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New Zealand (NZX) Market Analysis & Valuation

UpdatedMay 01, 2025
DataAggregated Company Financials
Companies107
  • 7D-0.4%
  • 3M-8.2%
  • 1Y-1.9%
  • YTD-8.6%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector gained 5.6% in that time. As for the longer term, the market has also been flat over the past year. Looking forward, 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
Fri, 02 May 2025NZ$158.4bNZ$115.3bNZ$2.6b18.3x60.4x1.4x
Sun, 30 Mar 2025NZ$162.9bNZ$115.6bNZ$2.6b18.2x62x1.4x
Tue, 25 Feb 2025NZ$166.7bNZ$113.6bNZ$3.0b20.6x56.5x1.5x
Thu, 23 Jan 2025NZ$171.5bNZ$113.6bNZ$3.1b20x54.6x1.5x
Sat, 21 Dec 2024NZ$167.4bNZ$113.7bNZ$3.1b19.6x53.4x1.5x
Mon, 18 Nov 2024NZ$169.3bNZ$113.5bNZ$3.1b19.3x54x1.5x
Wed, 16 Oct 2024NZ$170.1bNZ$112.8bNZ$4.3b19.2x39.7x1.5x
Fri, 13 Sep 2024NZ$166.8bNZ$113.0bNZ$4.6b19.5x36.5x1.5x
Sun, 11 Aug 2024NZ$160.9bNZ$110.7bNZ$4.8b17.8x33.7x1.5x
Tue, 09 Jul 2024NZ$155.3bNZ$110.8bNZ$4.7b15.4x33.2x1.4x
Thu, 06 Jun 2024NZ$157.6bNZ$109.4bNZ$4.5b15.2x34.8x1.4x
Sat, 04 May 2024NZ$156.3bNZ$110.1bNZ$5.8b16.3x26.8x1.4x
Mon, 01 Apr 2024NZ$158.5bNZ$110.0bNZ$5.9b17.2x26.9x1.4x
Wed, 28 Feb 2024NZ$156.0bNZ$111.1bNZ$6.4b16x24.5x1.4x
Fri, 26 Jan 2024NZ$158.1bNZ$109.3bNZ$6.6b15.7x23.8x1.4x
Sun, 24 Dec 2023NZ$155.6bNZ$109.3bNZ$6.6b15.4x23.4x1.4x
Tue, 21 Nov 2023NZ$150.0bNZ$109.1bNZ$6.8b15.8x22.1x1.4x
Thu, 19 Oct 2023NZ$151.0bNZ$109.2bNZ$5.8b15.8x25.9x1.4x
Sat, 16 Sep 2023NZ$153.0bNZ$110.7bNZ$5.9b15.9x25.9x1.4x
Mon, 14 Aug 2023NZ$162.5bNZ$108.4bNZ$6.4b16.7x25.5x1.5x
Wed, 12 Jul 2023NZ$163.5bNZ$108.2bNZ$6.6b17x24.7x1.5x
Fri, 09 Jun 2023NZ$159.2bNZ$108.0bNZ$6.2b16.4x25.6x1.5x
Sun, 07 May 2023NZ$162.7bNZ$107.3bNZ$7.6b15.3x21.4x1.5x
Tue, 04 Apr 2023NZ$162.1bNZ$107.3bNZ$7.6b15.6x21.4x1.5x
Thu, 02 Mar 2023NZ$163.5bNZ$104.8bNZ$7.4b16.3x22.2x1.6x
Sat, 28 Jan 2023NZ$165.1bNZ$100.4bNZ$6.6b16.4x25x1.6x
Mon, 26 Dec 2022NZ$158.0bNZ$100.1bNZ$6.6b16.1x23.9x1.6x
Wed, 23 Nov 2022NZ$158.0bNZ$100.3bNZ$7.3b16.1x21.7x1.6x
Fri, 21 Oct 2022NZ$150.9bNZ$99.5bNZ$7.9b16.9x19.2x1.5x
Sun, 18 Sep 2022NZ$162.1bNZ$98.1bNZ$7.7b17.5x21x1.7x
Tue, 16 Aug 2022NZ$166.8bNZ$96.3bNZ$8.2b19.5x20.2x1.7x
Thu, 14 Jul 2022NZ$157.8bNZ$96.4bNZ$8.4b18.5x18.9x1.6x
Sat, 11 Jun 2022NZ$160.4bNZ$100.6bNZ$8.6b17.9x18.7x1.6x
Mon, 09 May 2022NZ$164.5bNZ$100.6bNZ$8.7b17.6x18.8x1.6x
Price to Earnings Ratio

