South African (JSE) Healthcare Sector Analysis

Sector Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 13 Dec 2024	R129.9b	R106.8b	R8.7b	13.1x	15x	1.2x
Sun, 10 Nov 2024	R132.2b	R103.8b	R8.0b	15.9x	16.6x	1.3x
Tue, 08 Oct 2024	R139.7b	R103.8b	R8.0b	16.1x	17.6x	1.3x
Thu, 05 Sep 2024	R137.4b	R101.8b	R8.4b	13.8x	16.3x	1.4x
Sat, 03 Aug 2024	R152.8b	R101.3b	R8.4b	13.5x	18.2x	1.5x
Mon, 01 Jul 2024	R148.2b	R101.3b	R8.4b	13x	17.7x	1.5x
Wed, 29 May 2024	R142.9b	R101.3b	R8.4b	11.4x	17x	1.4x
Fri, 26 Apr 2024	R134.7b	R100.0b	R8.2b	11.7x	16.4x	1.3x
Sun, 24 Mar 2024	R143.8b	R100.0b	R8.0b	15.6x	18.1x	1.4x
Tue, 20 Feb 2024	R141.3b	R98.0b	R8.4b	15.7x	16.9x	1.4x
Thu, 18 Jan 2024	R143.3b	R98.7b	R8.3b	15.8x	17.2x	1.5x
Sat, 16 Dec 2023	R140.9b	R98.7b	R8.3b	15.4x	16.9x	1.4x
Mon, 13 Nov 2023	R128.9b	R105.1b	R8.5b	14.5x	15.2x	1.2x
Wed, 11 Oct 2023	R133.2b	R105.1b	R8.5b	14.8x	15.7x	1.3x
Fri, 08 Sep 2023	R129.0b	R105.1b	R8.5b	14.3x	15.2x	1.2x
Sun, 06 Aug 2023	R142.3b	R102.7b	R9.0b	15.1x	15.7x	1.4x
Tue, 04 Jul 2023	R139.3b	R102.7b	R9.0b	15.2x	15.4x	1.4x
Thu, 01 Jun 2023	R130.3b	R102.7b	R9.0b	14.3x	14.4x	1.3x
Sat, 29 Apr 2023	R141.3b	R99.7b	R8.9b	16.8x	15.9x	1.4x
Mon, 27 Mar 2023	R135.4b	R99.7b	R8.4b	15.8x	16.1x	1.4x
Wed, 22 Feb 2023	R123.4b	R99.6b	R9.0b	14.3x	13.7x	1.2x
Fri, 20 Jan 2023	R119.9b	R99.6b	R9.0b	13.4x	13.3x	1.2x
Sun, 18 Dec 2022	R112.0b	R99.6b	R9.0b	12.9x	12.4x	1.1x
Tue, 15 Nov 2022	R121.4b	R98.6b	R8.8b	13.8x	13.7x	1.2x
Thu, 13 Oct 2022	R116.1b	R98.6b	R8.8b	13x	13.1x	1.2x
Sat, 10 Sep 2022	R126.1b	R99.1b	R8.2b	14.8x	15.5x	1.3x
Mon, 08 Aug 2022	R124.3b	R98.6b	R7.5b	15.2x	16.6x	1.3x
Wed, 06 Jul 2022	R111.5b	R98.6b	R7.5b	13.6x	14.9x	1.1x
Fri, 03 Jun 2022	R125.7b	R98.6b	R7.5b	14.7x	16.8x	1.3x
Sun, 01 May 2022	R137.6b	R97.8b	R7.5b	15.9x	18.2x	1.4x
Tue, 29 Mar 2022	R152.5b	R97.3b	R7.5b	17.6x	20.4x	1.6x
Thu, 24 Feb 2022	R155.5b	R96.5b	R6.4b	20.2x	24.4x	1.6x
Sat, 22 Jan 2022	R160.4b	R94.5b	R7.8b	20.1x	20.5x	1.7x
Mon, 20 Dec 2021	R163.7b	R94.5b	R7.8b	20.7x	20.9x	1.7x

Current Industry PE

Investors are relatively neutral on the South African Healthcare industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 16.5x.

The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.2x.

Past Earnings Growth

The earnings for companies in the Healthcare industry have grown 3.4% per year over the last three years.
Revenues for these companies have grown 4.2% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the South African Healthcare sector?


ZA Market	0.34%
Healthcare	0.041%
Healthcare Services	0.69%
Medical Equipment	0%
Healthtech	0%
Biotech	0%
Life Sciences	0%
Pharma	-0.29%

Industry PE

Investors are most optimistic about the Pharma industry, which is trading close to its 3-year average PE ratio of 15.9x.

Analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings decline of 12.6% per year.

Investors are most pessimistic about the Healthcare Services industry, which is trading below its 3-year average of 18.1x.

Forecasted Growth

Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 22% over the next 5 years.
This is better than its past earnings decline of 13% per year.

In contrast, the Healthcare Services industry is expected to see its earnings grow by 11% per year over the next few years.

Company	Last Price	7D	1Y	Valuation
NTC Netcare	R15.15	2.0% +R374.4m	12.2%	PE13.4x
AIP Adcock Ingram Holdings	R66.99	0.3% +R30.8m	14.2%	PE12.1x
ASC Ascendis Health	R0.73	2.8% +R12.5m	-7.6%	PE11x

Company

Last Price

Valuation

NTC Netcare

R15.15

2.0%
+R374.4m

12.2%

PE13.4x

AIP Adcock Ingram Holdings

R66.99

0.3%
+R30.8m

14.2%