Best New Zealand Stocks: September 2026
Quality 76: wide operating margins and high gross profitability. Momentum 71: near its 52-week high and outperforming the market over 6 months. Value 61: below book value and cheap on P/E.
September 2026 edition · data as of ·Next edition forms ·How we score stocks·All New Zealand stocks, refreshed daily
Top 25 New Zealand Stocks by StockRank
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BIT.NZ Bankers Ord NZ · Financial Services · $1.8B Quality 76: wide operating margins and high gross profitability. Momentum 71: near its 52-week high and outperforming the market over 6 months. Value 61: below book value and cheap on P/E. | Yield 1.9% | P/E 5.0 | 97 Score | 76 Q | 61 V | 71 M | Full House | |
| 2 | SKL.NZ Skellerup Holdings Limited NZ · Industrials · $856.1M Quality 87: strong free cash flow and ROIC in the top 5% of its sector. Momentum 81: near its 52-week high and estimates revised up. Value 39: far above book value. | Yield 3.9% | P/E 21.8 | 97 Score | 87 Q | 39 V | 81 M | Premium Grower | |
| 3 | FCG.NZ Fonterra Co-operative Group Limited NZ · Consumer Defensive · $6.7B Momentum 78: near its 52-week high and outperforming the market over 6 months. Value 71: a high yield and cheap on sales. Quality 53: mixed. | Yield 5.4% | P/E 11.3 | 96 Score | 53 Q | 71 V | 78 M | Full House | |
| 4 | THL.NZ Tourism Holdings Limited NZ · Consumer Cyclical · $360.5M Momentum 82: estimates revised up and near its 52-week high. Value 72: cheap on free cash flow and cheap on EV/EBITDA. Quality 46: strong free cash flow but thin interest cover. | Yield 3.8% | P/E 15.7 | 95 Score | 46 Q | 72 V | 82 M | Second Wind | |
| 5 | SKT.NZ SKY Network Television Limited NZ · Communication Services · $270.9M Value 80: a high yield and cheap on P/E. Momentum 65: near its 52-week high and estimates revised up. Quality 54: strong free cash flow but a weak F-Score 4/9. | Yield 9.5% | P/E 7.8 | 95 Score | 54 Q | 80 V | 65 M | Full House | |
| 6 | HLG.NZ Hallenstein Glasson Holdings Limited NZ · Consumer Cyclical · $443.1M Quality 80: strong free cash flow and high gross profitability. Momentum 64: near its 52-week high and outperforming the market over 6 months. Value 50: a high yield but far above book value. | Yield 4.7% | P/E 16.6 | 93 Score | 80 Q | 50 V | 64 M | Full House | |
| 7 | GNE.NZ Genesis Energy Limited NZ · Utilities · $1.9B Momentum 80: estimates revised up and near its 52-week high. Value 61: a high yield and cheap on free cash flow. Quality 49: strong free cash flow but low returns on capital. | Yield 5.6% | P/E 37.3 | 90 Score | 49 Q | 61 V | 80 M | Second Wind | |
| 8 | VNT.NZ Ventia Services Group Limited NZ · Industrials · $3.5B Quality 70: high return on equity and F-Score 4/4. Momentum 64: near its 52-week high. Value 50: cheap on sales but far above book value. | Yield 4.0% | P/E 18.8 | 87 Score | 70 Q | 50 V | 64 M | Premium Grower | |
| 9 | MFT.NZ Mainfreight Limited NZ · Industrials · $3.8B Quality 67: strong free cash flow and interest well covered. Momentum 59: near its 52-week high but estimates cut. Value 56: cheap on free cash flow. | Yield 2.6% | P/E 26.1 | 85 Score | 67 Q | 56 V | 59 M | Full House | |
| 10 | SPK.NZ Spark New Zealand Limited NZ · Communication Services · $2.1B Value 70: a high yield and cheap on P/E. Quality 59: high return on equity but high debt. Momentum 51: estimates revised up but EPS deteriorating. | Yield 8.1% | P/E 7.6 | 84 Score | 59 Q | 70 V | 51 M | Full House | |
| 11 | DGL.NZ Delegat Group Limited NZ · Consumer Defensive · $254M Value 69: below book value and a high yield. Momentum 69: near its 52-week high and outperforming the market over 6 months. Quality 41: wide operating margins but low gross profitability. | Yield 4.8% | P/E 11.5 | 84 Score | 41 Q | 69 V | 69 M | Second Wind | |
| 12 | EBO.NZ EBOS Group Limited NZ · Healthcare · $2.3B Value 69: cheap on sales and a high yield. Quality 54: high gross profitability but a tight balance sheet. Momentum 51: estimates revised up. | Yield 6.0% | P/E 14.9 | 80 Score | 54 Q | 69 V | 51 M | Full House | |
| 13 | FBU.NZ Fletcher Building Limited NZ · Basic Materials · $2.2B Momentum 67: estimates revised up and near its 52-week high. Quality 57: F-Score 7/9 but high debt. Value 50: below book value. | Yield — | P/E 19.4 | 79 Score | 57 Q | 50 V | 67 M | Full House | |
