Market data
NZX valuation comparison
Valuation metrics across covered companies, combining EOD closes with the same fundamental data used in briefings. Every market-derived number is dated.
Valuation spread
Trailing P/E for covered companies with meaningful positive earnings below 200x, as at close, 19 October 2026.
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| Company | Ticker | Period | Close price | As at close | Market cap | Forward P/E | Trailing P/E | EV/EBITDA | P/B | P/FCF |
|---|---|---|---|---|---|---|---|---|---|---|
| Fisher & Paykel Healthcare | FPH | FY26 | 48.79 | as at close, 19 October 2026 | $28.7b | n/a | 61.3x | 44.5x | 13.6x | 61.3x |
| Meridian Energy | MEL | FY26 | 5.51 | as at close, 19 October 2026 | $14.6b | n/a | 112.6x | 15.3x | 1.5x | 20.3x |
| Auckland International Airport | AIA | FY26 | 8.13 | as at close, 19 October 2026 | $13.9b | n/a | 41.4x | 22.9x | 1.3x | n/a |
| Infratil | IFT | FY26 | 12.22 | as at close, 19 October 2026 | $12.2b | n/a | 22.3x | 26.8x | 1.4x | n/a |
| Mercury NZ | MCY | FY26 | 6.70 | as at close, 19 October 2026 | $9.6b | n/a | 30x | 11.3x | 1.8x | 15.7x |
| Contact Energy | CEN | FY26 | 8.57 | as at close, 19 October 2026 | $9.3b | n/a | 22.1x | 11.4x | 1.8x | 14.3x |
| Fonterra Co-operative Group | FCG | FY26 | 5.55 | as at close, 19 October 2026 | $8.9b | n/a | n/a | n/a | n/a | n/a |
| Mainfreight | MFT | FY26 | 66.69 | as at close, 19 October 2026 | $6.7b | n/a | 26.8x | n/a | 3.1x | 17.1x |
| Templeton Emerging Markets Investment Trust Plc | TEM | HY24 | 7.35 | as at close, 19 October 2026 | $6.6b | n/a | n/a | n/a | 3.4x | n/a |
| The a2 Milk Company | ATM | FY26 | 8.50 | as at close, 19 October 2026 | $6.2b | n/a | 54.5x | 19x | 5.8x | 103.7x |
| Port of Tauranga | POT | FY26 | 8.31 | as at close, 19 October 2026 | $5.7b | n/a | 36.2x | 22.2x | 2.4x | 47.6x |
| Vector | VCT | FY26 | 4.60 | as at close, 19 October 2026 | $4.6b | n/a | 19.2x | 10.2x | 1.3x | 52x |
| EBOS Group | EBO | FY26 | 19.93 | as at close, 19 October 2026 | $4.2b | n/a | 18.5x | 8.7x | 1.5x | 20.4x |
| Spark New Zealand | SPK | FY26 | 1.88 | as at close, 19 October 2026 | $3.6b | n/a | 7.1x | 3.4x | 2.2x | 11.5x |
| Chorus | CNU | FY26 | 7.96 | as at close, 19 October 2026 | $3.5b | n/a | 93.3x | 9.1x | 3.4x | 9.4x |
| Fletcher Building | FBU | FY26 | 3.21 | as at close, 19 October 2026 | $3.5b | n/a | 15.1x | 5.9x | 0.9x | 8.1x |
| Genesis Energy | GNE | FY26 | 2.38 | as at close, 19 October 2026 | $3.1b | n/a | 37.2x | 7.9x | 1.1x | 12.8x |
| Goodman Property Trust | GMT | FY26 | 1.89 | as at close, 19 October 2026 | $2.9b | n/a | 22.7x | 25.8x | 0.9x | n/a |
| Goodman Property Trust | GNZ | HY26 | 1.89 | as at close, 19 October 2026 | $2.9b | n/a | 22.7x | 18.7x | 0.9x | n/a |
| Freightways Group | FRW | FY26 | 12.38 | as at close, 19 October 2026 | $2.2b | n/a | 23.7x | 9x | 4x | 14.1x |
| Ryman Healthcare | RYM | FY26 | 1.85 | as at close, 19 October 2026 | $1.9b | n/a | n/a | n/a | 0.5x | 10x |
| Precinct Properties | PCT | HY26 | 0.94 | as at close, 19 October 2026 | $1.7b | n/a | n/m | n/a | 0.8x | n/a |
