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Australian (ASX) Healthcare Services Industry Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.3%
  • 3M-7.6%
  • 1Y-9.5%
  • YTD-6.6%

Over the last 7 days, the Healthcare Services industry has dropped 2.9%, driven by pullbacks in Sigma Healthcare and Sonic Healthcare of 1.1% and 3.1%, respectively. Meanwhile, Regis Healthcare actually outperformed within the industry, gaining 5.2% in the last week. Overall the industry is down 10% in 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Mar 2026AU$54.1bAU$46.7bAU$908.9m33.9x59.5x1.2x
Sat, 21 Feb 2026AU$58.8bAU$42.0bAU$623.6m30.6x94.3x1.4x
Mon, 19 Jan 2026AU$58.5bAU$41.4bAU$594.1m42.5x98.5x1.4x
Wed, 17 Dec 2025AU$58.8bAU$41.4bAU$594.1m45.5x99.1x1.4x
Fri, 14 Nov 2025AU$58.4bAU$41.4bAU$594.1m46.1x98.4x1.4x
Sun, 12 Oct 2025AU$58.2bAU$41.6bAU$596.0m53.3x97.6x1.4x
Tue, 09 Sep 2025AU$60.0bAU$41.6bAU$596.0m57.3x100.7x1.4x
Thu, 07 Aug 2025AU$62.3bAU$37.9bAU$1.1b148.7x56.4x1.6x
Sat, 05 Jul 2025AU$62.9bAU$39.5bAU$549.6m157.9x114.5x1.6x
Mon, 02 Jun 2025AU$63.6bAU$39.5bAU$549.6m160.9x115.8x1.6x
Wed, 30 Apr 2025AU$61.2bAU$37.9bAU$1.1b133x55.4x1.6x
Fri, 28 Mar 2025AU$59.8bAU$37.9bAU$1.1b135.2x54.2x1.6x
Sun, 23 Feb 2025AU$62.2bAU$33.6bAU$694.8m30.9x89.5x1.9x
Tue, 21 Jan 2025AU$32.1bAU$36.7bAU$50.2m27.9x640.4x0.9x
Thu, 19 Dec 2024AU$32.0bAU$36.7bAU$50.2m30x638.4x0.9x
Sat, 16 Nov 2024AU$31.2bAU$36.9bAU$35.3m28.6x882.9x0.8x
Mon, 14 Oct 2024AU$32.7bAU$36.9bAU$35.3m31.3x925.2x0.9x
Wed, 11 Sep 2024AU$29.9bAU$36.8bAU$43.1m31.3x694.3x0.8x
Fri, 09 Aug 2024AU$29.3bAU$33.5b-AU$278,022,128.0045.2x-105.3x0.9x
Sun, 07 Jul 2024AU$29.6bAU$33.5b-AU$278,022,128.0044.7x-106.5x0.9x
Tue, 04 Jun 2024AU$27.9bAU$31.7b-AU$280,512,128.0029.6x-99.4x0.9x
Thu, 02 May 2024AU$29.8bAU$31.7b-AU$280,512,128.0031.4x-106.3x0.9x
Sat, 30 Mar 2024AU$32.6bAU$31.7b-AU$280,512,128.0035x-116.3x1x
Mon, 26 Feb 2024AU$31.7bAU$31.6bAU$357.4m27.2x88.7x1x
Wed, 24 Jan 2024AU$34.3bAU$32.8bAU$608.0m24.5x56.4x1x
Fri, 22 Dec 2023AU$34.2bAU$32.8bAU$608.0m24.3x56.3x1x
Sun, 19 Nov 2023AU$32.5bAU$32.8bAU$608.0m23.8x53.5x1x
Tue, 17 Oct 2023AU$32.9bAU$32.8bAU$608.0m24.9x54.2x1x
Thu, 14 Sep 2023AU$33.7bAU$33.0bAU$596.0m26.2x56.6x1x
Sat, 12 Aug 2023AU$37.0bAU$33.0bAU$1.3b25.8x28.3x1.1x
Mon, 10 Jul 2023AU$36.8bAU$33.0bAU$1.3b25.8x28x1.1x
Wed, 07 Jun 2023AU$37.6bAU$33.0bAU$1.3b25.9x28.7x1.1x
Fri, 05 May 2023AU$38.5bAU$32.5bAU$1.3b27.1x29.3x1.2x
Sun, 02 Apr 2023AU$39.1bAU$32.5bAU$1.3b24.7x29.8x1.2x
Price to Earnings Ratio

