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FPH

Fisher & Paykel Healthcare NZSE:FPH Stock Report

Last Price

NZ$21.05

Market Cap

NZ$12.2b

7D

3.4%

1Y

-36.4%

Updated

18 May, 2022

Data

Company Financials +
FPH fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance5/6
Financial Health6/6
Dividends0/6

FPH Stock Overview

Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, markets, and sells medical device products and systems worldwide.

Rewards

Earnings are forecast to grow 3.55% per year

Earnings have grown 27.2% per year over the past 5 years

Risk Analysis

No risks detected for FPH from our risk checks.

Fisher & Paykel Healthcare Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fisher & Paykel Healthcare
Historical stock prices
Current Share PriceNZ$21.05
52 Week HighNZ$34.55
52 Week LowNZ$20.15
Beta-0.12
1 Month Change-5.44%
3 Month Change-26.94%
1 Year Change-36.44%
3 Year Change27.34%
5 Year Change102.79%
Change since IPO4,577.78%

Recent News & Updates

Apr 17
A Look At The Fair Value Of Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH)

A Look At The Fair Value Of Fisher & Paykel Healthcare Corporation Limited (NZSE:FPH)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Fisher & Paykel...

Apr 04
Fisher & Paykel Healthcare (NZSE:FPH) Could Become A Multi-Bagger

Fisher & Paykel Healthcare (NZSE:FPH) Could Become A Multi-Bagger

There are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want...

Mar 06
Does Fisher & Paykel Healthcare (NZSE:FPH) Have A Healthy Balance Sheet?

Does Fisher & Paykel Healthcare (NZSE:FPH) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

FPHNZ Medical EquipmentNZ Market
7D3.4%-0.7%-1.1%
1Y-36.4%-24.8%-13.4%

Return vs Industry: FPH underperformed the NZ Medical Equipment industry which returned -24.8% over the past year.

Return vs Market: FPH underperformed the NZ Market which returned -13.4% over the past year.

Price Volatility

Is FPH's price volatile compared to industry and market?
FPH volatility
FPH Average Weekly Movement4.6%
Medical Equipment Industry Average Movement9.1%
Market Average Movement4.3%
10% most volatile stocks in NZ Market7.5%
10% least volatile stocks in NZ Market2.9%

Stable Share Price: FPH is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 5% a week.

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

About the Company

FoundedEmployeesCEOWebsite
19345,811Lewis Gradonhttps://www.fphcare.com

Fisher & Paykel Healthcare Corporation Limited, together with its subsidiaries, designs, manufactures, markets, and sells medical device products and systems worldwide. It provides its products for use in acute and chronic respiratory care, and surgery, as well as the treatment of obstructive sleep apnea (OSA) in the home and hospital. The company offers Airvo 2, a humidified nasal high flow system; Optiflow, a nasal high flow therapy; and F&P 850 System, a noninvasive and invasive ventilation system.

Fisher & Paykel Healthcare Fundamentals Summary

How do Fisher & Paykel Healthcare's earnings and revenue compare to its market cap?
FPH fundamental statistics
Market CapNZ$12.15b
Earnings (TTM)NZ$520.50m
Revenue (TTM)NZ$1.96b

23.3x

P/E Ratio

6.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FPH income statement (TTM)
RevenueNZ$1.96b
Cost of RevenueNZ$709.60m
Gross ProfitNZ$1.25b
Other ExpensesNZ$730.90m
EarningsNZ$520.50m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

May 24, 2022

Earnings per share (EPS)0.90
Gross Margin63.81%
Net Profit Margin26.54%
Debt/Equity Ratio4.5%

How did FPH perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

43%

Payout Ratio

Valuation

Is Fisher & Paykel Healthcare undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


23.35x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: FPH (NZ$21.05) is trading above our estimate of fair value (NZ$18.59)

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 (23.3x) compared to the Oceanic Medical Equipment industry average (23x).

PE vs Market: FPH is poor value based on its PE Ratio (23.3x) compared to the NZ market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: FPH is poor value based on its PEG Ratio (6.6x)


Price to Book Ratio

PB vs Industry: FPH is overvalued based on its PB Ratio (7.6x) compared to the XO Medical Equipment industry average (2.9x).


Future Growth

How is Fisher & Paykel Healthcare forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FPH's forecast earnings growth (3.5% per year) is above the savings rate (2%).

Earnings vs Market: FPH's earnings (3.5% per year) are forecast to grow slower than the NZ market (6.6% per year).

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

Revenue vs Market: FPH's revenue (3.3% per year) is forecast to grow slower than the NZ market (5.2% per year).

High Growth Revenue: FPH's revenue (3.3% 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 (22.4%)


Past Performance

How has Fisher & Paykel Healthcare performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


27.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FPH has high quality earnings.

Growing Profit Margin: FPH's current net profit margins (26.5%) are higher than last year (24.4%).


Past Earnings Growth Analysis

Earnings Trend: FPH's earnings have grown significantly by 27.2% per year over the past 5 years.

Accelerating Growth: FPH's earnings growth over the past year (32.9%) exceeds its 5-year average (27.2% per year).

Earnings vs Industry: FPH earnings growth over the past year (32.9%) underperformed the Medical Equipment industry 32.9%.


Return on Equity

High ROE: FPH's Return on Equity (32.7%) is considered high.


Financial Health

How is Fisher & Paykel Healthcare's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FPH's short term assets (NZ$867.7M) exceed its short term liabilities (NZ$314.3M).

Long Term Liabilities: FPH's short term assets (NZ$867.7M) exceed its long term liabilities (NZ$140.3M).


Debt to Equity History and Analysis

Debt Level: FPH has more cash than its total debt.

Reducing Debt: FPH's debt to equity ratio has reduced from 11.4% to 4.5% over the past 5 years.

Debt Coverage: FPH's debt is well covered by operating cash flow (739.6%).

Interest Coverage: FPH's interest payments on its debt are well covered by EBIT (220.5x coverage).


Balance Sheet


Dividend

What is Fisher & Paykel Healthcare 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

  • Future Dividend Coverage


1.54%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FPH's dividend (1.54%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (3.12%).

High Dividend: FPH's dividend (1.54%) is low compared to the top 25% of dividend payers in the NZ market (5.62%).


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.


Earnings Payout to Shareholders

Earnings Coverage: FPH is not paying a notable dividend for the NZ market.


Cash Payout to Shareholders

Cash Flow Coverage: FPH is not paying a notable dividend for the NZ market.


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Lewis Gradon (60 yo)

6.08yrs

Tenure

NZ$3,993,417

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. He served as the Senior Vice Presiden...


CEO Compensation Analysis

Compensation vs Market: Lewis's total compensation ($USD2.53M) is above average for companies of similar size in the NZ market ($USD1.75M).

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


Leadership Team

Experienced Management: FPH's management team is considered experienced (4.6 years average tenure).


Board Members

Experienced Board: FPH's board of directors are considered experienced (6.3 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 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
  • Implied Market Cap: NZ$12.152b
  • Shares outstanding: 577.29m
  • 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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/18 00:00
End of Day Share Price2022/05/18 00:00
Earnings2021/09/30
Annual Earnings2021/03/31


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.