Best New Zealand Stocks: November 2026
Quality 85: high gross profitability and strong free cash flow. Momentum 79: estimates revised up and above its moving averages. Value 50: a high yield but far above book value.
As of 3 Nov 2026, Hallenstein Glasson Holdings Limited (HLG.NZ) ranks first on MoatMap's November 2026 list of New Zealand stocks, with a MoatMap Score of 98/100, among stocks above its $250M market-cap floor. A research ranking, not investment advice.
November 2026 edition · data as of ·3 new, 3 out, biggest climb TWR.NZ since October·Next edition forms ·How we score stocks·How past rankings did·All New Zealand stocks, refreshed daily
Top 25 New Zealand Stocks by MoatMap Score
- New in November 2026: The a2 Milk Company Limited ATM.NZ, AFT Pharmaceuticals Limited AFT.NZ, Napier Port Holdings Limited NPH.NZ
- Dropped out: Bankers Ord BIT.NZ, Delegat Group Limited DGL.NZ, Contact Energy Limited CEN.NZ
- Biggest climbs: Tower Limited TWR.NZ #16 to #7, Heartland Group Holdings Limited HGH.NZ #22 to #13, Hallenstein Glasson Holdings Limited HLG.NZ #6 to #1
- Biggest falls: Freightways Group Limited FRW.NZ #13 to #22, Vector Limited VCT.NZ #17 to #25, Fletcher Building Limited FBU.NZ #12 to #17
What changed since October: 3 new, 3 out
- New in November 2026: The a2 Milk Company Limited ATM.NZ, AFT Pharmaceuticals Limited AFT.NZ, Napier Port Holdings Limited NPH.NZ
- Dropped out: Bankers Ord BIT.NZ, Delegat Group Limited DGL.NZ, Contact Energy Limited CEN.NZ
- Biggest climbs: Tower Limited TWR.NZ #16 to #7, Heartland Group Holdings Limited HGH.NZ #22 to #13, Hallenstein Glasson Holdings Limited HLG.NZ #6 to #1
- Biggest falls: Freightways Group Limited FRW.NZ #13 to #22, Vector Limited VCT.NZ #17 to #25, Fletcher Building Limited FBU.NZ #12 to #17
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Yield 4.8% | P/E 14.9 | 98 Score | 85 Q | 50 V | 79 M | Premium Grower | ||
| 2 | Value 73: a high yield and cheap on P/E. Momentum 69: near its 52-week high and estimates revised up. Quality 63: F-Score 9/9 and ROIC in the top 30% of its sector. | Yield 8.9% | P/E 8.3 | 96 Score | 63 Q | 73 V | 69 M | Full House | |
| 3 | Momentum 81: outperforming the market over 6 months and above its moving averages. Value 66: a high yield and cheap on P/E. Quality 58: F-Score 8/9. | Yield 5.9% | P/E 10.9 | 96 Score | 58 Q | 66 V | 81 M | Full House | |
| 4 | Value 74: a high yield and cheap on free cash flow. Quality 72: strong free cash flow and high return on equity. Momentum 53: estimates revised up but EPS deteriorating. | Yield 8.1% | P/E 7.6 | 94 Score | 72 Q | 74 V | 53 M | Full House | |
| 5 | Momentum 77: estimates revised up and near its 52-week high. Value 71: cheap on free cash flow and cheap on EV/EBITDA. Quality 51: strong free cash flow but a tight balance sheet. | Yield 3.8% | P/E 15.6 | 93 Score | 51 Q | 71 V | 77 M | Full House | |
| 6 | Quality 88: ROIC in the top 5% of its sector and F-Score 8/9. Momentum 75: estimates revised up and above its moving averages. Value 34: far above book value. | Yield 3.9% | P/E 22.6 | 93 Score | 88 Q | 34 V | 75 M | Premium Grower | |
| 7 | Quality 71: F-Score 6/7 and ROIC in the top 15% of its sector. Momentum 61: near its 52-week high and estimates revised up. Value 56: a high yield but far above book value; EV/EBITDA and P/FCF excluded. | Yield 10.2% | P/E 12.4 | 88 Score | 71 Q | 56 V | 61 M | Full House | |
| 8 | Momentum 73: near its 52-week high and estimates revised up. Quality 64: strong free cash flow and wide operating margins. Value 51: far above book value. | Yield 2.5% | P/E 27.4 | 88 Score | 64 Q | 51 V | 73 M | Full House | |
| 9 | Quality 68: high return on equity and ROIC in the top 10% of its sector. Momentum 67: near its 52-week high. Value 47: cheap on sales but far above book value. | Yield 4.1% | P/E 19.9 | 85 Score | 68 Q | 47 V | 67 M | Premium Grower | |
| 10 | Value 70: cheap on sales and a high yield. Momentum 58: estimates revised up. Quality 50: a tight balance sheet. | Yield 5.8% | P/E 15.4 | 81 Score | 50 Q | 70 V | 58 M | Full House | |
