Small caps steal the show: NZX’s big winners of 2025

There was action aplenty at the small end of the market in 2025. (Image: Supplied/Jacques Steenkamp)

Fri, 05 Dec 2025

Stay ahead with BusinessDesk's regular Small Cap Wrap – all the latest small cap opportunities, market trends and more.All hail the small caps.You know it's been a good year for the smalls when Forsyth Barr looks ahead at 2026 and stocks to watch can't go past the performance of the small- and mid-caps on the NZX in 2025. The numbers are compelling.The small-cap index rose 30% in the year, while the mid-cap equivalent rose 20%. Overall, the NZX50 Index rose 4%.And how did the 10 largest companies on the exchange fare? Tha...

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