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Australian (ASX) Market Analysis & Valuation

UpdatedSep 19, 2025
DataAggregated Company Financials
Companies1565
  • 7D-0.4%
  • 3M3.6%
  • 1Y7.1%
  • YTD6.7%

The market has been flat in the last week, however the Energy sector is down 5.2%. As for the longer term, the market has risen 7.1% in the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025AU$3.0tAU$1.2tAU$110.8b20.2x26.7x2.5x
Sun, 17 Aug 2025AU$3.0tAU$1.2tAU$105.6b19x28.5x2.5x
Tue, 15 Jul 2025AU$2.9tAU$1.2tAU$102.2b18.6x28.2x2.4x
Thu, 12 Jun 2025AU$2.9tAU$1.2tAU$102.6b18.1x28x2.4x
Sat, 10 May 2025AU$2.7tAU$1.2tAU$103.7b17.8x26.5x2.3x
Mon, 07 Apr 2025AU$2.5tAU$1.2tAU$106.9b16.8x23.8x2.1x
Wed, 05 Mar 2025AU$2.7tAU$1.2tAU$105.3b17.9x26x2.2x
Fri, 31 Jan 2025AU$2.8tAU$1.2tAU$90.1b19.5x31.1x2.4x
Sun, 29 Dec 2024AU$2.7tAU$1.2tAU$90.1b19.9x30.3x2.3x
Tue, 26 Nov 2024AU$2.8tAU$1.2tAU$88.3b19.5x31.4x2.4x
Thu, 24 Oct 2024AU$2.7tAU$1.2tAU$88.1b19.8x30.8x2.3x
Sat, 21 Sep 2024AU$2.7tAU$1.2tAU$87.7b19.4x30.9x2.3x
Mon, 19 Aug 2024AU$2.6tAU$1.2tAU$91.4b19.7x28.7x2.3x
Wed, 17 Jul 2024AU$2.7tAU$1.1tAU$90.9b19.3x29.2x2.3x
Fri, 14 Jun 2024AU$2.6tAU$1.2tAU$92.2b18.9x28x2.2x
Sun, 12 May 2024AU$2.6tAU$1.2tAU$93.2b19.8x27.7x2.2x
Tue, 09 Apr 2024AU$2.6tAU$1.2tAU$94.9b20.2x27.4x2.2x
Thu, 07 Mar 2024AU$2.6tAU$1.2tAU$96.9b19.7x26.7x2.2x
Sat, 03 Feb 2024AU$2.6tAU$1.2tAU$115.5b19x22.3x2.2x
Mon, 01 Jan 2024AU$2.6tAU$1.2tAU$114.5b18.8x22.3x2.2x
Wed, 29 Nov 2023AU$2.3tAU$1.2tAU$116.0b17.9x20.3x2x
Fri, 27 Oct 2023AU$2.3tAU$1.2tAU$120.1b17.4x19.1x1.9x
Sun, 24 Sep 2023AU$2.4tAU$1.2tAU$119.9b17.7x19.9x2x
Tue, 22 Aug 2023AU$2.4tAU$1.2tAU$141.5b16.8x17x2x
Thu, 20 Jul 2023AU$2.5tAU$1.2tAU$144.5b16.6x17x2.1x
Sat, 17 Jun 2023AU$2.4tAU$1.2tAU$143.6b16x16.9x2.1x
Mon, 15 May 2023AU$2.4tAU$1.2tAU$145.8b16.3x16.7x2.1x
Wed, 12 Apr 2023AU$2.5tAU$1.2tAU$144.8b16.1x16.9x2.1x
Fri, 10 Mar 2023AU$2.5tAU$1.2tAU$144.8b16.3x16.9x2.1x
Sun, 05 Feb 2023AU$2.5tAU$1.1tAU$147.1b16.3x17.3x2.3x
Tue, 03 Jan 2023AU$2.4tAU$1.1tAU$148.2b14.8x15.9x2.2x
Thu, 01 Dec 2022AU$2.4tAU$1.1tAU$149.7b14.8x16.4x2.2x
Sat, 29 Oct 2022AU$2.3tAU$1.1tAU$150.0b14.3x15.3x2.1x
Mon, 26 Sep 2022AU$2.2tAU$1.1tAU$149.6b14.1x14.9x2x
Price to Earnings Ratio

14.9x


Total Market Cap: AU$2.2tTotal Earnings: AU$149.6bTotal Revenue: AU$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 23.4x202320242025
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 26.7x which is higher than its 3-year average PE of 23.4x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 9.5% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.3% 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 Market-0.37%
Tech1.54%
Materials0.60%
Utilities0.43%
Real Estate-0.18%
Consumer Discretionary-0.27%
Financials-0.33%
Telecom-0.39%
Industrials-0.58%
Consumer Staples-0.94%
Healthcare-1.38%
Energy-5.15%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • Analysts expect its future annual earnings growth (23.2%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
  • 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 12.2x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Financials sector is expected to see its earnings grow by 4.3% 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
PME Pro MedicusAU$313.295.0%
+AU$1.6b		82.0%PE284.2xHealthcare
PLS Pilbara MineralsAU$2.3116.7%
+AU$1.1b		-17.2%PS9.7xMaterials
SGH SGHAU$50.433.9%
+AU$776.0m		17.0%PE42.2xIndustrials
NAB National Australia BankAU$43.790.6%
+AU$763.9m		10.4%PB2.2xFinancials
ALL Aristocrat LeisureAU$68.621.7%
+AU$678.0m		19.1%PE36.5xConsumer Discretionary
See more

