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Australian (ASX) Market Analysis & Valuation

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies1570
  • 7D0.8%
  • 3M-1.8%
  • 1Y2.3%
  • YTD-0.6%

The Information Technology sector gained 8.5% while the market remained flat over the last week. Similarly, the market is flat for the past 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026AU$2.9tAU$1.2tAU$113.3b17.2x26x2.5x
Sat, 02 May 2026AU$2.9tAU$1.2tAU$112.8b17.4x26x2.5x
Mon, 30 Mar 2026AU$2.8tAU$1.2tAU$114.8b17.1x24.8x2.4x
Wed, 25 Feb 2026AU$3.0tAU$1.2tAU$111.9b20x27.2x2.6x
Fri, 23 Jan 2026AU$3.0tAU$1.2tAU$109.1b21.8x27.7x2.5x
Sun, 21 Dec 2025AU$2.9tAU$1.2tAU$109.9b21.5x26.6x2.4x
Tue, 18 Nov 2025AU$2.9tAU$1.2tAU$110.2b21.2x26.5x2.4x
Thu, 16 Oct 2025AU$3.0tAU$1.2tAU$110.6b21.3x27.6x2.5x
Sat, 13 Sep 2025AU$3.0tAU$1.2tAU$111.0b20.7x26.9x2.5x
Mon, 11 Aug 2025AU$3.0tAU$1.2tAU$104.0b19.2x28.6x2.5x
Wed, 09 Jul 2025AU$2.9tAU$1.2tAU$102.4b18.4x28.2x2.4x
Fri, 06 Jun 2025AU$2.9tAU$1.2tAU$102.5b18x27.9x2.4x
Sun, 04 May 2025AU$2.7tAU$1.2tAU$100.2b17.6x27.4x2.3x
Tue, 01 Apr 2025AU$2.6tAU$1.2tAU$105.3b17.4x24.8x2.1x
Thu, 27 Feb 2025AU$2.7tAU$1.2tAU$100.0b18.3x27.4x2.3x
Sat, 25 Jan 2025AU$2.8tAU$1.2tAU$89.5b19.3x31x2.4x
Mon, 23 Dec 2024AU$2.7tAU$1.2tAU$89.8b19.8x29.7x2.3x
Wed, 20 Nov 2024AU$2.8tAU$1.2tAU$88.3b19.7x31.3x2.4x
Fri, 18 Oct 2024AU$2.7tAU$1.2tAU$87.9b19.9x31.2x2.4x
Sun, 15 Sep 2024AU$2.7tAU$1.2tAU$88.1b19.7x30.3x2.3x
Tue, 13 Aug 2024AU$2.6tAU$1.2tAU$92.3b19.1x27.9x2.2x
Thu, 11 Jul 2024AU$2.6tAU$1.1tAU$91.0b19x28.6x2.3x
Sat, 08 Jun 2024AU$2.6tAU$1.2tAU$92.2b19.4x28.4x2.3x
Mon, 06 May 2024AU$2.5tAU$1.2tAU$93.8b19.6x27.2x2.2x
Wed, 03 Apr 2024AU$2.6tAU$1.2tAU$95.3b20.2x27.6x2.2x
Fri, 01 Mar 2024AU$2.6tAU$1.2tAU$96.5b19.5x26.7x2.2x
Sun, 28 Jan 2024AU$2.5tAU$1.2tAU$115.7b18.9x21.8x2.2x
Tue, 26 Dec 2023AU$2.5tAU$1.2tAU$114.7b18.7x22x2.2x
Thu, 23 Nov 2023AU$2.4tAU$1.2tAU$116.3b17.8x20.3x2x
Sat, 21 Oct 2023AU$2.3tAU$1.2tAU$119.9b17.6x19.4x2x
Mon, 18 Sep 2023AU$2.5tAU$1.2tAU$120.3b18.2x20.4x2.1x
Wed, 16 Aug 2023AU$2.5tAU$1.2tAU$145.0b16.8x17x2.1x
Fri, 14 Jul 2023AU$2.4tAU$1.2tAU$143.7b16.4x16.9x2.1x
Sun, 11 Jun 2023AU$2.4tAU$1.2tAU$144.8b16x16.5x2.1x
Price to Earnings Ratio

