NZX (NZST.Y) Stock Overview

Operates a stock exchange in New Zealand. More details

NZST.Y fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	2/6
Financial Health	6/6
Dividends	5/6

Rewards

Price-To-Earnings ratio (21.6x) is below the Capital Markets industry average (22.7x)

Earnings are forecast to grow 7.68% per year

Risk Analysis

Shares are highly illiquid

Dividend of 4.47% is not well covered by earnings

NZST.Y Community Fair Values

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NZX Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for NZX
Historical stock prices
Current Share Price	NZ$9.64
52 Week High	NZ$9.64
52 Week Low	NZ$9.14
Beta	0.36
1 Month Change	n/a
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	2.66%

Recent News & Updates

No updates

Recent updates

No updates

Shareholder Returns

	NZST.Y	US Capital Markets	US Market
7D	0%	-1.9%	-0.6%
1Y	n/a	3.7%	15.5%

Return vs Industry: Insufficient data to determine how NZST.Y performed against the US Capital Markets industry.

Return vs Market: Insufficient data to determine how NZST.Y performed against the US Market.

Price Volatility

Is NZST.Y's price volatile compared to industry and market?
NZST.Y volatility
NZST.Y Average Weekly Movement	n/a
Capital Markets Industry Average Movement	3.9%
Market Average Movement	6.6%
10% most volatile stocks in US Market	16.0%
10% least volatile stocks in US Market	3.1%

Stable Share Price: NZST.Y's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: Insufficient data to determine NZST.Y's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1866	356	Graham Law	www.nzx.com

NZX Limited operates a stock exchange in New Zealand. The company operates through five segments: Capital Markets Origination, Secondary Markets, Information Services, Funds Management, and Wealth Technologies. The Capital Markets Origination segment provides issuer services for current and prospective customers.

NZX Limited Fundamentals Summary

How do NZX's earnings and revenue compare to its market cap?
NZST.Y fundamental statistics
Market cap	US$276.78m
Earnings (TTM)	US$12.65m
Revenue (TTM)	US$75.97m

21.6x

P/E Ratio

3.6x

P/S Ratio

Is NZST.Y overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NZST.Y income statement (TTM)
Revenue	NZ$128.95m
Cost of Revenue	NZ$73.97m
Gross Profit	NZ$54.98m
Other Expenses	NZ$33.50m
Earnings	NZ$21.48m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.065
Gross Margin	42.63%
Net Profit Margin	16.65%
Debt/Equity Ratio	50.5%

How did NZST.Y perform over the long term?

See historical performance and comparison

Dividends

4.5%

Current Dividend Yield

96%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/03/04 21:21
End of Day Share Price	2026/02/19 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NZX Limited is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Christopher Byrne	Deutsche Bank
Benjamin Crozier	Forsyth Barr Group Ltd.
Adrian Allbon	Jarden Limited