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Australian (ASX) Healthtech Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies18
  • 7D-5.7%
  • 3M50.8%
  • 1Y-34.3%
  • YTD-11.2%

Over the last 7 days, the Healthtech industry has dropped 5.7%, driven by a pullback from Pro Medicus of 6.0%. In contrast, Cogstate has gained 5.8%. Overall the industry is down 34% in 12 months. Looking forward, earnings are forecast to grow by 5.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026AU$22.7bAU$613.3mAU$93.6m32.9x242.3x37x
Tue, 09 Jun 2026AU$19.2bAU$610.8mAU$93.6m33.1x204.8x31.4x
Thu, 07 May 2026AU$15.7bAU$607.2mAU$93.9m31.4x166.6x25.8x
Sat, 04 Apr 2026AU$14.0bAU$614.0mAU$93.1m29x150.1x22.8x
Mon, 02 Mar 2026AU$15.3bAU$609.0mAU$98.7m36.4x155.3x25.2x
Wed, 28 Jan 2026AU$23.9bAU$461.9mAU$2.7m73.2x9001.9x51.8x
Fri, 26 Dec 2025AU$27.6bAU$465.2mAU$1.8m67.3x14926.7x59.3x
Sun, 23 Nov 2025AU$28.7bAU$468.6mAU$1.2m62.3x23361.3x61.2x
Tue, 21 Oct 2025AU$32.4bAU$468.3mAU$1.1m63.7x28182.1x69.2x
Thu, 18 Sep 2025AU$33.1bAU$465.8mAU$1.6m72.1x20711.3x71.1x
Sat, 16 Aug 2025AU$34.3bAU$557.7m-AU$29,403,508.08154.9x-1166.7x61.5x
Mon, 14 Jul 2025AU$34.5bAU$525.4m-AU$41,571,151.51181.2x-830x65.7x
Wed, 11 Jun 2025AU$30.9bAU$525.9m-AU$41,429,171.37160.3x-745.4x58.7x
Fri, 09 May 2025AU$26.9bAU$527.1m-AU$41,669,062.23140.5x-645.2x51x
Sun, 06 Apr 2025AU$21.0bAU$532.3m-AU$43,044,400.69110.7x-486.8x39.4x
Tue, 04 Mar 2025AU$28.7bAU$528.7m-AU$41,194,448.42149.1x-696.3x54.3x
Thu, 30 Jan 2025AU$29.4bAU$587.4m-AU$64,267,187.17139.3x-457.4x50x
Sat, 28 Dec 2024AU$28.2bAU$588.6m-AU$64,557,098.43160.1x-436.4x47.9x
Mon, 25 Nov 2024AU$24.4bAU$581.1m-AU$62,581,893.03201.8x-389.8x42x
Wed, 23 Oct 2024AU$20.9bAU$579.9m-AU$62,468,071.64236.7x-334x36x
Fri, 20 Sep 2024AU$19.2bAU$578.6m-AU$62,118,803.25216.3x-308.4x33.1x
Sun, 18 Aug 2024AU$17.1bAU$554.0m-AU$69,138,224.93107.4x-248x31x
Tue, 16 Jul 2024AU$15.5bAU$532.1m-AU$81,365,463.12112.6x-190.2x29.1x
Thu, 13 Jun 2024AU$14.8bAU$534.4m-AU$82,022,734.14109.2x-180.2x27.7x
Sat, 11 May 2024AU$13.9bAU$567.8m-AU$89,923,772.6999.3x-154.5x24.5x
Mon, 08 Apr 2024AU$12.7bAU$569.9m-AU$103,188,576.1691.9x-122.8x22.2x
Wed, 06 Mar 2024AU$12.2bAU$574.6m-AU$103,177,772.4088.2x-118.7x21.3x
Fri, 02 Feb 2024AU$12.3bAU$531.2m-AU$141,599,438.00106.1x-86.7x23.1x
Sun, 31 Dec 2023AU$11.9bAU$525.5m-AU$138,846,887.00106.1x-85.7x22.6x
Tue, 28 Nov 2023AU$10.8bAU$528.0m-AU$106,953,363.0098.4x-101.1x20.5x
Thu, 26 Oct 2023AU$9.6bAU$527.7m-AU$107,587,190.0087.6x-89.5x18.2x
Sat, 23 Sep 2023AU$9.1bAU$527.5m-AU$112,594,773.0085.2x-81.2x17.3x
Mon, 21 Aug 2023AU$9.1bAU$523.9m-AU$145,376,350.0084.5x-62.5x17.4x
Wed, 19 Jul 2023AU$8.6bAU$499.4m-AU$153,466,415.0093.1x-56.3x17.3x
Price to Earnings Ratio

