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Australian (ASX) Healthcare Services Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies12
  • 7D-0.3%
  • 3M-7.8%
  • 1Y-10.4%
  • YTD-6.8%

Over the last 7 days, the Healthcare Services industry has remained flat, although notably Regis Healthcare gained 10%. As for the longer term, the industry has declined 10% in the last year. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026AU$54.0bAU$46.7bAU$908.9m34.1x59.4x1.2x
Sun, 22 Feb 2026AU$58.8bAU$42.0bAU$623.6m30.6x94.3x1.4x
Tue, 20 Jan 2026AU$58.0bAU$41.4bAU$594.1m41.9x97.6x1.4x
Thu, 18 Dec 2025AU$58.2bAU$41.4bAU$594.1m44.8x98x1.4x
Sat, 15 Nov 2025AU$56.9bAU$41.4bAU$594.1m44.8x95.8x1.4x
Mon, 13 Oct 2025AU$58.2bAU$41.6bAU$596.0m53.3x97.6x1.4x
Wed, 10 Sep 2025AU$59.6bAU$41.6bAU$596.0m57.4x100x1.4x
Fri, 08 Aug 2025AU$61.8bAU$37.9bAU$1.1b148.7x56x1.6x
Sun, 06 Jul 2025AU$62.9bAU$39.5bAU$549.6m157.9x114.5x1.6x
Tue, 03 Jun 2025AU$62.4bAU$39.5bAU$549.6m161x113.5x1.6x
Thu, 01 May 2025AU$61.2bAU$37.9bAU$1.1b136x55.4x1.6x
Sat, 29 Mar 2025AU$59.9bAU$37.9bAU$1.1b137.4x54.2x1.6x
Mon, 24 Feb 2025AU$62.2bAU$33.6bAU$694.8m30.9x89.5x1.9x
Wed, 22 Jan 2025AU$31.9bAU$36.7bAU$50.2m28.7x635.3x0.9x
Fri, 20 Dec 2024AU$31.5bAU$36.7bAU$50.2m29x627x0.9x
Sun, 17 Nov 2024AU$31.2bAU$36.9bAU$35.3m28.5x882.9x0.8x
Tue, 15 Oct 2024AU$32.7bAU$36.9bAU$35.3m31.3x925.2x0.9x
Thu, 12 Sep 2024AU$29.8bAU$36.8bAU$43.1m31.4x690.6x0.8x
Sat, 10 Aug 2024AU$29.5bAU$33.5b-AU$278,022,128.0043.2x-106.1x0.9x
Mon, 08 Jul 2024AU$29.6bAU$33.5b-AU$278,022,128.0044.7x-106.5x0.9x
Wed, 05 Jun 2024AU$28.1bAU$31.7b-AU$280,512,128.0029.6x-100.2x0.9x
Fri, 03 May 2024AU$29.5bAU$31.7b-AU$280,512,128.0031.3x-105.3x0.9x
Sun, 31 Mar 2024AU$32.6bAU$31.7b-AU$280,512,128.0035x-116.3x1x
Tue, 27 Feb 2024AU$30.9bAU$30.9bAU$385.8m26.4x80.2x1x
Thu, 25 Jan 2024AU$34.2bAU$32.8bAU$608.0m24.7x56.3x1x
Sat, 23 Dec 2023AU$34.4bAU$32.8bAU$608.0m24.2x56.5x1x
Mon, 20 Nov 2023AU$32.5bAU$32.8bAU$608.0m23.8x53.5x1x
Wed, 18 Oct 2023AU$32.9bAU$32.8bAU$608.0m24.9x54.2x1x
Fri, 15 Sep 2023AU$34.0bAU$33.0bAU$596.0m26.3x57x1x
Sun, 13 Aug 2023AU$37.0bAU$33.0bAU$1.3b25.8x28.3x1.1x
Tue, 11 Jul 2023AU$36.7bAU$33.0bAU$1.3b25.7x28x1.1x
Thu, 08 Jun 2023AU$37.7bAU$33.0bAU$1.3b25.9x28.7x1.1x
Sat, 06 May 2023AU$38.3bAU$32.5bAU$1.3b26.5x29.2x1.2x
Mon, 03 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 59.4x 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 Market0.32%
Healthcare2.66%
Healthcare Services-0.32%
Healthcare Facilities2.60%
Healthcare Services-0.52%
Healthcare Distributors-1.30%
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 17.6%, 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
SHL Sonic HealthcareAU$20.632.8%
+AU$276.7m		-20.0%PE18.9x
RHC Ramsay Health CareAU$40.211.0%
+AU$92.0m		16.2%PE33.9x
PGC Paragon CareAU$0.2017.1%
+AU$49.7m		-48.1%PS0.09x
ACL Australian Clinical LabsAU$2.024.1%
+AU$14.1m		-32.0%PE14.4x
MVF Monash IVF GroupAU$0.641.6%
+AU$3.9m		-43.0%PE16.3x

Latest News

IDX
AU$2.35
Integral Diagnostics
7D
-4.9%
1Y
1.7%
PGC
AU$0.20
Paragon Care
7D
17.1%
1Y
-48.1%
ACL
AU$2.02
Australian Clinical Labs
7D
4.1%
1Y
-32.0%

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
1.0%
1Y
16.2%

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$0.075
Microba Life Sciences
7D
-3.8%
1Y
-65.1%
SHL
AU$20.63
Sonic Healthcare
7D
2.8%
1Y
-20.0%

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$0.56
Healius
7D
-1.8%
1Y
-61.6%
MVF
AU$0.64
Monash IVF Group
7D
1.6%
1Y
-43.0%
SIG
AU$2.62
Sigma Healthcare
7D
-5.8%
1Y
-9.3%
IIQ
AU$0.34
INOVIQ
7D
-4.2%
1Y
-14.8%
RHY
AU$0.18
Rhythm Biosciences
7D
-7.5%
1Y
131.3%