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Australian (ASX) Market Analysis & Valuation

UpdatedAug 18, 2026
DataAggregated Company Financials
Companies1566
  • 7D-1.5%
  • 3M5.1%
  • 1Y0.3%
  • YTD2.4%

Over the last 7 days, the market has dropped 1.5%, driven by a decline of 2.6% in the Financials sector. Meanwhile, the Energy sector has outperformed, gaining 3.7% in that time. Overall the market has been flat in the last 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
Tue, 18 Aug 2026AU$3.0tAU$1.2tAU$115.4b17.5x26.3x2.5x
Thu, 16 Jul 2026AU$3.0tAU$1.2tAU$114.3b16.9x25.9x2.5x
Sat, 13 Jun 2026AU$2.9tAU$1.2tAU$114.0b17.3x25.8x2.4x
Mon, 11 May 2026AU$2.9tAU$1.2tAU$111.9b17.4x26.2x2.5x
Wed, 08 Apr 2026AU$2.9tAU$1.2tAU$114.4b17.3x25.5x2.4x
Fri, 06 Mar 2026AU$3.0tAU$1.2tAU$111.1b19.7x27x2.5x
Sun, 01 Feb 2026AU$3.0tAU$1.2tAU$108.3b21.5x27.8x2.5x
Tue, 30 Dec 2025AU$3.0tAU$1.2tAU$109.8b21.7x27x2.5x
Thu, 27 Nov 2025AU$2.9tAU$1.2tAU$110.6b21.5x26.4x2.4x
Sat, 25 Oct 2025AU$2.9tAU$1.2tAU$103.6b21.8x28.2x2.5x
Mon, 22 Sep 2025AU$3.0tAU$1.2tAU$110.9b20.7x26.8x2.5x
Wed, 20 Aug 2025AU$3.0tAU$1.2tAU$103.0b19x29.2x2.5x
Fri, 18 Jul 2025AU$2.9tAU$1.2tAU$102.8b18.4x28.3x2.4x
Sun, 15 Jun 2025AU$2.9tAU$1.2tAU$102.7b18.1x27.8x2.4x
Tue, 13 May 2025AU$2.8tAU$1.2tAU$103.7b17.9x26.5x2.3x
Thu, 10 Apr 2025AU$2.5tAU$1.2tAU$106.8b16.3x23x2x
Sat, 08 Mar 2025AU$2.7tAU$1.2tAU$104.8b17.8x25.3x2.2x
Mon, 03 Feb 2025AU$2.8tAU$1.2tAU$90.2b19.8x31.3x2.4x
Wed, 01 Jan 2025AU$2.7tAU$1.2tAU$90.1b19.9x30x2.3x
Fri, 29 Nov 2024AU$2.8tAU$1.2tAU$88.4b19.2x31.5x2.4x
Sun, 27 Oct 2024AU$2.7tAU$1.2tAU$88.3b19.9x30.7x2.3x
Tue, 24 Sep 2024AU$2.7tAU$1.2tAU$87.7b19.4x30.9x2.3x
Thu, 22 Aug 2024AU$2.6tAU$1.1tAU$89.3b20.1x29.6x2.3x
Sat, 20 Jul 2024AU$2.6tAU$1.2tAU$91.2b19.2x29x2.3x
Mon, 17 Jun 2024AU$2.6tAU$1.2tAU$92.4b18.9x27.9x2.2x
Wed, 15 May 2024AU$2.6tAU$1.2tAU$93.1b19.6x27.7x2.2x
Fri, 12 Apr 2024AU$2.6tAU$1.2tAU$95.1b20.4x27.4x2.2x
Sun, 10 Mar 2024AU$2.6tAU$1.2tAU$96.5b19.6x27.2x2.2x
Tue, 06 Feb 2024AU$2.5tAU$1.2tAU$118.2b19x21.5x2.2x
Thu, 04 Jan 2024AU$2.5tAU$1.2tAU$115.1b18.8x22x2.2x
Sat, 02 Dec 2023AU$2.4tAU$1.2tAU$115.9b18x20.4x2x
Mon, 30 Oct 2023AU$2.3tAU$1.2tAU$119.8b17.4x19.2x1.9x
Wed, 27 Sep 2023AU$2.4tAU$1.2tAU$120.3b17.7x19.8x2x
Fri, 25 Aug 2023AU$2.4tAU$1.2tAU$124.6b17.4x19.4x2.1x
Price to Earnings Ratio

