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Australian (ASX) Healthcare Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies125
  • 7D-3.2%
  • 3M-6.6%
  • 1Y-25.4%
  • YTD-3.3%

Over the last 7 days, the Healthcare industry has dropped 3.2%, driven by Pro Medicus declining 9.5%. However, the industry is down 25% over the past year. 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
Mon, 09 Feb 2026AU$208.1bAU$72.6bAU$4.3b31.1x48.1x2.9x
Wed, 07 Jan 2026AU$209.6bAU$73.8bAU$4.5b33.2x46.7x2.8x
Fri, 05 Dec 2025AU$222.5bAU$74.2bAU$4.5b33.8x49.3x3x
Sun, 02 Nov 2025AU$225.2bAU$74.8bAU$4.6b33.7x49.1x3x
Tue, 30 Sep 2025AU$233.9bAU$74.7bAU$4.6b29.6x51x3.1x
Thu, 28 Aug 2025AU$248.8bAU$71.8bAU$4.6b30.6x53.7x3.5x
Sat, 26 Jul 2025AU$275.2bAU$71.5bAU$4.2b31x64.9x3.8x
Mon, 23 Jun 2025AU$255.3bAU$72.0bAU$4.3b25.2x59.2x3.5x
Wed, 21 May 2025AU$256.6bAU$72.1bAU$4.3b27.1x59.4x3.6x
Fri, 18 Apr 2025AU$242.4bAU$70.9bAU$4.9b26.8x49.2x3.4x
Sun, 16 Mar 2025AU$252.2bAU$71.0bAU$4.9b27.9x51.5x3.6x
Tue, 11 Feb 2025AU$248.7bAU$65.5bAU$3.4b30.4x73x3.8x
Thu, 09 Jan 2025AU$251.4bAU$69.0bAU$3.4b26.5x74.4x3.6x
Sat, 07 Dec 2024AU$249.1bAU$68.3bAU$3.3b26.8x76.6x3.6x
Mon, 04 Nov 2024AU$236.2bAU$67.8bAU$3.2b25.2x74.4x3.5x
Wed, 02 Oct 2024AU$240.8bAU$66.5bAU$3.0b28.8x80.6x3.6x
Fri, 30 Aug 2024AU$243.6bAU$65.1bAU$3.1b36x77.7x3.7x
Sun, 28 Jul 2024AU$244.4bAU$63.1bAU$2.7b32.1x91.2x3.9x
Tue, 25 Jun 2024AU$234.8bAU$62.8bAU$2.6b33.7x89.5x3.7x
Thu, 23 May 2024AU$221.8bAU$61.0bAU$2.6b27.3x85.3x3.6x
Sat, 20 Apr 2024AU$216.9bAU$61.9bAU$2.7b25.9x79.8x3.5x
Mon, 18 Mar 2024AU$221.8bAU$61.6bAU$2.6b26x83.7x3.6x
Wed, 14 Feb 2024AU$224.5bAU$60.5bAU$3.5b25.6x64.7x3.7x
Fri, 12 Jan 2024AU$227.4bAU$60.1bAU$2.8b24.5x81.5x3.8x
Sun, 10 Dec 2023AU$210.2bAU$60.5bAU$2.9b24.8x73.2x3.5x
Tue, 07 Nov 2023AU$196.1bAU$60.7bAU$2.9b24.4x67.4x3.2x
Thu, 05 Oct 2023AU$197.5bAU$61.4bAU$3.0b24.9x66x3.2x
Sat, 02 Sep 2023AU$210.8bAU$61.1bAU$2.8b27x75.1x3.5x
Mon, 31 Jul 2023AU$212.6bAU$57.8bAU$2.9b27.5x73.4x3.7x
Wed, 28 Jun 2023AU$215.8bAU$57.7bAU$2.9b26x74.9x3.7x
Fri, 26 May 2023AU$230.4bAU$58.0bAU$2.9b27.3x78.8x4x
Sun, 23 Apr 2023AU$231.9bAU$57.2bAU$2.9b27.1x80.9x4.1x
Tue, 21 Mar 2023AU$218.9bAU$57.0bAU$2.9b24.9x76.7x3.8x
Thu, 16 Feb 2023AU$226.6bAU$56.8bAU$3.8b24.9x60.4x4x
Price to Earnings Ratio