Market Insights

Header cover image
🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
Richard Bowman avatar
Richard Bowman
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It’s been a while since we checked in on commodity markets, which, like other markets, are having quite the interesting year. In particular, gold continues its march upward, while oil remains in a slump. As for the rest, most have been up and down and ended up close to where they were a year ago. By the end, you’ll see why gold stocks still look cheap despite these record prices — and why oil stocks, oddly enough, look expensive even as crude declines.
Continue reading
🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
Last Week

🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast

Latest News

STO
AU$6.74
Santos
7D
-13.1%
1Y
-4.9%
CSL
AU$198.34
CSL
7D
-3.6%
1Y
-32.6%
BHP
AU$39.97
BHP Group
7D
-0.7%
1Y
-0.5%

Global Decarbonization And Asia Demand Will Underpin Durable Metals Performance

BHP Group's consensus price target was trimmed to A$42.33 as analysts cite valuation concerns amid reduced free cash flow yields, persistent cost pressures, and project execution risks, with the revision reflecting a more cautious outlook despite recent strong results. Analyst Commentary Mixed analyst sentiment with several downgrades to Neutral/Market Perform, citing valuation concerns after the recent share rally and reduced free cash flow yields.
PLS
AU$2.29
Pilbara Minerals
7D
16.2%
1Y
-20.5%
WDS
AU$23.06
Woodside Energy Group
7D
-8.0%
1Y
-6.3%

Global LNG Expansion Will Falter Under Renewables Pressure

Woodside Energy Group’s consensus price target was marginally reduced, as analysts now expect weaker revenue growth and a significantly higher future P/E ratio, indicating a less optimistic outlook. What's in the News Woodside Energy Group directors declared a fully franked interim dividend of 53 US cents per share, an 80% payout ratio of underlying NPAT, with an annualized yield of 6.9% for the first half.
NAB
AU$43.36
National Australia Bank
7D
0.8%
1Y
9.8%

Digital Payments And Urban Expansion Will Unlock Opportunities

National Australia Bank’s consensus price target has increased, primarily reflecting improved revenue growth forecasts and a modest expansion in net profit margin, raising the fair value estimate from A$33.53 to A$36.11. What's in the News NAB appointed Inder Singh, former QBE Insurance CFO, as Group CFO and Group Executive, Strategy, effective March 2026, pending regulatory approval.
QAN
AU$11.05
Qantas Airways
7D
-5.8%
1Y
53.3%
SEK
AU$28.89
SEEK
7D
6.4%
1Y
23.9%

Estimating The Fair Value Of SEEK Limited (ASX:SEK)

Sep 10
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BXB
AU$24.50
Brambles
7D
-3.7%
1Y
30.7%

Digital Tracking And Circular Supply Chains Will Improve Efficiency

Analysts have trimmed Brambles' price target to A$24.80 amid concerns that the recent share price rally has outpaced fundamentals, with limited improvement in the financial outlook and valuation now exceeding intrinsic value. Analyst Commentary Share price rally seen as excessive relative to underlying fundamentals and forecasts.
MIN
AU$38.51
Mineral Resources
7D
7.2%
1Y
1.9%
WBC
AU$38.68
Westpac Banking
7D
1.9%
1Y
15.9%

Rising Tech Costs And Competition Will Pressure Bank Earnings In Australia

Westpac Banking’s fair value estimate was revised marginally higher amid minimal changes in both the consensus future P/E and the discount rate, resulting in a new analyst price target of A$30.71. What's in the News Westpac Banking is considered a leading contender to acquire HSBC's Australian retail banking arm, which is expected to sell for billions of dollars and includes approximately $40 billion in loans and $30 billion in deposits.
360
AU$50.26
Life360
7D
4.6%
1Y
192.2%

Digital Safety And Family Connectivity Will Expand International Markets

Despite the consensus analyst price target for Life360 remaining unchanged at A$44.24, the sharp increase in its future P/E ratio from 97.26x to 150.38x suggests heightened valuation concerns relative to expected earnings. What's in the News Life360 launched No Show Alerts, a customizable feature that notifies parents only if a loved one fails to arrive at a designated location, aiming to simplify family logistics and reduce parental stress; the feature is free in the US and rolling out globally.
CBA
AU$164.33
Commonwealth Bank of Australia
7D
-2.1%
1Y
14.1%

Digital Disruption Will Challenge Market Shares While Tech Drives Progress

With no material changes to the discount rate or future P/E, analysts have maintained their fair value estimate for Commonwealth Bank of Australia at A$117.82. What's in the News Commonwealth Bank of Australia (CBA) extended its share buyback plan duration to August 12, 2026, maintaining flexibility in capital management (Key Developments, 2025-08-13).
ALL
AU$68.42
Aristocrat Leisure
7D
-2.6%
1Y
19.3%

Estimating The Fair Value Of Aristocrat Leisure Limited (ASX:ALL)

Aug 31
Estimating The Fair Value Of Aristocrat Leisure Limited (ASX:ALL)
WTC
AU$96.62
WiseTech Global
7D
2.6%
1Y
-26.8%
MQG
AU$223.42
Macquarie Group
7D
1.6%
1Y
-3.6%

Asset Management And Digitization Investments Will Improve Future Efficiency

With both the Future P/E and Net Profit Margin for Macquarie Group largely unchanged, the consensus analyst price target has seen only a marginal increase to A$221.24. What's in the News Macquarie Group is set to acquire a 40% minority stake in Portuguese hospital operator Luz Saúde, outbidding CVC Capital Partners and KKR, with the deal valuing Luz Saúde at over €1 billion.