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New Zealand (NZX) Healthcare Sector Analysis

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies14
  • 7D-0.3%
  • 3M-11.6%
  • 1Y-9.8%
  • YTD-11.6%

The Healthcare industry has been flat over the last week, but Ryman Healthcare has lost 4.8%. Unfortunately though, the industry is down 8.0% over the past 12 months. As for the next few years, earnings are expected to grow by 21% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026NZ$31.2bNZ$20.0bNZ$452.8m18.3x68.8x1.6x
Mon, 30 Mar 2026NZ$32.2bNZ$19.7bNZ$447.5m17.7x72x1.6x
Wed, 25 Feb 2026NZ$34.2bNZ$18.6bNZ$540.0m19.3x63.3x1.8x
Fri, 23 Jan 2026NZ$35.2bNZ$18.3bNZ$534.0m21.2x65.9x1.9x
Sun, 21 Dec 2025NZ$34.7bNZ$18.2bNZ$532.1m21.2x65.1x1.9x
Tue, 18 Nov 2025NZ$35.1bNZ$18.0bNZ$572.7m22.9x61.2x2x
Thu, 16 Oct 2025NZ$34.1bNZ$17.8bNZ$575.2m19.8x59.2x1.9x
Sat, 13 Sep 2025NZ$34.6bNZ$17.5bNZ$570.4m17.8x60.6x2x
Mon, 11 Aug 2025NZ$36.0bNZ$17.6bNZ$572.0m18.7x63x2x
Wed, 09 Jul 2025NZ$36.1bNZ$17.5bNZ$570.0m18.1x63.4x2.1x
Fri, 06 Jun 2025NZ$35.3bNZ$17.4bNZ$567.2m14.6x62.3x2x
Sun, 04 May 2025NZ$34.2bNZ$17.3bNZ$655.4m16.1x52.2x2x
Tue, 01 Apr 2025NZ$33.6bNZ$17.5bNZ$659.1m17.2x50.9x1.9x
Thu, 27 Feb 2025NZ$33.4bNZ$17.6bNZ$706.5m16.4x47.3x1.9x
Sat, 25 Jan 2025NZ$37.3bNZ$18.2bNZ$734.9m14.7x50.7x2x
Mon, 23 Dec 2024NZ$36.5bNZ$18.2bNZ$728.4m12.4x50.1x2x
Wed, 20 Nov 2024NZ$37.8bNZ$18.3bNZ$968.2m17x39x2.1x
Fri, 18 Oct 2024NZ$37.0bNZ$18.2bNZ$967.5m19.8x38.2x2x
Sun, 15 Sep 2024NZ$38.0bNZ$18.0bNZ$963.5m20.4x39.4x2.1x
Tue, 13 Aug 2024NZ$34.2bNZ$17.5bNZ$973.5m19.6x35.2x2x
Thu, 11 Jul 2024NZ$31.0bNZ$17.7bNZ$977.5m16.8x31.7x1.7x
Sat, 08 Jun 2024NZ$30.5bNZ$17.3bNZ$959.9m17.2x31.8x1.8x
Mon, 06 May 2024NZ$30.6bNZ$17.4bNZ$1.3b24.6x23.8x1.8x
Wed, 03 Apr 2024NZ$29.6bNZ$17.3bNZ$1.3b23.7x23x1.7x
Fri, 01 Mar 2024NZ$29.1bNZ$17.0bNZ$1.3b18.6x22.4x1.7x
Sun, 28 Jan 2024NZ$29.4bNZ$16.7bNZ$1.1b20.5x26x1.8x
Tue, 26 Dec 2023NZ$28.8bNZ$16.7bNZ$1.1b23.4x25.5x1.7x
Thu, 23 Nov 2023NZ$28.2bNZ$16.5bNZ$1.1b25.3x25.4x1.7x
Sat, 21 Oct 2023NZ$26.8bNZ$16.5bNZ$1.1b31x24.2x1.6x
Mon, 18 Sep 2023NZ$28.1bNZ$16.6bNZ$1.1b29.4x25.3x1.7x
Wed, 16 Aug 2023NZ$29.6bNZ$15.8bNZ$1.1b29.3x27.5x1.9x
Fri, 14 Jul 2023NZ$30.9bNZ$15.8bNZ$1.1b30x28.7x2x
Sun, 11 Jun 2023NZ$29.1bNZ$16.0bNZ$1.1b30x27x1.8x
Tue, 09 May 2023NZ$31.9bNZ$15.5bNZ$1.6b18.8x20.2x2.1x
Price to Earnings Ratio

