Fisher & Paykel Healthcare
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Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, and markets medical device products and systems worldwide. The last earnings update was 90 days ago. More info.
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FPH Share Price and Events
7 Day Returns
1 Year Returns
FPH Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Fisher & Paykel Healthcare (FPH) | 6.7% | 4.3% | 10.3% | 8.3% | 63.9% | 259.4% |
| Oceania Medical Equipment | -3.9% | -3% | 6.3% | -2.8% | 46.1% | 121.8% |
| NZ Market | 0.3% | 1.5% | 5% | 6% | 27.6% | 44.1% |
1 Year Return vs Industry and Market
- FPH outperformed the Medical Equipment industry which returned -2.8% over the past year.
- FPH outperformed the Market in New Zealand which returned 6% over the past year.
FPH Value
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
Fisher & Paykel Healthcare
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Fisher & Paykel Healthcare.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 9 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.5% |
| Perpetual Growth Rate | 10-Year NZ Government Bond Rate | 2.4% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year NZ Govt Bond Rate | 2.4% |
| Equity Risk Premium | S&P Global | 7.6% |
| Medical Equipment Unlevered Beta | Simply Wall St/ S&P Global | 0.52 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.519 (1 + (1- 28%) (1.16%)) |
0.523 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.37% + (0.8 * 7.63%) |
8.47% |
Discounted Cash Flow Calculation for NZSE:FPH using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Fisher & Paykel Healthcare is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (NZD, Millions) | 79.50 | 184.00 | 271.00 | 302.56 | 337.80 |
| Source | Analyst x2 | Analyst x2 | Analyst x1 | Est @ 11.65% | Est @ 11.65% |
|
Present Value Discounted (@ 8.47%) |
73.29 | 156.37 | 212.32 | 218.53 | 224.92 |
| Present value of next 5 years cash flows | NZ$885.43 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= NZ$337.80 × (1 + 2.37%) ÷ (8.47% – 2.37%) |
NZ$5,665.20 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= NZ$5,665.20 ÷ (1 + 8.47%)5 |
NZ$3,772.13 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= NZ$885.43 + NZ$3,772.13 |
NZ$4,657.57 |
| Equity Value per Share (NZD) |
= Total value / Shares Outstanding
= NZ$4,657.57 / 573.65 |
NZ$8.12 |
| Calculation | Result | |
|---|---|---|
| Value per share (NZD) | From above. | NZ$8.12 |
| Current discount | Discount to share price of
NZ$14.41
= -1 x (NZ$14.41 - NZ$8.12) / NZ$8.12 |
-77.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Fisher & Paykel Healthcare is above its future cash flow value.
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 Fisher & Paykel Healthcare's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Fisher & Paykel Healthcare's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in NZD | NZ$0.36 |
| NZSE:FPH Share Price ** | NZSE (2019-02-22) in NZD | NZ$14.41 |
| Oceania Medical Equipment Industry PE Ratio | Median Figure of 9 Publicly-Listed Medical Equipment Companies | 21.95x |
| New Zealand Market PE Ratio | Median Figure of 90 Publicly-Listed Companies | 17.27x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Fisher & Paykel Healthcare.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NZSE:FPH Share Price ÷ EPS (both in NZD) = 14.41 ÷ 0.36 |
39.92x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fisher & Paykel Healthcare is overvalued based on earnings compared to the Oceania Medical Equipment industry average.
- Fisher & Paykel Healthcare is overvalued based on earnings compared to the New Zealand market.
