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New Zealand (NZX) Healthcare Sector Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies14
  • 7D-4.3%
  • 3M-4.5%
  • 1Y-0.9%
  • YTD-4.4%

Over the last 7 days, the Healthcare industry has dropped 5.7%, driven by Fisher & Paykel Healthcare declining 5.5%. However, the industry is down 5.6% over the past year. Earnings are forecast to grow by 21% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026NZ$33.7bNZ$19.9bNZ$450.3m18x74.7x1.7x
Sat, 07 Feb 2026NZ$35.6bNZ$18.4bNZ$535.4m20.6x66.5x1.9x
Mon, 05 Jan 2026NZ$35.2bNZ$18.3bNZ$534.7m20.3x65.8x1.9x
Wed, 03 Dec 2025NZ$35.6bNZ$18.1bNZ$531.6m21.1x66.9x2x
Fri, 31 Oct 2025NZ$34.3bNZ$17.8bNZ$575.5m19.8x59.7x1.9x
Sun, 28 Sep 2025NZ$33.9bNZ$17.8bNZ$574.3m17.6x59x1.9x
Tue, 26 Aug 2025NZ$36.2bNZ$17.8bNZ$574.8m18.3x63.1x2x
Thu, 24 Jul 2025NZ$35.9bNZ$17.6bNZ$570.7m18.4x62.9x2x
Sat, 21 Jun 2025NZ$34.9bNZ$17.5bNZ$568.6m15.7x61.3x2x
Mon, 19 May 2025NZ$36.0bNZ$17.4bNZ$656.8m16.4x54.8x2.1x
Wed, 16 Apr 2025NZ$33.1bNZ$17.2bNZ$652.8m16.1x50.7x1.9x
Fri, 14 Mar 2025NZ$32.3bNZ$17.5bNZ$660.1m18x48.9x1.8x
Sun, 09 Feb 2025NZ$35.8bNZ$18.2bNZ$735.1m14.3x48.7x2x
Tue, 07 Jan 2025NZ$37.0bNZ$18.2bNZ$729.1m13.6x50.7x2x
Thu, 05 Dec 2024NZ$37.3bNZ$18.1bNZ$732.7m14.1x50.9x2.1x
Sat, 02 Nov 2024NZ$36.8bNZ$18.2bNZ$967.0m19x38.1x2x
Mon, 30 Sep 2024NZ$35.8bNZ$18.0bNZ$963.3m19x37.2x2x
Wed, 28 Aug 2024NZ$36.0bNZ$18.0bNZ$987.7m20.7x36.5x2x
Fri, 26 Jul 2024NZ$34.0bNZ$17.7bNZ$977.6m19.2x34.7x1.9x
Sun, 23 Jun 2024NZ$30.4bNZ$17.4bNZ$971.0m16.2x31.3x1.7x
Tue, 21 May 2024NZ$30.4bNZ$17.4bNZ$1.3b21.1x23.6x1.7x
Thu, 18 Apr 2024NZ$29.6bNZ$17.3bNZ$1.3b23.9x23.1x1.7x
Sat, 16 Mar 2024NZ$28.6bNZ$17.2bNZ$1.3b25.8x22.3x1.7x
Mon, 12 Feb 2024NZ$29.6bNZ$16.4bNZ$1.1b18.5x26.2x1.8x
Wed, 10 Jan 2024NZ$29.4bNZ$16.7bNZ$1.1b23.1x26x1.8x
Fri, 08 Dec 2023NZ$28.6bNZ$16.5bNZ$1.1b23.4x25.3x1.7x
Sun, 05 Nov 2023NZ$28.1bNZ$16.6bNZ$1.1b25.8x25.3x1.7x
Tue, 03 Oct 2023NZ$28.0bNZ$16.4bNZ$1.1b31x25.3x1.7x
Thu, 31 Aug 2023NZ$29.1bNZ$16.5bNZ$1.1b30.2x26.5x1.8x
Sat, 29 Jul 2023NZ$30.7bNZ$15.8bNZ$1.1b29.4x28.5x1.9x
Mon, 26 Jun 2023NZ$29.7bNZ$15.9bNZ$1.1b29.2x27.6x1.9x
Wed, 24 May 2023NZ$31.6bNZ$15.3bNZ$1.6b18.8x20x2.1x
Fri, 21 Apr 2023NZ$31.8bNZ$15.7bNZ$1.6b18.8x20.1x2x
Sun, 19 Mar 2023NZ$31.1bNZ$15.5bNZ$1.6b19x19.7x2x
Price to Earnings Ratio

