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Australian (ASX) Market Analysis & Valuation

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies1568
  • 7D-1.8%
  • 3M2.8%
  • 1Y1.8%
  • YTD-1.1%

Over the last 7 days, the market has dropped 1.8%, driven by a loss of 8.4% in the Materials sector. Meanwhile, the Healthcare sector has outperformed, gaining 5.2% in that time. Although the market performance has been flat 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
Fri, 26 Jun 2026AU$2.9tAU$1.2tAU$114.9b16.7x25.5x2.4x
Sun, 24 May 2026AU$2.9tAU$1.2tAU$113.5b17.1x25.6x2.4x
Tue, 21 Apr 2026AU$3.0tAU$1.2tAU$113.3b17.7x26.5x2.5x
Thu, 19 Mar 2026AU$2.9tAU$1.2tAU$112.0b17.6x25.9x2.4x
Sat, 14 Feb 2026AU$3.0tAU$1.2tAU$106.1b20.7x28.3x2.5x
Mon, 12 Jan 2026AU$3.0tAU$1.2tAU$109.7b21.8x27.1x2.5x
Wed, 10 Dec 2025AU$2.9tAU$1.2tAU$109.7b21.1x26.5x2.4x
Fri, 07 Nov 2025AU$3.0tAU$1.2tAU$110.7b21.1x26.9x2.5x
Sun, 05 Oct 2025AU$3.0tAU$1.2tAU$110.4b21.2x27.5x2.5x
Tue, 02 Sep 2025AU$3.0tAU$1.2tAU$111.4b20.4x27.1x2.5x
Thu, 31 Jul 2025AU$2.9tAU$1.2tAU$102.9b19.2x28.7x2.4x
Sat, 28 Jun 2025AU$2.9tAU$1.2tAU$102.4b18.3x27.8x2.4x
Mon, 26 May 2025AU$2.8tAU$1.2tAU$102.4b18x27.3x2.3x
Wed, 23 Apr 2025AU$2.6tAU$1.2tAU$104.1b16.8x25x2.1x
Fri, 21 Mar 2025AU$2.6tAU$1.2tAU$105.0b17.7x25.1x2.2x
Sun, 16 Feb 2025AU$2.8tAU$1.2tAU$94.6b19.7x29.9x2.4x
Tue, 14 Jan 2025AU$2.7tAU$1.2tAU$90.4b19.1x29.9x2.3x
Thu, 12 Dec 2024AU$2.8tAU$1.2tAU$89.2b20.3x30.9x2.3x
Sat, 09 Nov 2024AU$2.7tAU$1.2tAU$88.6b19.6x30.9x2.4x
Mon, 07 Oct 2024AU$2.7tAU$1.2tAU$87.3b19.5x30.9x2.3x
Wed, 04 Sep 2024AU$2.7tAU$1.2tAU$87.8b19.7x30.4x2.3x
Fri, 02 Aug 2024AU$2.7tAU$1.2tAU$92.3b19.4x29x2.3x
Sun, 30 Jun 2024AU$2.6tAU$1.2tAU$91.8b19.1x28.2x2.2x
Tue, 28 May 2024AU$2.6tAU$1.2tAU$91.8b19.6x28.2x2.2x
Thu, 25 Apr 2024AU$2.6tAU$1.2tAU$95.5b19.8x26.9x2.2x
Sat, 23 Mar 2024AU$2.6tAU$1.2tAU$96.0b19.5x27x2.2x
Mon, 19 Feb 2024AU$2.6tAU$1.2tAU$114.7b19.1x22.3x2.2x
Wed, 17 Jan 2024AU$2.5tAU$1.2tAU$115.4b18.6x21.5x2.1x
Fri, 15 Dec 2023AU$2.4tAU$1.2tAU$115.2b18.2x21x2.1x
Sun, 12 Nov 2023AU$2.3tAU$1.2tAU$118.4b17.6x19.7x2x
Tue, 10 Oct 2023AU$2.4tAU$1.2tAU$119.6b17.7x19.7x2x
Thu, 07 Sep 2023AU$2.4tAU$1.2tAU$120.7b18.2x20.3x2.1x
Sat, 05 Aug 2023AU$2.5tAU$1.2tAU$146.2b16.8x16.8x2.1x
Mon, 03 Jul 2023AU$2.4tAU$1.2tAU$145.4b16.4x16.6x2.1x
Price to Earnings Ratio

16.6x


Total Market Cap: AU$2.4tTotal Earnings: AU$145.4bTotal 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 7.6% 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-1.83%
Healthcare5.16%
Consumer Discretionary3.82%
Consumer Staples2.83%
Industrials0.77%
Real Estate0.53%
Utilities0.45%
Financials0.10%
Telecom-1.83%
Tech-3.79%
Energy-4.44%
Materials-8.42%
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 4.7% 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
WES WesfarmersAU$90.745.8%
+AU$5.7b		7.9%PE33.6xConsumer Discretionary
WOW Woolworths GroupAU$40.245.0%
+AU$2.3b		29.2%PE82.2xConsumer Staples
ALL Aristocrat LeisureAU$58.696.8%
+AU$2.3b		-8.8%PE24xConsumer Discretionary
JHX James Hardie IndustriesAU$37.478.7%
+AU$1.7b		-3.8%PE144xMaterials
PME Pro MedicusAU$188.889.3%
+AU$1.7b		-32.7%PE84.1xHealthcare
See more