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| 11 | Momentum 70: estimates revised up and above its moving averages. Value 62: a high yield and cheap on free cash flow. Quality 46: strong free cash flow but low returns on capital. | Yield 6.2% | P/E 34.1 | 81 Score | 46 Q | 62 V | 70 M | Second Wind | |
| 12 | Value 67: cheap on P/E and cheap on EV/EBITDA. Quality 58: wide operating margins but low gross profitability. Momentum 48: estimates revised up but EPS deteriorating. | Yield 1.4% | P/E 8.9 | 78 Score | 58 Q | 67 V | 48 M | Unloved Quality | |
| 13 | Momentum 65: near its 52-week high and estimates revised up. Value 57: valuation ratios not meaningful for a financial. Quality 52: F-Score 6/7. | Yield 5.6% | P/E 12.6 | 77 Score | 52 Q | 57 V | 65 M | Full House | |
| 14 | Quality 86: ROIC in the top 5% of its sector and F-Score 8/9. Momentum 69: near its 52-week high and above its moving averages. Value 18: far above book value. | Yield 1.1% | P/E 60.3 | 77 Score | 86 Q | 18 V | 69 M | Premium Grower | |
| 15 | Momentum 75: estimates revised up and outperforming the market over 6 months. Quality 56: wide operating margins but low return on equity. Value 38: the weak leg. | Yield 30.4% | P/E — | 73 Score | 56 Q | 38 V | 75 M | Premium Grower | |
| 16 | Quality 58: wide operating margins. Value 58: cheap on EV/EBITDA. Momentum 50: estimates revised up. | Yield 7.3% | P/E 18.2 | 72 Score | 58 Q | 58 V | 50 M | Full House | |
| 17 | Momentum 63: estimates revised up and near its 52-week high. Quality 56: F-Score 7/9 but high debt. Value 47: cheap on sales but expensive on free cash flow. | Yield — | P/E 18.3 | 72 Score | 56 Q | 47 V | 63 M | Premium Grower | |
| 18 | Momentum 81: estimates revised up and quarterly earnings growing. Quality 54: low debt. Value 31: expensive on free cash flow. | Yield 4.0% | P/E 29.4 | 71 Score | 54 Q | 31 V | 81 M | Premium Grower | |
| 19 | Quality 67: ROIC in the top 10% of its sector and strong free cash flow. Momentum 65: estimates revised up and near its 52-week high. Value 30: far above book value. | Yield 4.4% | P/E 21.7 | 68 Score | 67 Q | 30 V | 65 M | Premium Grower | |
| 20 | Quality 57: high return on equity but a weak F-Score 4/9. Momentum 55: estimates revised up but EPS deteriorating. Value 51: cheap on P/E. | Yield 2.0% | P/E 11.5 | 68 Score | 57 Q | 51 V | 55 M | Full House | |
| 21 | Quality 79: strong free cash flow and ROIC in the top 10% of its sector. Momentum 59: estimates revised up. Value 24: far above book value. | Yield 2.5% | P/E 29.8 | 67 Score | 79 Q | 24 V | 59 M | Premium Grower | |
| 22 | Quality 60: strong free cash flow and high return on equity. Momentum 59: estimates revised up. Value 43: a high yield but far above book value. | Yield 3.5% | P/E 24.5 | 67 Score | 60 Q | 43 V | 59 M | Premium Grower | |
| 23 | Momentum 69: near its 52-week high and outperforming the market over 6 months. Quality 59: high gross profitability but a weak F-Score 2/9. Value 33: little or no yield. | Yield 0.5% | P/E 33.2 | 66 Score | 59 Q | 33 V | 69 M | Premium Grower | |
| 24 | Momentum 68: estimates revised up and near its 52-week high. Quality 51: wide operating margins but weak free cash flow. Value 41: a high yield but expensive on sales. | Yield 3.5% | P/E 26.4 | 65 Score | 51 Q | 41 V | 68 M | Premium Grower | |
| 25 | Quality 56: F-Score 8/9 but a tight balance sheet. Momentum 53: estimates revised up. Value 46: a high yield but expensive on sales. | Yield 5.7% | P/E 19.0 | 61 Score | 56 Q | 46 V | 53 M | Premium Grower | |
Ranked by MoatMap Score (Quality + Value + Momentum composite) at a minimum market cap of $250M. Yield and P/E are as of the data date; click a ticker for today’s price and score. A new edition is generated on the first scoring run of each month.
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How New Zealand scores
Where the top 25 come from, and how the whole New Zealand market sits against the global universe. The MoatMap Score is a global percentile, so the universe splits evenly into five bands by construction; a market with more of its stocks in the upper bands is scoring well as a whole.
