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Australian (ASX) Market Analysis & Valuation

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies1575
  • 7D0.2%
  • 3M0.3%
  • 1Y5.8%
  • YTD-0.8%

The Materials sector gained 4.1% while the market remained flat over the last week. Meanwhile, the market is actually up 5.8% over the past year. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Australian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 May 2026AU$2.9tAU$1.2tAU$111.9b17.4x26.2x2.5x
Mon, 06 Apr 2026AU$2.9tAU$1.2tAU$114.6b17.2x25x2.4x
Wed, 04 Mar 2026AU$3.0tAU$1.2tAU$111.3b19.9x27.3x2.5x
Fri, 30 Jan 2026AU$3.0tAU$1.2tAU$107.9b21.5x28.2x2.6x
Sun, 28 Dec 2025AU$3.0tAU$1.2tAU$109.6b21.7x27.2x2.5x
Tue, 25 Nov 2025AU$2.9tAU$1.2tAU$109.9b21x26.1x2.4x
Thu, 23 Oct 2025AU$2.9tAU$1.2tAU$103.8b21.7x28.2x2.5x
Sat, 20 Sep 2025AU$3.0tAU$1.2tAU$110.8b20.7x26.8x2.5x
Mon, 18 Aug 2025AU$3.0tAU$1.2tAU$105.6b19x28.5x2.5x
Wed, 16 Jul 2025AU$2.9tAU$1.2tAU$102.2b18.8x28.4x2.4x
Fri, 13 Jun 2025AU$2.9tAU$1.2tAU$102.5b18.2x27.9x2.4x
Sun, 11 May 2025AU$2.8tAU$1.2tAU$103.6b17.8x26.5x2.3x
Tue, 08 Apr 2025AU$2.4tAU$1.2tAU$106.9b16.7x22.8x2x
Thu, 06 Mar 2025AU$2.7tAU$1.2tAU$104.9b17.6x25.9x2.2x
Sat, 01 Feb 2025AU$2.8tAU$1.2tAU$90.2b19.8x31.3x2.4x
Mon, 30 Dec 2024AU$2.7tAU$1.2tAU$90.1b19.9x30.3x2.3x
Wed, 27 Nov 2024AU$2.8tAU$1.2tAU$88.4b19.4x31.2x2.4x
Fri, 25 Oct 2024AU$2.7tAU$1.2tAU$88.0b19.8x30.8x2.3x
Sun, 22 Sep 2024AU$2.7tAU$1.2tAU$87.8b19.4x30.9x2.3x
Tue, 20 Aug 2024AU$2.6tAU$1.1tAU$91.0b19.7x28.9x2.3x
Thu, 18 Jul 2024AU$2.7tAU$1.1tAU$90.9b19.5x29.5x2.3x
Sat, 15 Jun 2024AU$2.6tAU$1.2tAU$92.3b18.9x27.9x2.2x
Mon, 13 May 2024AU$2.6tAU$1.2tAU$93.1b19.8x27.7x2.2x
Wed, 10 Apr 2024AU$2.6tAU$1.2tAU$94.7b20.4x27.6x2.2x
Fri, 08 Mar 2024AU$2.6tAU$1.2tAU$96.4b19.8x26.9x2.2x
Sun, 04 Feb 2024AU$2.6tAU$1.2tAU$116.2b19x22.1x2.2x
Tue, 02 Jan 2024AU$2.6tAU$1.2tAU$114.5b18.8x22.3x2.2x
Thu, 30 Nov 2023AU$2.4tAU$1.2tAU$115.9b17.9x20.3x2x
Sat, 28 Oct 2023AU$2.3tAU$1.2tAU$118.4b17.4x19.7x1.9x
Mon, 25 Sep 2023AU$2.4tAU$1.2tAU$119.9b17.7x19.9x2x
Wed, 23 Aug 2023AU$2.4tAU$1.2tAU$130.3b16.8x18.4x2x
Fri, 21 Jul 2023AU$2.5tAU$1.2tAU$143.8b16.5x17.1x2.1x
Sun, 18 Jun 2023AU$2.4tAU$1.2tAU$143.6b16x16.9x2.1x
Tue, 16 May 2023AU$2.4tAU$1.2tAU$145.4b16.3x16.8x2.1x
Price to Earnings Ratio

