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New Zealand (NZX) Healthcare Sector Analysis

UpdatedJul 24, 2026
DataAggregated Company Financials
Companies14
  • 7D0.3%
  • 3M8.2%
  • 1Y-6.8%
  • YTD-4.1%

Over the last 7 days, the Healthcare industry has remained flat, although notably EBOS Group declined by 3.1%. As for the longer term, the industry has declined 6.5% in the last year. 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
Fri, 24 Jul 2026NZ$33.8bNZ$20.1bNZ$827.8m16.4x40.9x1.7x
Sun, 21 Jun 2026NZ$32.7bNZ$20.3bNZ$831.0m16x39.3x1.6x
Tue, 19 May 2026NZ$28.4bNZ$20.1bNZ$451.4m17.9x62.9x1.4x
Thu, 16 Apr 2026NZ$32.9bNZ$19.9bNZ$450.5m17.3x73.1x1.7x
Sat, 14 Mar 2026NZ$33.6bNZ$19.9bNZ$450.4m18x74.5x1.7x
Mon, 09 Feb 2026NZ$35.6bNZ$18.4bNZ$536.0m20.6x66.4x1.9x
Wed, 07 Jan 2026NZ$35.3bNZ$18.3bNZ$534.8m20.7x66x1.9x
Fri, 05 Dec 2025NZ$35.5bNZ$18.1bNZ$531.6m21.2x66.8x2x
Sun, 02 Nov 2025NZ$34.7bNZ$17.9bNZ$576.3m20.1x60.3x1.9x
Tue, 30 Sep 2025NZ$33.9bNZ$17.8bNZ$574.5m17.6x59x1.9x
Thu, 28 Aug 2025NZ$34.6bNZ$17.5bNZ$541.5m18.5x64x2x
Sat, 26 Jul 2025NZ$36.1bNZ$17.6bNZ$571.0m18.5x63.3x2.1x
Mon, 23 Jun 2025NZ$34.9bNZ$17.5bNZ$568.3m15.7x61.3x2x
Wed, 21 May 2025NZ$34.8bNZ$17.3bNZ$655.7m17x53x2x
Fri, 18 Apr 2025NZ$33.1bNZ$17.1bNZ$652.1m15.8x50.8x1.9x
Sun, 16 Mar 2025NZ$32.4bNZ$17.5bNZ$659.3m18.1x49.1x1.9x
Tue, 11 Feb 2025NZ$35.8bNZ$18.3bNZ$735.2m15.9x48.7x2x
Thu, 09 Jan 2025NZ$36.9bNZ$18.2bNZ$728.6m13.1x50.7x2x
Sat, 07 Dec 2024NZ$36.2bNZ$18.1bNZ$732.2m14.1x49.4x2x
Mon, 04 Nov 2024NZ$36.8bNZ$18.2bNZ$967.0m19x38.1x2x
Wed, 02 Oct 2024NZ$35.8bNZ$18.1bNZ$964.9m19.4x37.1x2x
Fri, 30 Aug 2024NZ$35.7bNZ$18.0bNZ$955.8m20.7x37.3x2x
Sun, 28 Jul 2024NZ$33.7bNZ$17.8bNZ$978.1m19.4x34.5x1.9x
Tue, 25 Jun 2024NZ$30.0bNZ$17.4bNZ$971.4m16.7x30.9x1.7x
Thu, 23 May 2024NZ$30.1bNZ$17.3bNZ$1.3b20.9x23.4x1.7x
Sat, 20 Apr 2024NZ$29.5bNZ$17.3bNZ$1.3b23.5x23x1.7x
Mon, 18 Mar 2024NZ$28.6bNZ$17.2bNZ$1.3b25.8x22.3x1.7x
Wed, 14 Feb 2024NZ$29.1bNZ$16.5bNZ$1.1b18.5x25.8x1.8x
Fri, 12 Jan 2024NZ$29.4bNZ$16.6bNZ$1.1b23.1x26x1.8x
Sun, 10 Dec 2023NZ$28.8bNZ$16.6bNZ$1.1b23.4x25.5x1.7x
Tue, 07 Nov 2023NZ$28.7bNZ$16.6bNZ$1.1b26.4x25.9x1.7x
Thu, 05 Oct 2023NZ$28.0bNZ$16.3bNZ$1.1b31x25.3x1.7x
Sat, 02 Sep 2023NZ$29.3bNZ$16.5bNZ$1.1b30.3x26.6x1.8x
Mon, 31 Jul 2023NZ$30.7bNZ$15.8bNZ$1.1b29.4x28.6x1.9x
Price to Earnings Ratio