| Summerset Group Holdings | SUM | HY26 | 6.84 | as at close, 19 October 2026 | $1.7b | n/a | 5.5x | n/a | 0.5x | 11.5x |
| Henderson Far East Income | HFL | HY26 | 6.43 | as at close, 19 October 2026 | $1.5b | n/a | 11.4x | n/a | 2.9x | n/a |
| Skellerup Holdings | SKL | FY26 | 7.59 | as at close, 19 October 2026 | $1.5b | n/a | 22x | 14x | 5.7x | 21.7x |
| Kiwi Property Group | KPG | FY26 | 0.90 | as at close, 19 October 2026 | $1.5b | n/a | 29.5x | n/a | 0.8x | 58.3x |
| Channel Infrastructure NZ | CHI | FY25 | 3.40 | as at close, 19 October 2026 | $1.4b | n/a | 119.9x | 18.7x | 1.8x | 21.1x |
| Air New Zealand | AIR | FY26 | 0.38 | as at close, 19 October 2026 | $1.2b | n/a | n/a | n/m | 0.7x | n/a |
| Heartland Group Holdings | HGH | HY26 | 1.24 | as at close, 19 October 2026 | $1.2b | n/a | 13.9x | n/a | 0.9x | n/a |
| Property for Industry | PFI | FY26 | 2.18 | as at close, 19 October 2026 | $1.1b | n/a | 14.1x | n/a | 0.8x | n/a |
| Vulcan Steel | VSL | HY26 | 6.75 | as at close, 19 October 2026 | $989.1m | n/a | 66.8x | 11x | 3.4x | 23.9x |
| Scales Corporation | SCL | HY26 | 6.54 | as at close, 19 October 2026 | $958.6m | n/a | 11.6x | 6.5x | 2x | 9x |
| Briscoe Group | BGP | HY27 | 4.26 | as at close, 19 October 2026 | $949.1m | n/a | 16.5x | n/a | 3.1x | 52x |
| Hallenstein Glasson | HLG | FY26 | 15.28 | as at close, 19 October 2026 | $911.4m | n/a | 15.4x | n/a | 6.4x | 9.8x |
| Argosy Property | ARG | FY26 | 1.00 | as at close, 19 October 2026 | $878.3m | n/a | 6.9x | n/a | 0.6x | n/a |
| SkyCity Entertainment Group | SKC | FY26 | 0.67 | as at close, 19 October 2026 | $739m | n/a | 40.6x | 11x | 0.5x | 28.1x |
| Napier Port Holdings | NPH | HY26 | 3.62 | as at close, 19 October 2026 | $722.5m | n/a | 25.2x | 14.6x | 1.7x | 55.7x |
| Tower | TWR | HY26 | 2.08 | as at close, 19 October 2026 | $714.3m | n/a | 12.6x | n/a | 2.2x | n/a |
| Turners Automotive Group | TRA | FY26 | 7.22 | as at close, 19 October 2026 | $661.9m | n/a | 17.3x | n/a | 2.1x | n/a |
| Vista Group International | VGL | HY26 | 2.75 | as at close, 19 October 2026 | $658m | n/a | n/m | 21.7x | 4.4x | n/a |
| Tourism Holdings | THL | FY26 | 2.76 | as at close, 19 October 2026 | $611.3m | n/a | 15.9x | 4.8x | 1x | 10.5x |
| Sanford | SAN | HY26 | 5.85 | as at close, 19 October 2026 | $547m | n/a | n/a | n/a | 0.7x | n/a |
| Sky Network Television | SKT | HY26 | 3.60 | as at close, 19 October 2026 | $496.6m | n/a | 6.7x | n/a | 1x | 4.8x |
| Oceania Healthcare | OCA | HY26 | 0.66 | as at close, 19 October 2026 | $478m | n/a | 9.1x | 12.2x | 0.4x | n/a |
| Gentrack Group Limited 6 months to 31 March 2026 | GTK | HY26 | 4.07 | as at close, 19 October 2026 | $457.8m | n/a | 24.3x | n/a | 1.9x | n/a |
| Delegat Group | DGL | FY26 | 4.28 | as at close, 19 October 2026 | $432.8m | n/a | 11x | 5.3x | 0.7x | 4.8x |
| Kingfish | KFL | FY26 | 1.09 | as at close, 19 October 2026 | $395.7m | n/a | n/a | n/a | n/a | n/a |
| Winton Land | WIN | FY26 | 1.16 | as at close, 19 October 2026 | $344.1m | n/a | 15.2x | 7.7x | 0.6x | 3.9x |
| Millennium & Copthorne Hotels New Zealand | MCK | HY26 | 3.10 | as at close, 19 October 2026 | $327m | n/a | 13x | 9.2x | 0.5x | 13.5x |
