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

Australian (ASX) Market Analysis & Valuation

UpdatedJan 21, 2026
DataAggregated Company Financials
Companies1550
  • 7D0.07%
  • 3M-2.1%
  • 1Y5.5%
  • YTD1.2%

In the last week, the market has been flat. More promisingly, the market is up 5.5% over the past year. Earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Australian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 Jan 2026AU$3.0tAU$1.2tAU$109.5b21.8x27.5x2.5x
Fri, 19 Dec 2025AU$2.9tAU$1.2tAU$110.0b21.3x26.5x2.4x
Sun, 16 Nov 2025AU$2.9tAU$1.2tAU$110.1b21.1x26.5x2.4x
Tue, 14 Oct 2025AU$3.0tAU$1.2tAU$110.9b21x27.1x2.5x
Thu, 11 Sep 2025AU$3.0tAU$1.2tAU$111.2b20.5x26.8x2.5x
Sat, 09 Aug 2025AU$3.0tAU$1.2tAU$103.6b19.2x28.7x2.5x
Mon, 07 Jul 2025AU$2.9tAU$1.2tAU$102.3b18.4x28.2x2.4x
Wed, 04 Jun 2025AU$2.8tAU$1.2tAU$102.9b18x27.5x2.3x
Fri, 02 May 2025AU$2.7tAU$1.2tAU$100.7b17.6x26.9x2.3x
Sun, 30 Mar 2025AU$2.7tAU$1.2tAU$104.7b17.6x25.4x2.2x
Tue, 25 Feb 2025AU$2.8tAU$1.2tAU$99.1b18.8x27.9x2.3x
Thu, 23 Jan 2025AU$2.8tAU$1.2tAU$89.7b19.3x31x2.4x
Sat, 21 Dec 2024AU$2.7tAU$1.2tAU$89.9b19.8x29.6x2.3x
Mon, 18 Nov 2024AU$2.7tAU$1.2tAU$88.3b19.6x31x2.3x
Wed, 16 Oct 2024AU$2.8tAU$1.2tAU$87.8b19.8x31.4x2.4x
Fri, 13 Sep 2024AU$2.7tAU$1.2tAU$88.1b19.5x30.2x2.3x
Sun, 11 Aug 2024AU$2.6tAU$1.2tAU$92.4b18.9x27.7x2.2x
Tue, 09 Jul 2024AU$2.6tAU$1.2tAU$91.2b19x28.4x2.2x
Thu, 06 Jun 2024AU$2.6tAU$1.2tAU$92.3b19.5x28.1x2.2x
Sat, 04 May 2024AU$2.5tAU$1.2tAU$94.1b19.6x27.1x2.2x
Mon, 01 Apr 2024AU$2.6tAU$1.2tAU$95.3b20.2x27.7x2.2x
Wed, 28 Feb 2024AU$2.6tAU$1.2tAU$95.6b19.5x26.8x2.2x
Fri, 26 Jan 2024AU$2.5tAU$1.2tAU$115.6b18.9x21.9x2.2x
Sun, 24 Dec 2023AU$2.5tAU$1.2tAU$114.6b18.7x22x2.2x
Tue, 21 Nov 2023AU$2.4tAU$1.2tAU$116.4b18.2x20.3x2x
Thu, 19 Oct 2023AU$2.4tAU$1.2tAU$119.4b17.7x20x2x
Sat, 16 Sep 2023AU$2.4tAU$1.2tAU$120.3b18.2x20.1x2x
Mon, 14 Aug 2023AU$2.5tAU$1.2tAU$145.3b16.9x17x2.1x
Wed, 12 Jul 2023AU$2.4tAU$1.2tAU$145.5b16.2x16.4x2.1x
Fri, 09 Jun 2023AU$2.4tAU$1.2tAU$145.3b16.1x16.3x2x
Sun, 07 May 2023AU$2.4tAU$1.2tAU$144.2b16.2x16.8x2.1x
Tue, 04 Apr 2023AU$2.4tAU$1.2tAU$144.2b15.9x16.8x2.1x
Thu, 02 Mar 2023AU$2.4tAU$1.2tAU$144.1b16.4x16.9x2.1x
Sat, 28 Jan 2023AU$2.5tAU$1.1tAU$145.6b16.3x17.3x2.3x
Price to Earnings Ratio

17.3x


Total Market Cap: AU$2.5tTotal Earnings: AU$145.6bTotal Revenue: AU$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 24.7x202420252026
Current Market PE
  • Investors are optimistic on the Australian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 27.5x which is higher than its 3-year average PE of 24.7x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 9.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.5% 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.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market0.069%
Energy2.42%
Utilities1.89%
Materials1.15%
Consumer Staples0.85%
Consumer Discretionary0.53%
Real Estate0.17%
Industrials0.17%
Healthcare-0.34%
Financials-0.80%
Telecom-0.99%
Tech-2.92%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.0%, which is higher than its past year's earnings growth of 15.6% per year.
  • The Energy sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 12.8x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 5.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NST Northern Star ResourcesAU$27.986.2%
+AU$2.3b		62.1%PE29.8xMaterials
CSL CSLAU$176.702.0%
+AU$1.6b		-35.4%PE19.1xHealthcare
WES WesfarmersAU$83.331.6%
+AU$1.5b		14.3%PE32.3xConsumer Discretionary
ANZ ANZ Group HoldingsAU$36.941.3%
+AU$1.4b		22.5%PB1.6xFinancials
BHP BHP GroupAU$47.780.4%
+AU$1.0b		17.7%PE18.1xMaterials
See more

