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Australian (ASX) Medical Equipment Industry Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies30
  • 7D-12.8%
  • 3M-20.6%
  • 1Y-21.8%
  • YTD-18.1%

Over the last 7 days, the Medical Equipment industry has dropped 13%, driven by Cochlear declining 20%. On the other hand Imricor Medical Systems is actually up 7.0%. Overall the industry is down 22% in 12 months. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

Has the Australian Medical Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Feb 2026AU$22.5bAU$6.1bAU$139.5m37.4x161.7x3.7x
Mon, 12 Jan 2026AU$27.1bAU$6.2bAU$177.7m36.1x152.3x4.4x
Wed, 10 Dec 2025AU$27.9bAU$6.2bAU$133.2m35.3x209.7x4.5x
Fri, 07 Nov 2025AU$28.8bAU$6.3bAU$161.1m33.2x178.6x4.6x
Sun, 05 Oct 2025AU$28.6bAU$6.3bAU$167.2m38x170.9x4.6x
Tue, 02 Sep 2025AU$29.6bAU$6.3bAU$163.5m34.5x180.8x4.7x
Thu, 31 Jul 2025AU$29.5bAU$6.0bAU$197.8m40.7x149.3x4.9x
Sat, 28 Jun 2025AU$27.8bAU$6.0bAU$198.0m38.9x140.1x4.6x
Mon, 26 May 2025AU$26.3bAU$6.0bAU$197.8m37x133.1x4.4x
Wed, 23 Apr 2025AU$25.1bAU$6.1bAU$208.4m34.8x120.4x4.1x
Fri, 21 Mar 2025AU$27.5bAU$6.1bAU$204.5m37.7x134.5x4.5x
Sun, 16 Feb 2025AU$27.5bAU$6.0bAU$201.7m46.4x136.4x4.6x
Tue, 14 Jan 2025AU$29.5bAU$3.1bAU$4.2m66.1x7081.2x9.7x
Thu, 12 Dec 2024AU$28.5bAU$5.6bAU$157.0m53.8x181.5x5.1x
Sat, 09 Nov 2024AU$28.4bAU$5.5bAU$160.7m53.7x176.8x5.2x
Mon, 07 Oct 2024AU$28.7bAU$5.4bAU$161.1m53.7x178x5.3x
Wed, 04 Sep 2024AU$28.9bAU$5.5bAU$158.3m55.2x182.6x5.3x
Fri, 02 Aug 2024AU$31.6bAU$5.4bAU$169.6m45.5x186.5x5.9x
Sun, 30 Jun 2024AU$30.4bAU$5.3bAU$168.5m48.2x180.4x5.7x
Tue, 28 May 2024AU$29.3bAU$5.3bAU$168.6m34.3x174x5.5x
Thu, 25 Apr 2024AU$29.0bAU$5.4bAU$169.5m37.4x171.2x5.4x
Sat, 23 Mar 2024AU$29.1bAU$5.4bAU$169.4m40.3x172x5.4x
Mon, 19 Feb 2024AU$29.0bAU$5.1bAU$280.2m26.4x103.5x5.7x
Wed, 17 Jan 2024AU$25.8bAU$5.1bAU$245.1m24.6x105.4x5x
Fri, 15 Dec 2023AU$26.9bAU$5.1bAU$242.5m25.4x110.8x5.3x
Sun, 12 Nov 2023AU$23.5bAU$5.2bAU$250.7m24.5x93.8x4.5x
Tue, 10 Oct 2023AU$23.6bAU$5.2bAU$248.4m23.2x94.9x4.5x
Thu, 07 Sep 2023AU$24.7bAU$5.2bAU$247.4m22.5x99.9x4.8x
Sat, 05 Aug 2023AU$23.3bAU$5.1bAU$72.1m22.5x323.5x4.6x
Mon, 03 Jul 2023AU$23.1bAU$5.0bAU$65.1m22.5x354.2x4.6x
Wed, 31 May 2023AU$24.3bAU$5.1bAU$65.9m17.9x368x4.8x
Fri, 28 Apr 2023AU$24.8bAU$5.0bAU$64.6m17.9x383.6x4.9x
Sun, 26 Mar 2023AU$22.6bAU$5.0bAU$64.1m16.2x352.9x4.5x
Tue, 21 Feb 2023AU$23.2bAU$4.8bAU$105.1m20.1x220.2x4.8x
Price to Earnings Ratio

