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Australian (ASX) Market Analysis & Valuation

UpdatedAug 26, 2026
DataAggregated Company Financials
Companies1568
  • 7D0.9%
  • 3M4.8%
  • 1Y1.7%
  • YTD3.4%

The Healthcare sector gained 9.5% while the market remained flat over the last week. As for the longer term, the market has also been flat over the past year. As for the next few years, earnings are expected to grow by 12% 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
Wed, 26 Aug 2026AU$3.1tAU$1.2tAU$112.6b17.7x27.3x2.5x
Fri, 24 Jul 2026AU$3.0tAU$1.2tAU$114.3b17.3x25.9x2.5x
Sun, 21 Jun 2026AU$3.0tAU$1.2tAU$114.3b17.3x25.9x2.5x
Tue, 19 May 2026AU$2.9tAU$1.2tAU$113.3b17.1x25.2x2.4x
Thu, 16 Apr 2026AU$3.0tAU$1.2tAU$113.4b17.6x26.5x2.5x
Sat, 14 Mar 2026AU$2.9tAU$1.2tAU$111.0b18.7x26.1x2.4x
Mon, 09 Feb 2026AU$2.9tAU$1.2tAU$108.1b20.6x27.2x2.5x
Wed, 07 Jan 2026AU$3.0tAU$1.2tAU$109.6b21.3x27x2.5x
Fri, 05 Dec 2025AU$2.9tAU$1.2tAU$109.9b21.5x26.6x2.4x
Sun, 02 Nov 2025AU$3.0tAU$1.2tAU$110.6b21.7x27.2x2.5x
Tue, 30 Sep 2025AU$3.0tAU$1.2tAU$110.8b20.9x27x2.5x
Thu, 28 Aug 2025AU$3.0tAU$1.2tAU$106.1b19x28.5x2.5x
Sat, 26 Jul 2025AU$2.9tAU$1.2tAU$102.2b18.7x28.5x2.4x
Mon, 23 Jun 2025AU$2.8tAU$1.2tAU$103.0b17.9x27.6x2.3x
Wed, 21 May 2025AU$2.8tAU$1.2tAU$103.0b17.9x27.1x2.3x
Fri, 18 Apr 2025AU$2.6tAU$1.2tAU$104.4b17.1x24.9x2.1x
Sun, 16 Mar 2025AU$2.6tAU$1.2tAU$104.9b17.5x24.7x2.1x
Tue, 11 Feb 2025AU$2.8tAU$1.2tAU$91.9b19.8x30.6x2.4x
Thu, 09 Jan 2025AU$2.8tAU$1.2tAU$90.2b19.8x30.6x2.3x
Sat, 07 Dec 2024AU$2.8tAU$1.2tAU$88.9b20.3x31.3x2.4x
Mon, 04 Nov 2024AU$2.7tAU$1.2tAU$88.7b19.5x30.2x2.3x
Wed, 02 Oct 2024AU$2.7tAU$1.2tAU$87.0b19.8x31.3x2.4x
Fri, 30 Aug 2024AU$2.7tAU$1.2tAU$87.4b19.7x30.4x2.3x
Sun, 28 Jul 2024AU$2.6tAU$1.2tAU$92.1b19.2x28.5x2.3x
Tue, 25 Jun 2024AU$2.6tAU$1.2tAU$92.1b18.9x28x2.2x
Thu, 23 May 2024AU$2.6tAU$1.2tAU$91.9b19.5x28.4x2.3x
Sat, 20 Apr 2024AU$2.5tAU$1.2tAU$95.9b19.8x26.6x2.2x
Mon, 18 Mar 2024AU$2.6tAU$1.2tAU$96.5b19.4x26.5x2.2x
Wed, 14 Feb 2024AU$2.5tAU$1.2tAU$118.7b19x21.4x2.2x
Fri, 12 Jan 2024AU$2.5tAU$1.2tAU$114.7b18.6x21.8x2.1x
Sun, 10 Dec 2023AU$2.4tAU$1.2tAU$116.3b18x20.7x2.1x
Tue, 07 Nov 2023AU$2.4tAU$1.2tAU$117.6b17.9x20.1x2x
Thu, 05 Oct 2023AU$2.4tAU$1.2tAU$120.0b17.5x19.8x2x
Sat, 02 Sep 2023AU$2.5tAU$1.2tAU$119.5b18.5x20.5x2.1x
Price to Earnings Ratio

