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Australian (ASX) Healthcare Services Industry Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies13
  • 7D1.0%
  • 3M3.6%
  • 1Y0.4%
  • YTD4.7%

The Healthcare Services industry has stayed flat over the last week. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026AU$60.8bAU$41.4bAU$594.1m41.4x102.3x1.5x
Sat, 03 Jan 2026AU$58.0bAU$41.4bAU$594.1m42.9x97.7x1.4x
Mon, 01 Dec 2025AU$58.9bAU$41.4bAU$594.1m48.9x99.1x1.4x
Wed, 29 Oct 2025AU$59.0bAU$41.6bAU$596.0m55.7x99x1.4x
Fri, 26 Sep 2025AU$57.8bAU$41.6bAU$596.0m52.4x97x1.4x
Sun, 24 Aug 2025AU$59.9bAU$37.8bAU$569.3m96.6x105.2x1.6x
Tue, 22 Jul 2025AU$59.8bAU$39.5bAU$549.6m156.7x108.8x1.5x
Thu, 19 Jun 2025AU$64.0bAU$39.5bAU$549.6m151x116.5x1.6x
Sat, 17 May 2025AU$61.8bAU$39.5bAU$549.6m159x112.4x1.6x
Mon, 14 Apr 2025AU$59.8bAU$37.9bAU$1.1b131x54.1x1.6x
Wed, 12 Mar 2025AU$58.6bAU$37.9bAU$1.1b59.7x52.6x1.5x
Fri, 07 Feb 2025AU$32.7bAU$33.2bAU$53.2m30.3x614.9x1x
Sun, 05 Jan 2025AU$31.6bAU$36.7bAU$50.2m28x630x0.9x
Tue, 03 Dec 2024AU$34.1bAU$36.9bAU$35.3m28.8x965.6x0.9x
Thu, 31 Oct 2024AU$32.2bAU$36.9bAU$35.3m30.1x912.7x0.9x
Sat, 28 Sep 2024AU$31.3bAU$36.9bAU$35.6m29.9x879.5x0.8x
Mon, 26 Aug 2024AU$30.4bAU$34.2bAU$27.0m42.9x1128.6x0.9x
Wed, 24 Jul 2024AU$30.0bAU$33.5b-AU$278,022,128.0044.4x-108x0.9x
Fri, 21 Jun 2024AU$30.3bAU$33.5b-AU$278,022,128.0045.9x-109.1x0.9x
Sun, 19 May 2024AU$29.8bAU$31.7b-AU$280,512,128.0029.9x-106.1x0.9x
Tue, 16 Apr 2024AU$30.2bAU$31.7b-AU$280,512,128.0031.8x-107.6x1x
Thu, 14 Mar 2024AU$31.6bAU$31.8b-AU$270,491,128.0033.5x-116.8x1x
Sat, 10 Feb 2024AU$33.0bAU$31.4bAU$615.3m24.1x53.6x1.1x
Mon, 08 Jan 2024AU$34.3bAU$32.8bAU$608.0m24.5x56.4x1x
Wed, 06 Dec 2023AU$31.6bAU$32.8bAU$608.0m23.9x52x1x
Fri, 03 Nov 2023AU$32.2bAU$32.8bAU$608.0m24.5x52.9x1x
Sun, 01 Oct 2023AU$33.3bAU$32.8bAU$608.8m25.8x54.8x1x
Tue, 29 Aug 2023AU$34.1bAU$33.0bAU$988.9m24.9x34.5x1x
Thu, 27 Jul 2023AU$37.1bAU$33.0bAU$1.3b26.3x28.3x1.1x
Sat, 24 Jun 2023AU$36.7bAU$33.0bAU$1.3b25.3x28x1.1x
Mon, 22 May 2023AU$38.5bAU$33.0bAU$1.3b25.8x29.4x1.2x
Wed, 19 Apr 2023AU$39.6bAU$32.5bAU$1.3b26.4x30.2x1.2x
Fri, 17 Mar 2023AU$38.7bAU$32.4bAU$1.3b23.8x29.7x1.2x
Sun, 12 Feb 2023AU$35.6bAU$33.1bAU$2.1b23.1x16.7x1.1x
Price to Earnings Ratio

