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

Australian (ASX) Healthcare Sector Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies125
  • 7D-1.2%
  • 3M-13.9%
  • 1Y-25.8%
  • YTD-0.8%

Over the last 7 days, the Healthcare industry has dropped 1.2%, driven by a pullback from Pro Medicus of 11%. However, the industry is down 26% over the past year. 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
Tue, 20 Jan 2026AU$213.0bAU$73.8bAU$4.5b32x47.4x2.9x
Thu, 18 Dec 2025AU$213.0bAU$74.2bAU$4.6b32.7x46.8x2.9x
Sat, 15 Nov 2025AU$219.7bAU$74.7bAU$4.6b32.3x47.7x2.9x
Mon, 13 Oct 2025AU$243.6bAU$75.0bAU$4.6b30.2x52.6x3.2x
Wed, 10 Sep 2025AU$241.2bAU$74.5bAU$4.6b32.2x52.9x3.2x
Fri, 08 Aug 2025AU$273.5bAU$70.1bAU$4.8b37.5x57x3.9x
Sun, 06 Jul 2025AU$261.4bAU$71.6bAU$4.2b28x61.6x3.7x
Tue, 03 Jun 2025AU$258.4bAU$71.9bAU$4.3b26.2x60.2x3.6x
Thu, 01 May 2025AU$254.3bAU$70.7bAU$4.9b28.3x51.9x3.6x
Sat, 29 Mar 2025AU$252.0bAU$71.1bAU$4.9b28.3x51.3x3.5x
Mon, 24 Feb 2025AU$270.0bAU$66.5bAU$4.2b29x63.6x4.1x
Wed, 22 Jan 2025AU$245.6bAU$68.9bAU$3.4b26.2x72.6x3.6x
Fri, 20 Dec 2024AU$243.8bAU$68.8bAU$3.3b25.8x72.8x3.5x
Sun, 17 Nov 2024AU$237.5bAU$68.2bAU$3.2b24.3x73.4x3.5x
Tue, 15 Oct 2024AU$245.1bAU$67.0bAU$3.1b26.3x80.1x3.7x
Thu, 12 Sep 2024AU$238.4bAU$67.2bAU$3.1b26.4x76.3x3.5x
Sat, 10 Aug 2024AU$241.2bAU$63.1bAU$2.7b29x90.6x3.8x
Mon, 08 Jul 2024AU$237.2bAU$62.4bAU$2.6b33.1x92.3x3.8x
Wed, 05 Jun 2024AU$224.8bAU$61.1bAU$2.6b28x86.1x3.7x
Fri, 03 May 2024AU$220.5bAU$61.4bAU$2.7b26.9x83.2x3.6x
Sun, 31 Mar 2024AU$228.9bAU$61.6bAU$2.7b27.2x86x3.7x
Tue, 27 Feb 2024AU$224.8bAU$60.4bAU$3.3b25.7x68.1x3.7x
Thu, 25 Jan 2024AU$227.3bAU$60.4bAU$2.8b25.3x80x3.8x
Sat, 23 Dec 2023AU$222.3bAU$59.7bAU$2.7b24.9x81.5x3.7x
Mon, 20 Nov 2023AU$203.5bAU$60.7bAU$2.9b24.5x70x3.4x
Wed, 18 Oct 2023AU$194.7bAU$61.5bAU$3.0b24.9x65.4x3.2x
Fri, 15 Sep 2023AU$208.3bAU$61.2bAU$2.9b25.9x72.3x3.4x
Sun, 13 Aug 2023AU$210.4bAU$58.3bAU$3.0b25.9x70.9x3.6x
Tue, 11 Jul 2023AU$208.0bAU$57.8bAU$2.9b27.6x71.7x3.6x
Thu, 08 Jun 2023AU$232.6bAU$57.6bAU$2.9b25.9x80.8x4x
Sat, 06 May 2023AU$229.8bAU$57.0bAU$2.8b28x80.8x4x
Mon, 03 Apr 2023AU$222.7bAU$57.2bAU$2.9b27.6x77.8x3.9x
Wed, 01 Mar 2023AU$224.3bAU$56.9bAU$2.9b24.9x77.6x3.9x
Fri, 27 Jan 2023AU$224.8bAU$54.8bAU$3.9b24.9x58x4.1x
Price to Earnings Ratio

