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New Zealand (NZX) Healthcare Sector Analysis

UpdatedApr 10, 2026
DataAggregated Company Financials
Companies14
  • 7D5.1%
  • 3M-6.2%
  • 1Y-3.0%
  • YTD-4.9%

Over the last 7 days, the Healthcare industry has risen 4.4%, driven by gains from Fisher & Paykel Healthcare of 7.2%. Despite this gain, the industry's performance has been flat over the past 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, 10 Apr 2026NZ$33.5bNZ$19.8bNZ$449.7m17.5x74.5x1.7x
Sun, 08 Mar 2026NZ$34.4bNZ$19.6bNZ$446.1m17.8x77x1.7x
Tue, 03 Feb 2026NZ$35.1bNZ$18.3bNZ$533.9m21.1x65.8x1.9x
Thu, 01 Jan 2026NZ$35.2bNZ$18.3bNZ$534.5m20.3x65.9x1.9x
Sat, 29 Nov 2025NZ$35.2bNZ$18.1bNZ$530.7m21.2x66.4x1.9x
Mon, 27 Oct 2025NZ$33.9bNZ$17.7bNZ$574.0m19x59.1x1.9x
Wed, 24 Sep 2025NZ$34.0bNZ$17.7bNZ$572.6m18.1x59.5x1.9x
Fri, 22 Aug 2025NZ$37.1bNZ$17.7bNZ$573.8m18.6x64.7x2.1x
Sun, 20 Jul 2025NZ$36.1bNZ$17.6bNZ$570.9m17.7x63.2x2.1x
Tue, 17 Jun 2025NZ$35.2bNZ$17.4bNZ$567.6m14.6x62x2x
Thu, 15 May 2025NZ$35.6bNZ$17.4bNZ$656.3m15.3x54.2x2.1x
Sat, 12 Apr 2025NZ$32.8bNZ$17.2bNZ$653.5m15.6x50.2x1.9x
Mon, 10 Mar 2025NZ$33.6bNZ$17.6bNZ$660.5m16.9x50.9x1.9x
Wed, 05 Feb 2025NZ$36.2bNZ$18.2bNZ$734.4m14.8x49.3x2x
Fri, 03 Jan 2025NZ$37.1bNZ$18.3bNZ$729.5m12.9x50.9x2x
Sun, 01 Dec 2024NZ$37.1bNZ$18.1bNZ$733.0m14.1x50.6x2x
Tue, 29 Oct 2024NZ$37.6bNZ$18.3bNZ$968.4m20x38.9x2.1x
Thu, 26 Sep 2024NZ$35.3bNZ$18.1bNZ$963.6m19.4x36.7x2x
Sat, 24 Aug 2024NZ$36.2bNZ$18.1bNZ$988.6m20.6x36.6x2x
Mon, 22 Jul 2024NZ$32.3bNZ$17.8bNZ$978.1m17.1x33x1.8x
Wed, 19 Jun 2024NZ$30.6bNZ$17.4bNZ$961.9m17x31.8x1.8x
Fri, 17 May 2024NZ$30.6bNZ$17.4bNZ$1.3b22.8x23.8x1.8x
Sun, 14 Apr 2024NZ$29.7bNZ$17.3bNZ$1.3b24.2x23.1x1.7x
Tue, 12 Mar 2024NZ$29.0bNZ$17.0bNZ$1.3b18.9x22.6x1.7x
Thu, 08 Feb 2024NZ$30.1bNZ$16.5bNZ$1.1b18.7x26.7x1.8x
Sat, 06 Jan 2024NZ$29.4bNZ$16.7bNZ$1.1b23.4x26x1.8x
Mon, 04 Dec 2023NZ$28.8bNZ$16.6bNZ$1.1b24.1x25.4x1.7x
Wed, 01 Nov 2023NZ$26.9bNZ$16.6bNZ$1.1b24.3x24.3x1.6x
Fri, 29 Sep 2023NZ$27.7bNZ$16.4bNZ$1.1b28.9x25x1.7x
Sun, 27 Aug 2023NZ$28.8bNZ$16.5bNZ$1.1b28.9x26.3x1.7x
Tue, 25 Jul 2023NZ$30.9bNZ$15.9bNZ$1.1b29.7x28.7x1.9x
Thu, 22 Jun 2023NZ$30.0bNZ$16.0bNZ$1.1b29.1x27.8x1.9x
Sat, 20 May 2023NZ$32.4bNZ$15.4bNZ$1.6b18.8x20.5x2.1x
Mon, 17 Apr 2023NZ$31.8bNZ$15.6bNZ$1.6b18.9x20.1x2x
Price to Earnings Ratio

