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Australian (ASX) Market Analysis & Valuation

UpdatedJun 18, 2026
DataAggregated Company Financials
Companies1571
  • 7D3.7%
  • 3M5.4%
  • 1Y4.4%
  • YTD1.3%

The market has climbed 3.7% in the last 7 days, lead by the Materials sector with a gain of 10%. Meanwhile, the Energy sector has underperformed, shrinking 5.4% in that time. In the last year, the market has climbed 4.4%. 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, 18 Jun 2026AU$3.0tAU$1.2tAU$114.0b17.6x26.3x2.5x
Sat, 16 May 2026AU$2.9tAU$1.2tAU$113.5b17.2x25.5x2.4x
Mon, 13 Apr 2026AU$3.0tAU$1.2tAU$113.7b17.4x26.3x2.5x
Wed, 11 Mar 2026AU$2.9tAU$1.2tAU$110.7b19.2x26.4x2.4x
Fri, 06 Feb 2026AU$3.0tAU$1.2tAU$108.4b21.1x27.8x2.5x
Sun, 04 Jan 2026AU$3.0tAU$1.2tAU$109.7b21.7x27.1x2.5x
Tue, 02 Dec 2025AU$2.9tAU$1.2tAU$110.2b21.2x26.4x2.4x
Thu, 30 Oct 2025AU$3.0tAU$1.2tAU$110.2b21.5x27.4x2.5x
Sat, 27 Sep 2025AU$3.0tAU$1.2tAU$111.2b20.9x26.7x2.5x
Mon, 25 Aug 2025AU$3.0tAU$1.2tAU$107.3b19.3x28.2x2.5x
Wed, 23 Jul 2025AU$2.9tAU$1.2tAU$102.5b19x28.5x2.4x
Fri, 20 Jun 2025AU$2.8tAU$1.2tAU$102.9b17.9x27.7x2.3x
Sun, 18 May 2025AU$2.8tAU$1.2tAU$103.0b17.9x27.1x2.3x
Tue, 15 Apr 2025AU$2.6tAU$1.2tAU$104.9b17.2x24.6x2.1x
Thu, 13 Mar 2025AU$2.6tAU$1.2tAU$104.9b17.7x24.7x2.1x
Sat, 08 Feb 2025AU$2.8tAU$1.2tAU$91.4b19.7x30.8x2.4x
Mon, 06 Jan 2025AU$2.7tAU$1.2tAU$90.1b20x30.3x2.3x
Wed, 04 Dec 2024AU$2.8tAU$1.2tAU$88.4b20.1x31.7x2.4x
Fri, 01 Nov 2024AU$2.7tAU$1.2tAU$88.5b19.6x30.5x2.3x
Sun, 29 Sep 2024AU$2.7tAU$1.2tAU$87.0b19.7x31.2x2.4x
Tue, 27 Aug 2024AU$2.7tAU$1.2tAU$86.9b19.5x30.7x2.3x
Thu, 25 Jul 2024AU$2.6tAU$1.2tAU$91.6b19.3x28.9x2.3x
Sat, 22 Jun 2024AU$2.6tAU$1.2tAU$92.1b18.8x28.2x2.2x
Mon, 20 May 2024AU$2.6tAU$1.2tAU$92.3b19.4x28.2x2.2x
Wed, 17 Apr 2024AU$2.6tAU$1.2tAU$95.8b19.9x27x2.2x
Fri, 15 Mar 2024AU$2.6tAU$1.2tAU$96.2b19.6x26.8x2.2x
Sun, 11 Feb 2024AU$2.5tAU$1.2tAU$119.1b19.1x21.4x2.2x
Tue, 09 Jan 2024AU$2.5tAU$1.2tAU$114.8b18.5x21.7x2.1x
Thu, 07 Dec 2023AU$2.4tAU$1.2tAU$116.3b18x20.6x2x
Sat, 04 Nov 2023AU$2.4tAU$1.2tAU$118.1b17.8x19.9x2x
Mon, 02 Oct 2023AU$2.4tAU$1.2tAU$119.3b18.2x20x2x
Wed, 30 Aug 2023AU$2.4tAU$1.2tAU$121.8b17.6x19.9x2x
Fri, 28 Jul 2023AU$2.5tAU$1.2tAU$144.2b16.8x17.4x2.2x
Sun, 25 Jun 2023AU$2.4tAU$1.2tAU$145.3b15.9x16.3x2x
Price to Earnings Ratio

