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Australian (ASX) Healthcare Sector Analysis

UpdatedAug 29, 2026
DataAggregated Company Financials
Companies131
  • 7D-0.3%
  • 3M32.0%
  • 1Y-18.2%
  • YTD-7.4%

In the last week, the Healthcare industry is flat overall, with Sigma Healthcare standing out by going down 7.6%. As for the longer term, the industry has declined 18% in the last year. As for the next few years, earnings are expected to grow by 29% per annum.

Sector Valuation and Performance

Has the Australian Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 29 Aug 2026AU$200.3bAU$80.3b-AU$3,292,090,006.0132.1x-60.8x2.5x
Mon, 27 Jul 2026AU$163.1bAU$78.2bAU$2.0b26.8x83.3x2.1x
Wed, 24 Jun 2026AU$160.0bAU$78.4bAU$2.0b24.6x80.8x2x
Fri, 22 May 2026AU$150.2bAU$77.8bAU$1.8b23.9x83.1x1.9x
Sun, 19 Apr 2026AU$175.6bAU$77.6bAU$1.9b26.7x90.5x2.3x
Tue, 17 Mar 2026AU$174.0bAU$78.3bAU$2.0b24.8x87.7x2.2x
Thu, 12 Feb 2026AU$203.7bAU$72.0bAU$2.0b33.2x101.2x2.8x
Sat, 10 Jan 2026AU$214.3bAU$73.9bAU$4.5b31.4x47.5x2.9x
Mon, 08 Dec 2025AU$222.8bAU$74.2bAU$4.3b33.5x52.2x3x
Wed, 05 Nov 2025AU$222.4bAU$74.9bAU$4.6b32.9x48.1x3x
Fri, 03 Oct 2025AU$240.5bAU$74.5bAU$4.6b30.5x52.8x3.2x
Sun, 31 Aug 2025AU$244.2bAU$74.2bAU$4.6b31.6x53.2x3.3x
Tue, 29 Jul 2025AU$277.4bAU$71.7bAU$4.3b31.1x65x3.9x
Thu, 26 Jun 2025AU$253.8bAU$71.8bAU$4.3b25.2x59.3x3.5x
Sat, 24 May 2025AU$257.4bAU$71.9bAU$4.3b27.3x60x3.6x
Mon, 21 Apr 2025AU$242.4bAU$70.8bAU$4.9b26.9x49.4x3.4x
Wed, 19 Mar 2025AU$253.1bAU$70.8bAU$4.9b27.8x51.9x3.6x
Fri, 14 Feb 2025AU$239.5bAU$66.3bAU$3.6b28x66.6x3.6x
Sun, 12 Jan 2025AU$250.1bAU$69.2bAU$3.4b26.3x73.2x3.6x
Tue, 10 Dec 2024AU$249.3bAU$68.2bAU$3.2b26.9x77x3.7x
Thu, 07 Nov 2024AU$239.6bAU$67.8bAU$3.2b25.6x75.5x3.5x
Sat, 05 Oct 2024AU$241.0bAU$66.7bAU$3.0b30.4x79.8x3.6x
Mon, 02 Sep 2024AU$243.4bAU$66.1bAU$3.2b25.6x75.8x3.7x
Wed, 31 Jul 2024AU$244.9bAU$63.2bAU$2.7b28.9x91.2x3.9x
Fri, 28 Jun 2024AU$236.1bAU$62.7bAU$2.6b32.1x90.1x3.8x
Sun, 26 May 2024AU$223.7bAU$61.1bAU$2.6b27.5x85.4x3.7x
Tue, 23 Apr 2024AU$215.4bAU$61.9bAU$2.7b25.9x78.8x3.5x
Thu, 21 Mar 2024AU$220.2bAU$61.8bAU$2.7b26.1x82.4x3.6x
Sat, 17 Feb 2024AU$223.4bAU$60.5bAU$3.5b25.8x64.1x3.7x
Mon, 15 Jan 2024AU$226.9bAU$60.1bAU$2.8b24.5x81x3.8x
Wed, 13 Dec 2023AU$212.7bAU$60.4bAU$2.9b24.9x74.2x3.5x
Fri, 10 Nov 2023AU$200.4bAU$61.1bAU$3.0b24.4x67.5x3.3x
Sun, 08 Oct 2023AU$198.7bAU$61.2bAU$2.9b24.9x67.8x3.2x
Tue, 05 Sep 2023AU$209.8bAU$61.1bAU$2.8b26.3x74.3x3.4x
Price to Earnings Ratio

74.3x


Total Market Cap: AU$209.8bTotal Earnings: AU$2.8bTotal Revenue: AU$61.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • Total earnings for the Healthcare industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 9.6% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Australian Healthcare sector?

