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Australian (ASX) Healthcare Sector Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies131
  • 7D3.9%
  • 3M-13.8%
  • 1Y-40.8%
  • YTD-27.8%

Over the last 7 days, the Healthcare industry has risen 3.9%, driven by gains from CSL of 12%. In the past year, the industry is down 41%. 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
Wed, 10 Jun 2026AU$155.1bAU$78.1bAU$1.8b24x85.1x2x
Fri, 08 May 2026AU$161.8bAU$77.3bAU$1.9b23.9x84.4x2.1x
Sun, 05 Apr 2026AU$169.7bAU$78.7bAU$2.0b24.5x84.8x2.2x
Tue, 03 Mar 2026AU$183.8bAU$77.8bAU$2.1b33.5x88.6x2.4x
Thu, 29 Jan 2026AU$215.9bAU$72.6bAU$4.3b32.7x50.1x3x
Sat, 27 Dec 2025AU$214.8bAU$73.8bAU$4.5b33.3x47.8x2.9x
Mon, 24 Nov 2025AU$218.1bAU$74.9bAU$4.7b31.7x46.8x2.9x
Wed, 22 Oct 2025AU$247.6bAU$74.9bAU$4.6b30.8x53.6x3.3x
Fri, 19 Sep 2025AU$235.2bAU$74.3bAU$4.5b31.5x51.9x3.2x
Sun, 17 Aug 2025AU$274.8bAU$70.3bAU$4.8b31x56.8x3.9x
Tue, 15 Jul 2025AU$258.3bAU$71.5bAU$4.2b28x60.9x3.6x
Thu, 12 Jun 2025AU$255.9bAU$71.8bAU$4.3b26.3x59.8x3.6x
Sat, 10 May 2025AU$252.4bAU$70.7bAU$4.9b27x51.6x3.6x
Mon, 07 Apr 2025AU$246.8bAU$72.3bAU$5.1b27x48x3.4x
Wed, 05 Mar 2025AU$265.3bAU$71.4bAU$5.0b29.1x53.6x3.7x
Fri, 31 Jan 2025AU$252.3bAU$68.9bAU$3.4b26.7x74.7x3.7x
Sun, 29 Dec 2024AU$246.3bAU$68.9bAU$3.4b25.8x73.1x3.6x
Tue, 26 Nov 2024AU$242.4bAU$68.0bAU$3.2b26.3x75.7x3.6x
Thu, 24 Oct 2024AU$241.5bAU$67.4bAU$3.1b25.5x77.4x3.6x
Sat, 21 Sep 2024AU$238.8bAU$66.7bAU$3.0b27.2x78.4x3.6x
Mon, 19 Aug 2024AU$241.7bAU$63.7bAU$2.9b30.7x83.8x3.8x
Wed, 17 Jul 2024AU$243.7bAU$62.5bAU$2.6b32.8x94.6x3.9x
Fri, 14 Jun 2024AU$231.0bAU$63.0bAU$2.6b31.4x87.7x3.7x
Sun, 12 May 2024AU$223.9bAU$61.2bAU$2.6b26.3x85.2x3.7x
Tue, 09 Apr 2024AU$225.2bAU$61.3bAU$2.6b27.4x85.8x3.7x
Thu, 07 Mar 2024AU$223.2bAU$61.7bAU$2.6b25.7x84.3x3.6x
Sat, 03 Feb 2024AU$233.4bAU$60.4bAU$2.8b25.6x82.3x3.9x
Mon, 01 Jan 2024AU$226.0bAU$59.7bAU$2.7b24.9x83x3.8x
Wed, 29 Nov 2023AU$202.2bAU$60.3bAU$2.9b24.9x70.8x3.4x
Fri, 27 Oct 2023AU$186.5bAU$61.5bAU$3.0b23.9x61.7x3x
Sun, 24 Sep 2023AU$200.0bAU$61.0bAU$2.9b24.9x69.1x3.3x
Tue, 22 Aug 2023AU$212.8bAU$60.6bAU$2.9b27.9x74.7x3.5x
Thu, 20 Jul 2023AU$212.2bAU$57.4bAU$2.9b27.1x74.5x3.7x
Sat, 17 Jun 2023AU$217.6bAU$57.1bAU$2.8b25.7x77.5x3.8x
Price to Earnings Ratio

