Australian (ASX) Healthcare Services Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 09 Jul 2026	AU$57.2b	AU$46.7b	AU$908.9m	36.3x	63x	1.2x
Sat, 06 Jun 2026	AU$55.5b	AU$46.7b	AU$908.9m	30.8x	61.1x	1.2x
Mon, 04 May 2026	AU$55.2b	AU$46.7b	AU$908.9m	32.2x	60.8x	1.2x
Wed, 01 Apr 2026	AU$53.8b	AU$46.7b	AU$908.9m	32.9x	59.2x	1.2x
Fri, 27 Feb 2026	AU$59.9b	AU$43.1b	AU$887.6m	28.7x	67.5x	1.4x
Sun, 25 Jan 2026	AU$60.4b	AU$41.4b	AU$594.1m	41.7x	101.6x	1.5x
Tue, 23 Dec 2025	AU$58.2b	AU$41.4b	AU$594.1m	44.4x	98x	1.4x
Thu, 20 Nov 2025	AU$56.7b	AU$41.4b	AU$594.1m	44.3x	95.4x	1.4x
Sat, 18 Oct 2025	AU$58.2b	AU$41.6b	AU$596.0m	52.8x	97.6x	1.4x
Mon, 15 Sep 2025	AU$59.3b	AU$41.6b	AU$596.0m	57.3x	99.4x	1.4x
Wed, 13 Aug 2025	AU$61.7b	AU$37.9b	AU$1.1b	148.7x	55.9x	1.6x
Fri, 11 Jul 2025	AU$60.7b	AU$39.5b	AU$549.6m	159.9x	110.5x	1.5x
Sun, 08 Jun 2025	AU$63.0b	AU$39.5b	AU$549.6m	151.4x	114.7x	1.6x
Tue, 06 May 2025	AU$63.2b	AU$37.9b	AU$1.1b	142x	57.2x	1.7x
Thu, 03 Apr 2025	AU$59.6b	AU$37.9b	AU$1.1b	135.2x	54x	1.6x
Sat, 01 Mar 2025	AU$61.2b	AU$37.9b	AU$1.1b	62.7x	55x	1.6x
Mon, 27 Jan 2025	AU$32.0b	AU$36.7b	AU$50.2m	29.5x	637.5x	0.9x
Wed, 25 Dec 2024	AU$31.5b	AU$36.7b	AU$50.2m	28.9x	627.3x	0.9x
Fri, 22 Nov 2024	AU$32.2b	AU$36.9b	AU$35.3m	28.9x	911.9x	0.9x
Sun, 20 Oct 2024	AU$32.6b	AU$36.9b	AU$35.3m	30.5x	921.5x	0.9x
Tue, 17 Sep 2024	AU$30.8b	AU$36.8b	AU$43.1m	32.1x	714.7x	0.8x
Thu, 15 Aug 2024	AU$29.9b	AU$33.5b	-AU$278,022,128.00	43.2x	-107.6x	0.9x
Sat, 13 Jul 2024	AU$29.8b	AU$33.5b	-AU$278,022,128.00	44.4x	-107.2x	0.9x
Mon, 10 Jun 2024	AU$29.1b	AU$33.5b	-AU$278,022,128.00	41.6x	-104.7x	0.9x
Wed, 08 May 2024	AU$30.3b	AU$31.7b	-AU$280,512,128.00	32.2x	-107.9x	1x
Fri, 05 Apr 2024	AU$31.8b	AU$31.7b	-AU$280,512,128.00	34.3x	-113.3x	1x
Sun, 03 Mar 2024	AU$31.4b	AU$31.8b	-AU$270,491,128.00	31.7x	-116.2x	1x
Tue, 30 Jan 2024	AU$34.4b	AU$32.8b	AU$608.0m	24.9x	56.5x	1x
Thu, 28 Dec 2023	AU$34.6b	AU$32.8b	AU$608.0m	24.3x	56.9x	1.1x
Sat, 25 Nov 2023	AU$31.3b	AU$32.8b	AU$608.0m	24.5x	51.4x	1x
Mon, 23 Oct 2023	AU$32.3b	AU$32.8b	AU$608.0m	24.6x	53.1x	1x
Wed, 20 Sep 2023	AU$33.5b	AU$33.0b	AU$596.0m	25.8x	56.3x	1x
Fri, 18 Aug 2023	AU$35.5b	AU$32.5b	AU$981.1m	26.1x	36.2x	1.1x
Sun, 16 Jul 2023	AU$37.5b	AU$33.0b	AU$1.3b	26.6x	28.6x	1.1x

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 63.0x which is lower than its 3-year average PE of 170x.

