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U.S. Life Sciences Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies61
  • 7D5.5%
  • 3M-19.8%
  • 1Y9.5%
  • YTD-17.3%

Danaher is up 5.3%, leading the way for the Life Sciences industry, which has gained 5.5%. During this same period, the Nautilus Biotechnology underperformed, falling 5.0%. In the last 12 months, the industry was up 9.5%. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

Has the U.S. Life Sciences Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$561.9bUS$147.8bUS$14.1b37.2x39.9x3.8x
Tue, 03 Mar 2026US$599.3bUS$147.9bUS$14.0b35.2x42.9x4.1x
Thu, 29 Jan 2026US$694.7bUS$146.1bUS$12.5b35.3x55.7x4.8x
Sat, 27 Dec 2025US$664.7bUS$145.8bUS$12.5b35.4x53.3x4.6x
Mon, 24 Nov 2025US$666.4bUS$145.6bUS$12.4b36.2x53.8x4.6x
Wed, 22 Oct 2025US$635.9bUS$144.3bUS$14.6b33.9x43.7x4.4x
Fri, 19 Sep 2025US$568.9bUS$144.3bUS$14.6b31.3x39.1x3.9x
Sun, 17 Aug 2025US$583.4bUS$144.2bUS$14.5b29x40.3x4x
Tue, 15 Jul 2025US$551.8bUS$142.9bUS$9.1b36.1x60.4x3.9x
Thu, 12 Jun 2025US$536.6bUS$142.9bUS$9.2b36.3x58.5x3.8x
Sat, 10 May 2025US$516.9bUS$142.8bUS$9.6b34.4x53.9x3.6x
Mon, 07 Apr 2025US$509.0bUS$142.5bUS$9.9b33.4x51.2x3.6x
Wed, 05 Mar 2025US$594.9bUS$143.0bUS$9.7b40.5x61.4x4.2x
Fri, 31 Jan 2025US$674.7bUS$143.0bUS$10.4b41.1x65.1x4.7x
Sun, 29 Dec 2024US$657.8bUS$142.4bUS$10.2b44.7x64.3x4.6x
Tue, 26 Nov 2024US$656.3bUS$142.4bUS$10.4b44.4x63.4x4.6x
Thu, 24 Oct 2024US$711.0bUS$142.0bUS$8.3b35.9x85.6x5x
Sat, 21 Sep 2024US$755.8bUS$141.8bUS$8.5b37.7x88.9x5.3x
Mon, 19 Aug 2024US$738.6bUS$141.5bUS$8.4b38.8x88.3x5.2x
Wed, 17 Jul 2024US$683.9bUS$141.2bUS$12.2b41.9x56x4.8x
Fri, 14 Jun 2024US$698.2bUS$141.3bUS$12.2b37.4x57.3x4.9x
Sun, 12 May 2024US$729.1bUS$141.5bUS$12.6b38.6x57.7x5.2x
Tue, 09 Apr 2024US$727.9bUS$142.1bUS$12.8b43.2x56.9x5.1x
Thu, 07 Mar 2024US$744.6bUS$142.1bUS$12.8b44.6x58x5.2x
Sat, 03 Feb 2024US$709.3bUS$147.5bUS$12.5b38.3x56.6x4.8x
Mon, 01 Jan 2024US$700.2bUS$153.8bUS$14.2b37.8x49.2x4.6x
Wed, 29 Nov 2023US$637.7bUS$153.8bUS$14.0b34.5x45.5x4.1x
Fri, 27 Oct 2023US$578.8bUS$154.0bUS$11.0b29.9x52.4x3.8x
Sun, 24 Sep 2023US$670.2bUS$154.6bUS$11.2b33.5x59.8x4.3x
Tue, 22 Aug 2023US$702.8bUS$154.6bUS$11.2b32.9x62.7x4.5x
Thu, 20 Jul 2023US$716.3bUS$155.5bUS$12.7b29.6x56.5x4.6x
Sat, 17 Jun 2023US$704.2bUS$152.4bUS$12.5b29.3x56.3x4.6x
Mon, 15 May 2023US$676.6bUS$152.4bUS$12.7b28.7x53.3x4.4x
Wed, 12 Apr 2023US$727.4bUS$154.6bUS$10.8b30x67.3x4.7x
Price to Earnings Ratio

67.3x


Total Market Cap: US$727.4bTotal Earnings: US$10.8bTotal Revenue: US$154.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Life Sciences Industry Price to Earnings3Y Average 57.6x202420252026
Current Industry PE
  • Investors are pessimistic on the American Life Sciences industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 39.9x which is lower than its 3-year average PE of 57.6x.
  • The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences industry have grown 9.2% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market3.46%
Healthcare3.50%
Life Sciences5.45%
Clinical Research and Equipment5.45%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
DHR DanaherUS$191.125.3%
+US$6.8b		5.1%PE37.6x
TMO Thermo Fisher ScientificUS$491.463.8%
+US$6.7b		12.2%PE27.2x
IQV IQVIA HoldingsUS$173.265.7%
+US$1.6b		12.0%PE21.4x
ILMN IlluminaUS$127.388.3%
+US$1.5b		71.8%PE22.9x
A Agilent TechnologiesUS$115.484.8%
+US$1.5b		12.1%PE25.3x

