TMS Insights August 2026: Reporting Season Gets Rational
TMS Insights August 2026: Reporting Season Gets Rational
CSL has rebounded from around $90, while one of Australia’s hardest-hit sectors is starting to turn. In this episode of TMS Insights, Ben and Jeremy unpack the first half of August reporting season and where company fundamentals are cutting through the market noise.
In this episode:
- CSL’s core business is showing signs of recovery, with the stock now trading at around 18 times current-year earnings versus roughly 38 times over the past decade.
- Healthcare fell 37% in the last financial year, but ResMed’s consistent profit growth, net cash position and lower earnings multiple are giving Ben and Jeremy reasons to revisit the sector.
- REA Group is projected to grow profits by 20% this financial year despite a difficult housing market, while the AI debate has gone from every analyst question in February to none in August. - Copper now contributes 54% of BHP’s EBIT, with $45 billion of copper expansion opportunities and a 99 US cent dividend that came in around 20% above market expectations.
- Pro Medicus reported a stronger-than-expected result and its strongest contract pipeline in company history, with management arguing AI is accelerating the business rather than disrupting it.
Companies discussed: CSL (CSL), ResMed (RMD), REA Group (REA), CAR Group (CAR), SEEK (SEK), BHP Group (BHP), Pinnacle Investment Management Group (PNI), Pro Medicus (PME), Netwealth Group (NWL), HUB24 (HUB)
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