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South African (JSE) Healthcare Sector Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies4
  • 7D-4.2%
  • 3M17.7%
  • 1Y-18.6%
  • YTD7.5%

Over the last 7 days, the Healthcare industry has dropped 4.2%, driven by pullbacks from every company within the industry. However, the industry is down 19% over the past year. Looking forward, earnings are forecast to grow by 49% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026R92.8bR94.3b-R1,903,655,123.0011.3x-48.8x1x
Mon, 16 Feb 2026R91.2bR95.1b-R1,180,655,123.0011.4x-77.2x1x
Wed, 14 Jan 2026R89.9bR95.1b-R1,180,655,123.0011.5x-76.2x0.9x
Fri, 12 Dec 2025R75.4bR95.1b-R1,180,655,123.0010.9x-63.9x0.8x
Sun, 09 Nov 2025R89.4bR105.7bR381.2m12.8x234.5x0.8x
Tue, 07 Oct 2025R89.2bR105.7bR381.2m12.4x234x0.8x
Thu, 04 Sep 2025R91.9bR106.4bR388.0m12.3x237x0.9x
Sat, 02 Aug 2025R97.8bR108.4bR5.9b12.4x16.7x0.9x
Mon, 30 Jun 2025R97.8bR108.4bR5.9b11.8x16.7x0.9x
Wed, 28 May 2025R99.4bR108.4bR5.9b12x16.9x0.9x
Fri, 25 Apr 2025R97.9bR106.9bR8.7b11.6x11.3x0.9x
Sun, 23 Mar 2025R122.2bR107.6bR8.7b11.8x14.1x1.1x
Tue, 18 Feb 2025R124.1bR106.8bR8.7b11.9x14.3x1.2x
Thu, 16 Jan 2025R126.2bR106.8bR8.7b13x14.6x1.2x
Sat, 14 Dec 2024R129.5bR106.8bR8.7b13x15x1.2x
Mon, 11 Nov 2024R132.2bR103.8bR8.0b15.9x16.6x1.3x
Wed, 09 Oct 2024R140.2bR103.8bR8.0b16x17.6x1.4x
Fri, 06 Sep 2024R137.0bR103.8bR8.0b13.9x17.2x1.3x
Sun, 04 Aug 2024R152.8bR101.3bR8.4b13.5x18.2x1.5x
Tue, 02 Jul 2024R146.6bR101.3bR8.4b13.2x17.5x1.4x
Thu, 30 May 2024R142.9bR101.3bR8.4b11.4x17x1.4x
Sat, 27 Apr 2024R137.1bR100.0bR8.2b11.9x16.7x1.4x
Mon, 25 Mar 2024R143.8bR100.0bR8.0b15.6x18.1x1.4x
Wed, 21 Feb 2024R140.1bR98.0bR8.4b15.5x16.8x1.4x
Fri, 19 Jan 2024R145.0bR98.7bR8.3b16.2x17.4x1.5x
Sun, 17 Dec 2023R140.9bR98.7bR8.3b15.4x16.9x1.4x
Tue, 14 Nov 2023R127.7bR105.1bR8.5b14.3x15.1x1.2x
Thu, 12 Oct 2023R133.7bR105.1bR8.5b14.9x15.8x1.3x
Sat, 09 Sep 2023R130.1bR105.1bR8.5b14.5x15.3x1.2x
Mon, 07 Aug 2023R142.3bR102.7bR9.0b15.1x15.7x1.4x
Wed, 05 Jul 2023R139.2bR102.7bR9.0b15.2x15.4x1.4x
Fri, 02 Jun 2023R132.8bR102.7bR9.0b14.5x14.7x1.3x
Sun, 30 Apr 2023R141.3bR99.7bR8.9b16.8x15.9x1.4x
Tue, 28 Mar 2023R138.3bR99.7bR8.4b16.1x16.5x1.4x
Price to Earnings Ratio

16.5x


Total Market Cap: R138.3bTotal Earnings: R8.4bTotal Revenue: R99.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 19.4x202420252026
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 0.98x.
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 Market-4.18%
Healthcare-4.20%
Healthcare Services-3.12%
Pharma-4.81%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 50.9x.
    • Analysts are expecting annual earnings growth of 36.4%, 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 56% over the next 5 years.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 36% 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
NTC NetcareR16.020.9%
+R178.8m		22.7%PE11.5x
CCC Cilo Cybin HoldingsR2.000.5%
+R2.9m		-35.9%PS80.8x

Latest News

LHC
R10.76
Life Healthcare Group Holdings
7D
-3.4%
1Y
-23.0%

LHC: JPMorgan Upgrade And Institutional Buying Will Support Future Upside

Analysts have adjusted their ZAR price target for Life Healthcare Group Holdings to ZAR13.70, reflecting updated assumptions on revenue growth, profit margins, and future P/E following recent supportive research commentary, including the latest upgrade from JPMorgan. Analyst Commentary Bullish analysts are pointing to the recent ZAR13.70 price target as a sign of growing confidence in Life Healthcare Group Holdings' ability to support its current valuation through cash flow and earnings delivery.
APN
R131.41
Aspen Pharmacare Holdings
7D
-0.8%
1Y
-24.8%
NTC
R16.02
Netcare
7D
0.9%
1Y
22.7%

NTC: Dividend Payout And Share Buybacks Will Support A Balanced Outlook

Analysts have nudged their Netcare fair value estimate slightly higher from ZAR17.04 to ZAR17.08, citing updated assumptions around discount rates, revenue growth, profit margins, and a modestly adjusted future P/E multiple. What's in the News On January 29, 2026, Ninety One SA (Pty) Ltd.
CCC
R2.00
Cilo Cybin Holdings
7D
0.5%
1Y
-35.9%