29.8x


Total Market Cap: AU$39.1bTotal Earnings: AU$1.3bTotal Revenue: AU$32.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average 167.1x202420252026
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 58.2x which is lower than its 3-year average PE of 167x.
  • 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 declined 12% per year over the last three years.
  • Meanwhile revenues for these companies have grown 13% 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 industry?

AU Market-1.24%
Healthcare-0.18%
Healthcare Services-1.32%
Healthcare Facilities-0.60%
Healthcare Distributors-0.92%
Healthcare Services-3.03%
Industry PE
  • Investors are most optimistic about the Healthcare Distributors industry even though it's trading below its 3-year average PE ratio of 4kx.
    • Analysts are expecting annual earnings growth of 17.5%, which is higher than its past year's earnings growth of 12.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Facilities industry, expecting annual earnings growth of 19% over the next 5 years.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 16% 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
REG Regis HealthcareAU$6.515.2%
+AU$96.8m		-2.5%PE51.8x
PGC Paragon CareAU$0.2020.6%
+AU$57.9m		-47.4%PS0.09x
MVF Monash IVF GroupAU$0.651.6%
+AU$3.9m		-39.8%PE16.7x

Latest News

IDX
AU$2.36
Integral Diagnostics
7D
-1.7%
1Y
2.2%
PGC
AU$0.20
Paragon Care
7D
20.6%
1Y
-47.4%
ACL
AU$2.02
Australian Clinical Labs
7D
-1.5%
1Y
-33.6%

ACL: Future Dividend Visibility Will Support Confidence In Undervalued Share Price

Analysts have trimmed their price target on Australian Clinical Labs from A$3.85 to A$3.50, citing updated assumptions that include a higher discount rate, a lower revenue growth outlook, a slightly higher profit margin and a modestly reduced future P/E multiple. What's in the News The Board has declared a fully franked interim dividend of A$0.0375 per share for the six months ending 31 December 2025, providing clearer visibility on near term cash returns (Key Developments).
RHC
AU$40.21
Ramsay Health Care
7D
-1.8%
1Y
21.7%

RHC: Revised Assumptions And Dividend Outlook Will Shape Future Share Performance

Analysts have lifted their price target on Ramsay Health Care from around A$37.09 to about A$43.33, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples following recent research, including a downgrade from Morgan Stanley. Analyst Commentary Bullish Takeaways Bullish analysts view the lift in the consolidated price target to about A$43.33 as support for upside potential if Ramsay delivers on its revised revenue and margin assumptions.
MAP
AU$0.07
Microba Life Sciences
7D
-12.5%
1Y
-65.0%
SHL
AU$20.15
Sonic Healthcare
7D
-3.1%
1Y
-22.1%

SHL: Upcoming Dividend And Stable Margins Will Support A Higher Future Multiple

Analysts have trimmed their price target for Sonic Healthcare slightly to A$26.03 from A$26.15. This reflects modestly softer assumptions for revenue growth, profit margins and future P/E multiples, while keeping the discount rate unchanged.
HLS
AU$0.57
Healius
7D
-2.5%
1Y
-56.1%
REG
AU$6.51
Regis Healthcare
7D
5.2%
1Y
-2.5%

REG: RAD Retention And M&A Pipeline Will Support Future Earnings Upside

Analysts now see a slightly different outlook for Regis Healthcare, with the updated price target moving in line with minor tweaks to revenue growth, profit margin assumptions and future P/E expectations. This results in a refined valuation around A$8.32 per share.
MVF
AU$0.65
Monash IVF Group
7D
1.6%
1Y
-39.8%
SIG
AU$2.65
Sigma Healthcare
7D
-1.1%
1Y
-9.6%
RHY
AU$0.20
Rhythm Biosciences
7D
-12.8%
1Y
147.0%