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Australian (ASX) Market Analysis & Valuation

UpdatedAug 11, 2026
DataAggregated Company Financials
Companies1567
  • 7D2.6%
  • 3M5.7%
  • 1Y3.2%
  • YTD4.0%

The market is up 2.6% over the last week, with the Materials sector leading the way, up 8.7%. In the last year, the market has climbed 3.2%. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Australian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 11 Aug 2026AU$3.1tAU$1.2tAU$114.6b17.7x26.9x2.6x
Thu, 09 Jul 2026AU$2.9tAU$1.2tAU$114.5b17x25.6x2.4x
Sat, 06 Jun 2026AU$2.9tAU$1.2tAU$113.6b17.1x25.5x2.4x
Mon, 04 May 2026AU$2.9tAU$1.2tAU$112.9b17.4x26x2.5x
Wed, 01 Apr 2026AU$2.8tAU$1.2tAU$114.9b17.2x24.7x2.3x
Fri, 27 Feb 2026AU$3.1tAU$1.2tAU$110.7b20.4x27.8x2.6x
Sun, 25 Jan 2026AU$3.0tAU$1.2tAU$108.6b21.7x27.9x2.5x
Tue, 23 Dec 2025AU$3.0tAU$1.2tAU$109.8b21.6x26.9x2.5x
Thu, 20 Nov 2025AU$2.8tAU$1.2tAU$110.0b20.7x25.9x2.4x
Sat, 18 Oct 2025AU$2.9tAU$1.2tAU$103.8b21.7x28.1x2.5x
Mon, 15 Sep 2025AU$3.0tAU$1.2tAU$110.8b20.4x27x2.5x
Wed, 13 Aug 2025AU$3.0tAU$1.2tAU$104.3b18.8x28.7x2.5x
Fri, 11 Jul 2025AU$2.9tAU$1.2tAU$102.2b18.6x28.2x2.4x
Sun, 08 Jun 2025AU$2.8tAU$1.2tAU$102.6b17.9x27.7x2.4x
Tue, 06 May 2025AU$2.7tAU$1.2tAU$100.0b17.7x27.2x2.3x
Thu, 03 Apr 2025AU$2.6tAU$1.2tAU$105.0b17.3x25.1x2.2x
Sat, 01 Mar 2025AU$2.7tAU$1.2tAU$105.8b18x25.8x2.2x
Mon, 27 Jan 2025AU$2.8tAU$1.2tAU$89.5b19.3x31x2.4x
Wed, 25 Dec 2024AU$2.7tAU$1.2tAU$89.9b19.9x30.2x2.3x
Fri, 22 Nov 2024AU$2.7tAU$1.2tAU$88.2b19.6x31.1x2.4x
Sun, 20 Oct 2024AU$2.7tAU$1.2tAU$87.8b19.7x31.2x2.4x
Tue, 17 Sep 2024AU$2.7tAU$1.2tAU$87.9b19.8x30.4x2.3x
Thu, 15 Aug 2024AU$2.6tAU$1.2tAU$92.1b19.3x28.1x2.2x
Sat, 13 Jul 2024AU$2.6tAU$1.1tAU$90.8b19.4x29.1x2.3x
Mon, 10 Jun 2024AU$2.6tAU$1.2tAU$92.5b19.2x28.3x2.3x
Wed, 08 May 2024AU$2.6tAU$1.2tAU$92.9b19.9x28x2.2x
Fri, 05 Apr 2024AU$2.6tAU$1.2tAU$94.8b20.2x27.6x2.2x
Sun, 03 Mar 2024AU$2.6tAU$1.2tAU$96.8b19.8x26.8x2.2x
Tue, 30 Jan 2024AU$2.5tAU$1.2tAU$115.5b19x21.9x2.2x
Thu, 28 Dec 2023AU$2.5tAU$1.2tAU$114.3b18.8x22.2x2.2x
Sat, 25 Nov 2023AU$2.4tAU$1.2tAU$116.3b17.9x20.3x2x
Mon, 23 Oct 2023AU$2.3tAU$1.2tAU$120.0b17.6x19.4x2x
Wed, 20 Sep 2023AU$2.4tAU$1.2tAU$119.8b18x20.3x2x
Fri, 18 Aug 2023AU$2.4tAU$1.2tAU$142.9b16.8x16.9x2x
Price to Earnings Ratio

16.9x


Total Market Cap: AU$2.4tTotal Earnings: AU$142.9bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Australian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 26.4x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.1% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market2.59%
Materials8.72%
Tech7.77%
Healthcare5.87%
Telecom3.90%
Industrials1.79%
Real Estate1.04%
Consumer Staples0.88%
Consumer Discretionary0.087%
Energy-0.58%
Financials-1.07%
Utilities-2.88%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.1%, which is higher than its past year's earnings growth of 10.8% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 170x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 4.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
BHP BHP GroupAU$63.935.6%
+AU$17.3b		54.9%PE22.3xMaterials
CSL CSLAU$138.337.4%
+AU$4.5b		-47.7%PE33.4xHealthcare
EVN Evolution MiningAU$13.8217.3%
+AU$4.1b		79.7%PE21.1xMaterials
NST Northern Star ResourcesAU$22.8112.3%
+AU$3.5b		29.7%PE21xMaterials
JHX James Hardie IndustriesAU$43.1710.1%
+AU$2.3b		-0.07%PE121.2xMaterials
See more

