Narrative Update • Sep 17
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Australian (ASX) Medical Equipment Industry Analysis
UpdatedSep 19, 2026
DataAggregated Company Financials
Companies30
- 7D0.8%
- 3M15.0%
- 1Y-38.4%
- YTD-33.9%
In the last week, the Medical Equipment industry is flat overall, with PolyNovo standing out by going down 4.0%. As for the longer term, the industry has declined 38% in the last year. Earnings are forecast to grow by 18% annually.
Industry Valuation and Performance
Has the Australian Medical Equipment Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 20 Sep 2026 | AU$18.3b | AU$6.3b | -AU$192,472,878.94 | 48.9x | -95.3x | 2.9x |
| Tue, 18 Aug 2026 | AU$17.5b | AU$6.1b | -AU$104,196,868.93 | 29.2x | -167.5x | 2.9x |
| Thu, 16 Jul 2026 | AU$16.3b | AU$6.1b | -AU$85,220,327.78 | 27.2x | -191.6x | 2.7x |
| Sat, 13 Jun 2026 | AU$16.0b | AU$6.2b | -AU$206,398,030.47 | 21.2x | -77.6x | 2.6x |
| Mon, 11 May 2026 | AU$14.4b | AU$6.1b | -AU$53,915,407.47 | 19.8x | -267.5x | 2.3x |
| Wed, 08 Apr 2026 | AU$19.8b | AU$6.3b | -AU$66,600,375.17 | 22.3x | -297x | 3.2x |
| Fri, 06 Mar 2026 | AU$21.1b | AU$6.2b | -AU$73,227,697.93 | 24.8x | -287.7x | 3.4x |
| Sun, 01 Feb 2026 | AU$27.6b | AU$6.1b | AU$181.8m | 36.1x | 151.9x | 4.5x |
| Tue, 30 Dec 2025 | AU$27.0b | AU$6.2b | AU$177.8m | 38.7x | 151.9x | 4.4x |
| Thu, 27 Nov 2025 | AU$28.5b | AU$6.3b | AU$174.5m | 37.7x | 163.3x | 4.5x |
| Sat, 25 Oct 2025 | AU$29.2b | AU$6.3b | AU$161.0m | 31x | 181.1x | 4.6x |
| Mon, 22 Sep 2025 | AU$29.3b | AU$6.3b | AU$167.0m | 36.9x | 175.3x | 4.7x |
| Wed, 20 Aug 2025 | AU$28.3b | AU$6.1b | AU$209.3m | 38.3x | 135.3x | 4.7x |
| Fri, 18 Jul 2025 | AU$28.6b | AU$6.0b | AU$197.6m | 39.8x | 145x | 4.7x |
| Sun, 15 Jun 2025 | AU$26.4b | AU$6.0b | AU$197.8m | 37x | 133.5x | 4.4x |
| Tue, 13 May 2025 | AU$26.3b | AU$6.1b | AU$208.3m | 36.6x | 126.4x | 4.3x |
| Thu, 10 Apr 2025 | AU$24.4b | AU$6.2b | AU$206.6m | 33.1x | 117.9x | 3.9x |
| Sat, 08 Mar 2025 | AU$27.0b | AU$6.1b | AU$213.0m | 37.5x | 126.7x | 4.4x |
| Mon, 03 Feb 2025 | AU$31.2b | AU$5.7b | AU$129.8m | 58.6x | 240.1x | 5.5x |
| Wed, 01 Jan 2025 | AU$28.5b | AU$5.7b | AU$129.8m | 53.2x | 219.3x | 5x |
| Fri, 29 Nov 2024 | AU$29.5b | AU$5.5b | AU$156.7m | 56.4x | 188.3x | 5.3x |
| Sun, 27 Oct 2024 | AU$27.8b | AU$5.5b | AU$161.6m | 52.1x | 171.8x | 5x |
| Tue, 24 Sep 2024 | AU$28.0b | AU$5.4b | AU$159.8m | 51.9x | 175x | 5.2x |
| Thu, 22 Aug 2024 | AU$28.9b | AU$5.4b | AU$128.6m | 45.5x | 224.5x | 5.4x |
| Sat, 20 Jul 2024 | AU$30.0b | AU$5.3b | AU$168.3m | 47.7x | 178.2x | 5.7x |
| Mon, 17 Jun 2024 | AU$29.5b | AU$5.3b | AU$168.9m | 43.1x | 174.9x | 5.6x |
| Wed, 15 May 2024 | AU$29.5b | AU$5.3b | AU$168.9m | 36x | 174.8x | 5.6x |
| Fri, 12 Apr 2024 | AU$29.4b | AU$5.4b | AU$169.3m | 38.1x | 173.7x | 5.5x |
| Sun, 10 Mar 2024 | AU$30.0b | AU$5.3b | AU$168.5m | 38.8x | 177.9x | 5.6x |
| Tue, 06 Feb 2024 | AU$27.3b | AU$5.1b | AU$279.5m | 24.3x | 97.5x | 5.3x |
| Thu, 04 Jan 2024 | AU$26.9b | AU$5.1b | AU$242.3m | 24.8x | 111.2x | 5.3x |
| Sat, 02 Dec 2023 | AU$24.8b | AU$5.1b | AU$244.8m | 24.8x | 101.3x | 4.9x |
| Mon, 30 Oct 2023 | AU$22.3b | AU$5.2b | AU$248.9m | 22.5x | 89.5x | 4.3x |
| Wed, 27 Sep 2023 | AU$24.0b | AU$5.2b | AU$247.2m | 23.8x | 97.1x | 4.6x |
Price to Earnings Ratio
97.1x
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 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 2.9x.
Past Earnings Growth
- Total earnings for the Medical Equipment industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 6.8% 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 | 0.0027% | |
| Healthcare | 3.25% | |
| Medical Equipment | 0.84% | |
| Medical Supplies | 2.23% | |
| Medical Equipment | -0.10% | |
Industry PE
- Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 40.5x.
- Analysts are expecting annual earnings growth of 11.5%, which is higher than its past year's earnings decline of 13.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 24% over the next 5 years.
- This is better than its past earnings decline of 5.2% per year.
- In contrast, the Medical Supplies industry is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|
| ANN Ansell | AU$42.31 | 2.3% +AU$134.6m | 24.7% | PE20.1x | |
| NAN Nanosonics | AU$2.92 | 5.8% +AU$47.8m | -29.8% | PE48.9x | |
| IMR Imricor Medical Systems | AU$1.85 | 1.6% +AU$10.8m | 23.3% | PS3936.5x | |
| HMD HeraMED | AU$0.042 | 27.3% +AU$10.4m | 7.7% | PS147.3x | |
| LDX Lumos Diagnostics Holdings | AU$0.11 | 10.0% +AU$9.4m | -31.3% | PS5.6x |