NZX Governance Explorer
NZXplorer
CompaniesPeopleScreenerShareholdersCopilot
Portfolio
Sign in
NZXplorer LogoNZXplorer

NZX corporate governance intelligence. Director relationships, executive pay, shareholder voting, insider trading, and governance benchmarks across 130+ listed companies.

Platform

  • Companies
  • People
  • Screener
  • Shareholders
  • Backtester
  • Macro
  • Copilot
  • NZX Filings
  • Portfolio
  • Intelligence Hub

Research

  • Insights Hub
  • Signals
  • Deep Research
  • Articles
  • Compare
  • Brokers
  • Auditors
  • Director Network
  • Board Intelligence
  • Chairs
  • Executives
  • Board Search
  • IR Quality
  • Deal Advisers
  • Deal Insider Signals
  • Deal Prediction
  • DCF Model
  • Consensus Estimates
  • Thesis Monitor
  • Risk Monitor
  • Filing Diff

Developers

  • API Documentation
  • Widget API
  • Excel Add-in
  • Google Sheets
  • Board Intelligence API

Company

  • FAQ
  • Docs
  • Methodology
  • Pricing
  • Privacy
  • Terms
  • Disclaimer
  • Conflict of Interest

Disclaimer: This website is for informational and research purposes only and does not constitute financial, investment, or professional advice. We are not a licensed financial adviser under the Financial Markets Conduct Act 2013 (New Zealand). Always consult with a registered financial adviser before making investment decisions. While we strive for accuracy, data may contain errors or omissions. See our Disclaimer for full details.

Not affiliated with NZX Limited: NZXplorer is an independent research platform and is not associated with, endorsed by, or affiliated with NZX Limited or any of its subsidiaries. All data is sourced from publicly available NZX announcements, company disclosures, and other public sources. NZX® is a registered trademark of NZX Limited.

Information on this site is drawn from publicly available disclosures and is presented for transparency of governance and institutional accountability. Figures relate to roles held within organisations and do not represent personal financial profiling.

Data sourced from NZX announcements, company disclosures, FMA Disclose Register, dividends.co.nz and other public sources • © 2026 NZXplorer
nzxplorer.co.nzhello@nzxplorer.co.nz
Home
Insights
Fair Value Estimates

Fair Value Estimates

Estimated fair values for NZX companies using 3 standard valuation models: Discounted Cash Flow (DCF), Dividend Discount Model (Gordon Growth), and EV/EBITDA relative valuation. All assumptions are transparent and adjustable on individual company pages.

Companies Valued
93
of 132
Below Estimate
29
P/FV < 0.9
Near Estimate
7
P/FV 0.9–1.1
Above Estimate
57
P/FV > 1.1
High Confidence
3
Avg 1.7 models

All Fair Value Estimates (93 companies)

