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 52.8x 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 even though it's trading below its 3-year average PE ratio of 55.8x. Analysts are expecting annual earnings growth of 17.1%, which is higher than its past year's earnings growth of 11.9% per year.

U.S. Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 02 Aug 2026	US$6.9t	US$3.3t	US$130.1b	26.7x	52.8x	2.1x
Tue, 30 Jun 2026	US$6.9t	US$3.3t	US$121.7b	24.9x	56.3x	2.1x
Thu, 28 May 2026	US$6.3t	US$3.3t	US$122.5b	23.1x	51.6x	1.9x
Sat, 25 Apr 2026	US$6.2t	US$3.3t	US$121.3b	24x	51.3x	1.9x
Mon, 23 Mar 2026	US$6.1t	US$3.3t	US$124.7b	22.3x	48.7x	1.9x
Wed, 18 Feb 2026	US$6.6t	US$3.3t	US$128.7b	26.2x	50.9x	2x
Fri, 16 Jan 2026	US$6.6t	US$3.2t	US$136.3b	27.3x	48.6x	2.1x
Sun, 14 Dec 2025	US$6.4t	US$3.2t	US$134.0b	26.3x	47.8x	2x
Tue, 11 Nov 2025	US$6.0t	US$3.2t	US$133.4b	25.4x	45.1x	1.9x
Thu, 09 Oct 2025	US$6.0t	US$3.1t	US$137.9b	24.7x	43.5x	1.9x
Sat, 06 Sep 2025	US$5.7t	US$3.1t	US$137.6b	23.1x	41.5x	1.8x
Mon, 04 Aug 2025	US$5.4t	US$3.1t	US$126.7b	22.7x	42.7x	1.8x
Wed, 02 Jul 2025	US$5.5t	US$3.0t	US$127.5b	24.4x	43.1x	1.8x
Fri, 30 May 2025	US$5.3t	US$3.0t	US$127.3b	23x	41.9x	1.8x
Sun, 27 Apr 2025	US$5.4t	US$2.7t	US$118.5b	24.9x	45.6x	2x
Tue, 25 Mar 2025	US$5.7t	US$2.6t	US$81.8b	27.1x	69.9x	2.2x
Thu, 20 Feb 2025	US$5.8t	US$2.6t	US$82.1b	26.1x	70.8x	2.2x
Sat, 18 Jan 2025	US$5.9t	US$2.9t	US$79.0b	27.7x	74.5x	2x
Mon, 16 Dec 2024	US$5.9t	US$2.9t	US$77.7b	28.3x	76x	2x
Wed, 13 Nov 2024	US$6.3t	US$2.9t	US$76.7b	28.4x	82.3x	2.2x
Fri, 11 Oct 2024	US$6.2t	US$2.8t	US$60.0b	29.5x	103.3x	2.2x
Sun, 08 Sep 2024	US$6.2t	US$2.8t	US$60.4b	30.5x	102.3x	2.2x
Tue, 06 Aug 2024	US$6.4t	US$2.9t	US$64.1b	30.1x	99.1x	2.2x
Thu, 04 Jul 2024	US$6.1t	US$2.8t	US$62.3b	29.6x	97.5x	2.2x
Sat, 01 Jun 2024	US$6.0t	US$2.8t	US$64.0b	29.9x	94.1x	2.1x
Mon, 29 Apr 2024	US$6.0t	US$2.8t	US$68.3b	31.5x	87.7x	2.1x
Wed, 27 Mar 2024	US$6.2t	US$2.8t	US$82.3b	31.6x	75.6x	2.2x
Fri, 23 Feb 2024	US$6.2t	US$2.8t	US$86.8b	30.7x	71.8x	2.2x
Sun, 21 Jan 2024	US$6.3t	US$2.8t	US$90.8b	32.4x	69.4x	2.2x
Tue, 19 Dec 2023	US$6.1t	US$2.8t	US$91.5b	32.1x	66.5x	2.2x
Thu, 16 Nov 2023	US$5.8t	US$2.8t	US$90.9b	28x	63.5x	2.1x
Sat, 14 Oct 2023	US$5.9t	US$2.8t	US$98.8b	25.7x	59.4x	2.1x
Mon, 11 Sep 2023	US$6.1t	US$2.8t	US$98.6b	27.5x	61.8x	2.2x
Wed, 09 Aug 2023	US$6.2t	US$2.8t	US$99.3b	28.1x	62.3x	2.2x


US Market	0.97%
Healthcare	-0.089%
Healthtech	4.79%
Medical Equipment	3.94%
Life Sciences	2.29%
Biotech	-0.54%
Healthcare Services	-1.40%
Pharma	-1.71%

Company	Last Price	7D	1Y	Valuation
REGN Regeneron Pharmaceuticals	US$762.63	16.3% +US$9.4b	36.5%	PE17.6x
BMY Bristol-Myers Squibb	US$65.31	5.2% +US$6.6b	47.7%	PE14.4x
ISRG Intuitive Surgical	US$353.33	4.7% +US$5.6b	-26.9%	PE39.8x
AMGN Amgen	US$385.16	2.4% +US$4.9b	29.7%	PE26.7x
TEVA Teva Pharmaceutical Industries	US$35.01	13.6% +US$4.9b	127.6%	PE57.8x

Announcement • Jul 29

Amgen Receives Positive CHMP Opinion for Expanded Use of Repatha to Reduce Cardiovascular Risk in High-Risk Adults

