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: 3.86
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

$0.435

27 Aug
2026

0.010

OPEN

$0.42

2.35%

HIGH

$0.45

5,299,968

LOW

$0.42

TARGET
$0.48 10.3% 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 FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx - 57.2 - 0.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A 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: 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

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 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx-57.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,373.2 M
Book Value Per Share xxxxxxxxxxxxxxx23.6
Net Operating Cash Flow xxxxxxxxxxxxxxx208.2 M
Net Profit Margin xxxxxxxxxxxxxxx-29.78 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx-107.69 %
Return on Invested Capital xxxxxxxxxxxxxxx-35.42 %
Return on Assets xxxxxxxxxxxxxxx-25.60 %
Return on Equity xxxxxxxxxxxxxxx-107.69 %
Return on Total Capital xxxxxxxxxxxxxxx2.26 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx164.9 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx180 M
Long Term Debt xxxxxxxxxxxxxxx819 M
Total Debt xxxxxxxxxxxxxxx999 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx67 M
Price To Book Value xxxxxxxxxxxxxxx1.65

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx43.3 M
Capex % of Sales xxxxxxxxxxxxxxx3.15 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,119 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx224 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

20/08/2026

3

Neutral

$0.45

3.45%

Healius' FY26 revenue and earnings were largely in line, but interest was ahead of consensus, driving profit down -86% below consensus, Macquarie notes. FY27 earnings guidance is in line, factoring in cost growth up to 3.5% and like-for-like pathology volume growth in line with the industry.

Management expects Health Professional Award wages to increase 5%pa to FY31 in addition to Annual Wage Reviews. Given wage pressures and subdued GP attendances, and growth in telehealth, earnings margin guidance has been watered down.

While margins are improving due to cost-out savings, Macquarie remains cautious given Healius faces ongoing wage pressures from the Fair Work Commission gender undervaluation case and subdued GP attendances.

Target rises to 45c from 39c, Neutral retained.

FORECAST
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.10 cents.
Macquarie forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.50 cents.

Ord Minnett

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx 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

24/08/2026

3

Upgrade to Neutral from Underweight

$0.50

14.94%

Jarden moves its recommendation for Healius to Neutral from Underweight with its target price increased to $0.50 from $0.47 following an FY26 result marked by EBITDA of $258.6m and EBIT of $30.2m, landing at the bottom end of revised guidance.

Pathology lost market share during the year while anticipated volume benefits from the bulk billing incentive fee failed to materialise.

Second-half EBIT margin contracted by –80 basis points against the prior corresponding period, pressured by Medicare test cuts, lack of indexation, and initial Fair Work wage increases.

Management expects to limit pathology cost growth to a 3.5% increase in FY27 despite another step-up in wage pressures.

The analyst highlights potential upside risks surrounding the pending Agilex sale, supporting the rating upgrade.
Access Extra Coverage Research History >

HLS STOCK CHART

FNArena News on HLS

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports
2
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 20-08-2026

Aug 20 2026 - Australia
5
Next Week At A Glance – 17-21 Aug 2026

Aug 14 2026 - Weekly Reports

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