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U.S. Healthcare Services Industry Analysis

UpdatedJan 22, 2026
DataAggregated Company Financials
Companies165
  • 7D1.5%
  • 3M-1.2%
  • 1Y-10.7%
  • YTD2.3%

The Healthcare Services industry is up 1.5% in the last week, with UnitedHealth Group up 3.8%. In the past year, the industry is down 11%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026US$916.7bUS$2.1tUS$34.8b23.6x26.3x0.4x
Sun, 21 Dec 2025US$893.7bUS$2.1tUS$34.8b23.7x25.7x0.4x
Tue, 18 Nov 2025US$877.2bUS$2.1tUS$34.9b21.8x25.1x0.4x
Thu, 16 Oct 2025US$928.6bUS$2.1tUS$49.3b20.8x18.8x0.4x
Sat, 13 Sep 2025US$908.2bUS$2.1tUS$49.4b21.3x18.4x0.4x
Mon, 11 Aug 2025US$766.8bUS$2.1tUS$49.1b20.4x15.6x0.4x
Wed, 09 Jul 2025US$850.6bUS$2.1tUS$52.7b21.9x16.1x0.4x
Fri, 06 Jun 2025US$865.5bUS$2.1tUS$52.5b21.1x16.5x0.4x
Sun, 04 May 2025US$914.0bUS$1.7tUS$50.8b22.3x18x0.5x
Tue, 01 Apr 2025US$1.0tUS$1.7tUS$41.5b24.4x24.7x0.6x
Thu, 27 Feb 2025US$985.0bUS$1.7tUS$41.4b24x23.8x0.6x
Sat, 25 Jan 2025US$1.1tUS$2.0tUS$41.9b23.1x25.7x0.5x
Mon, 23 Dec 2024US$998.9bUS$2.0tUS$41.4b21.9x24.1x0.5x
Wed, 20 Nov 2024US$1.1tUS$2.0tUS$41.3b25.2x27.5x0.6x
Fri, 18 Oct 2024US$1.2tUS$1.9tUS$43.3b25.4x27.4x0.6x
Sun, 15 Sep 2024US$1.2tUS$1.9tUS$43.3b27.5x28.3x0.6x
Tue, 13 Aug 2024US$1.2tUS$1.9tUS$43.2b28.6x27x0.6x
Thu, 11 Jul 2024US$1.1tUS$1.9tUS$43.4b24x24.8x0.6x
Sat, 08 Jun 2024US$1.1tUS$1.9tUS$43.4b26.5x25.5x0.6x
Mon, 06 May 2024US$1.1tUS$1.9tUS$42.3b26.8x25.6x0.6x
Wed, 03 Apr 2024US$1.1tUS$1.8tUS$49.6b25.9x22.8x0.6x
Fri, 01 Mar 2024US$1.1tUS$1.8tUS$49.9b23.8x22.5x0.6x
Sun, 28 Jan 2024US$1.1tUS$1.8tUS$50.0b23.5x22.4x0.6x
Tue, 26 Dec 2023US$1.1tUS$1.8tUS$51.2b23.2x22.4x0.6x
Thu, 23 Nov 2023US$1.1tUS$1.8tUS$51.1b22.6x22.2x0.6x
Sat, 21 Oct 2023US$1.1tUS$1.8tUS$47.1b22.5x24.1x0.6x
Mon, 18 Sep 2023US$1.1tUS$1.8tUS$46.9b21.6x23.2x0.6x
Wed, 16 Aug 2023US$1.1tUS$1.8tUS$46.7b22.5x24.3x0.6x
Fri, 14 Jul 2023US$1.1tUS$1.7tUS$46.1b23.4x22.9x0.6x
Sun, 11 Jun 2023US$1.1tUS$1.7tUS$45.8b22.5x24.4x0.7x
Tue, 09 May 2023US$1.1tUS$1.7tUS$45.7b22.7x24.3x0.6x
Thu, 06 Apr 2023US$1.1tUS$1.4tUS$43.7b23.6x25.2x0.8x
Sat, 04 Mar 2023US$1.1tUS$1.4tUS$44.2b22.2x24.5x0.8x
Mon, 30 Jan 2023US$1.1tUS$1.4tUS$44.8b21x25.1x0.8x
Price to Earnings Ratio

