Pro Medicus Ltd (PME) Fair Value & Analysis
Healthcare · AU · Market cap A$20.7B (≈ $14.9B) · ISIN AU000000PME8
What is Pro Medicus Ltd really worth?
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
A strong business, but trading 633% above our fair value of A$23.74.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 24 valuation models · updated 22 days ago
Share price +5.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 81/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (A$41.92). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (A$18.20 to A$41.92) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range A$37.31 – A$329.23 · fair‑value band A$18.20 – A$41.92 · the A$173.95 price screens above the A$23.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Pro Medicus Ltd (PME) currently trades at A$173.95, while our model-based Fair Value estimate is A$23.74, implying the stock looks roughly 632.6% overvalued today. The Quality Score stands at 81/100 (high quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of A$32.37 per share, and 0 of the 24 models we run sit above the A$173.95 price. Bear case: the Multiples group reads lowest at A$11.07, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Pro Medicus Ltd generated revenue of A$241M at a net margin of 97.6%. Revenue grew 28.4% year over year. It earns a return on equity of 76.8%. The balance sheet holds a net cash position of A$172M. Fundamentals as of Aug 13, 2026
Our scenario range runs from A$18.20 (bear case) to A$41.92 (bull case); at A$173.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 48% below its 52-week high and 62% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −64% fair-value upside, at −86%, PME screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly A$1.63 per share, which is 6.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (A$32.37) versus Asset-Based (A$1.65). Highest evidence: FCF DCF (76).
Notify me when PME reaches fair value
Put PME on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 81 · Market factors (momentum, volatility) 43
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Pro Medicus Limited, a healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.
Full company description
Pro Medicus Limited, a healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe. The company offers Visage RIS Visage 7 Enterprise Imaging Platform, a healthcare imaging software that provides radiologists, physicians, and clinicians with access and visualization capability for viewing 2-D, 3-D, and 4-D medical images; and picture archive and communication system (PACS)/digital imaging software. It also provides Visage RIS, a proprietary medical software for practice management, training, installation, professional services, and after-sale support and service products; and Promedicus.net, an e-health platform for secure email and integration products. In addition, the company offers Visage Ease, a mobile application that provides users access to medical imaging results; and Visage Ease Pro, a mobile application that provides users the ability to interpret various diagnostic imaging studies stored on a Visage 7 server. Pro Medicus Limited was incorporated in 1983 and is headquartered in Richmond, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Pro Medicus Ltd reported revenue of A$213M in FY2025 versus A$67.9M in FY2021, a compound +33.1%/yr. Reported net income was A$115M in FY2025, compounding +39.0%/yr from FY2021.
of which total revenue +26.7 % · buybacks/dilution −0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
PME screens 633% overvalued. Compare with Veeva Systems Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Small Cap Watch: Actinogen hosts Alzheimer’s forum; SEG unveils MediaWorks deal and Pro Medicus wins US contract
- Is Now The Time To Put Pro Medicus (ASX:PME) On Your Watchlist?
Peer Group
Health Information Services · 128 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Health Information Services median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $282.13 | $91.49 | −68% |
| BrightSpring Health Services, Inc BTSG | $59.68 | $21.31 | −64% |
| HealthEquity, Inc HQY | $104.27 | $56.63 | −46% |
| Hinge Health, Inc HNGE | $86.32 | $24.03 | −72% |
| 10x Genomics, Inc TXG | $55.63 | $17.18 | −69% |
| Waystar Holding WAY | $25.76 | $12.86 | −50% |
| XtalPi Holdings 2228 | HK$8.19 | HK$1.04 | −87% |
| Doximity, Inc DOCS | $24.74 | $25.91 | +5% |
| Privia Health Group PRVA | $21.07 | $5.26 | −75% |
| IKS IKS | ₹1,785 | ₹830.74 | −53% |
Compare Pro Medicus Ltd with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Healthcare stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Pro Medicus Ltd (PME) overvalued or undervalued?
What is the fair value of PME?
What is the quality score of PME?
What is the revenue of Pro Medicus Ltd (PME)?
What is the net profit margin of PME?
Does Pro Medicus Ltd pay a dividend?
Watch Pro Medicus Ltd in the live analysis
One click puts Pro Medicus Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.