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

$0.38

14 Oct
2026

-0.005

OPEN

$0.38

-1.30%

HIGH

$0.39

4,833,748

LOW

$0.37

TARGET
$0.463 21.9% upside
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

-0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

28/09/2026

3

Neutral

$0.43

13.16%

Healius has agreed to sell clinical-trials business Agilex to Novotech Health for $160m, representing 19.8 times FY26 earnings, subject to FIRB and ACCC approval.

Macquarie notes completion is expected in the second half of FY27, generating around $155m in net cash proceeds and moving Healius into a net cash position.

While the sale provides capital-management flexibility, the analyst remains cautious due to pathology wage pressures, subdued GP attendances and margin-recovery execution risk.

Macquarie retains its Neutral rating on Healius and lowers its target by -4% to 43c.

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

Ord Minnett

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx 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

Jarden

30/09/2026

3

Neutral

$0.54

42.11%

Jarden maintains a Neutral rating for Healius with its target price increased to $0.54 from $0.50 following the announced sale of the Agilex business to Novotech for $160m.

The transaction is expected to generate $155m in net cash proceeds after costs, securing a sale price above the broker's $125m valuation despite representing a discount to the original $301.3m purchase price from December 2021.

The analyst reclassifies Agilex earnings into discontinued operations and models a transaction completion date of 1 May 2027, anticipating the resulting cash injection will return the company to a net cash position pending standard regulatory approvals.

While official use of proceeds remains unconfirmed, Jarden expects management to adopt a conservative approach by paying down debt and potentially directing capital towards improving efficiencies within the core pathology division.

The better-than-expected sale price highlights the existing valuation discount, although ongoing reservations regarding the broader pathology business support the unchanged rating.
Access Extra Coverage Research History >

HLS STOCK CHART

FNArena News on HLS

1
Next Week At A Glance – 5-9 Oct 2026

Oct 02 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Sep 30, 2026

Sep 30 2026 - Daily Market Reports
3
Next Week At A Glance – 28 Sept – 2 Oct 2026

Sep 25 2026 - Weekly Reports
4
Next Week At A Glance – 14-18 Sep 2026

Sep 11 2026 - Weekly Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports

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