Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Market Analysis & Valuation

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies1572
  • 7D-3.2%
  • 3M-1.2%
  • 1Y11.1%
  • YTD-2.0%

Over the last 7 days, the market has dropped 3.2%, driven by a pullback of 6.3% in the Materials sector. In contrast to the last week, the market is actually up 11% 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
Sat, 14 Mar 2026AU$2.9tAU$1.2tAU$110.5b18.9x26.2x2.4x
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
Fri, 26 May 2023AU$2.4tAU$1.2tAU$146.5b16x16.4x2.1x
Sun, 23 Apr 2023AU$2.5tAU$1.2tAU$144.2b16.2x17.1x2.1x
Tue, 21 Mar 2023AU$2.2tAU$1.1tAU$133.6b15.9x16.1x2x
Price to Earnings Ratio

16.1x


Total Market Cap: AU$2.2tTotal Earnings: AU$133.6bTotal Revenue: AU$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 25.2x202420252026
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 25.2x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 6.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.0% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market-3.22%
Energy2.19%
Telecom-1.45%
Consumer Discretionary-1.64%
Financials-1.68%
Tech-2.60%
Consumer Staples-2.65%
Healthcare-2.69%
Utilities-2.89%
Industrials-4.33%
Real Estate-5.32%
Materials-6.27%
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 21.5%, which is higher than its past year's earnings growth of 14.0% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 169x.
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 5.6% 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
FMG FortescueAU$20.486.4%
+AU$3.8b		25.9%PE11.9xMaterials
LYC Lynas Rare EarthsAU$20.7012.9%
+AU$2.4b		180.5%PE253xMaterials
YAL Yancoal AustraliaAU$8.0627.3%
+AU$2.3b		51.8%PE24.2xEnergy
CBA Commonwealth Bank of AustraliaAU$173.760.7%
+AU$2.2b		22.1%PB3.8xFinancials
IAG Insurance Australia GroupAU$7.2510.4%
+AU$1.6b		-4.7%PE15.7xFinancials
See more

Market Insights

Header cover image
Why international stocks are starting to outpace the U.S.
Stella Ong avatar
Stella Ong
From Europe to Asia, global markets surged in 2025 while U.S. earnings growth became more concentrated. Early signs suggest this might continue.
Continue reading
What the next 25 years will look like 🔮

Latest News

GMG
AU$25.71
Goodman Group
7D
-7.5%
1Y
-16.6%
WHC
AU$9.35
Whitehaven Coal
7D
10.3%
1Y
68.8%
NST
AU$21.75
Northern Star Resources
7D
-19.4%
1Y
21.7%
BHP
AU$49.80
BHP Group
7D
-5.7%
1Y
28.8%
LYC
AU$20.70
Lynas Rare Earths
7D
12.9%
1Y
180.5%
CSL
AU$141.03
CSL
7D
-3.6%
1Y
-43.6%

CSL: Manufacturing Expansion And Leadership Transition Will Support Future Share Recovery

Analysts have trimmed their CSL price target by about A$6 to reflect slightly lower long term fair value estimates, modestly higher discount rates and more conservative assumptions for revenue growth and profit margins, partially offset by a higher future P/E multiple. Analyst Commentary Recent Street research around CSL points to a mixed setup, with some firms taking a more constructive stance and others turning cautious.
FMG
AU$20.48
Fortescue
7D
6.4%
1Y
25.9%

FMG: Sector Commodity Reset Will Shape Fair Value And Dividend Outlook

Analysts have trimmed their price target on Fortescue to A$17.20 from A$18.40, reflecting updated commodity price assumptions and a view that softer revenue growth and profit margins, together with a higher future P/E and discount rate, temper the upside case for the shares. Analyst Commentary Recent research updates on Fortescue point to a more cautious stance, with analysts recalibrating their views after revising long term commodity price assumptions and sector wide expectations for Australian metals and mining names.
EVN
AU$13.51
Evolution Mining
7D
-8.7%
1Y
99.9%

EVN: Updated Commodity Assumptions And Dividend Outlook Will Support Stronger Future Profitability

Narrative Update on Evolution Mining The analyst fair value estimate for Evolution Mining has shifted from A$14.25 to A$18.25, with analysts pointing to updated commodity price decks and refreshed gold and precious metals models. These updates have also led to higher price targets in recent Street research.
JHX
AU$28.28
James Hardie Industries
7D
-10.5%
1Y
-43.6%
YAL
AU$8.06
Yancoal Australia
7D
27.3%
1Y
51.8%
CBA
AU$173.76
Commonwealth Bank of Australia
7D
0.7%
1Y
22.1%

CBA: Elevated P/E And Margin Pressures May Cap Future Dividend Appeal

Analysts have increased their fair value estimate for Commonwealth Bank of Australia slightly to A$127.44 from A$127.23, reflecting updated assumptions for revenue, profit margins and future P/E that they consider better aligned with current conditions. Analyst Commentary Analysts describe the updated A$127.44 fair value estimate for Commonwealth Bank of Australia as a fine tuning rather than a major reset.
IAG
AU$7.25
Insurance Australia Group
7D
10.4%
1Y
-4.7%

IAG: Share Buyback And Stable Margin Outlook Will Support Upside

Analysts have lifted their price target for Insurance Australia Group to A$8.23, reflecting updated assumptions for revenue, profit margin and forward P/E that remain broadly consistent with prior estimates. What's in the News The board authorized a new share buyback plan on February 12, 2026, indicating approval for capital to be directed to repurchasing shares (Key Developments).
BXB
AU$22.33
Brambles
7D
-8.5%
1Y
10.1%

BXB: Refined Assumptions And Dividend Outlook Will Support A Steady Future

Analysts have updated their view on Brambles, increasing the price target from A$24.43 to A$25.82. This change reflects adjusted assumptions around the discount rate, profit margin, revenue growth and future P/E multiples.
NAB
AU$47.11
National Australia Bank
7D
0.6%
1Y
41.5%

NAB: Higher Future P/E Expectations Will Likely Outpace Modest Margin Support

Narrative Update on National Australia Bank Analysts have raised their price target for National Australia Bank from A$30.00 to A$34.00, supported by updated modelling that uses a slightly lower discount rate, modestly higher revenue growth and profit margin assumptions, and a higher future P/E multiple. What’s in the News Long standing Group Executive Shaun Dooley plans to retire by the end of 2026 after a 33 year career at National Australia Bank, having served as Group Chief Risk Officer since 2018 and acting Group Chief Financial Officer since March 2025 (company event filing).
SUN
AU$15.62
Suncorp Group
7D
8.5%
1Y
-16.3%

SUN: Upgraded Buy Rating And Dividend Outlook Will Support Future Confidence

Analysts have trimmed their fair value estimate for Suncorp Group from A$19.14 to A$18.21, citing updated assumptions on revenue growth, profit margins and future P/E, even as recent research highlights what is seen as a compelling valuation at current share levels. Analyst Commentary Recent research updates on Suncorp Group reflect a mix of optimism on valuation and caution around execution, which helps explain why some fair value estimates have been trimmed even as others see room for upside.
SIG
AU$2.64
Sigma Healthcare
7D
-7.4%
1Y
-8.3%