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South African (JSE) Healthcare Sector Analysis

UpdatedSep 19, 2025
DataAggregated Company Financials
Companies6
  • 7D-6.3%
  • 3M-10.5%
  • 1Y-34.1%
  • YTD-29.8%

Over the last 7 days, the Healthcare industry has dropped 6.3%, driven by a pullback from Life Healthcare Group Holdings of 18%. Meanwhile, Ascendis Health actually outperformed within the industry, gaining 11% in the last week. Overall the industry is down 34% in 12 months. As for the next few years, earnings are expected to grow by 39% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025R89.5bR105.7bR381.2m12.3x234.7x0.8x
Sun, 17 Aug 2025R97.8bR108.4bR5.9b12.3x16.7x0.9x
Tue, 15 Jul 2025R95.3bR108.4bR5.9b11x16.3x0.9x
Thu, 12 Jun 2025R100.5bR108.4bR5.9b12.1x17.2x0.9x
Sat, 10 May 2025R101.9bR106.9bR8.7b12.2x11.8x1x
Mon, 07 Apr 2025R108.8bR106.9bR8.7b13x12.6x1x
Wed, 05 Mar 2025R124.9bR107.6bR8.7b11.9x14.4x1.2x
Fri, 31 Jan 2025R130.8bR106.8bR8.7b12.7x15.1x1.2x
Sun, 29 Dec 2024R128.3bR106.8bR8.7b13.1x14.8x1.2x
Tue, 26 Nov 2024R128.3bR103.8bR8.0b15.8x16.1x1.2x
Thu, 24 Oct 2024R133.7bR103.8bR8.0b15.8x16.8x1.3x
Sat, 21 Sep 2024R136.1bR103.8bR8.0b15.2x17.1x1.3x
Mon, 19 Aug 2024R147.2bR101.3bR8.4b13.7x17.6x1.5x
Wed, 17 Jul 2024R147.2bR101.3bR8.4b12.9x17.6x1.5x
Fri, 14 Jun 2024R143.0bR101.3bR8.4b12x17.1x1.4x
Sun, 12 May 2024R142.0bR100.0bR8.2b12.3x17.3x1.4x
Tue, 09 Apr 2024R137.9bR100.0bR8.2b12.5x16.8x1.4x
Thu, 07 Mar 2024R139.8bR100.0bR8.0b15.8x17.5x1.4x
Sat, 03 Feb 2024R138.5bR98.7bR8.3b15.3x16.6x1.4x
Mon, 01 Jan 2024R145.8bR98.7bR8.3b16.1x17.5x1.5x
Wed, 29 Nov 2023R134.1bR98.7bR8.3b14.9x16.1x1.4x
Fri, 27 Oct 2023R126.4bR105.1bR8.5b14.2x14.9x1.2x
Sun, 24 Sep 2023R133.3bR105.1bR8.5b14.9x15.7x1.3x
Tue, 22 Aug 2023R139.7bR102.7bR9.0b14.9x15.4x1.4x
Thu, 20 Jul 2023R140.4bR102.7bR9.0b15x15.5x1.4x
Sat, 17 Jun 2023R142.4bR102.7bR9.0b15.4x15.7x1.4x
Mon, 15 May 2023R137.4bR99.7bR8.9b16.3x15.4x1.4x
Wed, 12 Apr 2023R139.7bR99.7bR8.9b16.3x15.7x1.4x
Fri, 10 Mar 2023R135.8bR99.7bR8.4b15.8x16.2x1.4x
Sun, 05 Feb 2023R119.2bR99.6bR9.0b13.3x13.2x1.2x
Tue, 03 Jan 2023R113.3bR99.6bR9.0b13.1x12.6x1.1x
Thu, 01 Dec 2022R116.9bR99.6bR9.0b13.5x13x1.2x
Sat, 29 Oct 2022R125.2bR98.6bR8.8b14.4x14.2x1.3x
Mon, 26 Sep 2022R111.2bR99.1bR8.2b12.5x13.6x1.1x
Price to Earnings Ratio

13.6x


Total Market Cap: R111.2bTotal Earnings: R8.2bTotal Revenue: R99.1bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 18.7x202320242025
Current Industry PE
  • Investors are optimistic on the South African Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 235x which is higher than its 3-year average PE of 18.7x.
  • The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 0.85x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 64% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.2% 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 South African Healthcare sector?

ZA Market1.59%
Healthcare-6.34%
Pharma-4.01%
Healthcare Services-10.03%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 20.9x.
    • Analysts are expecting annual earnings growth of 30.6%, which is higher than its past year's earnings growth of 19.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 44% over the next 5 years.
  • This is better than its past earnings decline of 34% per year.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 31% 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
ASC Ascendis HealthR0.9111.0%
+R56.3m		23.0%PE50.5x
CCC Cilo Cybin HoldingsR2.951.0%
+R2.1m		-31.4%PB3.7x

Latest News

LHC
R11.30
Life Healthcare Group Holdings
7D
-17.5%
1Y
-28.6%
APN
R101.17
Aspen Pharmacare Holdings
7D
-4.8%
1Y
-47.3%

Commercial Pharma And GLP-1 Expansion Will Empower Future Progress

Aspen Pharmacare Holdings' consensus price target has decreased to ZAR120.60, reflecting concerns over a sharply higher future P/E and a substantial decline in net profit margin. What's in the News Aspen Pharmacare Holdings Limited announced an annual dividend of ZAR 2.1100 per share.
ASC
R0.91
Ascendis Health
7D
11.0%
1Y
23.0%
AIP
R71.80
Adcock Ingram Holdings
7D
-1.3%
1Y
10.5%
CCC
R2.95
Cilo Cybin Holdings
7D
1.0%
1Y
-31.4%
NTC
R13.89
Netcare
7D
-1.4%
1Y
-3.5%