NZX (NZSE:NZX) ROCE %: 18.78% (As of Dec. 2025)

What is NZX ROCE %?

NZX NZSE:NZX +2.84% 90 ROCE % is 18.78% as of Dec. 2025. GuruFocus rates NZSE:NZX with a GF Score™ of 90/100 and a GF Value™ of NZ$1.56 (Fairly Valued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. NZX's annualized ROCE % for the quarter that ended in Dec. 2025 was 18.78%.

NZX (NZSE:NZX) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

NZX ROCE % Related Terms

NZX ROCE % Historical Data

* Premium members only.

The historical data trend for NZX's ROCE % 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.

NZX ROCE % Chart

NZX Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

ROCE %

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23.56

19.74

16.79

13.99

17.79

NZX Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
ROCE %	Get a 7-Day Free Trial															10.96	20.75	16.43	12.89	18.78

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NZX Ltd NZSE:NZX

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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NZX ROCE % Calculation

NZX's annualized ROCE % for the fiscal year that ended in Dec. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2024 )		(A: Dec. 2023 )		(A: Dec. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2024 )		(A: Dec. 2023 )		(A: Dec. 2024 )
	=	38.344	/	( ( (276.47 - 63.35)	+	(282.434 - 64.521) )	/ 2 )
	=	38.344	/	( (213.12	+	217.913)	/ 2 )
	=	38.344	/	215.5165
	=	17.79 %

NZX's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2025 )		(Q: Jun. 2025 )		(Q: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2025 )		(Q: Jun. 2025 )		(Q: Dec. 2025 )
	=	39.296	/	( ( (279.548 - 68.298)	+	(277.389 - 70.221) )	/ 2 )
	=	39.296	/	( ( 211.25	+	207.168 )	/ 2 )
	=	39.296	/	209.209
	=	18.78 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 18.78% mean?

NZX (NZSE:NZX) has a ROCE % of 18.78% as of Dec. 2025.

Is NZX's ROCE % too high?

NZX's current ROCE % is 18.78%. The Capital Markets industry median ROCE % is 5.67. NZX's value of 18.78% is 231.2% above this industry median. Overall, NZX has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does NZX's ROCE % compare to SPGI and CME?

NZX's ROCE % of 18.78% can be compared against companies in the Capital Markets industry. The industry median ROCE % is 5.67. NZX's value of 18.78% is 231.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Capital Markets company?

The median ROCE % among Capital Markets companies is 5.67, based on 692 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NZX's current ROCE % of 18.78% is 231.2% 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 ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Capital Markets industry, the median ROCE % is 5.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NZX's current ROCE % is 18.78%. 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 (NZSE:NZX) is currently considered Fairly Valued. The stock's GF Value™ is NZ$1.56, compared to a current price of NZ$1.45 — trading 7.1% below its estimated fair value. The current ROCE % is 18.78% and 231.2% above the Capital Markets industry median of 5.67. NZX's overall GF Score™ is 90/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For NZX (NZSE:NZX), the current ROCE % is 18.78% as of Dec. 2025. 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 (NZSE:NZX) Overvalued in 2026?

Based on GuruFocus' analysis, NZX stock appears to be undervalued. The current stock price of NZ$1.45 is trading 7.1% below its estimated GF Value™ of NZ$1.56. GuruFocus considers NZX to be Fairly Valued.

Key valuation signals for NZSE:NZX:

ROCE %: 18.78%
GF Value™: NZ$1.56 vs. price of NZ$1.45 (7.1% below fair value)
GF Score™: 90/100 with 5 warning signs
Industry Position: 231.2% above the Capital Markets median

No single metric tells the full story. See the NZSE:NZX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

NZX Business Description

Industry Financial Services Capital Markets

Comparable Companies SPGI CME MCO ICE HKSE:00388 LSE:LSEG XTER:DB1 NDAQ MSCI COIN SZSE:300033 CBOE SGX:S68 NSE:BSE XPAR:ENX BSP:B3SA3 TRU TSE:8697 TSX:X FDS

Other Exchanges NZSTF:USA 5NZ:Germany

Address 11 Cable Street, Level 2, NZX Centre, PO Box 2959, Wellington, NZL, 6011

Website https://www.nzx.com

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.

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NZ$1.45

Price

NZ$1.56

GF Value

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