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EBO

EBOS Group NZSE:EBO Stock Report

Last Price

NZ$37.61

Market Cap

NZ$7.2b

7D

-1.2%

1Y

4.5%

Updated

01 Oct, 2022

Data

Company Financials +
EBO fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance2/6
Financial Health4/6
Dividends3/6

EBO Stock Overview

EBOS Group Limited engages in the marketing, wholesale, and distribution of healthcare, medical, pharmaceutical, consumer, and animal care products in Australia and New Zealand.

EBOS Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for EBOS Group
Historical stock prices
Current Share PriceNZ$37.61
52 Week HighNZ$44.30
52 Week LowNZ$33.87
Beta0.37
1 Month Change-3.84%
3 Month Change-0.53%
1 Year Change4.47%
3 Year Change51.17%
5 Year Change114.55%
Change since IPO1,557.30%

Recent News & Updates

Sep 13
Does EBOS Group (NZSE:EBO) Have A Healthy Balance Sheet?

Does EBOS Group (NZSE:EBO) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Aug 26
EBOS Group (NZSE:EBO) Will Pay A Larger Dividend Than Last Year At A$0.5116

EBOS Group (NZSE:EBO) Will Pay A Larger Dividend Than Last Year At A$0.5116

EBOS Group Limited's ( NZSE:EBO ) dividend will be increasing from last year's payment of the same period to A$0.5116...

Shareholder Returns

EBONZ HealthcareNZ Market
7D-1.2%-1.9%-3.4%
1Y4.5%-24.1%-19.7%

Return vs Industry: EBO exceeded the NZ Healthcare industry which returned -24.1% over the past year.

Return vs Market: EBO exceeded the NZ Market which returned -19.7% over the past year.

Price Volatility

Is EBO's price volatile compared to industry and market?
EBO volatility
EBO Average Weekly Movement2.7%
Healthcare Industry Average Movement3.8%
Market Average Movement3.9%
10% most volatile stocks in NZ Market7.8%
10% least volatile stocks in NZ Market2.9%

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

Volatility Over Time: EBO's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19225,000John Cullityhttps://www.ebosgroup.com

EBOS Group Limited engages in the marketing, wholesale, and distribution of healthcare, medical, pharmaceutical, consumer, and animal care products in Australia and New Zealand. It operates through Healthcare and Animal Care segments. The company provides healthcare logistics; medication management solutions; pharmacy management software; loyalty, generics, compliance, business intelligence, and store software services; and multi-brand retail pharmacy services.

EBOS Group Fundamentals Summary

How do EBOS Group's earnings and revenue compare to its market cap?
EBO fundamental statistics
Market CapNZ$7.17b
Earnings (TTM)NZ$230.37m
Revenue (TTM)NZ$12.21b

31.1x

P/E Ratio

0.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
EBO income statement (TTM)
RevenueAU$10.73b
Cost of RevenueAU$9.50b
Gross ProfitAU$1.23b
Other ExpensesAU$1.03b
EarningsAU$202.61m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.06
Gross Margin11.49%
Net Profit Margin1.89%
Debt/Equity Ratio64.0%

How did EBO perform over the long term?

See historical performance and comparison

Dividends

2.6%

Current Dividend Yield

77%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 EBO?

Other financial metrics that can be useful for relative valuation.

EBO 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/Revenue0.7x
Enterprise Value/EBITDA19x
PEG Ratio2.6x

Price to Earnings Ratio vs Peers

How does EBO's PE Ratio compare to its peers?

EBO PE Ratio vs Peers
The above table shows the PE ratio for EBO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.4x
RYM Ryman Healthcare
6.1x-3.7%NZ$4.3b
SUM Summerset Group Holdings
6x-54.5%NZ$2.5b
FPH Fisher & Paykel Healthcare
28.3x2.8%NZ$10.7b
ARV Arvida Group
5.2x-38.4%NZ$1.0b
EBO EBOS Group
31.1x11.9%NZ$7.2b

Price-To-Earnings vs Peers: EBO is expensive based on its Price-To-Earnings Ratio (31.1x) compared to the peer average (11.4x).


