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Singaporean (SGX) Healthcare Sector Analysis

UpdatedSep 30, 2025
DataAggregated Company Financials
Companies28
  • 7D-3.2%
  • 3M11.7%
  • 1Y12.7%
  • YTD11.2%

Over the last 7 days, the Healthcare industry has dropped 2.5%, driven by a pullback from Haw Par of 4.4%. Meanwhile, iX Biopharma actually outperformed within the industry, gaining 205% in the last week. In the past year, the industry has gained 13%. Looking forward, earnings are forecast to grow by 52% annually.

Sector Valuation and Performance

Has the Singaporean Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Sep 2025S$9.1bS$3.1bS$307.5m15.3x29.5x3x
Thu, 28 Aug 2025S$9.7bS$3.1bS$390.2m14.4x25x3.2x
Sat, 26 Jul 2025S$9.3bS$3.0bS$366.1m13x25.3x3x
Mon, 23 Jun 2025S$8.5bS$3.1bS$372.7m12x22.8x2.7x
Wed, 21 May 2025S$8.6bS$3.1bS$367.8m13x23.3x2.8x
Fri, 18 Apr 2025S$8.9bS$3.1bS$372.4m12.4x23.9x2.9x
Sun, 16 Mar 2025S$9.1bS$3.1bS$372.5m12.4x24.3x2.9x
Tue, 11 Feb 2025S$8.8bS$3.0bS$351.9m17.1x25.1x3x
Thu, 09 Jan 2025S$8.8bS$3.0bS$350.1m16.8x25.1x3x
Sat, 07 Dec 2024S$8.9bS$3.0bS$350.5m16.4x25.5x3x
Mon, 04 Nov 2024S$8.6bS$2.9bS$341.1m16.2x25.2x2.9x
Wed, 02 Oct 2024S$8.7bS$3.0bS$361.6m16.1x24.1x2.9x
Fri, 30 Aug 2024S$8.3bS$2.9bS$345.4m16.1x24.1x2.8x
Sun, 28 Jul 2024S$8.8bS$2.9bS$361.2m18.3x24.5x3x
Tue, 25 Jun 2024S$8.6bS$2.9bS$364.5m17.1x23.7x3x
Thu, 23 May 2024S$8.7bS$2.9bS$366.8m16.1x23.8x3x
Sat, 20 Apr 2024S$8.4bS$2.9bS$357.7m15.7x23.4x2.9x
Mon, 18 Mar 2024S$8.3bS$2.9bS$411.9m14.7x20.1x2.9x
Wed, 14 Feb 2024S$8.2bS$2.9bS$400.9m14.9x20.5x2.9x
Fri, 12 Jan 2024S$9.2bS$3.2bS$441.2m15.8x20.9x2.9x
Sun, 10 Dec 2023S$9.0bS$3.2bS$440.8m15.4x20.5x2.8x
Tue, 07 Nov 2023S$11.7bS$4.3bS$582.2m15.8x20.1x2.7x
Thu, 05 Oct 2023S$12.7bS$4.4bS$596.2m16x21.3x2.9x
Sat, 02 Sep 2023S$12.9bS$4.4bS$599.6m16.3x21.5x2.9x
Mon, 31 Jul 2023S$13.5bS$4.5bS$648.5m16.7x20.8x3x
Wed, 28 Jun 2023S$13.6bS$4.5bS$646.8m14.3x21x3x
Fri, 26 May 2023S$14.2bS$4.5bS$650.0m15.3x21.8x3.2x
Sun, 23 Apr 2023S$13.8bS$4.6bS$635.8m15.1x21.8x3x
Tue, 21 Mar 2023S$13.0bS$4.4bS$629.3m15.1x20.7x2.9x
Thu, 16 Feb 2023S$13.7bS$4.4bS$649.2m16.4x21.1x3.1x
Sat, 14 Jan 2023S$13.2bS$4.4bS$679.4m15.5x19.4x3x
Mon, 12 Dec 2022S$13.1bS$4.4bS$678.4m15.8x19.3x3x
Wed, 09 Nov 2022S$12.7bS$4.5bS$735.9m14.4x17.2x2.8x
Fri, 07 Oct 2022S$12.3bS$4.5bS$732.8m14.5x16.8x2.7x
Price to Earnings Ratio

