Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Medical Equipment Industry Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies30
  • 7D-14.5%
  • 3M-17.9%
  • 1Y-23.6%
  • YTD-17.2%

Over the last 7 days, the Medical Equipment industry has dropped 15%, driven by Cochlear declining 22%. On the other hand Imricor Medical Systems is actually up 12%. However, the industry is down 23% over the past year. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026AU$22.8bAU$6.1bAU$185.2m31x123.3x3.8x
Sat, 17 Jan 2026AU$27.5bAU$6.2bAU$177.9m38.7x154.7x4.4x
Mon, 15 Dec 2025AU$27.2bAU$6.2bAU$177.1m34x153.9x4.4x
Wed, 12 Nov 2025AU$29.1bAU$6.3bAU$161.4m33.5x180.2x4.6x
Fri, 10 Oct 2025AU$28.6bAU$6.3bAU$162.5m39.1x175.8x4.6x
Sun, 07 Sep 2025AU$29.4bAU$6.3bAU$166.8m32.3x176.4x4.7x
Tue, 05 Aug 2025AU$29.0bAU$6.0bAU$197.7m40.1x146.6x4.8x
Thu, 03 Jul 2025AU$28.2bAU$6.0bAU$198.2m39.7x142.1x4.7x
Sat, 31 May 2025AU$26.6bAU$6.1bAU$197.3m37x134.6x4.4x
Mon, 28 Apr 2025AU$25.8bAU$6.1bAU$208.4m35.5x123.6x4.2x
Wed, 26 Mar 2025AU$27.1bAU$6.1bAU$204.6m37.4x132.5x4.4x
Fri, 21 Feb 2025AU$28.3bAU$6.0bAU$210.9m48x134x4.7x
Sun, 19 Jan 2025AU$29.9bAU$5.7bAU$129.5m55.6x230.9x5.3x
Tue, 17 Dec 2024AU$28.6bAU$5.6bAU$157.0m53.7x181.9x5.1x
Thu, 14 Nov 2024AU$28.6bAU$5.5bAU$161.0m54.5x177.4x5.2x
Sat, 12 Oct 2024AU$28.7bAU$5.5bAU$161.3m53.6x177.9x5.3x
Mon, 09 Sep 2024AU$28.0bAU$5.5bAU$160.1m53x174.7x5.1x
Wed, 07 Aug 2024AU$29.9bAU$5.4bAU$164.9m44x181.2x5.6x
Fri, 05 Jul 2024AU$29.4bAU$5.3bAU$168.0m48.9x175x5.6x
Sun, 02 Jun 2024AU$29.2bAU$5.3bAU$168.6m34.5x173x5.5x
Tue, 30 Apr 2024AU$29.3bAU$5.3bAU$169.0m37.4x173.2x5.5x
Thu, 28 Mar 2024AU$29.6bAU$5.4bAU$169.3m41x175x5.5x
Sat, 24 Feb 2024AU$29.7bAU$5.3bAU$261.5m29x113.7x5.7x
Mon, 22 Jan 2024AU$26.8bAU$5.1bAU$245.2m24.3x109.2x5.2x
Wed, 20 Dec 2023AU$27.0bAU$5.1bAU$242.2m24.8x111.4x5.3x
Fri, 17 Nov 2023AU$23.9bAU$5.2bAU$247.2m23.8x96.8x4.6x
Sun, 15 Oct 2023AU$23.6bAU$5.2bAU$249.8m24.5x94.4x4.5x
Tue, 12 Sep 2023AU$24.6bAU$5.2bAU$246.7m22.5x99.8x4.7x
Thu, 10 Aug 2023AU$23.3bAU$5.1bAU$72.0m22.5x323.3x4.6x
Sat, 08 Jul 2023AU$22.4bAU$5.0bAU$64.9m22.5x345x4.5x
Mon, 05 Jun 2023AU$24.2bAU$5.1bAU$65.5m18.5x369.9x4.8x
Wed, 03 May 2023AU$24.5bAU$5.0bAU$64.6m17.9x379.9x4.9x
Fri, 31 Mar 2023AU$23.2bAU$5.0bAU$64.2m16.5x361.6x4.6x
Sun, 26 Feb 2023AU$23.1bAU$5.0bAU$65.6m20x352.6x4.6x
Price to Earnings Ratio