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 12% 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	0.20%
Healthcare	4.25%
Healthcare Services	2.06%
Healthcare Services	4.37%
Healthcare Distributors	2.61%
Healthcare Facilities	-1.58%

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 15.6%, 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 18% over the next 5 years.

In contrast, the Healthcare Services industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
SIG Sigma Healthcare	AU$2.80	2.2% +AU$690.1m	-3.1%	PE53.7x
SHL Sonic Healthcare	AU$21.85	4.1% +AU$429.9m	-19.0%	PE20x
IDX Integral Diagnostics	AU$2.05	2.0% +AU$14.9m	-20.2%	PE54.4x
HLS Healius	AU$0.39	4.1% +AU$10.9m	-48.0%	PS0.2x

WHSP Holdings Limited (ASX:SOL) and Genesis Capital cancelled the acquisition of 80.4% stake in Monash IVF Group Limited (ASX:MVF).

WHSP Holdings Limited (ASX:SOL) and Genesis Capital entered into a non-binding indicative proposal to acquire remaining 80.4% stake in Monash IVF Group Limited (ASX:MVF) for approximately AUD 250 million on November 24, 2025. A cash consideration valued at AUD 0.8 per share and will be paid by WHSP Holdings Limited and Genesis Capital. As part of consideration, an AUD 0.85 million is paid towards Performance Rights and AUD 250.61 million is paid towards common equity of Monash IVF Group Limited. The transaction is contingent upon exclusive due diligence, customary transaction documentation negotiation and execution, unanimous Monash IVF Group Limited recommendation, and final internal approval from WHSP Holdings Limited and Genesis Capital for a binding proposal and transaction documentation. The deal has been rejected by the board of Monash IVF Group Limited due to the Offer Price being at a substantial discount to comparable IVF transactions in the Australian market, the Proposal remaining conditional and requiring further due diligence and access to senior management and key employees, and uncertainty regarding the financing arrangements proposed by the Consortium. As of April 13, 2026 Monash IVF Group Limited has now received a revised, unsolicited, conditional and non-binding indicative proposal from WHSP Holdings Limited (ASX:SOL) and Genesis Capital. The indicative cash price offered to shareholders under the Proposal is AUD 0.90 per share. As part part of consideration AUD 281.93 million is paid towards common equity and AUD 1.68 million is paid towards performance rights. It should be noted that there is no certainty that the discussions with the Consortium will result in any transaction. If there are material developments in the future, Monash IVF will inform shareholders as required under its continuous disclosure obligations. The deal is conditional upon exclusive due diligence, including a 4-week period of exclusivity with no fiduciary exceptions, negotiation and execution of transaction documentation on 'customary terms', including a no material adverse change condition, unanimous recommendation of the Monash IVF Board of the Proposal and final internal approval from the relevant Consortium Members for a final binding proposal and entry into transaction documentation. Macquarie Capital Limited acted as financial advisor for Monash IVF Group Limited. Clayton Utz acted as legal advisor for Monash IVF Group Limited. WHSP Holdings Limited (ASX:SOL) and Genesis Capital cancelled the acquisition of 80.4% stake in Monash IVF Group Limited (ASX:MVF) on April 20, 2026. Monash IVF Group Limited announced that its Board has unanimously rejected the revised non-binding proposal from Genesis Capital and Soul Patts to acquire the company for AUD 0.90 per share, stating the offer undervalues the company but remains open to a higher bid. This captures the rejection, the offer price, the reason, and the fact that the door remains open for a higher offer, which are the key takeaways for our tracking purposes.

Australian (ASX) Healthcare Services Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

PGC: Higher Margin Outlook Will Support Stronger Future Earnings Profile

Sigma Healthcare Limited to Report Fiscal Year 2026 Results on Aug 27, 2026

SHL: Higher Discount Rate Will Pressure Future Earnings Multiple

New minor risk - Share price stability

Now 20% undervalued

Independent Non-Executive Chairman recently bought AU$101k worth of stock

HLS: Potential Agilex Sale And Revised Assumptions Will Shape Future Outlook

New minor risk - Share price stability

Australian Clinical Labs Limited Announces Appointment of Dr Amandeep Hansra as Non-Executive Director, Effective July 1, 2026

New minor risk - Insider selling

WHSP Holdings Limited (ASX:SOL) and Genesis Capital cancelled the acquisition of 80.4% stake in Monash IVF Group Limited (ASX:MVF).

Rhythm Biosciences Limited has completed a Follow-on Equity Offering in the amount of AUD 3.766801 million.