Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NZXNZSTF 52 EV-to-FCF is 18.40 as of Jul. 18, 2026, which is 19% below its 10-year median of 22.72. GuruFocus rates NZSTF with a GF Score™ of 52/100 and a GF Value™ of $0.89 (Fairly Valued). The stock has 6 warning signs investors should review. Among 448 Capital Markets companies, NZX ranks worse than 65.18% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, NZX's Enterprise Value is $296.31 Mil.
NZX's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $16.10 Mil. Therefore, NZX's EV-to-FCF for today is 18.40.
The historical rank and industry rank for NZX's EV-to-FCF or its related term are showing as below:
NZSTF'
s EV-to-FCF Range Over the Past 10 Years
Min: -25.15 Med: 22.72 Max: 50.64
Current: 18.86
During the past 13 years, the highest EV-to-FCF of NZX was 50.64. The lowest was -25.15. And the median was 22.72.
NZSTF's EV-to-FCF is ranked worse than 65.18% of 448
companies
in the Capital Markets industry
Industry Median: 9.91
vs NZSTF: 18.86
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-18), NZX's stock price is $0.8714.
NZX's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was $0.038. Therefore, NZX's PE Ratio (TTM) for today is 22.93.
NZX (OTCPK:NZSTF) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
NZX's share price for today is $0.8714.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. NZX's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was $0.038.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
NZX EV-to-FCF Related Terms
NZX EV-to-FCF Historical Data
* Premium members only.
The historical data trend for NZX's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Financial Data & Stock Exchanges subindustry, NZX's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NZX EV-to-FCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, NZX's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where NZX's EV-to-FCF falls into.
NZX's current Enterprise Value is $296.31 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. NZX's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $16.10 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NZX (NZSTF) has a EV-to-FCF of 18.40 as of Jul. 18, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on NZX and its competitors. This is 19% below median its historical median of 22.72. According to the industry distribution chart, NZX ranks #292 out of 448 companies in the Capital Markets industry, placing it in the top 65.2%.
Is NZX's EV-to-FCF too high?
NZX's current EV-to-FCF of 18.40 is 19% below median its 10-year median of 22.72. The Capital Markets industry median EV-to-FCF is 9.91. NZX's value of 18.40 is 85.7% above this industry median. Based on the distribution chart, NZX ranks #292 out of 448 companies in the Capital Markets industry, which is below the industry midpoint. Overall, NZX has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NZX's EV-to-FCF compare to SPGI and CME?
According to the Capital Markets industry distribution chart, NZX ranks #292 out of 448 companies for EV-to-FCF. This places NZX in the lower half of its industry. The industry median EV-to-FCF is 9.91. NZX's value of 18.40 is 85.7% above this benchmark. While the company's 10-year median is 22.72 vs. the industry median of 9.91, NZX has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Capital Markets company?
The median EV-to-FCF among Capital Markets companies is 9.91, based on 448 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NZX's current EV-to-FCF of 18.40 is 85.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on NZX and its competitors. For the Capital Markets industry, the median EV-to-FCF is 9.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NZX's current EV-to-FCF is 18.40, which is 19% below median its own 10-year median of 22.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NZX stock overvalued right now?
Based on GuruFocus' analysis, NZX (NZSTF) is currently considered Fairly Valued. The stock's GF Value™ is $0.89, compared to a current price of $0.87 — trading 2.1% below its estimated fair value. The current EV-to-FCF is 18.40, which is 19% below median its 10-year median of 22.72 and 85.7% above the Capital Markets industry median of 9.91. NZX's overall GF Score™ is 52/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For NZX (NZSTF), the current EV-to-FCF is 18.40 as of Jul. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NZX (NZSTF) Overvalued in 2026?
Based on GuruFocus' analysis, NZX stock appears to be undervalued.
The current stock price of $0.87 is trading 2.1% below its estimated GF Value™ of $0.89.
GuruFocus considers NZX to be Fairly Valued.
Key valuation signals for NZSTF:
EV-to-FCF: 18.40 (19% below median its 10-year median of 22.72)
GF Value™: $0.89 vs. price of $0.87 (2.1% below fair value)
Industry Position: 85.7% above the Capital Markets median (#292 of 448)
No single metric tells the full story. See the NZSTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NZX Ltd operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth of its markets, it provides trading, clearing, settlement, depository, and information services for its customers. The company also owns Smart, New Zealand issuer of listed Exchange Traded Funds (ETFs); KiwiSaver, investment, superannuation and insurance provider SuperLife; and diversified fund manager QuayStreet Asset Management. Its segments include Markets, Funds Management (Smart), Wealth Technologies, and Corporate. It derives majority of the revenue from Markets segment which includes Capital Markets Origination, Secondary Markets, and Information Services.
52GF Score
Get the complete analysis for NZSTF
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NZSTF has been successfully added to your 
