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

$0.77

27 May
2025

-0.010

OPEN

$0.79

-1.28%

HIGH

$0.79

2,846,416

LOW

$0.76

TARGET
$1.125 46.1% 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% - 2.5% xxx
PE Ratio xxx N/A 10.4 xxx
Dividend Yield xxx N/A 6.4% xxx
Div Pay Ratio(%) xxx N/A 67.0% xxx

Dividend yield today if purchased 3 years ago: 4.67%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.58

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxxx xxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

21/05/2025

1

Outperform

$1.30

68.83%

Monash IVF lowered its FY25 underlying net profit guidance by around -9.8% from the midpoint of the previous range, and Macquarie cut its forecast to align with the guidance.

The broker has factored in -70bps market share losses in 2H25 (from a 30bps gain forecast before) and expects further losses in FY26 and FY27.

The analyst also expects operating costs to rise as the company increases marketing costs following the recent embryo transfer error and higher salaries to retain staff.

EPS forecasts for FY25 and FY26 cut by -9.5% and -17.2%, respectively. Outperform. Target cut to $1.30 from $1.60.

FORECAST
Macquarie forecasts a full year FY25 dividend of 5.20 cents and EPS of 7.00 cents.
Macquarie forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.00 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

28/05/2025

1

Overweight

$1.25

62.34%

Monash IVF has cut FY25 net profit guidance by -10% to $27.5m, citing a slowdown in IVF cycles, particularly in Victoria, where volumes fell -20% YoY.

Wilsons sees no financial impact yet from April’s embryo mix-up and notes market share has held steady at 21.8%. Forecast EPS is downgraded -10%-18% over FY25-27, and the price target has been lowered to $1.25 (was $1.40). 

Commentary highlights cycle volume softness and offshore price pressure are keeping margins under pressure. Management says May volumes improved, but not enough to offset a weak March–April. Overweight.

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

FNArena News on MVF

1
Australian Broker Call *Extra* Edition – May 28, 2025

May 28 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – May 26, 2025

May 26 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 23-05-25

May 26 2025 - Weekly Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 23-05-25

May 23 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – May 19, 2025

May 19 2025 - Daily Market Reports

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