Has the U.S. Healthcare Sector valuation changed over the past few years?

Investors are pessimistic on the American 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 62.2x which is lower than its 3-year average PE of 65.5x. The industry is trading close to its 3-year average PS ratio of 2.1x.

Which industries have driven the changes within the U.S. Healthcare sector?

Investors are most optimistic about the Life Sciences industry, which is trading close to its 3-year average PE ratio of 55.5x. Analysts are expecting annual earnings growth of 18.6%, which is higher than its past year's earnings growth of 9.6% per year.

U.S. Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 01 Sep 2026	US$7.2t	US$3.4t	US$116.3b	26.4x	62.2x	2.1x
Thu, 30 Jul 2026	US$7.0t	US$3.3t	US$127.6b	26.3x	55.2x	2.1x
Sat, 27 Jun 2026	US$6.7t	US$3.3t	US$121.7b	24.8x	54.6x	2x
Mon, 25 May 2026	US$6.4t	US$3.3t	US$122.9b	23.4x	51.9x	1.9x
Wed, 22 Apr 2026	US$6.3t	US$3.3t	US$121.2b	23.6x	52x	1.9x
Fri, 20 Mar 2026	US$6.2t	US$3.3t	US$124.3b	22.8x	49.5x	1.9x
Sun, 15 Feb 2026	US$6.5t	US$3.3t	US$128.1b	26.5x	51.1x	2x
Tue, 13 Jan 2026	US$6.6t	US$3.2t	US$136.3b	26.6x	48.4x	2.1x
Thu, 11 Dec 2025	US$6.3t	US$3.2t	US$134.1b	26.2x	46.9x	2x
Sat, 08 Nov 2025	US$6.0t	US$3.2t	US$132.2b	25.5x	45.4x	1.9x
Mon, 06 Oct 2025	US$6.0t	US$3.1t	US$137.8b	24.7x	43.8x	2x
Wed, 03 Sep 2025	US$5.7t	US$3.1t	US$137.6b	23.3x	41.4x	1.8x
Fri, 01 Aug 2025	US$5.5t	US$3.1t	US$127.6b	23.4x	43.1x	1.8x
Sun, 29 Jun 2025	US$5.5t	US$3.0t	US$127.5b	24.8x	43.1x	1.8x
Tue, 27 May 2025	US$5.3t	US$3.0t	US$126.9b	22.6x	41.7x	1.7x
Thu, 24 Apr 2025	US$5.3t	US$2.7t	US$98.1b	24.8x	54x	2x
Sat, 22 Mar 2025	US$5.7t	US$2.6t	US$81.8b	26.6x	70x	2.2x
Mon, 17 Feb 2025	US$5.8t	US$2.6t	US$82.1b	26.7x	70.8x	2.2x
Wed, 15 Jan 2025	US$5.8t	US$2.9t	US$78.9b	28.1x	73.9x	2x
Fri, 13 Dec 2024	US$6.0t	US$2.9t	US$77.6b	28.6x	77x	2x
Sun, 10 Nov 2024	US$6.3t	US$2.9t	US$76.0b	28.3x	82.8x	2.2x
Tue, 08 Oct 2024	US$6.2t	US$2.8t	US$60.1b	30.3x	102.4x	2.2x
Thu, 05 Sep 2024	US$6.3t	US$2.8t	US$60.4b	31.6x	104.2x	2.2x
Sat, 03 Aug 2024	US$6.4t	US$2.9t	US$63.3b	31.8x	100.9x	2.2x
Mon, 01 Jul 2024	US$6.2t	US$2.8t	US$62.2b	30.5x	99.3x	2.2x
Wed, 29 May 2024	US$6.1t	US$2.8t	US$63.8b	30.3x	96.3x	2.2x
Fri, 26 Apr 2024	US$6.0t	US$2.8t	US$72.2b	30.4x	82.7x	2.1x
Sun, 24 Mar 2024	US$6.2t	US$2.8t	US$82.2b	31.8x	75.9x	2.2x
Tue, 20 Feb 2024	US$6.3t	US$2.8t	US$82.6b	30.1x	75.9x	2.2x
Thu, 18 Jan 2024	US$6.3t	US$2.8t	US$90.8b	32x	69.5x	2.2x
Sat, 16 Dec 2023	US$6.1t	US$2.8t	US$91.5b	32.3x	66.5x	2.2x
Mon, 13 Nov 2023	US$5.7t	US$2.8t	US$91.1b	26.3x	62.2x	2x
Wed, 11 Oct 2023	US$5.9t	US$2.8t	US$98.3b	26.9x	60.2x	2.1x
Fri, 08 Sep 2023	US$6.1t	US$2.8t	US$98.6b	26.9x	62x	2.2x


