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New Zealand (NZX) Market Analysis & Valuation

UpdatedMay 21, 2025
DataAggregated Company Financials
Companies107
  • 7D-0.6%
  • 3M-3.3%
  • 1Y5.7%
  • YTD-2.6%

The market has been flat in the last week, however the Information Technology sector is down 5.0%. Meanwhile, the market is actually up 5.7% 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
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
Tue, 02 Aug 2022NZ$163.2bNZ$96.5bNZ$8.3b19x19.6x1.7x
Thu, 30 Jun 2022NZ$155.7bNZ$96.4bNZ$8.4b17.8x18.6x1.6x
Sat, 28 May 2022NZ$158.9bNZ$100.3bNZ$8.6b17.9x18.5x1.6x
Price to Earnings Ratio

18.5x


Total Market Cap: NZ$158.9bTotal Earnings: NZ$8.6bTotal Revenue: NZ$100.3bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 31.2x202320242025
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 63.5x which is higher than its 3-year average PE of 31.2x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have declined 32% 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 Market-0.58%
Consumer Staples1.81%
Financials0.90%
Utilities0.56%
Telecom0.44%
Consumer Discretionary-0.36%
Materials-1.07%
Real Estate-1.39%
Industrials-1.67%
Energy-1.96%
Healthcare-2.04%
Tech-5.00%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 40.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.8% 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
MEL Meridian EnergyNZ$5.901.7%
+NZ$261.5m		-4.8%PE131.9xUtilities
FCG Fonterra Co-operative GroupNZ$4.753.3%
+NZ$240.6m		53.7%PE6.5xConsumer Staples
FPH Fisher & Paykel HealthcareNZ$36.550.8%
+NZ$175.9m		27.7%PE120xHealthcare
MCY Mercury NZNZ$6.151.3%
+NZ$112.6m		-3.5%PE176.6xUtilities
SAN SanfordNZ$5.5011.1%
+NZ$51.4m		40.7%PE13.7xConsumer Staples
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GTK

NZ$11.52

Gentrack Group

7D

-6.5%

1Y

21.9%

SPK

NZ$2.25

Spark New Zealand

7D

1.1%

1Y

-46.5%

SAN

NZ$5.50

Sanford

7D

11.1%

1Y

40.7%

MEL

NZ$5.90

Meridian Energy

7D

1.7%

1Y

-4.8%

AIA

NZ$7.75

Auckland International Airport

7D

-2.6%

1Y

1.8%

SUM

NZ$11.05

Summerset Group Holdings

7D

-5.6%

1Y

10.1%

FCG

NZ$4.75

Fonterra Co-operative Group

7D

3.3%

1Y

53.7%

POT

NZ$6.72

Port of Tauranga

7D

0.9%

1Y

34.4%

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VCT

NZ$4.16

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7D

-2.1%

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14.3%

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IFT

NZ$11.48

Infratil

7D

-1.5%

1Y

6.0%

MCY

NZ$6.15

Mercury NZ

7D

1.3%

1Y

-3.5%

ATM

NZ$8.87

a2 Milk

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-2.0%

1Y

17.6%

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HGH

NZ$0.83

Heartland Group Holdings

7D

5.1%

1Y

-19.4%

MFT

NZ$67.50

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7D

-1.5%

1Y

0.7%

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FPH

NZ$36.55

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0.8%

1Y

27.7%

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SKL

NZ$4.54

Skellerup Holdings

7D

-6.4%

1Y

12.9%