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Australian (ASX) Market Analysis & Valuation

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies1571
  • 7D1.0%
  • 3M-5.1%
  • 1Y3.1%
  • YTD-1.1%

The Consumer Discretionary sector gained 4.3% while the market remained flat over the last week. Meanwhile, the market is actually up 3.1% over the past 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, 02 Jun 2026AU$2.9tAU$1.2tAU$113.3b17.3x25.9x2.4x
Thu, 30 Apr 2026AU$2.9tAU$1.2tAU$113.1b17.2x25.8x2.4x
Sat, 28 Mar 2026AU$2.8tAU$1.2tAU$114.7b17.1x24.8x2.4x
Mon, 23 Feb 2026AU$3.1tAU$1.2tAU$111.7b20.3x27.4x2.6x
Wed, 21 Jan 2026AU$3.0tAU$1.2tAU$109.5b21.8x27.5x2.5x
Fri, 19 Dec 2025AU$2.9tAU$1.2tAU$110.0b21.3x26.5x2.4x
Sun, 16 Nov 2025AU$2.9tAU$1.2tAU$110.1b21.1x26.5x2.4x
Tue, 14 Oct 2025AU$3.0tAU$1.2tAU$110.9b21x27.1x2.5x
Thu, 11 Sep 2025AU$3.0tAU$1.2tAU$111.2b20.5x26.8x2.5x
Sat, 09 Aug 2025AU$3.0tAU$1.2tAU$103.6b19.2x28.7x2.5x
Mon, 07 Jul 2025AU$2.9tAU$1.2tAU$102.3b18.4x28.2x2.4x
Wed, 04 Jun 2025AU$2.8tAU$1.2tAU$102.9b18x27.5x2.3x
Fri, 02 May 2025AU$2.7tAU$1.2tAU$100.7b17.6x26.9x2.3x
Sun, 30 Mar 2025AU$2.7tAU$1.2tAU$104.7b17.6x25.4x2.2x
Tue, 25 Feb 2025AU$2.8tAU$1.2tAU$99.1b18.8x27.9x2.3x
Thu, 23 Jan 2025AU$2.8tAU$1.2tAU$89.7b19.3x31x2.4x
Sat, 21 Dec 2024AU$2.7tAU$1.2tAU$89.9b19.8x29.6x2.3x
Mon, 18 Nov 2024AU$2.7tAU$1.2tAU$88.3b19.6x31x2.3x
Wed, 16 Oct 2024AU$2.8tAU$1.2tAU$87.8b19.8x31.4x2.4x
Fri, 13 Sep 2024AU$2.7tAU$1.2tAU$88.1b19.5x30.2x2.3x
Sun, 11 Aug 2024AU$2.6tAU$1.2tAU$92.4b18.9x27.7x2.2x
Tue, 09 Jul 2024AU$2.6tAU$1.2tAU$91.2b19x28.4x2.2x
Thu, 06 Jun 2024AU$2.6tAU$1.2tAU$92.3b19.5x28.1x2.2x
Sat, 04 May 2024AU$2.5tAU$1.2tAU$94.1b19.6x27.1x2.2x
Mon, 01 Apr 2024AU$2.6tAU$1.2tAU$95.3b20.2x27.7x2.2x
Wed, 28 Feb 2024AU$2.6tAU$1.2tAU$95.6b19.5x26.8x2.2x
Fri, 26 Jan 2024AU$2.5tAU$1.2tAU$115.6b18.9x21.9x2.2x
Sun, 24 Dec 2023AU$2.5tAU$1.2tAU$114.6b18.7x22x2.2x
Tue, 21 Nov 2023AU$2.4tAU$1.2tAU$116.4b18.2x20.3x2x
Thu, 19 Oct 2023AU$2.4tAU$1.2tAU$119.4b17.7x20x2x
Sat, 16 Sep 2023AU$2.4tAU$1.2tAU$120.3b18.2x20.1x2x
Mon, 14 Aug 2023AU$2.5tAU$1.2tAU$145.3b16.9x17x2.1x
Wed, 12 Jul 2023AU$2.4tAU$1.2tAU$145.5b16.2x16.4x2.1x
Fri, 09 Jun 2023AU$2.4tAU$1.2tAU$145.3b16.1x16.3x2x
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 25.8x202420252026
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 25.8x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.9% 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 Market0.98%
Consumer Discretionary4.32%
Materials3.51%
Tech2.47%
Industrials2.28%
Real Estate2.25%
Consumer Staples0.72%
Healthcare0.17%
Financials-1.13%
Utilities-1.61%
Telecom-2.47%
Energy-2.86%
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 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 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$62.483.9%
+AU$12.0b		65.4%PE22.2xMaterials
WES WesfarmersAU$79.755.2%
+AU$4.5b		-4.4%PE29.6xConsumer Discretionary
GMG Goodman GroupAU$31.715.5%
+AU$3.4b		-2.8%PB2.7xReal Estate
FMG FortescueAU$22.513.0%
+AU$2.0b		50.1%PE13.3xMaterials
PME Pro MedicusAU$144.4613.7%
+AU$1.8b		-48.7%PE64.3xHealthcare
See more

Market Insights

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Earnings Season vs. AI

Latest News

NST
AU$18.51
Northern Star Resources
7D
-7.0%
1Y
-11.4%
PLS
AU$6.74
PLS Group
7D
4.8%
1Y
491.2%
PME
AU$144.46
Pro Medicus
7D
13.7%
1Y
-48.7%
BHP
AU$62.48
BHP Group
7D
3.9%
1Y
65.4%
S32
AU$4.74
South32
7D
7.2%
1Y
61.2%
GMG
AU$31.71
Goodman Group
7D
5.5%
1Y
-2.8%
WBC
AU$36.15
Westpac Banking
7D
-1.7%
1Y
12.3%
CSL
AU$94.20
CSL
7D
-4.3%
1Y
-62.0%
Narrative Update • May 27

CSL: U.S. Capacity Expansion Will Support Long Term Earnings Power

Analysts have revised CSL's fair value estimate down from A$195.41 to A$146.21. This reflects updated views on slightly higher discount rates, more moderate revenue growth, softer profit margins and a lower assumed future P/E multiple.
ASX
AU$47.31
ASX
7D
-19.6%
1Y
-34.3%
FMG
AU$22.51
Fortescue
7D
3.0%
1Y
50.1%
JHX
AU$32.27
James Hardie Industries
7D
9.8%
1Y
-10.2%
Narrative Update • May 26

JHX: Conservative Outlook And Higher Margins Will Support Future Rerating Potential

Analysts have trimmed their fair value estimate for James Hardie Industries from A$45.25 to A$42.91, pointing to lower assumed revenue growth, a reduced future P/E of 23.37 and recent price target cuts such as Barclays moving to A$21, even though updated forecasts incorporate a higher profit margin and a slightly lower discount rate. Analyst Commentary Recent research points to a more cautious stance on James Hardie Industries as some analysts factor in a challenged end market and cut price targets, such as the move to A$21 from A$22.
ANZ
AU$35.05
ANZ Group Holdings
7D
-2.0%
1Y
20.9%
CBA
AU$163.30
Commonwealth Bank of Australia
7D
-0.8%
1Y
-7.4%
NAB
AU$37.37
National Australia Bank
7D
-2.4%
1Y
-1.0%
WES
AU$79.75
Wesfarmers
7D
5.2%
1Y
-4.4%
TLS
AU$5.16
Telstra Group
7D
-3.2%
1Y
7.1%
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.