How Has Sigma Healthcare (ASX:SIG) Fared Over the Past Year, and What Did Its First Full Year With Chemist Warehouse Show?

Sonal Goyal

20 October 2026 12:47 PM AEDT

How Has Sigma Healthcare (ASX:SIG) Fared Over the Past Year, and What Did Its First Full Year With Chemist Warehouse Show?

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Key highlights

Sigma Healthcare (ASX:SIG) the stock finished the session at $2.83, down approximately 0.70% on 19 October 2026, and the shares are down approximately 4.71% over the past year.
The 27 August 2026 release reports revenue of $10.8 billion, up 15.5%, and normalised EBIT of $1,090.0 million, up 20.6%.
Normalised NPAT was $732.3 million, up 22.3%, and net debt fell to $663 million.

Sigma Healthcare (ASX:SIG) is a pharmacy wholesaler, retailer and franchisor that merged with the Chemist Warehouse Group. On 19 October 2026, the stock finished the session at $2.83, down approximately 0.70%. Over the longer term, the shares are down approximately 4.71% over the past year. On 27 August 2026, the company announced its results for the year ended 30 June 2026, its first full financial year after the merger.

FY26 results

Revenue was $10.8 billion, up 15.5%, and normalised EBIT was $1,090.0 million, up 20.6%, with the margin rising to 10.1% from 9.6%. Normalised NPAT was $732.3 million, up 22.3%. Net debt fell to $663 million, a debt to normalised EBITDA ratio of 0.57 times. Comparisons are with normalised pro-forma FY25.

Segments and network

The Australian segment reached revenue of $10.4 billion, up 14.9%, and normalised EBIT of $1,034.2 million, up 18.3%. International segment EBIT rose 91.3% to $55.8 million, and Ireland became profitable for the first time. The company added 24 Chemist Warehouse branded stores to reach 561 and refurbished 18, with CW branded network sales growth of 15.9% and like-for-like growth of 13.4% on network sales to consumers of about $10.2 billion. It expects the number of Amcal and Discount Drug Stores to return to growth in FY27, with a pipeline of 82 stores.

Synergies and GLP-1 medicines

The company delivered $32.6 million of integration synergies and is on track to reach $100 million a year by FY29. It says sales benefited from higher consumption of GLP-1 medicines, which dilute the margin percentage, but Australian gross margin was broadly maintained at 17.6%. It describes its network as approaching 1,000 pharmacies globally.

The company puts the merger in context. Normalised pro-forma EBIT at the time of the merger was $605.5 million for FY24, so FY26 normalised EBIT of almost $1.1 billion represents growth of over 80% in two years. Chemist Warehouse branded network sales to consumers were about $10.2 billion, and the company says its model is scalable because the Australian infrastructure is already in place. It also expects continued growth in GLP-1 medicine sales to flow through to adjacent health categories.

Reading the share price change

The share price of Sigma Healthcare is down approximately 4.71% over the past year. That figure measures price movement only. It does not include dividends or franking credits, and the exact amount depends on the start and end dates used, which is why it is described as approximate here. A share price that is approximately 4.71% lower over the period reflects market expectations and conditions across many factors at once, not only the company’s most recent results.

On 19 October 2026 the shares moved approximately 0.70% on the day, which is one session within that longer period. The results referred to in this article cover a period that ended before 19 October 2026 and were released on a different date to the share price figures quoted. For that reason, this article does not treat the share price change as a response to the announcement.

Sector backdrop

The benchmark index finished the 19 October 2026 session higher. The S&P/ASX 200 (ASX: XJO) stood at 8,845.70 at 4:25 pm (GMT+11) on 19 October 2026, up 0.44%, or 39.00 points, for the day. On the sector map, Health Care fell 0.13%. More broadly, Energy rose 2.16%, Industrials 0.93%, Financials 0.85%, Utilities 0.38% and Consumer Staples 0.25%, while Information Technology fell 1.35%, A-REIT 0.34%, Consumer Discretionary 0.18%, Telecommunication Services 0.16% and Health Care 0.13%.

Risks shareholders should weigh

Growth in sales of GLP-1 medicines dilutes margin percentage and the company expects them to continue, though it notes it is cycling elevated early-period growth. Synergy delivery of $100 million a year by FY29 is a target.

What’s next

Sigma will continue integration, add stores and aim for synergy delivery by FY29.

FAQs

Q: What was FY26 revenue?

A:$10.8 billion, up 15.5%.

Q: What was normalised EBIT?

A:$1,090.0 million, up 20.6%.

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