77.5x


Total Market Cap: AU$217.6bTotal Earnings: AU$2.8bTotal Revenue: AU$57.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.6x202420252026
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 85.1x which is higher than its 3-year average PE of 70.6x.
  • 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 13% 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 Market-1.58%
Healthcare3.85%
Life Sciences16.62%
Biotech6.00%
Medical Equipment3.34%
Healthtech3.18%
Healthcare Services2.44%
Pharma-2.97%
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 49% 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
CSL CSLAU$102.9511.6%
+AU$5.2b		-57.3%PE25.1x
SHL Sonic HealthcareAU$20.287.9%
+AU$736.2m		-23.9%PE18.6x
COH CochlearAU$104.9310.3%
+AU$642.9m		-61.2%PE19.9x
RHC Ramsay Health CareAU$38.435.6%
+AU$466.8m		3.5%PE32.4x
TLX Telix PharmaceuticalsAU$13.5310.9%
+AU$451.4m		-47.1%PS4x

Latest News

SIG
AU$2.76
Sigma Healthcare
7D
-4.5%
1Y
-12.4%
CSL
AU$102.95
CSL
7D
11.6%
1Y
-57.3%
TLX
AU$13.53
Telix Pharmaceuticals
7D
10.9%
1Y
-47.1%
EBR
AU$0.37
EBR Systems
7D
-21.3%
1Y
-68.2%
RHC
AU$38.43
Ramsay Health Care
7D
5.6%
1Y
3.5%
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).
4DX
AU$3.65
4DMedical
7D
-3.7%
1Y
1,180.7%
Narrative Update • Jun 04

4DX: European AI Lung Imaging Entry Will Support Elevated Future Earnings Multiple

Analysts have nudged their fair value estimate for 4DMedical higher from A$4.47 to A$4.97, pointing to fine tuned assumptions around discount rates, revenue growth, profit margins and future P/E expectations as the key drivers of the updated price target. What's in the News 4DMedical has agreed to acquire Austrian medtech company contextflow, gaining a Vienna based team, European commercial and clinical infrastructure, a CE marked AI lung cancer screening platform and German insurance reimbursement contracts, according to recent news reports.
SHL
AU$20.28
Sonic Healthcare
7D
7.9%
1Y
-23.9%
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$3.37
Nanosonics
7D
6.6%
1Y
-22.5%
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$104.93
Cochlear
7D
10.3%
1Y
-61.2%
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$161.58
Pro Medicus
7D
1.2%
1Y
-42.2%
TTX
AU$5.52
Tetratherix
7D
-12.4%
1Y
n/a
NEU
AU$13.24
Neuren Pharmaceuticals
7D
-2.6%
1Y
-4.3%
REG
AU$6.03
Regis Healthcare
7D
-4.4%
1Y
-18.7%
CU6
AU$2.11
Clarity Pharmaceuticals
7D
-8.7%
1Y
-5.4%
PYC
AU$1.16
PYC Therapeutics
7D
-9.0%
1Y
-2.1%
ANN
AU$28.96
Ansell
7D
4.9%
1Y
-7.3%
Narrative Update • Mar 28

ANN: Sustainable Chemical Protection And Capital Returns Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Ansell slightly lower, trimming the price target from about A$36.47 to A$36.23 as they refresh assumptions around discount rates, long term revenue growth, profit margins and the future P/E multiple. What's in the News Announced an interim dividend of US$0.266 per share for the six months ended December 31, 2025, with an ex date of February 23, 2026, record date of February 24, 2026, and payment date of March 13, 2026 (Key Developments).