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Australian (ASX) Healthcare Services Industry Analysis

UpdatedAug 23, 2026
DataAggregated Company Financials
Companies12
  • 7D-2.1%
  • 3M6.1%
  • 1Y-1.7%
  • YTD0.9%

Over the last 7 days, the Healthcare Services industry has dropped 2.1%, driven by Sigma Healthcare declining 2.7%. Meanwhile, Australian Clinical Labs actually outperformed within the industry, gaining 26% in the last week. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the Australian Healthcare Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Aug 2026AU$58.4bAU$47.1bAU$1.1b37.9x52.3x1.2x
Tue, 21 Jul 2026AU$58.2bAU$46.7bAU$908.9m36.2x64.1x1.2x
Thu, 18 Jun 2026AU$55.1bAU$46.7bAU$908.9m32.5x60.6x1.2x
Sat, 16 May 2026AU$54.7bAU$46.7bAU$908.9m31.6x60.2x1.2x
Mon, 13 Apr 2026AU$54.0bAU$46.7bAU$908.9m33.5x59.4x1.2x
Wed, 11 Mar 2026AU$56.7bAU$46.7bAU$908.9m35.8x62.4x1.2x
Fri, 06 Feb 2026AU$60.9bAU$41.4bAU$594.1m41.1x102.4x1.5x
Sun, 04 Jan 2026AU$58.0bAU$41.4bAU$594.1m42.9x97.7x1.4x
Tue, 02 Dec 2025AU$58.5bAU$41.4bAU$594.1m48.9x98.5x1.4x
Thu, 30 Oct 2025AU$59.0bAU$41.6bAU$596.0m56.6x99x1.4x
Sat, 27 Sep 2025AU$57.5bAU$41.6bAU$596.0m51.9x96.4x1.4x
Mon, 25 Aug 2025AU$59.9bAU$37.8bAU$569.3m96.6x105.2x1.6x
Wed, 23 Jul 2025AU$60.1bAU$39.5bAU$549.6m156.5x109.4x1.5x
Fri, 20 Jun 2025AU$63.6bAU$39.5bAU$549.6m150.5x115.7x1.6x
Sun, 18 May 2025AU$61.8bAU$39.5bAU$549.6m159x112.4x1.6x
Tue, 15 Apr 2025AU$60.1bAU$37.9bAU$1.1b133.2x54.4x1.6x
Thu, 13 Mar 2025AU$57.8bAU$37.9bAU$1.1b58.9x51.9x1.5x
Sat, 08 Feb 2025AU$32.8bAU$33.2bAU$53.2m30.2x615.9x1x
Mon, 06 Jan 2025AU$31.6bAU$36.7bAU$50.2m28x630x0.9x
Wed, 04 Dec 2024AU$34.4bAU$36.9bAU$35.3m29.5x972.5x0.9x
Fri, 01 Nov 2024AU$32.2bAU$36.9bAU$35.3m30.3x912.7x0.9x
Sun, 29 Sep 2024AU$31.3bAU$36.9bAU$35.6m29.9x880.1x0.8x
Tue, 27 Aug 2024AU$31.7bAU$35.3bAU$5.6m43.2x5700.8x0.9x
Thu, 25 Jul 2024AU$29.7bAU$33.5b-AU$278,022,128.0044x-107x0.9x
Sat, 22 Jun 2024AU$30.5bAU$33.5b-AU$278,022,128.0045.9x-109.7x0.9x
Mon, 20 May 2024AU$29.8bAU$31.7b-AU$280,512,128.0029.9x-106.1x0.9x
Wed, 17 Apr 2024AU$30.2bAU$31.7b-AU$280,512,128.0031.6x-107.6x1x
Fri, 15 Mar 2024AU$31.2bAU$31.8b-AU$270,491,128.0032.9x-115.4x1x
Sun, 11 Feb 2024AU$33.0bAU$31.4bAU$615.3m24.1x53.6x1.1x
Tue, 09 Jan 2024AU$34.0bAU$32.8bAU$608.0m24.3x56x1x
Thu, 07 Dec 2023AU$32.3bAU$32.8bAU$608.0m24.2x53.2x1x
Sat, 04 Nov 2023AU$32.3bAU$32.8bAU$608.0m23.9x53.1x1x
Mon, 02 Oct 2023AU$33.3bAU$32.8bAU$608.8m25.8x54.8x1x
Wed, 30 Aug 2023AU$34.3bAU$33.1bAU$985.4m28.5x34.8x1x
Price to Earnings Ratio

34.8x


Total Market Cap: AU$34.3bTotal Earnings: AU$985.4mTotal Revenue: AU$33.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average 171.5x202420252026
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 52.3x which is lower than its 3-year average PE of 172x.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 4.2% per year over the last three years.
  • Revenues for these companies have grown 13% 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 industry?

