6b15.8x23.8x1.4x
Mon, 25 Dec 2023NZ$155.6bNZ$109.3bNZ$6.6b15.4x23.4x1.4x
Wed, 22 Nov 2023NZ$149.9bNZ$109.1bNZ$6.8b15.8x22.1x1.4x
Fri, 20 Oct 2023NZ$150.0bNZ$109.2bNZ$5.8b15.8x25.7x1.4x
Sun, 17 Sep 2023NZ$153.6bNZ$110.7bNZ$5.9b16x26x1.4x
Tue, 15 Aug 2023NZ$162.3bNZ$108.4bNZ$6.4b16.7x25.4x1.5x
Thu, 13 Jul 2023NZ$163.4bNZ$108.3bNZ$6.6b16.9x24.7x1.5x
Sat, 10 Jun 2023NZ$158.8bNZ$108.0bNZ$6.2b16.1x25.6x1.5x
Mon, 08 May 2023NZ$162.7bNZ$107.3bNZ$7.6b15.3x21.4x1.5x
Wed, 05 Apr 2023NZ$163.0bNZ$107.3bNZ$7.6b15.6x21.5x1.5x
Fri, 03 Mar 2023NZ$163.5bNZ$104.7bNZ$7.4b16.2x22.2x1.6x
Sun, 29 Jan 2023NZ$165.0bNZ$100.4bNZ$6.6b16.4x25x1.6x
Tue, 27 Dec 2022NZ$158.0bNZ$100.2bNZ$6.6b16.1x23.9x1.6x
Thu, 24 Nov 2022NZ$157.3bNZ$100.3bNZ$7.3b15.9x21.6x1.6x
Sat, 22 Oct 2022NZ$150.3bNZ$99.5bNZ$7.9b16.7x19.1x1.5x
Mon, 19 Sep 2022NZ$162.1bNZ$98.1bNZ$7.7b17.5x21x1.7x
Wed, 17 Aug 2022NZ$167.4bNZ$96.2bNZ$8.2b19.2x20.5x1.7x
Fri, 15 Jul 2022NZ$158.9bNZ$96.3bNZ$8.4b18.7x19x1.6x
Sun, 12 Jun 2022NZ$160.4bNZ$100.6bNZ$8.6b17.9x18.7x1.6x
Tue, 10 May 2022NZ$163.4bNZ$100.6bNZ$8.7b17x18.7x1.6x
Thu, 07 Apr 2022NZ$171.5bNZ$100.5bNZ$8.8b18.1x19.5x1.7x
Sat, 05 Mar 2022NZ$174.2bNZ$99.3bNZ$8.8b16.5x19.9x1.8x
Mon, 31 Jan 2022NZ$169.3bNZ$98.3bNZ$9.0b17.9x18.9x1.7x
Wed, 29 Dec 2021NZ$183.0bNZ$98.2bNZ$9.0b18.7x20.4x1.9x
Fri, 26 Nov 2021NZ$180.0bNZ$97.9bNZ$8.9b18.3x20.2x1.8x
Price to Earnings Ratio

20.2x


Total Market Cap: NZ$180.0bTotal Earnings: NZ$8.9bTotal Revenue: NZ$97.9bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 24.8x202220232024
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 54.3x which is higher than its 3-year average PE of 24.8x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 29% 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 Market0.55%
Telecom3.52%
Energy2.29%
Consumer Staples2.17%
Financials1.05%
Industrials0.76%
Utilities0.41%
Consumer Discretionary0.26%
Real Estate0.0037%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Tech-0.017%
Healthcare-0.78%
Materials-6.27%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 119x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3% 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 37% 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
MCY Mercury NZNZ$6.882.1%
+NZ$195.9m		14.1%PE33.2xUtilities
AIA Auckland International AirportNZ$7.531.5%
+NZ$186.1m		-4.3%PE2302.6xIndustrials
MEL Meridian EnergyNZ$5.990.8%
+NZ$117.3m		19.6%PE36.4xUtilities
CEN Contact EnergyNZ$8.621.7%
+NZ$111.7m		12.7%PE29.3xUtilities
SPK Spark New ZealandNZ$3.091.8%
+NZ$101.4m		-39.1%PE18xTelecom
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ATM

NZ$5.43

a2 Milk

7D

2.5%

1Y

24.8%

IFT

NZ$12.19

Infratil

7D

-0.9%

1Y

23.7%

MFT

NZ$73.20

Mainfreight

7D

0.8%

1Y

12.3%

EBO

NZ$36.65

EBOS Group

7D

-2.5%

1Y

-5.1%

FCG

NZ$4.48

Fonterra Co-operative Group

7D

-9.1%

1Y

105.5%

GTK

NZ$10.17

Gentrack Group

7D

-3.3%

1Y

94.5%

FBU

NZ$3.15

Fletcher Building

7D

-0.9%

1Y

-29.4%

Fletcher Building Limited (NZSE:FBU) Investors Are Less Pessimistic Than Expected

Nov 11
Fletcher Building Limited (NZSE:FBU) Investors Are Less Pessimistic Than Expected

CEN

NZ$8.62

Contact Energy

7D

1.7%

1Y

12.7%

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

Nov 06
It May Be Possible That Contact Energy Limited's (NZSE:CEN) CEO Compensation Could Get Bumped Up

SPK

NZ$3.09

Spark New Zealand

7D

1.8%

1Y

-39.1%

CNU

NZ$8.98

Chorus

7D

1.8%

1Y

18.4%

Chorus Limited's (NZSE:CNU) Popularity With Investors Is Under Threat From Overpricing

Oct 31
Chorus Limited's (NZSE:CNU) Popularity With Investors Is Under Threat From Overpricing

MEL

NZ$5.99

Meridian Energy

7D

0.8%

1Y

19.6%

Analyst Forecasts Just Became More Bearish On Meridian Energy Limited (NZSE:MEL)

Oct 16
Analyst Forecasts Just Became More Bearish On Meridian Energy Limited (NZSE:MEL)

WIN

NZ$2.07

Winton Land

7D

-3.7%

1Y

-13.8%

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

Oct 15
The Market Lifts Winton Land Limited (NZSE:WIN) Shares 25% But It Can Do More

AIA

NZ$7.53

Auckland International Airport

7D

1.5%

1Y

-4.3%

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

Oct 10
Shareholders May Be More Conservative With Auckland International Airport Limited's (NZSE:AIA) CEO Compensation For Now

MCY

NZ$6.88

Mercury NZ

7D

2.1%

1Y

14.1%

Is Mercury NZ (NZSE:MCY) Using Too Much Debt?

Oct 04
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GNE

NZ$2.07

Genesis Energy

7D

-1.2%

1Y

-12.3%

KPG

NZ$0.95

Kiwi Property Group

7D

-2.1%

1Y

13.8%