AU Market0.22%
Healthcare-0.26%
Medical Equipment2.79%
Biotech2.28%
Healthcare Services-2.91%
Pharma-4.50%
Healthtech-4.78%
Life Sciences-5.93%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry even though it's trading below its 3-year average PE ratio of 172x.
    • Analysts are expecting annual earnings growth of 13.5%, which is lower than the prior year's growth of 26.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 44% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 13% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CSL CSLAU$172.322.4%
+AU$1.9b		-19.1%PS3.8x
RHC Ramsay Health CareAU$51.5314.5%
+AU$1.5b		52.0%PE37.8x
ANN AnsellAU$40.9917.4%
+AU$842.1m		20.8%PE19.6x
PYC PYC TherapeuticsAU$2.258.7%
+AU$177.0m		75.8%PS107.6x
MSB MesoblastAU$2.464.2%
+AU$126.4m		12.8%PS19.1x

Latest News

4DX
AU$3.64
4DMedical
7D
-5.0%
1Y
538.6%
RHC
AU$51.53
Ramsay Health Care
7D
14.5%
1Y
52.0%
ONE
AU$0.20
Oneview Healthcare
7D
14.7%
1Y
-13.3%
CUV
AU$8.47
Clinuvel Pharmaceuticals
7D
-18.7%
1Y
-20.5%
MSB
AU$2.46
Mesoblast
7D
4.2%
1Y
12.8%
NEU
AU$20.45
Neuren Pharmaceuticals
7D
-8.9%
1Y
7.6%
SIG
AU$2.68
Sigma Healthcare
7D
-7.6%
1Y
-14.1%
New Narrative • Aug 27

GLP-1 Demand And Store Expansion Will Shape Margins And Earnings Trajectory

Catalysts About Sigma Healthcare Sigma Healthcare operates a pharmacy wholesale, distribution and franchise network across Australia and selected international markets, including Chemist Warehouse, Amcal and Discount Drug Stores. What are the underlying business or industry changes driving this perspective?
NAN
AU$2.73
Nanosonics
7D
-24.8%
1Y
-39.1%
Narrative Update • Aug 26

NAN: Share Buybacks And Lower Profitability Assumptions Will Shape Future Performance

Analysts have trimmed their 12 month price target for Nanosonics from A$3.60 to A$3.00, citing updated assumptions for lower revenue growth, reduced profit margins and a higher expected P/E multiple, which together point to a more conservative fair value profile. What’s in the News for Nanosonics Nanosonics has announced a share repurchase program, with plans to buy back up to A$40 million of its shares as part of its capital management approach.
REG
AU$6.10
Regis Healthcare
7D
-4.5%
1Y
-22.3%
ANN
AU$40.99
Ansell
7D
17.4%
1Y
20.8%
COH
AU$136.10
Cochlear
7D
0.5%
1Y
-54.9%
SHL
AU$20.04
Sonic Healthcare
7D
-4.9%
1Y
-16.7%
PME
AU$181.48
Pro Medicus
7D
-5.3%
1Y
-39.3%
Narrative Update • Aug 21

PME: US Market Share Assumptions Will Likely Trigger Future Share Price Reset

Analysts have lifted their price target for Pro Medicus to A$192.60, up from A$147, while flagging that current market pricing already reflects a very large assumed gain in US PACS market share by FY35E. What’s in the News for Pro Medicus Pro Medicus signed a 7 year A$23 million contract with St. Luke's Health System in the United States to deploy its cloud based Visage 7 Enterprise Imaging Platform across three states, including Boise, Idaho.
TTX
AU$6.93
Tetratherix
7D
11.8%
1Y
66.2%
CSL
AU$172.32
CSL
7D
2.4%
1Y
-19.1%
Narrative Update • Aug 20

CSL: Roofing Restructuring And Owens Corning Optionality Will Shape Earnings Path

Analysts have lifted their fair value estimate for Carlisle (CSL) to A$163.95 from A$138.19, reflecting updated assumptions on the discount rate, slightly higher profit margins and a higher future P/E multiple. They are also factoring in recent research that adjusts expectations around roofing demand, input costs and potential Owens Corning deal scenarios.
PYC
AU$2.25
PYC Therapeutics
7D
8.7%
1Y
75.8%