Market Ratios

Research evidence excerpt

Market Ratios

Macquarie Equity Research

30 June 2026

Database

AustraliaMarket Ratios

Edging Higher

Sheridan

Key Points Maher

• Markets posted modest gains over the week.

• Net revisions were negative, indicating more negative revisions than Market movements

positive revisions.

• Information Technology outperformed, rising 7.3%. Index 29/06/2026Index Value Change%

ASX 100 7,400 0.6

ASX 300 8,757 0.4

Event Small Ordinaries 3,432 -1.4

US S&P 500 7,440 -0.2

• The ASX100 increased 0.6%, the ASX300 was up 0.4%, and the Small Dow Jones 52,183 0.4

Ordinaries decreased 1.4%. In the US, the S&P 500 fell 0.2%, while the AU GICS Sectors

Dow Jones was up 0.4%. Energy 9,452 -2.4

Materials 23,769 -1.3

• Information Technology led the market, up 7.3%, with WiseTech, Xero Industrials 8,491 0.4

and Life360 driving the gains. Consumer Discretionary 4,007 4.1

Consumer Staples 13,450 3.6

• Energy was the least impressive sector, falling 2.4%. While the whole Healthcare 26,118 5.6

sector was down, it was Woodside Energy and Santos that were the main Financials 9,311 -0.4

Property Trusts 1,735 1.2

contributors. Information Technology 1,815 7.3

• The market PER for June 2026 increased to 18.7x, and the PER for CommunicationUtilities 1,6359,643 -0.70.9

December 2026 increased to 17.6x. The market EPSg for June 2026

Source: FactSet, June 2026

decreased to 9.2%, and the EPSg for December 2026 decreased to

12.2%. FactSet Australian earnings revisions

• The four-week rolling FactSet Australian earnings net revisions were 1510

negative, indicating more negative revisions than positive revisions. 0

-5• Sims led the positive revisions table, while Flight Centre led the negative Revisions -10

revisions table. Net% -15

-20

Revisions – Four-week rolling FactSet FY1 EPS net earnings revisions -25

-30