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AHX

Apiam Animal HealthASX:AHX Stock Report

Market Cap

AU$127.4m

7D

-1.6%

1Y

28.8%

Updated

24 Oct, 2021

Data

Company Financials +
AHX fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance4/6
Financial Health3/6
Dividends3/6

AHX Overview

Apiam Animal Health Limited, a vertically integrated animal health company, provides veterinary products and services to production and companion animals in Australia.

Price History & Performance

Summary of all time highs, changes and price drops for Apiam Animal Health
Historical stock prices
Current Share PriceAU$0.94
52 Week HighAU$0.57
52 Week LowAU$1.00
Beta0.49
1 Month Change-3.59%
3 Month Change-2.08%
1 Year Change28.77%
3 Year Change69.37%
5 Year Change-32.86%
Change since IPO-25.40%

Recent News & Updates

Sep 15
Apiam Animal Health (ASX:AHX) Has Announced A Dividend Of AU$0.012

Apiam Animal Health (ASX:AHX) Has Announced A Dividend Of AU$0.012

The board of Apiam Animal Health Limited ( ASX:AHX ) has announced that it will pay a dividend of AU$0.012 per share on...

Sep 01
Apiam Animal Health (ASX:AHX) Has Re-Affirmed Its Dividend Of AU$0.012

Apiam Animal Health (ASX:AHX) Has Re-Affirmed Its Dividend Of AU$0.012

Apiam Animal Health Limited ( ASX:AHX ) will pay a dividend of AU$0.012 on the 22nd of October. This means the dividend...

Shareholder Returns

AHXAU HealthcareAU Market
7D-1.6%2.1%0.6%
1Y28.8%14.2%21.3%

Return vs Industry: AHX exceeded the Australian Healthcare industry which returned 14.2% over the past year.

Return vs Market: AHX exceeded the Australian Market which returned 21.3% over the past year.

Price Volatility

Is AHX's price volatile compared to industry and market?
AHX volatility
AHX Beta0.49
Industry Beta0.61
Market Beta1

Stable Share Price: AHX is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: AHX's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1998n/aChris Richardshttps://www.apiam.com.au

Apiam Animal Health Limited, a vertically integrated animal health company, provides veterinary products and services to production and companion animals in Australia. The company operates through three segments: Dairy and Mixed, Feedlots, and Pigs. It engages in the provision of veterinary wholesale, diagnostics laboratories, custom vaccines, logistics, and other ancillary services.

Apiam Animal Health Fundamentals Summary

How do Apiam Animal Health's earnings and revenue compare to its market cap?
AHX fundamental statistics
Market CapAU$127.45m
Earnings (TTM)AU$5.08m
Revenue (TTM)AU$126.18m

25.1x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AHX income statement (TTM)
RevenueAU$126.18m
Cost of RevenueAU$100.87m
Gross ProfitAU$25.32m
ExpensesAU$20.23m
EarningsAU$5.08m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.037
Gross Margin20.06%
Net Profit Margin4.03%
Debt/Equity Ratio46.6%

How did AHX perform over the long term?

See historical performance and comparison

Dividends

2.6%

Current Dividend Yield

57%

Payout Ratio

Valuation

Is Apiam Animal Health undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AHX (A$0.94) is trading below our estimate of fair value (A$7.07)

Significantly Below Fair Value: AHX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AHX's PE Ratio (25.1x) is in line with the Australian Healthcare industry average.

PE vs Market: AHX is poor value based on its PE Ratio (25.1x) compared to the Australian market (19.9x).


Price to Earnings Growth Ratio

PEG Ratio: AHX is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: AHX is good value based on its PB Ratio (1.6x) compared to the AU Healthcare industry average (2.1x).


Future Growth

How is Apiam Animal Health forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

25.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AHX's forecast earnings growth (25.1% per year) is above the savings rate (1.9%).

Earnings vs Market: AHX's earnings (25.1% per year) are forecast to grow faster than the Australian market (11.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AHX's revenue (8.3% per year) is forecast to grow faster than the Australian market (5.5% per year).

High Growth Revenue: AHX's revenue (8.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AHX's Return on Equity is forecast to be low in 3 years time (12.3%).


Past Performance

How has Apiam Animal Health performed over the past 5 years?

8.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AHX has high quality earnings.

Growing Profit Margin: AHX's current net profit margins (4%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: AHX's earnings have grown by 8.1% per year over the past 5 years.

Accelerating Growth: AHX's earnings growth over the past year (24.1%) exceeds its 5-year average (8.1% per year).

Earnings vs Industry: AHX earnings growth over the past year (24.1%) underperformed the Healthcare industry 61.3%.


Return on Equity

High ROE: AHX's Return on Equity (6.2%) is considered low.


Financial Health

How is Apiam Animal Health's financial position?


Financial Position Analysis

Short Term Liabilities: AHX's short term assets (A$33.3M) exceed its short term liabilities (A$24.4M).

Long Term Liabilities: AHX's short term assets (A$33.3M) do not cover its long term liabilities (A$51.4M).


Debt to Equity History and Analysis

Debt Level: AHX's debt to equity ratio (46.6%) is considered high.

Reducing Debt: AHX's debt to equity ratio has increased from 33.6% to 46.6% over the past 5 years.

Debt Coverage: AHX's debt is well covered by operating cash flow (36.3%).

Interest Coverage: AHX's interest payments on its debt are well covered by EBIT (7x coverage).


Balance Sheet


Dividend

What is Apiam Animal Health current dividend yield, its reliability and sustainability?

2.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AHX's dividend (2.55%) is higher than the bottom 25% of dividend payers in the Australian market (2.23%).

High Dividend: AHX's dividend (2.55%) is low compared to the top 25% of dividend payers in the Australian market (5.3%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, AHX has been paying a dividend for less than 10 years.

Growing Dividend: AHX's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.9%), AHX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AHX's dividends in 3 years are forecast to be well covered by earnings (40% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Chris Richards

5.92yrs

Tenure

AU$455,243

Compensation

Dr. Christopher Irwin Richards, also known as Chris, BSc, BVSc, MAICD, has been Managing Director of Apiam Animal Health Limited since November 1, 2015. Dr. Richards founded Chris Richards & Associates in...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD340.14K) is about average for companies of similar size in the Australian market ($USD302.87K).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AHX's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: AHX's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AHX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.3%.


Top Shareholders

Company Information

Apiam Animal Health Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Apiam Animal Health Limited
  • Ticker: AHX
  • Exchange: ASX
  • Founded: 1998
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: AU$127.449m
  • Shares outstanding: 135.58m
  • Website: https://www.apiam.com.au

Number of Employees


Location

  • Apiam Animal Health Limited
  • 27-33 Piper Lane
  • East Bendigo
  • Bendigo
  • Victoria
  • 3550
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/24 07:01
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.