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MEDNAX

NYSE:MD
Snowflake Description

Undervalued with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MD
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Healthcare
Company description

MEDNAX, Inc., together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. The last earnings update was 68 days ago. More info.


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  • MEDNAX has significant price volatility in the past 3 months.
MD Share Price and Events
7 Day Returns
-4.1%
NYSE:MD
-3%
US Healthcare
-0.8%
US Market
1 Year Returns
-50%
NYSE:MD
-5.1%
US Healthcare
7%
US Market
MD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MEDNAX (MD) -4.1% -11.6% -29.6% -50% -64.5% -56.7%
US Healthcare -3% -7.7% -11.8% -5.1% 10.9% 60.2%
US Market -0.8% 2.7% 7.5% 7% 37.9% 47%
1 Year Return vs Industry and Market
  • MD underperformed the Healthcare industry which returned -5.1% over the past year.
  • MD underperformed the Market in United States of America which returned 7% over the past year.
Price Volatility
MD
Industry
5yr Volatility vs Market

Value

 Is MEDNAX undervalued based on future cash flows and its price relative to the stock market?

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 MEDNAX 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MEDNAX.

NYSE:MD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.712 (1 + (1- 21%) (89.21%))
1.143
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.143 * 5.96%)
9.54%

Discounted Cash Flow Calculation for NYSE:MD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MEDNAX is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.54%)
2019 373.06 Analyst x7 340.56
2020 363.70 Analyst x6 303.09
2021 396.50 Analyst x2 301.64
2022 423.72 Est @ 6.86% 294.26
2023 447.54 Est @ 5.62% 283.74
2024 468.83 Est @ 4.76% 271.34
2025 488.27 Est @ 4.15% 257.97
2026 506.45 Est @ 3.72% 244.27
2027 523.80 Est @ 3.42% 230.62
2028 540.64 Est @ 3.22% 217.30
Present value of next 10 years cash flows $2,744.79
NYSE:MD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $540.64 × (1 + 2.73%) ÷ (9.54% – 2.73%)
$8,152.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,152.18 ÷ (1 + 9.54%)10
$3,276.65
NYSE:MD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,744.79 + $3,276.65
$6,021.44
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,021.44 / 86.56
$69.57
NYSE:MD Discount to Share Price
Calculation Result
Value per share (USD) From above. $69.57
Current discount Discount to share price of $25.57
= -1 x ($25.57 - $69.57) / $69.57
63.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price MEDNAX is available for.
Intrinsic value
>50%
Share price is $25.57 vs Future cash flow value of $69.57
Current Discount Checks
For MEDNAX to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MEDNAX's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MEDNAX's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 MEDNAX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MEDNAX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.95
NYSE:MD Share Price ** NYSE (2019-04-22) in USD $25.57
United States of America Healthcare Industry PE Ratio Median Figure of 53 Publicly-Listed Healthcare Companies 20.9x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MEDNAX.

NYSE:MD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MD Share Price ÷ EPS (both in USD)

= 25.57 ÷ 2.95

8.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MEDNAX is good value based on earnings compared to the US Healthcare industry average.
  • MEDNAX is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does MEDNAX's expected growth come at a high price?
Raw Data
NYSE:MD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
-1.6%per year
United States of America Healthcare Industry PEG Ratio Median Figure of 40 Publicly-Listed Healthcare Companies 1.48x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:MD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.67x ÷ -1.6%

-5.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MEDNAX earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on MEDNAX's assets?
Raw Data
NYSE:MD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $35.69
NYSE:MD Share Price * NYSE (2019-04-22) in USD $25.57
United States of America Healthcare Industry PB Ratio Median Figure of 92 Publicly-Listed Healthcare Companies 2.33x
United States of America Market PB Ratio Median Figure of 5,186 Publicly-Listed Companies 1.91x
NYSE:MD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MD Share Price ÷ Book Value per Share (both in USD)

= 25.57 ÷ 35.69

0.72x

* Primary Listing of MEDNAX.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MEDNAX is good value based on assets compared to the US Healthcare industry average.
X
Value checks
We assess MEDNAX's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. MEDNAX has a total score of 5/6, 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.

