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: 2.25
Index: ASX300 | 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

$0.835

05 May
2025

-0.020

OPEN

$0.84

-2.34%

HIGH

$0.87

1,396,102

LOW

$0.84

TARGET
$1.298 55.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . AHX . ALC . BMT . DOC . EBO . HLS . M7T . MDR . MPL . NHF . PSQ . RHC . SHL . SLA .
FNARENA'S MARKET CONSENSUS FORECASTS
MVF: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 1.7 8.0 xxx
DPS (cps) xxx 5.0 5.2 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 13.6% 4.5% xxx
PE Ratio xxx N/A 10.3 xxx
Dividend Yield xxx N/A 6.3% xxx
Div Pay Ratio(%) xxx N/A 65.3% xxx

Dividend yield today if purchased 3 years ago: 4.10%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.06

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: 07/03 - ex-div 2.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-1.7
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx255.0 M
Book Value Per Share xxxxxxxxxxxxxxx62.1
Net Operating Cash Flow xxxxxxxxxxxxxxx50.0 M
Net Profit Margin xxxxxxxxxxxxxxx-2.56 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-2.53 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.77 %
Return on Assets xxxxxxxxxxxxxxx-1.40 %
Return on Equity xxxxxxxxxxxxxxx-2.53 %
Return on Total Capital xxxxxxxxxxxxxxx11.02 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx10.8 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 xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx127 M
Total Debt xxxxxxxxxxxxxxx135 M
Goodwill - Gross xxxxxxxxxxxxxxx273 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx11 M
Price To Book Value xxxxxxxxxxxxxxx2.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx21.7 M
Capex % of Sales xxxxxxxxxxxxxxx8.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx180 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx33 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 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

0.8

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

22/04/2025

1

Upgrade to Buy from Hold

$1.25

49.70%

Ord Minnett upgrades Monash IVF to Buy from Hold, with a target price set at $1.10, down from $1.25, following the -30% decline in the share price after the embryo mix-up at its Brisbane clinic last week and a wave of negative media coverage.

Unfortunately, this is not an isolated incident in the global IVF industry, the analyst explains, noting that since 1973, an estimated 60m IVF cycles have been performed, with 205 "severe" incidents documented, around 80% in the US, and embryo mix-ups accounting for approximately 75% of these incidents.

Some 76 legal suits with $4.4m in damages were the result. Despite this, US IVF cycles have expanded at over twice the rate of Australia’s over the last ten years, Ord Minnett explains.

The broker lowers FY26–FY27 EPS estimates by -11% and -9%, respectively.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 5.20 cents and EPS of 8.00 cents.
Ord Minnett forecasts a full year FY26 dividend of 4.90 cents and EPS of 7.30 cents.

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx 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

Wilsons

10/03/2025

1

Overweight

$1.43

71.26%

Wilsons Advisory notes Monash IVF's 1H25 result showed revenue of $140.3m, up 12% year-on-year, exceeding estimates by 1%-2%.

Australian revenue rose 11%, supported by a six-month contribution from Fertility North, though IVF cycles were flat.

International revenue increased 25%, driven by Kuala Lumpur, Singapore, and Bali. EBITDA margins contracted -60bps due to a ~2% IVF industry decline, partially offset by higher frozen embryo transfers and cost reductions.

The broker notes FY25 net profit after tax guidance of $30m-$31m is 2% above its prior estimate. Wilsons' earnings forecasts for FY25-FY27 were adjusted by -1% to 4%.

Target price weakens to $1.43 from $1.46. Overweight rating retained.

FORECAST
Wilsons forecasts a full year FY25 dividend of 5.40 cents and EPS of 7.70 cents.
Wilsons forecasts a full year FY26 dividend of 6.00 cents and EPS of 8.50 cents.
Access Extra Coverage Research History >

MVF STOCK CHART

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