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Australian pharmaceutical wholesaler that merged with Chemist Warehouse, combining drug distribution with Australia's largest discount pharmacy chain.
Australian pharmaceutical wholesaler that merged with Chemist Warehouse, combining drug distribution with Australia's largest discount pharmacy chain.
Before the merger it supplied medicines and health products to independent pharmacies and ran pharmacy banners such as Amcal and Guardian; since 2025 it also owns Chemist Warehouse, a discount store network run with pharmacist partners. Chemist Warehouse's founding families became the majority holders of the merged group.
In one line: Australia's McKesson-meets-CVS combination.
Moat: narrow (scale, distribution, brand). Combined entity gains Australia's largest discount pharmacy brand plus wholesale distribution scale.
Headquarters: Melbourne, Australia · Founded: 1912
Size Sigma Healthcare (SIG.AX) is an Australia Health Care company (Pharmaceuticals: Major) with a market value of $22.4B, the 18th largest of 316 Australia companies the cockpit tracks. Shares closed at A$2.82 on 6 Nov 2026.
Performance Over six months the shares fell 1.4%, against +8.2% for the median peer and +4.1% for the Australia market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 209.1% over the last twelve months (peer median +21.7%); the operating margin is 9.2% (peer median 22.7%).
Valuation It trades at 37.1× forward earnings against a peer median of 22.2× (6th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.2 points above its cost of capital (9.9% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$10.8B | A$10.8B | A$14.4B | A$3.32B | A$3.66B |
| Revenue growth | — | -25% | +334% | -9% | — |
| Gross profit | A$1.96B | A$1.96B | A$3.46B | A$190M | A$224M |
| EBITDA | A$1.08B | A$1.08B | A$1.99B | -A$43.6M | -A$38.6M |
| Net income | A$709M | A$709M | A$1.27B | A$4.51M | A$1.81M |
| Free cash flow | A$519M | A$519M | A$546M | A$37.2M | A$113M |
| Capital expenditure | A$56.7M | A$56.7M | A$57.6M | A$4.72M | A$29.4M |
| Total debt | n/a | A$2.02B | A$2.07B | A$137M | A$227M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sigma Healthcare SIG.AX | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% |
| EBOS EBO.AX | $2.52B | +1% | +3% | 3% | 15.2× | 4.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SIG.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.6% | +8.3% | 9th lowest of 21 |
| 6-month return | -1.4% | +8.2% | 8th lowest of 21 |
| Distance from 52-week high | -11.9% | -11.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +209.1% | +21.7% | 2nd highest of 21 |
| Operating margin | 9.2% | 22.7% | 4th lowest of 21 |
| Forward P/E | 37.1× | 22.2× | 6th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 28.2% | 7.2% | 5th most demanding of 18 |
| Growth delivered (Del g) | +26.1% | +12.5% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | +2.1 pp | -14.2 pp | 4th most demanding of 18 |
| ROIC minus cost of capital | +0.2 pp | +7.3 pp | 6th lowest of 21 |
| EV / EBITDA | 31.6× | 15.9× | 5th most expensive of 17 |
| Net debt / EBITDA | 1.7× | -0.5× | 4th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% | +26.1% |
| Viatris VTRS | United States | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% | +3.7% |
| Alnylam Pharmaceuticals ALNY | United States | $20.9B | -47% | +56% | 20% | 22.2× | 0.9% | +49.8% |
| Incyte INCY | United States | $24.4B | +21% | +25% | 12% | 15.4× | 14.2% | +14.0% |
| Insmed INSM | United States | $25.1B | -16% | +240% | -42% | n/a | n/a | n/a |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 53.3× | 11.7% | +26.8% |
| Torrent Pharmaceuticals TORNTPHARM.NS | India | $19.1B | +9% | +42% | 22% | 72.2× | 37.9% | +11.3% |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| Roivant Sciences ROIV | United States | $28.1B | +36% | -68% | -18,146% | n/a | n/a | n/a |
| Astellas Pharma 4503.T | Japan | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% | +11.4% |
| Swedish Orphan Biovitrum SOBI.ST | Sweden | $17.6B | +13% | +15% | 30% | 25.5× | -1.1% | +13.1% |
| Divi's Laboratories DIVISLAB.NS | India | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% | +8.9% |
| Exelixis EXEL | United States | $17.0B | +44% | +9% | 40% | 18.2× | -3.7% | +18.6% |
| Shionogi & 4507.T | Japan | $16.6B | -6% | +46% | 29% | 10.9× | -0.7% | +11.0% |
| Sichuan Biokin Pharmaceutical 688506.SS | China | $16.4B | -3% | +14% | -43% | n/a | n/a | n/a |
| Orion ORNAV.HE | Finland | $16.1B | +51% | +34% | 38% | 23.5× | -6.3% | +11.7% |
| Ascendis Pharma A/S ASND | United States | $16.0B | +8% | +128% | 10% | 40.8× | 36.4% | +152.4% |
| PharmaEssentia 6446.TW | Taiwan | $15.8B | +118% | +64% | 38% | 39.2× | 29.3% | +94.8% |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| Jazz Pharmaceuticals Public JAZZ | United States | $15.1B | +4% | +13% | 25% | 8.9× | -3.9% | +12.5% |