Market Insights

Header cover image
Why Didn’t Oil React to Venezuela? 🇻🇪
Stella Ong avatar
Stella Ong
|
|
Maduro is out, the US stepped in… and oil markets barely reacted? Let’s look at why.
Continue reading
Which Markets Will Sink or Swim in 2026? 🌍
Last Week

Which Markets Will Sink or Swim in 2026? 🌍

Latest News

BHP
AU$47.78
BHP Group
7D
0.4%
1Y
17.7%
DRO
AU$4.74
DroneShield
7D
21.5%
1Y
612.8%

DRO: Index Inclusion And Stable Outlook Will Support Measured Future Upside Potential

Analysts have slightly reduced their price target on DroneShield to reflect a minor adjustment in the discount rate and future P/E assumptions, while keeping their fair value estimate unchanged at A$4.70. Valuation Changes Fair Value: The fair value estimate is unchanged at A$4.70 per share.
NST
AU$27.98
Northern Star Resources
7D
6.2%
1Y
62.1%
PME
AU$186.55
Pro Medicus
7D
-11.0%
1Y
-29.1%
XRO
AU$104.27
Xero
7D
-3.5%
1Y
-37.2%
360
AU$26.97
Life360
7D
-12.1%
1Y
13.3%
BXB
AU$22.70
Brambles
7D
-2.9%
1Y
18.8%

With EPS Growth And More, Brambles (ASX:BXB) Makes An Interesting Case

Jan 13
With EPS Growth And More, Brambles (ASX:BXB) Makes An Interesting Case
CSL
AU$176.70
CSL
7D
2.0%
1Y
-35.4%

CSL: Shares Will Recover As Seqirus Reset And Demerger Deferral Settle

Analysts have trimmed their CSL price target slightly, with fair value moving from about A$236.57 to A$232.45, as they factor in softer Seqirus vaccination trends and the deferred vaccine demerger, while still seeing the recent share pullback as an opportunity to re-engage with the stock. Analyst Commentary Recent research on CSL focuses heavily on the updated outlook for Seqirus, the indefinitely deferred vaccine demerger, and where the current share price sits relative to revised fair value estimates.
EVN
AU$13.51
Evolution Mining
7D
2.6%
1Y
138.7%

EVN: Joint Venture Lithium Project Will Support Stronger Future Profitability

Analysts have lifted their price target on Evolution Mining from A$8.90 to A$14.25, citing updated assumptions around revenue growth, profit margins and a slightly higher future P/E multiple as key drivers of the change. What's in the News Surge Battery Metals USA Inc.
CBA
AU$150.48
Commonwealth Bank of Australia
7D
-2.8%
1Y
-3.7%

CBA: Premium P E And Margin Risks Will Likely Restrain Future Returns

Analysts have modestly revised their price target for Commonwealth Bank of Australia, reflecting slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E, while keeping fair value broadly unchanged. Analyst Commentary While the recent price target update for Commonwealth Bank of Australia leaves fair value broadly unchanged, it sits against a backdrop of mixed sentiment in global financials research, particularly among insurers.
FMG
AU$22.26
Fortescue
7D
-1.4%
1Y
14.9%

FMG: Dividend Payout Will Continue To Worsen Emerging Earnings Risk Profile

Analysts have nudged their price target for Fortescue slightly higher to A$19.33 from A$19.18, reflecting small adjustments to assumptions on discount rate, revenue growth, profit margin and future P/E expectations. Valuation Changes Fair Value: updated slightly from A$19.18 to A$19.33 per share.
S32
AU$4.15
South32
7D
4.8%
1Y
15.9%
WES
AU$83.33
Wesfarmers
7D
1.6%
1Y
14.3%

WES: Higher Assumed P/E Will Test Execution And Margin Resilience

Analysts have increased their fair value estimate for Wesfarmers to A$60.19 from A$59.41, reflecting updated assumptions for revenue growth, profit margins and a slightly richer future P/E multiple. Analyst Commentary Analysts framing Wesfarmers around the updated A$60.19 fair value are broadly focused on how much investors are being asked to pay for a diversified earnings stream that still needs to deliver against expectations for revenue growth and margins.
ANZ
AU$36.94
ANZ Group Holdings
7D
1.3%
1Y
22.5%

ANZ: Regulatory Penalties And Governance Changes Will Shape Resilient Future Performance

Analysts have nudged their price target for ANZ Group Holdings slightly lower to about A$35.21 from A$35.24, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Analyst Commentary Analysts are using the updated A$35.21 price target to refine how they think about ANZ Group Holdings on both the upside and downside, with views anchored in discount rate assumptions, revenue trends, profit margins and future P/E expectations.
WTC
AU$63.52
WiseTech Global
7D
-5.3%
1Y
-46.6%

WTC: Analyst Day Insights Will Support Long-Term Share Price Appreciation

Analysts have trimmed their fair value estimate for WiseTech Global to A$107.32 from A$113.39, reflecting slightly adjusted assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News WiseTech Global has scheduled an Analyst and Investor Day for 27 November 2025, classified as an Analyst/Investor Day event.
NAB
AU$41.86
National Australia Bank
7D
-1.3%
1Y
7.7%

NAB: Potential HSBC Australia Acquisition Will Support Future Earnings Multiple

Analysts have slightly adjusted their price target on National Australia Bank to A$46.31, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E. Their overall valuation view remains broadly unchanged.