NZSE:FPH

Stock Analysis Report

Fisher & Paykel Healthcare

Executive Summary

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

Snowflake

Fundamentals

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


Market Performance


7 Day Return

-3.0%

NZSE:FPH

0.6%

NZ Medical Equipment

-1.2%

NZ Market


1 Year Return

3.6%

NZSE:FPH

6.4%

NZ Medical Equipment

10.5%

NZ Market

FPH underperformed the Medical Equipment industry which returned 8.3% over the past year.

FPH underperformed the Market in New Zealand which returned 11.1% over the past year.


Share holder returns

FPHIndustryMarket
7 Day-3.0%0.6%-1.2%
30 Day-2.9%-1.5%-1.6%
90 Day-4.5%3.3%3.3%
1 Year5.7%3.6%8.4%6.4%15.3%10.5%
3 Year68.7%58.7%47.6%40.3%43.4%24.0%
5 Year255.1%219.0%159.4%135.9%101.8%56.2%

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

Valuation

Is Fisher & Paykel Healthcare undervalued based on future cash flows and its price relative to the stock market?

43.23x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Fisher & Paykel Healthcare's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Fisher & Paykel Healthcare's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Fisher & Paykel Healthcare is good value 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

Fisher & Paykel Healthcare is poor value based on expected growth next year.


Price Based on Value of Assets

Fisher & Paykel Healthcare is overvalued based on assets compared to the Oceania Medical Equipment industry average.


Next Steps

Future Growth

How is Fisher & Paykel Healthcare expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

12.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Fisher & Paykel Healthcare's revenue is expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).

Fisher & Paykel Healthcare's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).

Fisher & Paykel Healthcare's revenue growth is expected to exceed the New Zealand market average.

Fisher & Paykel Healthcare's earnings growth is expected to exceed the New Zealand market average.

Fisher & Paykel Healthcare's earnings growth is expected to exceed the low risk savings rate of 2.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Fisher & Paykel Healthcare is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

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

15.9%

Historical annual earnings growth


Earnings and Revenue History


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 is less than its 5-year average (10% vs 15.9%)

Fisher & Paykel Healthcare's earnings growth has not exceeded the Oceania Medical Equipment industry average in the past year (10% vs 37.4%).


Return on Equity

Fisher & Paykel Healthcare has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

Fisher & Paykel Healthcare used its assets more efficiently than the Oceania Medical Equipment industry average last year based on Return on Assets.


Return on Capital Employed

Fisher & Paykel Healthcare's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Fisher & Paykel Healthcare's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

Fisher & Paykel Healthcare's level of debt (9.5%) 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 (27.7% vs 9.5% today).

Debt is well covered by operating cash flow (291.8%, greater than 20% of total debt).

Fisher & Paykel Healthcare earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 5.2x debt.


Next Steps

Dividend

What is Fisher & Paykel Healthcare's current dividend yield, its reliability and sustainability?

2.10%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Fisher & Paykel Healthcare's pays a lower dividend yield than the bottom 25% of dividend payers in New Zealand (3.23%).

Fisher & Paykel Healthcare's dividend is below the markets top 25% of dividend payers in New Zealand (5.91%).

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.


Current Payout to Shareholders

No need to calculate the sustainability of Fisher & Paykel Healthcare's dividends as it is not paying a notable one for New Zealand.


Future Payout to Shareholders

No need to calculate the sustainability of Fisher & Paykel Healthcare's dividends in 3 years as they are not expected to pay a notable one for New Zealand.


Next Steps

Management

What is the CEO of Fisher & Paykel Healthcare's salary, the management and board of directors tenure and is there insider trading?

3.0yrs

Average management tenure


CEO

Lewis Gradon (58yo)

3.3yrs

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

Insufficient data for Lewis to establish whether their remuneration is reasonable compared to companies of similar size in .

Lewis's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.0yrs

Average Tenure

The tenure for the Fisher & Paykel Healthcare management team is about average.


Board Age and Tenure

4.9yrs

Average Tenure

60yo

Average Age

The tenure for the Fisher & Paykel Healthcare board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyNZ$241,33127 Sep 18
Lewis Gradon
EntityIndividual
Role
Chief Executive Officer
MD, CEO & Executive Director
Shares15,825
Max PriceNZ$15.25
SellNZ$271,52327 Sep 18
Lewis Gradon
EntityIndividual
Role
Chief Executive Officer
MD, CEO & Executive Director
Shares18,000
Max PriceNZ$15.08

Ownership Breakdown


Management Team

  • Lewis Gradon (58yo)

    MD, CEO & Executive Director

    • Tenure: 3.3yrs
    • Compensation: NZ$2.68m
  • Paul Shearer

    Senior Vice President of Sales & Marketing

    • Tenure: 17.8yrs
  • Marcus Driller

    Vice President of Corporate

    • Tenure: 0.0yrs
  • Andrew Somervell

    Vice President of Products & Technology

    • Tenure: 3.3yrs
  • Debra Lumsden

    VP of Human Resources & Privacy Officer

    • Tenure: 2.7yrs
  • Rachel Reynolds

    Senior Communications Manager

    • Tenure: 0.0yrs
  • Lyndal York

    Chief Financial Officer

    • Tenure: 0.4yrs
  • Andrea Blackie

    General Manager of Finance

    • Tenure: 0.4yrs
  • Hayden Brown

    Investor Relations Manager

    • Tenure: 0.0yrs

Board Members

  • Lewis Gradon (58yo)

    MD, CEO & Executive Director

    • Tenure: 3.3yrs
    • Compensation: NZ$2.68m
  • Mike Daniell (61yo)

    Non-Executive Director

    • Tenure: 17.8yrs
    • Compensation: NZ$115.70k
  • Donal O’Dwyer (66yo)

    Independent Non-Executive Director

    • Tenure: 6.7yrs
    • Compensation: NZ$157.16k
  • Neville Mitchell (59yo)

    Independent Non-Executive Director

    • Tenure: 0.8yrs
    • Compensation: NZ$52.70k
  • Scott St John

    Independent Non-Executive Director

    • Tenure: 3.8yrs
    • Compensation: NZ$143.80k
  • Geraldine McBride (58yo)

    Independent Non Executive Director

    • Tenure: 6.0yrs
    • Compensation: NZ$98.85k
  • Tony Carter (61yo)

    Board Chair

    • Tenure: 7.3yrs
    • Compensation: NZ$224.70k
  • Pip Greenwood

    Non-Executive Director

    • Tenure: 2.2yrs
    • Compensation: NZ$121.30k

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$9.148b
  • Shares outstanding: 573.93m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSPK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
FPHNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDJan 1992
FPHASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 1992
FPHCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJan 1992
FSPK.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDOct 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 respirator ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/21 10:32
End of Day Share Price2019/08/21 00:00
Earnings2019/03/31
Annual Earnings2019/03/31


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.