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Australian (ASX) Healthcare Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies125
  • 7D1.8%
  • 3M-4.2%
  • 1Y-27.4%
  • YTD0.4%

Over the last 7 days, the Healthcare industry has risen 1.8%, driven by gains from Sigma Healthcare of 2.3%. In contrast, the industry has lost 27% in the last 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
Fri, 30 Jan 2026AU$215.9bAU$72.6bAU$4.3b32.7x50.1x3x
Sun, 28 Dec 2025AU$214.8bAU$73.8bAU$4.5b33.4x47.9x2.9x
Tue, 25 Nov 2025AU$222.2bAU$74.9bAU$4.7b31.2x47.6x3x
Thu, 23 Oct 2025AU$247.1bAU$75.0bAU$4.6b30.8x53.4x3.3x
Sat, 20 Sep 2025AU$238.1bAU$74.5bAU$4.6b31.9x52.2x3.2x
Mon, 18 Aug 2025AU$274.8bAU$70.3bAU$4.8b31x56.8x3.9x
Wed, 16 Jul 2025AU$263.0bAU$71.5bAU$4.2b29x62x3.7x
Fri, 13 Jun 2025AU$257.0bAU$71.7bAU$4.3b26.1x60.2x3.6x
Sun, 11 May 2025AU$252.4bAU$70.6bAU$4.9b27x51.6x3.6x
Tue, 08 Apr 2025AU$235.6bAU$72.3bAU$5.1b25.7x45.9x3.3x
Thu, 06 Mar 2025AU$265.2bAU$71.2bAU$4.9b29.2x53.9x3.7x
Sat, 01 Feb 2025AU$253.7bAU$68.9bAU$3.4b26.8x75x3.7x
Mon, 30 Dec 2024AU$246.3bAU$68.9bAU$3.4b25.8x73.1x3.6x
Wed, 27 Nov 2024AU$243.6bAU$68.0bAU$3.2b26.9x75.9x3.6x
Fri, 25 Oct 2024AU$242.1bAU$67.4bAU$3.1b26x77.7x3.6x
Sun, 22 Sep 2024AU$238.8bAU$66.7bAU$3.0b27.2x78.4x3.6x
Tue, 20 Aug 2024AU$243.1bAU$63.7bAU$2.9b29.9x84.7x3.8x
Thu, 18 Jul 2024AU$244.9bAU$62.5bAU$2.6b32.8x95.1x3.9x
Sat, 15 Jun 2024AU$231.3bAU$63.1bAU$2.7b31.7x87.2x3.7x
Mon, 13 May 2024AU$223.9bAU$61.2bAU$2.6b26.3x85.2x3.7x
Wed, 10 Apr 2024AU$224.4bAU$61.2bAU$2.6b27.2x86.2x3.7x
Fri, 08 Mar 2024AU$222.9bAU$61.4bAU$2.6b25.7x85.6x3.6x
Sun, 04 Feb 2024AU$233.4bAU$60.7bAU$2.9b25.6x81x3.8x
Tue, 02 Jan 2024AU$226.0bAU$59.7bAU$2.7b24.9x82.9x3.8x
Thu, 30 Nov 2023AU$205.4bAU$60.3bAU$2.8b24.8x72.2x3.4x
Sat, 28 Oct 2023AU$186.6bAU$61.3bAU$3.0b24.3x62.2x3x
Mon, 25 Sep 2023AU$200.0bAU$61.0bAU$2.9b24.9x69.1x3.3x
Wed, 23 Aug 2023AU$210.9bAU$60.5bAU$2.8b25x74.5x3.5x
Fri, 21 Jul 2023AU$211.3bAU$57.2bAU$2.8b27.6x74.9x3.7x
Sun, 18 Jun 2023AU$217.6bAU$57.1bAU$2.8b25.7x77.5x3.8x
Tue, 16 May 2023AU$233.4bAU$57.2bAU$2.9b27.7x81.3x4.1x
Thu, 13 Apr 2023AU$232.9bAU$57.2bAU$2.9b28.8x81x4.1x
Sat, 11 Mar 2023AU$220.3bAU$57.4bAU$2.9b25.1x76x3.8x
Mon, 06 Feb 2023AU$234.6bAU$55.2bAU$3.9b24.9x59.4x4.2x
Price to Earnings Ratio