| Pacific Edge | PEB | FY26 | 0.23 | as at close, 19 October 2026 | $291.8m | n/a | n/a | n/a | 27.4x | n/a |
| Green Cross Health | GXH | FY26 | 1.98 | as at close, 19 October 2026 | $284.8m | n/a | 14x | 6.1x | 1.6x | n/a |
| T&G Global Limited and subsidiary companies | TGG | FY25 | 2.26 | as at close, 19 October 2026 | $276.9m | n/a | 27.2x | 9x | 0.5x | 4.5x |
| Synlait Milk | SML | HY26 | 0.46 | as at close, 19 October 2026 | $274.5m | n/a | n/a | n/a | 0.4x | n/a |
| The Colonial Motor Company | CMO | FY26 | 7.15 | as at close, 19 October 2026 | $233.8m | n/a | 11.7x | n/a | 0.7x | n/a |
| Scott Technology | SCT | HY26 | 2.73 | as at close, 19 October 2026 | $231.8m | n/a | 16.2x | 7.6x | 1.8x | 23.5x |
| Seeka | SEK | HY26 | 5.15 | as at close, 19 October 2026 | $231.6m | n/a | n/a | n/a | 0.7x | n/a |
| The Warehouse Group | WHS | FY25 | 0.65 | as at close, 19 October 2026 | $227.2m | n/a | 19.3x | 5.4x | 0.7x | 1.9x |
| South Port New Zealand | SPN | FY26 | 8.17 | as at close, 19 October 2026 | $214.3m | n/a | 13.3x | 7.8x | 2.8x | 11.6x |
| ikeGPS Group | IKE | FY26 | 1.03 | as at close, 19 October 2026 | $200.9m | n/a | n/a | n/a | 7.9x | n/a |
| NZME | NZM | FY25 | 1.02 | as at close, 19 October 2026 | $191.9m | n/a | 14.7x | 3.3x | 2x | 7.6x |
| EROAD | ERD | FY26 | 0.99 | as at close, 19 October 2026 | $186.2m | n/a | n/a | n/a | 1.1x | n/m |
| CDL Investments New Zealand | CDI | HY26 | 0.61 | as at close, 19 October 2026 | $178.7m | n/a | 16.4x | n/a | 0.6x | n/a |
| Marlin Global | MLN | FY26 | 0.71 | as at close, 19 October 2026 | $164.8m | n/a | n/a | n/a | n/a | n/a |
| PGG Wrightson | PGW | FY26 | 2.17 | as at close, 19 October 2026 | $163.8m | n/a | 10.5x | 3.9x | 0.9x | 3.5x |
| Livestock Improvement Corporation | LIC | FY26 | 1.12 | as at close, 19 October 2026 | $159.2m | n/a | 7.5x | n/a | 0.5x | 6.3x |
| Barramundi | BRM | FY26 | 0.45 | as at close, 19 October 2026 | $158.1m | n/a | n/a | n/a | n/a | n/a |
| Michael Hill International | MHJ | FY26 | 0.41 | as at close, 19 October 2026 | $157.8m | n/a | 15.8x | n/a | 0.9x | 1.8x |
| KMD Brands | KMD | HY26 | 1.95 | as at close, 19 October 2026 | $140.4m | n/a | n/a | 3.8x | 0.2x | 1.7x |
| Serko | SKO | FY26 | 1.11 | as at close, 19 October 2026 | $140m | n/a | n/a | n/a | 1.6x | n/a |
| New Zealand Rural Land Company | NZL | HY26 | 0.92 | as at close, 19 October 2026 | $134.8m | n/a | 14.8x | n/a | 0.6x | 23.4x |
| New Zealand King Salmon Investments | NZK | HY26 | 0.24 | as at close, 19 October 2026 | $129.2m | n/a | 6.1x | 2.4x | 0.6x | 11x |
| Radius Residential Care | RAD | FY26 | 0.41 | as at close, 19 October 2026 | $114.8m | n/a | 12.1x | 6.7x | 1.5x | 12.7x |
| Comvita | CVT | FY26 | 0.82 | as at close, 19 October 2026 | $106.5m | n/a | 13.8x | 7.6x | 1.1x | 2.7x |
| My Food Bag Group | MFB | FY26 | 0.30 | as at close, 19 October 2026 | $76.4m | n/a | 11.4x | 4.8x | 1.1x | 9x |
| Asset Plus | APL | FY26 | 0.17 | as at close, 19 October 2026 | $59.8m | n/a | n/a | n/a | 0.5x | n/a |
| Steel & Tube Holdings | STU | FY26 | 0.29 | as at close, 19 October 2026 | $53.3m | n/a | n/a | n/a | 0.4x | 9.3x |
