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New Zealand (NZX) Market Analysis & Valuation

UpdatedOct 30, 2023
DataAggregated Company Financials
Companies121
  • 7D-2.0%
  • 3M-12.0%
  • 1Y-7.2%
  • YTD-9.2%

Over the last 7 days, the market has dropped 2.0%, driven by pullbacks in every sector, especially the Industrials sector. As for last year, the market is also down 7.2%. Looking forward, earnings are forecast to grow by 17% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 31 Oct 2023NZ$146.5bNZ$109.6bNZ$5.9b16.2x25x1.3x
Thu, 28 Sep 2023NZ$154.1bNZ$109.4bNZ$5.9b15.9x26.1x1.4x
Sat, 26 Aug 2023NZ$158.2bNZ$109.3bNZ$5.8b16.2x27.1x1.4x
Mon, 24 Jul 2023NZ$164.9bNZ$108.7bNZ$6.7b16.7x24.7x1.5x
Wed, 21 Jun 2023NZ$163.3bNZ$108.8bNZ$6.7b15.9x24.5x1.5x
Fri, 19 May 2023NZ$163.8bNZ$107.4bNZ$7.7b15.6x21.4x1.5x
Sun, 16 Apr 2023NZ$162.5bNZ$107.4bNZ$7.6b15.6x21.4x1.5x
Tue, 14 Mar 2023NZ$160.4bNZ$104.8bNZ$7.3b15.9x21.9x1.5x
Thu, 09 Feb 2023NZ$166.2bNZ$100.5bNZ$6.6b16.8x25.1x1.7x
Sat, 07 Jan 2023NZ$159.7bNZ$100.3bNZ$6.6b16x24.2x1.6x
Mon, 05 Dec 2022NZ$160.1bNZ$100.1bNZ$6.6b16.4x24.2x1.6x
Wed, 02 Nov 2022NZ$157.2bNZ$99.5bNZ$7.9b17x20x1.6x
Fri, 30 Sep 2022NZ$156.3bNZ$99.9bNZ$7.9b17.1x19.9x1.6x
Sun, 28 Aug 2022NZ$163.3bNZ$97.8bNZ$7.7b18x21.3x1.7x
Tue, 26 Jul 2022NZ$158.8bNZ$96.4bNZ$8.3b19.2x19.1x1.6x
Thu, 23 Jun 2022NZ$151.8bNZ$96.3bNZ$8.4b17.6x18.2x1.6x
Sat, 21 May 2022NZ$161.3bNZ$99.5bNZ$8.8b17.5x18.4x1.6x
Mon, 18 Apr 2022NZ$168.8bNZ$100.5bNZ$8.7b18.4x19.3x1.7x
Wed, 16 Mar 2022NZ$168.2bNZ$99.2bNZ$8.8b16.2x19.2x1.7x
Fri, 11 Feb 2022NZ$177.3bNZ$98.3bNZ$9.0b19.9x19.8x1.8x
Sun, 09 Jan 2022NZ$184.3bNZ$98.2bNZ$9.0b19.2x20.5x1.9x
Tue, 07 Dec 2021NZ$179.0bNZ$98.0bNZ$9.0b18.7x20x1.8x
Thu, 04 Nov 2021NZ$182.8bNZ$96.1bNZ$8.0b21.9x22.9x1.9x
Sat, 02 Oct 2021NZ$186.2bNZ$96.0bNZ$8.0b23x23.3x1.9x
Mon, 30 Aug 2021NZ$185.8bNZ$95.4bNZ$8.0b21.8x23.3x1.9x
Tue, 06 Jul 2021NZ$180.3bNZ$95.4bNZ$8.0b21x22.6x1.9x
Fri, 09 Apr 2021NZ$181.2bNZ$94.0bNZ$6.6b22.1x27.4x1.9x
Thu, 31 Dec 2020NZ$188.5bNZ$92.2bNZ$4.9b21.5x38.3x2x
Price to Earnings Ratio

42x


Total Market Cap: NZ$171.8bTotal Earnings: NZ$4.1bTotal Revenue: NZ$92.9bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Market Price to Earnings3Y Average 24.4x202120222023
Current Market PE
  • Investors are relatively neutral on the New Zealander market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 24.4x.
Past Earnings Growth
  • The earnings for New Zealander listed companies have grown 13% per year over the last three years.
  • Revenues for these companies have grown 5.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the New Zealand Market?

NZ Market-2.02%
Healthcare-0.68%
Materials-0.96%
Telecom-1.15%
Utilities-1.17%
Consumer Discretionary-1.62%
Financials-2.00%
Consumer Staples-2.20%
Real Estate-2.91%
Industrials-3.56%
Tech-4.24%
Energy-5.54%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 37.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 14.8% which is higher than its past year's earnings decline of 21.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 61% over the next 5 years.
  • This is better than its past earnings growth rate of 22% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 5.9% 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$20.800.8%
+NZ$101.8m		6.2%PE48.4xHealthcare
EBO EBOS GroupNZ$34.280.5%
+NZ$30.7m		-8.6%PE23.8xHealthcare
SKT SKY Network TelevisionNZ$2.914.7%
+NZ$18.7m		34.1%PE8.2xTelecom
NWF NZ WindfarmsNZ$0.1525.6%
+NZ$15.0m		-11.4%PS6.6xUtilities
CMO Colonial MotorNZ$8.854.7%
+NZ$13.1m		-9.2%PE10.4xConsumer Discretionary
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