16.8x


Total Market Cap: AU$2.4tTotal Earnings: AU$145.4bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 25.6x202420252026
Current Market PE
  • Investors are relatively neutral on the Australian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 25.6x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 8.3% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market0.20%
Materials4.15%
Industrials1.24%
Telecom0.33%
Tech0.27%
Financials-0.16%
Real Estate-0.84%
Healthcare-2.43%
Consumer Discretionary-2.60%
Consumer Staples-3.08%
Utilities-4.33%
Energy-7.63%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 18.3%, which is higher than its past year's earnings growth of 14.0% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 170x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 22% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Financials sector is expected to see its earnings grow by 5.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
BHP BHP GroupAU$57.955.5%
+AU$15.3b		54.4%PE20.8xMaterials
CBA Commonwealth Bank of AustraliaAU$175.911.7%
+AU$4.8b		5.3%PB3.8xFinancials
FMG FortescueAU$21.276.3%
+AU$3.9b		33.3%PE12.7xMaterials
ANZ ANZ Group HoldingsAU$36.793.3%
+AU$3.6b		26.9%PB1.6xFinancials
EVN Evolution MiningAU$13.057.4%
+AU$1.8b		51.2%PE20xMaterials
See more

Market Insights

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Latest News

BHP
AU$57.95
BHP Group
7D
5.5%
1Y
54.4%
CSL
AU$119.88
CSL
7D
-4.0%
1Y
-49.9%
GGP
AU$14.90
Greatland Resources
7D
10.4%
1Y
n/a
WBC
AU$37.44
Westpac Banking
7D
-2.6%
1Y
20.0%
NAB
AU$38.36
National Australia Bank
7D
-3.7%
1Y
5.0%
WES
AU$72.25
Wesfarmers
7D
-1.6%
1Y
-10.0%
STO
AU$7.52
Santos
7D
-6.2%
1Y
24.1%
ANZ
AU$36.79
ANZ Group Holdings
7D
3.3%
1Y
26.9%
COL
AU$21.63
Coles Group
7D
-5.6%
1Y
-3.8%
REA
AU$176.89
REA Group
7D
3.9%
1Y
-27.8%
WDS
AU$30.05
Woodside Energy Group
7D
-9.3%
1Y
47.3%
TCL
AU$14.42
Transurban Group
7D
2.6%
1Y
0.4%
Narrative Update • Apr 24

TCL: Traffic Resilience And Higher Margins Will Support A Fairly Valued Outlook

Analysts have slightly reduced their price target for Transurban Group by A$0.05 to A$13.94 as they factor in updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Transurban reported Average Daily Traffic (ADT) growth of 3.6% for March 2026, giving you a recent snapshot of usage across its toll road network (company announcement).
FMG
AU$21.27
Fortescue
7D
6.3%
1Y
33.3%
Narrative Update • Apr 23

FMG: Reset Commodity Deck And Steady Shipments Will Support Fair Value

Analysts have reduced their Fortescue price target by A$1.20 to A$17.20, citing updated longer term commodity price forecasts across key metals and mining benchmarks. Analyst Commentary Bullish Takeaways Bullish analysts may view the A$17.20 target as still reflecting confidence that Fortescue can execute within the updated commodity price deck, even with more conservative long term assumptions for key metals.
EVN
AU$13.05
Evolution Mining
7D
7.4%
1Y
51.2%
Narrative Update • Apr 22

EVN: Higher Metal Price Assumptions Will Support Dividend Strength Under Rising Geopolitical Risk

Analysts have lifted their fair value estimate for Evolution Mining from A$18.25 to A$18.70, reflecting updated commodity price decks and price target increases across recent research that reassess the stock under tighter commodity balances and higher geopolitical risk. Analyst Commentary Recent research on Evolution Mining has become more constructive, with several bullish analysts revisiting their assumptions on commodity prices and risk.
CBA
AU$175.91
Commonwealth Bank of Australia
7D
1.7%
1Y
5.3%
Narrative Update • Apr 21

CBA: Premium P/E Will Be Capped By Margin And Pricing Risks

Analysts have trimmed the Commonwealth Bank of Australia fair value estimate by A$1.07 to A$142.00, reflecting refreshed assumptions around revenue growth, margins, and a slightly lower future P/E multiple. Analyst Commentary Recent research on Commonwealth Bank of Australia has centered on how updated assumptions for revenue growth, margins, and valuation multiples feed into fair value.
YAL
AU$6.66
Yancoal Australia
7D
-13.3%
1Y
32.9%