Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Market Analysis & Valuation

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies1568
  • 7D-6.4%
  • 3M-0.6%
  • 1Y7.6%
  • YTD-2.4%

Over the last 7 days, the market has dropped 6.4%, driven by a pullback of 14% in the Materials sector. In contrast, the Energy sector has actually gained 3.9%. In the last year, the market is actually up 7.6%. 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
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
Fri, 17 Mar 2023AU$2.3tAU$1.2tAU$144.2b15.9x16.2x2x
Price to Earnings Ratio

16.2x


Total Market Cap: AU$2.3tTotal Earnings: AU$144.2bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 25.1x202420252026
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 25.1x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 8.3% 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-6.36%
Energy3.90%
Tech0.69%
Telecom-0.71%
Utilities-1.99%
Healthcare-3.19%
Financials-3.56%
Consumer Staples-4.01%
Consumer Discretionary-5.88%
Real Estate-6.28%
Industrials-6.67%
Materials-14.32%
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 22.5%, 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 169x.
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 5.6% 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$139.6922.2%
+AU$2.7b		-39.1%PE62.2xHealthcare
WTC WiseTech GlobalAU$51.0815.4%
+AU$2.3b		-40.7%PE74.7xTech
REA REA GroupAU$171.165.9%
+AU$1.3b		-27.1%PE39.4xTelecom
TNE Technology OneAU$27.4410.8%
+AU$871.5m		0.7%PE65.1xTech
XRO XeroAU$83.726.2%
+AU$826.2m		-47.2%PE63.8xTech
See more

Market Insights

Header cover image
What the next 25 years will look like 🔮
Richard Bowman avatar
Richard Bowman
The first 25 years of this century were shaped by a few notable themes: China, Tech, and low interest rates. Let's now look at the themes shaping the next quarter of the century.
Continue reading
Three contrarian investing ideas for a new market

Latest News

WBC
AU$40.84
Westpac Banking
7D
-2.3%
1Y
33.1%
PME
AU$139.69
Pro Medicus
7D
22.2%
1Y
-39.1%
EVN
AU$14.15
Evolution Mining
7D
-16.1%
1Y
129.7%

EVN: Updated Commodity Assumptions And Dividend Outlook Will Support Stronger Future Profitability

Narrative Update on Evolution Mining The analyst fair value estimate for Evolution Mining has shifted from A$14.25 to A$18.25, with analysts pointing to updated commodity price decks and refreshed gold and precious metals models. These updates have also led to higher price targets in recent Street research.
BHP
AU$51.23
BHP Group
7D
-11.2%
1Y
29.2%
360
AU$22.51
Life360
7D
10.6%
1Y
7.2%
NST
AU$25.96
Northern Star Resources
7D
-15.5%
1Y
53.2%
YAL
AU$6.95
Yancoal Australia
7D
7.1%
1Y
10.8%
WTC
AU$51.08
WiseTech Global
7D
15.4%
1Y
-40.7%
CBA
AU$171.80
Commonwealth Bank of Australia
7D
-1.3%
1Y
16.9%

CBA: Elevated P/E And Margin Pressures May Cap Future Dividend Appeal

Analysts have increased their fair value estimate for Commonwealth Bank of Australia slightly to A$127.44 from A$127.23, reflecting updated assumptions for revenue, profit margins and future P/E that they consider better aligned with current conditions. Analyst Commentary Analysts describe the updated A$127.44 fair value estimate for Commonwealth Bank of Australia as a fine tuning rather than a major reset.
XRO
AU$83.72
Xero
7D
6.2%
1Y
-47.2%

XRO: Reset Expectations And AI Expansion Will Support Future Upside

Analysts have trimmed their Xero price target to about A$155 from roughly A$182, reflecting updated views on fair value, discount rate, growth, margins and future P/E that also supported a recent upgrade in Street research. Analyst Commentary Recent Street commentary around Xero has focused on how the trimmed A$155 price target lines up with updated views on valuation, growth and execution, alongside the upgrade in formal research coverage.
BXB
AU$23.18
Brambles
7D
-7.3%
1Y
12.9%

BXB: Refined Assumptions And Dividend Outlook Will Support A Steady Future

Analysts have updated their view on Brambles, increasing the price target from A$24.43 to A$25.82. This change reflects adjusted assumptions around the discount rate, profit margin, revenue growth and future P/E multiples.
NAB
AU$46.84
National Australia Bank
7D
-1.7%
1Y
37.4%

NAB: Higher Future P/E Expectations Will Likely Outpace Modest Margin Support

Narrative Update on National Australia Bank Analysts have raised their price target for National Australia Bank from A$30.00 to A$34.00, supported by updated modelling that uses a slightly lower discount rate, modestly higher revenue growth and profit margin assumptions, and a higher future P/E multiple. What’s in the News Long standing Group Executive Shaun Dooley plans to retire by the end of 2026 after a 33 year career at National Australia Bank, having served as Group Chief Risk Officer since 2018 and acting Group Chief Financial Officer since March 2025 (company event filing).
ANZ
AU$37.30
ANZ Group Holdings
7D
-5.3%
1Y
28.5%
REA
AU$171.16
REA Group
7D
5.9%
1Y
-27.1%

REA: Share Buyback And Dividend Policy Will Support Future Upside

Analysts have adjusted their fair value estimate for REA Group from A$290.00 to A$253.00, reflecting updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples following mixed recent research views. Analyst Commentary Recent research on REA Group has been mixed, with an upgrade from JPMorgan and a downgrade from another major firm occurring in close succession.
MQG
AU$198.53
Macquarie Group
7D
1.0%
1Y
-1.6%
TNE
AU$27.44
Technology One
7D
10.8%
1Y
0.7%

TNE: Higher Growth Assumptions And Margins Will Support Future Upside

Analysts have trimmed their price target on Technology One to A$32.23 from A$34.87. This reflects updated assumptions around a slightly higher discount rate, modestly stronger revenue growth at 14.47%, a marginally higher profit margin of 25.71%, and a lower future P/E of 57.47x.