Top 25 by sector
- Industrials5
- Consumer Defensive4
- Financial Services4
- Healthcare3
- Utilities3
- Communication Services2
- Other4
Share of New Zealand stocks by MoatMap Score band
- 0-197% / 20%
- 20-3922% / 20%
- 40-5921% / 20%
- 60-7922% / 20%
- 80-10028% / 20%
New Zealandall markets
A Yield Market Across the Tasman
New Zealand is a small, high-income economy whose stock market is built on things that do not move: airports, ports, power stations, retirement villages, a dairy cooperative's listed fund and the country's dominant telecom. It is a yield market, held by local retirement savers and Australian institutions, and it trades in the shadow of the ASX across the Tasman. The list below is where Quality, Value and Momentum agree.
MoatMap scored 76 New Zealand stocks on 2026-11-03; 51 cleared the $250M market-cap floor this list applies. The market's average MoatMap Score is 59. Industrials is the most represented sector in the top 10 (3 names).
The NZX is dominated by infrastructure and utilities in a way no other developed market is. Auckland International Airport, the port companies, the four listed electricity generators (Meridian, Mercury, Contact, Genesis), Spark in telecoms, the retirement-village operators (Ryman, Summerset) and the listed property trusts make up most of the index, and they share a character: regulated or quasi-regulated cash flows, high payout ratios, and sensitivity to interest rates rather than to the economic cycle. That shapes what a factor screen finds. The Quality pillar rewards the generators and the airport for their returns on capital; the Value pillar swings with the bond yield, because a market of yield stocks re-rates every time rates move; and the Momentum pillar is the one that tells you which way the rate cycle is pushing.
Beside the infrastructure sits a small group of companies that are genuinely global: Fisher & Paykel Healthcare in respiratory devices, the a2 Milk Company in infant formula, Xero (now ASX-listed) in accounting software, Mainfreight in logistics, and Fonterra's listed fund, which gives investors exposure to the world's largest dairy exporter. They score like growth companies rather than utilities and they are where the screen tends to find its Momentum. Several NZX names also list in Australia, and the two exchanges share a listing regime, so Australian banks and EBOS keep an NZX line and appear on this page where they clear the screen.
Disclosure is prompt and MoatMap reads the exchange's own feed. Directors and senior officers must file a disclosure notice for every trade in their company's shares within five trading days, with the person, the role, the shares and the consideration, and substantial product holders must notify the exchange when they cross 5%; the NZX publishes both through its announcement platform, which the feed reads directly. On-market buybacks are rare on the NZX, where companies prefer dividends and the imputation credits attached to them, so the buyback callout on this page is usually empty for structural reasons, not for lack of data.
Access is straightforward for most international brokers, and the largest names trade in Australia as well. New Zealand has no capital gains tax on shares for most investors, which is one reason the market's payout culture is so strong, and it withholds 15% on dividends paid to non-residents under most treaties (30% by default), with imputation credits that only resident holders can use. The New Zealand dollar is a liquid, commodity-linked currency that moves with dairy prices and the rate differential to the US, and it can take a large share of a year's return for an unhedged foreign holder.
Frequently Asked Questions
- What are the top-ranked New Zealand stocks right now?
- The table above ranks the top 25 NZX-listed stocks by MoatMap Score, a composite of Quality (returns on capital, cash conversion, balance sheet), Value (six price ratios, from P/E to dividend yield) and Momentum (price trend and earnings revisions). It refreshes monthly with a stated data date, and each ticker links to a full score breakdown.
- Why is the New Zealand market so dominated by utilities and infrastructure?
- The airport, the ports, the four listed electricity generators, the telecom, the retirement-village operators and the property trusts make up most of the NZX by value, and they share regulated cash flows and high payouts. That makes it a yield market whose Value scores re-rate with the bond yield rather than with the economic cycle.
- Does MoatMap track New Zealand insider trades and buybacks?
- Yes. The New Zealand feed reads the NZX announcement platform for directors' and officers' disclosure notices (person, role, shares and consideration, within five trading days) and substantial-holder filings above 5%. On-market buybacks are rare on the NZX, so the buyback side of the feed is usually quiet for structural reasons.
- Why do some Australian companies appear on this list?
- The NZX and the ASX share a listing regime and several companies keep a line on both, including the Australian banks and EBOS. They appear here where they clear the screen because the NZX line is a real listing; this page does not filter by domicile.
- How can foreigners buy New Zealand stocks, and what about the tax?
- Most international brokers offer NZX access and the largest names also trade in Australia. New Zealand has no general capital gains tax on shares, withholds 15% on dividends to non-residents under most treaties, and attaches imputation credits that only residents can use. The New Zealand dollar moves with dairy prices and rate differentials and can dominate an unhedged holder's return.
- How often does this New Zealand ranking refresh?
- A new edition forms on the first scoring run of each calendar month and the page states its data-as-of date. Underlying scores recompute nightly; for the daily view, use the ranked list filtered to New Zealand.