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Healius

ASX:HLS
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HLS
ASX
A$2B
Market Cap
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Last updated 2019/03/21 10:31
Company description

Healius Limited provides various services and facilities to general practitioners, dentists, physiotherapists, specialists, and other healthcare professionals in Australia. The last earnings update was 35 days ago. More info.

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HLS Share Price and Events
7 Day Returns
4.5%
ASX:HLS
1.8%
AU Healthcare
0.1%
AU Market
1 Year Returns
-27.8%
ASX:HLS
-0.9%
AU Healthcare
1.6%
AU Market
HLS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Healius (HLS) 4.5% -4.5% 23% -27.8% -26.8% -40.3%
AU Healthcare 1.8% 3.1% 14.9% -0.9% -0.5% 21.9%
AU Market 0.1% 0.7% 11.2% 1.6% 18.7% 5.1%
1 Year Return vs Industry and Market
  • HLS underperformed the Healthcare industry which returned -0.9% over the past year.
  • HLS underperformed the Market in Australia which returned 1.6% over the past year.
Price Volatility
HLS
Industry
5yr Volatility vs Market

Value

 Is Healius undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Healius to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Healius.

ASX:HLS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:HLS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 30%) (43.61%)) 		0.971
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.971 * 5.96%) 		8.1%

Discounted Cash Flow Calculation for ASX:HLS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Healius is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:HLS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.1%)
2019 69.00 Analyst x2 63.83
2020 117.50 Analyst x2 100.55
2021 127.00 Analyst x2 100.54
2022 116.82 Analyst x1 85.55
2023 110.79 Est @ -5.16% 75.06
2024 107.56 Est @ -2.92% 67.41
2025 106.11 Est @ -1.35% 61.52
2026 105.85 Est @ -0.25% 56.77
2027 106.40 Est @ 0.52% 52.79
2028 107.52 Est @ 1.06% 49.35
Present value of next 10 years cash flows A$713.40
ASX:HLS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$107.52 × (1 + 2.31%) ÷ (8.1% – 2.31%) 		A$1,901.23
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,901.23 ÷ (1 + 8.1%)10 		A$872.67
ASX:HLS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$713.40 + A$872.67 		A$1,586.07
Equity Value per Share
(AUD)		 = Total value / Shares Outstanding
= A$1,586.07 / 622.32 		A$2.55
ASX:HLS Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$2.55
Current discount Discount to share price of A$2.78
= -1 x (A$2.78 - A$2.55) / A$2.55 		-9.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Healius is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Healius's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Healius's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:HLS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.00
ASX:HLS Share Price ** ASX (2019-03-21) in AUD A$2.78
Australia Healthcare Industry PE Ratio Median Figure of 23 Publicly-Listed Healthcare Companies 18.53x
Australia Market PE Ratio Median Figure of 543 Publicly-Listed Companies 16.2x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Healius.

ASX:HLS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:HLS Share Price ÷ EPS (both in AUD)

= 2.78 ÷ 0.00

 570.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Healius is overvalued based on earnings compared to the AU Healthcare industry average.
  • Healius is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Healius's expected growth come at a high price?
Raw Data
ASX:HLS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 570.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts		 29.3%per year
Australia Healthcare Industry PEG Ratio Median Figure of 17 Publicly-Listed Healthcare Companies 1.79x
Australia Market PEG Ratio Median Figure of 362 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

ASX:HLS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 570.72x ÷ 29.3%

 19.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Healius is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Healius's assets?
Raw Data
ASX:HLS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$3.30
ASX:HLS Share Price * ASX (2019-03-21) in AUD A$2.78
Australia Healthcare Industry PB Ratio Median Figure of 28 Publicly-Listed Healthcare Companies 1.49x
Australia Market PB Ratio Median Figure of 1,668 Publicly-Listed Companies 1.67x
ASX:HLS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:HLS Share Price ÷ Book Value per Share (both in AUD)

