Financials Fisher & Paykel Healthcare Corporation Limited

Equities

FPH

NZFAPE0001S2

Medical Equipment, Supplies & Distribution

End-of-day quote New Zealand S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
27.4 NZD -1.69% Intraday chart for Fisher & Paykel Healthcare Corporation Limited +3.01% +16.10%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,007 17,455 18,494 14,056 15,436 16,001 - -
Enterprise Value (EV) 1 8,953 17,413 18,191 13,835 15,398 16,180 16,236 16,247
P/E ratio 43 x 61.3 x 35.5 x 37.5 x 62 x 62.1 x 47.8 x 39.1 x
Yield 1.48% 0.91% 1.18% 1.62% 1.52% 1.44% 1.56% 1.73%
Capitalization / Revenue 8.41 x 13.8 x 9.38 x 8.36 x 9.76 x 9.23 x 8.24 x 7.39 x
EV / Revenue 8.36 x 13.8 x 9.23 x 8.23 x 9.74 x 9.34 x 8.36 x 7.5 x
EV / EBITDA 26.8 x 40.5 x 23.1 x 23 x 35.7 x 34.4 x 28.1 x 23.7 x
EV / FCF 74.6 x 116 x 41.3 x 74.4 x 572 x 325 x 92.7 x 66.4 x
FCF Yield 1.34% 0.87% 2.42% 1.34% 0.17% 0.31% 1.08% 1.51%
Price to Book 9.85 x 18.1 x 12.2 x 8.37 x 8.8 x 8.84 x 8.36 x 7.74 x
Nbr of stocks (in thousands) 5,73,709 5,74,571 5,76,122 5,77,269 5,79,219 5,83,980 - -
Reference price 2 15.70 30.38 32.10 24.35 26.65 27.40 27.40 27.40
Announcement Date 26/05/19 28/06/20 26/05/21 24/05/22 25/05/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,070 1,264 1,971 1,682 1,581 1,733 1,942 2,166
EBITDA 1 334.3 430.2 785.8 601.6 431.2 469.9 577.7 685.3
EBIT 1 292.6 379.3 712.3 505.6 332.2 358.9 457.1 558.1
Operating Margin 27.34% 30.02% 36.14% 30.06% 21.01% 20.71% 23.53% 25.77%
Earnings before Tax (EBT) 1 291.2 370.5 718.2 504.2 328 337.1 440.9 543.8
Net income 1 209.2 287.3 524.2 376.9 250.3 256.5 331.6 402.1
Net margin 19.54% 22.73% 26.59% 22.41% 15.83% 14.8% 17.07% 18.57%
EPS 2 0.3650 0.4960 0.9040 0.6500 0.4300 0.4410 0.5735 0.7005
Free Cash Flow 1 120 150.7 440.6 185.9 26.9 49.77 175.1 244.7
FCF margin 11.21% 11.93% 22.35% 11.05% 1.7% 2.87% 9.02% 11.3%
FCF Conversion (EBITDA) 35.9% 35.03% 56.07% 30.9% 6.24% 10.59% 30.31% 35.71%
FCF Conversion (Net income) 57.36% 52.45% 84.05% 49.32% 10.75% 19.4% 52.81% 60.86%
Dividend per Share 2 0.2325 0.2750 0.3800 0.3950 0.4050 0.3936 0.4288 0.4744
Announcement Date 26/05/19 28/06/20 26/05/21 24/05/22 25/05/23 - - -
1NZD in Million2NZD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 570.9 692.8 910.2 1,061 900 781.7 690.6 890.5 803.7 927.8 896.9 1,040
EBITDA - - - - 348.4 253.2 - 254 - - - -
EBIT 1 166 213.3 309.2 403.1 302.4 203.2 126.7 205.5 152.6 204 183.9 265
Operating Margin 29.08% 30.79% 33.97% 37.99% 33.6% 25.99% 18.35% 23.08% 18.99% 21.99% 20.5% 25.49%
Earnings before Tax (EBT) 1 159.7 210.8 313 - 301.1 203.1 114.3 213.7 140.6 194.4 173.4 249.8
Net income 1 121.2 166.1 225.5 - 221.8 155.1 95.9 154.4 107.3 149.8 133.5 192.4
Net margin 21.23% 23.98% 24.77% - 24.64% 19.84% 13.89% 17.34% 13.35% 16.15% 14.88% 18.51%
EPS 2 0.2090 - 0.3890 0.5150 0.3830 0.2670 0.1660 0.2640 0.1850 0.2580 0.2550 0.3055
Dividend per Share 2 0.1200 0.1550 0.1600 - 0.1700 0.2250 0.1750 0.2250 0.1800 0.2450 0.1800 0.2600
Announcement Date 26/11/19 28/06/20 24/11/20 26/05/21 24/11/21 24/05/22 28/11/22 25/05/23 28/11/23 - - -
1NZD in Million2NZD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 179 235 246
Net Cash position 1 54.4 42.2 303 222 37.7 - - -
Leverage (Debt/EBITDA) - - - - - 0.3817 x 0.4065 x 0.3591 x
Free Cash Flow 1 120 151 441 186 26.9 49.8 175 245
ROE (net income / shareholders' equity) 25% 30.5% 42% 23.6% 19.1% 14.5% 17.8% 20.2%
ROA (Net income/ Total Assets) 18.7% 21.8% 29.9% 18% 15.2% 12.3% 14.5% 16.5%
Assets 1 1,116 1,321 1,755 2,091 1,647 2,090 2,289 2,441
Book Value Per Share 2 1.590 1.680 2.640 2.910 3.030 3.100 3.280 3.540
Cash Flow per Share 2 0.4400 0.5600 1.080 0.5600 0.4100 0.6700 0.7800 0.8800
Capex 1 133 171 185 138 188 353 252 227
Capex / Sales 12.45% 13.51% 9.37% 8.23% 11.88% 20.35% 12.99% 10.5%
Announcement Date 26/05/19 28/06/20 26/05/21 24/05/22 25/05/23 - - -
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
27.4 NZD
Average target price
24.13 NZD
Spread / Average Target
-11.93%
Consensus
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  4. Financials Fisher & Paykel Healthcare Corporation Limited