Fisher & Paykel Healthcare
Market Cap
NZ$17.6b
Last Updated
2020/04/04 10:32 UTC
Data Sources
Company Financials +
Executive Summary
Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, markets, and sells medical device products and systems.
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has Fisher & Paykel Healthcare's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FPH's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
7.3%
FPH
9.7%
NZ Medical Equipment
3.4%
NZ Market
1 Year Return
98.4%
FPH
40.3%
NZ Medical Equipment
-5.4%
NZ Market
Return vs Industry: FPH exceeded the NZ Medical Equipment industry which returned 40.3% over the past year.
Return vs Market: FPH exceeded the NZ Market which returned -5.4% over the past year.
Shareholder returns
| FPH | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.3% | 9.7% | 3.4% |
| 30 Day | 15.8% | -1.3% | -13.9% |
| 90 Day | 37.6% | 2.2% | -17.4% |
| 1 Year | 101.8%98.4% | 42.8%40.3% | -2.0%-5.4% |
| 3 Year | 234.4%216.3% | 81.7%72.8% | 29.0%13.1% |
| 5 Year | 393.7%346.0% | 147.3%125.6% | 61.0%26.0% |
Price Volatility Vs. Market
How volatile is Fisher & Paykel Healthcare's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
The Fisher & Paykel Healthcare (NZSE:FPH) Share Price Has Soared 346%, Delighting Many Shareholders2 weeks ago | Simply Wall St
Does Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) Recent Track Record Look Strong?3 weeks ago | Simply Wall St
Here's What Fisher & Paykel Healthcare Corporation Limited's (NZSE:FPH) P/E Is Telling UsValuation
Is Fisher & Paykel Healthcare undervalued compared to its fair value and its price relative to the market?
75.22x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FPH (NZ$30.55) is trading above our estimate of fair value (NZ$22.33)
Significantly Below Fair Value: FPH is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FPH is poor value based on its PE Ratio (75.2x) compared to the Medical Equipment industry average (27.2x).
PE vs Market: FPH is poor value based on its PE Ratio (75.2x) compared to the NZ market (15.6x).
Price to Earnings Growth Ratio
PEG Ratio: FPH is poor value based on its PEG Ratio (4.3x)
Price to Book Ratio
PB vs Industry: FPH is overvalued based on its PB Ratio (19.1x) compared to the XO Medical Equipment industry average (3.4x).
Next Steps
Future Growth
How is Fisher & Paykel Healthcare forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
17.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FPH's forecast earnings growth (17.4% per year) is above the savings rate (1.3%).
Earnings vs Market: FPH's earnings (17.4% per year) are forecast to grow faster than the NZ market (9.4% per year).
High Growth Earnings: FPH's earnings are forecast to grow, but not significantly.
Revenue vs Market: FPH's revenue (13.4% per year) is forecast to grow faster than the NZ market (6.2% per year).
High Growth Revenue: FPH's revenue (13.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FPH's Return on Equity is forecast to be high in 3 years time (32.9%)
Next Steps
Past Performance
How has Fisher & Paykel Healthcare performed over the past 5 years?
15.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FPH has high quality earnings.
Growing Profit Margin: FPH's current net profit margins (20.6%) are higher than last year (20%).
Past Earnings Growth Analysis
Earnings Trend: FPH's earnings have grown by 15.1% per year over the past 5 years.
Accelerating Growth: FPH's earnings growth over the past year (12.9%) is below its 5-year average (15.1% per year).
Earnings vs Industry: FPH earnings growth over the past year (12.9%) underperformed the Medical Equipment industry 14.3%.
Return on Equity
High ROE: FPH's Return on Equity (25.4%) is considered high.
Next Steps
Financial Health
How is Fisher & Paykel Healthcare's financial position?
Financial Position Analysis
Short Term Liabilities: FPH's short term assets (NZ$412.0M) exceed its short term liabilities (NZ$199.6M).
Long Term Liabilities: FPH's short term assets (NZ$412.0M) exceed its long term liabilities (NZ$136.7M).
Debt to Equity History and Analysis
Debt Level: FPH's debt to equity ratio (10.8%) is considered satisfactory.
Reducing Debt: FPH's debt to equity ratio has reduced from 24.6% to 10.8% over the past 5 years.
Debt Coverage: FPH's debt is well covered by operating cash flow (276.7%).
Interest Coverage: FPH's interest payments on its debt are well covered by EBIT (3119x coverage).
Balance Sheet
Inventory Level: FPH has a high level of physical assets or inventory.
Debt Coverage by Assets: FPH's debt is covered by short term assets (assets are 4.2x debt).
Next Steps
Dividend
What is Fisher & Paykel Healthcare's current dividend yield, its reliability and sustainability?