Price to Earnings Ratio vs Industry

How does EBO's PE Ratio compare vs other companies in the Global Healthcare Industry?

Price-To-Earnings vs Industry: EBO is expensive based on its Price-To-Earnings Ratio (31.1x) compared to the Global Healthcare industry average (17.1x)


Price to Earnings Ratio vs Fair Ratio

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

EBO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.1x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: EBO is expensive based on its Price-To-Earnings Ratio (31.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).


Share Price vs Fair Value

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

Below Fair Value: EBO (NZ$37.61) is trading below our estimate of fair value (NZ$60.32)

Significantly Below Fair Value: EBO 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 less than 20% higher than the current share price.


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Future Growth

How is EBOS Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EBO's forecast earnings growth (11.9% per year) is above the savings rate (2.1%).

Earnings vs Market: EBO's earnings (11.9% per year) are forecast to grow faster than the NZ market (5.8% per year).

High Growth Earnings: EBO's earnings are forecast to grow, but not significantly.

Revenue vs Market: EBO's revenue (5.7% per year) is forecast to grow faster than the NZ market (5.6% per year).

High Growth Revenue: EBO's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EBO's Return on Equity is forecast to be low in 3 years time (13.3%).


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Past Performance

How has EBOS Group performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EBO has high quality earnings.

Growing Profit Margin: EBO's current net profit margins (1.9%) are lower than last year (2%).


Past Earnings Growth Analysis

Earnings Trend: EBO's earnings have grown by 10.4% per year over the past 5 years.

Accelerating Growth: EBO's earnings growth over the past year (9.3%) is below its 5-year average (10.4% per year).

Earnings vs Industry: EBO earnings growth over the past year (9.3%) underperformed the Healthcare industry 12.7%.


Return on Equity

High ROE: EBO's Return on Equity (9.4%) is considered low.


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Financial Health

How is EBOS Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: EBO's short term assets (A$3.1B) exceed its short term liabilities (A$2.5B).

Long Term Liabilities: EBO's short term assets (A$3.1B) exceed its long term liabilities (A$1.6B).


Debt to Equity History and Analysis

Debt Level: EBO's net debt to equity ratio (39.3%) is considered satisfactory.

Reducing Debt: EBO's debt to equity ratio has increased from 52% to 64% over the past 5 years.

Debt Coverage: EBO's debt is not well covered by operating cash flow (18.1%).

Interest Coverage: EBO's interest payments on its debt are well covered by EBIT (12.1x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.59%

Current Dividend Yield

Dividend Yield vs Market

EBOS Group Dividend Yield vs Market
How does EBOS Group dividend yield compare to the market?
SegmentDividend Yield
Company (EBOS Group)2.6%
Market Bottom 25% (NZ)2.9%
Market Top 25% (NZ)6.3%
Industry Average (Healthcare)2.7%
Analyst forecast in 3 Years (EBOS Group)3.5%

Notable Dividend: EBO's dividend (2.59%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (2.91%).

High Dividend: EBO's dividend (2.59%) is low compared to the top 25% of dividend payers in the NZ market (6.3%).


Stability and Growth of Payments

Stable Dividend: EBO's dividends per share have been stable in the past 10 years.

Growing Dividend: EBO's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (76.8%), EBO's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (102.8%), EBO's dividend payments are not well covered by cash flows.


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Management

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

4.4yrs

Average management tenure


CEO

John Cullity

4.42yrs

Tenure

AU$5,851,536

Compensation

Mr. John Cullity has been Non-Executive Director of Terry White Group Limited since March 29, 2018. Mr. Cullity has been Chief Executive Officer of EBOS Group Limited since April 1, 2018. Mr. Cullity serve...


