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Australian (ASX) Healthcare Sector Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies129
  • 7D4.3%
  • 3M0.3%
  • 1Y-33.3%
  • YTD-17.7%

In the last week, the Healthcare industry is up 4.3%, with CSL up 5.0%. In the past year, the industry is down 33%. Looking forward, earnings are forecast to grow by 22% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Jul 2026AU$175.6bAU$78.3bAU$2.0b27.9x89.4x2.2x
Fri, 05 Jun 2026AU$149.5bAU$77.7bAU$1.8b23.3x82.8x1.9x
Sun, 03 May 2026AU$162.5bAU$77.5bAU$1.9b27x84.1x2.1x
Tue, 31 Mar 2026AU$170.1bAU$78.8bAU$2.0b25.4x84.7x2.2x
Thu, 26 Feb 2026AU$183.7bAU$73.3bAU$2.1b25.2x85.5x2.5x
Sat, 24 Jan 2026AU$216.3bAU$73.2bAU$4.4b32.5x49.1x3x
Mon, 22 Dec 2025AU$215.0bAU$74.2bAU$4.6b32.9x47.2x2.9x
Wed, 19 Nov 2025AU$217.8bAU$74.7bAU$4.6b31.7x47.1x2.9x
Fri, 17 Oct 2025AU$248.4bAU$74.9bAU$4.6b31.1x53.8x3.3x
Sun, 14 Sep 2025AU$239.7bAU$74.3bAU$4.5b32x52.9x3.2x
Tue, 12 Aug 2025AU$269.7bAU$70.1bAU$4.8b30.3x56.2x3.8x
Thu, 10 Jul 2025AU$260.8bAU$71.7bAU$4.3b28x61.1x3.6x
Sat, 07 Jun 2025AU$255.5bAU$71.8bAU$4.3b26.1x59.6x3.6x
Mon, 05 May 2025AU$260.7bAU$70.5bAU$4.9b29.1x53.6x3.7x
Wed, 02 Apr 2025AU$249.4bAU$71.3bAU$4.9b27.8x50.5x3.5x
Fri, 28 Feb 2025AU$267.8bAU$67.5bAU$4.1b28.9x64.7x4x
Sun, 26 Jan 2025AU$247.0bAU$68.5bAU$3.3b26.3x74.4x3.6x
Tue, 24 Dec 2024AU$242.9bAU$68.8bAU$3.4b25.8x72.5x3.5x
Thu, 21 Nov 2024AU$237.0bAU$68.0bAU$3.2b26.1x73.9x3.5x
Sat, 19 Oct 2024AU$247.4bAU$67.2bAU$3.1b27.7x80.2x3.7x
Mon, 16 Sep 2024AU$241.7bAU$67.1bAU$3.1b27x77.8x3.6x
Wed, 14 Aug 2024AU$235.3bAU$63.9bAU$2.9b30x80.9x3.7x
Fri, 12 Jul 2024AU$239.1bAU$62.4bAU$2.6b33.1x93.1x3.8x
Sun, 09 Jun 2024AU$231.4bAU$63.3bAU$2.7b30x86.6x3.7x
Tue, 07 May 2024AU$222.0bAU$61.2bAU$2.6b26.5x84.8x3.6x
Thu, 04 Apr 2024AU$224.4bAU$61.6bAU$2.7b27.2x84.1x3.6x
Sat, 02 Mar 2024AU$223.2bAU$61.8bAU$2.7b25.7x83.2x3.6x
Mon, 29 Jan 2024AU$228.3bAU$60.5bAU$2.8b25.3x80.1x3.8x
Wed, 27 Dec 2023AU$222.3bAU$59.7bAU$2.7b24.9x81.3x3.7x
Fri, 24 Nov 2023AU$202.0bAU$60.5bAU$2.9b24.5x70.1x3.3x
Sun, 22 Oct 2023AU$187.0bAU$61.4bAU$3.0b24.9x62x3x
Tue, 19 Sep 2023AU$207.2bAU$61.2bAU$2.9b25.1x71.8x3.4x
Thu, 17 Aug 2023AU$213.6bAU$61.0bAU$3.2b26x67.5x3.5x
Sat, 15 Jul 2023AU$210.0bAU$57.1bAU$2.8b27.6x74.8x3.7x
Price to Earnings Ratio

