SIGMA HEALTHCARE LIMITED (SIG)
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SIG

SIG - SIGMA HEALTHCARE LIMITED

FNArena Sector : Health & Nutrition
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 1.04
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.09

28 Aug
2025

0.050

OPEN

$3.05

1.64%

HIGH

$3.12

190,437,336

LOW

$3.02

TARGET
$3.023 -2.2% downside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
CLV . EBO . EXL . MCP .
FNARENA'S MARKET CONSENSUS FORECASTS
SIG: 1
Title FY24
Actual
FY25
Actual
FY26
Forecast
FY27
Forecast
EPS (cps) xxx 5.1 6.2 xxx
DPS (cps) xxx 0.0 3.9 xxx
EPS Growth xxx 100.0% 22.5% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 50.5 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx N/A 62.3% xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.00

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: 28/03 - ex-div 0.5c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx5.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx14,404.4 M
Book Value Per Share xxxxxxxxxxxxxxx40.6
Net Operating Cash Flow xxxxxxxxxxxxxxx598.8 M
Net Profit Margin xxxxxxxxxxxxxxx8.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-
Return on Invested Capital xxxxxxxxxxxxxxx-
Return on Assets xxxxxxxxxxxxxxx-
Return on Equity xxxxxxxxxxxxxxx-
Return on Total Capital xxxxxxxxxxxxxxx-
Free Cash Flow ex dividends xxxxxxxxxxxxxxx60.2 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 xxxxxxxxxxxxxxx194 M
Long Term Debt xxxxxxxxxxxxxxx1,877 M
Total Debt xxxxxxxxxxxxxxx2,071 M
Goodwill - Gross xxxxxxxxxxxxxxx3,617 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx139 M
Price To Book Value xxxxxxxxxxxxxxx7.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx57.6 M
Capex % of Sales xxxxxxxxxxxxxxx0.40 %
Cost of Goods Sold xxxxxxxxxxxxxxx10,948 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,606 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx80 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

0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

2

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$xx.xx

xx.xx%

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xx/xx/xxxx

5

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xx.xx%

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xx/xx/xxxx

3

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Morgan Stanley

28/08/2025

1

Overweight

$3.30

6.80%

Morgan Stanley’s main takeaways from Sigma Healthcare's FY25 earnings call were a slight acceleration in trading into 2H25, with warehouse and distribution costs growing basically in line with inflation. Some technology costs and additional labour costs in overseas markets were noted.

FY25 results were in line with expectations and consensus, with earnings of $834.5m. Chemist Warehouse same-store sales growth increased 11.3% in 2H25, with the trading update stating FY26 year-to-date double-digit growth. New stores came in at 35, consistent with historical precedent.

There were no major synergies in FY25, while new opportunities will create higher synergy targets and more benefits going forward.

Expansion into other markets includes Europe, with Ireland store economics similar to A&NZ. My Chemist conversions will be completed over the next two months. Health & beauty remains competitive, but all categories are growing and gaining market share.

No slowdown in GLP-1 uptake is expected in FY26 after a shortage in FY25.

Morgan Stanley retains an Overweight rating with a $3.30 target price. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 6.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 7.00 cents.

Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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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

Jarden

24/07/2025

2

Overweight

$3.30

6.80%

Jarden flags Sigma Healthcare is aiming to lift the store size for Chemist Warehouse, with many of the older stores now space constrained and smaller at under 400sqm.

The analyst expects Sigma will increase the store size, which will lower sales per sqm but result in higher average store sales, which is a net positive. Chemist Warehouse currently generates around $13.9m sales per store and sales per sqm of around $26k, on Jarden's estimates.

Assuming around 20%-25% of the network is overtrading (smaller stores), the analyst believes net sales can grow at over 50% of incremental space uplift, with over 7% group sales as a potential tailwind in the next five years.

No change to Overweight rating and $3.30 target. The broker's EPS estimates remain unchanged.

FORECAST
Jarden forecasts a full year FY26 dividend of 3.60 cents and EPS of 5.90 cents.

SIG STOCK CHART