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PSQ

Pacific Smiles Group ASX:PSQ Stock Report

Last Price

AU$1.49

Market Cap

AU$237.8m

7D

4.2%

1Y

-45.2%

Updated

01 Oct, 2022

Data

Company Financials +
PSQ fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance0/6
Financial Health2/6
Dividends0/6

PSQ Stock Overview

Pacific Smiles Group Limited, together with its subsidiaries, owns and operates dental centers under the Pacific Smiles Dental Centres and nib Dental Care Centres names in Eastern Australia.

Pacific Smiles Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pacific Smiles Group
Historical stock prices
Current Share PriceAU$1.49
52 Week HighAU$3.08
52 Week LowAU$1.35
Beta1
1 Month Change2.76%
3 Month Change-16.53%
1 Year Change-45.22%
3 Year Change-3.87%
5 Year Change-23.20%
Change since IPO-16.29%

Recent News & Updates

Shareholder Returns

PSQAU HealthcareAU Market
7D4.2%-1.0%-1.7%
1Y-45.2%-20.4%-10.8%

Return vs Industry: PSQ underperformed the Australian Healthcare industry which returned -20.4% over the past year.

Return vs Market: PSQ underperformed the Australian Market which returned -10.8% over the past year.

Price Volatility

Is PSQ's price volatile compared to industry and market?
PSQ volatility
PSQ Average Weekly Movement5.1%
Healthcare Industry Average Movement5.4%
Market Average Movement9.4%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.2%

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

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

About the Company

FoundedEmployeesCEOWebsite
2002n/aPhil McKenziehttps://pacificsmilesgroup.com.au

Pacific Smiles Group Limited, together with its subsidiaries, owns and operates dental centers under the Pacific Smiles Dental Centres and nib Dental Care Centres names in Eastern Australia. It provides services and equipped facilities to dentists, including support staff, materials, marketing, and administrative services. The company also offers dental services, such as cosmetic dentistry, child dental care, dental check-ups, emergency dental, endodontics, gum disease treatment, Invisalign, orthodontics, periodontics, prosthodontics, root canal treatment, sleep dentistry, teeth cleaning, teeth whitening, tele dentistry, tooth extraction, and wisdom teeth removal, as well as offers dental crowns, dental implants, dentures, veneers, and SmileStyler clear aligners.

Pacific Smiles Group Fundamentals Summary

How do Pacific Smiles Group's earnings and revenue compare to its market cap?
PSQ fundamental statistics
Market CapAU$237.78m
Earnings (TTM)-AU$4.53m
Revenue (TTM)AU$139.47m

1.7x

P/S Ratio

-52.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PSQ income statement (TTM)
RevenueAU$139.47m
Cost of RevenueAU$79.43m
Gross ProfitAU$60.04m
Other ExpensesAU$64.57m
Earnings-AU$4.53m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.028
Gross Margin43.05%
Net Profit Margin-3.25%
Debt/Equity Ratio31.4%

How did PSQ perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is PSQ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PSQ?

Other financial metrics that can be useful for relative valuation.

PSQ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.4x
Enterprise Value/EBITDA30.1x
PEG Ration/a

Price to Sales Ratio vs Peers

How does PSQ's PS Ratio compare to its peers?

PSQ PS Ratio vs Peers
The above table shows the PS ratio for PSQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1x
MVF Monash IVF Group
1.8x8.1%AU$352.6m
EHE Estia Health
0.8x3.9%AU$507.9m
REG Regis Healthcare
0.7x5.0%AU$514.6m
PGC Paragon Care
0.9x11.4%AU$216.6m
PSQ Pacific Smiles Group
1.7x16.9%AU$237.8m

Price-To-Sales vs Peers: PSQ is expensive based on its Price-To-Sales Ratio (1.7x) compared to the peer average (1x).


Price to Earnings Ratio vs Industry

How does PSQ's PE Ratio compare vs other companies in the AU Healthcare Industry?

