HEALIUS LIMITED (HLS)
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HLS

HLS - HEALIUS LIMITED

FNArena Sector : Healthcare services
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 4.06
Index: ASX300 | ALL-ORDS

Healius, formerly Primary Health Care, is an Australian provider of Pathology, Diagnostic and Day Hospital services. It has been listed since 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.69

26 Feb
2026

0.015

OPEN

$0.69

2.22%

HIGH

$0.70

4,640,117

LOW

$0.66

TARGET
$0.81 17.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACL . ALC . BMT . DOC . EBO . IDX . M7T . MPL . MVF . NHF . RHC . SHL .
FNARENA'S MARKET CONSENSUS FORECASTS
HLS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 72.5 0.7 xxx
DPS (cps) xxx 41.3 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 98.6 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 15.02%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 60.29

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: 09/05 - ex-div 41.30c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-72.5
DPS All xxxxxxxxxxxxxxx41.3
Sales/Revenue xxxxxxxxxxxxxxx1,344.2 M
Book Value Per Share xxxxxxxxxxxxxxx81.0
Net Operating Cash Flow xxxxxxxxxxxxxxx262.7 M
Net Profit Margin xxxxxxxxxxxxxxx-41.88 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-69.14 %
Return on Invested Capital xxxxxxxxxxxxxxx-30.55 %
Return on Assets xxxxxxxxxxxxxxx-23.66 %
Return on Equity xxxxxxxxxxxxxxx-69.14 %
Return on Total Capital xxxxxxxxxxxxxxx0.01 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-91.2 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 xxxxxxxxxxxxxxx181 M
Long Term Debt xxxxxxxxxxxxxxx731 M
Total Debt xxxxxxxxxxxxxxx912 M
Goodwill - Gross xxxxxxxxxxxxxxx430 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx57 M
Price To Book Value xxxxxxxxxxxxxxx0.97

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx65.9 M
Capex % of Sales xxxxxxxxxxxxxxx4.90 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,124 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx220 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

19/02/2026

3

Neutral

$0.78

13.04%

Macquarie lowers its target price for Healius to $0.78 from $0.88 and maintains a Neutral rating following a mixed 1H26 result.

While revenue and earnings (EBITDA) beat the broker's expectations, underlying EBIT missed by around -50% on higher D&A and net interest costs.

FY26 EBIT guidance of around $48m implies to the analyst a significant 2H skew, with the broker cautious on execution as well as flat pathology volumes exiting Q2.

Macquarie lowers its FY26/27/28 EPS forecasts by -36%, -9%, and -8%, respectively, reflecting updated depreciation and interest assumptions. Ongoing uncertainty is also expected around the Fair Work Commission outcome.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.30 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.80 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$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

Jarden

24/02/2026

4

Underweight

$0.77

11.59%

Healius reported 1H26 EBITDA of $122.2m, a -1.2% miss versus consensus, with EBIT of $7.9m implying around 83% of FY26 EBIT guidance of circa $48m is weighted to 2H26, which Jarden suggests heightens earnings risk.

The broker notes restructuring benefits are emerging through lab rationalisation, collection centre closures and 400FTE reductions, but believes delivery of guidance relies heavily on a seasonal uplift in pathology volumes and improved mix.

Cash flow disappointed due to a -$22.7m ATO settlement, -$11.6m in termination costs and a further circa -$19m lease liability settlement. The analyst warns the balance sheet may return to net debt.

Jarden retains an Underweight rating and the target price decreases to $0.77 from $0.81 following earnings forecast downgrades for FY26-FY28.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.70 cents.
Jarden forecasts a full year FY27 EPS of 2.00 cents.
Access Extra Coverage Research History >

HLS STOCK CHART

FNArena News on HLS

1
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Feb 24, 2026

Feb 24 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 19-02-2026

Feb 19 2026 - Australia
4
Rudi Interviewed: February Is Less About Earnings

Feb 12 2026 - Rudi's View
5
Rudi’s View: Woolies, CSL, Macquarie (& More)

Feb 05 2026 - Rudi's View

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