20.5x


Total Market Cap: AU$2.5tTotal Earnings: AU$119.5bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26.6x202420252026
Current Market PE
  • Investors are relatively neutral on the Australian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 26.6x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 2.1% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market0.91%
Materials5.93%
Healthcare2.70%
Energy1.49%
Tech1.07%
Utilities0.88%
Telecom0.29%
Consumer Staples-0.50%
Industrials-0.62%
Consumer Discretionary-1.01%
Financials-1.97%
Real Estate-2.90%
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 23.0%, which is higher than its past year's earnings growth of 10.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 22% per year.
  • In contrast, the Utilities industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
BHP BHP GroupAU$67.676.0%
+AU$19.6b		58.7%PE25xMaterials
CSL CSLAU$173.6410.0%
+AU$7.6b		-19.3%PS3.8xHealthcare
EVN Evolution MiningAU$15.8816.3%
+AU$4.5b		90.4%PE21.9xMaterials
NST Northern Star ResourcesAU$24.549.2%
+AU$2.9b		31.9%PE21xMaterials
GMD Genesis MineralsAU$8.6718.3%
+AU$1.8b		102.1%PE16.9xMaterials
See more

Market Insights

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Latest News

CDA
AU$49.92
Codan
7D
14.9%
1Y
63.1%
S32
AU$5.13
South32
7D
6.4%
1Y
76.9%
SGP
AU$4.67
Stockland
7D
15.3%
1Y
-26.1%
EVN
AU$15.88
Evolution Mining
7D
16.3%
1Y
90.4%
BHP
AU$67.67
BHP Group
7D
6.0%
1Y
58.7%
SHL
AU$20.44
Sonic Healthcare
7D
-11.2%
1Y
-14.3%
NST
AU$24.54
Northern Star Resources
7D
9.2%
1Y
31.9%
GMD
AU$8.67
Genesis Minerals
7D
18.3%
1Y
102.1%
Narrative Update • Aug 21

GMD: Production Outlook And Higher Margins Will Support Measured Future Repricing

Analysts have lifted their price target on Genesis Minerals to A$8.60 from A$8.33, citing updated expectations for profit margins and valuation that align with recent Street research, including the A$7.80 target in the latest coverage reinstatement. What’s in the News for Genesis Minerals No recent company specific news items for Genesis Minerals are available from the referenced primary sources as of 20 Aug 2026.
GMG
AU$27.80
Goodman Group
7D
-8.8%
1Y
-18.4%
CSL
AU$173.64
CSL
7D
10.0%
1Y
-19.3%
Narrative Update • Aug 20

CSL: Roofing Restructuring And Owens Corning Optionality Will Shape Earnings Path

Analysts have lifted their fair value estimate for Carlisle (CSL) to A$163.95 from A$138.19, reflecting updated assumptions on the discount rate, slightly higher profit margins and a higher future P/E multiple. They are also factoring in recent research that adjusts expectations around roofing demand, input costs and potential Owens Corning deal scenarios.
WBC
AU$34.02
Westpac Banking
7D
-1.8%
1Y
-11.2%
MQG
AU$252.00
Macquarie Group
7D
-1.3%
1Y
12.2%
CBA
AU$157.01
Commonwealth Bank of Australia
7D
-3.5%
1Y
-7.1%
Narrative Update • Aug 18

CBA: Elevated P/E Will Confront Softer Revenue Outlook And Mortgage Headwinds

Analysts have lifted the Commonwealth Bank of Australia price target from about A$122.57 to A$125.21. This reflects updated assumptions around a slightly higher profit margin, modestly different revenue growth expectations, a small change in the discount rate and a marginally lower future P/E.
NAB
AU$38.25
National Australia Bank
7D
-2.4%
1Y
-8.6%
WES
AU$82.69
Wesfarmers
7D
-1.8%
1Y
-9.5%
New Narrative • Aug 15

Wesfarmers: From Farmers' Co-op to Retail Empire

(This article first appeared on my substack account on 9 August 2026: Wesfarmers: From Farmers' Co-op to Retail Empire ) Bunnings and Kmart have become Australian institutions: stable, solid and dominant retail businesses within their respective sectors. As such, their parent company, Wesfarmers, is the subject of today’s deep dive.
ANZ
AU$37.03
ANZ Group Holdings
7D
-1.7%
1Y
11.7%
Narrative Update • Aug 14

ANZ: Margin Execution And Deposit Momentum Will Shape Mortgage And Wealth Outlook

Analysts have raised their price target on ANZ Group Holdings to A$36.43 from A$35.55, citing updated assumptions that include a modestly different discount rate, slightly softer revenue growth expectations, a small uplift in profit margin forecasts and a higher future P/E multiple. Analyst Commentary Recent commentary around ANZ Group Holdings focuses on how updated assumptions feed into the revised A$36.43 price target.