Pro Medicus Limited

ASX:PME Stock Report

Market Cap: AU$26.9b

Pro Medicus Valuation

Is PME undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PME when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PME (A$257.75) is trading above our estimate of fair value (A$46.29)

Significantly Below Fair Value: PME is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PME?

Key metric: As PME barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for PME. This is calculated by dividing PME's market cap by their current book value.
What is PME's PB Ratio?
PB Ratio143.5x
BookAU$187.73m
Market CapAU$26.93b

Price to Book Ratio vs Peers

How does PME's PB Ratio compare to its peers?

The above table shows the PB ratio for PME vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average10.2x
COH Cochlear
10.5x11.7%AU$19.4b
ONE Oneview Healthcare
25.2x42.1%AU$219.2m
MDR MedAdvisor
2.5x74.9%AU$126.8m
CGS Cogstate
2.7x6.6%AU$178.2m
PME Pro Medicus
143.5x21.0%AU$26.9b

Price-To-Book vs Peers: PME is expensive based on its Price-To-Book Ratio (143.5x) compared to the peer average (10.2x).

Price to Book Ratio vs Industry

How does PME's PB Ratio compare vs other companies in the AU Healthcare Services Industry?

0 CompaniesPrice / BookEstimated GrowthMarket Cap
No more companies available in this PB range
PME 143.5xIndustry Avg. 2.6xNo. of Companies4PB0246810+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: PME is expensive based on its Price-To-Book Ratio (143.5x) compared to the Global Healthcare Services industry average (2.6x).

Price to Book Ratio vs Fair Ratio

What is PME's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PME PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio143.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate PME's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PME forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$257.75
AU$188.39
-26.9%
38.2%AU$300.00AU$45.00n/a15
Dec ’25AU$251.89
AU$166.99
-33.7%
36.0%AU$275.00AU$43.00n/a14
Nov ’25AU$195.80
AU$142.85
-27.0%
27.5%AU$200.00AU$37.00n/a14
Oct ’25AU$180.61
AU$136.42
-24.5%
24.7%AU$193.00AU$37.00n/a14
Sep ’25AU$150.70
AU$128.25
-14.9%
27.0%AU$160.00AU$37.00n/a15
Aug ’25AU$144.32
AU$106.81
-26.0%
28.4%AU$152.68AU$34.50n/a15
Jul ’25AU$135.66
AU$104.34
-23.1%
28.4%AU$152.68AU$34.50n/a15
Jun ’25AU$120.12
AU$102.54
-14.6%
28.7%AU$152.68AU$34.50n/a15
May ’25AU$109.25
AU$95.57
-12.5%
29.7%AU$152.68AU$34.50n/a15
Apr ’25AU$103.75
AU$88.64
-14.6%
24.7%AU$120.00AU$34.50n/a14
Mar ’25AU$103.39
AU$88.64
-14.3%
24.7%AU$120.00AU$34.50n/a14
Feb ’25AU$100.64
AU$77.32
-23.2%
19.6%AU$100.00AU$34.50n/a12
Jan ’25AU$95.83
AU$78.14
-18.5%
19.0%AU$100.00AU$34.50n/a13
Dec ’24AU$88.06
AU$73.52
-16.5%
22.5%AU$90.00AU$34.50AU$251.8913
Nov ’24AU$78.40
AU$71.99
-8.2%
22.0%AU$88.80AU$34.50AU$195.8013
Oct ’24AU$83.39
AU$71.61
-14.1%
22.3%AU$88.80AU$33.50AU$180.6113
Sep ’24AU$72.96
AU$67.29
-7.8%
21.2%AU$80.00AU$31.00AU$150.7013
Aug ’24AU$69.02
AU$61.68
-10.6%
20.8%AU$79.33AU$30.00AU$144.3213
Jul ’24AU$65.64
AU$59.24
-9.8%
20.2%AU$79.33AU$30.00AU$135.6613
Jun ’24AU$61.65
AU$58.04
-5.9%
19.3%AU$71.00AU$30.00AU$120.1212
May ’24AU$60.48
AU$59.41
-1.8%
17.8%AU$71.00AU$28.50AU$109.2511
Apr ’24AU$63.87
AU$59.41
-7.0%
17.8%AU$71.00AU$28.50AU$103.7511
Mar ’24AU$60.90
AU$56.65
-7.0%
21.2%AU$71.00AU$28.50AU$103.3912
Feb ’24AU$65.37
AU$54.03
-17.4%
20.4%AU$71.00AU$30.00AU$100.6412
Jan ’24AU$55.26
AU$53.76
-2.7%
20.3%AU$71.00AU$30.00AU$95.8312
Dec ’23AU$59.70
AU$52.90
-11.4%
19.6%AU$68.71AU$30.00AU$88.0611

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 00:12
End of Day Share Price 2024/12/30 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Pro Medicus Limited is covered by 24 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Josh KannourakisBarrenjoey Markets Pty Limited
John HesterBell Potter
Scott PowerCGS International