Latest News

A
US$115.48
Agilent Technologies
7D
4.8%
1Y
12.1%
WAT
US$304.24
Waters
7D
5.2%
1Y
-6.4%

WAT: New Four Division Model And Materials Focus Will Support Higher Profitability

Analysts have reduced their price target on Waters by about $5 to $393, reflecting small adjustments to fair value assumptions, discount rate, revenue growth, profit margin and future P/E inputs. What's in the News Waters launched the TA Instruments ARES-G3 Rheometer, a next generation system that captures up to 25,000 data points per second, aims to shorten standard test times by up to 80%, and is available for order as part of the materials characterization portfolio (Key Developments).
TMO
US$491.46
Thermo Fisher Scientific
7D
3.8%
1Y
12.2%

TMO: 2026 Tools Recovery And AI Labs Adoption Will Drive Upside

The analyst price target for Thermo Fisher has been adjusted slightly, with the updated fair value moving from about $742.76 to $738.42 as analysts factor in modest tweaks to revenue growth, profit margin, and future P/E assumptions following a series of supportive target increases across recent Street research. Analyst Commentary Recent research points to generally constructive sentiment around Thermo Fisher Scientific, with several bullish analysts revisiting their models, adjusting fair value estimates, and flagging potential catalysts that could influence how investors think about the shares over the next few years.
QSI
US$0.75
Quantum-Si
7D
-2.1%
1Y
-33.8%
ILMN
US$127.38
Illumina
7D
8.3%
1Y
71.8%
CDT
US$3.95
CDT Equity
7D
-49.7%
1Y
-99.8%
DHR
US$191.12
Danaher
7D
5.3%
1Y
5.1%

DHR: Cash Deal For Masimo Will Support Premium Future Earnings Multiple

Analysts have nudged Danaher’s price targets higher by low double digit dollar amounts, pointing to updated views on discount rates, revenue growth, profit margins and future P/E assumptions as the key drivers behind the revised dollar values. Analyst Commentary Recent research has focused on how Danaher’s valuation reflects expectations for future execution, especially in light of the planned Masimo acquisition and refreshed targets across the life science tools peer group.
NOTV
US$0.27
Inotiv
7D
-1.2%
1Y
-88.6%

NOTV: Future Upside Will Depend On Meeting Nasdaq Bid Price Requirement

Analysts have lowered their price target on Inotiv by $1.50 to reflect updated fair value estimates, a slightly adjusted discount rate, and modest changes to assumptions for revenue growth, profit margin, and future P/E. Analyst Commentary Bearish analysts lowering the price target by $1.50 are signaling a more cautious stance on how Inotiv is priced relative to updated fair value estimates.
IQV
US$173.26
IQVIA Holdings
7D
5.7%
1Y
12.0%

IQV: Future Returns Will Lean On AI Driven Clinical Trial Upswing

Narrative Update on IQVIA Holdings The analyst price target framework for IQVIA Holdings is unchanged at $200. Recent research points to modest adjustments in revenue growth, profit margin and future P/E assumptions, as analysts highlight the company's data analytics capabilities, AI related cost efficiencies in clinical trials and expectations for increased trial activity into 2026.
MEDP
US$498.34
Medpace Holdings
7D
10.4%
1Y
73.6%

MEDP: Efficient Biotech Contracts And Buybacks Will Support Elevated Market Expectations

Analysts have inched up their blended price target on Medpace Holdings to about $500 per share from roughly $490, citing the company’s efficiency in contract research, ongoing biotech-focused wins, and a series of recent rating upgrades as key reasons for this recalibration. Analyst Commentary Recent research remains broadly constructive on Medpace, with several firms adjusting ratings and price targets as they reassess valuation, execution, and exposure to biotech customers.
ICLR
US$114.19
ICON
7D
11.9%
1Y
-25.7%
BNBX
US$0.66
BNB Plus
7D
-4.8%
1Y
-97.0%
NAUT
US$3.31
Nautilus Biotechnology
7D
-5.0%
1Y
374.6%

Proteomics Demand And Early Access Services Will Support A Stronger Long Term Opportunity

Catalysts About Nautilus Biotechnology Nautilus Biotechnology is developing a proteomics platform built around its Voyager instrument and Iterative Mapping technology to measure proteins and proteoforms at single molecule resolution for research and drug discovery customers. What are the underlying business or industry changes driving this perspective?