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New Zealand (NZX) Healthcare Sector Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies13
  • 7D2.0%
  • 3M4.5%
  • 1Y-7.1%
  • YTD2.0%

In the last week, the Healthcare industry is up 2.0%, with Fisher & Paykel Healthcare up 3.0%. In the past year, the industry is down 7.1%. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 09 Jan 2026NZ$35.9bNZ$18.4bNZ$535.7m21.1x67x2x
Sun, 07 Dec 2025NZ$35.3bNZ$18.2bNZ$532.5m21.2x66.4x1.9x
Tue, 04 Nov 2025NZ$34.6bNZ$17.9bNZ$576.7m20.4x60x1.9x
Thu, 02 Oct 2025NZ$34.5bNZ$17.8bNZ$575.2m18.3x60x1.9x
Sat, 30 Aug 2025NZ$34.3bNZ$17.5bNZ$567.7m18.7x60.4x2x
Mon, 28 Jul 2025NZ$36.1bNZ$17.6bNZ$570.9m18.5x63.3x2.1x
Wed, 25 Jun 2025NZ$34.7bNZ$17.4bNZ$567.8m15.7x61.1x2x
Fri, 23 May 2025NZ$35.6bNZ$17.4bNZ$722.1m17.1x49.3x2x
Sun, 20 Apr 2025NZ$33.1bNZ$17.2bNZ$652.9m15.8x50.7x1.9x
Tue, 18 Mar 2025NZ$32.2bNZ$17.5bNZ$658.7m18x48.9x1.8x
Thu, 13 Feb 2025NZ$35.9bNZ$18.3bNZ$736.3m16.7x48.8x2x
Sat, 11 Jan 2025NZ$36.6bNZ$18.2bNZ$729.2m14x50.2x2x
Mon, 09 Dec 2024NZ$35.8bNZ$18.1bNZ$731.6m14.1x48.9x2x
Wed, 06 Nov 2024NZ$36.8bNZ$18.2bNZ$967.7m18.1x38x2x
Fri, 04 Oct 2024NZ$36.3bNZ$18.2bNZ$966.8m19x37.6x2x
Sun, 01 Sep 2024NZ$36.0bNZ$18.0bNZ$961.9m20.7x37.5x2x
Tue, 30 Jul 2024NZ$33.4bNZ$17.8bNZ$978.4m19.4x34.1x1.9x
Thu, 27 Jun 2024NZ$30.4bNZ$17.5bNZ$972.8m17x31.2x1.7x
Sat, 25 May 2024NZ$30.1bNZ$17.3bNZ$1.3b20.2x23.3x1.7x
Mon, 22 Apr 2024NZ$29.6bNZ$17.3bNZ$1.3b23.9x23.1x1.7x
Wed, 20 Mar 2024NZ$28.5bNZ$17.2bNZ$1.3b25x22.2x1.7x
Fri, 16 Feb 2024NZ$29.3bNZ$16.5bNZ$1.1b18.4x26x1.8x
Sun, 14 Jan 2024NZ$29.6bNZ$16.6bNZ$1.1b23.1x26.2x1.8x
Tue, 12 Dec 2023NZ$28.5bNZ$16.6bNZ$1.1b23.4x25.2x1.7x
Thu, 09 Nov 2023NZ$28.7bNZ$16.5bNZ$1.1b25.8x25.9x1.7x
Sat, 07 Oct 2023NZ$28.2bNZ$16.3bNZ$1.1b31x25.5x1.7x
Mon, 04 Sep 2023NZ$29.3bNZ$16.5bNZ$1.1b30.4x26.6x1.8x
Wed, 02 Aug 2023NZ$30.8bNZ$15.7bNZ$1.1b29.5x28.7x2x
Fri, 30 Jun 2023NZ$30.0bNZ$15.9bNZ$1.1b29.1x27.9x1.9x
Sun, 28 May 2023NZ$30.6bNZ$15.7bNZ$1.6b17.8x19.4x2x
Tue, 25 Apr 2023NZ$32.5bNZ$15.7bNZ$1.6b18.6x20.5x2.1x
Thu, 23 Mar 2023NZ$31.3bNZ$15.5bNZ$1.6b18.9x19.8x2x
Sat, 18 Feb 2023NZ$31.3bNZ$14.8bNZ$1.7b18.7x18.4x2.1x
Mon, 16 Jan 2023NZ$29.8bNZ$14.7bNZ$1.7b20x17.5x2x
Price to Earnings Ratio