16.5x


Total Market Cap: AU$2.4tTotal Earnings: AU$144.8bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 25.9x202420252026
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 25.9x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.8% 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 Market0.79%
Tech8.53%
Materials3.24%
Energy1.36%
Industrials1.17%
Consumer Staples0.64%
Telecom0.22%
Consumer Discretionary-0.23%
Financials-0.97%
Healthcare-1.08%
Utilities-1.41%
Real Estate-1.64%
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 19.4%, which is higher than its past year's earnings growth of 10.8% 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 24% 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 5.2% 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
BHP BHP GroupAU$62.803.7%
+AU$11.4b		65.4%PE22.2xMaterials
CBA Commonwealth Bank of AustraliaAU$163.731.4%
+AU$3.9b		-9.7%PB3.5xFinancials
NST Northern Star ResourcesAU$20.3912.0%
+AU$3.1b		-3.0%PE18.8xMaterials
PME Pro MedicusAU$159.2322.3%
+AU$3.0b		-43.3%PE70.9xHealthcare
TCL Transurban GroupAU$15.003.2%
+AU$1.4b		5.0%PE97.9xIndustrials
See more

Market Insights

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Earnings Season vs. AI

Latest News

NST
AU$20.39
Northern Star Resources
7D
12.0%
1Y
-3.0%
CSL
AU$92.59
CSL
7D
-5.1%
1Y
-61.9%
WTC
AU$40.14
WiseTech Global
7D
10.4%
1Y
-62.3%
WDS
AU$31.33
Woodside Energy Group
7D
2.2%
1Y
37.9%
PME
AU$159.23
Pro Medicus
7D
22.3%
1Y
-43.3%
CBA
AU$163.73
Commonwealth Bank of Australia
7D
1.4%
1Y
-9.7%
TPG
AU$3.60
TPG Telecom
7D
-9.3%
1Y
-30.1%
FMG
AU$21.02
Fortescue
7D
-3.5%
1Y
35.7%
New Narrative • Jun 01

Decarbonization Spend And Global Expansion Will Pressure Margins And Earnings Trajectory

Catalysts About Fortescue Fortescue is a global mining group focused on iron ore, with expanding exposure to copper, critical minerals and green energy technologies. What are the underlying business or industry changes driving this perspective?
BHP
AU$62.80
BHP Group
7D
3.7%
1Y
65.4%
WBC
AU$35.24
Westpac Banking
7D
-1.9%
1Y
6.0%
TCL
AU$15.00
Transurban Group
7D
3.2%
1Y
5.0%
Narrative Update • May 26

TCL: Steady Traffic And Margins Will Support A Fairly Valued Outlook

Analysts have trimmed their price target for Transurban Group slightly to A$13.91 from A$13.94, reflecting modest adjustments to the discount rate, revenue growth outlook, profit margin assumptions and future P/E expectations. What's in the News Reported Average Daily Traffic (ADT) growth of 3.6% for March 2026, based on monthly traffic results.
ANZ
AU$34.48
ANZ Group Holdings
7D
-1.2%
1Y
16.4%
SGP
AU$3.79
Stockland
7D
-6.0%
1Y
-31.1%
Narrative Update • May 19

SGP: Confirmed 2025 Distribution Will Support Upside Under Slightly Firmer Risk Settings

Analysts have trimmed their Stockland price target slightly from A$4.99 to A$4.97, reflecting a modest recalibration of fair value, discount rate, growth and margin assumptions, while also incorporating a marginally higher future P/E multiple. Analyst Commentary Analysts’ latest work on Stockland indicates that the small shift in the price target sits within a broader debate about how much credit to give the group for execution, capital allocation and earnings resilience, especially in a mixed macro backdrop for property and interest rates.
REA
AU$157.96
REA Group
7D
6.2%
1Y
-34.4%
Narrative Update • May 17

REA: Higher Profitability Assumptions Will Support Future Rerating Potential

Analysts have adjusted the REA Group price target slightly lower to A$206.83 from A$212.09. This reflects updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples.
DXS
AU$5.36
DEXUS
7D
-9.6%
1Y
-23.4%
TLS
AU$4.97
Telstra Group
7D
-5.0%
1Y
2.5%
Narrative Update • May 05

TLS: Future Returns Will Rely On Buybacks Dividends And Risk Repricing

Analysts have trimmed their Telstra Group price targets, citing slightly higher discount rate assumptions and cautious readthrough from recent software sector weakness. Fair value, long term revenue growth, margin and P/E inputs remain broadly unchanged.