US Market	0.071%
Healthcare	-2.62%
Healthtech	10.23%
Life Sciences	-1.29%
Medical Equipment	-1.42%
Healthcare Services	-1.78%
Biotech	-2.74%
Pharma	-4.04%

Company	Last Price	7D	1Y	Valuation
VEEV Veeva Systems	US$285.69	15.0% +US$5.9b	6.1%	PE45.6x
PFE Pfizer	US$28.46	1.8% +US$2.8b	14.9%	PE37.4x
ISRG Intuitive Surgical	US$376.86	1.4% +US$1.8b	-19.7%	PE42.4x
MCK McKesson	US$885.32	1.3% +US$1.3b	28.9%	PE22.5x
RMD ResMed	US$240.10	3.3% +US$1.1b	-12.5%	PE22.7x

Announcement • 17h

Abbott Launches Similac 360 Total Care Made with Whole Milk Ready-To-Feed Liquid Infant Formula in the United States

Abbott had announced the launch of Similac 360 Total Care Made With Whole Milk—the first and only commercially sterile, ready-to-feed liquid infant formula made with whole milk in the United States. This new formula is available at launch pricing similar to the per-feeding cost of Similac 360 Total Care powdered infant formulas. Similac 360 Total Care Made With Whole Milk combines creamy whole milk for a fat blend that more closely resembles the fats in breast milk and five immune-nourishing prebiotics to help support baby's natural defenses—making it Similac's closest formula to breast milk. Similac 360 Total Care Made With Whole Milk is Similac's closest formula to breast milk. It combines whole milk and an exclusive blend of five human milk oligosaccharides (HMOs), which are prebiotics structurally identical to five of those found in breast milk. This formula is designed to help support a baby's immune system, brain development, and digestive health. Similac 360 Total Care Made With Whole Milk is also non-GMO and does not contain artificial growth hormones, corn syrup or palm olein oil. Abbott made the decision to bring this new formula to American families in a commercially sterile, liquid offering only. This gives parents the choice of formula made with whole milk in a convenient, ready-to-feed format, and it provides the inherent peace of mind that comes with liquid infant formulas. Unlike powdered formula, ready-to-feed liquid formula requires no preparation. Parents can simply open and feed, whether at home, while traveling or during overnight feedings. Whether powder or liquid, parents can use all Similac formulas confidently. Similac 360 Total Care Made With Whole Milk is available at Target and Amazon. Over the coming weeks, customers can find the liquid formula at Walmart and additional retail and club locations, grocers and pharmacy chains. While liquid infant formulas typically cost more than powdered, Abbott is launching the 8 fl oz and 32 fl oz sizes of Similac 360 Total Care Made With Whole Milk at prices similar to the per-feeding cost of Similac 360 Total Care powdered infant formulas. This gives more families access to the convenience of ready-to-feed formula at pricing similar to powder. Similac 360 Total Care Made With Whole Milk joins Abbott's extensive portfolio of infant formulas and expands feeding options for families seeking a formula made with whole milk. Each batch of Similac 360 Total Care Made With Whole Milk will be produced at Abbott's own manufacturing facility in the United States. For parents who prefer the original Similac 360 Total Care formula, that product will remain in 2 fl oz and 8 fl oz ready-to-feed format. Nothing changes in the original Similac 360 Total Care powdered formulas, which will still be available at various sizes and price points. Commercial sterility means a liquid infant formula has undergone an additional, carefully controlled, validated heat treatment process designed to eliminate spores of potentially harmful microorganisms, particularly Clostridium spores. The nutritional quality of all Abbott's liquid, ready-to-feed infant formulas is maintained throughout the heat treatment process. All of Abbott's liquid, ready-to-feed infant formulas are commercially sterile. Ready-to-feed liquid formulas are often used for convenience, especially in those late-night hours when mixing formula is less than ideal. Both FDA and CDC advise parents of infants under two months of age and those with weakened immune systems should also consider feeding a commercially sterile liquid formula for infants not receiving breast milk. Parents can continue using Similac powdered infant formulas with confidence, knowing that Abbott designs its manufacturing processes to help prevent the presence and growth of potentially harmful bacteria across both liquid and powder formula production. All of Abbott's powdered infant formulas are manufactured under rigorous quality and safety controls and meet or exceed industry regulations for infant formula testing.