= 2.78 ÷ 3.30

 0.84x

* Primary Listing of Healius.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Healius is good value based on assets compared to the AU Healthcare industry average.
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Value checks
We assess Healius's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
    5. Healius has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Healius expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
29.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Healius expected to grow at an attractive rate?
  • Healius's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Healius's earnings growth is expected to exceed the Australia market average.
  • Healius's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:HLS Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:HLS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 29.3%
ASX:HLS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 5.5%
Australia Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
Australia Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.4%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:HLS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:HLS Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 2,315 178 1
2022-06-30 2,147 271 146 2
2021-06-30 2,021 227 107 9
2020-06-30 1,927 206 88 11
2019-06-30 1,817 146 64 11
ASX:HLS Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,779 153 3
2018-09-30 1,760 177 3
2018-06-30 1,740 202 4
2018-03-31 1,700 215 -256
2017-12-31 1,683 227 -516
2017-09-30 1,671 220 -516
2017-06-30 1,659 212 -517
2017-03-31 1,648 219 -260
2016-12-31 1,637 227 -3
2016-09-30 1,639 256 18
2016-06-30 1,642 285 38

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Healius's earnings are expected to grow significantly at over 20% yearly.
  • Healius's revenue is expected to grow by 5.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:HLS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Healius Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:HLS Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 0.29 0.29 0.29 1.00
2022-06-30 0.23 0.27 0.20 2.00
2021-06-30 0.18 0.23 0.16 5.00
2020-06-30 0.15 0.18 0.13 6.00
2019-06-30 0.11 0.17 0.07 6.00
ASX:HLS Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.00
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 -0.49
2017-12-31 -0.99
2017-09-30 -0.99
2017-06-30 -0.99
2017-03-31 -0.50
2016-12-31 0.00
2016-09-30 0.03
2016-06-30 0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Healius is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Show me more growth companies in the Healthcare industry
X
Future performance checks
We assess Healius's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Healius has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Healius performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Healius's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Healius's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Healius has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Healius has become profitable in the last year making it difficult to compare the AU Healthcare industry average.
Earnings and Revenue History
Healius's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Healius Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:HLS Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,779.20 2.70 243.90
2018-09-30 1,759.75 3.40 243.90
2018-06-30 1,740.30 4.10 243.90
2018-03-31 1,699.55 -255.85 240.70
2017-12-31 1,682.60 -515.80 237.50
2017-09-30 1,670.60 -516.30 237.50
2017-06-30 1,658.60 -516.80 237.50
2017-03-31 1,647.55 -259.70 223.05
2016-12-31 1,636.50 -2.60 208.60
2016-09-30 1,639.20 17.90 208.60
2016-06-30 1,641.90 38.40 208.60
2015-12-31 1,595.22 125.64 183.20
2015-09-30 1,587.46 121.27 183.20
2015-06-30 1,579.70 116.90 183.20
2015-03-31 1,595.53 127.08 185.10
2014-12-31 1,571.87 117.66 178.40
2014-09-30 1,547.99 116.11 178.40
2014-06-30 1,524.12 114.55 178.40
2014-03-31 1,501.15 134.05 143.67
2013-12-31 1,478.32 130.83 139.74
2013-09-30 1,459.18 140.47 139.74
2013-06-30 1,440.04 150.11 139.74
2013-03-31 1,429.23 144.97 136.25
2012-12-31 1,418.42 139.84 132.76
2012-09-30 1,405.24 128.23 132.76
2012-06-30 1,392.07 116.62 132.76
2012-03-31 1,372.33 110.47 129.72

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Healius has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Healius used its assets less efficiently than the AU Healthcare industry average last year based on Return on Assets.
  • Healius's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Healius's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Healius has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Healius's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Healius's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Healius's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Healius's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Healius's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Healius Company Filings, last reported 2 months ago.

