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Australian (ASX) Healthcare Sector Analysis

UpdatedAug 25, 2026
DataAggregated Company Financials
Companies129
  • 7D9.5%
  • 3M35.3%
  • 1Y-19.4%
  • YTD-6.7%

Over the last 7 days, the Healthcare industry has risen 9.5%, driven by gains from CSL of 10%. During this same period, the Sonic Healthcare underperformed, falling 11%. In contrast, the industry has lost 19% in the last 12 months. Looking forward, earnings are forecast to grow by 28% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 25 Aug 2026AU$199.3bAU$79.0b-AU$3,428,816,364.0031.1x-58.1x2.5x
Thu, 23 Jul 2026AU$167.0bAU$78.2bAU$2.0b26.8x85.5x2.1x
Sat, 20 Jun 2026AU$162.8bAU$78.2bAU$2.0b25.6x82.9x2.1x
Mon, 18 May 2026AU$149.0bAU$77.7bAU$1.8b23.9x82.7x1.9x
Wed, 15 Apr 2026AU$172.6bAU$77.8bAU$2.0b25.7x88.5x2.2x
Fri, 13 Mar 2026AU$175.4bAU$77.8bAU$2.0b24.8x89.9x2.3x
Sun, 08 Feb 2026AU$208.1bAU$72.6bAU$4.3b31.1x48.1x2.9x
Tue, 06 Jan 2026AU$213.3bAU$73.9bAU$4.5b33.4x47.3x2.9x
Thu, 04 Dec 2025AU$222.0bAU$74.3bAU$4.5b33.8x49.1x3x
Sat, 01 Nov 2025AU$225.2bAU$74.8bAU$4.6b33.7x49x3x
Mon, 29 Sep 2025AU$231.5bAU$74.7bAU$4.6b29.5x50.4x3.1x
Wed, 27 Aug 2025AU$245.5bAU$71.5bAU$4.7b31.9x52.5x3.4x
Fri, 25 Jul 2025AU$276.4bAU$71.4bAU$4.2b31.4x65.6x3.9x
Sun, 22 Jun 2025AU$255.3bAU$71.9bAU$4.3b25.3x59.5x3.6x
Tue, 20 May 2025AU$254.2bAU$72.0bAU$4.3b27x59.1x3.5x
Thu, 17 Apr 2025AU$243.1bAU$70.8bAU$4.9b27.2x49.5x3.4x
Sat, 15 Mar 2025AU$252.2bAU$71.1bAU$4.9b27.8x51.3x3.5x
Mon, 10 Feb 2025AU$248.1bAU$65.2bAU$3.4b30.2x74x3.8x
Wed, 08 Jan 2025AU$249.7bAU$68.7bAU$3.3b26.5x75x3.6x
Fri, 06 Dec 2024AU$250.0bAU$68.3bAU$3.2b27.1x77.2x3.7x
Sun, 03 Nov 2024AU$236.2bAU$67.8bAU$3.2b25.2x74.4x3.5x
Tue, 01 Oct 2024AU$238.0bAU$66.5bAU$3.0b28.9x79.9x3.6x
Thu, 29 Aug 2024AU$243.6bAU$65.2bAU$3.1b35.4x78x3.7x
Sat, 27 Jul 2024AU$244.4bAU$63.1bAU$2.7b32.1x91.4x3.9x
Mon, 24 Jun 2024AU$236.1bAU$62.8bAU$2.6b33.5x89.8x3.8x
Wed, 22 May 2024AU$222.0bAU$61.0bAU$2.6b27.9x85.7x3.6x
Fri, 19 Apr 2024AU$216.9bAU$61.9bAU$2.7b25.9x79.8x3.5x
Sun, 17 Mar 2024AU$221.8bAU$61.6bAU$2.6b26x83.7x3.6x
Tue, 13 Feb 2024AU$228.3bAU$59.2bAU$3.0b25.8x75x3.9x
Thu, 11 Jan 2024AU$227.2bAU$60.0bAU$2.8b24.5x81.5x3.8x
Sat, 09 Dec 2023AU$210.2bAU$60.4bAU$2.9b24.8x73.5x3.5x
Mon, 06 Nov 2023AU$193.6bAU$60.7bAU$2.9b24.4x66.6x3.2x
Wed, 04 Oct 2023AU$197.9bAU$61.3bAU$2.9b24.9x67.3x3.2x
Fri, 01 Sep 2023AU$214.0bAU$61.3bAU$2.6b27.8x83.7x3.5x
Price to Earnings Ratio

83.7x


Total Market Cap: AU$214.0bTotal Earnings: AU$2.6bTotal Revenue: AU$61.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.8x202420252026
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 8.8% 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 Market0.24%
Healthcare9.50%
Biotech20.87%
Healthtech9.05%
Medical Equipment4.73%
Pharma-1.64%
Healthcare Services-2.57%
Life Sciences-6.30%
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 9.7%, which is lower than the prior year's growth of 38.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 42% over the next 5 years.
  • However this is lower than its past earnings growth rate of 84% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 9.7% 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$173.6410.0%
+AU$7.6b		-19.3%PS3.8x
ANN AnsellAU$41.3616.6%
+AU$813.0m		19.6%PE19.7x
4DX 4DMedicalAU$3.883.2%
+AU$72.0m		611.9%PS400.4x
IDX Integral DiagnosticsAU$2.406.2%
+AU$52.1m		-21.3%PE63.7x
CGS CogstateAU$3.0311.0%
+AU$51.0m		68.3%PE30.9x

Latest News

NAN
AU$3.05
Nanosonics
7D
-16.0%
1Y
-35.5%
IDX
AU$2.40
Integral Diagnostics
7D
6.2%
1Y
-21.3%
EBR
AU$0.30
EBR Systems
7D
13.0%
1Y
-77.2%
ANN
AU$41.36
Ansell
7D
16.6%
1Y
19.6%
MSB
AU$2.35
Mesoblast
7D
-2.1%
1Y
-4.5%
COH
AU$137.84
Cochlear
7D
-2.4%
1Y
-54.2%
SHL
AU$20.44
Sonic Healthcare
7D
-11.2%
1Y
-14.3%
PME
AU$190.60
Pro Medicus
7D
-3.1%
1Y
-37.0%
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$6.74
Tetratherix
7D
11.6%
1Y
61.2%
TLX
AU$16.16
Telix Pharmaceuticals
7D
-3.6%
1Y
-14.6%
CSL
AU$173.64
CSL
7D
10.0%
1Y
-19.3%
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.
CGS
AU$3.03
Cogstate
7D
11.0%
1Y
68.3%
4DX
AU$3.88
4DMedical
7D
3.2%
1Y
611.9%
RHC
AU$44.36
Ramsay Health Care
7D
-0.6%
1Y
16.1%
Narrative Update • Aug 14

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

The analyst price target for Ramsay Health Care has been revised slightly higher to A$43.96 from A$42.65, with analysts citing small updates to the discount rate, revenue growth, profit margin and future P/E assumptions to support the change. What’s in the News for Ramsay Health Care No recent Ramsay Health Care news items were available from the specified sources as of 14 Aug 2026.
PAR
AU$0.23
Paradigm Biopharmaceuticals
7D
25.0%
1Y
-22.4%
SIG
AU$2.86
Sigma Healthcare
7D
-1.4%
1Y
1.4%