Some Shareholders Feeling Restless Over The a2 Milk Company Limited's (NZSE:ATM) P/E Ratio
Jun 12
New Zealand (NZX) Market Analysis & Valuation
UpdatedJun 19, 2024
DataAggregated Company Financials
Companies116
- 7D-0.6%
- 3M-1.3%
- 1Y-5.1%
- YTD-1.9%
The market has stayed flat over the 7 days. The past year hasn't been profitable, with the market dropping 5.1%. Earnings are forecast to grow by 19% annually.
Trending IndustriesSoftware
Market Valuation and Performance
Has the New Zealand Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 19 Jun 2024 | NZ$154.0b | NZ$109.5b | NZ$4.3b | 14.8x | 35.8x | 1.4x |
| Fri, 17 May 2024 | NZ$153.8b | NZ$110.0b | NZ$5.8b | 15.4x | 26.4x | 1.4x |
| Sun, 14 Apr 2024 | NZ$156.4b | NZ$110.0b | NZ$5.8b | 17x | 26.9x | 1.4x |
| Tue, 12 Mar 2024 | NZ$156.9b | NZ$111.1b | NZ$5.7b | 17x | 27.3x | 1.4x |
| Thu, 08 Feb 2024 | NZ$158.9b | NZ$109.2b | NZ$6.6b | 14x | 23.9x | 1.5x |
| Sat, 06 Jan 2024 | NZ$157.7b | NZ$109.3b | NZ$6.6b | 15.8x | 23.7x | 1.4x |
| Mon, 04 Dec 2023 | NZ$152.3b | NZ$109.3b | NZ$6.6b | 15.6x | 22.9x | 1.4x |
| Wed, 01 Nov 2023 | NZ$144.8b | NZ$109.3b | NZ$5.8b | 16.4x | 24.8x | 1.3x |
| Fri, 29 Sep 2023 | NZ$150.8b | NZ$109.0b | NZ$5.9b | 16.2x | 25.7x | 1.4x |
| Sun, 27 Aug 2023 | NZ$156.6b | NZ$110.7b | NZ$6.3b | 17.2x | 24.9x | 1.4x |
| Tue, 25 Jul 2023 | NZ$164.5b | NZ$108.4b | NZ$6.6b | 16.7x | 24.8x | 1.5x |
| Thu, 22 Jun 2023 | NZ$161.6b | NZ$108.5b | NZ$6.6b | 15.8x | 24.4x | 1.5x |
| Sat, 20 May 2023 | NZ$165.3b | NZ$107.3b | NZ$7.7b | 15.5x | 21.6x | 1.5x |
| Mon, 17 Apr 2023 | NZ$162.5b | NZ$107.4b | NZ$7.6b | 15.6x | 21.4x | 1.5x |
| Wed, 15 Mar 2023 | NZ$159.8b | NZ$104.7b | NZ$7.3b | 15.9x | 21.8x | 1.5x |
| Fri, 10 Feb 2023 | NZ$167.0b | NZ$100.5b | NZ$6.6b | 16.8x | 25.2x | 1.7x |
| Sun, 08 Jan 2023 | NZ$159.7b | NZ$100.3b | NZ$6.6b | 16x | 24.2x | 1.6x |
| Tue, 06 Dec 2022 | NZ$160.2b | NZ$100.1b | NZ$6.6b | 16.6x | 24.2x | 1.6x |
| Thu, 03 Nov 2022 | NZ$156.9b | NZ$99.4b | NZ$7.9b | 16.9x | 19.9x | 1.6x |
| Sat, 01 Oct 2022 | NZ$154.8b | NZ$99.9b | NZ$7.9b | 17x | 19.7x | 1.5x |
| Mon, 29 Aug 2022 | NZ$163.3b | NZ$97.8b | NZ$7.7b | 18x | 21.3x | 1.7x |
| Wed, 27 Jul 2022 | NZ$158.2b | NZ$96.4b | NZ$8.3b | 19.2x | 19x | 1.6x |
| Fri, 24 Jun 2022 | NZ$153.5b | NZ$96.3b | NZ$8.4b | 17.7x | 18.4x | 1.6x |
| Sun, 22 May 2022 | NZ$161.3b | NZ$99.5b | NZ$8.8b | 17.5x | 18.4x | 1.6x |
| Tue, 19 Apr 2022 | NZ$168.8b | NZ$100.5b | NZ$8.7b | 18.4x | 19.3x | 1.7x |
| Thu, 17 Mar 2022 | NZ$169.3b | NZ$99.2b | NZ$8.8b | 16.2x | 19.3x | 1.7x |
| Sat, 12 Feb 2022 | NZ$177.1b | NZ$98.3b | NZ$9.0b | 16.7x | 19.7x | 1.8x |
| Mon, 10 Jan 2022 | NZ$184.3b | NZ$98.2b | NZ$9.0b | 19.2x | 20.5x | 1.9x |
| Wed, 08 Dec 2021 | NZ$179.0b | NZ$98.0b | NZ$9.0b | 18.7x | 20x | 1.8x |
| Fri, 05 Nov 2021 | NZ$182.1b | NZ$96.7b | NZ$8.1b | 20.9x | 22.4x | 1.9x |
| Sun, 03 Oct 2021 | NZ$186.3b | NZ$96.0b | NZ$8.0b | 23x | 23.3x | 1.9x |
| Tue, 31 Aug 2021 | NZ$186.3b | NZ$95.4b | NZ$8.0b | 21.8x | 23.4x | 2x |
| Wed, 07 Jul 2021 | NZ$180.3b | NZ$95.4b | NZ$8.0b | 21x | 22.6x | 1.9x |
Price to Earnings Ratio
22.6x
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 35.8x which is higher than its 3-year average PE of 22.8x.
Past Earnings Growth
- The earnings for New Zealander listed companies have declined 19% per year over the last three years.
- Meanwhile revenues for these companies have grown 4.7% 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 | -0.64% | |
| Healthcare | 1.93% | |
| Tech | 1.43% | |
| Industrials | 0.62% | |
| Energy | 0% | |
| Telecom | -0.67% | |
| Financials | -1.61% | |
| Real Estate | -1.62% | |
| Materials | -2.25% | |
| Consumer Discretionary | -2.31% | |
| Utilities | -2.62% | |
| Consumer Staples | -2.79% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 39.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 19.5% which is higher than its past year's earnings decline of 72.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 59% over the next 5 years.
- This is better than its past earnings decline of 57% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 4.7% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| IFT Infratil | NZ$11.08 | 3.9% +NZ$2.6b | 14.5% | PE13.5x | Industrials | |
| FPH Fisher & Paykel Healthcare | NZ$30.98 | 3.8% +NZ$654.1m | 27.5% | PE136.4x | Healthcare | |
| MFT Mainfreight | NZ$69.00 | 1.2% +NZ$83.6m | -4.7% | PE33.3x | Industrials | |
| DGL Delegat Group | NZ$5.03 | 10.8% +NZ$49.6m | -41.8% | PE8.8x | Consumer Staples | |
| GTK Gentrack Group | NZ$10.15 | 4.1% +NZ$41.4m | 145.2% | PE140.1x | Tech |