25.1x


Total Market Cap: US$1.1tTotal Earnings: US$44.8bTotal Revenue: US$1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Services Industry Price to Earnings3Y Average 23.4x202420252026
Current Industry PE
  • Investors are optimistic on the American Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.3x which is higher than its 3-year average PE of 23.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.58x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 8.0% per year over the last three years.
  • Meanwhile revenues for these companies have grown 15% 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 U.S. Healthcare industry?

US Market-0.93%
Healthcare0.28%
Healthcare Services1.54%
Managed Healthcare2.21%
Healthcare Services1.12%
Healthcare Distributors0.93%
Healthcare Facilities-0.38%
Industry PE
  • Investors are most optimistic about the Healthcare Distributors industry which is trading above its 3-year average PE ratio of 39.6x.
    • Analysts are expecting annual earnings growth of 17.2%, which is higher than its past year's earnings growth of 13.7% per year.
  • Investors are most pessimistic about the Healthcare Facilities industry, which is trading below its 3-year average of 20.7x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Healthcare Facilities industry is expected to see its earnings grow by 12% 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
UNH UnitedHealth GroupUS$354.474.6%
+US$14.0b		-33.1%PE18.3x
CVS CVS HealthUS$82.681.6%
+US$1.7b		53.6%PE223.8x
GH Guardant HealthUS$117.284.7%
+US$682.8m		141.3%PS16.7x
CI Cigna GroupUS$280.390.9%
+US$654.5m		-4.9%PE12.2x
BKD Brookdale Senior LivingUS$12.7413.2%
+US$354.1m		158.9%PS1x

Latest News

ACHC
US$15.15
Acadia Healthcare Company
7D
27.2%
1Y
-66.0%
GH
US$117.28
Guardant Health
7D
4.7%
1Y
141.3%
CI
US$280.39
Cigna Group
7D
0.9%
1Y
-4.9%

CI: Completed Buybacks And New Employee Clinic Will Support Future Upside

Analysts have nudged their fair value estimate for Cigna Group slightly higher to US$326.92 from US$325.57, citing minor refinements to discount rate assumptions, revenue growth expectations, profit margin inputs, and the forward P/E multiple used in their models. What's in the News Hankook Tire America Corp.
DVA
US$109.17
DaVita
7D
3.1%
1Y
-35.7%
BKD
US$12.74
Brookdale Senior Living
7D
13.2%
1Y
158.9%

BKD: Occupancy Trends And Guidance Will Shape The Next Phase

Analysts have raised their price target on Brookdale Senior Living to about US$12.50 per share, roughly doubling prior fair value estimates. They cited solid Q3 results, higher guidance, continued occupancy momentum, and expectations for mid teens EBITDA growth over the next several years, which support a higher assumed future P/E multiple and a lower discount rate in updated models.
CNC
US$45.42
Centene
7D
-3.9%
1Y
-30.3%

CNC: Government Managed Care Policy Tailwinds Will Support Future Earnings Power

Analysts have lifted their fair value estimate for Centene from about $54.65 to roughly $62.81, citing updated views on discount rates, revenue growth, margins, and future P/E following recent price target hikes and sector commentary around government managed care and the "Great Healthcare Plan." Analyst Commentary Bullish analysts are highlighting a mix of policy tailwinds, product positioning, and company specific execution as reasons to revisit Centene's valuation. Recent research focuses on how government managed care, Medicare Advantage rate discussions, and the "Great Healthcare Plan" could influence earnings power and the multiple investors are willing to pay.
UNH
US$354.47
UnitedHealth Group
7D
4.6%
1Y
-33.1%

Universal Health Services: Why Behavioral Care Is Becoming a Core Earnings Driver

