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New Zealand (NZX) Healthcare Sector Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies13
  • 7D1.6%
  • 3M-0.3%
  • 1Y-4.8%
  • YTD1.2%

In the last week, the Healthcare industry is up 1.4%, with Fisher & Paykel Healthcare up 3.1%. In the past year, the industry is down 4.9%. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

Has the New Zealand Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026NZ$35.7bNZ$18.4bNZ$535.6m20.6x66.6x1.9x
Sun, 04 Jan 2026NZ$35.2bNZ$18.3bNZ$534.7m20.3x65.8x1.9x
Tue, 02 Dec 2025NZ$35.2bNZ$18.1bNZ$530.9m21.2x66.4x1.9x
Thu, 30 Oct 2025NZ$34.0bNZ$17.9bNZ$575.8m19.2x59x1.9x
Sat, 27 Sep 2025NZ$33.9bNZ$17.8bNZ$574.1m17.6x59x1.9x
Mon, 25 Aug 2025NZ$36.4bNZ$17.8bNZ$574.5m18.6x63.4x2x
Wed, 23 Jul 2025NZ$36.1bNZ$17.6bNZ$571.6m18.4x63.2x2x
Fri, 20 Jun 2025NZ$34.9bNZ$17.5bNZ$568.6m15.7x61.3x2x
Sun, 18 May 2025NZ$36.0bNZ$17.4bNZ$656.8m16.4x54.8x2.1x
Tue, 15 Apr 2025NZ$33.1bNZ$17.2bNZ$653.4m15.9x50.7x1.9x
Thu, 13 Mar 2025NZ$32.5bNZ$17.5bNZ$659.7m17.7x49.3x1.9x
Sat, 08 Feb 2025NZ$35.5bNZ$18.2bNZ$734.6m14.3x48.3x1.9x
Mon, 06 Jan 2025NZ$37.0bNZ$18.2bNZ$729.3m13.2x50.7x2x
Wed, 04 Dec 2024NZ$37.3bNZ$18.1bNZ$733.0m13.2x50.9x2.1x
Fri, 01 Nov 2024NZ$36.9bNZ$18.2bNZ$967.1m19.7x38.1x2x
Sun, 29 Sep 2024NZ$35.8bNZ$18.0bNZ$963.3m19x37.2x2x
Tue, 27 Aug 2024NZ$36.5bNZ$18.1bNZ$957.3m20.6x38.1x2x
Thu, 25 Jul 2024NZ$34.2bNZ$17.8bNZ$978.0m19.1x35x1.9x
Sat, 22 Jun 2024NZ$30.4bNZ$17.4bNZ$962.5m16.2x31.6x1.7x
Mon, 20 May 2024NZ$30.4bNZ$17.3bNZ$1.3b22.6x23.7x1.8x
Wed, 17 Apr 2024NZ$30.0bNZ$17.3bNZ$1.3b24.1x23.3x1.7x
Fri, 15 Mar 2024NZ$28.7bNZ$17.1bNZ$1.3b25.4x22.4x1.7x
Sun, 11 Feb 2024NZ$29.6bNZ$16.4bNZ$1.1b18.5x26.2x1.8x
Tue, 09 Jan 2024NZ$29.4bNZ$16.6bNZ$1.1b23.1x26x1.8x
Thu, 07 Dec 2023NZ$28.5bNZ$16.6bNZ$1.1b23.4x25.2x1.7x
Sat, 04 Nov 2023NZ$28.1bNZ$16.6bNZ$1.1b25.8x25.3x1.7x
Mon, 02 Oct 2023NZ$27.9bNZ$16.4bNZ$1.1b28.7x25.3x1.7x
Wed, 30 Aug 2023NZ$29.0bNZ$16.5bNZ$1.1b30.4x26.4x1.8x
Fri, 28 Jul 2023NZ$30.7bNZ$15.9bNZ$1.1b29.1x28.6x1.9x
Sun, 25 Jun 2023NZ$29.7bNZ$15.9bNZ$1.1b29.2x27.6x1.9x
Tue, 23 May 2023NZ$32.4bNZ$15.3bNZ$1.6b18.8x20.5x2.1x
Thu, 20 Apr 2023NZ$32.1bNZ$15.6bNZ$1.6b18.8x20.2x2.1x
Sat, 18 Mar 2023NZ$31.1bNZ$15.5bNZ$1.6b19x19.7x2x
Mon, 13 Feb 2023NZ$31.5bNZ$14.8bNZ$1.7b18.7x18.5x2.1x
Price to Earnings Ratio