Future Performance

 How is MEDNAX expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

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!
Annual Growth Rate
-1.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MEDNAX expected to grow at an attractive rate?
  • MEDNAX's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • MEDNAX's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • MEDNAX's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MD Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts -1.6%
NYSE:MD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 3.4%
United States of America Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 13.2%
United States of America Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*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
Raw Data
NYSE:MD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,035 419 249 5
2020-12-31 3,889 391 260 15
2019-12-31 3,729 364 236 15
NYSE:MD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,647 290 269
2018-09-30 3,625 358 345
2018-06-30 3,598 417 345
2018-03-31 3,525 420 329
2017-12-31 3,458 511 320
2017-09-30 3,378 447 262
2017-06-30 3,337 443 293
2017-03-31 3,266 455 312
2016-12-31 3,183 444 325
2016-09-30 3,094 417 340
2016-06-30 2,988 393 334
2016-03-31 2,893 389 336

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MEDNAX's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • MEDNAX's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from MEDNAX Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.19 3.63 2.61 4.00
2020-12-31 3.04 3.80 2.63 13.00
2019-12-31 2.71 2.89 2.51 13.00
NYSE:MD Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.95
2018-09-30 3.73
2018-06-30 3.72
2018-03-31 3.56
2017-12-31 3.47
2017-09-30 2.84
2017-06-30 3.17
2017-03-31 3.37
2016-12-31 3.52
2016-09-30 3.67
2016-06-30 3.61
2016-03-31 3.62

*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.
  • MEDNAX is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MEDNAX's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MEDNAX has a total score of 0/6, 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.

Past Performance

  How has MEDNAX 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
Below we compare MEDNAX's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MEDNAX's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • MEDNAX's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • MEDNAX's 1-year earnings growth is negative, it can't be compared to the US Healthcare industry average.
Earnings and Revenue History
MEDNAX's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MEDNAX Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,647.12 268.63 475.28
2018-09-30 3,625.25 344.52 471.08
2018-06-30 3,597.55 344.82 469.61
2018-03-31 3,524.57 329.11 464.72
2017-12-31 3,458.31 320.37 459.71
2017-09-30 3,378.26 262.35 443.26
2017-06-30 3,337.32 292.98 435.29
2017-03-31 3,266.13 311.71 424.39
2016-12-31 3,183.16 324.91 410.57
2016-09-30 3,094.13 339.54 392.52
2016-06-30 2,988.40 333.81 379.24
2016-03-31 2,893.23 335.51 359.53
2015-12-31 2,780.00 336.32 337.52
2015-09-30 2,688.78 332.02 315.96
2015-06-30 2,593.01 327.44 296.42
2015-03-31 2,511.97 322.33 284.85
2014-12-31 2,438.91 317.28 275.33
2014-09-30 2,355.78 307.86 261.92
2014-06-30 2,284.00 298.61 255.93
2014-03-31 2,217.64 288.81 249.71
2013-12-31 2,154.01 280.52 244.61
2013-09-30 2,057.96 267.65 236.74
2013-06-30 1,976.36 256.60 230.29
2013-03-31 1,896.71 247.92 223.89
2012-12-31 1,816.61 240.91 217.44
2012-09-30 1,750.18 233.16 206.92
2012-06-30 1,684.71 225.49 201.73

*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.
  • MEDNAX has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MEDNAX used its assets less efficiently than the US Healthcare industry average last year based on Return on Assets.
  • MEDNAX's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MEDNAX's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MEDNAX has a total score of 1/6, 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.

Health

 How is MEDNAX'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 MEDNAX's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MEDNAX is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MEDNAX's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MEDNAX's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.3x 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.
Raw Data

All data from MEDNAX Company Filings, last reported 3 months ago.

NYSE:MD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,087.88 1,974.53 58.67
2018-09-30 3,015.31 2,006.49 48.43
2018-06-30 3,186.92 1,891.97 47.96
2018-03-31 3,143.49 1,966.40 51.78
2017-12-31 3,066.45 1,852.82 70.49
2017-09-30 2,916.57 1,826.46 59.38
2017-06-30 2,838.25 1,773.17 51.58
2017-03-31 2,762.47 1,902.35 52.98
2016-12-31 2,760.77 1,705.68 66.98
2016-09-30 2,667.34 1,788.80 63.29
2016-06-30 2,558.05 1,439.45 62.48
2016-03-31 2,460.60 1,442.70 64.28
2015-12-31 2,437.85 1,274.70 60.43
2015-09-30 2,333.74 1,362.29 68.94
2015-06-30 2,220.30 1,296.90 70.43
2015-03-31 2,114.06 897.16 56.99
2014-12-31 2,265.57 568.77 53.96
2014-09-30 2,505.11 288.50 79.10
2014-06-30 2,404.78 178.69 25.28
2014-03-31 2,307.08 248.21 27.50
2013-12-31 2,342.99 27.24 37.59
2013-09-30 2,234.09 123.76 21.16
2013-06-30 2,193.15 154.08 20.17
2013-03-31 2,105.76 184.30 39.96
2012-12-31 2,035.37 144.33 27.86
2012-09-30 1,949.11 48.35 71.89
2012-06-30 1,870.11 0.38 15.46
  • MEDNAX's level of debt (63.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.3% vs 63.9% today).
  • Debt is not well covered by operating cash flow (14.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
X
Financial health checks
We assess MEDNAX's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MEDNAX has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is MEDNAX'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
Dividend payments
0%
Current annual income from MEDNAX dividends. Estimated to be 0% next year.
If you bought $2,000 of MEDNAX shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate MEDNAX's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate MEDNAX's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
NYSE:MD Annualized Past and Future Dividends
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 15 Analyst Estimates (S&P Global) See Below
United States of America Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 3.00
2020-12-31 0.00 4.00
2019-12-31 0.00 4.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as MEDNAX has not reported any payouts.
  • Unable to verify if MEDNAX's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of MEDNAX's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as MEDNAX has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of MEDNAX's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess MEDNAX's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MEDNAX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MEDNAX has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of MEDNAX's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Roger Medel
COMPENSATION $9,938,017
AGE 71
TENURE AS CEO 16.1 years
CEO Bio

