FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (FPH)
Share Price Analysis and Chart

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FPH

FPH - FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: March
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.23
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Fisher & Paykel Healthcare is a designer and manufacturer of systems used in respiratory care and treatment of sleep disorders. It was separated from Fisher & Paykel and listed on the ASX and NZX in 2001. A brief Nasdaq listing was terminated in 2003. Only 1% of its revenues stems from New Zealand.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$33.92

13 Jun
2025

-0.390

OPEN

$34.34

-1.14%

HIGH

$34.61

347,072

LOW

$33.73

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FNARENA'S MARKET CONSENSUS FORECASTS
FPH: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 66.2 xxx
DPS (cps) 43.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 51.2 xxx
Dividend Yield 1.3% xxx
Div Pay Ratio(%) 66.2% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 2.28%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.16

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: 05/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx58.6
DPS All xxxxxxxxxxxxxxx45.5
Sales/Revenue xxxxxxxxxxxxxxx1,842.0 M
Book Value Per Share xxxxxxxxxxxxxxx293.2
Net Operating Cash Flow xxxxxxxxxxxxxxx499.4 M
Net Profit Margin xxxxxxxxxxxxxxx18.64 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx20.62 %
Return on Invested Capital xxxxxxxxxxxxxxx19.75 %
Return on Assets xxxxxxxxxxxxxxx15.57 %
Return on Equity xxxxxxxxxxxxxxx20.62 %
Return on Total Capital xxxxxxxxxxxxxxx25.59 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx254.1 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 xxxxxxxxxxxxxxx79 M
Long Term Debt xxxxxxxxxxxxxxx61 M
Total Debt xxxxxxxxxxxxxxx139 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx240 M
Price To Book Value xxxxxxxxxxxxxxx10.40

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx93.8 M
Capex % of Sales xxxxxxxxxxxxxxx5.09 %
Cost of Goods Sold xxxxxxxxxxxxxxx683 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx693 M
Research & Development xxxxxxxxxxxxxxx207 M
Investments - Total xxxxxxxxxxxxxxx35 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

0.5

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

-

xx.xx%

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Morgan Stanley

02/06/2025

1

Upgrade to Overweight from Equal-weight

-

-

Morgan Stanley raises its price target for Fisher & Paykel Healthcare to NZ$38.90 from NZ$36.70 ($35.90 from $34) and upgrades to Overweight from Equal-weight.

Attractive medium-to-long-term earnings growth is expected to be supported by solid revenue expansion and margin recovery.

The broker notes FY25 results were followed by an around -4% share price decline due to softer FY26 guidance. 

Regardless, the broker points to new applications revenue rising by 18% in constant currency and anaesthesia penetration continuing to scale.

Gross margin improved 181bps to 62.9% in FY25, with further gains forecast in FY26, despite expected headwinds from tariffs and currency, note the analysts. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 42.86 cents and EPS of 65.66 cents.
Morgan Stanley forecasts a full year FY27 dividend of 52.07 cents and EPS of 80.25 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Jarden

02/06/2025

3

Neutral

-

-

Fisher & Paykel Healthcare's FY25 revenue was slightly weaker than Jarden's forecast, but net profit was in line, and free cash flow was strong. 

Homecare revenue slowed in 2H due mainly to lower mask sales as new competitors entered the market.  Hospital revenue was up 18% y/y, though growth slowed in 2H even in this segment. 

The company's FY26 revenue guidance was below the broker's forecast, prompting a downgrade in revised forecasts.

The broker removed tariff impact from its forecasts and accounted for a larger hedge book after the company increased hedging due to NZD's recent weakness. The net result was a 2% lift to FY26 EPS.

Neutral. Target price rises to NZ$34.50 from NZ$33.20.

FORECAST
Jarden forecasts a full year FY26 dividend of 44.68 cents and EPS of 68.76 cents.
Jarden forecasts a full year FY27 dividend of 51.07 cents and EPS of 78.24 cents.
Access Extra Coverage Research History >

FPH STOCK CHART

FNArena News on FPH

1
Weekly Ratings, Targets, Forecast Changes – 06-06-25

Jun 10 2025 - Weekly Reports
2
Fisher & Paykel Healthcare’s Tariffs Annoyance

Jun 04 2025 - Australia
3
Australian Broker Call *Extra* Edition – Jun 02, 2025

Jun 02 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 30-05-2025

May 30 2025 - Australia
5
Rudi’s View: The Contrarians’ View

May 29 2025 - Rudi's View

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