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

$1.09

25 Mar
2025

-0.010

OPEN

$1.10

-0.91%

HIGH

$1.11

1,087,580

LOW

$1.08

TARGET
$1.51 38.5% 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 8.1 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 13.4 xxx
Dividend Yield xxx N/A 4.8% xxx
Div Pay Ratio(%) xxx N/A 64.7% xxx

Dividend yield today if purchased 3 years ago: 4.10%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.63

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

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

28/02/2025

1

Add

$1.45

33.03%

Monash IVF reported 1H25 NPAT of $15.8m, up 5.5%, in line with guidance, Morgans notes.

The company generated 11.6% revenue growth driven by Australian revenue up 10.8% and Southeast Asia up 24.9%. Market share increased to 21.5% despite a -2.1% industry decline in Australia. Genetic carrier screening volumes rose 80%.

Southeast Asia EBIT grew 74%, with momentum in Kuala Lumpur and Singapore following the Jakarta JV exit. Revenue in the region is expected to grow over 10% annually, with potential M&A opportunities, the analyst explains.

Morgans lowers FY25/26 revenue forecasts by -2%/-1%, with NPAT down by -4%/-2%, respectively on higher depreciation. 

Target price slips to $1.45 from $1.50. Add rating remains.

FORECAST
Morgans forecasts a full year FY25 dividend of 5.20 cents and EPS of 8.00 cents.
Morgans forecasts a full year FY26 dividend of 6.00 cents and EPS of 9.00 cents.

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
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

31.19%

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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