AUSTRALIAN CLINICAL LABS LIMITED (ACL)
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ACL

ACL - AUSTRALIAN CLINICAL LABS LIMITED

FNArena Sector : Healthcare services
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 1.67
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.95

14 Apr
2025

-0.020

OPEN

$3.00

-0.67%

HIGH

$3.00

263,603

LOW

$2.93

TARGET
$3.65 23.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AHX . ALC . BMT . DOC . EBO . HLS . M7T . MDR . MPL . MVF . NHF . PSQ . RHC . SHL . SLA .
FNARENA'S MARKET CONSENSUS FORECASTS
ACL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 12.0 18.7 xxx
DPS (cps) xxx 12.0 12.5 xxx
EPS Growth xxx - 32.8% 55.2% xxx
DPS Growth xxx - 14.3% 4.2% xxx
PE Ratio xxx N/A 15.8 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 99.8% 67.0% xxx

Dividend yield today if purchased 3 years ago: 2.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.04

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 3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx12.0
DPS All xxxxxxxxxxxxxxx12.0
Sales/Revenue xxxxxxxxxxxxxxx689.7 M
Book Value Per Share xxxxxxxxxxxxxxx89.4
Net Operating Cash Flow xxxxxxxxxxxxxxx159.6 M
Net Profit Margin xxxxxxxxxxxxxxx3.47 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.68 %
Return on Invested Capital xxxxxxxxxxxxxxx6.22 %
Return on Assets xxxxxxxxxxxxxxx4.08 %
Return on Equity xxxxxxxxxxxxxxx13.68 %
Return on Total Capital xxxxxxxxxxxxxxx11.66 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx133.1 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx105 M
Long Term Debt xxxxxxxxxxxxxxx204 M
Total Debt xxxxxxxxxxxxxxx309 M
Goodwill - Gross xxxxxxxxxxxxxxx159 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx27 M
Price To Book Value xxxxxxxxxxxxxxx2.81

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx6.5 M
Capex % of Sales xxxxxxxxxxxxxxx0.94 %
Cost of Goods Sold xxxxxxxxxxxxxxx551 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx82 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

27/02/2025

3

Neutral

$3.15

6.78%

Australian Clinical Labs reported strong revenue growth in the first half, beating Macquarie's forecasts, although the EBIT margin was lower. This stemmed from higher consumable and property costs.

FY25 guidance has been maintained for underlying EBIT of $65-73m, with the broker pointing out the mid point requires a 50% skew to the second half for revenue and a 61% skew for EBIT.

Base pathology volumes have started to recover yet subdued GP volumes remain a near-term constraint and Macquarie awaits further recovery before becoming more positive. Neutral. Target rises to $3.15 from $2.95.

FORECAST
Macquarie forecasts a full year FY25 dividend of 12.50 cents and EPS of 18.00 cents.
Macquarie forecasts a full year FY26 dividend of 14.00 cents and EPS of 20.30 cents.

Citi

xx/xx/xxxx

1

xxx

$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

Goldman Sachs

12/04/2025

3

Re-initiation of coverage with Neutral

$3.30

11.86%

Goldman Sachs has re-initiated coverage of Australian Clinical Labs with a Neutral rating and target price of $3.30.

The broker notes profitability in the pathology sector has improved in recent months, but reimbursement rates and wage inflation will continue to pose challenges.

The company has performed strongly since the IPO, and the broker believes it can continue to gain market share and improve productivity. 

The balance sheet is strong, supporting an ongoing buyback program, with the broker highlighting the company is targeting Australian pathology and adjacencies for future acquisitions.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 11.00 cents and EPS of 19.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 11.00 cents and EPS of 19.00 cents.
Access Extra Coverage Research History >

ACL STOCK CHART

FNArena News on ACL

1
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports
2
In Brief: Tariffs, Healthcare & Wealth Platforms

Apr 11 2025 - Weekly Reports
3
Rudi’s View: To Sell Or Not To Sell

Mar 06 2025 - Rudi's View
4
FNArena Corporate Results Monitor – 27-02-2025

Feb 27 2025 - Australia
5
Rudi Interviewed: Turning Laggards Into Winners

Feb 17 2025 - Rudi's View

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