28.6x


Total Market Cap: NZ$30.7bTotal Earnings: NZ$1.1bTotal Revenue: NZ$15.8bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 45x202420252026
Current Industry PE
  • Investors are pessimistic on the New Zealander Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 40.9x which is lower than its 3-year average PE of 45.0x.
  • 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 8.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 8.3% 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 Market1.20%
Healthcare0.31%
Pharma0.93%
Medical Equipment0.63%
Healthcare Services-0.23%
Biotech-7.14%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 81.4x.
    • Analysts are expecting annual earnings growth of 13.3%, which is lower than the prior year's growth of 24.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 65% 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
SUM Summerset Group HoldingsNZ$8.423.3%
+NZ$65.7m		-28.6%PE7.9x
AFT AFT PharmaceuticalsNZ$4.279.2%
+NZ$37.8m		58.7%PE30.4x
RYM Ryman HealthcareNZ$2.250.9%
+NZ$20.3m		-10.7%PS2.7x
OCA Oceania HealthcareNZ$0.771.3%
+NZ$7.2m		10.9%PE4655.8x
PHL Promisia HealthcareNZ$0.6921.1%
+NZ$6.3m		38.0%PE2.8x

Latest News

FPH
NZ$39.42
Fisher & Paykel Healthcare
7D
-1.3%
1Y
8.6%
Narrative Update • Jul 22

FPH: Removal From Conviction List Will Pressure Overvalued Shares

Analysts have revised their fair value estimate for Fisher & Paykel Healthcare to NZ$30.59 from NZ$29.31, citing updated assumptions around discount rates, revenue growth, profit margins and a lower future P/E multiple, and also reflecting the recent removal of the stock from a regional conviction list. What's in the News Fisher & Paykel Healthcare declared a dividend of NZ$0.38823529 per share for the six months ended March 31, 2026, according to company disclosures.
AFT
NZ$4.27
AFT Pharmaceuticals
7D
9.2%
1Y
58.7%
SUM
NZ$8.42
Summerset Group Holdings
7D
3.3%
1Y
-28.6%
RYM
NZ$2.25
Ryman Healthcare
7D
0.9%
1Y
-10.7%
RUA
NZ$0.038
Rua Bioscience
7D
15.2%
1Y
-17.4%
EBO
NZ$22.00
EBOS Group
7D
-3.0%
1Y
-46.6%
Narrative Update • Jul 08

EBO: Distribution Contracts And Animal Care Expansion Will Support Future Upside Potential

Analysts have adjusted their price target on EBOS Group to reflect a revised fair value of NZ$36.57, down from NZ$41.16. They cite updated assumptions for discount rates, revenue growth, profit margins, and future P/E multiples.
BLT
NZ$0.017
BLIS Technologies
7D
6.3%
1Y
-10.5%
PEB
NZ$0.27
Pacific Edge
7D
-1.9%
1Y
152.4%
OCA
NZ$0.77
Oceania Healthcare
7D
1.3%
1Y
10.9%
Narrative Update • Jun 26

OCA: Revised Assumptions Will Temper Expectations While Supporting Steady Future Earnings

Analysts have revised their fair value estimate for Oceania Healthcare from about NZ$0.84 to around NZ$0.72. This reflects updates to the discount rate, revenue growth, profit margin and future P/E assumptions used in their valuation work.
RAD
NZ$0.41
Radius Residential Care
7D
3.8%
1Y
6.4%
TAH
NZ$4.52
Third Age Health Services
7D
-1.7%
1Y
4.1%
Analysis Article • Jun 05

Third Age Health Services' (NZSE:TAH) Earnings Offer More Than Meets The Eye

Shareholders appeared to be happy with Third Age Health Services Limited's ( NZSE:TAH ) solid earnings report last...
PHL
NZ$0.69
Promisia Healthcare
7D
21.1%
1Y
38.0%
Analysis Article • Jun 04

We Think That There Are Issues Underlying Promisia Healthcare's (NZSE:PHL) Earnings

Promisia Healthcare Limited's ( NZSE:PHL ) stock was strong after they recently reported robust earnings. However, we...