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South African (JSE) Healthcare Sector Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies4
  • 7D1.7%
  • 3M29.8%
  • 1Y-13.0%
  • YTD15.8%

The Healthcare industry is up 1.7% in the last week, with Aspen Pharmacare Holdings up 5.3%. During this same period, the Life Healthcare Group Holdings underperformed, falling 5.8%. In the past year, the industry is down 13%. As for the next few years, earnings are expected to grow by 48% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Mar 2026R100.0bR94.3b-R1,903,655,123.0011.9x-52.5x1.1x
Sun, 01 Feb 2026R82.7bR95.1b-R1,180,655,123.0011.2x-70x0.9x
Tue, 30 Dec 2025R88.1bR95.1b-R1,180,655,123.0011.4x-74.6x0.9x
Thu, 27 Nov 2025R75.6bR96.4b-R558,378,123.0031.5x-135.4x0.8x
Sat, 25 Oct 2025R92.3bR105.7bR381.2m12.7x242.2x0.9x
Mon, 22 Sep 2025R89.9bR105.7bR381.2m12.3x236x0.9x
Wed, 20 Aug 2025R98.1bR108.4bR5.9b12.4x16.8x0.9x
Fri, 18 Jul 2025R94.0bR108.4bR5.9b11x16.1x0.9x
Sun, 15 Jun 2025R98.5bR108.4bR5.9b11.8x16.8x0.9x
Tue, 13 May 2025R101.7bR106.9bR8.7b12.2x11.7x1x
Thu, 10 Apr 2025R108.1bR106.9bR8.7b12.9x12.5x1x
Sat, 08 Mar 2025R123.6bR107.6bR8.7b12x14.2x1.1x
Mon, 03 Feb 2025R130.4bR106.8bR8.7b12.6x15.1x1.2x
Wed, 01 Jan 2025R126.2bR106.8bR8.7b14.1x14.6x1.2x
Fri, 29 Nov 2024R128.1bR106.8bR8.7b12.9x14.8x1.2x
Sun, 27 Oct 2024R133.6bR103.8bR8.0b15.9x16.8x1.3x
Tue, 24 Sep 2024R136.1bR103.8bR8.0b15.2x17.1x1.3x
Thu, 22 Aug 2024R150.7bR101.3bR8.4b14.3x18x1.5x
Sat, 20 Jul 2024R146.6bR101.3bR8.4b12.9x17.5x1.4x
Mon, 17 Jun 2024R140.5bR101.3bR8.4b12.5x16.8x1.4x
Wed, 15 May 2024R140.4bR100.0bR8.2b12x17.1x1.4x
Fri, 12 Apr 2024R137.5bR100.0bR8.2b12.2x16.8x1.4x
Sun, 10 Mar 2024R141.1bR100.0bR8.0b15.9x17.7x1.4x
Tue, 06 Feb 2024R139.5bR98.0bR8.4b15.5x16.7x1.4x
Thu, 04 Jan 2024R144.8bR98.7bR8.3b15.9x17.4x1.5x
Sat, 02 Dec 2023R135.7bR98.7bR8.3b15.1x16.3x1.4x
Mon, 30 Oct 2023R126.3bR105.1bR8.5b14.1x14.9x1.2x
Wed, 27 Sep 2023R135.2bR105.1bR8.5b15x15.9x1.3x
Fri, 25 Aug 2023R140.3bR102.8bR9.1b14.8x15.5x1.4x
Sun, 23 Jul 2023R142.6bR102.7bR9.0b15.2x15.8x1.4x
Tue, 20 Jun 2023R141.6bR102.7bR9.0b15.2x15.7x1.4x
Thu, 18 May 2023R134.8bR99.7bR8.9b16.2x15.1x1.4x
Sat, 15 Apr 2023R139.1bR99.7bR8.9b16.2x15.6x1.4x
Mon, 13 Mar 2023R140.7bR99.7bR8.4b16.5x16.7x1.4x
Price to Earnings Ratio

16.7x


Total Market Cap: R140.7bTotal Earnings: R8.4bTotal Revenue: R99.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Healthcare Sector Price to Earnings3Y Average 20.3x202420252026
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 1.1x.
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-5.01%
Healthcare1.68%
Pharma5.31%
Healthcare Services-4.14%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 47.4x.
    • Analysts are expecting annual earnings growth of 39.1%, 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 53% over the next 5 years.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 39% 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 HoldingsR138.031.9%
+R1.2b		-21.9%PS1.4x
CCC Cilo Cybin HoldingsR1.638.7%
+R37.5m		-63.8%PS65.8x

Latest News

APN
R138.03
Aspen Pharmacare Holdings
7D
1.9%
1Y
-21.9%
LHC
R11.33
Life Healthcare Group Holdings
7D
-6.5%
1Y
-20.2%

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
R16.24
Netcare
7D
-5.4%
1Y
25.0%

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
R1.63
Cilo Cybin Holdings
7D
8.7%
1Y
-63.8%