Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Healthcare Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies129
  • 7D1.1%
  • 3M-19.2%
  • 1Y-29.7%
  • YTD-19.4%

In the last week, the Healthcare industry is up 1.1%, with Pro Medicus up 11%. In the past year, the industry is down 30%. As for the next few years, earnings are expected to grow by 23% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026AU$171.6bAU$78.1bAU$2.0b25.3x87.3x2.2x
Thu, 12 Mar 2026AU$178.1bAU$77.7bAU$1.9b25.7x91.5x2.3x
Sat, 07 Feb 2026AU$208.1bAU$72.7bAU$4.3b30.9x47.9x2.9x
Mon, 05 Jan 2026AU$214.5bAU$73.9bAU$4.5b33x47.6x2.9x
Wed, 03 Dec 2025AU$224.1bAU$74.5bAU$4.6b31.4x49.1x3x
Fri, 31 Oct 2025AU$225.3bAU$74.7bAU$4.6b31.7x49.2x3x
Sun, 28 Sep 2025AU$231.5bAU$74.7bAU$4.6b29.5x50.4x3.1x
Tue, 26 Aug 2025AU$246.4bAU$71.0bAU$4.7b28.9x52.4x3.5x
Thu, 24 Jul 2025AU$273.8bAU$71.4bAU$4.2b30.8x64.8x3.8x
Sat, 21 Jun 2025AU$255.3bAU$71.9bAU$4.3b25.3x59.5x3.6x
Mon, 19 May 2025AU$255.0bAU$72.2bAU$4.3b27.1x58.9x3.5x
Wed, 16 Apr 2025AU$245.4bAU$70.8bAU$4.9b27.4x49.9x3.5x
Fri, 14 Mar 2025AU$249.8bAU$71.2bAU$4.9b27.5x50.6x3.5x
Sun, 09 Feb 2025AU$248.1bAU$65.2bAU$3.4b30.2x74x3.8x
Tue, 07 Jan 2025AU$248.2bAU$68.6bAU$3.3b26.1x74.6x3.6x
Thu, 05 Dec 2024AU$250.1bAU$68.4bAU$3.3b27.1x76.8x3.7x
Sat, 02 Nov 2024AU$236.2bAU$67.7bAU$3.2b25.2x74.6x3.5x
Mon, 30 Sep 2024AU$236.6bAU$66.5bAU$3.0b25.8x79.3x3.6x
Wed, 28 Aug 2024AU$243.5bAU$64.2bAU$3.1b36.1x77.8x3.8x
Fri, 26 Jul 2024AU$242.7bAU$63.2bAU$2.7b32.3x90.4x3.8x
Sun, 23 Jun 2024AU$236.1bAU$62.8bAU$2.6b33.5x89.8x3.8x
Tue, 21 May 2024AU$223.5bAU$60.9bAU$2.6b27.2x86.5x3.7x
Thu, 18 Apr 2024AU$218.2bAU$62.0bAU$2.7b25.2x80.1x3.5x
Sat, 16 Mar 2024AU$221.8bAU$61.6bAU$2.6b26x84.1x3.6x
Mon, 12 Feb 2024AU$235.0bAU$59.2bAU$3.0b26.1x77.2x4x
Wed, 10 Jan 2024AU$226.1bAU$60.1bAU$2.8b24.5x80.9x3.8x
Fri, 08 Dec 2023AU$209.6bAU$60.5bAU$2.9b24.8x72.8x3.5x
Sun, 05 Nov 2023AU$193.6bAU$60.7bAU$2.9b24.4x66.6x3.2x
Tue, 03 Oct 2023AU$197.9bAU$61.2bAU$2.9b24.9x67.8x3.2x
Thu, 31 Aug 2023AU$213.8bAU$61.4bAU$2.9b28.4x73.3x3.5x
Sat, 29 Jul 2023AU$212.6bAU$57.8bAU$2.9b27.5x73.4x3.7x
Mon, 26 Jun 2023AU$217.4bAU$57.7bAU$2.9b25.5x75.3x3.8x
Wed, 24 May 2023AU$232.9bAU$57.9bAU$2.9b27.3x80.3x4x
Fri, 21 Apr 2023AU$230.5bAU$57.0bAU$2.8b27.1x80.9x4x
Price to Earnings Ratio