Price-To-Sales vs Industry: PSQ is expensive based on its Price-To-Sales Ratio (1.7x) compared to the Australian Healthcare industry average (1.2x)


Price to Sales Ratio vs Fair Ratio

What is PSQ's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PSQ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.7x
Fair PS Ratio2.8x

Price-To-Sales vs Fair Ratio: PSQ is good value based on its Price-To-Sales Ratio (1.7x) compared to the estimated Fair Price-To-Sales Ratio (2.8x).


Share Price vs Fair Value

What is the Fair Price of PSQ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PSQ (A$1.49) is trading below our estimate of fair value (A$2.58)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Pacific Smiles Group forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


69.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PSQ is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.8%).

Earnings vs Market: PSQ is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: PSQ is expected to become profitable in the next 3 years.

Revenue vs Market: PSQ's revenue (16.9% per year) is forecast to grow faster than the Australian market (3.7% per year).

High Growth Revenue: PSQ's revenue (16.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PSQ's Return on Equity is forecast to be high in 3 years time (21.6%)


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Past Performance

How has Pacific Smiles Group performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-14.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PSQ is currently unprofitable.

Growing Profit Margin: PSQ is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PSQ is unprofitable, and losses have increased over the past 5 years at a rate of 14.2% per year.

Accelerating Growth: Unable to compare PSQ's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PSQ is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (-7.9%).


Return on Equity

High ROE: PSQ has a negative Return on Equity (-7.69%), as it is currently unprofitable.


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Financial Health

How is Pacific Smiles Group's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PSQ's short term assets (A$24.4M) do not cover its short term liabilities (A$34.9M).

Long Term Liabilities: PSQ's short term assets (A$24.4M) do not cover its long term liabilities (A$96.7M).


Debt to Equity History and Analysis

Debt Level: PSQ's net debt to equity ratio (11.4%) is considered satisfactory.

Reducing Debt: PSQ's debt to equity ratio has increased from 11.4% to 31.4% over the past 5 years.

Debt Coverage: PSQ's debt is well covered by operating cash flow (96.7%).

Interest Coverage: Insufficient data to determine if PSQ's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Pacific Smiles Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.13%

Forecast Dividend Yield

Dividend Yield vs Market

Pacific Smiles Group Dividend Yield vs Market
How does Pacific Smiles Group dividend yield compare to the market?
SegmentDividend Yield
Company (Pacific Smiles Group)0%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Healthcare)2.9%
Analyst forecast in 3 Years (Pacific Smiles Group)3.1%

Notable Dividend: Unable to evaluate PSQ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PSQ's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PSQ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PSQ's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: PSQ is not paying a notable dividend for the Australian market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PSQ has not reported any payouts.


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Management

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

0.6yrs

Average management tenure


CEO

Phil McKenzie

3.92yrs

Tenure

AU$1,067,824

Compensation

Mr. Philip McKenzie, also known as Phil, has been Managing Director, Chief Executive Officer and Executive Director at Pacific Smiles Group Limited since October 29, 2018. He is Chief Executive Officer of...


CEO Compensation Analysis

Phil McKenzie's Compensation vs Pacific Smiles Group Earnings
How has Phil McKenzie's remuneration changed compared to Pacific Smiles Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$1mAU$590k

-AU$5m

Mar 31 2022n/an/a

-AU$2m

Dec 31 2021n/an/a

AU$978k

Sep 30 2021n/an/a

AU$7m

Jun 30 2021AU$1mAU$625k

AU$13m

Mar 31 2021n/an/a

AU$13m

Dec 31 2020n/an/a

AU$12m

Sep 30 2020n/an/a

AU$9m

Jun 30 2020AU$741kAU$506k

AU$6m

Mar 31 2020n/an/a

AU$7m

Dec 31 2019n/an/a

AU$8m

Sep 30 2019n/an/a

AU$9m

Jun 30 2019AU$551kAU$332k

AU$9m

Compensation vs Market: Phil's total compensation ($USD687.94K) is about average for companies of similar size in the Australian market ($USD618.04K).

