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Australian (ASX) Healthcare Sector Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies125
  • 7D-1.2%
  • 3M-4.5%
  • 1Y-24.4%
  • YTD-1.6%

Over the last 7 days, the Healthcare industry has dropped 1.6%, driven by a pullback from Pro Medicus of 9.2%. Overall the industry is down 24% in 12 months. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 23 May 2023AU$231.6bAU$57.8bAU$2.9b27.5x80.1x4x
Thu, 20 Apr 2023AU$230.4bAU$57.1bAU$2.9b27.5x80.4x4x
Sat, 18 Mar 2023AU$221.0bAU$57.0bAU$2.9b24.9x77.5x3.9x
Mon, 13 Feb 2023AU$226.1bAU$55.3bAU$4.0b24.9x57.2x4.1x
Price to Earnings Ratio

57.2x


Total Market Cap: AU$226.1bTotal Earnings: AU$4.0bTotal Revenue: AU$55.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 69.7x202420252026
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 industry is trading at a PE ratio of 49.2x which is lower than its 3-year average PE of 69.8x.
  • The 3-year average PS ratio of 3.6x is higher than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 3.0% per year over the last three years.
  • Revenues for these companies have grown 9.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

AU Market-1.00%
Healthcare-1.17%
Healthcare Services1.10%
Biotech0.19%
Medical Equipment-2.76%
Life Sciences-4.57%
Healthtech-8.98%
Pharma-10.58%
Industry PE
  • Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 25.0%, which is lower than the prior year's growth of 62.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings growth rate of 2.4% per year.
  • In contrast, the Biotech 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$181.241.0%
+AU$887.1m		-33.6%PE20.3x
SIG Sigma HealthcareAU$3.162.3%
+AU$805.1m		11.7%PE68.6x
CUV Clinuvel PharmaceuticalsAU$11.734.3%
+AU$24.1m		1.6%PE16.3x
RHY Rhythm BiosciencesAU$0.2338.2%
+AU$21.3m		167.0%PS24.1x
LDX Lumos Diagnostics HoldingsAU$0.2610.6%
+AU$19.8m		766.7%PS11.6x

Latest News

NEU
AU$13.20
Neuren Pharmaceuticals
7D
-21.7%
1Y
-5.2%

Slammed 30% Neuren Pharmaceuticals Limited (ASX:NEU) Screens Well Here But There Might Be A Catch

Feb 05
Slammed 30% Neuren Pharmaceuticals Limited (ASX:NEU) Screens Well Here But There Might Be A Catch
SIG
AU$3.16
Sigma Healthcare
7D
2.3%
1Y
11.7%

Calculating The Fair Value Of Sigma Healthcare Limited (ASX:SIG)

Feb 05
Calculating The Fair Value Of Sigma Healthcare Limited (ASX:SIG)
TLX
AU$10.13
Telix Pharmaceuticals
7D
-8.6%
1Y
-65.2%
RHY
AU$0.23
Rhythm Biosciences
7D
38.2%
1Y
167.0%
MSB
AU$2.39
Mesoblast
7D
-7.4%
1Y
-18.2%
ANN
AU$32.37
Ansell
7D
-3.0%
1Y
-6.9%
4DX
AU$3.15
4DMedical
7D
-8.2%
1Y
494.3%

4DX: Equity Raise Will Likely Fail To Support Elevated Earnings Multiple

Analysts have trimmed their price target on 4DMedical to A$2.73, with the adjustment tied to small updates in discount rate assumptions, revenue growth forecasts, and an improved profit margin outlook. Together, these factors feed into a slightly lower future P/E expectation.
PME
AU$164.93
Pro Medicus
7D
-9.2%
1Y
-42.7%

Cloud Imaging And AI Risks Will Persist Yet Support Long Term Upside Potential

Catalysts About Pro Medicus Pro Medicus provides enterprise imaging software and radiology information systems, with a focus on cloud based, transaction priced platforms used by large health systems and academic medical centers. What are the underlying business or industry changes driving this perspective?
BOT
AU$0.12
Botanix Pharmaceuticals
7D
9.1%
1Y
-73.6%
LDX
AU$0.26
Lumos Diagnostics Holdings
7D
10.6%
1Y
766.7%

Lumos Diagnostics Holdings Limited (ASX:LDX) Stocks Pounded By 27% But Not Lagging Industry On Growth Or Pricing

Jan 27
Lumos Diagnostics Holdings Limited (ASX:LDX) Stocks Pounded By 27% But Not Lagging Industry On Growth Or Pricing
CSL
AU$181.24
CSL
7D
1.0%
1Y
-33.6%

CSL: Share Recovery Will Be Driven By Seqirus Reset And Demerger Deferral

Analysts have raised their fair value target for CSL to A$232.54. This reflects slightly adjusted assumptions for revenue growth, profit margins and future P/E multiples after recent upgrades and renewed interest in the shares.
CGS
AU$2.16
Cogstate
7D
4.9%
1Y
83.1%

CGS: New Buyback And Earnings Guidance Will Support Future Upside

Analysts have modestly adjusted their price target on Cogstate, citing slightly higher assumed revenue growth and profit margins, along with a lower future P/E multiple. Together, these factors refine their view of the stock's risk and reward profile.
COH
AU$258.74
Cochlear
7D
-1.9%
1Y
-17.3%

Investors Shouldn't Overlook Cochlear's (ASX:COH) Impressive Returns On Capital

Jan 11
Investors Shouldn't Overlook Cochlear's (ASX:COH) Impressive Returns On Capital
OCC
AU$0.95
Orthocell
7D
8.0%
1Y
-44.1%
CU6
AU$2.89
Clarity Pharmaceuticals
7D
-9.7%
1Y
-22.5%
CUV
AU$11.73
Clinuvel Pharmaceuticals
7D
4.3%
1Y
1.6%