Announcement • Aug 28

Pfizer And BioNTech Receive U.S. FDA Approval For XFG-Adapted COVID-19 Vaccine

Pfizer Inc. and BioNTech SE announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for the companies’ 2026-2027 COVID-19 vaccine formula targeting the XFG variant (COMIRNATY XFG; COVID-19 Vaccine, mRNA) for use in adults ages 65 years and older, as well as in individuals ages 5 through 64 years with at least one underlying condition that puts them at high risk for severe outcomes from COVID-19. The FDA approval is based on the cumulative body of evidence previously submitted by Pfizer and BioNTech that includes clinical, non-clinical and real-world data supporting the safety and effectiveness of COMIRNATY, as well as manufacturing/quality and non-clinical data showing that the XFG-adapted COVID-19 vaccine generated strong immune responses against currently circulating SARS-CoV-2 variants, including XFG, XFG.1.1, NB.1.8.1, PQ.17, PQ.2.8.1 and other contemporary lineages. The selection of the XFG variant is based on guidance from the FDA as the preferred composition of COVID-19 vaccines for use in the U.S. beginning in fall 2026. This season’s Pfizer and BioNTech COVID-19 vaccine will begin shipping immediately and will be available in pharmacies, hospitals, and clinics across the U.S. in the coming days. To date, more than five billion doses of COMIRNATY have been distributed globally, and it continues to demonstrate a favorable safety and efficacy profile supported by extensive real-world evidence as well as clinical, non-clinical, pharmacovigilance, and manufacturing data. The COVID-19 vaccines by Pfizer and BioNTech are based on BioNTech’s proprietary mRNA technology and were developed by both companies. BioNTech is the Marketing Authorization Holder for the Pfizer-BioNTech COVID-19 vaccine and its adapted vaccines in the United States, the EU, the United Kingdom, and other countries, and the holder of emergency use authorizations or equivalents in other countries. COMIRNATY (COVID-19 VACCINE, mRNA) is a vaccine to protect against coronavirus disease 2019 (COVID-19). COMIRNATY is for people who are 65 years of age and older, or 5 years through 64 years of age with at least one underlying condition that puts them at high risk for severe outcomes from COVID-19. You or your child should NOT get COMIRNATY (COVID-19 Vaccine, mRNA) if you or your child had a severe allergic reaction after a previous dose of COMIRNATY or any Pfizer-BioNTech COVID-19 vaccine or to any ingredient in these vaccines. There is a remote chance that COMIRNATY could cause a severe allergic reaction. A severe allergic reaction would usually occur within a few minutes to 1 hour after getting a dose. For this reason, the vaccination provider may ask you or your child to stay at the place where you or your child received the vaccine for monitoring after vaccination. Signs of a severe allergic reaction can include difficulty breathing, swelling of the face and throat, a fast heartbeat, a bad rash all over the body, dizziness and weakness. Myocarditis (inflammation of the heart muscle) and pericarditis (inflammation of the lining outside the heart) have occurred in some people who have received mRNA COVID-19 vaccines, including COMIRNATY and Pfizer-BioNTech COVID-19 vaccines. Myocarditis and pericarditis following administration of mRNA COVID-19 vaccines have occurred most commonly in males 12 years through 24 years of age. In most of these people, symptoms began within a week following vaccination. You should seek medical attention right away if you or your child have any of the following symptoms after receiving the COMIRNATY, particularly during the 2 weeks after receiving a dose of the vaccine: chest pain, shortness of breath, feelings of having a fast-beating, fluttering, or pounding heart. Additional symptoms, particularly in children, may include fainting, unusual and persistent fatigue or lack of energy, persistent vomiting, persistent pain in the abdomen, unusual and persistent cool, pale skin. Fainting can happen after getting injectable vaccines including COMIRNATY. Your vaccination provider may ask you to sit or lie down. People with weakened immune systems may have a reduced immune response to COMIRNATY. Vaccination with COMIRNATY may not protect all people who receive the vaccine. Before getting COMIRNATY, tell your vaccination provider about all of your or your child’s medical conditions, including if you or your child have any allergies, had a severe allergic reaction after receiving a previous dose of any COVID-19 vaccine, have had myocarditis (inflammation of the heart muscle) or pericarditis (inflammation of the lining outside the heart), have a fever, have a bleeding disorder or are on a blood thinner, are immunocompromised or are on a medicine that affects your immune system, are pregnant, plan to become pregnant, or are breastfeeding, have received another COVID-19 vaccine, have ever fainted in association with an injection. Additional side effects that have been reported with COMIRNATY or Pfizer-BioNTech COVID-19 vaccines include non-severe allergic reactions such as rash, itching, hives, or swelling of the face, injection site reactions: pain, swelling, redness, arm pain, general side effects: tiredness, headache, muscle pain, chills, joint pain, fever, nausea, feeling unwell, swollen lymph nodes (lymphadenopathy), decreased appetite, diarrhea, vomiting, dizziness, febrile seizures (convulsions during a fever) in children 5 through 11 years of age. These may not be all the possible side effects of COMIRNATY. Ask your or your child’s healthcare provider about any side effects that concern you. You may report side effects to FDA/CDC Vaccine Adverse Event Reporting System (VAERS). In addition, you can report side effects to Pfizer Inc.

U.S. Healthcare Sector Analysis

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