TickerCompanySectorPriceFair ValueP/FVDCFDDMEV/EBITDAConfidenceAssessment
BFGBurger Fuel Group LimitedConsumer Discretionary$0.34$419.010.00x$285.13—$667.64lowInsufficient data for fair value assessment
GENGeneral Capital LimitedFinancials$0.29$1270.830.00x$1270.83——lowInsufficient data for fair value assessment
IPRIperion LimitedReal Estate$0.00$0.370.01x$0.37——lowTrading 99% below composite DCF estimate
AGLAccordant Group LimitedUtilities$0.30$6.420.05x——$6.42lowTrading 95% below composite DCF estimate
FSFFonterra Shareholders' FundConsumer Staples$8.27$127.980.06x$130.95—$122.45mediumTrading 94% below composite DCF estimate
SCTScott Technology LimitedIndustrials$2.40$16.880.14x$1.39$61.05$3.69lowTrading 86% below composite DCF estimate
MOVMOVE Logistics Group LimitedIndustrials$0.23$1.190.19x$1.27$0.36$1.84lowTrading 81% below composite DCF estimate
AIRAir New ZealandIndustrials$0.46$2.220.21x$2.94$0.09$2.89lowTrading 79% below composite DCF estimate
SMLSynlait Milk LimitedConsumer Staples$0.48$2.340.21x$3.39—$0.40lowTrading 79% below composite DCF estimate
NZKNew Zealand King Salmon Investments LimitedConsumer Staples$0.20$0.770.26x$0.74—$0.84highTrading 74% below composite DCF estimate
KMDKMD Brands LimitedConsumer Discretionary$0.23$0.780.29x$0.79$0.19$1.33lowTrading 71% below composite DCF estimate
ERDEROADIndustrials$0.89$2.960.30x——$2.96lowTrading 70% below composite DCF estimate
LICLivestock Improvement Corporation LimitedFinancials$1.02$2.960.34x$4.06$0.77—lowTrading 66% below composite DCF estimate
WHSThe Warehouse Group LimitedConsumer Discretionary$0.70$2.070.34x—$0.50$3.63lowTrading 66% below composite DCF estimate
ALFAllied Farmers LimitedFinancials$0.75$2.010.37x$2.01——lowTrading 63% below composite DCF estimate
APLAsset PlusReal Estate$0.19$0.490.38x$0.73$0.01—lowTrading 62% below composite DCF estimate
CVTComvita LimitedIndustrials$0.67$1.700.39x—$0.06$3.34lowTrading 61% below composite DCF estimate
ARBArborGen Holdings LimitedIndustrials$0.10$0.260.40x$0.21—$0.35mediumTrading 60% below composite DCF estimate
STUSteel & Tube Holdings LimitedMaterials$0.51$1.140.44x$1.37$0.69—mediumTrading 56% below composite DCF estimate
SDLSolution Dynamics LimitedConsumer Discretionary$0.62$1.270.49x$1.04$0.13$2.87lowTrading 51% below composite DCF estimate
FWLFoley Wines LimitedConsumer Staples$0.58$1.070.55x$1.42$0.18$1.25lowTrading 45% below composite DCF estimate
PYSPaySauce LimitedInformation Technology$0.26$0.450.57x$0.40—$0.54highTrading 43% below composite DCF estimate
2CC2 Cheap Cars Group LimitedFinancials$0.63$1.070.58x$1.53$0.14—lowTrading 42% below composite DCF estimate
NZMNZME LimitedCommunication Services$1.12$1.930.58x$1.93——lowTrading 42% below composite DCF estimate
GNEGenesis Energy LimitedUtilities$2.18$3.350.65x$2.97$0.80$6.65lowTrading 35% below composite DCF estimate
MHJMichael Hill International LimitedConsumer Discretionary$0.53$0.810.65x$0.86$0.11$1.41lowTrading 35% below composite DCF estimate
RADRadius Residential Care LimitedHealthcare$0.39$0.560.70x—$0.41$0.72mediumTrading 30% below composite DCF estimate
TWRTower LimitedFinancials$1.82$2.470.74x$2.47——lowTrading 26% below composite DCF estimate
SEKSeeka LimitedConsumer Staples$5.27$5.970.88x$1.87—$13.58lowTrading 12% below composite DCF estimate
SPKSpark New Zealand LimitedCommunication Services$2.26$2.500.90x$3.49$0.51—lowTrading 10% below composite DCF estimate
DGLDelegat Group LimitedConsumer Staples$4.33$4.590.94x—$1.27$7.91lowTrading near the composite DCF estimate
CNUChorus LimitedCommunication Services$9.24$9.730.95x—$9.73—lowTrading near the composite DCF estimate
FCGFonterra Co-operative Group LimitedConsumer Staples$6.28$6.610.95x$8.82$2.22$6.58lowTrading near the composite DCF estimate
MFBMy Food Bag Group LimitedFinancials$0.20$0.201.00x$0.25$0.09—lowTrading near the composite DCF estimate
VCTVector LimitedUtilities$4.79$4.641.03x—$3.50$5.78mediumTrading near the composite DCF estimate
