Financials Fisher & Paykel Healthcare Corporation Limited

Equities

FPH

NZFAPE0001S2

Medical Equipment, Supplies & Distribution

End-of-day quote New Zealand S.E. 23:00:00 21/07/2024 BST 5-day change 1st Jan Change
31.85 NZD +0.63% Intraday chart for Fisher & Paykel Healthcare Corporation Limited +2.61% +34.96%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 17,455 18,494 14,056 15,436 14,979 18,655 - -
Enterprise Value (EV) 1 17,413 18,191 13,835 15,398 15,011 18,678 18,676 18,625
P/E ratio 61.3 x 35.5 x 37.5 x 62 x 113 x 54.9 x 45.7 x 38.1 x
Yield 0.91% 1.18% 1.62% 1.52% 1.62% 1.38% 1.54% 1.69%
Capitalization / Revenue 13.8 x 9.38 x 8.36 x 9.76 x 8.59 x 9.54 x 8.56 x 7.71 x
EV / Revenue 13.8 x 9.23 x 8.23 x 9.74 x 8.61 x 9.55 x 8.57 x 7.69 x
EV / EBITDA 40.5 x 23.1 x 23 x 35.7 x 32.1 x 32.3 x 27.5 x 23.4 x
EV / FCF 116 x 41.3 x 74.4 x 572 x 203 x 60.2 x 70.2 x 52.4 x
FCF Yield 0.87% 2.42% 1.34% 0.17% 0.49% 1.66% 1.42% 1.91%
Price to Book 18.1 x 12.2 x 8.37 x 8.8 x 8.51 x 9.95 x 9.15 x 8.26 x
Nbr of stocks (in thousands) 574,571 576,122 577,269 579,219 583,964 585,713 - -
Reference price 2 30.38 32.10 24.35 26.65 25.65 31.85 31.85 31.85
Announcement Date 28/06/20 26/05/21 24/05/22 25/05/23 28/05/24 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 1,264 1,971 1,682 1,581 1,743 1,956 2,178 2,421
EBITDA 1 430.2 785.8 601.6 431.2 467.7 578.5 678 797.1
EBIT 1 379.3 712.3 505.6 332.2 373.4 460.8 555.8 668
Operating Margin 30.02% 36.14% 30.06% 21.01% 21.43% 23.56% 25.51% 27.59%
Earnings before Tax (EBT) 1 370.5 718.2 504.2 328 235.7 454.2 549.1 662.7
Net income 1 287.3 524.2 376.9 250.3 132.6 339.8 409.7 490.9
Net margin 22.73% 26.59% 22.41% 15.83% 7.61% 17.38% 18.81% 20.28%
EPS 2 0.4960 0.9040 0.6500 0.4300 0.2262 0.5805 0.6975 0.8354
Free Cash Flow 1 150.7 440.6 185.9 26.9 73.8 310.1 266 355.4
FCF margin 11.93% 22.35% 11.05% 1.7% 4.23% 15.86% 12.21% 14.68%
FCF Conversion (EBITDA) 35.03% 56.07% 30.9% 6.24% 15.78% 53.6% 39.22% 44.59%
FCF Conversion (Net income) 52.45% 84.05% 49.32% 10.75% 55.66% 91.24% 64.92% 72.39%
Dividend per Share 2 0.2750 0.3800 0.3950 0.4050 0.4150 0.4381 0.4896 0.5389
Announcement Date 28/06/20 26/05/21 24/05/22 25/05/23 28/05/24 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1 2026 S2
Net sales 1 692.8 910.2 1,061 900 781.7 690.6 890.5 803.7 939.1 900.8 1,061 - -
EBITDA - - - 348.4 253.2 - 254 - - - - - -
EBIT 1 213.3 309.2 403.1 302.4 203.2 126.7 205.5 152.6 220.8 184.6 277.7 - -
Operating Margin 30.79% 33.97% 37.99% 33.6% 25.99% 18.35% 23.08% 18.99% 23.51% 20.49% 26.17% - -
Earnings before Tax (EBT) 1 210.8 313 - 301.1 203.1 114.3 213.7 140.6 95.1 177.8 273.6 - -
Net income 1 166.1 225.5 - 221.8 155.1 95.9 154.4 107.3 25.3 133.4 199.8 - -
Net margin 23.98% 24.77% - 24.64% 19.84% 13.89% 17.34% 13.35% 2.69% 14.81% 18.83% - -
EPS 2 - 0.3890 0.5150 0.3830 0.2670 0.1660 0.2640 0.1850 0.0420 0.2227 0.3470 0.3300 0.3200
Dividend per Share 2 0.1550 0.1600 - 0.1700 0.2250 0.1750 0.2250 0.1800 0.2350 0.1800 0.2700 - -
Announcement Date 28/06/20 24/11/20 26/05/21 24/11/21 24/05/22 28/11/22 25/05/23 28/11/23 28/05/24 - - - -
1NZD in Million2NZD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 - - - - 32.2 23.1 20.9 -
Net Cash position 1 42.2 303 222 37.7 - - - 29.6
Leverage (Debt/EBITDA) - - - - 0.0688 x 0.0399 x 0.0309 x -
Free Cash Flow 1 151 441 186 26.9 73.8 310 266 355
ROE (net income / shareholders' equity) 30.5% 42% 23.6% 19.1% 13.4% 18.6% 20.8% 22.9%
ROA (Net income/ Total Assets) 21.8% 29.9% 18% 15.2% 10.5% 15.6% 17.1% 18.7%
Assets 1 1,321 1,755 2,091 1,647 1,263 2,183 2,391 2,631
Book Value Per Share 2 1.680 2.640 2.910 3.030 3.010 3.200 3.480 3.850
Cash Flow per Share 2 0.5600 1.080 0.5600 0.4100 0.7300 0.8400 0.8800 1.000
Capex 1 171 185 138 188 317 142 228 221
Capex / Sales 13.51% 9.37% 8.23% 11.88% 18.18% 7.29% 10.49% 9.13%
Announcement Date 28/06/20 26/05/21 24/05/22 25/05/23 28/05/24 - - -
1NZD in Million2NZD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
31.85 NZD
Average target price
25.95 NZD
Spread / Average Target
-18.52%
Consensus
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  4. Financials Fisher & Paykel Healthcare Corporation Limited