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New Zealand (NZX) Healthcare Sector Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies14
  • 7D-3.4%
  • 3M-9.1%
  • 1Y-6.8%
  • YTD-8.5%

Over the last 7 days, the Healthcare industry has dropped 6.0%, driven by Fisher & Paykel Healthcare declining 3.9%. However, the industry is down 6.1% over the past 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
Thu, 26 Mar 2026NZ$32.2bNZ$19.7bNZ$447.5m18.1x71.9x1.6x
Sat, 21 Feb 2026NZ$33.8bNZ$18.6bNZ$539.6m19.7x62.7x1.8x
Mon, 19 Jan 2026NZ$35.8bNZ$18.3bNZ$535.0m21.2x66.9x2x
Wed, 17 Dec 2025NZ$35.4bNZ$18.2bNZ$532.2m22x66.5x1.9x
Fri, 14 Nov 2025NZ$35.7bNZ$18.1bNZ$575.1m22.9x62.1x2x
Sun, 12 Oct 2025NZ$34.3bNZ$17.8bNZ$574.0m19.5x59.8x1.9x
Tue, 09 Sep 2025NZ$35.0bNZ$17.5bNZ$569.3m17.9x61.5x2x
Thu, 07 Aug 2025NZ$36.4bNZ$17.6bNZ$572.1m18.9x63.6x2.1x
Sat, 05 Jul 2025NZ$35.7bNZ$17.5bNZ$568.5m16.7x62.8x2x
Mon, 02 Jun 2025NZ$34.7bNZ$17.4bNZ$567.9m15x61.1x2x
Wed, 30 Apr 2025NZ$33.6bNZ$17.2bNZ$653.1m15.6x51.4x2x
Fri, 28 Mar 2025NZ$34.0bNZ$17.5bNZ$658.9m17.5x51.7x1.9x
Sun, 23 Feb 2025NZ$35.2bNZ$17.6bNZ$706.4m16.7x49.8x2x
Tue, 21 Jan 2025NZ$37.2bNZ$18.2bNZ$734.5m14.7x50.6x2x
Thu, 19 Dec 2024NZ$36.7bNZ$18.1bNZ$727.0m14.1x50.5x2x
Sat, 16 Nov 2024NZ$37.5bNZ$18.2bNZ$967.9m17x38.8x2.1x
Mon, 14 Oct 2024NZ$37.8bNZ$18.3bNZ$968.0m19.9x39.1x2.1x
Wed, 11 Sep 2024NZ$37.1bNZ$18.0bNZ$961.8m20.2x38.6x2.1x
Fri, 09 Aug 2024NZ$34.3bNZ$17.5bNZ$973.2m19.5x35.2x2x
Sun, 07 Jul 2024NZ$29.8bNZ$17.6bNZ$974.4m16.4x30.5x1.7x
Tue, 04 Jun 2024NZ$30.0bNZ$17.3bNZ$1.2b12.9x24.9x1.7x
Thu, 02 May 2024NZ$30.3bNZ$17.4bNZ$1.3b23.9x23.5x1.7x
Sat, 30 Mar 2024NZ$29.2bNZ$17.3bNZ$1.3b23.6x22.7x1.7x
Mon, 26 Feb 2024NZ$28.7bNZ$16.9bNZ$1.1b18.2x25.4x1.7x
Wed, 24 Jan 2024NZ$29.2bNZ$16.7bNZ$1.1b22.8x25.8x1.7x
Fri, 22 Dec 2023NZ$28.8bNZ$16.6bNZ$1.1b23.4x25.5x1.7x
Sun, 19 Nov 2023NZ$28.3bNZ$16.6bNZ$1.1b26.9x25.5x1.7x
Tue, 17 Oct 2023NZ$27.3bNZ$16.3bNZ$1.1b31x24.7x1.7x
Thu, 14 Sep 2023NZ$28.5bNZ$16.5bNZ$1.1b29.6x25.7x1.7x
Sat, 12 Aug 2023NZ$29.6bNZ$15.9bNZ$1.1b29x27.5x1.9x
Mon, 10 Jul 2023NZ$30.7bNZ$15.7bNZ$1.1b29.7x28.6x2x
Wed, 07 Jun 2023NZ$29.7bNZ$16.0bNZ$1.1b31.2x27.5x1.9x
Fri, 05 May 2023NZ$32.0bNZ$15.4bNZ$1.6b18.8x20.3x2.1x
Sun, 02 Apr 2023NZ$32.1bNZ$15.5bNZ$1.6b19.4x20.3x2.1x
Price to Earnings Ratio

20.3x


Total Market Cap: NZ$32.1bTotal Earnings: NZ$1.6bTotal Revenue: NZ$15.5bTotal Market Cap vs Earnings and Revenue0%0%0%
New Zealand Healthcare Sector Price to Earnings3Y Average 41.5x202420252026
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 70.1x which is higher than its 3-year average PE of 41.4x.
  • 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 8.5% 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 Market-2.61%
Healthcare-3.39%
Biotech1.11%
Pharma-2.17%
Healthcare Services-2.41%
Medical Equipment-3.88%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 38.0x.
    • Analysts are expecting annual earnings growth of 37.0%, 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$22.450.7%
+NZ$30.8m		-40.6%PE16.8x
BLT BLIS TechnologiesNZ$0.01713.3%
+NZ$2.6m		21.4%PE21.2x
PEB Pacific EdgeNZ$0.181.1%
+NZ$2.0m		34.8%PS10.2x

Latest News

OCA
NZ$0.74
Oceania Healthcare
7D
-3.9%
1Y
23.3%

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$9.25
Summerset Group Holdings
7D
-6.1%
1Y
-18.9%
RYM
NZ$2.16
Ryman Healthcare
7D
-4.4%
1Y
-18.8%

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).
EBO
NZ$22.45
EBOS Group
7D
0.7%
1Y
-40.6%

EBO: Updated Profit Outlook Will Support Future Capital Efficiency Reassessment

Analysts have trimmed their NZ$ fair value estimate for EBOS Group from NZ$35.22 to NZ$33.56, reflecting updated assumptions for slightly lower revenue growth, a more modest profit margin profile, and a similar forward P/E multiple. What's in the News EBOS Group held an Analyst/Investor Day, which provided an opportunity for management to update the market on the business and the outlook assumptions that feed into valuation work (Key Developments).
FPH
NZ$37.19
Fisher & Paykel Healthcare
7D
-3.9%
1Y
7.5%

FPH: Refreshed Guidance And Sector Perform Upgrade Will Support Fair Value View

Narrative Update Analysts have lifted their price target for Fisher & Paykel Healthcare to NZ$41.12 from NZ$40.81, citing refreshed guidance and recent Street research that includes an upgrade to Sector Perform with a higher NZ$36 target. Analyst Commentary Bullish analysts see the refreshed guidance as a key reason to reassess Fisher & Paykel Healthcare, with one recent upgrade moving the stock to Sector Perform and lifting the price target to NZ$36 from NZ$31.
RAD
NZ$0.37
Radius Residential Care
7D
-1.3%
1Y
72.1%
PEB
NZ$0.18
Pacific Edge
7D
1.1%
1Y
34.8%
AFT
NZ$3.40
AFT Pharmaceuticals
7D
-2.9%
1Y
28.3%
TRU
NZ$0.016
TruScreen Group
7D
-11.1%
1Y
-48.4%
BLT
NZ$0.017
BLIS Technologies
7D
13.3%
1Y
21.4%

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$0.47
Promisia Healthcare
7D
-3.1%
1Y
31.0%