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New Zealand (NZX) Healthcare Sector Analysis

UpdatedMar 30, 2026
DataAggregated Company Financials
Companies14
  • 7D1.4%
  • 3M-8.4%
  • 1Y-5.7%
  • YTD-8.6%

In the last week, the Healthcare industry is up 1.4%, with Fisher & Paykel Healthcare up 2.2%. Meanwhile, Ryman Healthcare actually underperformed within the industry, shrinking 5.3% in the last week. In the past year, the industry is down 5.7%. 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
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
Thu, 06 Apr 2023NZ$32.0bNZ$15.5bNZ$1.6b19.4x20.2x2.1x
Price to Earnings Ratio

20.2x


Total Market Cap: NZ$32.0bTotal Earnings: NZ$1.6bTotal Revenue: NZ$15.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 41.7x202420252026
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 72.0x which is higher than its 3-year average PE of 41.7x.
  • 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 8.4% 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-0.48%
Healthcare1.43%
Medical Equipment2.17%
Pharma0.06%
Biotech0%0
Healthcare Services-0.098%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 39.3x.
    • Analysts are expecting annual earnings growth of 36.4%, 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 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
EBO EBOS GroupNZ$21.81-0.4%
NZ$22.5m		-42.8%PE16.4x
PHL Promisia HealthcareNZ$0.471.1%
+NZ$263.6k		42.4%PE21.1x

Latest News

EBO
NZ$21.81
EBOS Group
7D
-0.4%
1Y
-42.8%

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

Analysts have made a small upward adjustment to EBOS Group's fair value estimate, with the price target moving from around NZ$33.56 to NZ$33.59 as they fine tune assumptions on long term profitability and the future P/E multiple. What's in the News EBOS Group Limited was dropped from the S&P/ASX 200 Index, which may affect index fund ownership and trading volumes for the stock (Key Developments).
FPH
NZ$36.12
Fisher & Paykel Healthcare
7D
-2.4%
1Y
7.7%

FPH: Updated Guidance And Sector Perform Rating Will Shape Balanced Future Expectations

Analysts have trimmed their fair value estimate for Fisher & Paykel Healthcare to NZ$40.89 from NZ$41.12. The modest shift reflects updated assumptions for the discount rate, profit margin and future P/E, following recent guidance and a price target move to NZ$36 from NZ$31 in Street research.
OCA
NZ$0.69
Oceania Healthcare
7D
-5.5%
1Y
13.1%

OCA: Fair Value Will Depend On Slightly Firmer Future Profitability

Analysts have kept their NZ$0.84 fair value estimate for Oceania Healthcare steady. They cited only small tweaks to assumptions around revenue growth, profit margins, discount rate and future P/E that do not materially shift their overall price view.
SUM
NZ$9.00
Summerset Group Holdings
7D
-1.0%
1Y
-20.0%
RYM
NZ$2.05
Ryman Healthcare
7D
-4.2%
1Y
-25.7%

RYM: Higher Margins And Steady Sales Guidance Will Support Bullish Outlook

Analysts have nudged their NZ$ fair value estimate for Ryman Healthcare from NZ$2.94 to NZ$2.95, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Ryman Healthcare reaffirmed its sales guidance for occupation right agreements for fiscal 2026 at 1,300 to 1,400 agreements, indicating no change to its previously communicated range (Key Developments).
RAD
NZ$0.36
Radius Residential Care
7D
-2.7%
1Y
69.8%
PEB
NZ$0.17
Pacific Edge
7D
-6.0%
1Y
30.5%
AFT
NZ$3.37
AFT Pharmaceuticals
7D
-2.0%
1Y
25.3%
TRU
NZ$0.016
TruScreen Group
7D
-5.9%
1Y
-46.7%
PHL
NZ$0.47
Promisia Healthcare
7D
1.1%
1Y
42.4%