Price based on expected Growth
Does
Fisher & Paykel Healthcare's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 39.92x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
14.5%per year |
| Global Medical Equipment Industry PEG Ratio | Median Figure of 105 Publicly-Listed Medical Equipment Companies | 2.51x |
| New Zealand Market PEG Ratio | Median Figure of 65 Publicly-Listed Companies | 1.21x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 39.92x ÷ 14.5% |
2.74x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fisher & Paykel Healthcare is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Fisher & Paykel Healthcare's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in NZD | NZ$1.36 |
| NZSE:FPH Share Price * | NZSE (2019-02-22) in NZD | NZ$14.41 |
| Oceania Medical Equipment Industry PB Ratio | Median Figure of 31 Publicly-Listed Medical Equipment Companies | 2.76x |
| New Zealand Market PB Ratio | Median Figure of 126 Publicly-Listed Companies | 1.47x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NZSE:FPH Share Price ÷ Book Value per Share (both in NZD) = 14.41 ÷ 1.36 |
10.61x |
* Primary Listing of Fisher & Paykel Healthcare.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fisher & Paykel Healthcare is overvalued based on assets compared to the Oceania Medical Equipment industry average.
Value checks
We assess Fisher & Paykel Healthcare's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check) Fisher & Paykel Healthcare has a total score of 0/6, 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.
FPH Future Performance
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!
Earnings growth vs Low Risk Savings
- Fisher & Paykel Healthcare's earnings growth is expected to exceed the low risk savings rate of 2.4%.
Growth vs Market Checks
- Fisher & Paykel Healthcare's earnings growth is expected to exceed the New Zealand market average.
- Fisher & Paykel Healthcare's revenue growth is expected to exceed the New Zealand market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NZSE:FPH Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 14.5% |
| NZSE:FPH Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 9.9% |
| Oceania Medical Equipment Industry Earnings Growth Rate | Market Cap Weighted Average | 13% |
| Oceania Medical Equipment Industry Revenue Growth Rate | Market Cap Weighted Average | 9% |
| New Zealand Market Earnings Growth Rate | Market Cap Weighted Average | 4.9% |
| New Zealand Market Revenue Growth Rate | Market Cap Weighted Average | 5% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in NZD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | 1,606 | 376 | 1 | |
| 2022-03-31 | 1,452 | 333 | 1 | |
| 2021-03-31 | 1,334 | 349 | 290 | 8 |
| 2020-03-31 | 1,201 | 291 | 250 | 9 |
| 2019-03-31 | 1,081 | 237 | 209 | 9 |
| Date (Data in NZD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 1,034 | 259 | 206 |
| 2018-06-30 | 1,007 | 253 | 198 |
| 2018-03-31 | 981 | 248 | 190 |
| 2017-12-31 | 954 | 224 | 181 |
| 2017-09-30 | 928 | 200 | 172 |
| 2017-06-30 | 911 | 197 | 171 |
| 2017-03-31 | 894 | 194 | 169 |
| 2016-12-31 | 877 | 190 | 164 |
| 2016-09-30 | 860 | 186 | 160 |
| 2016-06-30 | 838 | 165 | 152 |
| 2016-03-31 | 815 | 145 | 143 |
| 2015-12-31 | 776 | 135 | 135 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Fisher & Paykel Healthcare Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in NZD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | 0.62 | 0.62 | 0.62 | 1.00 |
| 2022-03-31 | 0.56 | 0.56 | 0.56 | 1.00 |
| 2021-03-31 | 0.51 | 0.52 | 0.49 | 5.00 |
| 2020-03-31 | 0.44 | 0.45 | 0.42 | 6.00 |
| 2019-03-31 | 0.36 | 0.37 | 0.35 | 6.00 |
| Date (Data in NZD Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.36 |
| 2018-06-30 | 0.35 |
| 2018-03-31 | 0.33 |
| 2017-12-31 | 0.32 |
| 2017-09-30 | 0.30 |
| 2017-06-30 | 0.30 |
| 2017-03-31 | 0.30 |
| 2016-12-31 | 0.29 |
| 2016-09-30 | 0.28 |
| 2016-06-30 | 0.27 |
| 2016-03-31 | 0.26 |
| 2015-12-31 | 0.24 |
*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.
- Fisher & Paykel Healthcare is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Future performance checks
We assess Fisher & Paykel Healthcare's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Oceania market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Oceania market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Fisher & Paykel Healthcare 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.
