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

Australian (ASX) Healthcare Services Industry Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies12
  • 7D0.3%
  • 3M-6.9%
  • 1Y-8.9%
  • YTD-6.5%

Over the last 7 days, the Healthcare Services industry has dropped 2.6%, driven by Sigma Healthcare declining 5.8%. Overall the industry is down 9.9% in 12 months. 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
Tue, 31 Mar 2026AU$54.1bAU$46.7bAU$908.9m33.6x59.5x1.2x
Thu, 26 Feb 2026AU$59.2bAU$42.3bAU$622.0m37.7x95.2x1.4x
Sat, 24 Jan 2026AU$60.4bAU$41.4bAU$594.1m41.7x101.6x1.5x
Mon, 22 Dec 2025AU$58.9bAU$41.4bAU$594.1m45.2x99.1x1.4x
Wed, 19 Nov 2025AU$56.4bAU$41.4bAU$594.1m45.2x95x1.4x
Fri, 17 Oct 2025AU$58.3bAU$41.6bAU$596.0m53.2x97.9x1.4x
Sun, 14 Sep 2025AU$59.3bAU$41.6bAU$596.0m57.3x99.4x1.4x
Tue, 12 Aug 2025AU$61.4bAU$37.9bAU$1.1b148.7x55.6x1.6x
Thu, 10 Jul 2025AU$61.4bAU$39.5bAU$549.6m159x111.7x1.6x
Sat, 07 Jun 2025AU$63.0bAU$39.5bAU$549.6m151.4x114.7x1.6x
Mon, 05 May 2025AU$62.5bAU$37.9bAU$1.1b145.6x56.6x1.6x
Wed, 02 Apr 2025AU$59.3bAU$37.9bAU$1.1b133.2x53.7x1.6x
Fri, 28 Feb 2025AU$62.7bAU$34.2bAU$558.1m144.3x112.4x1.8x
Sun, 26 Jan 2025AU$32.0bAU$36.7bAU$50.2m29.5x637.5x0.9x
Tue, 24 Dec 2024AU$31.4bAU$36.7bAU$50.2m28.9x624.9x0.9x
Thu, 21 Nov 2024AU$32.2bAU$36.9bAU$35.3m28.5x910.4x0.9x
Sat, 19 Oct 2024AU$32.6bAU$36.9bAU$35.3m30.5x921.5x0.9x
Mon, 16 Sep 2024AU$30.8bAU$36.8bAU$43.1m31.7x714.4x0.8x
Wed, 14 Aug 2024AU$29.6bAU$33.5b-AU$278,022,128.0043x-106.4x0.9x
Fri, 12 Jul 2024AU$29.4bAU$33.5b-AU$278,022,128.0044.4x-105.7x0.9x
Sun, 09 Jun 2024AU$29.1bAU$33.5b-AU$278,022,128.0041.6x-104.7x0.9x
Tue, 07 May 2024AU$29.9bAU$31.7b-AU$280,512,128.0032x-106.6x0.9x
Thu, 04 Apr 2024AU$31.6bAU$31.7b-AU$280,512,128.0034.7x-112.7x1x
Sat, 02 Mar 2024AU$31.4bAU$31.8b-AU$285,487,128.0029.6x-110.1x1x
Mon, 29 Jan 2024AU$34.2bAU$32.8bAU$608.0m24.9x56.3x1x
Wed, 27 Dec 2023AU$34.4bAU$32.8bAU$608.0m24.2x56.5x1x
Fri, 24 Nov 2023AU$31.4bAU$32.8bAU$608.0m23.9x51.6x1x
Sun, 22 Oct 2023AU$32.3bAU$32.8bAU$608.0m24.6x53.1x1x
Tue, 19 Sep 2023AU$33.9bAU$33.0bAU$596.0m25.9x56.9x1x
Thu, 17 Aug 2023AU$36.6bAU$33.0bAU$1.3b25.9x27.9x1.1x
Sat, 15 Jul 2023AU$37.5bAU$33.0bAU$1.3b26.6x28.6x1.1x
Mon, 12 Jun 2023AU$37.6bAU$33.0bAU$1.3b25.5x28.7x1.1x
Wed, 10 May 2023AU$38.1bAU$32.5bAU$1.3b26.6x29.1x1.2x
Fri, 07 Apr 2023AU$40.3bAU$32.5bAU$1.3b24.8x30.7x1.2x
Price to Earnings Ratio

30.7x


Total Market Cap: AU$40.3bTotal Earnings: AU$1.3bTotal Revenue: AU$32.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average 167.3x202420252026
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 59.3x 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 Market0.96%
Healthcare0.19%
Healthcare Services0.32%
Healthcare Services2.09%
Healthcare Facilities0.17%
Healthcare Distributors-0.29%
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$20.502.7%
+AU$266.8m		-20.4%PE18.8x
PGC Paragon CareAU$0.198.6%
+AU$24.8m		-49.3%PS0.09x
ACL Australian Clinical LabsAU$2.024.4%
+AU$15.4m		-32.2%PE14.4x
REG Regis HealthcareAU$6.200.6%
+AU$12.1m		-8.3%PE49.3x
RHC Ramsay Health CareAU$39.850.1%
+AU$11.5m		16.8%PE33.6x

Latest News

RHC
AU$39.85
Ramsay Health Care
7D
0.1%
1Y
16.8%
SHL
AU$20.50
Sonic Healthcare
7D
2.7%
1Y
-20.4%

SHL: Upcoming Dividend And Conservative Assumptions Will Support A Higher Future Multiple

Analysts have nudged Sonic Healthcare's fair value estimate slightly lower, trimming their price target by about A$0.28 as small adjustments to revenue growth, profit margin assumptions and future P/E expectations feed into a more conservative valuation. What's in the News Sonic Healthcare declared a dividend of A$0.45 per share for the six months ended 31 December 2025, giving investors clarity on the upcoming income timeline.
IDX
AU$2.35
Integral Diagnostics
7D
-3.3%
1Y
2.6%

IDX: Merger Synergies And New Sites Will Drive Future Upside

Analysts have nudged their price target on Integral Diagnostics slightly lower to A$3.12 from A$3.13. This reflects minor adjustments to fair value estimates, discount rate assumptions and forward P/E expectations.
PGC
AU$0.19
Paragon Care
7D
8.6%
1Y
-49.3%

PGC: Ramsay Exit And Index Inclusion Will Support Future Margin Upside

Analysts have trimmed Paragon Care's fair value estimate slightly from A$0.32 to A$0.31. This reflects updated assumptions on future P/E and profitability while core discount rate and growth inputs remain broadly unchanged.
ACL
AU$2.02
Australian Clinical Labs
7D
4.4%
1Y
-32.2%

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).
MAP
AU$0.075
Microba Life Sciences
7D
11.9%
1Y
-62.5%
HLS
AU$0.54
Healius
7D
-3.6%
1Y
-61.6%
REG
AU$6.20
Regis Healthcare
7D
0.6%
1Y
-8.3%

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$0.63
Monash IVF Group
7D
-1.6%
1Y
-44.5%
SIG
AU$2.66
Sigma Healthcare
7D
-0.4%
1Y
-7.6%
IIQ
AU$0.33
INOVIQ
7D
-1.5%
1Y
-19.8%
RHY
AU$0.20
Rhythm Biosciences
7D
2.6%
1Y
143.8%