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Australian (ASX) Healthcare Sector Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies125
  • 7D-1.0%
  • 3M-6.0%
  • 1Y-24.8%
  • YTD-2.6%

Over the last 7 days, the Healthcare industry has dropped 1.0%, driven by a pullback from CSL of 3.8%. Overall the industry is down 25% 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
Wed, 11 Feb 2026AU$209.6bAU$72.5bAU$4.3b31.8x48.6x2.9x
Fri, 09 Jan 2026AU$214.8bAU$73.9bAU$4.5b31.3x47.7x2.9x
Sun, 07 Dec 2025AU$222.8bAU$74.2bAU$4.3b33.5x51.3x3x
Tue, 04 Nov 2025AU$222.4bAU$74.7bAU$4.6b32.9x48.5x3x
Thu, 02 Oct 2025AU$234.8bAU$74.5bAU$4.6b29.8x51.6x3.2x
Sat, 30 Aug 2025AU$244.2bAU$74.3bAU$4.6b29.2x53.3x3.3x
Mon, 28 Jul 2025AU$275.2bAU$71.5bAU$4.2b31x64.9x3.8x
Wed, 25 Jun 2025AU$255.6bAU$71.8bAU$4.3b25.3x59.8x3.6x
Fri, 23 May 2025AU$256.9bAU$72.1bAU$4.3b27.1x59.5x3.6x
Sun, 20 Apr 2025AU$242.4bAU$70.8bAU$4.9b26.9x49.4x3.4x
Tue, 18 Mar 2025AU$253.0bAU$70.9bAU$4.9b27.7x51.8x3.6x
Thu, 13 Feb 2025AU$241.5bAU$66.2bAU$3.6b28.4x67.6x3.6x
Sat, 11 Jan 2025AU$249.7bAU$69.1bAU$3.4b26.3x73.7x3.6x
Mon, 09 Dec 2024AU$249.1bAU$68.4bAU$3.3b26.8x76.2x3.6x
Wed, 06 Nov 2024AU$237.6bAU$67.5bAU$3.1b25.2x75.8x3.5x
Fri, 04 Oct 2024AU$241.0bAU$66.7bAU$3.0b28.3x79.9x3.6x
Sun, 01 Sep 2024AU$243.4bAU$66.1bAU$3.2b25.6x75.8x3.7x
Tue, 30 Jul 2024AU$246.7bAU$63.1bAU$2.7b30.9x92.1x3.9x
Thu, 27 Jun 2024AU$236.8bAU$62.7bAU$2.6b32.5x90.3x3.8x
Sat, 25 May 2024AU$223.7bAU$61.2bAU$2.6b27.5x85.1x3.7x
Mon, 22 Apr 2024AU$215.4bAU$61.9bAU$2.7b25.9x78.8x3.5x
Wed, 20 Mar 2024AU$220.5bAU$61.8bAU$2.7b25.9x82.5x3.6x
Fri, 16 Feb 2024AU$223.6bAU$60.6bAU$3.5b25.8x64x3.7x
Sun, 14 Jan 2024AU$226.9bAU$60.1bAU$2.8b24.5x81x3.8x
Tue, 12 Dec 2023AU$211.1bAU$60.5bAU$2.9b24.9x73.3x3.5x
Thu, 09 Nov 2023AU$198.1bAU$61.0bAU$2.9b24.4x67.2x3.2x
Sat, 07 Oct 2023AU$198.7bAU$61.3bAU$2.9b24.9x67.5x3.2x
Mon, 04 Sep 2023AU$210.8bAU$61.2bAU$2.8b27x74.7x3.4x
Wed, 02 Aug 2023AU$214.3bAU$57.8bAU$2.9b26.7x73.6x3.7x
Fri, 30 Jun 2023AU$217.2bAU$57.8bAU$2.9b27x74.7x3.8x
Sun, 28 May 2023AU$229.6bAU$58.2bAU$3.0b27.8x77.8x3.9x
Tue, 25 Apr 2023AU$233.8bAU$57.2bAU$2.9b27.5x81.4x4.1x
Thu, 23 Mar 2023AU$221.3bAU$57.1bAU$2.9b24.9x77.5x3.9x
Sat, 18 Feb 2023AU$226.3bAU$56.3bAU$3.3b24.9x67.7x4x
Price to Earnings Ratio

67.7x


Total Market Cap: AU$226.3bTotal Earnings: AU$3.3bTotal Revenue: AU$56.3bTotal 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 48.6x which is lower than its 3-year average PE of 69.7x.
  • 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 4.7% per year over the last three years.
  • Revenues for these companies have grown 8.5% 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 Market0.49%
Healthcare-1.03%
Biotech1.23%
Life Sciences0.016%
Healthcare Services-0.42%
Medical Equipment-3.89%
Pharma-7.20%
Healthtech-7.64%
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 25.2%, 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 47% 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
RHC Ramsay Health CareAU$37.133.0%
+AU$248.3m		6.9%PE1255.5x
CU6 Clarity PharmaceuticalsAU$3.2710.5%
+AU$115.3m		-5.5%PS128.6x
RAC Racura OncologyAU$2.458.9%
+AU$36.4m		97.6%PS73.6x
ANN AnsellAU$32.910.5%
+AU$21.4m		-11.1%PE32.6x
CUV Clinuvel PharmaceuticalsAU$11.623.7%
+AU$20.6m		2.4%PE16.1x

Latest News

CSL
AU$171.39
CSL
7D
-3.8%
1Y
-33.3%
ANN
AU$32.91
Ansell
7D
0.5%
1Y
-11.1%

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Analysts have nudged their fair value estimate for Ansell slightly lower to A$36.28 from A$36.44. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations.
COH
AU$256.90
Cochlear
7D
-3.7%
1Y
-14.9%

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Feb 06
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NEU
AU$13.51
Neuren Pharmaceuticals
7D
-7.7%
1Y
1.5%

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Feb 05
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SIG
AU$3.09
Sigma Healthcare
7D
-1.6%
1Y
10.8%

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Feb 05
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RHC
AU$37.13
Ramsay Health Care
7D
3.0%
1Y
6.9%

RHC: CFO Appointment Will Support Risk Management While Outlook Remains Measured

Analysts have trimmed their price targets on Ramsay Health Care, reflecting a modest reset based on small tweaks to discount rate, revenue growth, profit margin and forward P/E assumptions following the latest sector views. Analyst Commentary Bearish analysts are treating the latest sector views as a reason to be more cautious on Ramsay Health Care, with price target resets framed around more conservative assumptions rather than any single headline event.
MSB
AU$2.50
Mesoblast
7D
0.4%
1Y
-16.1%
SHL
AU$21.82
Sonic Healthcare
7D
-4.2%
1Y
-23.5%

Radiology And Genetics Demand Will Transform This Diagnostics Consolidator Over The Next Decade

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4DX
AU$3.55
4DMedical
7D
-4.1%
1Y
617.2%

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$167.66
Pro Medicus
7D
-5.6%
1Y
-42.5%

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
9.5%
1Y
-76.8%
REG
AU$6.57
Regis Healthcare
7D
-4.2%
1Y
0%
RAC
AU$2.45
Racura Oncology
7D
8.9%
1Y
97.6%
EBR
AU$0.85
EBR Systems
7D
5.6%
1Y
-50.0%
CU6
AU$3.27
Clarity Pharmaceuticals
7D
10.5%
1Y
-5.5%
CUV
AU$11.62
Clinuvel Pharmaceuticals
7D
3.7%
1Y
2.4%