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Australian (ASX) Market Analysis & Valuation

UpdatedAug 01, 2026
DataAggregated Company Financials
Companies1569
  • 7D2.0%
  • 3M1.9%
  • 1Y2.4%
  • YTD0.9%

Over the last 7 days, the market has risen 2.0%, driven by gains of 1.4% in the Financials sector. As for last year, the market performance has been flat. As for the next few years, earnings are expected to grow by 11% 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
Sat, 01 Aug 2026AU$3.0tAU$1.2tAU$114.1b17.7x26.2x2.5x
Mon, 29 Jun 2026AU$2.9tAU$1.2tAU$114.9b17.1x25.5x2.4x
Wed, 27 May 2026AU$2.9tAU$1.2tAU$113.3b17.1x25.6x2.4x
Fri, 24 Apr 2026AU$3.0tAU$1.2tAU$113.3b17.6x26.1x2.5x
Sun, 22 Mar 2026AU$2.8tAU$1.2tAU$112.2b17.2x25.2x2.4x
Tue, 17 Feb 2026AU$3.0tAU$1.2tAU$105.9b21.2x28.4x2.5x
Thu, 15 Jan 2026AU$3.0tAU$1.2tAU$109.8b21.9x27.4x2.5x
Sat, 13 Dec 2025AU$2.9tAU$1.2tAU$109.6b21.4x26.9x2.5x
Mon, 10 Nov 2025AU$3.0tAU$1.2tAU$110.6b20.8x26.7x2.5x
Wed, 08 Oct 2025AU$3.0tAU$1.2tAU$110.4b21.2x27.5x2.5x
Fri, 05 Sep 2025AU$3.0tAU$1.2tAU$111.5b20.5x26.7x2.5x
Sun, 03 Aug 2025AU$2.9tAU$1.2tAU$103.9b18.9x28.1x2.4x
Tue, 01 Jul 2025AU$2.9tAU$1.2tAU$102.5b18.2x27.9x2.4x
Thu, 29 May 2025AU$2.8tAU$1.2tAU$102.9b17.8x27.3x2.3x
Sat, 26 Apr 2025AU$2.7tAU$1.2tAU$104.1b17.2x25.5x2.2x
Mon, 24 Mar 2025AU$2.6tAU$1.2tAU$104.8b17.6x25.2x2.2x
Wed, 19 Feb 2025AU$2.8tAU$1.2tAU$101.5b19.9x27.8x2.4x
Fri, 17 Jan 2025AU$2.7tAU$1.2tAU$90.2b19.1x30.1x2.3x
Sun, 15 Dec 2024AU$2.7tAU$1.2tAU$89.2b20.3x30.7x2.3x
Tue, 12 Nov 2024AU$2.7tAU$1.2tAU$88.1b19.5x31x2.3x
Thu, 10 Oct 2024AU$2.7tAU$1.2tAU$87.7b19.5x30.9x2.3x
Sat, 07 Sep 2024AU$2.6tAU$1.2tAU$87.8b19.1x30x2.3x
Mon, 05 Aug 2024AU$2.6tAU$1.2tAU$92.3b19.3x28.4x2.3x
Wed, 03 Jul 2024AU$2.6tAU$1.2tAU$91.9b18.9x28x2.2x
Fri, 31 May 2024AU$2.5tAU$1.2tAU$92.2b19.1x27.6x2.2x
Sun, 28 Apr 2024AU$2.5tAU$1.2tAU$91.1b19.4x27.7x2.2x
Tue, 26 Mar 2024AU$2.6tAU$1.2tAU$96.0b19.5x27x2.2x
Thu, 22 Feb 2024AU$2.5tAU$1.2tAU$104.4b18.7x24.4x2.2x
Sat, 20 Jan 2024AU$2.5tAU$1.2tAU$115.4b18.6x21.6x2.1x
Mon, 18 Dec 2023AU$2.5tAU$1.2tAU$115.3b18.4x21.6x2.1x
Wed, 15 Nov 2023AU$2.3tAU$1.2tAU$117.7b18x19.9x2x
Fri, 13 Oct 2023AU$2.4tAU$1.2tAU$119.5b17.7x20x2x
Sun, 10 Sep 2023AU$2.4tAU$1.2tAU$120.9b18x20x2x
Tue, 08 Aug 2023AU$2.5tAU$1.2tAU$146.1b16.8x16.8x2.1x
Price to Earnings Ratio

