Pro Medicus Ltd, listed as (ASX: PME), and CSL Ltd, listed as (ASX: CSL), are both among the most actively traded stocks in the S&P/ASX 200 Index health group (ASX: XJO). Still, the results for buyers of these two shares have been very different over the last three years.
This healthcare compounding surprise CSL Pro Medicus comparison shows one Company smashing the 22.4% return of the ASX 200 since 22 September 2023, while the other has materially trailed the benchmark. So what would $10,000 invested in each Company three years ago actually be worth today?
Figure 1: ASX display screen at the Sydney exchange building [Courtesy: Reuters]
Tipping $10,000 Into CSL Shares
CSL (ASX: CSL) finished the session on 22 September 2023 at $252.15 per share. If you put in $10,000 at that time, you could buy 39 CSL shares. A little cash remained after the purchase.
For about ten months after that, the shares kept rising in a steady way. Then, starting around August 2024, CSL faced ongoing selling pressure, and the trend changed.
| CSL Investment Snapshot | Detail |
|---|---|
| Price on 22 Sep 2023 | $252.15 per share |
| Shares bought with $10,000 | 39 |
| Price on Thursday | $179.09 per share |
| Total dividends received (6 payments) | $12.55 per share |
| Value today (excl. dividends) | $6,985 |
| Value today (incl. dividends) | $7,474 |
CSL stock traded ex-dividend on 9 September. Holders at market close on 8 September can expect the final FY2026 dividend of $2.244 per share on 2 October.
Buying Pro Medicus Shares In September 2023
Pro Medicus (ASX: PME) shares closed on 22 September 2023 at $71.67 each. A $10,000 investment at that price secured 139 shares, with a little spare change.
This $10K investment CSL Pro Medicus already shows a clear divergence forming.
| Pro Medicus Investment Snapshot | Detail |
|---|---|
| Price on 22 Sep 2023 | $71.67 per share |
| Shares bought with $10,000 | 139 |
| Price on Thursday | $159.52 per share |
| Total dividends received (6 payments) | $1.64 per share |
| Value today (excl. dividends) | $22,173 |
| Value today (incl. dividends) | $22,401 |
Pro Medicus stock traded ex-dividend on 7 September. Holders at 4 September can expect a record 37 cent per share final dividend on 29 September.
The CSL & Pro Medicus Investment Reality Compared
Lining the two numbers up side by side makes the healthcare compounding surprise CSL Pro Medicus story clear.
| Comparison | CSL (ASX: CSL) | Pro Medicus (ASX: PME) |
|---|---|---|
| Initial investment (22 Sep 2023) | $10,000 | $10,000 |
| Value today (incl. dividends) | $7,474 | $22,401 |
| Net gain/loss | -$2,526 | +$12,401 |
| ASX 200 benchmark return | 22.4% | 22.4% |
This CSL & Pro Medicus investment reality highlights how differently two companies in the same sector can perform over an identical timeframe.
Healthcare Sector Outlook
The healthcare sector on the ASX has produced a wide spread of outcomes for investors over the past three years, and this comparison is a useful illustration. Health imaging and diagnostics names like Pro Medicus have benefited from strong demand for digital radiology tools across hospital networks.
Figure 2: Representation of a doctor reviewing digital patient data [Courtesy: Magnific]
Biotherapy and plasma businesses like CSL operate on longer product cycles and have faced more demand and margin pressure recently. Investors watching the healthcare sector closely should note that share price movements can diverge sharply even among companies in the same index grouping.
For more ASX 200 healthcare sector coverage, Colitco has further comparisons of listed healthcare names.
CSL & Pro Medicus Share Price
| Metric | CSL (ASX: CSL) | Pro Medicus (ASX: PME) |
|---|---|---|
| Last traded price | $179.09 per share | $159.52 per share |
| Price 22 Sep 2023 | $252.15 per share | $71.67 per share |
| Accumulated value with dividends | $191.64 per share | $161.16 per share |
| Recent dividend payments (6, total) | $12.55 per share | $1.64 per share |
| Upcoming final dividend | $2.244 per share, payable 2 Oct 2026 | $0.37 per share, payable 29 Sep 2026 |
Future Direction and Impact on Investor Portfolios
The $10K turned investment CSL Pro Medicus comparison shows how sector selection within healthcare can materially change portfolio outcomes. Investors holding both names would have seen a blended result, rather than either extreme.
Going forward, Pro Medicus dividend growth and its record final payout suggest continued momentum in its imaging software business. CSL shareholders will likely look for hints that the share price is calming down again, after a tough stretch that started around August 2024.
If your portfolio includes ASX health names, this should be a reminder to check how each company is actually doing, not just to lean on sector averages.
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FAQ
Q1. If you put $10,000 into CSL three years ago, what would it be worth now?
Ans. Around $7,474 total, dividends included, using today’s prices.
Q2. If you put $10,000 into Pro Medicus three years ago, what would it be worth now?
Ans. About $22,401 in total, dividends included, which is a lot higher than the start.
Q3. Which Company delivered the better investment reality?
Ans. Pro Medicus, having more than doubled the original $10,000 stake.
Q4. Did both companies beat the ASX 200 benchmark return?
Ans. No, only Pro Medicus outpaced the 22.4% ASX 200 return.
Disclaimer
This article is meant only for informational purposes. All data published in this content is sourced from publicly available share price and dividend information referenced in this piece. Kindly verify all information related to share price and market data before making any decisions. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned companies.
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
