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Australian (ASX) Healthtech Industry Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies18
  • 7D7.3%
  • 3M-37.7%
  • 1Y-32.6%
  • YTD-41.2%

The Healthtech industry is up 7.3% in the last week, with Pro Medicus up 6.8%. Meanwhile, PainChek actually underperformed within the industry, shrinking 6.3% in the last week. However, the industry is down 33% over the past year. Earnings are forecast to grow by 7.3% annually.

Industry Valuation and Performance

Has the Australian Healthtech Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026AU$15.0bAU$611.1mAU$93.4m30.2x160.5x24.5x
Tue, 10 Mar 2026AU$15.3bAU$611.6mAU$93.5m29.9x163.9x25.1x
Thu, 05 Feb 2026AU$21.1bAU$460.5mAU$3.2m69.4x6591x45.7x
Sat, 03 Jan 2026AU$27.8bAU$465.3mAU$1.9m65.3x14518x59.8x
Mon, 01 Dec 2025AU$30.6bAU$467.2mAU$1.5m65.1x20388.3x65.4x
Wed, 29 Oct 2025AU$32.0bAU$467.2mAU$1.4m63.3x22451.8x68.5x
Fri, 26 Sep 2025AU$34.7bAU$467.0mAU$1.4m65.5x24880.5x74.4x
Sun, 24 Aug 2025AU$33.6bAU$558.1m-AU$31,449,523.72152.6x-1068.6x60.2x
Tue, 22 Jul 2025AU$35.0bAU$526.2m-AU$41,800,660.32184.2x-837.3x66.5x
Thu, 19 Jun 2025AU$30.2bAU$526.4m-AU$41,675,756.99157.4x-724x57.3x
Sat, 17 May 2025AU$29.9bAU$526.9m-AU$41,505,393.66155.5x-719.3x56.7x
Mon, 14 Apr 2025AU$22.3bAU$529.0m-AU$42,391,312.34116.8x-525x42.1x
Wed, 12 Mar 2025AU$25.2bAU$528.4m-AU$41,639,110.88132x-605.5x47.7x
Fri, 07 Feb 2025AU$31.4bAU$586.3m-AU$63,900,574.14121.9x-492.1x53.6x
Sun, 05 Jan 2025AU$27.7bAU$587.6m-AU$64,188,804.05156.6x-432.3x47.2x
Tue, 03 Dec 2024AU$27.3bAU$582.3m-AU$62,936,513.97201.8x-433.4x46.8x
Thu, 31 Oct 2024AU$21.9bAU$582.5m-AU$63,139,686.81243.6x-347.5x37.7x
Sat, 28 Sep 2024AU$19.6bAU$578.2m-AU$62,138,303.06219.7x-314.9x33.8x
Mon, 26 Aug 2024AU$17.2bAU$552.5m-AU$67,778,692.81107.1x-254.4x31.2x
Wed, 24 Jul 2024AU$15.5bAU$535.1m-AU$82,230,096.74112.8x-188.6x29x
Fri, 21 Jun 2024AU$15.6bAU$532.7m-AU$81,517,015.86113.7x-191.5x29.3x
Sun, 19 May 2024AU$13.9bAU$567.2m-AU$89,727,134.03100.9x-154.9x24.5x
Tue, 16 Apr 2024AU$12.8bAU$571.2m-AU$103,464,554.6493.1x-123.4x22.4x
Thu, 14 Mar 2024AU$12.2bAU$571.0m-AU$102,990,816.9387x-118.4x21.3x
Sat, 10 Feb 2024AU$12.8bAU$527.6m-AU$134,517,049.97110.1x-95.2x24.3x
Mon, 08 Jan 2024AU$11.3bAU$527.3m-AU$139,729,386.00100.7x-81.2x21.5x
Wed, 06 Dec 2023AU$11.0bAU$529.1m-AU$107,089,199.0098.6x-103.2x20.9x
Fri, 03 Nov 2023AU$9.9bAU$525.9m-AU$107,203,875.0092.1x-92.2x18.8x
Sun, 01 Oct 2023AU$10.4bAU$527.6m-AU$112,059,669.0095.4x-92.6x19.7x
Tue, 29 Aug 2023AU$9.3bAU$524.0m-AU$147,064,545.0085.8x-63.6x17.8x
Thu, 27 Jul 2023AU$8.7bAU$499.3m-AU$152,969,272.0091.2x-57.1x17.5x
Sat, 24 Jun 2023AU$8.5bAU$499.4m-AU$152,505,285.0095.5x-55.7x17x
Mon, 22 May 2023AU$8.0bAU$495.2m-AU$145,783,044.0088.6x-54.7x16.1x
Wed, 19 Apr 2023AU$8.1bAU$493.0m-AU$145,026,765.0087.4x-55.8x16.4x
Price to Earnings Ratio