Market Insights

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Latest News

TLS
AU$5.15
Telstra Group
7D
2.0%
1Y
6.8%
Narrative Update • Jun 25

TLS: Future Returns Will Rely On Buybacks Dividends And Pricing Power

Analysts have nudged their fair value estimate for Telstra Group slightly higher to about A$5.28 from A$5.27, reflecting updated assumptions around discount rates, margin potential and longer term valuation that align with a recent Neutral initiation carrying a A$5.50 price target. What’s in the News for Telstra Group Telstra Group reported an 8.1% change in underlying NPAT for the first half of FY2026, alongside higher interim dividends, as part of its Connected Future 30 plan, according to recent earnings coverage.
QBE
AU$24.84
QBE Insurance Group
7D
3.2%
1Y
7.0%
PLS
AU$5.04
PLS Group
7D
-14.3%
1Y
266.5%
JHX
AU$37.47
James Hardie Industries
7D
8.7%
1Y
-3.8%
Narrative Update • Jun 24

JHX: Conservative Outlook And End-Market Noise Will Shape Future P/E Repricing

Analysts have trimmed their price target for James Hardie Industries to A$36.41 from A$40.91, citing a more cautious view on growth assumptions and end-market noise highlighted in recent research. Analyst Commentary Recent research on James Hardie Industries points to a more cautious stance on the stock, with the latest A$36.41 price target reflecting what analysts see as a mix of solid company fundamentals and a noisier end market that complicates the growth outlook.
MIN
AU$63.14
Mineral Resources
7D
-8.7%
1Y
197.5%
WES
AU$90.74
Wesfarmers
7D
5.8%
1Y
7.9%
FMG
AU$19.07
Fortescue
7D
-3.4%
1Y
23.4%
Narrative Update • Jun 24

FMG: Green Shipping Plans And Native Title Ruling Will Shape Future Returns

Fortescue's analyst price target has been revised slightly higher to A$19.23 from A$18.91. Analysts point to modest tweaks in the discount rate, long term revenue and margin assumptions, as well as a lower future P/E multiple in their updated models.
SGH
AU$46.49
SGH
7D
7.4%
1Y
-13.2%
Narrative Update • Jun 23

SGH: Future Crux Cashflows And Buyback Plan Balance Sector Risks

Analysts have trimmed their fair value estimate for SGH to about A$49 from roughly A$51, reflecting slightly higher perceived risk and a modestly lower future P/E assumption, even as they factor in stronger revenue growth supported by new coverage and expectations for meaningful cashflow from the Crux project from FY29/30 onwards. Analyst Commentary Recent research on SGH highlights a mix of optimism around long term project cashflows and caution on nearer term sector conditions.
WTC
AU$31.55
WiseTech Global
7D
-14.5%
1Y
-71.0%
Narrative Update • Jun 23

WTC: AI Restructuring And Reaffirmed 2026 Guidance Will Underpin Recovery Potential

Analysts have nudged their WiseTech Global fair value estimate higher to about A$75.22 from roughly A$74.50, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E as the basis for the refined price target. Analyst Commentary Recent commentary around WiseTech Global points to a mixed but engaged analyst community, with views clustering around how sustainable the company’s growth assumptions and margin profile may be and how that should feed into fair value.
BHP
AU$58.99
BHP Group
7D
-3.9%
1Y
57.2%
Narrative Update • Jun 22

BHP: Copper Strength And Jansen Risks Will Shape Fairly Valued Outlook

The analyst price target for BHP Group has been revised higher to A$61.02 from A$55.62, as analysts incorporate updated assumptions around revenue growth, profit margins, and a slightly lower discount rate, despite mixed reactions to the Jansen Potash capex increase and related impairment. Analyst Commentary Recent research on BHP Group shows a split view, with some bullish analysts focusing on long term growth optionality and others highlighting execution risks and valuation constraints after the Jansen Potash updates.
CAR
AU$24.50
CAR Group
7D
-11.6%
1Y
-34.5%
Narrative Update • Jun 22

CAR: Stable Forecast Assumptions Will Support Future Bullish Earnings Confidence

Analysts have left their A$33.93 price target for CAR Group unchanged, pointing to only marginal tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions that together do not materially alter their view on the stock. What’s in the News for CAR Group No recent CAR Group specific news items were identified in the primary news feed.
WDS
AU$27.65
Woodside Energy Group
7D
-4.8%
1Y
16.6%
PME
AU$188.88
Pro Medicus
7D
9.3%
1Y
-32.7%
ALL
AU$58.69
Aristocrat Leisure
7D
6.8%
1Y
-8.8%
WOW
AU$40.24
Woolworths Group
7D
5.0%
1Y
29.2%
Narrative Update • Jun 12

WOW: Cost Cuts And Modest Model Tweaks Will Shape A Steady Outlook

Analysts have made a small upward adjustment to Woolworths Group's fair value estimate, with the price target moving from A$34.80 to A$34.84 as they refresh inputs such as the discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Woolworths Group plans to offshore hundreds of corporate roles as part of a new cost-cutting program, according to recent news reports (source: recent news stories).
LNW
AU$110.78
Light & Wonder
7D
-13.7%
1Y
-24.1%