Healthcare investors often focus on hospital occupancy rates, reimbursement shifts, and labor costs. But beneath those headline metrics, a more durable trend is reshaping the industry.
ELV
US$372.24
Elevance Health
7D
-2.5%
1Y
-7.3%

ELV: Medicare Advantage And ACA Policy Shifts Will Shape Margin Recovery Prospects

Analysts have lifted their fair value estimate for Elevance Health by about $7 to $394.60 as they factor in higher Street price targets and expectations for more supportive trends in Medicare Advantage and healthcare exchanges, alongside slightly adjusted assumptions for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Elevance Health points to an overall constructive tone, with several firms revisiting their models and price targets as they reassess earnings potential in Medicare Advantage, exchanges, and related services.
HCA
US$466.34
HCA Healthcare
7D
-3.6%
1Y
43.3%
MCK
US$817.05
McKesson
7D
-3.2%
1Y
36.8%

MCK: North American Pharma Strength Will Support FY26 Core AOI Framework

Narrative Update: McKesson Analysts have lifted their McKesson price targets toward a range of about $900 to $1,000, citing solid North American Pharma momentum, modeled core AOI growth of around 7% for FY26, and a robust demand backdrop reflected in peers' recent results. Analyst Commentary Recent research updates reflect a more constructive stance on McKesson, with higher price targets tied to underlying business trends and peer readthroughs rather than short term trading factors.
CAH
US$206.89
Cardinal Health
7D
-3.1%
1Y
60.0%

CAH: Specialty Expansion And Policy Shifts Will Shape Future Risk Reward Balance

Analysts have nudged their price targets on Cardinal Health higher, reflected in our fair value estimate moving from $216.60 to $222.20. They highlight strong core Pharma execution, improving margins, and growing confidence in the specialty build out and Solaris driven earnings outlook.
THC
US$189.45
Tenet Healthcare
7D
-5.9%
1Y
37.0%

THC: ACA Policy Risks And Buybacks Will Shape Future Earnings Mix

Analysts have trimmed their price targets on Tenet Healthcare by a few dollars to the high US$220s to low US$230s range, as they factor in a lower chance of Affordable Care Act subsidy extensions, potential payor mix headwinds, and a modest reset to future P/E assumptions, even as recent research still cites solid demand and supportive ACA trends for hospitals. Analyst Commentary Recent research on Tenet Healthcare clusters around a tight band of price targets in the high US$220s to low US$230s, with several firms fine tuning their models after Q3 updates and policy developments.
CVS
US$82.68
CVS Health
7D
1.6%
1Y
53.6%

CVS Health: Rebuilding a Healthcare Giant From the Inside Out

CVS Health (NYSE: CVS) has not been an easy stock to own. Over the past year, investors have watched margins compress, guidance get revised, and sentiment sour as healthcare cost inflation collided with reimbursement pressure.
HUM
US$266.29
Humana
7D
-6.2%
1Y
-9.4%

HUM: Legal Appeals And Margin Recovery Prospects Will Shape Balanced Outlook

Humana's updated analyst price target has edged down by about $1 to roughly $287. Analysts are balancing slightly higher long term revenue and margin assumptions with mixed ratings that range from Sell to Outperform across recent research.
DGX
US$182.16
Quest Diagnostics
7D
-4.3%
1Y
20.0%
MOH
US$198.75
Molina Healthcare
7D
2.6%
1Y
-35.1%

MOH: Government Managed Care Contracts Will Drive Future Earnings Repricing

Analysts have reset their price targets on Molina Healthcare, with our fair value estimate moving from US$279.05 to US$251.88 as they factor in tighter profit margin expectations, a slightly higher discount rate, and a higher future P/E multiple supported by mixed, but generally constructive, research on Medicare Advantage and Medicaid exposure. Analyst Commentary Recent Street commentary on Molina Healthcare reflects a split view, with some firms trimming expectations after Q3 while others see room for recovery in government managed care, particularly around Medicare Advantage and Medicaid valuations.