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: 2.7
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

$0.675

15 Sep
2025

0.005

OPEN

$0.67

0.75%

HIGH

$0.68

1,595,081

LOW

$0.66

TARGET
$0.92 36.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . AHX . ALC . BMT . DOC . EBO . HLS . IDX . M7T . MDR . MPL . NHF . PSQ . RHC . SHL .
FNARENA'S MARKET CONSENSUS FORECASTS
MVF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.4 5.3 xxx
DPS (cps) xxx 0.0 2.9 xxx
EPS Growth xxx N/A - 17.8% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 12.8 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx N/A 54.0% 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: 07/03 - ex-div 2.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx6.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx271.9 M
Book Value Per Share xxxxxxxxxxxxxxx63.2
Net Operating Cash Flow xxxxxxxxxxxxxxx8.9 M
Net Profit Margin xxxxxxxxxxxxxxx9.20 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.25 %
Return on Invested Capital xxxxxxxxxxxxxxx6.36 %
Return on Assets xxxxxxxxxxxxxxx5.00 %
Return on Equity xxxxxxxxxxxxxxx10.25 %
Return on Total Capital xxxxxxxxxxxxxxx11.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-23.4 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 xxxxxxxxxxxxxxx10 M
Long Term Debt xxxxxxxxxxxxxxx170 M
Total Debt xxxxxxxxxxxxxxx180 M
Goodwill - Gross xxxxxxxxxxxxxxx273 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx1.12

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx14.4 M
Capex % of Sales xxxxxxxxxxxxxxx5.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx196 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx31 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 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

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Macquarie

25/08/2025

1

Outperform

$1.00

48.15%

Monash IVF reported in-line FY25 results with FY26 guidance coming in lower than Macquarie expected, which is expected to rebase earnings and push out a recovery into FY27.

FY26 guidance of underlying net profit after tax at $20m-$23m compared to the analyst's previous estimate at $27.5m, due to softer new patient registrations in 2H25, down -10.1%, with price increases delayed across the eastern states.

A more challenging Vic market is viewed as the key issue due to adverse macro conditions and higher competition.

Macquarie lowers its EPS forecasts by -21% in FY26 and -2% in FY27. Target price falls -23% to $1 from $1.30. No change to Outperform rating due to upside in the medium term with an improving macro environment.

FORECAST
Macquarie forecasts a full year FY26 dividend of 2.60 cents and EPS of 5.50 cents.
Macquarie forecasts a full year FY27 dividend of 2.60 cents and EPS of 5.90 cents.

Ord Minnett

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

Wilsons

02/09/2025

3

Downgrade to Market Weight from Overweight

$0.72

6.67%

Wilsons downgraded Monash IVF to Market Weight from Overweight and cut the target price to $0.72, a -20% discount to discounted cash flow, from $1.25. 

The combination of patient volume decline, market share losses, weak pricing power, and negative operating leverage leaves the outlook too uncertain for a positive recommendation, the broker notes. 

M&A potential at depressed multiples is a reason to hold, but near-term earnings risk dominates, the broker adds.

FY25 revenue rose 7% y/y, meeting the broker's forecast but missing the consensus. The company is guiding to net profit of $20-23m in FY26, which implies -21.5% lower y/y.

The broker downgraded its net profit forecast by -29% y/y to $19.6m.

FORECAST
Wilsons forecasts a full year FY26 dividend of 3.50 cents and EPS of 5.00 cents.
Wilsons forecasts a full year FY27 dividend of 3.70 cents and EPS of 5.30 cents.
Access Extra Coverage Research History >

MVF STOCK CHART

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Sep 03 2025 - Rudi's View

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