18.5x


Total Market Cap: NZ$31.5bTotal Earnings: NZ$1.7bTotal Revenue: NZ$14.8bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 39.3x202420252026
Current Industry PE
  • Investors are optimistic on the New Zealander Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 66.4x which is higher than its 3-year average PE of 39.2x.
  • The industry is trading close to its 3-year average PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 32% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.5% 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.

Industry Trends

Which industries have driven the changes within the New Zealand Healthcare sector?

NZ Market0.60%
Healthcare1.57%
Medical Equipment3.10%
Healthcare Services-1.02%
Pharma-4.80%
Biotech-7.00%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 29.8x.
    • Analysts are expecting annual earnings growth of 30.0%, which is higher than its past year's earnings decline of 13.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 45% over the next 5 years.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 13% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FPH Fisher & Paykel HealthcareNZ$39.902.5%
+NZ$581.4m		13.5%PE53.6x
TAH Third Age Health ServicesNZ$5.122.8%
+NZ$1.4m		83.5%PE18.7x
BLT BLIS TechnologiesNZ$0.0176.3%
+NZ$1.3m		6.3%PE21.2x

Latest News

TAH
NZ$5.12
Third Age Health Services
7D
2.8%
1Y
83.5%
RYM
NZ$2.75
Ryman Healthcare
7D
-1.1%
1Y
-36.2%

RYM: Higher Margins And Flat Unit Sales Will Support Balanced Outlook

Analysts have made a small reduction to their price target for Ryman Healthcare to reflect updated assumptions. These include slightly higher long term revenue growth, a higher projected profit margin of about 66% and a modestly lower future P/E of roughly 5.8x.
EBO
NZ$25.61
EBOS Group
7D
-0.4%
1Y
-38.4%

EBOS Group (NZSE:EBO) Will Want To Turn Around Its Return Trends

Jan 31
EBOS Group (NZSE:EBO) Will Want To Turn Around Its Return Trends
PEB
NZ$0.19
Pacific Edge
7D
-3.6%
1Y
204.9%
FPH
NZ$39.90
Fisher & Paykel Healthcare
7D
2.5%
1Y
13.5%

FPH: Updated Guidance And Dividend Policy Will Support Fairly Valued Returns

Analysts have made only a marginal adjustment to their price target for Fisher & Paykel Healthcare, reflecting small tweaks to assumptions around the discount rate, long term revenue growth, profit margin and future P/E, rather than any major shift in their overall view. What's in the News Fisher & Paykel Healthcare updated full year 2025 guidance, with operating revenue now expected in a range of about $2.17b to $2.27b, compared with the prior range of about $2.15b to $2.25b (Key Developments).
OCA
NZ$0.83
Oceania Healthcare
7D
-1.8%
1Y
4.4%

OCA: Steady Fair Value Will Depend On Slightly Higher Profitability

Analysts have modestly adjusted their price view on Oceania Healthcare, keeping fair value around $0.84 while fine tuning assumptions on the discount rate, revenue growth, profit margin and future P/E to reflect slightly updated expectations for the business. Valuation Changes Fair Value: Fair value remains unchanged at NZ$0.84 per share, which suggests only fine tuning in the underlying assumptions rather than a shift in the overall valuation anchor.
SUM
NZ$11.20
Summerset Group Holdings
7D
-3.2%
1Y
-13.0%
AFT
NZ$3.60
AFT Pharmaceuticals
7D
-4.5%
1Y
25.4%
RAD
NZ$0.40
Radius Residential Care
7D
-1.3%
1Y
102.6%
BLT
NZ$0.017
BLIS Technologies
7D
6.3%
1Y
6.3%

There's Reason For Concern Over BLIS Technologies Limited's (NZSE:BLT) Price

Dec 03
There's Reason For Concern Over BLIS Technologies Limited's (NZSE:BLT) Price
PHL
NZ$0.46
Promisia Healthcare
7D
-5.2%
1Y
15.0%