FPH Past Performance
How has Fisher & Paykel Healthcare 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
Past Earnings growth analysis
- Fisher & Paykel Healthcare's year on year earnings growth rate has been positive over the past 5 years.
- Fisher & Paykel Healthcare's 1-year earnings growth exceeds its 5-year average (19.7% vs 16.9%)
- Fisher & Paykel Healthcare's earnings growth has not exceeded the Oceania Medical Equipment industry average in the past year (19.7% vs 19.7%).
Earnings and Revenue History
All data from Fisher & Paykel Healthcare Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in NZD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 1,033.70 | 206.30 | 307.00 | 93.50 |
| 2018-06-30 | 1,007.25 | 198.25 | 298.95 | 94.10 |
| 2018-03-31 | 980.80 | 190.20 | 290.90 | 94.70 |
| 2017-12-31 | 954.20 | 181.25 | 288.70 | 93.00 |
| 2017-09-30 | 927.60 | 172.30 | 286.50 | 91.30 |
| 2017-06-30 | 911.00 | 170.75 | 277.90 | 88.65 |
| 2017-03-31 | 894.40 | 169.20 | 269.30 | 86.00 |
| 2016-12-31 | 877.06 | 164.39 | 262.50 | 82.53 |
| 2016-09-30 | 859.72 | 159.59 | 255.70 | 79.06 |
| 2016-06-30 | 837.60 | 151.51 | 248.99 | 76.17 |
| 2016-03-31 | 815.49 | 143.43 | 242.28 | 73.29 |
| 2015-12-31 | 775.68 | 134.86 | 222.56 | 71.39 |
| 2015-09-30 | 735.87 | 126.29 | 202.83 | 69.48 |
| 2015-06-30 | 704.11 | 119.73 | 191.87 | 67.23 |
| 2015-03-31 | 672.35 | 113.17 | 180.91 | 64.99 |
| 2014-12-31 | 654.66 | 107.33 | 178.54 | 62.33 |
| 2014-09-30 | 636.97 | 101.48 | 176.17 | 59.67 |
| 2014-06-30 | 630.21 | 99.27 | 173.81 | 56.91 |
| 2014-03-31 | 623.45 | 97.05 | 171.45 | 54.15 |
| 2013-12-31 | 608.34 | 92.67 | 166.15 | 52.17 |
| 2013-09-30 | 593.23 | 88.29 | 160.85 | 50.20 |
| 2013-06-30 | 574.74 | 82.67 | 156.32 | 47.96 |
| 2013-03-31 | 556.25 | 77.05 | 151.79 | 45.72 |
| 2012-12-31 | 543.95 | 73.07 | 149.53 | 44.60 |
| 2012-09-30 | 531.65 | 69.09 | 147.27 | 43.47 |
| 2012-06-30 | 524.17 | 66.60 | 144.96 | 42.73 |
| 2012-03-31 | 516.69 | 64.11 | 142.64 | 41.99 |
*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.
- Fisher & Paykel Healthcare has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Fisher & Paykel Healthcare used its assets more efficiently than the Oceania Medical Equipment industry average last year based on Return on Assets.
- Fisher & Paykel Healthcare's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Fisher & Paykel Healthcare's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Fisher & Paykel Healthcare has a total score of 4/6, 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.
FPH Health
How is Fisher & Paykel Healthcare'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 Fisher & Paykel Healthcare's finances.
The net worth of a company is the difference between its assets and liabilities.
- Fisher & Paykel Healthcare is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Fisher & Paykel Healthcare's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 4.2x 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.