0.76%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FPH's dividend (0.76%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (3.44%).
High Dividend: FPH's dividend (0.76%) is low compared to the top 25% of dividend payers in the NZ market (7.79%).
Stability and Growth of Payments
Stable Dividend: FPH is not paying a notable dividend for the NZ market, therefore no need to check if payments are stable.
Growing Dividend: FPH is not paying a notable dividend for the NZ market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: FPH is not paying a notable dividend for the NZ market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of FPH's dividend in 3 years as they are not forecast to pay a notable one for the NZ market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.7yrs
Average management tenure
CEO
Lewis Gradon (58yo)
4s
Tenure
NZ$2,678,092
Compensation
Mr. Lewis G. Gradon has been the Chief Executive Officer, Managing Director & Executive Director at Fisher & Paykel Healthcare Corporation Limited since April 1, 2016. Mr. Gradon served as the Senior Vice ...
CEO Compensation Analysis
Compensation vs Market: Lewis's total compensation ($USD1.57M) is below average for companies of similar size in the NZ market ($USD3.56M).
Compensation vs Earnings: Lewis's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 4yrs | NZ$2.68m | 0.11% NZ$18.4m | |
| Chief Financial Officer | 1.08yrs | no data | no data | |
| Vice President of Products & Technology | 4yrs | no data | 0.012% NZ$2.1m | |
| Investor Relations Manager | no data | no data | no data | |
| Senior Communications Manager | no data | no data | no data | |
| Senior Vice President of Sales & Marketing | 18.42yrs | no data | 0.071% NZ$12.4m | |
| VP of Human Resources & Privacy Officer | 3.33yrs | no data | no data | |
| Vice President of Corporate | no data | no data | no data | |
| General Manager of Finance | 1.08yrs | no data | no data |
3.7yrs
Average Tenure
Experienced Management: FPH's management team is considered experienced (3.7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 4yrs | NZ$2.68m | 0.11% NZ$18.4m | |
| Non-Executive Director | 18.42yrs | NZ$115.70k | 0.17% NZ$29.8m | |
| Independent Non-Executive Director | 7.33yrs | NZ$157.16k | 0.012% NZ$2.1m | |
| Independent Non-Executive Director | 1.42yrs | NZ$52.70k | 0.0013% NZ$219.4k | |
| Independent Non-Executive Director | 4.5yrs | NZ$143.80k | 0.0031% NZ$535.4k | |
| Independent Non Executive Director | 6.67yrs | NZ$98.85k | 0.00022% NZ$38.6k | |
| Chairman | 8yrs | NZ$224.70k | 0.013% NZ$2.3m | |
| Non-Executive Director | 2.83yrs | NZ$121.30k | 0.00066% NZ$115.9k |
5.6yrs
Average Tenure
60.5yo
Average Age
Experienced Board: FPH's board of directors are considered experienced (5.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Fisher & Paykel Healthcare Corporation Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Fisher & Paykel Healthcare Corporation Limited
- Ticker: FPH
- Exchange: NZSE
- Founded: 1934
- Industry: Health Care Equipment
- Sector: Healthcare
- Market Cap: NZ$17.554b
- Shares outstanding: 574.60m
- Website: https://www.fphcare.com
Number of Employees
Location
- Fisher & Paykel Healthcare Corporation Limited
- 15 Maurice Paykel Place
- East Tamaki
- Auckland
- 2013
- New Zealand
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FSPK.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| FPH | NZSE (New Zealand Stock Exchange) | Yes | Ordinary Shares | NZ | NZD | Jan 1992 |
| FPH | ASX (Australian Securities Exchange) | Yes | Ordinary Shares | AU | AUD | Jan 1992 |
| FPH | CHIA (Chi-X Australia) | Yes | Ordinary Shares | AU | AUD | Jan 1992 |
| FSPK.Y | OTCPK (Pink Sheets LLC) | UNSPONSORD ADR | US | USD | Oct 2008 |
Biography
Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, markets, and sells medical device products and systems. It provides its products for use in respiratory care, acute care, and surgery, as well as the treatment of obstructive sleep apnea (OSA) in the home and within the hospital. The company offers adult respiratory products, including 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, such as resuscitation, invasive ventilation, continuous positive airway pressure (CPAP) therapy, and nasal high flow therapy products. In addition, the company offers hospital products comprising humidification products, breathing circuits, chambers, masks, nasal cannulas, accessories, and interfaces; and homecare products that include masks, CPAP devices, data management products, humidifiers, and accessories. It has operations in North America, Europe, the Asia Pacific, and internationally. The company was founded in 1934 and is headquartered in Auckland, New Zealand.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/04 10:32 |
| End of Day Share Price | 2020/04/03 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/03/31 |
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.