58x


Total Market Cap: AU$224.8bTotal Earnings: AU$3.9bTotal Revenue: AU$54.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Sector Price to Earnings3Y Average 69.9x202420252026
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 47.4x which is lower than its 3-year average PE of 69.9x.
  • 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 5.1% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market1.12%
Healthcare-1.19%
Life Sciences6.56%
Medical Equipment0.85%
Biotech0.30%
Healthcare Services-0.77%
Pharma-6.99%
Healthtech-8.46%
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 26.1%, 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 71% 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$176.702.0%
+AU$1.6b		-35.4%PE19.1x
COH CochlearAU$269.722.1%
+AU$359.7m		-13.6%PE45.4x
SIG Sigma HealthcareAU$2.920.7%
+AU$230.0m		n/aPE63.4x
RHC Ramsay Health CareAU$36.692.3%
+AU$186.2m		12.2%PE1240.6x
TLX Telix PharmaceuticalsAU$11.494.5%
+AU$166.0m		-56.6%PE241x

Latest News

TLX
AU$11.49
Telix Pharmaceuticals
7D
4.5%
1Y
-56.6%
NAN
AU$3.97
Nanosonics
7D
-4.8%
1Y
10.6%
MSB
AU$2.54
Mesoblast
7D
-7.0%
1Y
-11.5%
4DX
AU$4.36
4DMedical
7D
1.6%
1Y
664.9%

4DX: Equity Raise And CFO Appointment Will Likely Fail To Support Valuation

Analysts have lifted their price target on 4DMedical to A$2.73 from A$2.30, reflecting updated views on fair value, slightly adjusted discount rates and refreshed assumptions around revenue growth, profit margins and future P/E levels. What's in the News 4DMedical completed a follow on equity offering of approximately A$79.1m, issuing 20,806,185 ordinary shares at A$3.80 per share with a A$0.19 discount per security (Key Developments).
PME
AU$186.55
Pro Medicus
7D
-11.0%
1Y
-29.1%
SIG
AU$2.92
Sigma Healthcare
7D
0.7%
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
PGC
AU$0.22
Paragon Care
7D
-12.0%
1Y
-55.1%
SHL
AU$23.27
Sonic Healthcare
7D
1.0%
1Y
-16.6%

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.
HLS
AU$0.94
Healius
7D
-9.6%
1Y
-34.7%

Healius Limited (ASX:HLS) Looks Inexpensive But Perhaps Not Attractive Enough

Jan 12
Healius Limited (ASX:HLS) Looks Inexpensive But Perhaps Not Attractive Enough
COH
AU$269.72
Cochlear
7D
2.1%
1Y
-13.6%

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
CSL
AU$176.70
CSL
7D
2.0%
1Y
-35.4%

CSL: Shares Will Recover As Seqirus Reset And Demerger Deferral Settle

Analysts have trimmed their CSL price target slightly, with fair value moving from about A$236.57 to A$232.45, as they factor in softer Seqirus vaccination trends and the deferred vaccine demerger, while still seeing the recent share pullback as an opportunity to re-engage with the stock. Analyst Commentary Recent research on CSL focuses heavily on the updated outlook for Seqirus, the indefinitely deferred vaccine demerger, and where the current share price sits relative to revised fair value estimates.
RHC
AU$36.69
Ramsay Health Care
7D
2.3%
1Y
12.2%

RHC: Future CFO Appointment Will Steady Margins While Valuation Appears Balanced

Analysts have slightly reduced their price target for Ramsay Health Care from A$34.50 to A$33.97. The change reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations.
REG
AU$6.71
Regis Healthcare
7D
-3.5%
1Y
6.2%
IMR
AU$2.02
Imricor Medical Systems
7D
11.0%
1Y
53.6%

Is Imricor Medical Systems (ASX:IMR) Using Debt In A Risky Way?

Nov 26
Is Imricor Medical Systems (ASX:IMR) Using Debt In A Risky Way?
NEU
AU$18.05
Neuren Pharmaceuticals
7D
-6.5%
1Y
32.7%
CU6
AU$3.08
Clarity Pharmaceuticals
7D
-19.8%
1Y
-21.0%