Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Healthcare Sector Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies4
  • 7D-3.1%
  • 3M21.8%
  • 1Y-18.4%
  • YTD9.2%

Over the last 7 days, the Healthcare industry has dropped 3.1%, driven by Aspen Pharmacare Holdings declining 4.7%. Meanwhile, Cilo Cybin Holdings actually outperformed within the industry, gaining 22% in the last week. The industry has fallen 18% in the last year. As for the next few years, earnings are expected to grow by 49% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026R94.3bR94.3b-R1,903,655,123.0011.4x-49.5x1x
Fri, 13 Feb 2026R87.3bR95.1b-R1,180,655,123.0011.2x-74x0.9x
Sun, 11 Jan 2026R88.5bR95.1b-R1,180,655,123.0011.5x-75x0.9x
Tue, 09 Dec 2025R76.3bR95.1b-R1,169,378,123.0031x-65.2x0.8x
Thu, 06 Nov 2025R89.9bR105.7bR381.2m12.8x235.8x0.9x
Sat, 04 Oct 2025R89.3bR105.7bR381.2m12.4x234.3x0.8x
Mon, 01 Sep 2025R94.9bR108.6bR5.9b11.7x15.9x0.9x
Wed, 30 Jul 2025R102.2bR108.4bR5.9b12.8x17.5x0.9x
Fri, 27 Jun 2025R97.0bR108.4bR5.9b11.6x16.6x0.9x
Sun, 25 May 2025R99.8bR108.4bR5.9b11.8x17x0.9x
Tue, 22 Apr 2025R117.3bR106.9bR8.7b13.8x13.6x1.1x
Thu, 20 Mar 2025R125.1bR107.6bR8.7b11.9x14.4x1.2x
Sat, 15 Feb 2025R124.4bR106.8bR8.7b12.1x14.4x1.2x
Mon, 13 Jan 2025R127.5bR106.8bR8.7b13.4x14.7x1.2x
Wed, 11 Dec 2024R129.2bR106.8bR8.7b13x14.9x1.2x
Fri, 08 Nov 2024R132.9bR103.8bR8.0b15.6x16.7x1.3x
Sun, 06 Oct 2024R140.3bR103.8bR8.0b16.2x17.6x1.4x
Tue, 03 Sep 2024R153.4bR101.8bR8.3b14.6x18.4x1.5x
Thu, 01 Aug 2024R156.9bR101.3bR8.4b13.6x18.7x1.5x
Sat, 29 Jun 2024R148.2bR101.3bR8.4b13x17.7x1.5x
Mon, 27 May 2024R140.6bR101.3bR8.4b11.7x16.8x1.4x
Wed, 24 Apr 2024R133.4bR100.0bR8.2b11.7x16.3x1.3x
Fri, 22 Mar 2024R143.6bR100.0bR8.0b15.7x18x1.4x
Sun, 18 Feb 2024R140.9bR98.0bR8.4b15.6x16.9x1.4x
Tue, 16 Jan 2024R145.1bR98.7bR8.3b15.8x17.4x1.5x
Thu, 14 Dec 2023R137.9bR98.7bR8.3b15x16.6x1.4x
Sat, 11 Nov 2023R128.9bR105.1bR8.5b14.5x15.2x1.2x
Mon, 09 Oct 2023R133.1bR105.1bR8.5b14.8x15.7x1.3x
Wed, 06 Sep 2023R130.7bR105.1bR8.5b14.5x15.4x1.2x
Fri, 04 Aug 2023R140.3bR102.7bR9.0b14.9x15.5x1.4x
Sun, 02 Jul 2023R140.0bR102.7bR9.0b15.2x15.5x1.4x
Tue, 30 May 2023R132.9bR102.7bR9.0b14.8x14.7x1.3x
Thu, 27 Apr 2023R140.4bR99.7bR8.9b16.7x15.8x1.4x
Sat, 25 Mar 2023R135.4bR99.7bR8.4b15.8x16.1x1.4x
Price to Earnings Ratio

16.1x


Total Market Cap: R135.4bTotal Earnings: R8.4bTotal Revenue: R99.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 19.6x202420252026
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 1.00x.
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-2.06%
Healthcare-3.14%
Healthcare Services-2.00%
Pharma-3.79%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 50.2x.
    • Analysts are expecting annual earnings growth of 36.7%, 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 37% 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
CCC Cilo Cybin HoldingsR1.9922.1%
+R103.7m		-50.5%PS80.4x

Latest News

APN
R132.59
Aspen Pharmacare Holdings
7D
-4.7%
1Y
-25.8%
LHC
R11.19
Life Healthcare Group Holdings
7D
-1.4%
1Y
-18.3%

LHC: JPMorgan Upgrade And Margin Resilience Will Support Future Return Potential

Narrative update on Life Healthcare Group Holdings Analysts have lifted their price target on Life Healthcare Group Holdings to ZAR12.86. The change is linked to updated views on its fair value, discount rate, revenue growth, profit margin and future P/E assumptions reflected in recent research such as the JPMorgan upgrade.
NTC
R16.32
Netcare
7D
-0.4%
1Y
26.1%

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
R1.99
Cilo Cybin Holdings
7D
22.1%
1Y
-50.5%