All data from Fisher & Paykel Healthcare Company Filings, last reported 4 months ago.
| Date (Data in NZD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 776.70 | 96.00 | 110.80 |
| 2018-06-30 | 776.70 | 96.00 | 110.80 |
| 2018-03-31 | 761.40 | 82.70 | 132.60 |
| 2017-12-31 | 761.40 | 82.70 | 132.60 |
| 2017-09-30 | 687.20 | 85.90 | 59.50 |
| 2017-06-30 | 687.20 | 85.90 | 59.50 |
| 2017-03-31 | 661.60 | 61.90 | 61.50 |
| 2016-12-31 | 661.60 | 61.90 | 61.50 |
| 2016-09-30 | 589.98 | 67.15 | 18.00 |
| 2016-06-30 | 589.98 | 67.15 | 18.00 |
| 2016-03-31 | 541.67 | 69.21 | 18.74 |
| 2015-12-31 | 541.67 | 69.21 | 18.74 |
| 2015-09-30 | 447.77 | 115.43 | 12.08 |
| 2015-06-30 | 447.77 | 115.43 | 12.08 |
| 2015-03-31 | 471.19 | 70.93 | 13.67 |
| 2014-12-31 | 471.19 | 70.93 | 13.67 |
| 2014-09-30 | 414.25 | 102.22 | 7.05 |
| 2014-06-30 | 414.25 | 102.22 | 7.05 |
| 2014-03-31 | 406.12 | 112.74 | 10.63 |
| 2013-12-31 | 406.12 | 112.74 | 10.63 |
| 2013-09-30 | 373.07 | 150.02 | 7.01 |
| 2013-06-30 | 373.07 | 150.02 | 7.01 |
| 2013-03-31 | 372.23 | 141.77 | 7.74 |
| 2012-12-31 | 372.23 | 141.77 | 7.74 |
| 2012-09-30 | 353.62 | 155.38 | 5.07 |
| 2012-06-30 | 353.62 | 155.38 | 5.07 |
| 2012-03-31 | 348.15 | 121.65 | 6.25 |
- Fisher & Paykel Healthcare's level of debt (12.4%) 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 (40.1% vs 12.4% today).
- Debt is well covered by operating cash flow (269.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 419.7x coverage).
Financial health checks
We assess Fisher & Paykel Healthcare's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Fisher & Paykel Healthcare has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
FPH Dividends
What is Fisher & Paykel Healthcare'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
If you bought
NZ$2,000 of
Fisher & Paykel Healthcare
shares you are expected to receive
NZ$29
in your first year as a dividend.
Dividend Amount
- Fisher & Paykel Healthcare's pays a lower dividend yield than the bottom 25% of dividend payers in New Zealand (3.22%).
- Fisher & Paykel Healthcare's dividend is below the markets top 25% of dividend payers in New Zealand (5.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Oceania Medical Equipment Industry Average Dividend Yield | Market Cap Weighted Average of 5 Stocks | 1.8% |
| New Zealand Market Average Dividend Yield | Market Cap Weighted Average of 78 Stocks | 4.1% |
| New Zealand Minimum Threshold Dividend Yield | 10th Percentile | 1.9% |
| New Zealand Bottom 25% Dividend Yield | 25th Percentile | 3.2% |
| New Zealand Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in NZ$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-03-31 | 0.53 | 1.00 |
| 2022-03-31 | 0.47 | 1.00 |
| 2021-03-31 | 0.36 | 7.00 |
| 2020-03-31 | 0.30 | 8.00 |
| 2019-03-31 | 0.24 | 8.00 |
| Date (Data in NZ$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-11-26 | 0.210 | 1.598 |
| 2018-05-28 | 0.213 | 1.459 |
| 2017-11-23 | 0.200 | 1.521 |
| 2017-05-22 | 0.195 | 1.646 |
| 2016-08-23 | 0.167 | 1.805 |
| 2015-05-29 | 0.138 | 1.630 |
| 2015-05-28 | 0.138 | 2.141 |
| 2014-05-23 | 0.124 | 2.235 |
| 2014-05-22 | 0.124 | 2.953 |
| 2013-05-22 | 0.124 | 3.299 |
| 2012-11-21 | 0.172 | 6.778 |
| 2012-05-24 | 0.124 | 5.841 |
| 2011-11-22 | 0.124 | 5.459 |
| 2011-05-24 | 0.124 | 4.961 |
| 2010-11-24 | 0.124 | 4.010 |
| 2010-08-27 | 0.124 | 4.054 |
| 2009-11-18 | 0.124 | 3.836 |
| 2009-05-26 | 0.124 | 4.000 |
| 2009-02-24 | 0.124 | 3.951 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fisher & Paykel Healthcare is not paying a notable dividend for New Zealand, therefore no need to check if the payments are stable.