ASX:HLS Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,052.60 765.40 105.10
2018-09-30 2,052.60 765.40 105.10
2018-06-30 1,818.90 863.90 84.00
2018-03-31 1,818.90 863.90 84.00
2017-12-31 1,863.50 880.20 108.00
2017-09-30 1,863.50 880.20 108.00
2017-06-30 1,869.10 880.50 95.50
2017-03-31 1,869.10 880.50 95.50
2016-12-31 2,419.50 924.00 96.80
2016-09-30 2,419.50 924.00 96.80
2016-06-30 2,427.70 909.70 82.30
2015-12-31 2,480.11 1,177.21 66.67
2015-09-30 2,480.11 1,177.21 66.67
2015-06-30 2,415.40 1,224.50 53.20
2015-03-31 2,447.38 1,224.63 53.16
2014-12-31 2,478.92 1,187.10 36.45
2014-09-30 2,478.92 1,187.10 36.45
2014-06-30 2,371.11 1,111.65 27.46
2014-03-31 2,747.56 1,111.65 27.46
2013-12-31 2,701.96 1,106.68 9.55
2013-09-30 2,701.96 1,106.68 9.55
2013-06-30 2,678.87 1,092.01 34.73
2013-03-31 2,678.87 1,092.01 34.73
2012-12-31 2,618.30 1,075.64 18.06
2012-09-30 2,618.30 1,075.64 18.06
2012-06-30 2,573.11 1,096.89 10.43
2012-03-31 2,573.11 1,096.89 10.43
  • Healius's level of debt (37.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (41% vs 37.3% today).
  • Debt is not well covered by operating cash flow (19.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.1x coverage).
X
Financial health checks
We assess Healius's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Healius has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Healius's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.35%
Current annual income from Healius dividends. Estimated to be 3.78% next year.
If you bought A$2,000 of Healius shares you are expected to receive A$67 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Healius's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.63%).
  • Healius's dividend is below the markets top 25% of dividend payers in Australia (5.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:HLS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Australia Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 3.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 418 Stocks 4.4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.7%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:HLS Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.17 1.00
2022-06-30 0.15 2.00
2021-06-30 0.11 10.00
2020-06-30 0.10 12.00
2019-06-30 0.09 12.00
ASX:HLS Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.093 3.360
2018-08-22 0.106 3.918
2018-02-15 0.109 2.956
2017-08-17 0.106 3.069
2017-02-14 0.112 3.161
2016-09-15 0.120 3.111
2016-08-16 0.120 3.032
2015-09-29 0.200 6.051
2015-08-11 0.200 4.847
2014-08-12 0.200 4.205
2013-09-16 0.220 4.616
2013-08-13 0.220 4.287
2013-02-06 0.130 2.616
2012-09-25 0.120 3.034
2012-08-14 0.120 3.325
2012-02-15 0.100 3.450
2011-08-22 0.080 2.578
2011-02-15 0.130 3.993
2010-08-17 0.250 7.256
2010-02-15 0.300 7.575
2009-08-11 0.140 2.348
2009-03-23 0.120 2.422

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Healius's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Healius's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Healius afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Healius has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Healius's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Malcolm Parmenter
COMPENSATION A$2,510,962
AGE 63
TENURE AS CEO 1.5 years
CEO Bio

Dr. Malcolm W. Parmenter, MB, BS, MAICD, has been the Managing Director and Chief Executive Officer at Primary Health Care Limited since September 06, 2017. Dr. Parmenter served as the Chief Executive Officer of Independent Practitioner Network Pty Limited (alternate name: Independent Practitioner Network Ltd.) since January 9, 2006 and served as its Managing Director since December 02, 2005. He served as Executive Director of Independent Practitioner Network Pty Limited since January 9, 2006 and subsequently two years as CEO of Sonic Clinical Services. He has more than nine years at the helm of Independent Practitioner Network Limited. Dr. Parmenter has a wealth of knowledge and practical experience in the operations of medical centers in Australia. He consulted from the Mosman 393 practice in NSW, one of IPN's largest privately billing multidisciplinary practices. He originally purchased the Mosman 393 practice in 1994. He has a strong understanding of healthcare, both in Australian and abroad, and spent more than 20 years’ experience in General Practice. His experience in healthcare policy regulation is extensive, and he was most recently a member of the Federal Government’s Primary Healthcare Advisory Group into chronic and complex illnesses.

CEO Compensation
  • Insufficient data for Malcolm to compare compensation growth.
  • Malcolm's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Healius management team in years:

2.5
Average Tenure
  • The tenure for the Healius management team is about average.
Management Team

Malcolm Parmenter

TITLE
MD, CEO & Director
COMPENSATION
A$3M
AGE
63
TENURE
1.5 yrs

Malcolm Ashcroft

TITLE
Chief Financial Officer
COMPENSATION
A$2M
AGE
44
TENURE
3.7 yrs

Maxine Jaquet

TITLE
Chief Executive of Health & Co
COMPENSATION
A$1M
TENURE
3 yrs

Dean Lewsam

TITLE
Chief Executive of Imaging
COMPENSATION
A$1M
TENURE
3.4 yrs

Wes Lawrence

TITLE
Chief Executive of Pathology
COMPENSATION
A$1M
TENURE
2.3 yrs

Tim Haggett

TITLE
Chief Executive of Medical Centres
COMPENSATION
A$1M
TENURE
1.4 yrs

John Houston

TITLE
COMPENSATION
A$1M
TENURE
1.4 yrs

Ryan Fahy

TITLE
Chief Information Officer
TENURE
1.9 yrs

Yvette Cachia

TITLE
Group Executive of People & Legal
TENURE
2.7 yrs

Charles Tilley

TITLE
Company Secretary
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Healius board of directors in years:

