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

Australian (ASX) Healthcare Sector Analysis

UpdatedJul 27, 2026
DataAggregated Company Financials
Companies130
  • 7D-5.7%
  • 3M-1.9%
  • 1Y-41.0%
  • YTD-23.6%

Over the last 7 days, the Healthcare industry has dropped 5.7%, driven by CSL declining 5.1%. Meanwhile, Imricor Medical Systems actually outperformed within the industry, gaining 20% in the last week. However, the industry is down 41% over the past year. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026AU$163.1bAU$78.2bAU$2.0b26.8x83.3x2.1x
Wed, 24 Jun 2026AU$160.0bAU$78.4bAU$2.0b24.6x80.8x2x
Fri, 22 May 2026AU$150.2bAU$77.8bAU$1.8b23.9x83.1x1.9x
Sun, 19 Apr 2026AU$175.6bAU$77.6bAU$1.9b26.7x90.5x2.3x
Tue, 17 Mar 2026AU$174.0bAU$78.3bAU$2.0b24.8x87.7x2.2x
Thu, 12 Feb 2026AU$203.7bAU$72.0bAU$2.0b33.2x101.2x2.8x
Sat, 10 Jan 2026AU$214.3bAU$73.9bAU$4.5b31.4x47.5x2.9x
Mon, 08 Dec 2025AU$222.8bAU$74.2bAU$4.3b33.5x52.2x3x
Wed, 05 Nov 2025AU$222.4bAU$74.9bAU$4.6b32.9x48.1x3x
Fri, 03 Oct 2025AU$240.5bAU$74.5bAU$4.6b30.5x52.8x3.2x
Sun, 31 Aug 2025AU$244.2bAU$74.2bAU$4.6b31.6x53.2x3.3x
Tue, 29 Jul 2025AU$277.4bAU$71.7bAU$4.3b31.1x65x3.9x
Thu, 26 Jun 2025AU$253.8bAU$71.8bAU$4.3b25.2x59.3x3.5x
Sat, 24 May 2025AU$257.4bAU$71.9bAU$4.3b27.3x60x3.6x
Mon, 21 Apr 2025AU$242.4bAU$70.8bAU$4.9b26.9x49.4x3.4x
Wed, 19 Mar 2025AU$253.1bAU$70.8bAU$4.9b27.8x51.9x3.6x
Fri, 14 Feb 2025AU$239.5bAU$66.3bAU$3.6b28x66.6x3.6x
Sun, 12 Jan 2025AU$250.1bAU$69.2bAU$3.4b26.3x73.2x3.6x
Tue, 10 Dec 2024AU$249.3bAU$68.2bAU$3.2b26.9x77x3.7x
Thu, 07 Nov 2024AU$239.6bAU$67.8bAU$3.2b25.6x75.5x3.5x
Sat, 05 Oct 2024AU$241.0bAU$66.7bAU$3.0b30.4x79.8x3.6x
Mon, 02 Sep 2024AU$243.4bAU$66.1bAU$3.2b25.6x75.8x3.7x
Wed, 31 Jul 2024AU$244.9bAU$63.2bAU$2.7b28.9x91.2x3.9x
Fri, 28 Jun 2024AU$236.1bAU$62.7bAU$2.6b32.1x90.1x3.8x
Sun, 26 May 2024AU$223.7bAU$61.1bAU$2.6b27.5x85.4x3.7x
Tue, 23 Apr 2024AU$215.4bAU$61.9bAU$2.7b25.9x78.8x3.5x
Thu, 21 Mar 2024AU$220.2bAU$61.8bAU$2.7b26.1x82.4x3.6x
Sat, 17 Feb 2024AU$223.4bAU$60.5bAU$3.5b25.8x64.1x3.7x
Mon, 15 Jan 2024AU$226.9bAU$60.1bAU$2.8b24.5x81x3.8x
Wed, 13 Dec 2023AU$212.7bAU$60.4bAU$2.9b24.9x74.2x3.5x
Fri, 10 Nov 2023AU$200.4bAU$61.1bAU$3.0b24.4x67.5x3.3x
Sun, 08 Oct 2023AU$198.7bAU$61.2bAU$2.9b24.9x67.8x3.2x
Tue, 05 Sep 2023AU$209.8bAU$61.1bAU$2.8b26.3x74.3x3.4x
Thu, 03 Aug 2023AU$212.9bAU$58.0bAU$2.9b26.6x72.6x3.7x
Price to Earnings Ratio

72.6x


Total Market Cap: AU$212.9bTotal Earnings: AU$2.9bTotal Revenue: AU$58.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 71.1x202420252026
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 83.3x which is higher than its 3-year average PE of 71.1x.
  • The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.1x.
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 10% 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-0.36%
Healthcare-5.70%
Life Sciences-0.19%
Pharma-2.01%
Healthcare Services-2.77%
Medical Equipment-3.78%
Biotech-6.52%
Healthtech-13.28%
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 5.9%, 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 45% 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 5.9% 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
IMR Imricor Medical SystemsAU$2.0020.5%
+AU$120.2m		64.6%PS1692x
ANN AnsellAU$32.462.5%
+AU$108.3m		5.1%PE23.3x
PYC PYC TherapeuticsAU$1.705.0%
+AU$78.7m		34.5%PS81.1x
AYA ArtryaAU$5.627.3%
+AU$60.7m		476.4%PS30968x
VFY Vitrafy Life SciencesAU$3.1812.4%
+AU$26.7m		96.3%PS103.4x