19.4x


Total Market Cap: AU$2.4tTotal Earnings: AU$124.6bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26.5x202420252026
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 26.5x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 2.5% 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 Market-1.48%
Utilities6.87%
Energy3.71%
Tech2.30%
Healthcare0.29%
Materials-0.60%
Consumer Staples-1.37%
Telecom-2.10%
Industrials-2.56%
Financials-2.58%
Real Estate-3.09%
Consumer Discretionary-4.49%
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 22.9%, which is higher than its past year's earnings growth of 13.5% 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 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
CSL CSLAU$157.8214.1%
+AU$9.3b		-30.0%PS3.4xHealthcare
ANZ ANZ Group HoldingsAU$37.682.9%
+AU$3.2b		15.0%PB1.6xFinancials
HGO Hillgrove ResourcesAU$0.931,309.1%
+AU$3.1b		2,483.3%PE35687.4xMaterials
ORG Origin EnergyAU$12.1110.7%
+AU$2.0b		-5.6%PE13.2xUtilities
PME Pro MedicusAU$196.757.9%
+AU$1.5b		-38.1%PE87.6xHealthcare
See more

Market Insights

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Latest News

CSL
AU$157.82
CSL
7D
14.1%
1Y
-30.0%
PME
AU$196.75
Pro Medicus
7D
7.9%
1Y
-38.1%
NAB
AU$39.20
National Australia Bank
7D
-5.0%
1Y
-3.3%
HGO
AU$0.93
Hillgrove Resources
7D
1,309.1%
1Y
2,483.3%
WBC
AU$34.66
Westpac Banking
7D
-2.9%
1Y
-7.1%
New Narrative • Aug 16

Customer Relationship Deepening And Productivity Gains Will Drive Long-Term Upside Potential

Catalysts About Westpac Banking Westpac Banking is a major Australasian bank providing consumer, business and institutional banking, wealth and financial services. What are the underlying business or industry changes driving this perspective?
WES
AU$84.22
Wesfarmers
7D
-5.8%
1Y
-6.5%
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.
CBA
AU$162.63
Commonwealth Bank of Australia
7D
-6.5%
1Y
-4.9%
ORG
AU$12.11
Origin Energy
7D
10.7%
1Y
-5.6%
CPU
AU$39.69
Computershare
7D
-6.6%
1Y
2.5%
TLS
AU$4.74
Telstra Group
7D
-4.8%
1Y
-4.0%
ANZ
AU$37.68
ANZ Group Holdings
7D
2.9%
1Y
15.0%
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.
TCL
AU$13.91
Transurban Group
7D
-4.3%
1Y
-0.6%
PLS
AU$4.93
PLS Group
7D
5.3%
1Y
116.2%
Narrative Update • Aug 12

PLS: P2000 Expansion Will Support Stronger Future Lithium Pricing

Analysts have reduced their price target on PLS Group to A$7.10 from A$7.30. This change reflects updated assumptions that include a slightly higher discount rate, expectations for stronger revenue growth, a lower profit margin, and a modestly reduced future P/E multiple.
MQG
AU$255.42
Macquarie Group
7D
-3.1%
1Y
16.8%
WTC
AU$43.35
WiseTech Global
7D
6.1%
1Y
-62.3%
Narrative Update • Aug 04

WTC: Execution Discipline And Cash Flow Conversion Will Support Recovery Potential

Analysts have reduced their WiseTech Global price target to about A$65.71 from roughly A$69.51, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent changes to the WiseTech Global price target sit within a broader pattern of analysts reassessing assumptions on growth, profitability and valuation multiples.
GMG
AU$30.47
Goodman Group
7D
1.7%
1Y
-15.0%