3.6
Average Tenure
61
Average Age
  • The tenure for the Healius board of directors is about average.
Board of Directors

Rob Hubbard

TITLE
Chairman
COMPENSATION
A$173K
AGE
59
TENURE
0.7 yrs

Malcolm Parmenter

TITLE
MD, CEO & Director
COMPENSATION
A$3M
AGE
63
TENURE
1.5 yrs

Errol Katz

TITLE
Non-Executive Director
COMPENSATION
A$168K
AGE
48
TENURE
8.3 yrs

Arlene Tansey

TITLE
Non-Executive Director
COMPENSATION
A$158K
AGE
61
TENURE
6.6 yrs

Gordon Davis

TITLE
Non-Executive Director
COMPENSATION
A$143K
AGE
62
TENURE
3.6 yrs

Paul Jones

TITLE
Non-Executive Director
COMPENSATION
A$158K
AGE
63
TENURE
8.3 yrs

Sally Evans

TITLE
Independent Non-Executive Director
AGE
60
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
24. Feb 19 Sell T. Rowe Price Group, Inc. Company 18. Oct 18 20. Feb 19 -6,826,573 A$2.92 A$-19,899,463
24. Feb 19 Buy T. Rowe Price Group, Inc. Company 29. Nov 18 13. Feb 19 588,414 A$2.97 A$1,749,358
23. Dec 18 Sell Harris Associates L.P. Company 11. Oct 18 20. Dec 18 -7,640,319 A$8.11 A$-60,066,278
23. Dec 18 Buy Harris Associates L.P. Company 24. Aug 18 26. Nov 18 7,982,090 A$3.90 A$24,067,774
31. Jan 19 Sell Maple-Brown Abbott Limited Company 08. Jan 19 29. Jan 19 -4,590,500 A$2.90 A$-13,280,774
31. Jan 19 Buy Maple-Brown Abbott Limited Company 04. Dec 18 14. Dec 18 160,740 A$2.64 A$404,780
21. Dec 18 Buy Errol Katz Individual 21. Dec 18 21. Dec 18 13,080 A$2.25 A$29,430
28. Nov 18 Buy Arlene Tansey Individual 27. Nov 18 27. Nov 18 4,000 A$2.52 A$10,080
22. Nov 18 Sell Maple-Brown Abbott Limited Company 25. Jul 18 02. Aug 18 -371,000 A$3.43 A$-1,272,215
01. Nov 18 Buy MLC Investments Limited Company 29. Oct 18 29. Oct 18 148,178 A$2.44 A$361,020
01. Nov 18 Buy Antares Capital Partners Pty. Ltd. Company 29. Oct 18 29. Oct 18 433 A$2.42 A$1,046
30. Oct 18 Buy MLC Investments Limited Company 27. Jun 18 24. Oct 18 8,816,530 A$2.82 A$24,835,381
30. Oct 18 Buy Antares Capital Partners Pty. Ltd. Company 26. Jun 18 25. Oct 18 6,132,116 A$2.87 A$17,595,971
30. Oct 18 Buy MLC Investment Management Limited Company 29. Jun 18 10. Oct 18 118,802 A$2.91 A$325,997
21. Oct 18 Sell T. Rowe Price Group, Inc. Company 04. Oct 18 17. Oct 18 -7,353,105 A$3.10 A$-22,816,682
04. Oct 18 Sell T. Rowe Price Group, Inc. Company 04. Sep 18 02. Oct 18 -3,171,043 A$2.95 A$-9,367,260
04. Oct 18 Buy T. Rowe Price Group, Inc. Company 29. Aug 18 01. Oct 18 108,517 A$2.94 A$319,350
18. Sep 18 Buy Arlene Tansey Individual 14. Sep 18 14. Sep 18 1,920 A$2.50 A$4,800
18. Sep 18 Buy Malcolm Parmenter Individual 14. Sep 18 14. Sep 18 9,597 A$2.50 A$23,992
18. Sep 18 Buy Robert Hubbard Individual 14. Sep 18 14. Sep 18 5,951 A$2.50 A$14,877
18. Sep 18 Buy Gordon Davis Individual 14. Sep 18 14. Sep 18 5,759 A$2.50 A$14,397
18. Sep 18 Buy Paul Jones Individual 14. Sep 18 14. Sep 18 6,536 A$2.50 A$16,340
18. Sep 18 Buy Errol Katz Individual 14. Sep 18 14. Sep 18 1,920 A$2.50 A$4,800
17. Sep 18 Buy Jangho Group Co., Ltd. Company 14. Sep 18 14. Sep 18 15,957,596 A$2.50 A$39,893,987
30. Aug 18 Sell T. Rowe Price Group, Inc. Company 27. Apr 18 06. Jul 18 -31,276 A$3.77 A$-117,909