18.8x


Total Market Cap: NZ$164.5bTotal Earnings: NZ$8.7bTotal Revenue: NZ$100.6bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 30.5x202320242025
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 60.4x which is higher than its 3-year average PE of 30.4x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 33% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.6% 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-0.42%
Tech5.55%
Telecom1.46%
Consumer Discretionary1.34%
Financials0.71%
Healthcare0.71%
Real Estate0.19%
Energy0%0
Consumer Staples-0.65%
Utilities-0.79%
Industrials-2.84%
Materials-3.35%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 39.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.3% which is higher than its past year's earnings decline of 35.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 85% over the next 5 years.
  • In contrast, the Energy sector is expected to see its earnings grow by 14% 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
FPH Fisher & Paykel HealthcareNZ$34.833.8%
+NZ$750.4m		23.9%PE114.4xHealthcare
IFT InfratilNZ$10.925.1%
+NZ$513.1m		-0.5%PS2.9xFinancials
CEN Contact EnergyNZ$9.151.8%
+NZ$128.5m		5.4%PE32.8xUtilities
ATM a2 MilkNZ$9.051.8%
+NZ$115.8m		39.0%PE37.6xConsumer Staples
EBO EBOS GroupNZ$37.081.6%
+NZ$114.9m		4.0%PE28.1xHealthcare
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IFT

NZ$10.92

Infratil

7D

5.1%

1Y

-0.5%

EBO

NZ$37.08

EBOS Group

7D

1.6%

1Y

4.0%

EBOS Group Limited's (NZSE:EBO) Popularity With Investors Is Under Threat From Overpricing

Apr 29
EBOS Group Limited's (NZSE:EBO) Popularity With Investors Is Under Threat From Overpricing

CNU

NZ$8.11

Chorus

7D

3.3%

1Y

11.9%

Returns On Capital At Chorus (NZSE:CNU) Have Stalled

Apr 29
Returns On Capital At Chorus (NZSE:CNU) Have Stalled

DGL

NZ$3.80

Delegat Group

7D

-7.3%

1Y

-37.7%

FCG

NZ$4.53

Fonterra Co-operative Group

7D

-1.1%

1Y

84.1%

Investors Will Want Fonterra Co-operative Group's (NZSE:FCG) Growth In ROCE To Persist

Apr 28
Investors Will Want Fonterra Co-operative Group's (NZSE:FCG) Growth In ROCE To Persist

GTK

NZ$11.94

Gentrack Group

7D

8.5%

1Y

47.4%

Gentrack Group Limited's (NZSE:GTK) Intrinsic Value Is Potentially 24% Below Its Share Price

Apr 28
Gentrack Group Limited's (NZSE:GTK) Intrinsic Value Is Potentially 24% Below Its Share Price

CEN

NZ$9.15

Contact Energy

7D

1.8%

1Y

5.4%

Is Contact Energy (NZSE:CEN) A Risky Investment?

Apr 24
Is Contact Energy (NZSE:CEN) A Risky Investment?

ATM

NZ$9.05

a2 Milk

7D

1.8%

1Y

39.0%

Is The a2 Milk Company Limited (NZSE:ATM) Trading At A 38% Discount?

Apr 23
Is The a2 Milk Company Limited (NZSE:ATM) Trading At A 38% Discount?

RYM

NZ$2.27

Ryman Healthcare

7D

-2.2%

1Y

-43.5%

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MEL

NZ$5.63

Meridian Energy

7D

-0.9%

1Y

-6.3%

POT

NZ$6.14

Port of Tauranga

7D

-1.9%

1Y

25.6%

We Think Port of Tauranga (NZSE:POT) Can Stay On Top Of Its Debt

Apr 17
We Think Port of Tauranga (NZSE:POT) Can Stay On Top Of Its Debt

MFT

NZ$55.17

Mainfreight

7D

-4.4%

1Y

-20.6%

Subdued Growth No Barrier To Mainfreight Limited's (NZSE:MFT) Price

Apr 13
Subdued Growth No Barrier To Mainfreight Limited's (NZSE:MFT) Price

SUM

NZ$10.70

Summerset Group Holdings

7D

-2.7%

1Y

0.9%

FPH

NZ$34.83

Fisher & Paykel Healthcare

7D

3.8%

1Y

23.9%

Unpleasant Surprises Could Be In Store For Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Shares

Mar 25
Unpleasant Surprises Could Be In Store For Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Shares

VCT

NZ$4.09

Vector

7D

2.3%

1Y

9.7%

Is Vector (NZSE:VCT) A Risky Investment?

Mar 21
Is Vector (NZSE:VCT) A Risky Investment?

AIA

NZ$7.59

Auckland International Airport

7D

-5.1%

1Y

-1.9%

Does Auckland International Airport (NZSE:AIA) Have A Healthy Balance Sheet?

Mar 20
Does Auckland International Airport (NZSE:AIA) Have A Healthy Balance Sheet?