Fisher & Paykel Healthcare (NZSE:FPH) - Share price, News & Analysis

FPH fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

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

Samsung Electronics

KOSE:A005930

₩455.9t

Medtronic

NYSE:MDT

US$137.5b

ResMed

NYSE:RMD

US$28.9b

Koninklijke Philips

ENXTAM:PHIA

€20.3b

Price History & Performance

Summary of all time highs, changes and price drops for Fisher & Paykel Healthcare
Historical stock prices
Current Share Price	NZ$20.85
52 Week High	NZ$34.55
52 Week Low	NZ$20.15
Beta	-0.12
1 Month Change	-6.46%
3 Month Change	-25.54%
1 Year Change	-38.31%
3 Year Change	25.07%
5 Year Change	96.51%
Change since IPO	4,533.33%

Recent News & Updates

Apr 17

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

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?

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

Shareholder Returns

	FPH	NZ Medical Equipment	NZ Market
7D	-0.9%	-0.2%	0.5%
1Y	-38.3%	-25.9%	-13.4%

Return vs Industry: FPH underperformed the NZ Medical Equipment industry which returned -25.9% 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 Movement	4.6%
Medical Equipment Industry Average Movement	9.0%
Market Average Movement	4.2%
10% most volatile stocks in NZ Market	7.7%
10% least volatile stocks in NZ Market	2.8%

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

Founded	Employees	CEO	Website
1934	5,811	Lewis Gradon	https://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 Cap	NZ$12.04b
Earnings (TTM)	NZ$520.50m
Revenue (TTM)	NZ$1.96b

23.1x

P/E Ratio

6.1x

P/S Ratio

Is FPH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
FPH income statement (TTM)
Revenue	NZ$1.96b
Cost of Revenue	NZ$709.60m
Gross Profit	NZ$1.25b
Other Expenses	NZ$730.90m
Earnings	NZ$520.50m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

May 24, 2022

Earnings per share (EPS)	0.90
Gross Margin	63.81%
Net Profit Margin	26.54%
Debt/Equity Ratio	4.5%

How did FPH perform over the long term?

See historical performance and comparison

Dividends

1.6%

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

23.13x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: FPH (NZ$20.85) is trading above our estimate of fair value (NZ$18.6)

Significantly Below Fair Value: FPH is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: FPH's PE Ratio (23.1x) is in line with the Oceanic Medical Equipment industry average.

PE vs Market: FPH is poor value based on its PE Ratio (23.1x) compared to the NZ market (17.5x).

Price to Earnings Growth Ratio

PEG Ratio: FPH is poor value based on its PEG Ratio (6.5x)

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 (3.1x).

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 (6.7% 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 (5.9% 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

1.56%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FPH's dividend (1.56%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (3.1%).

High Dividend: FPH's dividend (1.56%) is low compared to the top 25% of dividend payers in the NZ market (5.65%).

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.

Discover strong dividend paying companies

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 ($USD2.55M) is above average for companies of similar size in the NZ market ($USD1.78M).

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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2021/09/30
Annual Earnings	2021/03/31