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Australian (ASX) Market Analysis & Valuation

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies1577
  • 7D4.3%
  • 3M0.8%
  • 1Y16.2%
  • YTD1.0%

The market is up 4.3% over the last week, with the Financials sector leading the way, up 6.3%. Meanwhile, the Energy sector has underperformed, shrinking 4.1% in that time. The market is up 16% over the last 12 months. 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
Sun, 12 Apr 2026AU$3.0tAU$1.2tAU$113.7b17.4x26.3x2.5x
Tue, 10 Mar 2026AU$2.9tAU$1.2tAU$111.3b18.9x26x2.4x
Thu, 05 Feb 2026AU$3.0tAU$1.2tAU$108.1b21.6x28x2.6x
Sat, 03 Jan 2026AU$3.0tAU$1.2tAU$109.7b21.7x27.1x2.5x
Mon, 01 Dec 2025AU$2.9tAU$1.2tAU$110.2b22x26.5x2.4x
Wed, 29 Oct 2025AU$2.9tAU$1.2tAU$103.3b22.1x28.2x2.5x
Fri, 26 Sep 2025AU$3.0tAU$1.2tAU$110.7b20.9x26.8x2.5x
Sun, 24 Aug 2025AU$3.0tAU$1.2tAU$107.4b19.3x28.1x2.5x
Tue, 22 Jul 2025AU$2.9tAU$1.2tAU$102.5b18.6x28.5x2.4x
Thu, 19 Jun 2025AU$2.9tAU$1.2tAU$102.7b17.9x27.8x2.4x
Sat, 17 May 2025AU$2.8tAU$1.2tAU$102.9b17.9x27.1x2.3x
Mon, 14 Apr 2025AU$2.5tAU$1.2tAU$105.1b17x24.2x2.1x
Wed, 12 Mar 2025AU$2.6tAU$1.2tAU$104.9b17.5x25x2.2x
Fri, 07 Feb 2025AU$2.8tAU$1.2tAU$91.1b19.6x30.9x2.4x
Sun, 05 Jan 2025AU$2.7tAU$1.2tAU$90.1b20x30.3x2.3x
Tue, 03 Dec 2024AU$2.8tAU$1.2tAU$88.4b19.9x31.5x2.4x
Thu, 31 Oct 2024AU$2.7tAU$1.2tAU$88.5b19.8x30.5x2.3x
Sat, 28 Sep 2024AU$2.7tAU$1.2tAU$87.1b19.6x31.2x2.4x
Mon, 26 Aug 2024AU$2.6tAU$1.2tAU$87.8b19.4x30.1x2.3x
Wed, 24 Jul 2024AU$2.6tAU$1.2tAU$91.5b19.3x28.9x2.3x
Fri, 21 Jun 2024AU$2.6tAU$1.2tAU$92.1b18.9x28.2x2.2x
Sun, 19 May 2024AU$2.6tAU$1.2tAU$92.3b19.4x28.2x2.2x
Tue, 16 Apr 2024AU$2.6tAU$1.2tAU$95.4b20.2x27.1x2.2x
Thu, 14 Mar 2024AU$2.6tAU$1.2tAU$96.2b19.5x26.9x2.2x
Sat, 10 Feb 2024AU$2.5tAU$1.2tAU$119.2b19.1x21.4x2.2x
Mon, 08 Jan 2024AU$2.5tAU$1.2tAU$114.6b18.7x21.9x2.1x
Wed, 06 Dec 2023AU$2.4tAU$1.2tAU$116.4b17.7x20.3x2x
Fri, 03 Nov 2023AU$2.3tAU$1.2tAU$119.0b17.9x19.6x2x
Sun, 01 Oct 2023AU$2.4tAU$1.2tAU$119.3b18.2x20x2x
Tue, 29 Aug 2023AU$2.4tAU$1.2tAU$123.8b17.1x19.5x2x
Thu, 27 Jul 2023AU$2.5tAU$1.2tAU$144.5b16.7x17.2x2.1x
Sat, 24 Jun 2023AU$2.4tAU$1.2tAU$145.2b15.9x16.4x2x
Mon, 22 May 2023AU$2.4tAU$1.2tAU$145.6b16.2x16.7x2.1x
Wed, 19 Apr 2023AU$2.5tAU$1.2tAU$144.0b16.1x17.2x2.1x
Price to Earnings Ratio

17.2x


Total Market Cap: AU$2.5tTotal Earnings: AU$144.0bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 25.4x202420252026
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 25.4x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.6% 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 Market4.32%
Financials6.35%
Materials6.22%
Real Estate4.45%
Consumer Discretionary3.74%
Industrials2.97%
Tech2.30%
Telecom1.54%
Healthcare1.46%
Consumer Staples0.10%
Utilities-0.86%
Energy-4.08%
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 19.9%, which is higher than its past year's earnings growth of 14.0% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 170x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 4.8% 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
CBA Commonwealth Bank of AustraliaAU$183.386.1%
+AU$17.7b		18.6%PB4xFinancials
BHP BHP GroupAU$53.985.4%
+AU$14.0b		52.4%PE19xMaterials
NAB National Australia BankAU$45.368.5%
+AU$10.9b		36.5%PB2.2xFinancials
WBC Westpac BankingAU$42.777.3%
+AU$10.0b		42.4%PB2xFinancials
MQG Macquarie GroupAU$225.009.4%
+AU$7.1b		25.7%PE22.7xFinancials
See more

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Latest News

ANZ
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ANZ Group Holdings
7D
6.0%
1Y
44.1%

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ORA
AU$1.49
Orora
7D
-20.6%
1Y
-14.7%

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TCL
AU$13.67
Transurban Group
7D
-1.4%
1Y
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MQG
AU$225.00
Macquarie Group
7D
9.4%
1Y
25.7%

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NHC
AU$5.18
New Hope
7D
-11.3%
1Y
43.9%

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CBA
AU$183.38
Commonwealth Bank of Australia
7D
6.1%
1Y
18.6%

CBA: Elevated P/E And Margin Risks May Restrain Fully Franked Dividend Appeal

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WHC
AU$8.12
Whitehaven Coal
7D
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1Y
69.5%

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XRO
AU$71.46
Xero
7D
-3.5%
1Y
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BHP
AU$53.98
BHP Group
7D
5.4%
1Y
52.4%

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NAB
AU$45.36
National Australia Bank
7D
8.5%
1Y
36.5%

NAB: Future Earnings Multiple Will Reflect Improved Margin And Revenue Assumptions

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NST
AU$24.48
Northern Star Resources
7D
11.7%
1Y
14.4%

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STO
AU$7.90
Santos
7D
-2.2%
1Y
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WDS
AU$33.28
Woodside Energy Group
7D
-4.7%
1Y
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WBC
AU$42.77
Westpac Banking
7D
7.3%
1Y
42.4%

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GMG
AU$27.97
Goodman Group
7D
7.2%
1Y
1.9%

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AU$7.22
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7D
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1Y
47.6%