Amgen announced the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion for Repatha (evolocumab) for adults with established or at high risk for atherosclerotic cardiovascular disease to reduce cardiovascular risk by lowering LDL-C levels, as an adjunct to correction of other risk factors. The recommendation is based on results from the Phase 3 VESALIUS-CV trial, which demonstrated that Repatha significantly reduced the risk of major adverse cardiovascular events (MACE) in high-risk adults without a prior heart attack or stroke, when added to statins or other LDL-C-lowering treatments. Repatha is the only PCSK9 inhibitor proven in a Phase 3 clinical trial to reduce the risk of a first major cardiovascular event. If approved by the European Commission, this expanded indication has the potential to redefine cardiovascular care for appropriate patients in Europe. Cardiovascular disease is the leading cause of death worldwide. Recent research shows that more than 99% of people who experience a first-time cardiovascular event have at least one traditional risk factor, including high LDL-C, which is one of the most modifiable risk factors for heart attack or stroke. While the European Society of Cardiology (ESC) and European Atherosclerosis Society (EAS) guidelines recommend intensive LDL-C lowering based on cardiovascular risk, many high-risk patients remain above recommended LDL-C targets despite available lipid-lowering therapies. Repatha was initially approved in the European Union in 2015 for the treatment of adults and pediatric patients with primary hypercholesterolemia or mixed dyslipidemia, as well as to reduce cardiovascular risk in adults with established ASCVD. The European Commission is expected to make a final decision on the application in the coming months. VESALIUS-CV is a Phase 3, double-blind, randomized, placebo-controlled, global clinical trial designed to evaluate the impact of LDL-C lowering with evolocumab on MACE in adults at high CV risk without prior heart attack or stroke. Results were published in the New England Journal of Medicine in November 2025. Repatha demonstrated a 25% relative reduction in the risk of a composite of coronary heart disease (CHD) death, heart attack or ischemic stroke (3-P MACE), and 19% reduction in a broader composite that also included any ischemia-driven arterial revascularization (4-P MACE). Evolocumab also reduced the risk of heart attack by 36%. A consistent benefit was seen with evolocumab vs. placebo across all three endpoints, including the reduced risk of heart attack by 36%. In a lipid sub-study, adding evolocumab to a maximally tolerated dose of statin and/or ezetimibe substantially lowered LDL-C levels among observed patients, with a median level of 45 mg/dL compared to 109 mg/dL in the placebo group. VESALIUS-CV enrolled more than 12,000 patients with known ASCVD or high-risk diabetes, who had no history of heart attack or stroke, an LDL-C = 90 mg/dL, or non-high-density lipoprotein cholesterol (non-HDL-C) = 120 mg/dL, or apolipoprotein B = 80 mg/dL; and treated with highest tolerated dose of statin and/or ezetimibe. The median baseline LDL-C was 122 mg/dL (IQR, 104-149 mg/dL) on local lab testing. Participants were randomized to receive evolocumab or placebo in addition to optimized lipid-lowering therapy and were followed for a median of approximately 4.6 years. Repatha is a human monoclonal antibody that inhibits proprotein convertase subtilisin/kexin type 9 (PCSK9). Repatha binds to PCSK9 and inhibits circulating PCSK9 from binding to the low-density lipoprotein (LDL) receptor (LDLR), preventing PCSK9-mediated LDLR degradation and permitting LDLR to recycle back to the liver cell surface. By inhibiting the binding of PCSK9 to LDLR, Repatha increases the number of LDLRs available to clear LDL from the blood, thereby lowering LDL-C levels. Repatha is one of the most extensively studied PCSK9 inhibitors, with clinical and real-world evidence across diverse populations and CV risk profiles. The clinical benefits and safety of Repatha have been studied for 15 years in 51 clinical trials with over 57,000 patients. Repatha is the only PCSK9 inhibitor to demonstrate a significant reduction of cardiovascular events as both high-risk primary and secondary prevention, with patients achieving and maintaining dramatic LDL-C reductions using Repatha only once every two weeks. Repatha was first approved in 2015 and has since been used by more than 10 million patients globally. In August 2025, the U.S. Food and Drug Administration broadened the approved use of Repatha to include adults at increased risk for major adverse CV events due to uncontrolled LDL-C. Repatha is approved in 74 countries, including the U.S., Japan, Canada and in all 28 countries that are members of the European Union. Applications in other countries are pending. In Europe Repatha is approved for use in: Hypercholesterolemia and mixed dyslipidemia. Repatha is indicated in adults with primary hypercholesterolemia (heterozygous familial and non-familial) or mixed dyslipidemia, as an adjunct to diet: in combination with a statin or statin with other lipid lowering therapies in patients unable to reach LDL-C goals with the maximum tolerated dose of a statin or, alone or in combination with other lipid-lowering therapies in patients who are statin-intolerant, or for whom a statin is contraindicated. Homozygous familial hypercholesterolemia. Repatha is indicated in adults and adolescents aged 12 years and over with homozygous familial hypercholesterolemia in combination with other lipid-lowering therapies. Atherosclerotic cardiovascular disease. Repatha is indicated in adults with established or at high risk for atherosclerotic cardiovascular disease to reduce cardiovascular risk by lowering LDL-C levels, as an adjunct to correction of other risk factors: in combination with the maximum tolerated dose of a statin with or without other lipid-lowering therapies or, alone or in combination with other lipid-lowering therapies in patients who are statin-intolerant, or for whom a statin is contraindicated.

U.S. Healthcare Sector Analysis

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Industry Trends

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