ASX:AHX

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Apiam Animal Health

Executive Summary

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


Snowflake Analysis

Solid track record and good value.

Share Price & News

How has Apiam Animal Health's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AHX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

11.6%

AHX

1.1%

AU Healthcare

0.6%

AU Market


1 Year Return

26.2%

AHX

4.0%

AU Healthcare

-12.3%

AU Market

Return vs Industry: AHX exceeded the Australian Healthcare industry which returned 4% over the past year.

Return vs Market: AHX exceeded the Australian Market which returned -12.3% over the past year.


Shareholder returns

AHXIndustryMarket
7 Day11.6%1.1%0.6%
30 Day23.8%-3.4%-3.6%
90 Day39.8%5.6%1.0%
1 Year31.3%26.2%6.1%4.0%-9.0%-12.3%
3 Year-12.1%-20.2%23.5%13.5%17.1%2.0%
5 Yearn/a25.1%8.0%44.8%14.3%

Price Volatility Vs. Market

How volatile is Apiam Animal Health's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

17.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AHX (A$0.65) is trading above our estimate of fair value (A$0.42)

Significantly Below Fair Value: AHX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AHX is good value based on its PE Ratio (17.6x) compared to the AU Healthcare industry average (28.7x).

PE vs Market: AHX is good value based on its PE Ratio (17.6x) compared to the Australian market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: AHX is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: AHX is good value based on its PB Ratio (1.1x) compared to the AU Healthcare industry average (1.4x).


Next Steps

Future Growth

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

32.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AHX's forecast earnings growth (32.2% per year) is above the savings rate (2.3%).

Earnings vs Market: AHX's earnings (32.2% per year) are forecast to grow faster than the Australian market (19.2% per year).

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

Revenue vs Market: AHX's revenue (5% per year) is forecast to grow faster than the Australian market (4.4% per year).

High Growth Revenue: AHX's revenue (5% 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 (13.2%).


Next Steps

Past Performance

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

12.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AHX has high quality earnings.

Growing Profit Margin: AHX's current net profit margins (3.5%) are higher than last year (2.8%).


Past Earnings Growth Analysis

Earnings Trend: AHX has become profitable over the past 5 years, growing earnings by 12.6% per year.

Accelerating Growth: AHX's earnings growth over the past year (31.8%) exceeds its 5-year average (12.6% per year).

Earnings vs Industry: AHX earnings growth over the past year (31.8%) exceeded the Healthcare industry -6.1%.


Return on Equity

High ROE: AHX's Return on Equity (6.3%) is considered low.


Next Steps

Financial Health

How is Apiam Animal Health's financial position?


Financial Position Analysis

Short Term Liabilities: AHX's short term assets (A$33.4M) exceed its short term liabilities (A$26.2M).

Long Term Liabilities: AHX's short term assets (A$33.4M) do not cover its long term liabilities (A$46.3M).


Debt to Equity History and Analysis

Debt Level: AHX's debt to equity ratio (54%) is considered high.

Reducing Debt: AHX's debt to equity ratio has increased from 42.5% to 54% over the past 5 years.

Debt Coverage: AHX's debt is well covered by operating cash flow (20.3%).

Interest Coverage: AHX's interest payments on its debt are well covered by EBIT (5.7x coverage).


Balance Sheet


Next Steps

Dividend

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

3.69%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AHX's dividend (3.69%) is higher than the bottom 25% of dividend payers in the Australian market (2.38%).

High Dividend: AHX's dividend (3.69%) is low compared to the top 25% of dividend payers in the Australian market (5.69%).


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 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.1%), 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 (26.6% payout ratio).


Next Steps

Management

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

0.7yrs

Average management tenure


CEO

Chris Richards

4.83yrs

Tenure

AU$401,389

Compensation

Dr. Christopher Irwin Richards, also known as Chris, BSc, BVSc, MAICD, serves as Managing Director of Apiam Animal Health Limited. Dr. Richards founded Chris Richards & Associates in 1998 as a pig specific ...


CEO Compensation Analysis

Compensation vs Market: Chris's total compensation ($USD292.96K) is about average for companies of similar size in the Australian market ($USD279.45K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Christopher Richards
MD & Executive Director4.83yrsAU$401.39k25.73%
A$ 19.5m
Matthew White
Chief Financial Officerno dataAU$255.84k0.10%
A$ 78.5k
Brian Scutt
Chief Operating Officer0.67yrAU$68.21kno data
Matt Gallagher
General Counsel0.67yrno datano data
Kate Hitchins
General Manager of People and Cultureno datano datano data
Todd Richards
Company Secretary0.50yrno datano data

0.7yrs

Average Tenure

Experienced Management: AHX's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Christopher Richards
MD & Executive Director4.83yrsAU$401.39k25.73%
A$ 19.5m
Andrew Vizard
Independent Non-Executive Chairmanno dataAU$120.00k0.19%
A$ 144.1k
Richard Dennis
Independent Non-Executive Director4.83yrsAU$70.00k0.019%
A$ 14.1k
Michael van Blommestein
Independent Non-Executive Director4.83yrsAU$60.00k0.090%
A$ 68.1k
Jan Tennent
Independent Non-Executive Director2.08yrsAU$60.00k0.031%
A$ 23.5k

4.8yrs

Average Tenure

Experienced Board: AHX's board of directors are considered experienced (4.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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 9.8%.


Top Shareholders

Company Information

Apiam Animal Health Limited's company bio, 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$75.788m
  • Shares outstanding: 116.60m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AHXASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2015
AHXCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2015

Biography

Apiam Animal Health Limited, a vertically integrated animal health company, provides veterinary products and services to production and companion animals in Australia. It operates through three segments: D ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/19 19:08
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


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.