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

Australian (ASX) Healthcare Services Industry Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies12
  • 7D-3.4%
  • 3M-3.0%
  • 1Y-7.0%
  • YTD-3.2%

Over the last 7 days, the Healthcare Services industry has dropped 3.4%, driven by a pullback from Sonic Healthcare of 7.3%. The industry has fallen 7.0% in the last year. 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, 10 Mar 2026AU$56.0bAU$46.7bAU$908.9m35.2x61.6x1.2x
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
Price to Earnings Ratio

29.7x


Total Market Cap: AU$38.7bTotal Earnings: AU$1.3bTotal Revenue: AU$32.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average 166.7x202420252026
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 61.6x 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 11% 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-6.36%
Healthcare-3.19%
Healthcare Services-3.40%
Healthcare Distributors-1.52%
Healthcare Facilities-3.79%
Healthcare Services-7.44%
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 17.4%, 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
SIG Sigma HealthcareAU$2.750.7%
+AU$230.0m		-1.8%PE52.7x
PGC Paragon CareAU$0.182.8%
+AU$8.3m		-56.0%PS0.08x
RHY Rhythm BiosciencesAU$0.208.1%
+AU$4.9m		135.3%PS39.8x

Latest News

ACL
AU$2.19
Australian Clinical Labs
7D
-0.5%
1Y
-28.2%

ACL: Dividend Timeline And Updated Assumptions Will Shape A Measured Outlook

Analysts have nudged their price target for Australian Clinical Labs higher to A$2.40, reflecting updated assumptions around revenue growth, profit margins, the discount rate and future P/E that slightly increase their view of fair value from A$2.30. 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, indicating a cash return to shareholders for that period (Key Developments).
RHC
AU$42.47
Ramsay Health Care
7D
-0.3%
1Y
24.4%

RHC: Execution Risks Will Cap Upside Despite Higher Fair Value Estimate

Analysts now see fair value for Ramsay Health Care at A$35.70, up from A$33.97. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples.
MVF
AU$0.65
Monash IVF Group
7D
-4.4%
1Y
-43.4%
IDX
AU$2.37
Integral Diagnostics
7D
-2.5%
1Y
5.3%
REG
AU$6.69
Regis Healthcare
7D
-4.7%
1Y
8.1%
PGC
AU$0.18
Paragon Care
7D
2.8%
1Y
-56.0%
SIG
AU$2.75
Sigma Healthcare
7D
0.7%
1Y
-1.8%
SHL
AU$21.92
Sonic Healthcare
7D
-7.3%
1Y
-15.8%

SHL: Dividend Clarity And Steady Margins Will Support A Fair Future Multiple

Analysts have trimmed their 12 month price target for Sonic Healthcare by a small amount to A$26.15, reflecting updated assumptions for more moderate revenue growth, slightly higher profit margins and a modestly higher future P/E multiple. What's in the News Sonic Healthcare declared a dividend of A$0.45 per share for the six months ended December 31, 2025, giving investors clarity on upcoming income timing (Key Developments).
IIQ
AU$0.34
INOVIQ
7D
-1.5%
1Y
-6.9%
RHY
AU$0.20
Rhythm Biosciences
7D
8.1%
1Y
135.3%
HLS
AU$0.64
Healius
7D
-3.8%
1Y
-51.7%