Analysis Article • Sep 18
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Hong Kong (HSI) Medical Equipment Industry Analysis
UpdatedSep 19, 2026
DataAggregated Company Financials
Companies42
- 7D-2.1%
- 3M1.4%
- 1Y-30.2%
- YTD-18.0%
Over the last 7 days, the Medical Equipment industry has dropped 2.1%, driven by Hangzhou Diagens Biotechnology declining 9.0%. Meanwhile, Modern Dental Group actually outperformed within the industry, gaining 6.2% in the last week. The industry has fallen 30% in the last year. As for the next few years, earnings are expected to grow by 48% per annum.
Industry Valuation and Performance
Has the Hong Kong Medical Equipment Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 20 Sep 2026 | HK$229.7b | HK$72.3b | HK$4.8b | 17x | 47.5x | 3.2x |
| Tue, 18 Aug 2026 | HK$254.3b | HK$68.2b | HK$4.8b | 14.2x | 53.4x | 3.7x |
| Thu, 16 Jul 2026 | HK$239.5b | HK$67.8b | HK$4.8b | 16x | 50x | 3.5x |
| Sat, 13 Jun 2026 | HK$218.7b | HK$67.8b | HK$4.9b | 16x | 44.6x | 3.2x |
| Mon, 11 May 2026 | HK$254.6b | HK$66.2b | HK$2.5b | 16.1x | 101.4x | 3.8x |
| Wed, 08 Apr 2026 | HK$215.5b | HK$65.6b | HK$2.5b | 17.3x | 84.6x | 3.3x |
| Fri, 06 Mar 2026 | HK$224.8b | HK$63.9b | HK$2.4b | 16.1x | 94.6x | 3.5x |
| Sun, 01 Feb 2026 | HK$243.3b | HK$63.4b | HK$2.3b | 18.9x | 104.3x | 3.8x |
| Tue, 30 Dec 2025 | HK$203.2b | HK$62.5b | HK$2.5b | 19.7x | 81.3x | 3.2x |
| Thu, 27 Nov 2025 | HK$210.3b | HK$63.3b | HK$3.1b | 19.3x | 68.1x | 3.3x |
| Sat, 25 Oct 2025 | HK$220.8b | HK$62.8b | HK$3.0b | 20.7x | 74.5x | 3.5x |
| Mon, 22 Sep 2025 | HK$227.6b | HK$62.9b | HK$3.0b | 21.1x | 76.7x | 3.6x |
| Wed, 20 Aug 2025 | HK$235.0b | HK$61.8b | HK$3.3b | 25.5x | 71x | 3.8x |
| Fri, 18 Jul 2025 | HK$202.0b | HK$62.0b | HK$3.2b | 19.6x | 62.7x | 3.3x |
| Sun, 15 Jun 2025 | HK$185.2b | HK$62.0b | HK$3.2b | 22.7x | 57.5x | 3x |
| Tue, 13 May 2025 | HK$169.8b | HK$61.4b | HK$3.2b | 21.4x | 53.3x | 2.8x |
| Thu, 10 Apr 2025 | HK$150.0b | HK$60.4b | HK$3.1b | 20.1x | 48.5x | 2.5x |
| Sat, 08 Mar 2025 | HK$167.8b | HK$58.0b | HK$1.2b | 20.9x | 143.1x | 2.9x |
| Mon, 03 Feb 2025 | HK$146.5b | HK$58.2b | HK$1.2b | 18.5x | 121.8x | 2.5x |
| Wed, 01 Jan 2025 | HK$138.2b | HK$57.7b | HK$1.2b | 17.2x | 117.4x | 2.4x |
| Fri, 29 Nov 2024 | HK$131.1b | HK$58.2b | HK$1.2b | 15.8x | 109x | 2.3x |
| Sun, 27 Oct 2024 | HK$138.6b | HK$58.9b | HK$1.3b | 14.2x | 102.9x | 2.4x |
| Tue, 24 Sep 2024 | HK$122.0b | HK$59.4b | HK$1.3b | 12.2x | 92.8x | 2.1x |
| Thu, 22 Aug 2024 | HK$116.0b | HK$54.9b | -HK$823,117,346.79 | 12.3x | -141x | 2.1x |
| Sat, 20 Jul 2024 | HK$122.4b | HK$53.9b | -HK$1,098,700,758.42 | 12.4x | -111.4x | 2.3x |
| Mon, 17 Jun 2024 | HK$136.0b | HK$54.0b | -HK$1,096,025,114.84 | 13.2x | -124.1x | 2.5x |
| Wed, 15 May 2024 | HK$159.0b | HK$54.1b | -HK$1,090,559,008.32 | 15.8x | -145.8x | 2.9x |
| Fri, 12 Apr 2024 | HK$145.4b | HK$54.3b | -HK$1,095,493,133.50 | 14.2x | -132.7x | 2.7x |
| Sun, 10 Mar 2024 | HK$152.0b | HK$52.8b | -HK$1,041,552,492.31 | 11.4x | -145.9x | 2.9x |
| Tue, 06 Feb 2024 | HK$145.0b | HK$53.6b | -HK$2,415,643,711.84 | 11.1x | -60x | 2.7x |
| Thu, 04 Jan 2024 | HK$196.2b | HK$53.6b | -HK$2,345,566,593.00 | 14.7x | -83.6x | 3.7x |
| Sat, 02 Dec 2023 | HK$210.4b | HK$53.7b | -HK$2,344,779,173.00 | 16.9x | -89.7x | 3.9x |
| Mon, 30 Oct 2023 | HK$198.5b | HK$52.8b | -HK$2,342,520,412.00 | 17.4x | -84.7x | 3.8x |
| Wed, 27 Sep 2023 | HK$206.1b | HK$52.8b | -HK$2,343,089,368.00 | 17x | -88x | 3.9x |
Price to Earnings Ratio
-88x
Current Industry PE
- Investors are optimistic on the Hong Kong Medical Equipment industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 47.5x which is higher than its 3-year average PE of 23.6x.
- The industry is trading close to its 3-year average PS ratio of 3.1x.
Past Earnings Growth
- Total earnings for the Medical Equipment industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 11% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Hong Kong Healthcare industry?
| HK Market | -0.71% | |
| Healthcare | 3.27% | |
| Medical Equipment | -2.05% | |
| Medical Supplies | -0.52% | |
| Medical Equipment | -2.47% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 58.1%, which is higher than its past year's earnings growth of 27.1% per year.
- Investors are most pessimistic about the Medical Supplies industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 14.7x.
Forecasted Growth
- Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 58% over the next 5 years.
- This is better than its past earnings growth rate of 27% per year.
- In contrast, the Medical Supplies industry is expected to see its earnings grow by 19% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 3600 Modern Dental Group | HK$7.92 | 6.2% +HK$434.4m | 49.1% | PE10.8x | |
| 1066 Shandong Weigao Group Medical Polymer | HK$3.16 | 2.4% +HK$340.6m | -45.3% | PE8.9x | |
| 1763 China Isotope & Radiation | HK$14.40 | 7.8% +HK$332.7m | -8.7% | PE12.1x | |
| 6609 Shanghai HeartCare Medical Technology | HK$53.60 | 12.8% +HK$231.0m | -11.0% | PE18.7x | |
| 2235 MicroTech Medical (Hangzhou) | HK$7.00 | 6.0% +HK$164.0m | -12.6% | PE30x |