Market Ratios

研报英文原文证据摘录

Market Ratios

Macquarie Equity Research

21 July 2026

Database

AustraliaMarket Ratios

Little movement in the ASX

Sheridan

Key Points Maher

• Markets saw small negative returns this week.

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

positive revisions.

• Communications was the leading sector. Index 20/07/2026Index Value Change%

ASX 100 7,396 -0.1

ASX 300 8,721 -0.2

Event Small Ordinaries 3,315 -1.3

US S&P 500 7,443 -1.1

• The ASX100 decreased 0.1%, the ASX300 fell 0.2%, and the Small Dow Jones 51,839 -0.7

Ordinaries decreased 1.3%. In the US, the S&P 500 was down 1.1%, while AU GICS Sectors

the Dow Jones was down 0.7%. Energy 10,218 1.3

Materials 22,276 -3.2

• The Communications sector had the strongest performance this week, Industrials 8,376 1.0

up 1.9%. Telstra was the main contributor to this increase. Consumer Discretionary 4,060 1.5

Consumer Staples 13,105 0.6

• Materials was the least impressive sector, down 3.2%. BHP Group, Rio Healthcare 26,597 -0.8

Tinto and Evolution Mining being the main contributors. Financials 9,681 0.9

Property Trusts 1,666 1.4

• The market PER for June 2026 decreased to 18.6x, and the PER for Information Technology 1,720 -2.6

December 2026 decreased to 17.7x. The market EPSg for June 2026 CommunicationUtilities 1,6469,476 1.91.1

increased to 9.6%, and the EPSg for December 2026 increased to 11%.

Source: FactSet, July 2026

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

negative, indicating more negative revisions than positive revisions. FactSet Australian earnings revisions

10• Block led the positive revisions table, while Newmont led the negative 5

revisions table. 0

Revisions – Four-week rolling FactSet FY1 EPS net earnings revisions Revisions -10-5

Net

% -15