60.4x


Total Market Cap: AU$226.6bTotal Earnings: AU$3.8bTotal Revenue: AU$56.8bTotal 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 48.1x 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 4.8% 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 Market-2.49%
Healthcare-3.22%
Life Sciences1.69%
Healthcare Services-0.50%
Biotech-1.22%
Medical Equipment-6.46%
Healthtech-12.97%
Pharma-13.35%
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 24.9%, 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 48% 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
CSL CSLAU$180.371.9%
+AU$1.6b		-33.3%PE20.3x
SIG Sigma HealthcareAU$3.121.0%
+AU$345.0m		10.2%PE67.7x
4DX 4DMedicalAU$3.467.8%
+AU$142.4m		565.4%PS336.8x
RHY Rhythm BiosciencesAU$0.2670.0%
+AU$34.3m		193.1%PS26.1x
BOT Botanix PharmaceuticalsAU$0.1215.0%
+AU$29.6m		-76.0%PS39.1x

Latest News

CSL
AU$180.37
CSL
7D
1.9%
1Y
-33.3%

Seqirus Demerger And Cost Savings Will Shape A Steady Long Term Outlook

Catalysts About CSL CSL is a global biopharmaceutical group focused on plasma therapies, vaccines and specialty medicines addressing rare and serious diseases. What are the underlying business or industry changes driving this perspective?
ACL
AU$2.45
Australian Clinical Labs
7D
-12.2%
1Y
-33.1%

ACL: Updated Assumptions Will Support Confidence In Undervalued Share Price

Analysts have revised their price target on Australian Clinical Labs to A$3.85. The update reflects slightly adjusted assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping fair value unchanged at A$3.85.
COH
AU$253.12
Cochlear
7D
-4.9%
1Y
-18.0%

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Feb 06
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NEU
AU$13.31
Neuren Pharmaceuticals
7D
-18.1%
1Y
-3.0%

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Feb 05
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SIG
AU$3.12
Sigma Healthcare
7D
1.0%
1Y
10.2%

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Feb 05
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TLX
AU$9.86
Telix Pharmaceuticals
7D
-5.9%
1Y
-65.4%
RHY
AU$0.26
Rhythm Biosciences
7D
70.0%
1Y
193.1%
MSB
AU$2.37
Mesoblast
7D
-4.0%
1Y
-21.5%
SHL
AU$21.98
Sonic Healthcare
7D
-3.6%
1Y
-22.7%

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

Catalysts About Sonic Healthcare Sonic Healthcare is a global medical diagnostics company focused on laboratory pathology, radiology and clinical services across multiple countries. What are the underlying business or industry changes driving this perspective?
4DX
AU$3.46
4DMedical
7D
7.8%
1Y
565.4%

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$161.17
Pro Medicus
7D
-9.5%
1Y
-43.5%

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
15.0%
1Y
-76.0%
LDX
AU$0.27
Lumos Diagnostics Holdings
7D
15.2%
1Y
813.8%

Lumos Diagnostics Holdings Limited (ASX:LDX) Stocks Pounded By 27% But Not Lagging Industry On Growth Or Pricing

Jan 27
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ATH
AU$0.009
Alterity Therapeutics
7D
28.6%
1Y
-18.2%
ARX
AU$0.70
Aroa Biosurgery
7D
9.4%
1Y
32.1%

Aroa Biosurgery Limited (ASX:ARX) Just Reported Interim Earnings: Have Analysts Changed Their Mind On The Stock?

Nov 28
Aroa Biosurgery Limited (ASX:ARX) Just Reported Interim Earnings: Have Analysts Changed Their Mind On The Stock?
CU6
AU$2.90
Clarity Pharmaceuticals
7D
-5.8%
1Y
-20.3%