220.2x


Total Market Cap: AU$23.2bTotal Earnings: AU$105.1mTotal Revenue: AU$4.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Medical Equipment Industry Price to Earnings3Y Average 203.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Medical Equipment 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 162x which is lower than its 3-year average PE of 203x.
  • The 3-year average PS ratio of 4.9x is higher than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 9.9% per year over the last three years.
  • Revenues for these companies have grown 7.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

AU Market2.05%
Healthcare-11.28%
Medical Equipment-12.81%
Medical Supplies-1.49%
Medical Equipment-16.69%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 44.1x.
    • Analysts are expecting annual earnings growth of 21.4%, which is lower than the prior year's growth of 46.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 21% over the next 5 years.
  • However this is lower than its past earnings growth rate of 46% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 18% 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
IMR Imricor Medical SystemsAU$2.007.0%
+AU$41.7m		37.9%PS604.5x
AVR Anteris Technologies GlobalAU$7.775.0%
+AU$36.0m		-39.0%PS249x
EBR EBR SystemsAU$0.8110.1%
+AU$33.8m		-50.5%PS379.4x
SOM SomnoMedAU$0.7016.5%
+AU$21.8m		14.6%PS1.4x
LDX Lumos Diagnostics HoldingsAU$0.2610.6%
+AU$19.8m		781.4%PS11.7x

Latest News

SOM
AU$0.70
SomnoMed
7D
16.5%
1Y
14.6%
COH
AU$199.22
Cochlear
7D
-20.4%
1Y
-24.2%
EBR
AU$0.81
EBR Systems
7D
10.1%
1Y
-50.5%
SDI
AU$0.90
SDI
7D
-3.2%
1Y
-1.6%
ANN
AU$31.28
Ansell
7D
-0.9%
1Y
-13.3%

ANN: Chemical Protection Focus And Sustainability Credentials Will Support Future Pricing Power

Analysts have nudged their fair value estimate for Ansell slightly lower to A$36.28 from A$36.44. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations.
NAN
AU$3.57
Nanosonics
7D
-6.8%
1Y
4.4%

NAN: RBC Upgrade And Refined Assumptions Will Support Upside Potential

Analysts have modestly adjusted their price targets on Nanosonics to A$5.43, reflecting small tweaks to their assumptions on discount rate, revenue growth, profit margins and future P/E, supported by recent research that cites a more constructive stance on the stock. Analyst Commentary Recent research points to a more constructive tone around Nanosonics, with bullish analysts highlighting that the refreshed price targets around A$5.43 are consistent with their updated view on risk, earnings quality and execution.
CYC
AU$0.83
Cyclopharm
7D
-15.7%
1Y
-56.3%
IMR
AU$2.00
Imricor Medical Systems
7D
7.0%
1Y
37.9%

MRI Guided Cardiac Ablation Adoption Will Transform Long Term Prospects For This Undervalued Player

Catalysts About Imricor Medical Systems Imricor Medical Systems develops MRI compatible cardiac ablation systems intended to enable electrophysiology procedures inside the MRI suite. What are the underlying business or industry changes driving this perspective?
LDX
AU$0.26
Lumos Diagnostics Holdings
7D
10.6%
1Y
781.4%

Lumos Diagnostics Holdings Limited (ASX:LDX) Stocks Pounded By 27% But Not Lagging Industry On Growth Or Pricing

Jan 27
Lumos Diagnostics Holdings Limited (ASX:LDX) Stocks Pounded By 27% But Not Lagging Industry On Growth Or Pricing
AVR
AU$7.77
Anteris Technologies Global
7D
5.0%
1Y
-39.0%
VHL
AU$0.027
Vitasora Health
7D
35.0%
1Y
-53.4%
SLD
AU$1.04
Saluda Medical
7D
-8.0%
1Y
n/a
MX1
AU$0.081
Micro-X
7D
-5.8%
1Y
12.5%
EPI
AU$0.84
Epiminder
7D
9.1%
1Y
n/a
AHC
AU$0.32
Austco Healthcare
7D
-10.0%
1Y
-4.5%
EMV
AU$1.80
EMVision Medical Devices
7D
2.3%
1Y
-13.5%