Did an exercise to see how far the NZX10 will have to fall to get to 2009 levels from a pe and yield perspective.

From a div yield perspective, it needs to drop about 9.6%
From a pe perspective, it needs to drop about 28%




2009 2015
pe yield pe yield
Fletcher Building Ltd FBU 9.8 5.78 12.92 4.91
Spark New Zealand Ltd SPK 10.42 8.79 14.98 6.29
Auckland Intl Airport Ltd AIA 18.61 5.09 35.54 2.07
Ryman Healthcare Group Ltd RYM 13.25 3.72 28.1 1.8
Fisher & Paykel Healthcare Corporation Limited FPH 26.78 3.92 34.29 2.07
Meridian Energy Ltd MEL
SkyCity Entertainment Group SKC 12 5.78 15.2 5.05
Sky Network Television Limited SKT 18.32 3.37 11.51 5.75
Contact Energy Ltd CEN 12 4.79 15.2 9.66
Infratil Ltd IFT
15.1 5.2 21.0 4.7

Did not include IFT because it was loss making
Did not include MEL as it was not listed