Pro Medicus Limited (PME) Fair Value & Analysis
Healthcare · AU · Market cap A$20.7B
Fair value as of: Jul 14, 2026
From 24 valuation models · updated 24 days ago
Fair value updated Jul 14, 2026, revised from A$23.91 to A$23.74 (−0.7%) since Jun 24, 2026. Share price −15.5% over the past month.
A solid business, but screening 87% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (A$41.92). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
- 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 Jul 14, 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$177.99 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 Jul 14, 2026.
Analysis
Pro Medicus Limited (PME) currently trades at A$177.99, while our model-based Fair Value estimate is A$23.74, implying the stock looks roughly 86.7% overvalued today. We read business quality at 67/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Pro Medicus Limited 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 Jul 14, 2026
Our scenario range runs from A$18.20 (bear case) to A$41.92 (bull case); at A$177.99, 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 47% below its 52-week high and 66% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -87%, PME screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 24 models by family
Widest divergence: Growth Earnings (A$30.99) versus Asset-Based (A$1.65). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 81 · Market factors (momentum, volatility) 38
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.
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 Limited 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.
PME screens 87% overvalued. Compare with Veeva Systems Inc →
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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Waystar Holding WAY | $22.69 | $12.86 | -43% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
| Winning Health Technology Group 300253 | ¥6.54 | ¥1.18 | -82% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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