20.1x


Total Market Cap: NZ$31.8bTotal Earnings: NZ$1.6bTotal Revenue: NZ$15.6bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 42.2x202420252026
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 74.1x which is higher than its 3-year average PE of 42.2x.
  • 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 Market2.44%
Healthcare5.07%
Biotech11.43%
Pharma7.97%
Medical Equipment7.17%
Healthcare Services0.22%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 42.0x.
    • Analysts are expecting annual earnings growth of 36.8%, 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
FPH Fisher & Paykel HealthcareNZ$38.545.0%
+NZ$1.1b		15.4%PE51.8x
AFT AFT PharmaceuticalsNZ$3.689.5%
+NZ$33.6m		33.8%PE22.1x
OCA Oceania HealthcareNZ$0.725.9%
+NZ$29.0m		20.0%PE9.9x
PEB Pacific EdgeNZ$0.199.7%
+NZ$17.4m		54.8%PS10.8x
SUM Summerset Group HoldingsNZ$8.930.3%
+NZ$7.3m		-19.1%PE8.4x

Latest News

OCA
NZ$0.72
Oceania Healthcare
7D
5.9%
1Y
20.0%

OCA: Fair Value Will Depend On Firmer Margins And Revenue Outlook

Analysts have nudged their price target for Oceania Healthcare slightly lower to NZ$0.84, reflecting updated views on revenue growth assumptions, profit margins and the appropriate discount rate. Valuation Changes Fair Value: NZ$0.84 is unchanged, with the updated assumptions still pointing to the same indicative value.
FPH
NZ$38.54
Fisher & Paykel Healthcare
7D
5.0%
1Y
15.4%

FPH: Refreshed Guidance And Sector Perform Rating Will Shape Measured Future Expectations

Analysts have trimmed the fair value estimate for Fisher & Paykel Healthcare to about NZ$40.69 from NZ$40.89, citing improved company guidance and a higher NZ$36 Street price target as support for the updated view. Analyst Commentary Bullish Takeaways Bullish analysts point to the upgraded company guidance as support for moving to a more neutral stance on the shares, which they see as better aligning expectations with current execution.
AFT
NZ$3.68
AFT Pharmaceuticals
7D
9.5%
1Y
33.8%
RYM
NZ$2.08
Ryman Healthcare
7D
-2.8%
1Y
-16.8%

RYM: Reaffirmed Sales Guidance Will Support Bullish Long Term Outlook

Analysts have trimmed their NZ$ price target for Ryman Healthcare by about NZ$0.20, reflecting slightly higher discount rate assumptions and a more cautious view on margins, even as revenue growth expectations and future P/E settings remain under review. What's in the News Ryman Healthcare reaffirmed its sales guidance for occupation right agreements for fiscal 2026, keeping the target range at 1,300 to 1,400 agreements.
PEB
NZ$0.19
Pacific Edge
7D
9.7%
1Y
54.8%
EBO
NZ$22.28
EBOS Group
7D
-3.1%
1Y
-38.3%

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).
SUM
NZ$8.93
Summerset Group Holdings
7D
0.3%
1Y
-19.1%
RAD
NZ$0.39
Radius Residential Care
7D
2.6%
1Y
39.3%
RUA
NZ$0.033
Rua Bioscience
7D
-2.9%
1Y
37.5%
TAH
NZ$4.84
Third Age Health Services
7D
-1.4%
1Y
64.1%
TRU
NZ$0.017
TruScreen Group
7D
6.3%
1Y
-45.2%
BLT
NZ$0.016
BLIS Technologies
7D
6.7%
1Y
6.7%

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