- Fisher & Paykel Healthcare is not paying a notable dividend for New Zealand, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Fisher & Paykel Healthcare's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Fisher & Paykel Healthcare afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Fisher & Paykel Healthcare has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
FPH Management
CEO
| COMPENSATION | NZ$2,312,909 |
| AGE | 57 |
| TENURE AS CEO | 2.8 years |
CEO Bio
Mr. Lewis G. Gradon has been the Chief Executive Officer, Managing Director & Executive Director at Fisher & Paykel Healthcare Corporation Limited since April 1, 2016. Mr. Gradon served as the Senior Vice President of Products & Technology at Fisher & Paykel Healthcare Corporation Limited from 2001 to March 31, 2016. He served as Senior Vice President of Research and Development at Fisher & Paykel Healthcare Corporation Limited since November 2001. He served six years as the General Manager of Research and Development of Fisher & Paykel Industries' healthcare business since September 1996 and as Research and Development Manager since May 1990 and Senior Vice President of Products & Technology for 15 years. During his 35 year tenure with Fisher & Paykel Healthcare he has also held various engineering positions, included product design engineer since 1985 and he has overseen the development of its complete healthcare product range. As at 31 March 2018 he held as Director of Fisher & Paykel Healthcare Employee Share Purchase Trustee Limited. He received his Bachelor of Science degree in physics from the University of Auckland, New Zealand. He held Directors of following subsidiaries at March 31, 2018: Fisher & Paykel Healthcare Limited (NZ), Fisher & Paykel Healthcare Properties Limited (NZ), Fisher & Paykel Healthcare Treasury Limited (NZ),Fisher & Paykel Healthcare Asia Limited (NZ),Fisher & Paykel Healthcare Asia Investments Limited (NZ),Fisher & Paykel Healthcare Americas Investments Limited (NZ),Fisher & Paykel Healthcare Pty Limited (Australia),Fisher & Paykel Healthcare Limited (Canada),Fisher & Paykel Healthcare (Guangzhou) Limited (China),Fisher & Paykel Healthcare SAS (France), Fisher & Paykel Healthcare Limited (Hong Kong),Fisher & Paykel Healthcare India Private Limited (India), Fisher & Paykel Healthcare K.K. (Japan), Fisher & Paykel Healthcare S.A. de C.V. (Mexico),Fisher & Paykel Healthcare Mexico S.A. de C.V. (Mexico),Fisher & Paykel Healthcare Mexico Properties S.A. de C.V. (Mexico), Limited Liability Company Fisher & Paykel Healthcare (Russia),Fisher & Paykel Healthcare AB (Sweden), Fisher Paykel Saglik Ürünleri Ticaret Limited Sirketi (Turkey), Fisher & Paykel Healthcare Limited (UK),Fisher & Paykel Holdings Inc. (USA) and Fisher & Paykel Healthcare Inc. (USA) and Fisher & Paykel Healthcare Distribution Inc.
CEO Compensation
- Lewis's compensation has increased by more than 20% in the past year.
- Insufficient data for Lewis to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure
Average tenure of the Fisher & Paykel Healthcare management team in years:
- The tenure for the Fisher & Paykel Healthcare management team is about average.