20.2x


Total Market Cap: NZ$31.9bTotal Earnings: NZ$1.6bTotal Revenue: NZ$15.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 43.2x202420252026
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 69.1x which is higher than its 3-year average PE of 43.2x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.6x.
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 8.9% 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 Market0.94%
Healthcare-0.25%
Medical Equipment0.56%
Pharma-1.15%
Healthcare Services-1.96%
Biotech-3.43%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 46.8x.
    • Analysts are expecting annual earnings growth of 38.1%, 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
FPH Fisher & Paykel HealthcareNZ$36.180.6%
+NZ$117.5m		2.7%PE48.6x
OCA Oceania HealthcareNZ$0.752.7%
+NZ$14.5m		21.0%PE10.4x
TRU TruScreen GroupNZ$0.01812.5%
+NZ$1.5m		-40.0%PS7.4x
BLT BLIS TechnologiesNZ$0.0176.3%
+NZ$1.3m		13.3%PE21.2x
TAH Third Age Health ServicesNZ$5.021.4%
+NZ$696.8k		65.1%PE18.3x

Latest News

RYM
NZ$2.17
Ryman Healthcare
7D
-4.8%
1Y
-7.3%

RYM: Higher Long Term Margins Will Support Improved Future Earnings Multiple

Analysts have nudged their NZ$ price target on Ryman Healthcare slightly higher, citing updated assumptions around discount rates, modest revenue growth adjustments, stronger long term profit margins, and a lower future P/E multiple as the main drivers of the change. Valuation Changes Fair Value: NZ$3.70 remains unchanged, with no adjustment to the overall fair value estimate.
RAD
NZ$0.39
Radius Residential Care
7D
-3.8%
1Y
40.0%
EBO
NZ$21.29
EBOS Group
7D
-0.7%
1Y
-43.7%

EBO: Index Removal And Higher Future P/E Will Support Capital Efficiency Reassessment

Analysts have trimmed their EBOS Group price target slightly from about NZ$33.94 to around NZ$33.63, reflecting updated assumptions for revenue growth, profit margins, and a modestly higher future P/E multiple. What's in the News EBOS Group Limited was removed from the S&P/ASX 200 Index, which may influence how some index and rules based funds treat the shares (Key Developments).
OCA
NZ$0.75
Oceania Healthcare
7D
2.7%
1Y
21.0%

OCA: Firmer Margins And Revenue Outlook Will Support Higher Future Earnings

Analysts have maintained Oceania Healthcare's fair value estimate at NZ$0.84, with only minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions. These changes have not affected the overall price target level.
FPH
NZ$36.18
Fisher & Paykel Healthcare
7D
0.6%
1Y
2.7%

FPH: Upgraded Guidance And Sector Perform Rating Will Support Bullish Repricing

Analysts have trimmed their fair value estimate for Fisher & Paykel Healthcare by about NZ$0.10 to reflect slightly higher discount rate assumptions, while also acknowledging improved profit margin expectations and recent upgrades in Street price targets, including a move to NZ$36 at one major firm. Analyst Commentary Bullish Takeaways Bullish analysts point to the company’s updated guidance as a key reason for shifting to a more neutral stance, seeing this as support for the revised fair value and the NZ$36 price target.
AFT
NZ$3.50
AFT Pharmaceuticals
7D
-1.4%
1Y
33.1%
PEB
NZ$0.17
Pacific Edge
7D
-3.4%
1Y
69.0%
SUM
NZ$8.20
Summerset Group Holdings
7D
-2.6%
1Y
-24.4%
RUA
NZ$0.029
Rua Bioscience
7D
-6.5%
1Y
-9.4%
TAH
NZ$5.02
Third Age Health Services
7D
1.4%
1Y
65.1%
TRU
NZ$0.018
TruScreen Group
7D
12.5%
1Y
-40.0%
BLT
NZ$0.017
BLIS Technologies
7D
6.3%
1Y
13.3%

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
2.2%
1Y
31.4%