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Australian (ASX) Healthcare Sector Analysis

UpdatedJun 18, 2026
DataAggregated Company Financials
Companies131
  • 7D2.7%
  • 3M-6.3%
  • 1Y-38.8%
  • YTD-25.9%

Over the last 7 days, the Healthcare industry has risen 2.7%, driven by gains from CSL of 3.7%. However, the industry is down 39% over the past year. Looking forward, earnings are forecast to grow by 25% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Jun 2026AU$158.5bAU$78.0bAU$1.8b25.4x87.1x2x
Sat, 16 May 2026AU$149.0bAU$77.6bAU$1.8b23.8x82.9x1.9x
Mon, 13 Apr 2026AU$172.2bAU$78.0bAU$2.0b25.4x87.9x2.2x
Wed, 11 Mar 2026AU$179.7bAU$77.8bAU$2.0b26.3x91.9x2.3x
Fri, 06 Feb 2026AU$211.7bAU$72.7bAU$4.3b31.7x48.7x2.9x
Sun, 04 Jan 2026AU$214.5bAU$73.9bAU$4.5b33x47.6x2.9x
Tue, 02 Dec 2025AU$224.7bAU$74.5bAU$4.6b31.4x49.3x3x
Thu, 30 Oct 2025AU$221.8bAU$74.5bAU$4.6b33.8x48.7x3x
Sat, 27 Sep 2025AU$231.6bAU$74.8bAU$4.6b29.3x50.2x3.1x
Mon, 25 Aug 2025AU$245.5bAU$71.0bAU$4.7b27.3x52.3x3.5x
Wed, 23 Jul 2025AU$273.3bAU$71.8bAU$4.3b30.3x63.9x3.8x
Fri, 20 Jun 2025AU$254.6bAU$72.0bAU$4.3b25.1x59.1x3.5x
Sun, 18 May 2025AU$255.0bAU$72.2bAU$4.3b27.1x58.9x3.5x
Tue, 15 Apr 2025AU$242.5bAU$71.0bAU$4.9b26.5x49x3.4x
Thu, 13 Mar 2025AU$250.1bAU$71.2bAU$4.9b27.7x50.7x3.5x
Sat, 08 Feb 2025AU$248.1bAU$65.2bAU$3.3b26.5x74.2x3.8x
Mon, 06 Jan 2025AU$247.0bAU$68.9bAU$3.4b25.9x73.3x3.6x
Wed, 04 Dec 2024AU$250.4bAU$68.0bAU$3.2b27x78x3.7x
Fri, 01 Nov 2024AU$239.9bAU$67.7bAU$3.2b25.3x75.8x3.5x
Sun, 29 Sep 2024AU$236.6bAU$66.5bAU$3.0b25.8x79.3x3.6x
Tue, 27 Aug 2024AU$245.2bAU$65.3bAU$3.2b36.7x77.3x3.8x
Thu, 25 Jul 2024AU$246.1bAU$63.0bAU$2.7b32.1x92.7x3.9x
Sat, 22 Jun 2024AU$236.1bAU$62.8bAU$2.6b33.5x90x3.8x
Mon, 20 May 2024AU$225.3bAU$60.9bAU$2.6b26.8x87.4x3.7x
Wed, 17 Apr 2024AU$221.6bAU$62.0bAU$2.7b25.6x81.2x3.6x
Fri, 15 Mar 2024AU$223.2bAU$61.4bAU$2.6b25.6x85.6x3.6x
Sun, 11 Feb 2024AU$235.0bAU$59.2bAU$3.0b26.1x77.2x4x
Tue, 09 Jan 2024AU$223.3bAU$60.1bAU$2.8b24.5x79.8x3.7x
Thu, 07 Dec 2023AU$210.4bAU$60.5bAU$2.9b24.8x73.2x3.5x
Sat, 04 Nov 2023AU$193.6bAU$60.9bAU$2.9b24.4x65.8x3.2x
Mon, 02 Oct 2023AU$200.1bAU$61.1bAU$2.9b24.9x68.9x3.3x
Wed, 30 Aug 2023AU$210.2bAU$61.5bAU$2.9b29x71.3x3.4x
Fri, 28 Jul 2023AU$213.7bAU$57.4bAU$2.8b27.5x75.3x3.7x
Sun, 25 Jun 2023AU$217.4bAU$57.7bAU$2.9b25.5x75.3x3.8x
Price to Earnings Ratio

75.3x


Total Market Cap: AU$217.4bTotal Earnings: AU$2.9bTotal Revenue: AU$57.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.7x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 87.1x which is higher than its 3-year average PE of 70.7x.
  • The 3-year average PS ratio of 3.4x is higher than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 14% per year over the last three years.
  • Meanwhile revenues for these companies have grown 11% 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 Market3.70%
Healthcare2.72%
Healthtech4.10%
Biotech3.85%
Medical Equipment3.11%
Healthcare Services1.16%
Pharma0.52%
Life Sciences-6.61%
Industry PE
  • Investors are most optimistic about the Healthtech industry even though it's trading below its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 3.9%, which is lower than the prior year's growth of 92.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 50% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 3.9% 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
SIG Sigma HealthcareAU$2.814.5%
+AU$1.4b		-12.5%PE53.9x
COH CochlearAU$114.2911.1%
+AU$745.5m		-60.4%PE21.6x
PME Pro MedicusAU$167.613.0%
+AU$503.5m		-38.8%PE74.6x
CSL CSLAU$108.080.8%
+AU$407.1m		-54.7%PE26.1x
TLX Telix PharmaceuticalsAU$14.326.3%
+AU$288.5m		-42.7%PS4.3x