CEO Compensation Analysis

John Cullity's Compensation vs EBOS Group Earnings
How has John Cullity's remuneration changed compared to EBOS Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$6mAU$1m

AU$203m

Mar 31 2022n/an/a

AU$198m

Dec 31 2021n/an/a

AU$194m

Sep 30 2021n/an/a

AU$190m

Jun 30 2021AU$4mAU$1m

AU$185m

Mar 31 2021n/an/a

AU$180m

Dec 31 2020n/an/a

AU$174m

Sep 30 2020n/an/a

AU$168m

Jun 30 2020AU$4mAU$1m

AU$163m

Mar 31 2020n/an/a

AU$157m

Dec 31 2019n/an/a

AU$152m

Sep 30 2019n/an/a

AU$145m

Jun 30 2019AU$2mAU$1m

AU$138m

Mar 31 2019n/an/a

AU$136m

Dec 31 2018n/an/a

AU$134m

Sep 30 2018n/an/a

AU$136m

Jun 30 2018AU$1mAU$287k

AU$137m

Compensation vs Market: John's total compensation ($USD3.77M) is above average for companies of similar size in the NZ market ($USD1.78M).

Compensation vs Earnings: John's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: EBO's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: EBO's board of directors are considered experienced (9.2 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

NZSE:EBO Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
11 Jan 22SellNZ$48,279Nicholas DowlingIndividual1,198NZ$40.30
13 Dec 21BuyNZ$57,701Tracey BattenIndividual1,500NZ$38.47

Ownership Breakdown

What is the ownership structure of EBO?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders161,7410.09%
Institutions31,118,75216.4%
Private Companies37,081,77819.6%
General Public121,079,34063.9%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.1%.


Top Shareholders

Top 25 shareholders own 35.98% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
18.63%
Sybos Holdings Pte Limited
35,285,353A$1.3b0%no data
2.81%
Harbour Asset Management Limited
5,320,707A$200.1m0%23.67%
2.74%
Capital Research and Management Company
5,190,547A$195.2m0%0.01%
2.68%
The Vanguard Group, Inc.
5,073,151A$190.8m6.13%no data
2.49%
Accident Compensation Corporation, Asset Management Arm
4,718,820A$177.5m-3.95%4.1%
1.52%
Norges Bank Investment Management
2,881,009A$108.4m0%0.01%
1.46%
First NZ Capital Ltd., Asset Management Arm
2,768,249A$104.1m0%10.13%
1.14%
UBS Asset Management
2,164,148A$81.4m2530.83%0.01%
0.95%
Whyte Adder No.3 Ltd
1,796,425A$67.6m0%no data
0.61%
Smartshares Limited
1,158,508A$43.6m0%5.7%
0.48%
Dimensional Fund Advisors LP
909,348A$34.2m0.2%no data
0.19%
Charles Schwab Investment Management, Inc.
355,468A$13.4m1.93%no data
0.056%
Elizabeth Coutts
106,915A$4.0m0%no data
0.044%
Pacific Life Fund Advisors LLC
82,700A$3.1m-5.92%0.02%
0.034%
Goldman Sachs Asset Management, L.P.
64,160A$2.4m0.45%no data
0.027%
RAM Active Investments S.A.
51,818A$1.9m36.35%0.13%
0.023%
Invesco Capital Management LLC
43,518A$1.6m-18.48%no data
0.023%
Tokio Marine Asset Management Co., Ltd.
42,800A$1.6m0%0.01%
0.015%
Mercer Limited,Asset Management Arm
28,237A$1.1m0%0.02%
0.013%
Mercer Investments LLC
24,452A$919.6k0%0.01%
0.013%
John Cullity
24,186A$909.6k1558.85%no data
0.012%
Mercer Global Investments Europe Limited
23,385A$879.5k0%no data
0.0096%
Legal & General Investment Management Limited
18,244A$686.2k0%no data
0.0091%
Voya Investment Management LLC
17,216A$647.5k-5.6%no data
0.0087%
BlackRock, Inc.
16,450A$618.7k13.4%no data

Company Information

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


Key Information

  • Name: EBOS Group Limited
  • Ticker: EBO
  • Exchange: NZSE
  • Founded: 1922
  • Industry: Health Care Distributors
  • Sector: Healthcare
  • Implied Market Cap: NZ$7.169b
  • Shares outstanding: 190.63m
  • Website: https://www.ebosgroup.com

Number of Employees


Location

  • EBOS Group Limited
  • 737 Bourke Street
  • Level 7
  • Docklands
  • Victoria
  • 3008
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EBONZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDJun 1999
EBOS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 1999
EBOASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 1999
EBOCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 1999

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.