80.9x


Total Market Cap: AU$230.5bTotal Earnings: AU$2.8bTotal Revenue: AU$57.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 70.4x202420252026
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 87.3x which is higher than its 3-year average PE of 70.4x.
  • The 3-year average PS ratio of 3.5x 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 12% 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 Market3.84%
Healthcare1.08%
Healthtech10.93%
Life Sciences1.40%
Medical Equipment0.71%
Pharma0.55%
Healthcare Services0.20%
Biotech0.044%
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 6.7%, 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 48% 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 6.7% 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
PME Pro MedicusAU$132.028.2%
+AU$1.0b		-37.0%PE58.8x
TLX Telix PharmaceuticalsAU$15.4513.8%
+AU$633.7m		-41.3%PS4.6x
SIG Sigma HealthcareAU$2.711.5%
+AU$460.1m		-9.4%PE52x
4DX 4DMedicalAU$6.3110.7%
+AU$359.5m		2,003.3%PS640x
SHL Sonic HealthcareAU$20.093.1%
+AU$301.4m		-20.3%PE18.4x

Latest News

SHL
AU$20.09
Sonic Healthcare
7D
3.1%
1Y
-20.3%

SHL: Upcoming Dividend And Stable Assumptions Will Support A Higher Future Multiple

Analysts have slightly adjusted their price targets for Sonic Healthcare, reflecting updated assumptions for revenue growth, profit margins and future P/E. These changes point to a refined view of fair value around A$25.74 per share.
TLX
AU$15.45
Telix Pharmaceuticals
7D
13.8%
1Y
-41.3%
PGC
AU$0.17
Paragon Care
7D
-5.4%
1Y
-55.7%

PGC: Ramsay Exit And Index Inclusion Will Support Future Earnings Upside

Analysts have lifted Paragon Care's fair value estimate slightly from A$0.31 to A$0.315, reflecting updated assumptions around revenue growth, profit margins, and a higher future P/E multiple. What's in the News Paragon Care is being added to the S&P/ASX Emerging Companies Index, increasing its visibility among index-tracking investors and funds (Index Constituent Adds).
PME
AU$132.02
Pro Medicus
7D
8.2%
1Y
-37.0%
CSL
AU$138.08
CSL
7D
-1.6%
1Y
-43.4%

CSL: Manufacturing Expansion And CEO Transition Will Support Future Share Recovery

Analysts have slightly increased CSL's fair value estimate to A$208.11, citing modest adjustments to the discount rate, revenue growth, profit margin and a higher assumed future P/E multiple as they reassess the stock following recent rating changes. Analyst Commentary Recent rating actions around CSL highlight a split in views on how much investors should pay for the stock at this stage, which feeds directly into the updated fair value estimate of A$208.11.
CU6
AU$2.91
Clarity Pharmaceuticals
7D
-4.6%
1Y
59.0%
ARX
AU$0.51
Aroa Biosurgery
7D
-7.3%
1Y
22.9%

Reimbursement Shifts And Partner Dependence Will Reshape Tissue Regeneration Prospects Over Time

Catalysts About Aroa Biosurgery Aroa Biosurgery develops and supplies biologically derived soft tissue regeneration products used in wound care, reconstruction and surgical procedures. What are the underlying business or industry changes driving this perspective?
NAN
AU$3.58
Nanosonics
7D
-2.7%
1Y
-25.7%

NAN: RBC Upgrade And Premier Agreement Will Support Future Upside Potential

Analysts have modestly adjusted their assumptions for the discount rate, revenue growth, profit margin and future P/E in their models for Nanosonics. They have kept the fair value estimate steady at A$4.30 and anchored their view to recent research upgrades on the stock.
COH
AU$175.06
Cochlear
7D
1.1%
1Y
-33.3%

COH: VA Access Expansion And Upgraded Coverage Will Underpin Future Upside

Analysts have slightly adjusted their price target for Cochlear to A$244.58 from A$245.91. This reflects updated assumptions around discount rates and valuation multiples, while core growth and profitability expectations remain broadly unchanged.
4DX
AU$6.31
4DMedical
7D
10.7%
1Y
2,003.3%
ANN
AU$28.77
Ansell
7D
-0.9%
1Y
-2.1%

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).
AVR
AU$8.45
Anteris Technologies Global
7D
11.9%
1Y
92.0%
REG
AU$6.02
Regis Healthcare
7D
-0.8%
1Y
-10.5%

REG: RAD Retention And M&A Pipeline Will Support Future Earnings Upside

Analysts now see a slightly different outlook for Regis Healthcare, with the updated price target moving in line with minor tweaks to revenue growth, profit margin assumptions and future P/E expectations. This results in a refined valuation around A$8.32 per share.
SIG
AU$2.71
Sigma Healthcare
7D
1.5%
1Y
-9.4%
AYA
AU$3.86
Artrya
7D
24.1%
1Y
476.1%
SLD
AU$0.71
Saluda Medical
7D
-12.8%
1Y
n/a