MONASH IVF GROUP LIMITED (MVF)
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MVF

MVF - MONASH IVF GROUP LIMITED

FNArena Sector : Healthcare services
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 2.7
Index: ALL-ORDS

Monash IVF is an Australian provider of IVF, Ultrasound and genetic testing services throughout Australia and Asia. The company has been listed since 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.64

26 Mar
2026

-0.010

OPEN

$0.65

-1.54%

HIGH

$0.66

691,676

LOW

$0.64

TARGET
$0.823 28.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . ALC . BMT . DOC . EBO . HLS . IDX . M7T . MPL . NHF . RHC . SHL .
FNARENA'S MARKET CONSENSUS FORECASTS
MVF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.4 5.1 xxx
DPS (cps) xxx 2.6 2.7 xxx
EPS Growth xxx N/A - 20.6% xxx
DPS Growth xxx - 48.0% 1.9% xxx
PE Ratio xxx N/A 12.5 xxx
Dividend Yield xxx N/A 4.1% xxx
Div Pay Ratio(%) xxx 40.5% 52.0% xxx

Dividend yield today if purchased 3 years ago: 2.52%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.06

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 06/03 - ex-div 2.60c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx6.4
DPS All xxxxxxxxxxxxxxx2.6
Sales/Revenue xxxxxxxxxxxxxxx271.9 M
Book Value Per Share xxxxxxxxxxxxxxx63.2
Net Operating Cash Flow xxxxxxxxxxxxxxx8.9 M
Net Profit Margin xxxxxxxxxxxxxxx9.20 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.25 %
Return on Invested Capital xxxxxxxxxxxxxxx6.36 %
Return on Assets xxxxxxxxxxxxxxx5.00 %
Return on Equity xxxxxxxxxxxxxxx10.25 %
Return on Total Capital xxxxxxxxxxxxxxx11.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-23.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx10 M
Long Term Debt xxxxxxxxxxxxxxx170 M
Total Debt xxxxxxxxxxxxxxx180 M
Goodwill - Gross xxxxxxxxxxxxxxx273 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx1.12

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx14.4 M
Capex % of Sales xxxxxxxxxxxxxxx5.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx196 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx31 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.7

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgans

27/02/2026

1

Speculative Buy

$0.87

35.94%

Monash IVF's 1H26 result was in line with prior guidance, with underlying NPAT down - 34% y/y and FY26 guidance reiterated at $20m, Morgans comments.

Revenue declined reflecting weakness in Australia where market share fell 2.5% to 19% amid reputational headwinds, while International revenue rose 14% supported by stimulated cycle growth.

EBITDA fell 1-5% with margins contracting 350bps to 22%, driven by negative operating leverage, inflationary pressures and the absence of price rises in key markets, commentary suggests.

Net profit after tax forecasts fall by -4% and -7% for FY26/FY27 respectively. Speculative Buy unchanged. Target trimmed to 87c from 90c.

FORECAST
Morgans forecasts a full year FY26 dividend of 1.90 cents and EPS of 5.10 cents.
Morgans forecasts a full year FY27 dividend of 3.50 cents and EPS of 5.40 cents.

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

09/03/2026

3

Hold

$0.69

7.81%

Monash IVF provided a first half result that was ahead of estimates. Cannacord Genuity was particularly surprised by the beat to revenue given the market share loss, and hopes that going forward the company will regain control of market share.

There was not enough evidence in the results for the broker to be convinced that the competitive position has improved, nor for industry demand to show more resilience.

Lingering doubts about the IVF sector's intrinsic value keep Cannacord Genuity from being more constructive and a Hold rating is retained. Target rises to 69c from 65c.

Monash IVF's interim profit of $10.4m represented a fall of -34% on the prior year but came in ahead of the broker's $9.7m forecast and the consensus estimate of $10.1m.

Australian assisted reproductive services revenue of $138m beat the broker’s $127m estimate despite volumes falling -12%, with stronger revenue per cycle supported by pricing and genetics.

International revenue grew 14% though earnings (EBITDA) contribution was flat, indicating weaker margins.

FY26 profit guidance of around $20m is maintained, broadly in line with the consensus estimate but above the broker’s forecast.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 3.00 cents and EPS of 5.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 4.00 cents and EPS of 5.00 cents.
Access Extra Coverage Research History >

MVF STOCK CHART

FNArena News on MVF

1
Rudi’s View: Top Picks & Conviction Buys

Mar 19 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Mar 09, 2026

Mar 09 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 27-02-2026

Feb 27 2026 - Australia
4
Next Month At A Glance – Dec 24 – Jan 30, 2026

Dec 24 2025 - Weekly Reports
5
Weekly Ratings, Targets, Forecast Changes – 05-12-25

Dec 08 2025 - Weekly Reports

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