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Australian (ASX) Medical Equipment Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies30
  • 7D-0.8%
  • 3M-7.0%
  • 1Y-15.6%
  • YTD-3.2%

Over the last 7 days, the Medical Equipment industry has remained flat, although notably EBR Systems gained 9.9%. Unfortunately though, the industry is down 16% over the past 12 months. 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, 12 Feb 2026AU$26.7bAU$6.0bAU$184.0m37.4x144.9x4.4x
Sat, 10 Jan 2026AU$27.1bAU$6.2bAU$177.6m36.1x152.3x4.4x
Mon, 08 Dec 2025AU$28.2bAU$6.3b-AU$91,732,757.1235.2x-307.3x4.4x
Wed, 05 Nov 2025AU$28.7bAU$6.3bAU$161.0m33x178.2x4.6x
Fri, 03 Oct 2025AU$28.3bAU$6.3bAU$167.3m38x169.4x4.5x
Sun, 31 Aug 2025AU$29.6bAU$6.3bAU$143.4m34.5x206.7x4.7x
Tue, 29 Jul 2025AU$29.5bAU$6.0bAU$198.0m41x148.9x4.9x
Thu, 26 Jun 2025AU$27.5bAU$6.0bAU$197.8m38.6x139.3x4.6x
Sat, 24 May 2025AU$26.3bAU$6.0bAU$197.6m37x133.3x4.4x
Mon, 21 Apr 2025AU$25.4bAU$6.1bAU$208.2m35.1x121.9x4.2x
Wed, 19 Mar 2025AU$27.1bAU$6.1bAU$204.9m37.5x132.1x4.5x
Fri, 14 Feb 2025AU$30.2bAU$6.0bAU$187.4m55.8x161.4x5x
Sun, 12 Jan 2025AU$29.5bAU$5.7bAU$128.7m55.2x229.3x5.2x
Tue, 10 Dec 2024AU$29.4bAU$5.6bAU$156.7m55.3x187.5x5.3x
Thu, 07 Nov 2024AU$28.1bAU$5.5bAU$160.9m53.4x174.4x5.1x
Sat, 05 Oct 2024AU$28.7bAU$5.4bAU$160.2m53.7x179.1x5.3x
Mon, 02 Sep 2024AU$28.8bAU$5.4bAU$160.7m46.7x179x5.3x
Wed, 31 Jul 2024AU$31.4bAU$5.3bAU$169.5m44.7x185.1x5.9x
Fri, 28 Jun 2024AU$30.0bAU$5.3bAU$168.6m48.2x177.8x5.7x
Sun, 26 May 2024AU$29.1bAU$5.3bAU$168.8m37.4x172.3x5.5x
Tue, 23 Apr 2024AU$28.6bAU$5.4bAU$170.2m38.8x167.8x5.3x
Thu, 21 Mar 2024AU$28.9bAU$5.4bAU$169.4m38.8x170.8x5.4x
Sat, 17 Feb 2024AU$29.0bAU$5.1bAU$280.4m26.4x103.5x5.6x
Mon, 15 Jan 2024AU$26.7bAU$5.1bAU$243.3m23.6x109.6x5.2x
Wed, 13 Dec 2023AU$26.5bAU$5.1bAU$245.4m25.4x107.8x5.2x
Fri, 10 Nov 2023AU$23.6bAU$5.2bAU$249.8m23.8x94.4x4.5x
Sun, 08 Oct 2023AU$23.5bAU$5.2bAU$247.6m23.2x94.8x4.5x
Tue, 05 Sep 2023AU$24.8bAU$5.2bAU$223.2m21.9x111x4.8x
Thu, 03 Aug 2023AU$23.4bAU$5.1bAU$71.6m23.2x326.8x4.6x
Sat, 01 Jul 2023AU$23.0bAU$5.0bAU$65.4m22.5x352.5x4.6x
Mon, 29 May 2023AU$24.3bAU$5.1bAU$66.1m17.9x367.8x4.8x
Wed, 26 Apr 2023AU$25.0bAU$5.0bAU$64.6m17.2x387.4x5x
Fri, 24 Mar 2023AU$22.5bAU$5.0bAU$63.3m16.5x356x4.5x
Sun, 19 Feb 2023AU$23.2bAU$4.8bAU$105.2m20.1x220.7x4.8x
Price to Earnings Ratio

220.7x


Total Market Cap: AU$23.2bTotal Earnings: AU$105.2mTotal Revenue: AU$4.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Medical Equipment Industry Price to Earnings3Y Average 203.5x202420252026
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 145x which is lower than its 3-year average PE of 203x.
  • The industry is trading close to its 3-year average PS ratio of 4.9x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 20% per year over the last three years.
  • Revenues for these companies have grown 7.7% 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 Market0.77%
Healthcare-4.18%
Medical Equipment-0.84%
Medical Supplies1.69%
Medical Equipment-1.71%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry which is trading above its 3-year average PE ratio of 423x.
    • Analysts are expecting annual earnings growth of 14.9%, which is higher than its past year's earnings decline of 3.6% per year.
  • Investors are most pessimistic about the Medical Supplies industry, which is trading below its 3-year average of 44.1x.
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 15% 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
EBR EBR SystemsAU$0.839.9%
+AU$33.8m		-48.4%PS390.6x
IMR Imricor Medical SystemsAU$2.025.2%
+AU$32.1m		54.2%PS617.2x
SOM SomnoMedAU$0.7314.5%
+AU$20.2m		15.9%PS1.4x
AVR Anteris Technologies GlobalAU$8.002.6%
+AU$19.4m		-38.7%PS259.2x
EPI EpiminderAU$0.847.7%
+AU$13.0m		n/aPS408.2x

Latest News

EBR
AU$0.83
EBR Systems
7D
9.9%
1Y
-48.4%
SDI
AU$0.90
SDI
7D
-5.8%
1Y
-1.1%
PNV
AU$0.93
PolyNovo
7D
-7.0%
1Y
-50.9%

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.
ANN
AU$32.35
Ansell
7D
-0.06%
1Y
-11.1%

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$3.70
Nanosonics
7D
-5.4%
1Y
10.4%

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.
COH
AU$245.64
Cochlear
7D
-5.1%
1Y
-19.3%

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CYC
AU$0.91
Cyclopharm
7D
-2.2%
1Y
-53.9%
CMP
AU$0.38
Compumedics
7D
5.6%
1Y
33.9%

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

Jan 29
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IMR
AU$2.02
Imricor Medical Systems
7D
5.2%
1Y
54.2%

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LDX
AU$0.26
Lumos Diagnostics Holdings
7D
-1.9%
1Y
750.0%

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

Jan 27
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AVR
AU$8.00
Anteris Technologies Global
7D
2.6%
1Y
-38.7%
SOM
AU$0.73
SomnoMed
7D
14.5%
1Y
15.9%
VHL
AU$0.025
Vitasora Health
7D
13.6%
1Y
-58.3%
SLD
AU$1.12
Saluda Medical
7D
-7.4%
1Y
n/a
EPI
AU$0.84
Epiminder
7D
7.7%
1Y
n/a
AHC
AU$0.33
Austco Healthcare
7D
-14.5%
1Y
0%