16.7x


Total Market Cap: AU$35.6bTotal Earnings: AU$2.1bTotal Revenue: AU$33.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average 164.7x202420252026
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 102x which is lower than its 3-year average PE of 165x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 35% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.8% 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-0.62%
Healthcare-1.58%
Healthcare Services0.97%
Healthcare Distributors2.24%
Healthcare Services-0.81%
Healthcare Facilities-1.06%
Industry PE
  • Investors are most optimistic about the Healthcare Facilities industry, which is trading close to its 3-year average PE ratio of 137x.
    • Analysts are expecting annual earnings growth of 27.9%, which is higher than its past year's earnings decline of 97.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Facilities industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings decline of 97% per year.
  • In contrast, the Healthcare Distributors industry is expected to see its earnings grow by 17% 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$3.162.3%
+AU$805.1m		12.5%PE68.6x
HLS HealiusAU$0.942.7%
+AU$18.2m		-31.6%PS0.5x
RHY Rhythm BiosciencesAU$0.1716.7%
+AU$8.2m		105.9%PS17.9x
REG Regis HealthcareAU$6.700.3%
+AU$6.0m		2.4%PE41.4x
ACL Australian Clinical LabsAU$2.680.4%
+AU$1.9m		-27.6%PE15.8x

Latest News

SIG
AU$3.16
Sigma Healthcare
7D
2.3%
1Y
12.5%

Calculating The Fair Value Of Sigma Healthcare Limited (ASX:SIG)

Feb 05
Calculating The Fair Value Of Sigma Healthcare Limited (ASX:SIG)
HLS
AU$0.94
Healius
7D
2.7%
1Y
-31.6%
RHC
AU$35.56
Ramsay Health Care
7D
-1.3%
1Y
5.6%

RHC: CFO Appointment Will Support Risk Management While Outlook Remains Measured

Analysts have trimmed their price targets on Ramsay Health Care, reflecting a modest reset based on small tweaks to discount rate, revenue growth, profit margin and forward P/E assumptions following the latest sector views. Analyst Commentary Bearish analysts are treating the latest sector views as a reason to be more cautious on Ramsay Health Care, with price target resets framed around more conservative assumptions rather than any single headline event.
RHY
AU$0.17
Rhythm Biosciences
7D
16.7%
1Y
105.9%
SHL
AU$22.57
Sonic Healthcare
7D
-1.0%
1Y
-19.9%

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?
REG
AU$6.70
Regis Healthcare
7D
0.3%
1Y
2.4%
MVF
AU$0.70
Monash IVF Group
7D
-2.8%
1Y
-39.5%
ACL
AU$2.68
Australian Clinical Labs
7D
0.4%
1Y
-27.6%

ACL: Updated Discount Rate And Margins Will Shape A Measured Outlook

Analysts have trimmed their price target for Australian Clinical Labs to A$2.80 from A$2.90, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E, which together point to a slightly more cautious valuation outlook. Valuation Changes Fair Value Estimate: Trimmed slightly from A$2.90 to A$2.80, reflecting a modestly lower central valuation point.
MAP
AU$0.087
Microba Life Sciences
7D
2.4%
1Y
-71.0%

Microbiome Testing Reliance Will Pressure Margins Yet Partnering Optionality May Still Emerge

Catalysts About Microba Life Sciences Microba Life Sciences provides microbiome based diagnostic testing and develops live biotherapeutic assets aimed at chronic disease. What are the underlying business or industry changes driving this perspective?
IDX
AU$2.51
Integral Diagnostics
7D
-2.3%
1Y
-17.2%
IIQ
AU$0.34
INOVIQ
7D
-6.8%
1Y
-25.3%
AHX
AU$0.86
Apiam Animal Health
7D
-0.6%
1Y
106.0%