04. Sep 18 Buy Robert Hubbard Individual 31. Aug 18 31. Aug 18 15,000 A$2.79 A$41,850
04. Sep 18 Buy Gordon Davis Individual 31. Aug 18 31. Aug 18 20,000 A$2.72 A$54,334
30. Aug 18 Sell Vinva Investment Management Company 20. Apr 18 28. Aug 18 -8,337,714 A$2.76 A$-23,036,326
30. Aug 18 Buy Vinva Investment Management Company 20. Apr 18 28. Aug 18 6,470,298 A$2.83 A$18,324,600
26. Aug 18 Sell Harris Associates L.P. Company 25. May 18 06. Jun 18 -1,114,756 A$3.72 A$-4,009,061
26. Aug 18 Buy Harris Associates L.P. Company 14. Jun 18 23. Aug 18 13,276,502 A$3.08 A$39,254,708
08. Jun 18 Sell Ellerston Capital Limited Company 17. Apr 18 08. Jun 18 -7,014,876 A$3.93 A$-27,145,076
24. May 18 Sell Harris Associates L.P. Company 07. Mar 18 22. May 18 -5,239,858 A$3.90 A$-20,401,686
23. Apr 18 Sell Vinva Investment Management Company 19. Dec 17 19. Apr 18 -86,926 A$3.85 A$-334,504
23. Apr 18 Buy Vinva Investment Management Company 19. Dec 17 19. Apr 18 24,889,620 A$3.82 A$95,184,762
13. Apr 18 Sell Ellerston Capital Limited Company 23. Mar 18 12. Apr 18 -5,624,398 A$3.82 A$-21,247,911
X
Management checks
We assess Healius's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Healius has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why You Should Care About Healius Limited’s (ASX:HLS) Low Return On Capital

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St - –

Company Info

Description

Healius Limited provides various services and facilities to general practitioners, dentists, physiotherapists, specialists, and other healthcare professionals in Australia. It operates through three segments: Pathology, Medical Centres, and Imaging. The company offers diagnostic imaging services, such as X-ray, ultrasound, computerized tomography, mammography, MRI, positron emission tomography, interventional radiology, and nuclear medicine services; and medical laboratory and pathology services. It also operates medical centers that provide nursing support, pathology, radiology, dental, physiotherapy, and allied health services; and IVF services, eye and skin specialists, skin cancer checks, and consultant specialist doctors. The company operates 70 medical centers. The company was formerly known as Primary Health Care Limited and changed its name to Healius Limited in December 2018. Healius Limited was incorporated in 1994 and is based in St Leonards, Australia.

Details
Name: Healius Limited
HLS
Exchange: ASX
Founded: 1994
A$1,754,949,069
622,322,365
Website: http://
Address: Healius Limited
203 Pacific Highway,
Level 6,
St Leonards,
New South Wales, 2065,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX HLS Ordinary Shares Australian Securities Exchange AU AUD 03. Jul 1998
DB PGZ Ordinary Shares Deutsche Boerse AG DE EUR 03. Jul 1998
CHIA HLS Ordinary Shares Chi-X Australia AU AUD 03. Jul 1998
Number of employees
Current staff
Staff numbers
12,000
Healius employees.
Industry
Health Care Services
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 10:31
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/03/19
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.

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