HEALIUS LIMITED (HLS)
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HLS

HLS - HEALIUS LIMITED

FNArena Sector : Healthcare services
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 3.85
Index: ALL-ORDS

Healius, formerly Primary Health Care, is an Australian provider of Pathology, Diagnostic and Day Hospital services. It has been listed since 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.50

03 Nov
2026

-0.010

OPEN

$0.50

-1.96%

HIGH

$0.51

773,755

LOW

$0.50

TARGET
$0.44 -12.0% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . ALC . BMT . DOC . EBO . IDX . M7T . MPL . MVF . NHF . RHC . SHL .
FNARENA'S MARKET CONSENSUS FORECASTS
HLS: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx - 57.2 - 1.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A 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: 09/05 - ex-div 41.30c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx-57.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,373.2 M
Book Value Per Share xxxxxxxxxxxxxxx23.6
Net Operating Cash Flow xxxxxxxxxxxxxxx208.2 M
Net Profit Margin xxxxxxxxxxxxxxx-29.78 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx-107.69 %
Return on Invested Capital xxxxxxxxxxxxxxx-35.46 %
Return on Assets xxxxxxxxxxxxxxx-25.60 %
Return on Equity xxxxxxxxxxxxxxx-107.69 %
Return on Total Capital xxxxxxxxxxxxxxx2.26 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx177.1 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx180 M
Long Term Debt xxxxxxxxxxxxxxx816 M
Total Debt xxxxxxxxxxxxxxx996 M
Goodwill - Gross xxxxxxxxxxxxxxx98 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx67 M
Price To Book Value xxxxxxxxxxxxxxx1.65

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx43.3 M
Capex % of Sales xxxxxxxxxxxxxxx3.15 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,119 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx224 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

0.0

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

29/09/2026

3

Hold

$0.40

-20.00%

Morgans retains its Hold rating on Healius and cuts its target price to 40c from 43c after the company agreed to sell Agilex Biolabs to Novotech for $160m.

Expected net proceeds of around $155m should leave Healius with net cash and reduce the risk of an equity raising while it funds the pathology turnaround.

Morgans regards the sale as a pragmatic exit from a difficult investment, rather than a major change to the investment case.

The broker cuts its FY27-FY29 EBIT forecasts by -8-14% to remove Agilex's contribution.

Commentary states pathology remains the key test: FY26 volumes fell -1.3%, and the margin target has been pushed out to December 2028.

The 1H27 result is the next potential catalyst, while weak volumes and higher labour costs remain the main risks, today's report concludes.

FORECAST
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.00 cents.
Morgans forecasts a full year FY28 dividend of 1.00 cents and EPS of minus -3.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$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

Jarden

28/10/2026

3

Neutral

$0.51

2.00%

Jarden maintains its Neutral rating for Healius with its target price reduced to $0.51 from $0.54 following a first-quarter trading update.

Revenue grew 1.6% during the period despite a -4.9% volume decline caused by hospital contract losses and ACC closures.

Volume headwinds were offset by a 6% increase in average fee per test alongside disciplined cost control yielding a -0.5% reduction in expenses.

The analyst highlights risks to full-year pathology guidance due to wage increases and reliance on second-half revenue acceleration.

Reaffirmed EBIT guidance stands at $39.7m for FY27.
Access Extra Coverage Research History >

HLS STOCK CHART

FNArena News on HLS

1
Next Week At A Glance – 2-6 Nov 2026

Oct 30 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Oct 28, 2026

Oct 28 2026 - Daily Market Reports
3
Next Week At A Glance – 5-9 Oct 2026

Oct 02 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Sep 30, 2026

Sep 30 2026 - Daily Market Reports
5
Next Week At A Glance – 28 Sept – 2 Oct 2026

Sep 25 2026 - Weekly Reports

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