59.4x


Total Market Cap: AU$234.6bTotal Earnings: AU$3.9bTotal Revenue: AU$55.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 69.8x202420252026
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 50.1x which is lower than its 3-year average PE of 69.8x.
  • The 3-year average PS ratio of 3.6x is higher than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 3.0% per year over the last three years.
  • Revenues for these companies have grown 9.6% 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 Market1.54%
Healthcare1.76%
Biotech2.60%
Healthcare Services2.47%
Healthtech1.19%
Medical Equipment-1.42%
Pharma-1.57%
Life Sciences-2.99%
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 25.5%, 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 69% 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
SIG Sigma HealthcareAU$3.092.3%
+AU$805.1m		n/aPE67.1x
CSL CSLAU$179.400.6%
+AU$477.3m		-35.9%PE20.3x
PME Pro MedicusAU$181.692.4%
+AU$443.0m		-33.2%PE164.7x
TLX Telix PharmaceuticalsAU$11.081.5%
+AU$54.2m		-61.5%PE243.6x
CYC CyclopharmAU$1.2338.2%
+AU$37.8m		-44.6%PS4.4x

Latest News

TLX
AU$11.08
Telix Pharmaceuticals
7D
1.5%
1Y
-61.5%
TTX
AU$3.93
Tetratherix
7D
13.9%
1Y
n/a
MSB
AU$2.58
Mesoblast
7D
-3.4%
1Y
-15.7%
CSL
AU$179.40
CSL
7D
0.6%
1Y
-35.9%

CSL: Share Recovery Will Be Driven By Seqirus Reset And Demerger Deferral

Analysts have raised their fair value target for CSL to A$232.54. This reflects slightly adjusted assumptions for revenue growth, profit margins and future P/E multiples after recent upgrades and renewed interest in the shares.
ANN
AU$33.38
Ansell
7D
-2.1%
1Y
-5.0%

ANN: Tariff Risks And Safety Studios Will Shape Fairly Balanced Future Pricing

Analysts have trimmed their price target for Ansell slightly, citing updated assumptions that include a marginally lower fair value estimate, a modestly reduced revenue growth outlook, a slightly lower discount rate, and a small uplift in projected profit margins and future P/E multiples. Valuation Changes Fair Value: trimmed slightly, moving from A$36.75 to A$36.44 per share.
RAC
AU$2.22
Racura Oncology
7D
-18.7%
1Y
79.0%
4DX
AU$3.43
4DMedical
7D
-16.9%
1Y
535.2%
RHC
AU$36.20
Ramsay Health Care
7D
-2.7%
1Y
6.8%

RHC: Future CFO Appointment Will Support Margins While Outlook Remains Measured And Balanced

Analysts have maintained their fair value estimate for Ramsay Health Care at A$33.97. The latest price target update reflects modest adjustments to assumptions around the discount rate, revenue growth, profit margins and future P/E, rather than a fundamental shift in their outlook.
PME
AU$181.69
Pro Medicus
7D
2.4%
1Y
-33.2%
SIG
AU$3.09
Sigma Healthcare
7D
2.3%
1Y
n/a

With Sigma Healthcare Limited (ASX:SIG) It Looks Like You'll Get What You Pay For

Jan 17
With Sigma Healthcare Limited (ASX:SIG) It Looks Like You'll Get What You Pay For
SHL
AU$22.73
Sonic Healthcare
7D
-3.4%
1Y
-20.2%

SHL: Higher Revenue Assumptions Will Support Attractive Future Earnings Multiple

Analysts have slightly reduced their price targets for Sonic Healthcare, reflecting updated fair value estimates of around $27.68, modestly higher revenue growth assumptions near 7.41% and minor adjustments to profit margin and P/E expectations. Valuation Changes Fair Value Estimate eased slightly from A$28.11 to A$27.68.
COH
AU$263.85
Cochlear
7D
-4.4%
1Y
-17.3%

Investors Shouldn't Overlook Cochlear's (ASX:COH) Impressive Returns On Capital

Jan 11
Investors Shouldn't Overlook Cochlear's (ASX:COH) Impressive Returns On Capital
CYC
AU$1.23
Cyclopharm
7D
38.2%
1Y
-44.6%

Cyclopharm Limited's (ASX:CYC) Price Is Right But Growth Is Lacking After Shares Rocket 28%

Dec 23
Cyclopharm Limited's (ASX:CYC) Price Is Right But Growth Is Lacking After Shares Rocket 28%
IMM
AU$0.43
Immutep
7D
3.6%
1Y
22.9%
NEU
AU$16.85
Neuren Pharmaceuticals
7D
-7.1%
1Y
16.6%
SPL
AU$0.40
Starpharma Holdings
7D
14.5%
1Y
276.2%