16.8x


Total Market Cap: AU$2.5tTotal Earnings: AU$146.1bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26.3x202420252026
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 26.3x.
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 Market1.96%
Tech7.18%
Consumer Discretionary4.51%
Telecom4.31%
Healthcare4.12%
Real Estate3.09%
Consumer Staples2.09%
Financials1.42%
Materials1.12%
Industrials1.04%
Utilities0.032%
Energy-0.46%
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 22.6%, 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 23% 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 4.6% 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
BHP BHP GroupAU$60.312.5%
+AU$7.4b		53.8%PE21xMaterials
CBA Commonwealth Bank of AustraliaAU$177.532.0%
+AU$5.9b		1.4%PB3.8xFinancials
CSL CSLAU$123.067.7%
+AU$4.2b		-53.4%PE29.7xHealthcare
NAB National Australia BankAU$41.332.3%
+AU$2.9b		7.5%PB2.1xFinancials
ANZ ANZ Group HoldingsAU$37.312.3%
+AU$2.5b		20.9%PB1.6xFinancials
See more

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Latest News

GMG
AU$29.77
Goodman Group
7D
4.1%
1Y
-14.1%
CBA
AU$177.53
Commonwealth Bank of Australia
7D
2.0%
1Y
1.4%
NAB
AU$41.33
National Australia Bank
7D
2.3%
1Y
7.5%
ANZ
AU$37.31
ANZ Group Holdings
7D
2.3%
1Y
20.9%
WBC
AU$37.87
Westpac Banking
7D
2.0%
1Y
13.2%
LTR
AU$0.96
Liontown
7D
-18.6%
1Y
20.6%
Narrative Update • Jul 30

LTR: Index Inclusion And Project Progress Will Support Future Re Rating

Analysts have reduced their fair value estimate for Liontown from A$2.00 to about A$1.58. This reflects updated assumptions for a slightly higher discount rate, more moderate revenue growth, lower profit margins and a modestly lower future P/E multiple.
MQG
AU$253.09
Macquarie Group
7D
-0.8%
1Y
18.4%
WHC
AU$6.98
Whitehaven Coal
7D
-9.9%
1Y
9.1%
CGF
AU$9.81
Challenger
7D
-6.0%
1Y
19.9%
New Narrative • Jul 28

Aging Population And APRA Reforms Will Support Long-Term Retirement Income Upside

Catalysts About Challenger Challenger focuses on guaranteed retirement income products and related investment and reinsurance solutions. What are the underlying business or industry changes driving this perspective?
SMR
AU$2.31
Stanmore Resources
7D
-18.9%
1Y
8.5%
Narrative Update • Jul 28

SMR: Potential Queensland Coal Acquisition Will Support A Bullish Long-Term Outlook

Analysts have raised their price target for Stanmore Resources from A$3.35 to A$3.90, citing updated assumptions for revenue growth, profit margins and a lower forecast P/E multiple. What’s in the News for Stanmore Resources No recent news stories for Stanmore Resources are available from the specified primary sources.
CSL
AU$123.06
CSL
7D
7.7%
1Y
-53.4%
STO
AU$7.84
Santos
7D
-1.6%
1Y
0%
New Narrative • Jul 25

Is Santos Cooking with Gas?

At A$9.427 per share, Santos (ASX: STO) appears reasonably valued when considering its existing operations and the expected contribution from the Barossa and Pikka projects. Santos reported 2025 revenue of US$4.9 billion, underlying profit of US$898 million and free cash flow of US$1.8 billion.
LYC
AU$14.09
Lynas Rare Earths
7D
-4.7%
1Y
30.3%
BHP
AU$60.31
BHP Group
7D
2.5%
1Y
53.8%
Narrative Update • Jul 20

BHP: Potash Overruns And Impairment Will Restrain Future Project Returns

The analyst fair value estimate for BHP Group has been raised from A$40.94 to A$43.59 as analysts recalibrate their models following a series of mixed price target revisions that reflect updated views on project capex, impairment charges, and sector risk. Analyst Commentary Recent research on BHP Group shows a mix of cautious and supportive views, with several firms adjusting price targets and ratings as new information on project spending, impairments, and macro risks has emerged.
YAL
AU$5.57
Yancoal Australia
7D
-7.9%
1Y
-10.6%
WES
AU$89.36
Wesfarmers
7D
2.4%
1Y
5.2%
Narrative Update • Jul 15

WES: Execution Discipline And Integration Plans Will Shape Future Pricing Confidence

Analysts have lifted their fair value estimate for Wesfarmers to A$89.00 from A$85.00, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations, even as some research houses flag a less favourable risk reward at current valuation levels. Analyst Commentary on Wesfarmers Recent research on Wesfarmers highlights a split in views, with some investors focusing on the raised A$89.00 fair value estimate while others point to more cautious commentary around the current share price.