19.7x


Total Market Cap: NZ$31.1bTotal Earnings: NZ$1.6bTotal Revenue: NZ$15.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 40.8x202420252026
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 74.0x which is higher than its 3-year average PE of 40.8x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 34% per year over the last three years.
  • Meanwhile revenues for these companies have grown 8.5% 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 Market-1.86%
Healthcare-4.29%
Pharma1.58%
Biotech-1.01%
Healthcare Services-1.86%
Medical Equipment-5.47%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 34.8x.
    • Analysts are expecting annual earnings growth of 37.1%, which is higher than its past year's earnings decline of 14.2% 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 14% 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
AFT AFT PharmaceuticalsNZ$3.583.2%
+NZ$11.5m		35.1%PE21.5x
RAD Radius Residential CareNZ$0.381.3%
+NZ$1.4m		76.7%PE9.5x
TRU TruScreen GroupNZ$0.0185.9%
+NZ$747.3k		-41.9%PS7.4x
TAH Third Age Health ServicesNZ$4.921.0%
+NZ$497.7k		46.9%PE18x
RUA Rua BioscienceNZ$0.0333.1%
+NZ$338.0k		13.8%PS4.7x

Latest News

EBO
NZ$22.25
EBOS Group
7D
-3.8%
1Y
-40.3%

EBO: Updated Profit Outlook Will Support Future Capital Efficiency Reassessment

Analysts have trimmed their NZ$ fair value estimate for EBOS Group from NZ$35.22 to NZ$33.56, reflecting updated assumptions for slightly lower revenue growth, a more modest profit margin profile, and a similar forward P/E multiple. What's in the News EBOS Group held an Analyst/Investor Day, which provided an opportunity for management to update the market on the business and the outlook assumptions that feed into valuation work (Key Developments).
FPH
NZ$38.90
Fisher & Paykel Healthcare
7D
-4.5%
1Y
18.1%

FPH: Refreshed Guidance And Sector Perform Upgrade Will Support Fair Value View

Narrative Update Analysts have lifted their price target for Fisher & Paykel Healthcare to NZ$41.12 from NZ$40.81, citing refreshed guidance and recent Street research that includes an upgrade to Sector Perform with a higher NZ$36 target. Analyst Commentary Bullish analysts see the refreshed guidance as a key reason to reassess Fisher & Paykel Healthcare, with one recent upgrade moving the stock to Sector Perform and lifting the price target to NZ$36 from NZ$31.
OCA
NZ$0.75
Oceania Healthcare
7D
-8.0%
1Y
19.0%

OCA: Fair Value Will Rely On Slightly Higher Future Profitability

Analysts have maintained their NZ$0.84 price target for Oceania Healthcare, citing only small adjustments in their underlying assumptions for discount rate, revenue growth, profit margin and future P/E that did not materially affect their valuation view. Valuation Changes Fair Value: NZ$0.84 remains unchanged, indicating no shift in the overall valuation outcome.
SUM
NZ$10.25
Summerset Group Holdings
7D
-1.9%
1Y
-10.9%
RAD
NZ$0.38
Radius Residential Care
7D
1.3%
1Y
76.7%
RYM
NZ$2.26
Ryman Healthcare
7D
-2.6%
1Y
-20.4%

RYM: Reaffirmed Sales Guidance Will Support Improved Future Earnings Multiple

Analysts have nudged their NZ$ price target on Ryman Healthcare slightly higher, pointing to small changes in assumed discount rates, revenue growth, profit margins and future P/E as the key drivers of the updated view. What's in the News Ryman Healthcare reaffirmed its fiscal 2026 sales guidance for occupation right agreements at 1,300 to 1,400, indicating no change from prior guidance.
RUA
NZ$0.033
Rua Bioscience
7D
3.1%
1Y
13.8%
TAH
NZ$4.92
Third Age Health Services
7D
1.0%
1Y
46.9%
PEB
NZ$0.20
Pacific Edge
7D
-2.4%
1Y
58.7%
AFT
NZ$3.58
AFT Pharmaceuticals
7D
3.2%
1Y
35.1%
TRU
NZ$0.018
TruScreen Group
7D
5.9%
1Y
-41.9%
BLT
NZ$0.015
BLIS Technologies
7D
-6.3%
1Y
7.1%

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
-2.1%
1Y
26.0%