PwC Cost of Capital Report

PwC's Corporate Finance team presents the December 2019 issue of the Cost of Capital Report, featuring 105 NZX-listed companies.

NZ listed equities maintained their strong performance into December, with the headline NZX-50 index trading at an all-time high. Key recent market trends have included:

• A continued downward trend in long-term government bond rates, with the 10-year government bond yield at 1.3% as at 31 December 2019.
• An increase in observed market EBITDA multiples, which displayed an average of 15.1x (compared to 12.9x as at 31 March 2019).

It should be noted that these rates are indicative and if required for a specific purpose, the PwC Corporate Finance and Capital Markets teams welcome the opportunity to provide specific tailored advice.

Full analysis is included for all 105 companies in the report below.