Latest News

SIG
AU$2.81
Sigma Healthcare
7D
4.5%
1Y
-12.5%
CSL
AU$108.08
CSL
7D
0.8%
1Y
-54.7%
Analysis Article • Jun 16

CSL (ASX:CSL) Shares Could Be 31.5% Undervalued Before Full Year Results

CSL (ASX:CSL) is back in focus after a sharp share price rebound, with investors weighing the upcoming August 18 full-year results and dividend announcement against recent guidance cuts and asset impairments. See our latest analysis for CSL. The recent rebound has lifted CSL’s 7 day share price return to 6.8% and its 30 day share price return to 8.5%. However, its year to date share price return is still down 38.2% and the 1 year total shareholder return has declined 54.5%. This indicates...
PYC
AU$1.45
PYC Therapeutics
7D
22.5%
1Y
27.9%
TLX
AU$14.32
Telix Pharmaceuticals
7D
6.3%
1Y
-42.7%
MAP
AU$0.037
Microba Life Sciences
7D
-41.3%
1Y
-67.8%
VFY
AU$2.76
Vitrafy Life Sciences
7D
-27.4%
1Y
109.1%
AYA
AU$4.64
Artrya
7D
-1.3%
1Y
592.5%
4DX
AU$3.86
4DMedical
7D
6.3%
1Y
1,444.0%
EMV
AU$1.51
EMVision Medical Devices
7D
-5.6%
1Y
-14.2%
PGC
AU$0.14
Paragon Care
7D
-9.7%
1Y
-65.4%
Narrative Update • Jun 09

PGC: Steady Assumptions And Lower Multiple Will Support Future Share Upside

Analysts have trimmed their fair value estimate for Paragon Care from A$0.32 to A$0.25, reflecting updated assumptions around profit margins and a lower future P/E multiple, while keeping other key inputs broadly unchanged. What's in the News No recent company-specific news, periodical coverage, or key developments were provided for Paragon Care.
RHC
AU$39.30
Ramsay Health Care
7D
3.1%
1Y
8.7%
Narrative Update • Jun 04

RHC: Dividend Strength And Potential UK Exit Will Support Future Upside

Analysts have trimmed their price target for Ramsay Health Care slightly to A$42.65 from A$43.04, reflecting updated assumptions around discount rates, revenue growth, profit margins and forward P/E multiples. What's in the News Ramsay Health Care Limited announced an actual fully franked ordinary dividend of A$3.36080000 per share for the six months ending October 19, 2026, payable on October 20, 2026, with an ex date of September 29, 2026 and a record date of September 30, 2026 (Key Developments).
SHL
AU$19.84
Sonic Healthcare
7D
-2.2%
1Y
-24.5%
Narrative Update • Jun 04

SHL: Companion Diagnostics Partnership And Dividend Are Expected To Support Re Rating

Analysts have trimmed their price target for Sonic Healthcare by A$0.20 to reflect slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margin and future P/E, while keeping the overall thesis broadly intact. What's in the News CellCarta and Sonic Healthcare USA have entered into a partnership to commercialize companion diagnostics through Sonic Healthcare's clinical laboratory network, with a focus on oncology, autoimmune disease and other precision medicine settings.
NAN
AU$3.22
Nanosonics
7D
-3.0%
1Y
-21.5%
Narrative Update • Jun 03

NAN: Stable Outlook And Improved Assumptions Will Support Future Upside Potential

Analysts have kept their A$5.43 price target on Nanosonics steady, citing relatively unchanged fair value estimates. These are supported by small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions.
COH
AU$114.29
Cochlear
7D
11.1%
1Y
-60.4%
Narrative Update • Jun 03

COH: Margin Resilience And Temporary Volume Weaknesses Will Support Future Upside

The analyst price target for Cochlear has eased slightly from about A$126.08 to A$124.60, as analysts factor in more moderate revenue growth expectations alongside marginally stronger profit margins and a slightly lower assumed future P/E, following mixed recent research views. Analyst Commentary Bullish Takeaways Bullish analysts see room for upside if Cochlear can deliver on revenue expectations while maintaining the marginally stronger profit margins now being reflected in models.
PME
AU$167.61
Pro Medicus
7D
3.0%
1Y
-38.8%
MYX
AU$2.36
Mayne Pharma Group
7D
-4.1%
1Y
-54.6%
New Narrative • May 01

Women’s Health Trends And Dermatology Platform Will Reshape Long-Term Earnings Profile

Catalysts About Mayne Pharma Group Mayne Pharma Group focuses on branded and specialty pharmaceutical products in Women's Health, Dermatology and International markets. What are the underlying business or industry changes driving this perspective?