352.6x


Total Market Cap: AU$23.1bTotal Earnings: AU$65.6mTotal Revenue: AU$5.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Medical Equipment Industry Price to Earnings3Y Average 203.1x202420252026
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 123x 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 3.8x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 35% per year over the last three years.
  • Revenues for these companies have grown 6.8% 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 Market-0.51%
Healthcare-8.25%
Medical Equipment-14.46%
Medical Supplies-1.80%
Medical Equipment-18.91%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 44.0x.
    • Analysts are expecting annual earnings growth of 19.6%, which is lower than the prior year's growth of 40.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 20% over the next 5 years.
  • However this is lower than its past earnings growth rate of 40% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 16% 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
ANN AnsellAU$33.513.6%
+AU$180.4m		-6.2%PE24.9x
PNV PolyNovoAU$1.018.6%
+AU$55.3m		-47.4%PE52.5x
IMR Imricor Medical SystemsAU$2.177.4%
+AU$48.1m		42.8%PS655.3x
EPI EpiminderAU$0.9114.6%
+AU$24.9m		n/aPS439.8x
AHC Austco HealthcareAU$0.3918.5%
+AU$22.5m		20.3%PE24.3x

Latest News

ANN
AU$33.51
Ansell
7D
3.6%
1Y
-6.2%
IMR
AU$2.17
Imricor Medical Systems
7D
7.4%
1Y
42.8%
SLD
AU$1.04
Saluda Medical
7D
-7.6%
1Y
n/a
LDX
AU$0.28
Lumos Diagnostics Holdings
7D
9.8%
1Y
865.5%

Antibiotic Stewardship And CLIA Waiver Progress Will Shape This Fairly Valued Outlook

Catalysts About Lumos Diagnostics Holdings Lumos Diagnostics Holdings focuses on point of care diagnostic tests that aim to support real time treatment decisions for physicians and patients. What are the underlying business or industry changes driving this perspective?
COH
AU$199.94
Cochlear
7D
-18.6%
1Y
-26.5%

Cochlear (ASX:COH) Has Affirmed Its Dividend Of A$2.15

Feb 16
Cochlear (ASX:COH) Has Affirmed Its Dividend Of A$2.15
SOM
AU$0.67
SomnoMed
7D
-8.2%
1Y
13.6%
SDI
AU$0.85
SDI
7D
-5.6%
1Y
-5.6%
PNV
AU$1.01
PolyNovo
7D
8.6%
1Y
-47.4%

PNV: Refined Earnings Assumptions Will Support Steady Fair Value Upside

Analysts have reaffirmed their A$1.25 price target for PolyNovo, with only slight tweaks to the discount rate, revenue growth, profit margin and assumed future P/E. This reflects fine tuning of their valuation rather than a major change in view.
NAN
AU$3.77
Nanosonics
7D
1.9%
1Y
-11.5%

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.
CMP
AU$0.34
Compumedics
7D
-8.0%
1Y
21.1%

Compumedics Limited's (ASX:CMP) Price Is Right But Growth Is Lacking After Shares Rocket 26%

Jan 29
Compumedics Limited's (ASX:CMP) Price Is Right But Growth Is Lacking After Shares Rocket 26%
MX1
AU$0.07
Micro-X
7D
-17.6%
1Y
0%
CQT
AU$0.036
CONNEQT Health
7D
-18.2%
1Y
-71.2%
EPI
AU$0.91
Epiminder
7D
14.6%
1Y
n/a
CVB
AU$0.07
CurveBeam AI
7D
-12.5%
1Y
-48.1%
OIL
AU$0.092
Optiscan Imaging
7D
2.2%
1Y
-42.5%
AHC
AU$0.39
Austco Healthcare
7D
18.5%
1Y
20.3%