THLTourism Holdings LimitedConsumer Discretionary$2.40$2.211.09x—$0.49$3.93lowTrading near the composite DCF estimate
TEMTempleton Emerging Markets Investment Trust PLCFinancials$5.92$4.871.21x$7.20$0.20—lowTrading 21% above composite DCF estimate
SANSanford LimitedConsumer Staples$7.24$5.951.22x$5.14—$7.45highTrading 22% above composite DCF estimate
PGWPGG Wrightson LimitedIndustrials$2.16$1.681.29x$0.10$0.28$6.23lowTrading 29% above composite DCF estimate
EBOEBOS Group LimitedHealthcare$22.72$17.421.30x$10.67—$29.95lowTrading 30% above composite DCF estimate
VGLVista Group International LimitedInformation Technology$1.86$1.421.31x—$0.21$2.62lowTrading 31% above composite DCF estimate
MFTMainfreight LimitedIndustrials$61.50$41.631.48x$43.95$5.38$73.22lowTrading 48% above composite DCF estimate
AFIAustralian Foundation Investment Company LimitedFinancials$8.24$5.381.53x—$5.38—lowTrading 53% above composite DCF estimate
FBUFletcher BuildingMaterials$3.41$2.221.54x$2.22——lowTrading 54% above composite DCF estimate
HLGHallenstein Glasson Holdings LimitedConsumer Discretionary$9.88$6.291.57x—$6.29—lowTrading 57% above composite DCF estimate
SCLScales Corporation LimitedIndustrials$6.15$3.621.70x$3.91$0.53$6.14lowTrading 70% above composite DCF estimate
CHIChannel Infrastructure NZ LimitedEnergy$2.70$1.581.71x—$1.58—lowTrading 71% above composite DCF estimate
BGPBriscoe Group LimitedConsumer Discretionary$4.74$2.721.74x$2.72——lowTrading 74% above composite DCF estimate
VNTVentia Services Group LimitedIndustrials$6.66$3.361.98x$3.27$1.52$5.38lowTrading 98% above composite DCF estimate
PHLPromisia Healthcare LimitedHealthcare$0.46$0.232.00x——$0.23lowTrading 100% above composite DCF estimate
OCAOceania Healthcare LimitedHealthcare$0.75$0.372.03x—$0.12$0.61lowTrading 103% above composite DCF estimate
CENContact Energy LimitedUtilities$9.31$4.462.09x$2.41$4.41$8.61lowTrading 109% above composite DCF estimate
TAHThird Age Health Services LimitedConsumer Discretionary$4.92$2.322.12x$2.69$0.40$3.48lowTrading 112% above composite DCF estimate
IFTInfratil LimitedUtilities$10.93$5.142.13x—$0.46$9.82lowTrading 113% above composite DCF estimate
HFLHenderson Far East Income LimitedFinancials$5.71$2.632.17x$2.63——lowTrading 117% above composite DCF estimate
SKCSkyCity Entertainment Group LimitedConsumer Discretionary$0.79$0.362.18x—$0.33$0.38lowTrading 118% above composite DCF estimate
CDICDL Investments New Zealand LimitedReal Estate$0.78$0.352.23x—$0.35—lowTrading 123% above composite DCF estimate
GTKGentrack Group LimitedInformation Technology$8.00$3.522.27x$1.57—$7.15lowTrading 127% above composite DCF estimate
SKTSky Network Television LimitedCommunication Services$3.40$1.502.27x—$1.50—lowTrading 127% above composite DCF estimate
MELMeridian Energy LimitedUtilities$5.55$2.102.64x$1.98$0.41$4.02lowTrading 164% above composite DCF estimate
POTPort of Tauranga LimitedIndustrials$7.95$2.742.90x——$2.74lowTrading 190% above composite DCF estimate
NPHNapier Port Holdings LimitedIndustrials$3.56$1.103.24x$1.10——lowTrading 224% above composite DCF estimate
CMOThe Colonial Motor Company LimitedConsumer Discretionary$8.25$2.223.72x—$2.22—lowTrading 272% above composite DCF estimate
FRWFreightways Group LimitedIndustrials$13.75$3.473.96x$2.69$1.90$6.60lowTrading 296% above composite DCF estimate
RYMRyman Healthcare LimitedHealthcare$2.28$0.564.07x—$0.56—lowTrading 307% above composite DCF estimate
AIAAuckland International Airport LimitedIndustrials$8.53$2.064.14x—$0.41$3.70lowTrading 314% above composite DCF estimate
ENSEnprise Group LimitedInformation Technology$0.56$0.134.31x—$0.13—lowTrading 331% above composite DCF estimate
MCYMercury NZ LimitedUtilities$6.35$1.434.44x—$1.43—lowTrading 344% above composite DCF estimate
FCTF&C INVESTMENT TRUST PLCFinancials$27.79$6.174.50x$9.04$0.43—lowTrading 350% above composite DCF estimate
