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New Zealand (NZX) Healthcare Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies14
  • 7D-6.6%
  • 3M-6.3%
  • 1Y-6.8%
  • YTD-6.1%

Over the last 7 days, the Healthcare industry has dropped 6.6%, driven by Fisher & Paykel Healthcare declining 7.1%. The industry has fallen 6.8% in the last year. Looking forward, 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
Wed, 11 Mar 2026NZ$33.0bNZ$19.6bNZ$445.5m17.8x74.1x1.7x
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
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 74.1x which is higher than its 3-year average PE of 40.7x.
  • 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 8.0% 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.

Industry Trends

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

NZ Market-3.74%
Healthcare-6.55%
Biotech0%0
Pharma-0.49%
Healthcare Services-3.97%
Medical Equipment-7.83%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 34.3x.
    • 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
SUM Summerset Group HoldingsNZ$10.350.7%
+NZ$16.9m		-13.6%PE9.6x
RAD Radius Residential CareNZ$0.403.9%
+NZ$4.3m		88.1%PE9.9x
AFT AFT PharmaceuticalsNZ$3.510.3%
+NZ$1.0m		34.5%PE21.1x
TAH Third Age Health ServicesNZ$4.951.6%
+NZ$796.4k		50.5%PE18.1x
TRU TruScreen GroupNZ$0.0185.9%
+NZ$747.3k		-40.0%PS7.4x

Latest News

OCA
NZ$0.74
Oceania Healthcare
7D
-7.5%
1Y
12.9%

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$10.35
Summerset Group Holdings
7D
0.7%
1Y
-13.6%
RAD
NZ$0.40
Radius Residential Care
7D
3.9%
1Y
88.1%
RYM
NZ$2.27
Ryman Healthcare
7D
-1.3%
1Y
-24.3%

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.
MEE
NZ$0.058
Me Today
7D
-1.7%
1Y
-7.9%
EBO
NZ$22.65
EBOS Group
7D
-4.6%
1Y
-38.8%
FPH
NZ$38.07
Fisher & Paykel Healthcare
7D
-7.1%
1Y
8.9%

FPH: Improved Guidance And Rating Upgrade Will Support Fairly Valued Outlook

Analysts have lifted their NZ$ fair value estimate for Fisher & Paykel Healthcare from NZ$39.15 to NZ$40.81, citing improved company guidance and a recent upgrade in Street price targets as key supports for the higher range of outcomes. Analyst Commentary Bullish Takeaways Bullish analysts see the higher company guidance as a key support for the uplift in fair value to NZ$40.81, suggesting more confidence in the near term earnings outlook than previously reflected in models.
TAH
NZ$4.95
Third Age Health Services
7D
1.6%
1Y
50.5%
PEB
NZ$0.19
Pacific Edge
7D
-3.0%
1Y
54.0%
AFT
NZ$3.51
AFT Pharmaceuticals
7D
0.3%
1Y
34.5%
TRU
NZ$0.018
TruScreen Group
7D
5.9%
1Y
-40.0%
PHL
NZ$0.46
Promisia Healthcare
7D
-2.2%
1Y
24.7%