-55.8x


Total Market Cap: AU$8.1bTotal Earnings: -AU$145,026,765.00Total Revenue: AU$493.0mTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthtech Industry Price to Earnings3Y Average 2450.5x202420252026
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 industry is trading at a PE ratio of 160x which is lower than its 3-year average PE of 2kx.
  • The 3-year average PS ratio of 37.1x is higher than the industry's current PS ratio of 24.5x.
Past Earnings Growth
  • Total earnings for the Healthcare Services industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 7.4% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Healthcare industry?

AU Market4.32%
Healthcare1.46%
Healthtech7.26%
Healthtech7.26%
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
PME Pro MedicusAU$126.926.8%
+AU$844.1m		-37.4%PE56.5x
4DX 4DMedicalAU$6.8020.6%
+AU$683.7m		2,566.7%PS689.7x
AYA ArtryaAU$3.9024.6%
+AU$121.7m		555.5%PS21259.6x
CGS CogstateAU$2.308.0%
+AU$29.0m		81.1%PE25.8x
ONE Oneview HealthcareAU$0.2011.4%
+AU$16.6m		-26.4%PS8.1x

Latest News

TRI
AU$0.02
TrivarX
7D
11.1%
1Y
66.7%
PME
AU$126.92
Pro Medicus
7D
6.8%
1Y
-37.4%
CGS
AU$2.30
Cogstate
7D
8.0%
1Y
81.1%

CGS: Record Contracted Revenue Will Support Future Upside In Earnings

Analysts have kept their A$3.03 price target for Cogstate broadly unchanged, reflecting only small tweaks to assumptions such as discount rate, long term profit margin and future P/E, and indicating that their core view on the stock remains steady. What's in the News Management issued new revenue guidance for the second half of fiscal 2026, pointing to revenue growth from the first half of 2026 based on a record contracted revenue position (Corporate guidance).
M7T
AU$0.31
Mach7 Technologies
7D
-1.6%
1Y
0.8%
ONE
AU$0.20
Oneview Healthcare
7D
11.4%
1Y
-26.4%

ONE: New Digital Care Platform And Equity Raise Will Support Future Upside

The analyst price target for Oneview Healthcare has been revised to reflect updated fair value assumptions, with the new A$ price level shaped by slightly adjusted discount rates, a modest change in expected profit margins and a higher assumed future P/E multiple, as analysts reassess the balance between growth potential and profitability expectations. What's in the News Filed a follow-on equity offering of A$19 million in Chess Depository Interests, covering 63,157,895 securities at A$0.19 each, with a A$0.0095 discount per security, and described as a subsequent direct listing (Key Developments).
4DX
AU$6.80
4DMedical
7D
20.6%
1Y
2,566.7%
ENL
AU$0.011
Enlitic
7D
22.2%
1Y
-78.4%
ICR
AU$0.023
Intelicare Holdings
7D
-8.0%
1Y
228.6%
PCK
AU$0.15
PainChek
7D
-6.3%
1Y
-54.5%
HIQ
AU$0.015
HITIQ
7D
15.4%
1Y
-50.0%
AHE
AU$0.018
Adheris Health
7D
-5.3%
1Y
-80.2%
AYA
AU$3.90
Artrya
7D
24.6%
1Y
555.5%
TD1
AU$0.043
TALi Digital
7D
-2.3%
1Y
-57.0%