16.8x


Total Market Cap: S$12.3bTotal Earnings: S$732.8mTotal Revenue: S$4.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Healthcare Sector Price to Earnings3Y Average 22.4x202320242025
Current Industry PE
  • Investors are optimistic on the Singaporean Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 29.6x which is higher than its 3-year average PE of 22.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 25% per year over the last three years,
  • Revenues have also declined 12% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Singaporean Healthcare sector?

SG Market-0.92%
Healthcare-3.16%
Healthcare Services-1.12%
Pharma-4.38%
Medical Equipment-6.99%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 47.9x.
    • Analysts are expecting annual earnings growth of 65.3%, which is higher than its past year's earnings growth of 16.0% per year.
  • Investors are most pessimistic about the Pharma industry, which is trading below its 3-year average of 14.8x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 65% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 6.5% 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
42C iX BiopharmaS$0.049145.0%
+S$25.8m		88.5%PS5.6x
5WA OUE HealthcareS$0.02911.5%
+S$13.3m		-6.5%PS0.9x
9G2 Singapore Institute of Advanced Medicine HoldingsS$0.04536.4%
+S$12.7m		-50.0%PS3x
8YY Embracing Future HoldingsS$0.0249.1%
+S$3.5m		166.7%PS16.7x
569 Vicplas InternationalS$0.0927.0%
+S$3.1m		-8.0%PS0.4x

Latest News

569
S$0.092
Vicplas International
7D
7.0%
1Y
-8.0%
AP4
S$0.71
Riverstone Holdings
7D
-6.5%
1Y
-19.2%

Is There An Opportunity With Riverstone Holdings Limited's (SGX:AP4) 49% Undervaluation?

Sep 27
Is There An Opportunity With Riverstone Holdings Limited's (SGX:AP4) 49% Undervaluation?
42C
S$0.049
iX Biopharma
7D
145.0%
1Y
88.5%
H02
S$14.20
Haw Par
7D
-3.7%
1Y
30.9%

Potential Upside For Haw Par Corporation Limited (SGX:H02) Not Without Risk

Sep 19
Potential Upside For Haw Par Corporation Limited (SGX:H02) Not Without Risk
BSL
S$0.98
Raffles Medical Group
7D
-3.0%
1Y
7.1%
A50
S$0.06
Thomson Medical Group
7D
-3.2%
1Y
20.0%

Revenues Not Telling The Story For Thomson Medical Group Limited (SGX:A50) After Shares Rise 28%

Sep 12
Revenues Not Telling The Story For Thomson Medical Group Limited (SGX:A50) After Shares Rise 28%
9G2
S$0.045
Singapore Institute of Advanced Medicine Holdings
7D
36.4%
1Y
-50.0%
QC7
S$0.45
Q & M Dental Group (Singapore)
7D
-3.2%
1Y
60.7%

Earnings Tell The Story For Q & M Dental Group (Singapore) Limited (SGX:QC7) As Its Stock Soars 25%

Aug 31
Earnings Tell The Story For Q & M Dental Group (Singapore) Limited (SGX:QC7) As Its Stock Soars 25%
1J5
S$0.35
Hyphens Pharma International
7D
-5.3%
1Y
22.4%
5WA
S$0.029
OUE Healthcare
7D
11.5%
1Y
-6.5%
505
S$0.021
AsiaMedic
7D
10.5%
1Y
90.9%
546
S$0.12
Medtecs International
7D
-2.4%
1Y
-17.3%
40T
S$0.35
ISEC Healthcare
7D
1.4%
1Y
-10.3%
8YY
S$0.024
Embracing Future Holdings
7D
9.1%
1Y
166.7%
PRH
S$0.027
Livingstone Health Holdings
7D
17.4%
1Y
-10.0%
584
S$0.006
AJJ Medtech Holdings
7D
-14.3%
1Y
50.0%