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South African (JSE) Healthcare Sector Analysis

UpdatedFeb 28, 2026
DataAggregated Company Financials
Companies4
  • 7D6.0%
  • 3M28.2%
  • 1Y-11.3%
  • YTD13.9%

The Healthcare industry is up 6.0% in the last week, with Aspen Pharmacare Holdings up 7.7%. Meanwhile, Cilo Cybin Holdings actually underperformed within the industry, shrinking 24% in the last week. However, the industry is down 12% over the past year. Looking forward, earnings are forecast to grow by 45% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Feb 2026R98.4bR95.1b-R1,180,655,123.0012.4x-83.3x1x
Mon, 26 Jan 2026R86.0bR95.1b-R1,180,655,123.0011.3x-72.9x0.9x
Wed, 24 Dec 2025R78.3bR95.1b-R1,180,655,123.0011.5x-66.3x0.8x
Fri, 21 Nov 2025R76.5bR95.9b-R477,308,716.0032.7x-160.4x0.8x
Sun, 19 Oct 2025R91.0bR105.7bR381.2m12.6x238.8x0.9x
Tue, 16 Sep 2025R94.3bR105.7bR381.2m12.5x247.3x0.9x
Thu, 14 Aug 2025R99.8bR108.4bR5.9b12.5x17.1x0.9x
Sat, 12 Jul 2025R97.6bR108.4bR5.9b11.3x16.7x0.9x
Mon, 09 Jun 2025R100.3bR108.4bR5.9b12x17.1x0.9x
Wed, 07 May 2025R100.2bR106.9bR8.7b12x11.6x0.9x
Fri, 04 Apr 2025R114.9bR106.9bR8.7b13.6x13.3x1.1x
Sun, 02 Mar 2025R119.6bR106.8bR8.6b12.4x13.9x1.1x
Tue, 28 Jan 2025R127.8bR106.8bR8.7b12.7x14.8x1.2x
Thu, 26 Dec 2024R129.5bR106.8bR8.7b13.4x15x1.2x
Sat, 23 Nov 2024R130.0bR103.8bR8.0b16.1x16.3x1.3x
Mon, 21 Oct 2024R134.2bR103.8bR8.0b15.6x16.9x1.3x
Wed, 18 Sep 2024R137.6bR103.8bR8.0b14.9x17.3x1.3x
Fri, 16 Aug 2024R146.4bR101.3bR8.4b13.6x17.5x1.4x
Sun, 14 Jul 2024R147.5bR101.3bR8.4b12.4x17.6x1.5x
Tue, 11 Jun 2024R144.8bR101.3bR8.4b11.9x17.3x1.4x
Thu, 09 May 2024R141.2bR100.0bR8.2b12.1x17.2x1.4x
Sat, 06 Apr 2024R138.0bR100.0bR8.2b12.6x16.8x1.4x
Mon, 04 Mar 2024R139.7bR98.0bR8.3b15.5x16.8x1.4x
Wed, 31 Jan 2024R141.1bR98.7bR8.3b15.5x16.9x1.4x
Fri, 29 Dec 2023R145.1bR98.7bR8.3b15.9x17.4x1.5x
Sun, 26 Nov 2023R133.6bR98.7bR8.3b14.8x16x1.4x
Tue, 24 Oct 2023R127.1bR105.1bR8.5b14.3x15x1.2x
Thu, 21 Sep 2023R134.7bR105.1bR8.5b15.1x15.9x1.3x
Sat, 19 Aug 2023R139.7bR102.7bR9.0b14.6x15.4x1.4x
Mon, 17 Jul 2023R138.7bR102.7bR9.0b14.9x15.3x1.4x
Wed, 14 Jun 2023R138.6bR102.7bR9.0b15.1x15.3x1.3x
Fri, 12 May 2023R135.4bR99.7bR8.9b16.1x15.2x1.4x
Sun, 09 Apr 2023R140.2bR99.7bR8.9b16.3x15.8x1.4x
Tue, 07 Mar 2023R132.5bR99.7bR8.4b15.5x15.8x1.3x
Price to Earnings Ratio

15.8x


Total Market Cap: R132.5bTotal Earnings: R8.4bTotal Revenue: R99.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 20.8x202420252026
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 1.0x.
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 Market3.99%
Healthcare6.04%
Pharma7.52%
Healthcare Services3.76%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 45.6x.
    • Analysts are expecting annual earnings growth of 39.5%, 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 40% 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 HoldingsR135.417.7%
+R4.3b		-17.1%PS1.4x
NTC NetcareR17.175.3%
+R1.0b		27.2%PE12.4x
LHC Life Healthcare Group HoldingsR12.122.0%
+R343.4m		-17.9%PS0.7x

Latest News

NTC
R17.17
Netcare
7D
5.3%
1Y
27.2%

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.
LHC
R12.12
Life Healthcare Group Holdings
7D
2.0%
1Y
-17.9%
APN
R135.41
Aspen Pharmacare Holdings
7D
7.7%
1Y
-17.1%
CCC
R1.50
Cilo Cybin Holdings
7D
-11.8%
1Y
-64.6%