-56.3x


Total Market Cap: AU$8.6bTotal Earnings: -AU$153,466,415.00Total Revenue: AU$499.4mTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Healthtech Industry Price to Earnings3Y Average 2471x202420252026
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 242x which is lower than its 3-year average PE of 2kx.
  • The industry is trading close to its 3-year average PS ratio of 38.1x.
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 7.1% 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 Market-0.42%
Healthcare-0.86%
Healthtech-5.66%
Healthtech-5.66%
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
CGS CogstateAU$2.905.8%
+AU$27.2m		74.7%PE31.8x
ONE Oneview HealthcareAU$0.179.7%
+AU$12.6m		-32.0%PS7.2x
M7T Mach7 TechnologiesAU$0.315.1%
+AU$3.5m		-12.7%PS2.5x
PCK PainChekAU$0.1215.0%
+AU$3.1m		-72.0%PS7x
AHE Adheris HealthAU$0.01721.4%
+AU$1.9m		-69.6%PS0.3x

Latest News

M7T
AU$0.31
Mach7 Technologies
7D
5.1%
1Y
-12.7%
Narrative Update • Jul 10

M7T: Future Imaging Expo Presence Will Support Bullish Long Term Outlook

Analysts have revised their fair value estimate for Mach7 Technologies to A$0.35 from A$0.69, reflecting updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Mach7 Technologies plans to participate in the SIIM26 Annual Meeting + InformaticsTECH Expo in June 2026, where it will showcase its enterprise imaging solutions and Mach7 eUnity viewer, including workflows across areas such as digital pathology.
PME
AU$197.07
Pro Medicus
7D
-6.0%
1Y
-37.9%
Narrative Update • Jul 10

PME: Elevated Market Share Expectations Will Pressure Future Share Returns

Pro Medicus' analyst price target has been revised to A$192.60 from A$147.00, with analysts pointing to updated assumptions around long term market share in the US PACS segment and a reassessment of how much growth is already reflected in the current share price. What's in the News for Pro Medicus Pro Medicus has drawn renewed attention after a 33.15% share price decline over the past year, with recent commentary highlighting a valuation reset as a key factor in shifting sentiment.
CGS
AU$2.90
Cogstate
7D
5.8%
1Y
74.7%
Narrative Update • Jul 08

CGS: Higher Revenue And Margin Assumptions Will Support Future Upside

The analyst price target for Cogstate has been revised from A$3.18 to A$3.54. Analysts point to updated assumptions for revenue growth, profit margins and future P/E as the key drivers of this recalibration.
ENL
AU$0.008
Enlitic
7D
33.3%
1Y
-78.9%
AYA
AU$5.77
Artrya
7D
-8.0%
1Y
479.9%
4DX
AU$3.96
4DMedical
7D
-6.8%
1Y
1,585.1%
ALC
AU$0.098
Alcidion Group
7D
-2.0%
1Y
-10.9%
BMT
AU$0.13
Beamtree Holdings
7D
-13.3%
1Y
-51.9%
Narrative Update • Jun 26

BMT: Saudi Healthcare Contract Will Underpin Future Earnings Rebound Potential

Analysts have revised their price target for Beamtree Holdings to A$0.30 from A$0.60, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E multiples in their valuation work. What's in the News Beamtree Holdings secured an A$2 million contract with Fakeeh Care Group (Dr Soliman Fakeeh Hospitals) to be delivered over a 12 month period commencing May 2026.
ONE
AU$0.17
Oneview Healthcare
7D
9.7%
1Y
-32.0%
Narrative Update • Jun 23

ONE: Connected Care Expansion And Equity Raise Will Support Higher Earnings Multiple

Analysts have revised their price target for Oneview Healthcare to A$0.45, reflecting updated assumptions for the discount rate and future P/E while keeping revenue growth and profit margin expectations steady. What's in the News Oneview Healthcare launched Bedside Hub, a bedside TV solution built on its connected care platform to host Epic MyChart Bedside TV on healthcare grade hardware with cloud based device management.
AHE
AU$0.017
Adheris Health
7D
21.4%
1Y
-69.6%
BB1
AU$0.64
BlinkLab
7D
-2.3%
1Y
25.7%
DOC
AU$0.12
Doctor Care Anywhere Group
7D
2.1%
1Y
6.5%
TRI
AU$0.019
TrivarX
7D
-17.4%
1Y
171.4%
Analysis Article • May 06

We're Keeping An Eye On TrivarX's (ASX:TRI) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
IME
AU$0.28
ImExHS
7D
-17.4%
1Y
9.6%
PCK
AU$0.12
PainChek
7D
15.0%
1Y
-72.0%
GLH
AU$0.065
Global Health
7D
8.3%
1Y
-16.7%