Management Team
Lewis Gradon
MD, CEO & Executive Director
NZ$2M
57
2.8 yrs
Andrea Blackie
Acting Chief Financial Officer
0.7 yrs
Andrew Somervell
Vice President of Products & Technology
2.8 yrs
Rachel Reynolds
Senior Communications Manager
Paul Shearer
Senior Vice President of Sales & Marketing
17.3 yrs
Debra Lumsden
VP of Human Resources & Privacy Officer
2.2 yrs
Marcus Driller
General Manager of Corporate
Tony Barclay
Consultant
0.7 yrs
Board of Directors Tenure
Average tenure and age of the Fisher & Paykel Healthcare board of directors in years:
- The tenure for the Fisher & Paykel Healthcare board of directors is about average.
Board of Directors
Tony Carter
Board Chair
NZ$218K
60
6.8 yrs
Lewis Gradon
MD, CEO & Executive Director
NZ$2M
57
2.8 yrs
Scott St John
Independent Non-Executive Director
NZ$137K
3.3 yrs
Pip Greenwood
Non-Executive Director
NZ$94K
1.7 yrs
Mike Daniell
Non-Executive Director
NZ$106K
60
17.3 yrs
Donal O’Dwyer
Independent Non-Executive Director
NZ$147K
65
6.2 yrs
Geraldine McBride
Independent Non Executive Director
NZ$96K
57
5.5 yrs
Claudia Wyss
Future Director
0.7 yrs
Neville Mitchell
Independent Non-Executive Director
59
0.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (NZ$) | Value (NZ$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Sep 18 | Sell | Lewis Gradon | Individual | 24. Sep 18 | 24. Sep 18 | -18,000 | NZ$15.08 | NZ$-271,523 | ||
| 27. Sep 18 | Buy | Lewis Gradon | Individual | 21. Sep 18 | 21. Sep 18 | 15,825 | NZ$15.25 | NZ$241,331 | ||
| 28. Jun 18 | Sell | Michael Daniell | Individual | 26. Jun 18 | 27. Jun 18 | -50,000 | NZ$15.20 | NZ$-759,279 | ||
| 20. Jun 18 | Buy | Michael Daniell | Individual | 19. Jun 18 | 19. Jun 18 | 101,335 | NZ$14.89 | NZ$1,508,878 | ||
| 17. Jun 18 | Buy | Capital Research and Management Company | Company | 14. Jun 18 | 14. Jun 18 | 3,852,008 | NZ$15.00 | NZ$57,757,848 | ||
| 12. Jun 18 | Sell | Antony Barclay | Individual | 06. Jun 18 | 06. Jun 18 | -10,000 | NZ$14.33 | NZ$-143,268 | ||
| 12. Jun 18 | Sell | Michael Daniell | Individual | 06. Jun 18 | 07. Jun 18 | -50,000 | NZ$14.37 | NZ$-703,978 | ||
| 04. Apr 18 | Buy | Arthur Morris | Individual | 26. Mar 18 | 29. Mar 18 | 20,000 | NZ$13.41 | NZ$262,749 | ||
Management checks
We assess Fisher & Paykel Healthcare's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Fisher & Paykel Healthcare 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.
FPH News
Simply Wall St News
Does Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) 20% Earnings Growth Make It An Outperformer?
For long term investors, improvement in profitability and outperformance against the industry can be important characteristics in a stock. … In this article, I will take a look at Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Check out our latest analysis for Fisher & Paykel Healthcare?
Simply Wall St - – Full articleDon't Sell Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) Before You Read This
We'll show how you can use Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Fisher & Paykel Healthcare's P/E ratio is 37.18. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhy Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) Could Have A Place In Your Portfolio
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH), it
Simply Wall St - – Full articleWhat Can We Make Of Fisher & Paykel Healthcare Corporation Limited’s (NZSE:FPH) High 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. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.
Simply Wall St - – Full articleDo Directors Own Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) Shares?
The big shareholder groups in Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of NZ$7.6b, Fisher & Paykel Healthcare is rather large.
