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

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FPH - FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED

FNArena Sector : Medical Equipment & Devices
Year End: March
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.39
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

$34.16

23 Dec
2024

-0.020

OPEN

$33.31

-0.06%

HIGH

$34.50

318,409

LOW

$33.31

TARGET
$23.055 -32.5% downside
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FNARENA'S MARKET CONSENSUS FORECASTS
FPH: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 54.9 xxx
DPS (cps) 43.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 62.2 xxx
Dividend Yield 1.3% xxx
Div Pay Ratio(%) 78.4% 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: 1.21%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.10

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 - ex-div 16.59c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx21.1
DPS All xxxxxxxxxxxxxxx45.3
Sales/Revenue xxxxxxxxxxxxxxx1,629.7 M
Book Value Per Share xxxxxxxxxxxxxxx276.4
Net Operating Cash Flow xxxxxxxxxxxxxxx398.2 M
Net Profit Margin xxxxxxxxxxxxxxx7.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.56 %
Return on Invested Capital xxxxxxxxxxxxxxx7.12 %
Return on Assets xxxxxxxxxxxxxxx5.92 %
Return on Equity xxxxxxxxxxxxxxx7.56 %
Return on Total Capital xxxxxxxxxxxxxxx19.20 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-30.3 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 xxxxxxxxxxxxxxx88 M
Long Term Debt xxxxxxxxxxxxxxx85 M
Total Debt xxxxxxxxxxxxxxx173 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx75 M
Price To Book Value xxxxxxxxxxxxxxx8.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx314.2 M
Capex % of Sales xxxxxxxxxxxxxxx19.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx647 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx641 M
Research & Development xxxxxxxxxxxxxxx184 M
Investments - Total xxxxxxxxxxxxxxx49 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

0.1

No. Of Recommendations

5
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

5

xxxx

-

xx.xx%

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UBS

29/11/2024

1

Buy

-

-

Fisher & Paykel Healthcare's outlook looks solid, with UBS projecting CAGR EPS of 25% for the four years starting from FY25, but the share price is already seen reflecting this.

Given its superior growth outlook, the broker also believes Fisher & Paykel Healthcare should retain its valuation premium vis a vis larger cap healthcare sector peers.

The released H1 financials met the broker's forecasts, but underlying revealed multiple differences, including stronger revenues from hospitals, lower revenues from homecare, and also a higher gross margin.

UBS highlights potential US tariffs on Mexican imports could inflict a negative impact, estimated at -2-3% on EPS. Valuation has improved to NZ$38.10 from NZ$36. Buy.

FORECAST
UBS forecasts a full year FY25 dividend of 49.54 cents and EPS of 57.79 cents.
UBS forecasts a full year FY26 dividend of 58.71 cents and EPS of 72.47 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

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

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

-

xx.xx%

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Wilsons

02/12/2024

3

Downgrade to Market Weight from Overweight

$34.93

2.25%

Wilsons notes Fisher & Paykel Healthcare's first-half results included 19% revenue growth year-on-year, with solid performance in Hospital and Homecare segments.

Gross margin reached 61.9%, exceeding guidance, though the broker anticipates softer improvement ahead with potential headwinds in FY26.

NewApps consumables grew 27%, driven by adoption in new settings such as anaesthesia, while Homecare benefited from mask launches and durable resupply demand, explains the analyst.

Wilsons lowers profit  forecasts by between -2% to -4% for FY25-FY27, reflecting expectations for slower gross margin development. The rating is downgraded to Market Weight from Overweight, and the target eases to $34.93 from $35.

FORECAST
Wilsons forecasts a full year FY25 dividend of 38.99 cents and EPS of 53.11 cents.
Wilsons forecasts a full year FY26 dividend of 44.03 cents and EPS of 63.76 cents.
Access Extra Coverage Research History >

FPH STOCK CHART

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