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Australian (ASX) Market Analysis & Valuation

UpdatedJun 21, 2026
DataAggregated Company Financials
Companies1568
  • 7D0.6%
  • 3M4.6%
  • 1Y3.3%
  • YTD-0.1%

Over the last 7 days, the market has remained flat, although notably the Healthcare sector gained 5.6% in that time. More promisingly, the market is up 3.3% over the past year. 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
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
Mon, 31 Jul 2023AU$2.5tAU$1.2tAU$145.4b16.9x17.1x2.1x
Wed, 28 Jun 2023AU$2.4tAU$1.2tAU$145.2b15.9x16.4x2x
Price to Earnings Ratio

16.4x


Total Market Cap: AU$2.4tTotal Earnings: AU$145.2bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26x202420252026
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 26.0x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.7% 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 Market0.56%
Healthcare5.64%
Financials1.68%
Tech1.23%
Consumer Discretionary0.66%
Industrials0.64%
Real Estate0.13%
Materials0.11%
Consumer Staples-0.31%
Telecom-1.22%
Utilities-3.52%
Energy-6.85%
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 19.8%, 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 25% 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$162.401.8%
+AU$4.8b		-11.0%PB3.5xFinancials
CSL CSLAU$116.328.2%
+AU$4.2b		-51.6%PE28xHealthcare
NAB National Australia BankAU$37.743.4%
+AU$3.8b		-3.0%PB1.9xFinancials
MQG Macquarie GroupAU$249.823.0%
+AU$2.7b		19.6%PE19.5xFinancials
ANZ ANZ Group HoldingsAU$35.032.5%
+AU$2.6b		23.4%PB1.5xFinancials
See more

Market Insights

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Latest News

WDS
AU$29.03
Woodside Energy Group
7D
-7.0%
1Y
12.3%
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TCL
AU$15.06
Transurban Group
7D
-3.5%
1Y
3.3%
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Transurban Group (ASX:TCL) Shares Could Be 17% Undervalued After M7 M12 Project Completion

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CBA
AU$162.40
Commonwealth Bank of Australia
7D
1.8%
1Y
-11.0%
CSL
AU$116.32
CSL
7D
8.2%
1Y
-51.6%
S32
AU$4.13
South32
7D
-8.6%
1Y
43.4%
Narrative Update • Jun 19

S32: Citi Upgrade And Hermosa Progress Will Shape Future Copper And Aluminium Upside

Analysts have lifted the South32 price target to A$3.20 from A$3.00, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and a revised future P/E multiple. Analyst Commentary Recent Street research on South32 highlights a series of upward price target revisions that give you a clearer view of how external specialists are thinking about the stock's valuation and execution risk.
STO
AU$7.30
Santos
7D
-9.5%
1Y
-5.2%
MQG
AU$249.82
Macquarie Group
7D
3.0%
1Y
19.6%
Narrative Update • Jun 18

MQG: Mixed Broker Views And Capital Moves Will Shape Future Repricing

Analysts have trimmed their Macquarie Group price target to A$250.14. This reflects slightly lower assumed discount rates and a marginally reduced future P/E multiple in updated models.
SIG
AU$2.76
Sigma Healthcare
7D
4.5%
1Y
-12.1%
NST
AU$20.87
Northern Star Resources
7D
8.4%
1Y
1.7%
BHP
AU$61.40
BHP Group
7D
-2.4%
1Y
69.6%
Analysis Article • Jun 17

BHP Group (ASX:BHP) Shares Could Be 46% Undervalued After Copper Growth News

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PLS
AU$5.88
PLS Group
7D
-9.8%
1Y
378.0%
Narrative Update • Jun 17

PLS: Lithium Rebound And Project Restarts Will Test Elevated P/E

Analysts have adjusted their fair value estimate for PLS Group stock to A$5.70 from A$5.55, reflecting updated assumptions about revenue growth, profit margins and future P/E expectations. What’s in the News for PLS Group PLS Group stock rose nearly 10% as lithium prices remained strong and the company moved closer to restarting its Ngungaju plant, with the restart targeted for early July 2026.
ANZ
AU$35.03
ANZ Group Holdings
7D
2.5%
1Y
23.4%
Analysis Article • Jun 16

ANZ (ASX:ANZ) Shares Could Be 2.6% Undervalued After Suncorp Integration And Wealth Push

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EVN
AU$12.54
Evolution Mining
7D
6.7%
1Y
60.4%
FMG
AU$19.75
Fortescue
7D
-2.3%
1Y
34.4%
New Narrative • Jun 15

Decarbonization And Green Metals Expansion Will Reshape Long Term Earnings Quality

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NAB
AU$37.74
National Australia Bank
7D
3.4%
1Y
-3.0%
TLS
AU$5.05
Telstra Group
7D
-2.9%
1Y
3.3%
Narrative Update • Jun 06

TLS: Future Returns Will Depend On Buybacks Dividends And Sector Risk Repricing

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