ASX:SIG Full Year Results: Sigma Healthcare's Australian and International Segments in Focus

Sonal Goyal

17 September 2026 03:39 AM AEST

ASX:SIG Full Year Results: Sigma Healthcare's Australian and International Segments in Focus

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Sigma Healthcare reported FY26 Revenue of $10.8 billion, up 15.5% on the prior year, for the period ended 30 June 2026
Normalised EBIT rose 20.6% to $1.09 billion, with normalised NPAT up 22.3% for the full year
The company declared a fully franked final Dividend of 2.0 cents per share, taking the full-year dividend to 4.0 cents per share
Sigma added 24 Chemist Warehouse branded stores in Australia during the year, reaching 561 stores, alongside 20 new international outlets

Sigma Healthcare Limited (ASX:SIG) is an Australian-listed healthcare company operating in pharmaceutical wholesale, distribution and retail pharmacy. This article reviews the company's FY26 full-year results, its core operations, sector context and the developments shareholders are following heading into FY27.

The share price was AUD 2.50 during the Trading session on 17 September 2026. The stock moved down by 3.48% during the trading session on 17 September 2026.

Company Business

Sigma Healthcare operates as the listed vehicle for a combined pharmaceutical wholesale, distribution and retail pharmacy Business following its Merger with Chemist Warehouse Group, which completed on 12 February 2025. The company supplies medicines and related healthcare products across Australia and has an expanding international footprint. For FY26, Sigma revised its segment reporting from a single operating segment to two segments, Australia and International, reflecting how the Chief Executive Officer, Managing Director and Executive Directors review performance as Chief Operating Decision Makers. The Australian segment includes the Chemist Warehouse branded retail pharmacy network alongside pharmaceutical wholesale and distribution operations, while the International segment includes operations in markets such as Ireland and an expanding presence in the United Kingdom.

Sector Context

The Australian pharmaceutical wholesale and retail pharmacy sector operates within a regulatory framework that includes the Pharmaceutical Benefits Scheme and community pharmacy ownership rules. Retail pharmacy operators in this sector are exposed to consumer Demand trends, including demand for weight-management and GLP-1 related products, which has been a visible driver of sales growth across the sector. Companies with international pharmacy or wholesale operations are also subject to overseas regulatory and reimbursement frameworks as they expand beyond the Australian market.

Recent Developments

Sigma Healthcare released its FY26 full-year results for the period ended 30 June 2026 to the ASX on the morning of 27 August 2026, its first full-year result following the Chemist Warehouse merger. The release was accompanied by a webcast presentation and live question and answer session. As part of the results, the company disclosed normalised profit and loss figures for FY26 and FY25, adjusted for merger-related, integration and specific non-cash charges, alongside restated FY25 segment data for Australia and International operations. During the period, the company reported integration synergies delivered of $32.6 million, with a target of $100 million per annum by FY29.

Financial Performance

For FY26, Sigma Healthcare reported group revenue of $10.8 billion, up 15.5% on the prior year. Normalised EBIT increased 20.6% to $1.09 billion, and normalised NPAT rose 22.3% over the period. The Australian segment, described by the company as its main revenue contributor, generated $10.4 billion in revenue and $1,034.2 million in normalised EBIT. The International segment delivered 33% revenue growth and EBIT that doubled over the comparative period, with the company noting its Ireland operations had become profitable. The company declared a fully franked final dividend of 2.0 cents per share, bringing the full-year dividend to 4.0 cents per share. Store numbers grew to 561 Chemist Warehouse branded stores in Australia, an increase of 24 during the year, alongside 20 new international outlets.

Risks to Consider

Sigma's disclosures and public filings point to several risk factors, including Shareholder concentration, with a small number of shareholder groups holding a substantial proportion of the company's register and board representation. Delivery of integration synergies from the Chemist Warehouse merger is back-ended toward the FY29 target and remains subject to execution risk. Demand for certain product categories, including GLP-1 related medicines, is exposed to changes in pricing, Supply availability and reimbursement settings. The company's expanding international operations also introduce exposure to overseas regulatory and market conditions distinct from the Australian business.

What to Watch Next

Following the FY26 result, Market Participants are monitoring further updates on integration synergy delivery against the FY29 target, continued store network growth in both Australia and international markets, and the trajectory of the International segment following its return to profitability in Ireland and expansion into the United Kingdom. Sigma's half-year results, covering the six months to 31 December 2026, represent the next scheduled disclosure point for the company.

Key Insights

Sigma Healthcare's FY26 results represent its first full-year performance since combining with Chemist Warehouse Group, with double-digit growth recorded across revenue, normalised EBIT and normalised NPAT. The revised segment reporting structure provides shareholders with separate visibility of the Australian and International businesses. Store network expansion, international growth and progress on integration synergies are among the factors likely to remain relevant to the company's reporting in future periods.

FAQs

Q: What is Sigma Healthcare's core business?

A:Sigma Healthcare operates a combined pharmaceutical wholesale, distribution and retail pharmacy business, including the Chemist Warehouse branded retail network, following its merger with Chemist Warehouse Group.

Q: What was Sigma Healthcare's revenue for FY26?

A:Sigma Healthcare reported group revenue of $10.8 billion for FY26, up 15.5% on the prior year.

Q: How many Chemist Warehouse branded stores does Sigma operate?

A:The company reached 561 Chemist Warehouse branded stores in Australia during FY26, an increase of 24 stores over the year, alongside 20 new international outlets.

Q: What dividend did Sigma Healthcare declare for FY26?

A:Sigma declared a fully franked final dividend of 2.0 cents per share, bringing the full-year dividend to 4.0 cents per share.

Q: How is Sigma Healthcare's business segmented?

A:For FY26, Sigma revised its segment reporting to two segments, Australia and International, reflecting how management reviews the performance of the combined business.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.