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

$0.70

22 Aug
2025

-0.110

OPEN

$0.74

-13.58%

HIGH

$0.74

18,670,198

LOW

$0.66

TARGET
$0.92

-0.18 change from previous day

 31.4% 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 13.1 xxx
Dividend Yield xxx N/A 4.1% 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

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

25/08/2025

1

Buy

$0.95

35.71%

In line with Ord Minnett's forecast and management's guidance, Monash IVF reported FY25 profit of $27m, down -8% year-on-year. 

Revenue pressures, operational incidents, and higher depreciation and interest costs weighed on performance, highlights the broker, while new patient registrations also fell -10% in the second half.

Domestic stimulated cycles declined -5% with market share losses in Victoria and Queensland, note the analysts, while margins slipped -20bps to 24.4%. Net debt to earnings was 1.7 times after -$39m in class action payments.

No final dividend was declared.

FY26 guidance of $20-23m implies a -22% fall at the midpoint, with the broker positioning at the lower end of the range. Recovery is expected in FY27 as revenue growth returns and costs are leaner.

Ord Minnett keeps its target price at 95c and maintains a Buy rating.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 3.40 cents and EPS of 5.10 cents.
Ord Minnett forecasts a full year FY27 dividend of 3.90 cents and EPS of 6.00 cents.

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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

78.57%

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 FY26 dividend of 5.00 cents and EPS of 7.10 cents.
Access Extra Coverage Research History >

MVF STOCK CHART

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