16.3x


Total Market Cap: AU$2.4tTotal Earnings: AU$145.3bTotal 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 7.8% 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 Market3.70%
Materials10.19%
Real Estate3.49%
Consumer Discretionary3.01%
Healthcare2.72%
Financials2.37%
Industrials1.30%
Tech0.68%
Consumer Staples-0.069%
Telecom-1.04%
Utilities-1.05%
Energy-5.35%
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 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 4.9% 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$65.047.0%
+AU$21.5b		80.0%PE22.7xMaterials
CBA Commonwealth Bank of AustraliaAU$162.233.7%
+AU$9.7b		-11.3%PB3.5xFinancials
MQG Macquarie GroupAU$252.787.2%
+AU$6.2b		18.7%PE19.7xFinancials
NAB National Australia BankAU$37.344.7%
+AU$5.1b		-4.6%PB1.9xFinancials
EVN Evolution MiningAU$13.2120.6%
+AU$4.6b		69.8%PE20.2xMaterials
See more

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4.8%
1Y
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1Y
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NST
AU$21.50
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17.4%
1Y
5.5%
BHP
AU$65.04
BHP Group
7D
7.0%
1Y
80.0%
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ANZ
AU$35.14
ANZ Group Holdings
7D
3.9%
1Y
20.6%
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ANZ (ASX:ANZ) Shares Could Be 2.6% Undervalued After Suncorp Integration And Wealth Push

ANZ Group Holdings (ASX:ANZ) is drawing fresh attention after highlighting its push into private wealth and high net worth banking, as well as the integration of Suncorp Bank and upcoming investor focused financial events. See our latest analysis for ANZ Group Holdings. Recent news around ANZ Group Holdings, including its emphasis on private wealth, the Suncorp Bank integration and upcoming dividend and trading updates, comes as the share price sits at A$34.81. Short term share price returns...
EVN
AU$13.21
Evolution Mining
7D
20.6%
1Y
69.8%
TCL
AU$14.92
Transurban Group
7D
-3.6%
1Y
2.8%
WDS
AU$28.62
Woodside Energy Group
7D
-9.2%
1Y
11.7%
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WDS: Execution Risks At LNG Projects Will Constrain Future Share Price Upside

Analysts have trimmed their price target for Woodside Energy Group by A$0.16 to A$24.57, citing small adjustments to fair value, revenue growth assumptions, and expected future P/E. Analyst Commentary Bearish analysts appear to be using the A$24.57 price target as a way to flag more measured expectations for Woodside Energy Group, rather than a high conviction bullish stance.
MQG
AU$252.78
Macquarie Group
7D
7.2%
1Y
18.7%
NAB
AU$37.34
National Australia Bank
7D
4.7%
1Y
-4.6%
CBA
AU$162.23
Commonwealth Bank of Australia
7D
3.7%
1Y
-11.3%
WHC
AU$8.11
Whitehaven Coal
7D
-9.1%
1Y
39.3%
YAL
AU$5.80
Yancoal Australia
7D
-11.9%
1Y
-3.8%
TLS
AU$5.07
Telstra Group
7D
-2.5%
1Y
3.0%
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TLS: Future Returns Will Depend On Buybacks Dividends And Sector Risk Repricing

Analysts have trimmed Telstra Group's fair value estimate slightly to A$5.27, reflecting a modestly higher discount rate and updated sector comparisons after recent software stock weakness, while still pointing to steady expectations for revenue growth, profit margins and a future P/E near 28x. Analyst Commentary Recent sector commentary on software and security-focused stocks highlights a mix of optimism about operational execution and caution around valuation for companies exposed to government and federal spending, which investors often compare to Telstra's infrastructure and service profile.
COL
AU$23.37
Coles Group
7D
-3.0%
1Y
6.3%
ALD
AU$33.36
Ampol
7D
-9.3%
1Y
28.5%