17.5x


Total Market Cap: NZ$29.8bTotal Earnings: NZ$1.7bTotal Revenue: NZ$14.7bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 38x202420252026
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 67.0x which is higher than its 3-year average PE of 38.0x.
  • 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 7.6% 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 Market1.18%
Healthcare1.98%
Pharma4.69%
Medical Equipment3.04%
Healthcare Services0.12%
Biotech-4.86%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 27.6x.
    • Analysts are expecting annual earnings growth of 31.2%, 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$38.441.8%
+NZ$405.2m		1.4%PE51.7x
RYM Ryman HealthcareNZ$2.972.1%
+NZ$60.9m		-34.1%PS3.7x
SUM Summerset Group HoldingsNZ$12.451.3%
+NZ$38.8m		-2.6%PE8.2x
AFT AFT PharmaceuticalsNZ$3.483.0%
+NZ$10.5m		17.6%PE20.9x
PHL Promisia HealthcareNZ$0.484.3%
+NZ$1.1m		37.1%PE21.5x

Latest News

RYM
NZ$2.97
Ryman Healthcare
7D
2.1%
1Y
-34.1%

RYM: Steady Sales Outlook And Margins Will Support Balanced Future Returns

Narrative Update: Ryman Healthcare Analyst Price Target The analyst price target for Ryman Healthcare is unchanged, as analysts kept their fair value estimate steady at $3.23 per share, reflecting consistent assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News Ryman Healthcare Limited updated its sales guidance for full year 2025 to 1,300 to 1,400 units, indicating expectations for broadly flat total sales half on half in what the company describes as a mixed market (company guidance).
TAH
NZ$4.86
Third Age Health Services
7D
-11.3%
1Y
83.4%
RUA
NZ$0.029
Rua Bioscience
7D
3.6%
1Y
0%
AFT
NZ$3.48
AFT Pharmaceuticals
7D
3.0%
1Y
17.6%
OCA
NZ$0.91
Oceania Healthcare
7D
-1.6%
1Y
20.7%

OCA: Slightly Lower Risk And Margins Will Support Fair Future Pricing

Analysts have slightly raised their price target on Oceania Healthcare to NZ$0.84, citing marginal improvements in assumed revenue growth, profit margins, and a modestly lower discount rate that together support a similar but incrementally more confident valuation profile. Valuation Changes Fair Value: Unchanged at NZ$0.84 per share, indicating a steady central valuation despite model refinements.
PEB
NZ$0.18
Pacific Edge
7D
-3.2%
1Y
33.6%

Will Pacific Edge (NZSE:PEB) Spend Its Cash Wisely?

Dec 24
Will Pacific Edge (NZSE:PEB) Spend Its Cash Wisely?
FPH
NZ$38.44
Fisher & Paykel Healthcare
7D
1.8%
1Y
1.4%

FPH: Dividend Increase And Earnings Upgrade Will Support Fair Future Returns

Analysts have slightly raised their price target on Fisher & Paykel Healthcare to $NZD 39.33, reflecting modestly lower discount rate assumptions and a slightly higher future P/E multiple, partly offset by a small downward revision to projected profit margins. What's in the News Directors approved an increased interim dividend of 19.0 cents per ordinary share, up from 18.5 cents in the prior first half, to be paid on 16 December 2025 with a record date of 4 December 2025 (company announcement).
RAD
NZ$0.39
Radius Residential Care
7D
-1.3%
1Y
94.4%
TRU
NZ$0.017
TruScreen Group
7D
-5.6%
1Y
-34.6%
EBO
NZ$27.60
EBOS Group
7D
-0.07%
1Y
-24.3%

EBOS Group Limited's (NZSE:EBO) Price Is Out Of Tune With Earnings

Dec 08
EBOS Group Limited's (NZSE:EBO) Price Is Out Of Tune With Earnings
MEE
NZ$0.059
Me Today
7D
13.5%
1Y
-20.3%
SUM
NZ$12.45
Summerset Group Holdings
7D
1.3%
1Y
-2.6%
PHL
NZ$0.48
Promisia Healthcare
7D
4.3%
1Y
37.1%