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Latest News

NST
AU$23.01
Northern Star Resources
7D
15.6%
1Y
29.6%
JHX
AU$42.98
James Hardie Industries
7D
14.0%
1Y
-1.7%
MQG
AU$264.07
Macquarie Group
7D
3.5%
1Y
23.7%
BHP
AU$63.52
BHP Group
7D
4.6%
1Y
55.4%
WDS
AU$31.79
Woodside Energy Group
7D
-2.2%
1Y
17.7%
CSL
AU$134.47
CSL
7D
8.2%
1Y
-49.0%
Narrative Update • Aug 06

CSL: Roofing Cost Inflation And New Capacity Will Drive Tougher Repricing

Analysts have lifted their fair value estimate for Carlisle Companies (CSL) by about A$4 to roughly A$108 per share, citing updated assumptions on revenue growth, profit margins, and future P/E following recent price target revisions across the stock and related roofing peers. Analyst Commentary Recent research on Carlisle Companies highlights a mix of optimism about the stock's long term positioning alongside pockets of caution around execution, valuation, and industry headwinds.
QBE
AU$23.91
QBE Insurance Group
7D
-4.1%
1Y
13.9%
EVN
AU$13.72
Evolution Mining
7D
19.7%
1Y
78.9%
NAB
AU$41.22
National Australia Bank
7D
-0.9%
1Y
6.2%
WBC
AU$35.70
Westpac Banking
7D
-6.5%
1Y
4.1%
LYC
AU$16.50
Lynas Rare Earths
7D
17.5%
1Y
27.3%
Narrative Update • Aug 05

LYC: Western Supply Contracts And Policy Support Will Drive Undervalued Outlook

Analysts have trimmed their price target on Lynas Rare Earths to A$18.28 from A$19.86, reflecting slightly lower assumptions for revenue growth and profit margins, a modestly higher discount rate, and near-unchanged future P/E expectations. What’s in the News for Lynas Rare Earths The Pentagon is debating whether to scrap an A$80 million conditional loan offer to ReElement Technologies, according to Bloomberg, which highlights ongoing policy focus on reducing reliance on China for critical minerals that also affects companies such as Lynas Rare Earths.
CBA
AU$174.27
Commonwealth Bank of Australia
7D
-2.0%
1Y
-2.4%
Narrative Update • Aug 04

CBA: Elevated P/E Will Confront Prolonged RBA Hold And Housing Weakness

Analysts have adjusted their fair value estimate for Commonwealth Bank of Australia to A$145.20 from A$142.26, reflecting updated assumptions around discount rates, medium term revenue growth, and a slightly higher future P/E multiple. Analyst Commentary Recent commentary around Commonwealth Bank of Australia highlights how analysts are thinking about bank valuations and execution quality across global financials.
ANZ
AU$37.09
ANZ Group Holdings
7D
-0.5%
1Y
18.7%
S32
AU$5.09
South32
7D
11.1%
1Y
65.8%
Narrative Update • Jul 31

S32: Aluminum Asset Sale Will Expose Portfolio To Execution Risk

South32's updated analyst price target has been revised to A$2.86 from A$4.07, reflecting analysts' reassessment of fair value, growth expectations and margin assumptions following recent sector research and transaction commentary. Analyst Commentary Recent Street research on South32 points to a more mixed backdrop, with some analysts revisiting their assumptions on pricing, margins and execution risk following transaction news and sector updates.
TCL
AU$14.62
Transurban Group
7D
-2.3%
1Y
5.6%
New Narrative • Jul 25

Is TCL Worth the Toll?

At A$14.245 per share, Transurban Group (ASX: TCL) appears reasonably valued based on its current cash flow and distribution guidance. Transurban generated free cash of 34.8 cents per share during the first half of FY26 and maintained full-year distribution guidance of 69 cents per share.
WES
AU$89.54
Wesfarmers
7D
-1.2%
1Y
1.0%
Narrative Update • Jul 15

WES: Execution Discipline And Integration Plans Will Shape Future Pricing Confidence

Analysts have lifted their fair value estimate for Wesfarmers to A$89.00 from A$85.00, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations, even as some research houses flag a less favourable risk reward at current valuation levels. Analyst Commentary on Wesfarmers Recent research on Wesfarmers highlights a split in views, with some investors focusing on the raised A$89.00 fair value estimate while others point to more cautious commentary around the current share price.