AU Market-0.61%
Healthcare8.28%
Healthcare Services-2.11%
Healthcare Facilities1.01%
Healthcare Distributors-2.64%
Healthcare Services-3.73%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 11.1%, which is lower than the prior year's growth of 18.4% per year.
  • Investors are most pessimistic about the Healthcare Facilities industry, which is trading below its 3-year average of 131x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Facilities industry, expecting annual earnings growth of 18% over the next 5 years.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 11% 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
ACL Australian Clinical LabsAU$2.9626.0%
+AU$111.8m		17.9%PE23.1x
REG Regis HealthcareAU$6.393.6%
+AU$66.5m		-22.6%PE50.8x
HLS HealiusAU$0.4613.8%
+AU$39.9m		-45.2%PS0.2x
RHC Ramsay Health CareAU$45.000.4%
+AU$39.1m		17.8%PE37.9x
MVF Monash IVF GroupAU$0.747.2%
+AU$19.5m		7.2%PE19.2x

Latest News

SHL
AU$21.08
Sonic Healthcare
7D
-5.8%
1Y
-14.3%
HLS
AU$0.46
Healius
7D
13.8%
1Y
-45.2%
Narrative Update • Aug 21

HLS: Planned Agilex Sale Will Expose Weaker Earnings And Balance Sheet

Analysts have lifted their price target for Healius from A$0.27 to A$0.37, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples that they view as better aligned with the company’s current outlook. What’s in the News for Healius Healius is in discussions to sell its Agilex Biolabs business, with UBS running the process and attracting interest from at least two private equity firms.
IDX
AU$2.25
Integral Diagnostics
7D
0.4%
1Y
-16.0%
Narrative Update • Aug 20

IDX: Neutral Upgrade And 2026 Guidance Will Support Improved Risk Reward

Analysts have trimmed their fair value estimate for Integral Diagnostics from A$4.00 to A$3.60, reflecting updated assumptions on discount rates, growth and margins, alongside recent research that now sees a more balanced risk and reward for the stock. What’s in the News for Integral Diagnostics Integral Diagnostics issued preliminary earnings guidance for fiscal 2026, with revenue expected in a range of A$788 million to A$790 million, compared with A$628.0 million in fiscal 2025.
ACL
AU$2.96
Australian Clinical Labs
7D
26.0%
1Y
17.9%
Narrative Update • Aug 19

ACL: CEO Transition And Updated Assumptions Will Shape Fairly Valued Outlook

Analysts have nudged their valuation higher for Australian Clinical Labs, lifting the indicated fair value from A$2.58 to A$2.88. This reflects refreshed assumptions on discount rate, revenue growth, profit margins and future P/E.
PGC
AU$0.14
Paragon Care
7D
3.7%
1Y
-64.6%
Narrative Update • Aug 18

PGC: Higher Margin Outlook And Lower P/E Multiple Will Support Upside

Paragon Care's analyst price target remains at A$0.17. Analysts point to updated assumptions around a 7.18% discount rate, revenue growth of 3.12%, profit margin of 1.58% and a future P/E of 5.45x as key inputs supporting this unchanged valuation.
RHC
AU$45.00
Ramsay Health Care
7D
0.4%
1Y
17.8%
Narrative Update • Aug 14

RHC: Dividend Strength And Potential UK Exit Will Support Future Upside

The analyst price target for Ramsay Health Care has been revised slightly higher to A$43.96 from A$42.65, with analysts citing small updates to the discount rate, revenue growth, profit margin and future P/E assumptions to support the change. What’s in the News for Ramsay Health Care No recent Ramsay Health Care news items were available from the specified sources as of 14 Aug 2026.
MAP
AU$0.057
Microba Life Sciences
7D
18.8%
1Y
-40.6%
Narrative Update • Aug 07

MAP: Recent Equity Raising Will Support Future Upside Potential

Analysts have lifted their fair value estimate for Microba Life Sciences from A$0.08 to A$0.12, reflecting updated assumptions around revenue growth, profit margins and a higher future P/E multiple. What’s in the News for Microba Life Sciences Microba Life Sciences completed a follow on equity offering of A$5.000212 million in ordinary shares, including 91,344,455 securities at A$0.05 with a A$0.003 discount per security and attached options, and a further 8,659,785 securities on the same terms, with the transaction described as a subsequent direct listing.
REG
AU$6.39
Regis Healthcare
7D
3.6%
1Y
-22.6%
Narrative Update • Jul 14

REG: CFO Transition And M&A Pipeline Will Support Future Earnings Upside

Analysts have trimmed their fair value estimate for Regis Healthcare from A$8.32 to A$7.79. This reflects slightly more conservative assumptions for the discount rate, revenue growth, profit margin and future P/E.
SIG
AU$2.90
Sigma Healthcare
7D
-2.7%
1Y
1.8%
IIQ
AU$0.18
INOVIQ
7D
-5.1%
1Y
-53.8%
MVF
AU$0.74
Monash IVF Group
7D
7.2%
1Y
7.2%