Simply Wall St - – Full articleShould You Take Comfort From Insider Transactions At Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH)?
So we'll take a look at whether insiders have been buying or selling shares in Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … Overall, Fisher & Paykel Healthcare insiders were net buyers last year
Simply Wall St - – Full articleWhat You Must Know About Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Financial Health
Stocks with market capitalization between $2B and $10B, such as Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) with a size of NZ$7.2b, do not attract as much attention from the investing community as do the small-caps and large-caps. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … See our latest analysis for Fisher & Paykel Healthcare
Simply Wall St - – Full articleWhy You Should Care About Fisher & Paykel Healthcare Corporation Limited’s (NZSE:FPH) Cash Levels
If you are currently a shareholder in Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … I’ve analysed below, the health and outlook of Fisher & Paykel Healthcare’s cash flow, which will help you understand the stock from a cash standpoint. … The two ways to assess whether Fisher & Paykel Healthcare’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow
Simply Wall St - – Full articleWhy Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH) Looks Like A Quality Company
By way of learning-by-doing, we'll look at ROE to gain a better understanding Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH). … Fisher & Paykel Healthcare has a ROE of 27%, based on the last twelve months. … One way to conceptualize this, is that for each NZ$1 of shareholders' equity it has, the company made NZ$0.27 in profit.
Simply Wall St - – Full articleShould You Ramp Up Holdings In Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH)?
Today I want to bring to light the market's darling - Fisher & Paykel Healthcare Corporation Limited. … Looking at its size, financial health and track record, I believe there's an opportunity with Fisher & Paykel Healthcare during these volatile times. … Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, and markets medical device products and systems worldwide
Simply Wall St - – Full articleFPH Company Info
Map
Description
Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, and markets medical device products and systems worldwide. The company offers its products for use in respiratory, acute care, and surgery; and for the treatment of obstructive sleep apnea (OSA). It operates through four segments: New Zealand, North America, Europe, and Asia-Pacific. The company offers adult respiratory products, such as AIRVO 2 system, a humidifier with integrated flow source; Optiflow, a nasal high flow therapy; and noninvasive and invasive ventilation systems. It also provides infant respiratory products, including resuscitation, invasive ventilation, continuous positive airway pressure (CPAP) therapy, and nasal high flow therapy products. In addition, the company offers surgical humidification systems; and homecare products comprising masks, CPAP devices, data management, humidifiers, and accessories. It markets and sells its products through its distribution subsidiaries, third party distributors, and original equipment manufacturers. Fisher & Paykel Healthcare Corporation Limited was founded in 1934 and is headquartered in Auckland, New Zealand.
Details
| Name: | Fisher & Paykel Healthcare Corporation Limited |
| FPH | |
| Exchange: | NZSE |
| Founded: | 1934 |
| NZ$8,266,364,990 | |
| 573,654,753 | |
| Website: | http://www.fphcare.com |
| Address: |
Fisher & Paykel Healthcare Corporation Limited 15 Maurice Paykel Place, East Tamaki, Auckland, 2013, New Zealand |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NZSE | FPH | Ordinary Shares | New Zealand Stock Exchange | NZ | NZD | 02. Jan 1992 | |
| OTCPK | FSPK.F | Ordinary Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| ASX | FPH | Ordinary Shares | Australian Securities Exchange | AU | AUD | 02. Jan 1992 | |
| CHIA | FPH | Ordinary Shares | Chi-X Australia | AU | AUD | 02. Jan 1992 | |
| OTCPK | FSPK.Y | UNSPONSORD ADR | Pink Sheets LLC | US | USD | 29. Oct 2008 |
Number of employees
Current staff
Industry
| Health Care Equipment | |
| Healthcare |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/23 10:31 |
| End of day share price update: | 2019/02/22 00:00 |
| Last estimates confirmation: | 2019/02/21 |
| Last earnings filing: | 2018/11/25 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2018/03/31 |
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.
