MESOBLAST LIMITED (MSB)
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MSB

MSB - MESOBLAST LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: -2.26
Index: ASX200 | ASX300 | ALL-ORDS

Mesoblast is a Melbourne-headquartered medical research company investigating stem cell treatments and allogenic cellular medicines. The company was founded and listed in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.32

23 Jul
2026

-0.020

OPEN

$2.32

-0.85%

HIGH

$2.38

1,939,444

LOW

$2.29

TARGET
$4.45 91.8% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
MSB: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) - 7.8 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio N/A xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-13.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx26.6 M
Book Value Per Share xxxxxxxxxxxxxxx71.2
Net Operating Cash Flow xxxxxxxxxxxxxxx-87.3 M
Net Profit Margin xxxxxxxxxxxxxxx-593.92 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-19.34 %
Return on Invested Capital xxxxxxxxxxxxxxx-16.66 %
Return on Assets xxxxxxxxxxxxxxx-14.34 %
Return on Equity xxxxxxxxxxxxxxx-19.34 %
Return on Total Capital xxxxxxxxxxxxxxx-9.63 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-88.4 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 xxxxxxxxxxxxxxx87 M
Long Term Debt xxxxxxxxxxxxxxx109 M
Total Debt xxxxxxxxxxxxxxx196 M
Goodwill - Gross xxxxxxxxxxxxxxx205 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx247 M
Price To Book Value xxxxxxxxxxxxxxx2.32

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1.1 M
Capex % of Sales xxxxxxxxxxxxxxx4.24 %
Cost of Goods Sold xxxxxxxxxxxxxxx18 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx105 M
Research & Development xxxxxxxxxxxxxxx54 M
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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

13/07/2026

1

Upgrade to Buy from Speculative Buy

$4.45

91.81%

Mesoblast delivered fourth quarter revenue of US$36m, which Bell Potter considers "outstanding", with Ryoncil revenue of US$115m at the midpoint of guidance.

The broker points out the product was launched from a standing start in April 2025 and commercial adoption has been exceptionally strong. Forecasts for FY27 Ryoncil sales are US$275m, relative to the annualised exit rate of US$144m.

The broker believes this is achievable based on expansion of the key account manager team servicing this market, while the company has already begun to gain traction with the largest transplant centres in the US.

Target of $4.45 is retained and the rating is upgraded to Buy from Speculative Buy.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -7.77 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.56 cents.
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

Canaccord Genuity

13/07/2026

1

Buy

$3.23

39.22%

Canaccord Genuity maintains a Buy rating for Mesoblast with a $3.23 target price following a trading update for 4Q FY26.

Fourth-quarter Ryoncil net revenue reached US$36m, bringing FY26 net revenue to US$115m and landing within the guidance range of US$110m to US$120m.

The analyst notes the fourth-quarter performance reflects a solid first year of operations with market share estimated at 29%.

Annualised sales of US$144m support FY27 sales projections of US$156m driven by incremental market share gains and minimal off-label use.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.
Access Extra Coverage Research History >

MSB STOCK CHART

FNArena News on MSB

1
Weekly Ratings, Targets, Forecast Changes – 17-07-26

Jul 20 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jul 13, 2026

Jul 13 2026 - Daily Market Reports
3
The Biotech ‘Industrialisation’

Apr 20 2026 - Small Caps
4
Australian Broker Call *Extra* Edition – Apr 16, 2026

Apr 16 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Mar 11, 2026

Mar 11 2026 - Daily Market Reports

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