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South African (JSE) Healthcare Sector Analysis

UpdatedJan 17, 2026
DataAggregated Company Financials
Companies4
  • 7D2.6%
  • 3M13.4%
  • 1Y-22.5%
  • YTD5.1%

Over the last 7 days, the Healthcare industry has risen 2.6%, driven by gains from Aspen Pharmacare Holdings of 3.0%. Meanwhile, Cilo Cybin Holdings actually underperformed within the industry, shrinking 7.8% in the last week. However, the industry is down 22% over the past year. As for the next few years, earnings are expected to grow by 46% per annum.

Sector Valuation and Performance

Has the South African Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026R90.8bR95.1b-R1,180,655,123.0011.8x-76.9x1x
Tue, 16 Dec 2025R77.4bR95.1b-R1,180,655,123.0011x-65.5x0.8x
Thu, 13 Nov 2025R91.2bR105.7bR381.2m12.8x239.3x0.9x
Sat, 11 Oct 2025R90.8bR105.7bR381.2m12.6x238.1x0.9x
Mon, 08 Sep 2025R93.3bR105.7bR381.2m12.3x244.7x0.9x
Wed, 06 Aug 2025R97.4bR108.4bR5.9b12.4x16.6x0.9x
Fri, 04 Jul 2025R100.9bR108.4bR5.9b11.8x17.2x0.9x
Sun, 01 Jun 2025R101.3bR108.4bR5.9b12.1x17.3x0.9x
Tue, 29 Apr 2025R98.2bR106.9bR8.7b11.7x11.3x0.9x
Thu, 27 Mar 2025R120.3bR107.6bR8.7b12.3x13.9x1.1x
Sat, 22 Feb 2025R124.8bR106.8bR8.6b12.1x14.5x1.2x
Mon, 20 Jan 2025R127.6bR106.8bR8.7b13.2x14.7x1.2x
Wed, 18 Dec 2024R127.8bR106.8bR8.7b12.8x14.8x1.2x
Fri, 15 Nov 2024R129.7bR103.8bR8.0b15.9x16.3x1.2x
Sun, 13 Oct 2024R140.5bR103.8bR8.0b16x17.7x1.4x
Tue, 10 Sep 2024R133.5bR103.8bR8.0b13.8x16.8x1.3x
Thu, 08 Aug 2024R146.3bR101.3bR8.4b13.1x17.4x1.4x
Sat, 06 Jul 2024R146.6bR101.3bR8.4b12.8x17.5x1.4x
Mon, 03 Jun 2024R142.8bR101.3bR8.4b11.3x17x1.4x
Wed, 01 May 2024R139.2bR100.0bR8.2b12.1x17x1.4x
Fri, 29 Mar 2024R146.7bR100.0bR8.0b16x18.4x1.5x
Sun, 25 Feb 2024R139.1bR98.0bR8.3b15.5x16.7x1.4x
Tue, 23 Jan 2024R144.8bR98.7bR8.3b16.1x17.4x1.5x
Thu, 21 Dec 2023R140.1bR98.7bR8.3b15.3x16.8x1.4x
Sat, 18 Nov 2023R128.8bR97.8bR8.3b14.7x15.6x1.3x
Mon, 16 Oct 2023R130.6bR105.1bR8.5b14.6x15.4x1.2x
Wed, 13 Sep 2023R130.1bR105.1bR8.5b14.4x15.3x1.2x
Fri, 11 Aug 2023R145.8bR102.7bR9.0b15.4x16.1x1.4x
Sun, 09 Jul 2023R137.4bR102.7bR9.0b14.8x15.2x1.3x
Tue, 06 Jun 2023R135.0bR102.7bR9.0b14.8x14.9x1.3x
Thu, 04 May 2023R139.8bR99.7bR8.9b16.6x15.7x1.4x
Sat, 01 Apr 2023R138.0bR99.7bR8.9b16.1x15.5x1.4x
Mon, 27 Feb 2023R123.6bR99.6bR9.0b14.8x13.7x1.2x
Wed, 25 Jan 2023R118.5bR99.6bR9.0b13.3x13.1x1.2x
Price to Earnings Ratio

13.1x


Total Market Cap: R118.5bTotal Earnings: R9.0bTotal Revenue: R99.6bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 24.1x202420252026
Current Industry PE
  • Investors are pessimistic on the South African Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 1.2x is higher than the industry's current PS ratio of 0.95x.
Past Earnings Growth
  • Total earnings for the Healthcare industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 South African Healthcare sector?

ZA Market1.34%
Healthcare2.58%
Pharma2.84%
Healthcare Services2.20%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 35.3x.
    • Analysts are expecting annual earnings growth of 42.0%, which is higher than its past year's earnings growth of 17.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 48% over the next 5 years.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 42% 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
APN Aspen Pharmacare HoldingsR120.993.0%
+R1.5b		-29.0%PS1.2x
NTC NetcareR16.442.6%
+R500.6m		10.0%PE11.8x
LHC Life Healthcare Group HoldingsR11.801.7%
+R286.2m		-24.8%PS0.7x

Latest News

NTC
R16.44
Netcare
7D
2.6%
1Y
10.0%
APN
R120.99
Aspen Pharmacare Holdings
7D
3.0%
1Y
-29.0%

Aspen Pharmacare Holdings Limited's (JSE:APN) 29% Share Price Surge Not Quite Adding Up

Jan 10
Aspen Pharmacare Holdings Limited's (JSE:APN) 29% Share Price Surge Not Quite Adding Up
LHC
R11.80
Life Healthcare Group Holdings
7D
1.7%
1Y
-24.8%

LHC: Dividend Declaration Will Support Confidence Despite Revised Earnings Guidance

Analysts have cut their price target on Life Healthcare Group Holdings from R18.60 to R14.50, pointing to updated assumptions that include a revised discount rate, adjusted revenue growth and profit margin expectations, and a lower forward P/E multiple. What's in the News The board approved a final gross cash dividend of R0.35 per ordinary share, declared from income reserves and subject to a 20% South African dividend withholding tax for shareholders who are not exempt, resulting in a net dividend of R0.28 per share.
CCC
R2.00
Cilo Cybin Holdings
7D
-7.8%
1Y
-47.4%