Dr. Roger J. Medel, M.D., Co-Founded at MEDNAX, Inc. (also known as Pediatrix Medical Group Inc.) in 1979. Dr. Medel served as the MEDNAX, Inc.’s President until May 2000 and as Chief Executive Officer until December 2002. In March 2003, Dr. Medel reassumed the position of President, serving in that position until May 2004, and Chief Executive Officer, a position in which he continues to serve today. Dr. Medel served as the Chairman of MEDNAX, Inc. He has been a Director of MEDNAX, Inc. since 1979. Dr. Medel has served as a member of the Board of Trustees of the Dana Farber Cancer Institute, Inc. since January 2016. Dr. Medel has been an Instructor in Pediatrics at the University of Miami. Dr. Medel was a member of the Board of Trustees of the University of Miami from January 2004 to February 2012. He is employed at MBF Healthcare Partners, L.P. He also serves as a Member of the Board of Directors of Simply Healthcare Plans, Care Plus Inc. and previously was a Member of the Board of Directors of Sechrist Industries Inc., MBF Healthcare Acquisition Corp., CarePlus Health Plans, Inc., Sechrist Industries Inc., and ARC Broward Inc. He holds an M.D. He also holds a Masters Degree in Business Administration from the University of Miami.

CEO Compensation
  • Roger's compensation has increased by more than 20% in the past year.
  • Roger's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the MEDNAX management team in years:

2.9
Average Tenure
53
Average Age
  • The tenure for the MEDNAX management team is about average.
Management Team

Roger Medel

TITLE
Co-Founder
COMPENSATION
$10M
AGE
71
TENURE
16.1 yrs

Joe Calabro

TITLE
President
COMPENSATION
$6M
AGE
57
TENURE
14.9 yrs

Steve Farber

TITLE
Executive VP & CFO
COMPENSATION
$6M
AGE
48
TENURE
0.4 yrs

David Clark

TITLE
Chief Operating Officer
COMPENSATION
$4M
AGE
51
TENURE
0.2 yrs

Dominic Andreano

TITLE
Senior VP
COMPENSATION
$2M
AGE
49
TENURE
6.9 yrs

John Pepia

TITLE
Senior VP & Chief Accounting Officer
AGE
55
TENURE
2.9 yrs

Tony Ambegaoker

TITLE
Corporate Chief Information Officer
TENURE
2.3 yrs

Charles Lynch

TITLE
Vice President of Strategy & Investor Relations

Mary Ann Moore

TITLE
Chief Compliance Officer
TENURE
0.3 yrs

James Swift

TITLE
Chief Development Officer
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the MEDNAX board of directors in years:

14.9
Average Tenure
65
Average Age
  • The average tenure for the MEDNAX board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Cesar Alvarez