FPHFisher & Paykel Healthcare Corporation LimitedHealthcare$38.85$7.934.90x$10.73$2.32—lowTrading 390% above composite DCF estimate
GXHGreen Cross Health LimitedHealthcare$1.22$0.225.55x—$0.22—lowTrading 455% above composite DCF estimate
WBCWestpac Banking CorporationFinancials$49.80$8.605.79x—$8.60—lowTrading 479% above composite DCF estimate
SPGStride Property LimitedReal Estate$1.17$0.205.85x—$0.20—lowTrading 485% above composite DCF estimate
BRMBarramundi LimitedFinancials$0.56$0.096.23x—$0.09—lowTrading 523% above composite DCF estimate
IPLInvestore Property LimitedReal Estate$1.04$0.166.53x—$0.16—lowTrading 553% above composite DCF estimate
SKOSerko LimitedIndustrials$2.06$0.306.87x$0.30——lowTrading 587% above composite DCF estimate
KFLKingfish LimitedFinancials$1.24$0.177.29x—$0.17—lowTrading 629% above composite DCF estimate
NZXNZX LimitedFinancials$1.39$0.197.32x—$0.19—lowTrading 632% above composite DCF estimate
HGHHeartland Group Holdings LimitedFinancials$1.26$0.158.43x—$0.15—lowTrading 743% above composite DCF estimate
SKLSkellerupMaterials$5.44$0.638.63x—$0.63—lowTrading 763% above composite DCF estimate
ANZANZ Group Holdings LimitedFinancials$45.90$4.699.79x$3.56$6.95—mediumTrading 879% above composite DCF estimate
GMTGoodman Property TrustReal Estate$1.93$0.1910.16x—$0.19—lowTrading 916% above composite DCF estimate
KPGKiwi PropertyReal Estate$0.95$0.0910.61x—$0.09—lowTrading 961% above composite DCF estimate
VHPVital Healthcare Property TrustReal Estate$1.89$0.1611.81x—$0.16—lowTrading 1081% above composite DCF estimate
PCTPrecinct Properties New Zealand LimitedReal Estate$1.11$0.0912.33x—$0.09—lowTrading 1133% above composite DCF estimate
SUMSummerset Group Holdings LimitedHealthcare$10.38$0.7214.42x—$0.72—lowTrading 1342% above composite DCF estimate
TRATurners Automotive GroupConsumer Discretionary$8.28$0.5415.33x—$0.54—lowTrading 1433% above composite DCF estimate
SPNSouth Port New Zealand LimitedIndustrials$9.02$0.5416.70x—$0.54—lowTrading 1570% above composite DCF estimate
MCKMillennium & Copthorne Hotels New Zealand LimitedConsumer Discretionary$3.30$0.1917.37x—$0.19—lowTrading 1637% above composite DCF estimate
MPGMetro Performance GlassReal Estate$1.37$0.0434.25x$0.04——lowTrading 3325% above composite DCF estimate
VSLVulcan Steel LimitedMaterials$7.65$0.1940.26x—$0.19—lowTrading 3926% above composite DCF estimate
WINWinton Land LimitedReal Estate$1.98$0.0366.00x—$0.03—lowTrading 6500% above composite DCF estimate
BITThe Bankers Investment Trust PLCFinancials$2.99$0.0474.75x—$0.04—lowTrading 7375% above composite DCF estimate

Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

Methodology

DCF: 2-3 year average free cash flow projected forward using historical revenue growth (capped -5% to +15%), discounted at 10% WACC with 2.5% terminal growth. Net debt subtracted from enterprise value.

DDM (Gordon Growth): Latest DPS grown at historical CAGR (capped -5% to +12%), divided by (required return - growth rate). Only applicable for dividend payers with 3+ years history.

EV/EBITDA Relative: Company EBITDA × sector median EV/EBITDA multiple, minus net debt. Excludes banks/financials. Requires 3+ sector peers.

Composite: Weighted average — DCF 50%, DDM 25%, EV/EBITDA 25% (non-dividend payers: DCF 65%, EV/EBITDA 35%).

These are automated estimates using standard financial models. They are not target prices, investment recommendations, or financial advice. Different assumptions produce materially different estimates. Visit individual company pages to adjust assumptions with interactive sliders.

Related Insights

Corporate Power Map

NZ Governance Power Index — top directors, board interlocks, auditor concentration, and multi-board analysis.

Director Network Graph

Interactive force-directed visualization of board interlocks across NZX, charities, iwi, and public sector.

Audit Independence

Auditor market concentration, tenure analysis, and director-auditor independence.