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


Leadership Team

Experienced Management: PSQ's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: PSQ's board of directors are considered experienced (3.9 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

ASX:PSQ Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
06 Jun 22BuyAU$4,172,304Moelis Australia Asset Management LtdCompany2,055,209AU$2.03
16 May 22BuyAU$3,768,988Ice Investors Pty LtdCompany1,815,082AU$2.40
13 Dec 21BuyAU$41,919,988HBF Health Limited, Asset Mnagement ArmCompany16,000,000AU$2.62
15 Nov 21SellAU$1,160,149Moelis Australia Asset Management LtdCompany400,000AU$2.90

Ownership Breakdown

What is the ownership structure of PSQ?
Owner TypeNumber of SharesOwnership Percentage
Private Companies5,544,7963.5%
General Public38,207,86223.9%
Individual Insiders47,850,15830.0%
Institutions67,979,12242.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 75.91% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.07%
Alexander Abrahams
19,256,660A$28.7m-7.56%no data
10.03%
HBF Health Limited, Asset Mnagement Arm
16,000,000A$23.8m0%no data
9.9%
Alison Hughes
15,797,850A$23.5m-2.47%no data
7.18%
QVG Capital Pty Ltd
11,451,850A$17.1m-3.21%18.7%
6.43%
Moelis Australia Asset Management Ltd
10,264,985A$15.3m16.99%6.13%
6.11%
Celeste Funds Management Limited
9,748,728A$14.5m-3.55%14.74%
5.42%
Ice Investors Pty Ltd
8,644,576A$12.9m0%23.07%
3.51%
TDM Growth Partners
5,603,453A$8.3m0%11.49%
2.69%
Norges Bank Investment Management
4,292,544A$6.4m0%no data
2.16%
Just Paddling Pty Ltd
3,454,646A$5.1m0%no data
1.38%
John Gibbs
2,200,000A$3.3m-12.52%no data
1.32%
Robert Cameron
2,108,480A$3.1m-19.17%no data
1.31%
Channings Holdings Pty Ltd
2,090,150A$3.1m-32.36%no data
1.27%
Karen Wright
2,022,000A$3.0m0%no data
1.09%
Simon Rutherford
1,744,863A$2.6m0%no data
0.86%
Genna Levitch
1,377,854A$2.1m-3.97%no data
0.51%
Bendigo and Adelaide Bank Limited, Asset Management Arm
810,437A$1.2m0%0.54%
0.49%
Dianne Wheeldon
789,132A$1.2m-62.11%no data
0.48%
David Roessler
766,200A$1.1m0%no data
0.42%
Zurich Investment Management Limited
673,085A$1.0m0%0.14%
0.35%
Trevor Collins
564,240A$840.7k0%no data
0.35%
Dianne Collins
564,240A$840.7k0%no data
0.27%
Dimensional Fund Advisors LP
435,469A$648.8k0.27%no data
0.17%
Mark Bloom
277,952A$414.1k0%no data
0.13%
Paul Robertson
200,000A$298.0k-33.33%no data

Company Information

Pacific Smiles Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Pacific Smiles Group Limited
  • Ticker: PSQ
  • Exchange: ASX
  • Founded: 2002
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Implied Market Cap: AU$237.777m
  • Shares outstanding: 159.58m
  • Website: https://pacificsmilesgroup.com.au

Number of Employees


Location

  • Pacific Smiles Group Limited
  • 6 Molly Morgan Drive
  • Level 1
  • East Maitland
  • New South Wales
  • 2323
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PSQASX (Australian Securities Exchange)YesOrdinary SharesAUAUDNov 2014
PSQCHIA (Chi-X Australia)YesOrdinary SharesAUAUDNov 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.