| 14 | FRW.NZ Freightways Group Limited NZ · Industrials · $1.3B Momentum 64: estimates revised up. Quality 63: strong free cash flow and high return on equity. Value 46: a high yield but far above book value. | Yield 3.7% | P/E 24.7 | 79 Score | 63 Q | 46 V | 64 M | Premium Grower | |
| 15 | TWR.NZ Tower Limited NZ · Financial Services · $387.5M Quality 71: F-Score 6/7 and ROIC in the top 20% of its sector. Value 59: valuation ratios not meaningful for a financial. Momentum 43: near its 52-week high but quarterly earnings shrinking. | Yield 10.9% | P/E 11.6 | 78 Score | 71 Q | 59 V | 43 M | Unloved Quality | |
| 16 | SAN.NZ Sanford Limited NZ · Consumer Defensive · $348.3M Value 73: cheap on P/E and cheap on EV/EBITDA. Quality 58: wide operating margins but low gross profitability. Momentum 41: EPS deteriorating. | Yield 1.6% | P/E 8.1 | 78 Score | 58 Q | 73 V | 41 M | Unloved Quality | |
| 17 | FPH.NZ Fisher & Paykel Healthcare Corporation Limited NZ · Healthcare · $15B Quality 86: ROIC in the top 5% of its sector and F-Score 8/9. Momentum 64: near its 52-week high and above its moving averages. Value 20: far above book value. | Yield 1.2% | P/E 55.9 | 77 Score | 86 Q | 20 V | 64 M | Premium Grower | |
| 18 | VCT.NZ Vector Limited NZ · Utilities · $2.6B Momentum 66: estimates revised up and near its 52-week high. Quality 55: wide operating margins but a tight balance sheet. Value 48: a high yield but expensive on sales. | Yield 5.7% | P/E 19.7 | 75 Score | 55 Q | 48 V | 66 M | Premium Grower | |
| 19 | SPG.NZ Stride Property Group NZ · Real Estate · $338.4M Value 65: cheap on EV/EBITDA and a high yield. Quality 61: wide operating margins and F-Score 7/9. Momentum 39: estimates cut. | Yield 7.5% | P/E 17.7 | 71 Score | 61 Q | 65 V | 39 M | Unloved Quality | |
| 20 | FSF.NZ Fonterra Shareholders Fund NZ · Financial Services · $504.3M Momentum 64: near its 52-week high and outperforming the market over 6 months. Quality 58: wide operating margins but low return on equity. Value 42: a high yield. | Yield 33.7% | P/E — | 70 Score | 58 Q | 42 V | 64 M | Premium Grower | |
| 21 | MCY.NZ Mercury NZ Limited NZ · Utilities · $5.6B Momentum 82: near its 52-week high and quarterly earnings growing. Quality 45: low debt but low returns on capital. Value 35: expensive on P/E. | Yield 3.9% | P/E 30.3 | 69 Score | 45 Q | 35 V | 82 M | Hot Air | |
| 22 | CEN.NZ Contact Energy Limited NZ · Utilities · $5.3B Quality 75: high gross profitability and a liquid balance sheet. Momentum 44: near its 52-week high but estimates cut. Value 42: a high yield but expensive on free cash flow. | Yield 4.5% | P/E 21.1 | 67 Score | 75 Q | 42 V | 44 M | Fallen Favourite | |
| 23 | HGH.NZ Heartland Group Holdings Limited NZ · Financial Services · $675.3M Value 59: valuation ratios not meaningful for a financial. Momentum 53: near its 52-week high but EPS deteriorating. Quality 47: mixed. | Yield 5.6% | P/E 12.4 | 66 Score | 47 Q | 59 V | 53 M | Second Wind | |
| 24 | AFT.NZ AFT Pharmaceuticals Limited NZ · Healthcare · $256.3M Momentum 63: near its 52-week high and above its moving averages. Quality 59: high gross profitability but a weak F-Score 2/9. Value 35: little or no yield. | Yield 0.6% | P/E 30.7 | 64 Score | 59 Q | 35 V | 63 M | Premium Grower | |
| 25 | NZX.NZ NZX Limited NZ · Financial Services · $281M Quality 67: ROIC in the top 10% of its sector and high gross profitability. Momentum 60: near its 52-week high. Value 30: far above book value. | Yield 4.5% | P/E 21.4 | 62 Score | 67 Q | 30 V | 60 M | Premium Grower |
Ranked by StockRank (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. StockRank is a global percentile, so the universe splits evenly into five bands by construction; a market that piles up on the right is scoring well as a whole.
Top 25 by sector
- Financial Services5
- Industrials4
- Utilities4
- Consumer Defensive3
- Healthcare3
- Communication Services2
- Other4
Share of New Zealand stocks by StockRank band
- 0-1910% / 20%
- 20-3924% / 20%
- 40-5918% / 20%
- 60-7924% / 20%
- 80-10024% / 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 79 New Zealand stocks on 2026-09-25; 52 cleared the $250M market-cap floor this list applies. The market's average StockRank is 56. 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 best New Zealand stocks to buy right now?
- The table above ranks MoatMap's top 25 NZX-listed stocks by StockRank, a composite of Quality (ROIC, F-Score, leverage), Value (P/E, EV/EBITDA, P/B, shareholder yield) and Momentum (price trend plus 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-stocks screener filtered to New Zealand.