74.8x


Total Market Cap: AU$210.0bTotal Earnings: AU$2.8bTotal Revenue: AU$57.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.8x202420252026
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 89.4x which is higher than its 3-year average PE of 70.8x.
  • The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 11% 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 Market0.20%
Healthcare4.25%
Biotech6.90%
Life Sciences5.92%
Healthtech3.38%
Medical Equipment3.35%
Healthcare Services2.06%
Pharma-0.30%
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 5.1%, 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 46% 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 5.1% 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$124.305.0%
+AU$2.8b		-49.0%PE29.5x
PME Pro MedicusAU$212.134.6%
+AU$967.4m		-32.6%PE94.4x
SIG Sigma HealthcareAU$2.802.2%
+AU$690.1m		-3.1%PE53.7x
SHL Sonic HealthcareAU$21.854.1%
+AU$429.9m		-19.0%PE20x
COH CochlearAU$124.825.4%
+AU$416.6m		-58.8%PE23.6x

Latest News

PYC
AU$1.56
PYC Therapeutics
7D
-7.1%
1Y
8.0%
PME
AU$212.13
Pro Medicus
7D
4.6%
1Y
-32.6%
PGC
AU$0.14
Paragon Care
7D
-12.1%
1Y
-63.7%
Narrative Update • Jul 07

PGC: Higher Margin Outlook Will Support Stronger Future Earnings Profile

Analysts have adjusted their price target on Paragon Care, reflecting updated assumptions that now pair a lower fair value estimate with a higher discount rate, a softer revenue growth outlook, a higher projected profit margin and a reduced future P/E multiple, without disclosing a specific A$ price level. What's in the News for Paragon Care No recent Paragon Care specific news items were identified in the provided sources, which may leave the stock more influenced by broader market conditions and company announcements outside this dataset.
NEU
AU$16.74
Neuren Pharmaceuticals
7D
-5.2%
1Y
18.1%
Analysis Article • Jul 06

Growth Investors: Industry Analysts Just Upgraded Their Neuren Pharmaceuticals Limited (ASX:NEU) Revenue Forecasts By 55%

Neuren Pharmaceuticals Limited ( ASX:NEU ) shareholders will have a reason to smile today, with the analysts making...
SIG
AU$2.80
Sigma Healthcare
7D
2.2%
1Y
-3.1%
SHL
AU$21.85
Sonic Healthcare
7D
4.1%
1Y
-19.0%
Narrative Update • Jul 02

SHL: Higher Discount Rate Will Pressure Future Earnings Multiple

Analysts have reduced their price target on Sonic Healthcare from A$23.00 to A$18.00, citing updated assumptions that include a higher discount rate, more moderate revenue growth expectations, a slightly stronger profit margin profile, and a lower future P/E multiple. What’s in the News for Sonic Healthcare No major recent news items for Sonic Healthcare have been identified from the provided primary sources.
TLX
AU$16.58
Telix Pharmaceuticals
7D
-2.6%
1Y
-34.7%
CSL
AU$124.30
CSL
7D
5.0%
1Y
-49.0%
COH
AU$124.82
Cochlear
7D
5.4%
1Y
-58.8%
Narrative Update • Jul 02

COH: Hospital Bottlenecks And Weaker Referrals Will Pressure Earnings Expectations

The analyst price target for Cochlear has been revised from A$210 to A$95, reflecting updated expectations for revenue growth, profit margins, the discount rate and future P/E as outlined in recent Street research from multiple analysts. Analyst Commentary Recent Street research on Cochlear highlights a more cautious tone despite mixed rating actions, with several bearish analysts questioning how well the current share price lines up with the revised A$95 target and the company’s execution risks.
RHC
AU$43.05
Ramsay Health Care
7D
-1.1%
1Y
10.0%
AYA
AU$5.72
Artrya
7D
-3.2%
1Y
525.1%
4DX
AU$4.10
4DMedical
7D
1.5%
1Y
1,682.6%
ANN
AU$31.89
Ansell
7D
-0.7%
1Y
5.6%
PNV
AU$0.99
PolyNovo
7D
6.4%
1Y
-12.3%
Narrative Update • Jun 15

PNV: Refined Cash Flow Assumptions Will Support Steady Outlook And Balanced Upside Potential

Analysts have modestly revised their fair value outlook for PolyNovo, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. Together, these factors support a slightly adjusted A$ price target and a more refined view of the stock’s long term earnings profile.
REG
AU$6.28
Regis Healthcare
7D
-2.9%
1Y
-15.8%
CU6
AU$2.41
Clarity Pharmaceuticals
7D
13.7%
1Y
-13.0%