Latest News

IMR
AU$2.00
Imricor Medical Systems
7D
20.5%
1Y
64.6%
Narrative Update • Jul 24

IMR: Equity Raise Will Support Stronger Outlook For Future Returns

Analysts have revised their fair value estimate for Imricor Medical Systems from A$2.14 to A$2.97. This change reflects updated assumptions around growth, discount rates, and margins in their price target models.
PME
AU$162.24
Pro Medicus
7D
-12.6%
1Y
-49.4%
Narrative Update • Jul 24

PME: Long Term US PACS Share Assumptions Will Drive Future Upside

Analysts have trimmed their fair value estimate for Pro Medicus to A$250.00 from A$300.00, citing more cautious assumptions about the company’s long term US PACS market share, even as recent Street research points to a higher near term price target. What's in the News for Pro Medicus Pro Medicus Limited continues to build its position as a healthcare informatics company, supported by rapid organic growth, strong cash conversion and a debt free balance sheet.
TLX
AU$14.28
Telix Pharmaceuticals
7D
-5.4%
1Y
-32.3%
Narrative Update • Jul 24

TLX: Radioligand Therapy Pipeline Progress Will Drive Future Upside Potential

Analysts have trimmed the Telix Pharmaceuticals fair value estimate from A$35.00 to A$31.00, reflecting a lower future P/E assumption and a slightly higher discount rate, while also highlighting ongoing product momentum and clinical catalysts that are now seen as largely captured in the current A$18.00 to A$23.60 price target range. Analyst Commentary Recent Street research on Telix Pharmaceuticals points to a mixed but generally constructive tone, with price targets clustering in the A$18.00 to A$23.60 range and commentary that links valuation closely to execution on clinical, regulatory, and commercial milestones.
CSL
AU$116.39
CSL
7D
-5.1%
1Y
-57.0%
Narrative Update • Jul 23

CSL: Cost Pressures And Margin Strain Will Drive A Tougher Repricing Phase

Analysts have reduced their price target on CSL to A$103.54 from A$180.87, citing updated assumptions for the discount rate, profit margin and future P/E in light of recent sector research and mixed signals around roofing demand and input costs. Analyst Commentary Recent Street research around Carlisle Companies, or CSL, reflects a more cautious tone as roofing demand signals remain mixed and cost pressures stay in focus.
MSB
AU$2.14
Mesoblast
7D
-11.9%
1Y
-14.1%
Narrative Update • Jul 23

MSB: RMAT Backed Phase 3 Progress Will Drive Future Upside Potential

Analysts have raised their Mesoblast price target from A$2.80 to A$3.00, citing updated assumptions around revenue growth, profit margins and a lower future P/E multiple as the key factors behind the change. What’s in the News for Mesoblast Mesoblast has treated at least 300 patients in its pivotal Phase 3 trial of rexlemestrocel-L for chronic low back pain linked to degenerative disc disease.
PYC
AU$1.70
PYC Therapeutics
7D
5.0%
1Y
34.5%
SHL
AU$21.40
Sonic Healthcare
7D
-1.3%
1Y
-24.2%
New Narrative • Jul 22

Sonic Healthcare is poised for large upside as margins recover

Sonic Healthcare (ASX: SHL) is a stock the market currently seems to be pricing for permanent disappointment rather than temporary difficulty. Shares have fallen 23.3% over the past year to A$21.12, sitting below even the lowest analyst target of A$18.
LDX
AU$0.10
Lumos Diagnostics Holdings
7D
25.0%
1Y
44.9%
ANN
AU$32.46
Ansell
7D
2.5%
1Y
5.1%
Narrative Update • Jul 17

ANN: Steady Protection Demand And Margin Discipline Are Expected To Sustain Returns

Analysts have trimmed their fair value estimate for Ansell from A$36.23 to A$34.48, reflecting slightly lower assumptions for revenue growth, profit margins and future P/E multiples, partly offset by a modestly reduced discount rate. What’s in the News for Ansell Ansell has recorded a 2.32% share price gain over the past year, according to recent coverage of the stock.
COH
AU$114.50
Cochlear
7D
-3.8%
1Y
-63.9%
Narrative Update • Jul 16

COH: Profit Downgrade And Softer Implant Demand Will Pressure Earnings Expectations

The analyst fair value estimate for Cochlear has increased from A$95 to A$100, reflecting updated assumptions related to discount rates, modest adjustments to long-term revenue growth and profit margins, and a slightly higher future P/E multiple cited by analysts in recent research. Analyst Commentary Recent research on Cochlear points to a more mixed setup, with some analysts highlighting risks that could limit upside from current levels.
VFY
AU$3.18
Vitrafy Life Sciences
7D
12.4%
1Y
96.3%
SIG
AU$2.86
Sigma Healthcare
7D
-2.4%
1Y
-0.7%
RHC
AU$42.54
Ramsay Health Care
7D
-1.1%
1Y
9.5%
AYA
AU$5.62
Artrya
7D
7.3%
1Y
476.4%
RAC
AU$2.07
Racura Oncology
7D
3.5%
1Y
74.7%
TTX
AU$7.07
Tetratherix
7D
5.4%
1Y
52.0%