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

$0.745

07 Jul
2025

-0.030

OPEN

$0.78

-3.87%

HIGH

$0.79

4,151,805

LOW

$0.75

TARGET
$1.10 47.7% 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 . SLA .
FNARENA'S MARKET CONSENSUS FORECASTS
MVF: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 1.7 7.3 xxx
DPS (cps) xxx 5.0 4.9 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 13.6% - 3.0% xxx
PE Ratio xxx N/A 10.3 xxx
Dividend Yield xxx N/A 6.5% xxx
Div Pay Ratio(%) xxx N/A 66.7% xxx

Dividend yield today if purchased 3 years ago: 4.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.76

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

1.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

16/06/2025

1

Buy

$0.95

27.52%

Following a second embryo mix-up incident at Monash IVF and the subsequent resignation of its CEO, Ord Minnett highlights several risks to the company's outlook.

They include weaker new patient volumes, likely loss of medical staff, higher opex and increased regulation. As a result, the broker downgraded FY26-27 EPS by -13-14%.

Still, the analyst maintained the Buy rating as a 10x FY27 price-earnings multiple is regarded as an attractive entry point.

Target cut to $0.95 from $1.05.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 4.70 cents and EPS of 7.40 cents.
Ord Minnett forecasts a full year FY26 dividend of 3.90 cents and EPS of 5.80 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

12/06/2025

1

Overweight

$1.25

67.79%

The analysts at Wilsons express concern over reputational risk for Monash IVF following a second embryo transfer error, this time at its Clayton laboratory, disclosed in June 2025. (Indeed, Chief Executive Michael Knaap has since resigned).

The broker highlights the close timing of this incident with a prior Brisbane clinic error could weigh on short-term Australian market share, despite management's assurance the two events occurred years apart.

The company has launched an internal investigation, extended the scope of an existing independent review, notified ART regulators, and will temporarily enhance verification procedures beyond standard practice.

The broker notes FY25 guidance for underlying profit of circa $27.5m remains unchanged, and insurance coverage is expected to mitigate financial impact.

Wilsons makes no changes to financial forecasts but places its Overweight rating and $1.25 target under review.

FORECAST
Wilsons forecasts a full year FY25 dividend of 4.80 cents and EPS of 6.90 cents.
Wilsons forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.10 cents.
Access Extra Coverage Research History >

MVF STOCK CHART

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