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Australian (ASX) Healthcare Services Industry Analysis

UpdatedMay 20, 2026
DataAggregated Company Financials
Companies7
  • 7D-3.3%
  • 3M-15.0%
  • 1Y-32.1%
  • YTDn/a

Over the last 7 days, the Healthcare Services industry has dropped 4.2%, driven by a pullback from Sonic Healthcare of 2.5%. On the other hand INOVIQ is actually up 6.3%. Overall the industry is down 32% in 12 months. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 20 May 2026AU$10.6bAU$13.3b-AU$3,128,789.0016.9x-3403.2x0.8x
Fri, 17 Apr 2026AU$12.0bAU$13.3b-AU$3,128,789.0018.8x-3819.4x0.9x
Sun, 15 Mar 2026AU$12.3bAU$13.3b-AU$3,128,789.0019.4x-3938.2x0.9x
Tue, 10 Feb 2026AU$13.2bAU$12.6b-AU$37,169,122.00108.3x-356x1.1x
Thu, 08 Jan 2026AU$13.4bAU$12.6b-AU$37,169,122.00107.4x-359.5x1.1x
Sat, 06 Dec 2025AU$13.9bAU$12.6b-AU$37,169,122.00106.8x-373.1x1.1x
Mon, 03 Nov 2025AU$12.9bAU$12.6b-AU$37,169,122.00105.2x-346x1x
Wed, 01 Oct 2025AU$12.9bAU$12.6b-AU$37,169,122.0097.6x-347.1x1x
Fri, 29 Aug 2025AU$14.4bAU$12.6b-AU$35,515,886.0098.3x-404.9x1.1x
Sun, 27 Jul 2025AU$16.2bAU$12.6bAU$526.5m103.1x30.9x1.3x
Tue, 24 Jun 2025AU$14.5bAU$12.6bAU$526.5m85.7x27.6x1.2x
Thu, 22 May 2025AU$15.4bAU$12.6bAU$526.5m92.7x29.2x1.2x
Sat, 19 Apr 2025AU$14.8bAU$12.6bAU$526.5m85x28.2x1.2x
Mon, 17 Mar 2025AU$14.7bAU$12.6bAU$526.5m83.3x27.9x1.2x
Wed, 12 Feb 2025AU$16.8bAU$12.1b-AU$190,089,596.0026.8x-88.3x1.4x
Fri, 10 Jan 2025AU$16.2bAU$12.1b-AU$189,198,596.0020.4x-85.6x1.3x
Sun, 08 Dec 2024AU$16.8bAU$12.4b-AU$204,051,596.0020.6x-82.2x1.4x
Tue, 05 Nov 2024AU$16.0bAU$12.4b-AU$204,051,596.0022x-78.2x1.3x
Thu, 03 Oct 2024AU$16.4bAU$12.4b-AU$203,781,596.0021x-80.3x1.3x
Sat, 31 Aug 2024AU$16.3bAU$12.3b-AU$206,715,421.0025.1x-78.9x1.3x
Mon, 29 Jul 2024AU$15.8bAU$11.7b-AU$546,405,128.0030x-29x1.4x
Wed, 26 Jun 2024AU$15.6bAU$11.7b-AU$546,405,128.0029.6x-28.6x1.3x
Fri, 24 May 2024AU$14.7bAU$11.7b-AU$546,405,128.0026.5x-26.9x1.3x
Sun, 21 Apr 2024AU$15.0bAU$11.7b-AU$546,405,128.0027.9x-27.5x1.3x
Tue, 19 Mar 2024AU$15.7bAU$11.7b-AU$546,405,128.0029.8x-28.7x1.3x
Thu, 15 Feb 2024AU$17.8bAU$11.4bAU$326.9m20.7x54.3x1.6x
Sat, 13 Jan 2024AU$18.1bAU$11.8bAU$325.1m23.2x55.6x1.5x
Mon, 11 Dec 2023AU$17.6bAU$11.8bAU$325.1m21.5x54.1x1.5x
Wed, 08 Nov 2023AU$17.1bAU$11.8bAU$325.1m20.8x52.7x1.5x
Fri, 06 Oct 2023AU$17.7bAU$11.8bAU$325.1m25.1x54.4x1.5x
Sun, 03 Sep 2023AU$19.1bAU$11.8bAU$325.9m25.8x58.6x1.6x
Tue, 01 Aug 2023AU$20.5bAU$12.5bAU$1.1b24.2x18.8x1.6x
Thu, 29 Jun 2023AU$20.9bAU$12.5bAU$1.1b24.4x19.1x1.7x
Sat, 27 May 2023AU$20.5bAU$12.5bAU$1.1b25.1x18.7x1.6x
Price to Earnings Ratio

18.7x


Total Market Cap: AU$20.5bTotal Earnings: AU$1.1bTotal Revenue: AU$12.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthcare Services Industry Price to Earnings3Y Average -327.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Healthcare Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 0.80x.
Past Earnings Growth
  • Total earnings for the Healthcare Services industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 2.2% 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 Comparison

How does Australian Healthcare Services compare with similar industries?

AU Market-0.86%
Healthcare-0.062%
Healthcare Services-0.28%
Healthcare Services-3.28%
Healthcare Facilities1.90%
Healthcare Distributors0.025%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
ACL Australian Clinical LabsAU$1.933.2%
+AU$11.2m		-37.5%PE13.6x
IIQ INOVIQAU$0.331.5%
+AU$703.9k		-10.8%PS22.1x

Latest News

HLS
AU$0.34
Healius
7D
-8.0%
1Y
-66.8%
MAP
AU$0.077
Microba Life Sciences
7D
-6.1%
1Y
-48.7%
SHL
AU$18.44
Sonic Healthcare
7D
-2.4%
1Y
-31.3%
Narrative Update • May 12

SHL: Upcoming A$0.45 Dividend Will Support Future Re Rating

Analysts have nudged their price target for Sonic Healthcare slightly lower to about A$24.98 from around A$25.26. The revision reflects updated assumptions for a higher discount rate, a modestly different revenue growth outlook, a steady profit margin profile and a slightly higher future P/E multiple.
IDX
AU$2.04
Integral Diagnostics
7D
-6.8%
1Y
-17.1%
Narrative Update • May 11

IDX: New Leadership And New Clinics Will Support Future Upside

Analysts have trimmed their price target for Integral Diagnostics to A$3.11 from A$3.12 as they factor in a slightly higher discount rate and marginally softer profit margin expectations, while keeping revenue growth assumptions and future P/E largely unchanged. What's in the News New Managing Director and CEO Jason Martinez is scheduled to commence on 6 August 2026, with current Managing Director and CEO Dr Ian Kadish staying on until then to support a smooth leadership transition (Key Developments).
ACL
AU$1.93
Australian Clinical Labs
7D
3.2%
1Y
-37.5%
Narrative Update • May 05

ACL: Index Inclusion And Franked Dividend Will Support Undervalued Share Price

Analysts have trimmed their price target for Australian Clinical Labs slightly to A$3.48 from A$3.50, reflecting updated assumptions around revenue growth, profit margins, the discount rate and future P/E multiples. What's in the News Australian Clinical Labs has been added to the S&P/ASX Emerging Companies Index, placing the stock in a broader benchmark followed by many Australian equity investors (Key Developments).
IIQ
AU$0.33
INOVIQ
7D
1.5%
1Y
-10.8%