RAMSAY HEALTH CARE LIMITED (RHC)
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RHC

RHC - RAMSAY HEALTH CARE LIMITED

FNArena Sector : Healthcare services
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 5.71
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Ramsay Health Care is a private hospital and healthcare services group with operations in Australia, Europe and the UK. It sold its Ramsay Sime Darby Asia joint venture in 2023.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$44.32

06 Aug
2026

0.770

OPEN

$43.59

1.77%

HIGH

$44.73

732,784

LOW

$43.49

TARGET
$40.962 -7.6% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . ALC . BMT . DOC . EBO . HLS . IDX . M7T . MPL . MVF . NHF . SHL .
FNARENA'S MARKET CONSENSUS FORECASTS
RHC: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.0 134.3 xxx
DPS (cps) xxx 80.0 81.6 xxx
EPS Growth xxx - 99.2% 100.0% xxx
DPS Growth xxx 0.0% 2.0% xxx
PE Ratio xxx N/A 33.4 xxx
Dividend Yield xxx N/A 1.8% xxx
Div Pay Ratio(%) xxx 2702.7% 60.8% xxx

Dividend yield today if purchased 3 years ago: 1.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.78

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: 09/03 - ex-div 42.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.0
DPS All xxxxxxxxxxxxxxx80.0
Sales/Revenue xxxxxxxxxxxxxxx17,801.7 M
Book Value Per Share xxxxxxxxxxxxxxx2,075.4
Net Operating Cash Flow xxxxxxxxxxxxxxx1,497.3 M
Net Profit Margin xxxxxxxxxxxxxxx0.13 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx0.14 %
Return on Invested Capital xxxxxxxxxxxxxxx0.15 %
Return on Assets xxxxxxxxxxxxxxx0.11 %
Return on Equity xxxxxxxxxxxxxxx0.48 %
Return on Total Capital xxxxxxxxxxxxxxx5.82 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx559.1 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 xxxxxxxxxxxxxxx686 M
Long Term Debt xxxxxxxxxxxxxxx11,434 M
Total Debt xxxxxxxxxxxxxxx12,120 M
Goodwill - Gross xxxxxxxxxxxxxxx6,264 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx784 M
Price To Book Value xxxxxxxxxxxxxxx1.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx776.6 M
Capex % of Sales xxxxxxxxxxxxxxx4.36 %
Cost of Goods Sold xxxxxxxxxxxxxxx16,075 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx729 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx111 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
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Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

01/06/2026

5

Underweight

$32.90

-25.77%

Morgan Stanley notes APRA statistics show Australian private hospital episodes increased by 0.7% in the March quarter, affected by lower utilisation. Day episodes increased by 1% and overnight episodes were largely flat.

Private health insurance participation rose to 45.8% and private hospital benefits increased by 6.2%.

The Underweight rating for Ramsay Health Care reflects a base case that captures mid single-digit revenue growth and incremental EBITDA margin expansion with greater probability of downside risk, amid wage inflation in key markets. Target is $32.90. In-Line industry view.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 78.00 cents and EPS of 129.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 94.00 cents and EPS of 148.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$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

Jarden

30/07/2026

2

Overweight

$47.60

7.40%

Jarden maintains an Overweight rating for Ramsay Health Care with its target price increased to $47.60 from $45.20 following the acquisition of National Capital Private Hospital for a net $251m.

Settling in the first quarter of FY27, the transaction is funded through existing debt facilities, maintaining gearing below the targeted 2.5x threshold in FY27.

The co-located asset broadens the acuity mix whilst enhancing operating margins, return on invested capital, and earnings per share.

Reflecting updated UK National Health Service and foreign exchange assumptions alongside the asset incorporation from mid-August, EPS estimates are revised 1% in FY26, 5% in FY27, and -2% in FY28.

The analyst views the strategic expansion as securing a premium asset capable of driving durable multi-year operational performance across the portfolio.
Access Extra Coverage Research History >

RHC STOCK CHART

FNArena News on RHC

1
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
2
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Jul 30, 2026

Jul 30 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Jul 21, 2026

Jul 21 2026 - Daily Market Reports
5
Treasure Chest: Beware Aussie Healthcare

Jul 17 2026 - Treasure Chest

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