One chart released this week shows just how concentrated the value of tech companies is in the biggest players on the ASX and NZX.
New Zealand investment firm Clare Capital has compiled the market capitalisation values of all the tech companies listed on the ASX and NZX, and has concluded the two biggest companies – REA Group and Computershare — hold more than a quarter of the value, while the top 10 represent 69% of the total market cap.
“[About] 60% of companies are valued less than $US50 million,” said Clare Capital senior analyst Rhys Whiting. “Bottom 82% account for only 11% of the total market value.”
As well as REA and Computershare, the top 10 includes brands like Xero, Carsales.com, Wisetech and MYOB.
The Australia-NZ figures are comparable to international stats, which show the top 4% of publicly listed companies holding 66% of the total market cap.
Here are the charts for Australia-NZ and international public tech firms (click to enlarge):
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