| Third Age Health Services | TAH | FY26 | 4.60 | as at close, 19 October 2026 | $45.8m | n/a | 16.4x | 7.7x | 8.3x | 11.6x |
| Bremworth | BRW | FY26 | 0.64 | as at close, 19 October 2026 | $44.2m | n/a | n/a | n/a | 0.7x | n/a |
| Promisia Healthcare | PHL | FY26 | 0.65 | as at close, 19 October 2026 | $35.5m | n/a | 2.8x | 11.2x | 0.6x | n/a |
| ArborGen Holdings | ARB | FY26 | 0.06 | as at close, 19 October 2026 | $33.4m | n/a | n/a | n/a | 0.3x | n/a |
| BLIS Technologies | BLT | FY26 | 0.03 | as at close, 19 October 2026 | $33.3m | n/a | 47.5x | n/a | 2.6x | n/a |
| AoFrio | AOF | HY26 | 0.05 | as at close, 19 October 2026 | $28.7m | n/a | n/a | n/a | 1.2x | n/a |
| General Capital | GEN | FY26 | 0.29 | as at close, 19 October 2026 | $27.1m | n/a | 10.1x | n/a | 0.9x | n/a |
| MOVE Logistics Group | MOV | FY26 | 0.19 | as at close, 19 October 2026 | $24.2m | n/a | 80.8x | 0.7x | 2.1x | 0.8x |
| Metro Performance Glass | MPG | FY26 | 0.83 | as at close, 19 October 2026 | $20.4m | n/a | n/a | 2.6x | 0.3x | 1.6x |
| Savor | SVR | FY26 | 0.20 | as at close, 19 October 2026 | $15.3m | n/a | 11.8x | 2.7x | 0.8x | 3.3x |
| Burger Fuel Group | BFG | FY26 | 0.34 | as at close, 19 October 2026 | $12m | n/a | 6x | n/a | 1x | n/a |
| Truscreen Group | TRU | FY26 | 0.01 | as at close, 19 October 2026 | $10.5m | n/a | n/a | n/a | 4.1x | n/a |
| Rua Bioscience | RUA | FY26 | 0.03 | as at close, 19 October 2026 | $10.2m | n/a | n/a | n/a | 2.4x | n/a |
| Enprise Group | ENS | FY25 | 0.41 | as at close, 19 October 2026 | $9m | n/a | n/a | n/a | 3x | 30.8x |
| Cooks Coffee Company | CCC | FY26 | 0.13 | as at close, 19 October 2026 | $8.5m | n/a | 28.3x | 7.9x | n/a | n/a |
| Me Today | MEE | HY26 | 0.08 | as at close, 19 October 2026 | $7.9m | n/a | n/a | n/a | 2.6x | n/a |
| New Talisman Gold Mines | NTL | FY26 | 0.01 | as at close, 19 October 2026 | $5.6m | n/a | n/a | n/a | 0.3x | n/a |
| AFC Group Holdings | AFC | FY26 | 0.00 | as at close, 19 October 2026 | $3.7m | n/a | n/a | n/a | 17.8x | n/a |
| Iperion | IPR | FY26 | 0.00 | as at close, 19 October 2026 | $1.5m | n/a | n/a | n/a | 28.6x | n/a |
| Blackwell Global Holdings | RTO | FY26 | 0.14 | as at close, 19 October 2026 | $1.5m | n/a | n/a | n/a | 7.8x | n/a |
| Being AI | BAI | FY26 | 0.01 | as at close, 19 October 2026 | $1.1m | n/a | 150.4x | n/a | n/a | n/a |
| Australian Foundation Investment Company | AFI | FY26 | n/a | as at close, 19 October 2026 | n/a | n/a | n/a | n/a | n/a | n/a |
| Rakon | RAK | HY26 | n/a | as at close, 25 May 2026 | n/a | n/a | n/a | n/a | n/a | n/a |
| Westpac Banking Corporation | WBC | HY26 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
Methodology: valuation rows use dated EOD closes and standard Annolyse fundamentals. Forward P/E appears only when a supported forward EPS input exists. EV/EBITDA uses market cap plus filing-derived net debt over trailing EBITDA and is not shown for company types where it is not meaningful. Other ratios are not shown when earnings or cash flow are unsuitable, the listing line is unsupported, or required market data is unavailable. The chart omits trailing P/E values above 200x so low-earnings outliers do not flatten the comparison.