TITLE
Chairman of the Board
COMPENSATION
$250K
AGE
70
TENURE
14.9 yrs

Roger Medel

TITLE
Co-Founder
COMPENSATION
$10M
AGE
71
TENURE
40.3 yrs

Waldemar Carlo

TITLE
Director
COMPENSATION
$210K
AGE
65
TENURE
19.8 yrs

Paul Gabos

TITLE
Director
COMPENSATION
$220K
AGE
52
TENURE
16.4 yrs

Manuel Kadre

TITLE
Lead Independent Director
COMPENSATION
$235K
AGE
52
TENURE
5.1 yrs

Mike Fernandez

TITLE
Director
COMPENSATION
$200K
AGE
65
TENURE
23.5 yrs

Enrique Sosa

TITLE
Director
COMPENSATION
$200K
AGE
78
TENURE
14.9 yrs

Pascal Goldschmidt

TITLE
Director
COMPENSATION
$210K
AGE
63
TENURE
13.1 yrs

Karey Barker

TITLE
Director
COMPENSATION
$200K
AGE
50
TENURE
3.9 yrs
Who owns this company?
Recent Insider Trading
  • MEDNAX insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
15. Mar 19 Sell Pascal Goldschmidt Individual 13. Mar 19 13. Mar 19 -3,300 $30.40 $-100,331
20. Sep 18 Sell Elliott Management Corporation Company 02. Aug 18 20. Sep 18 -859,000 $48.57 $-40,630,809
13. Jun 18 Sell John Pepia Individual 12. Jun 18 12. Jun 18 -6,516 $46.56 $-303,374
13. Jun 18 Sell Vivian Lopez-Blanco Individual 12. Jun 18 12. Jun 18 -13,942 $46.46 $-647,775
13. Jun 18 Sell Dominic Andreano Individual 11. Jun 18 11. Jun 18 -18,000 $46.95 $-845,059
01. Jun 18 Sell Joseph Calabro Individual 01. Jun 18 01. Jun 18 -22,186 $45.20 $-1,002,738
X
Management checks
We assess MEDNAX's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MEDNAX 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.

News

Simply Wall St News

The MEDNAX (NYSE:MD) Share Price Is Down 60% So Some Shareholders Are Wishing They Sold

So they might be feeling emotional about the 60% share price collapse, in that time. … Shareholders have had an even rougher run lately, with the share price down 24% in the last 90 days. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance.

Simply Wall St -

Read This Before You Buy MEDNAX, Inc. (NYSE:MD) Because Of Its P/E Ratio

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … To keep it practical, we'll show how MEDNAX, Inc.'s (NYSE:MD) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Are Insiders Selling MEDNAX, Inc. (NYSE:MD) Stock?

So shareholders might well want to know whether insiders have been buying or selling shares in MEDNAX, Inc. … The Last 12 Months Of Insider Transactions At MEDNAX. … Over the last year we saw more insider selling of MEDNAX shares, than buying

Simply Wall St -

Is MEDNAX, Inc. (NYSE:MD) A Financially Sound Company?

Today we will look at MD’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … MD’s Debt (And Cash Flows)

Simply Wall St -

What Do Analysts Think About MEDNAX, Inc.'s (NYSE:MD) Growth?

(NYSE:MD) released its latest earnings announcement on 31 December 2018, … with earnings expected to decline by -12% in the upcoming year

Simply Wall St -

What Should We Expect From MEDNAX, Inc.'s (NYSE:MD) Earnings Over The Next Few Years?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … (NYSE:MD) announced its most recent earnings update, which

Simply Wall St -

Why MEDNAX, Inc.’s (NYSE:MD) Return On Capital Employed Looks Uninspiring

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Investors Are Undervaluing MEDNAX, Inc. (NYSE:MD) By 43.37%

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

MEDNAX, Inc. (NYSE:MD): Exploring Free Cash Flows

What is left after investment, determines the value of the stock since this cash flow technically belongs to investors of the company. … MEDNAX generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … I will be analysing MEDNAX’s FCF by looking at its FCF yield and its operating cash flow growth.

Simply Wall St -

Is MEDNAX, Inc.'s (NYSE:MD) CEO Overpaid Relative To Its Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Roger Medel's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$2.9b, and pays its CEO total annual compensation worth US$7.4m.

Simply Wall St -

Company Info

Description

MEDNAX, Inc., together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care services; and acute and chronic pain management services. The company also provides maternal-fetal care services, including inpatient and office-based clinical care to expectant mothers and their unborn babies through affiliated maternal-fetal medicine subspecialists, as well as obstetricians and other clinicians. In addition, it offers pediatric cardiology care services comprising inpatient and office-based pediatric cardiology care of the fetus, infant, child, and adolescent patient with congenital heart defects and acquired heart disease, as well as adults with congenital heart defects through affiliated pediatric cardiologist subspecialists and other related clinical professionals. Further, the company provides other pediatric subspecialty care services through pediatric subspecialists, such as pediatric intensivists, pediatric hospitalists, and pediatric surgeons, as well as pediatric ear, nose, and throat physicians; and support services in the areas of hospitals, primarily in the pediatric emergency rooms, labor and delivery areas, and nursery and pediatric departments. As of December 31, 2018, it had a network of approximately 4,210 affiliated physicians. The company was founded in 1979 and is based in Sunrise, Florida.

Details
Name: MEDNAX, Inc.
MD
Exchange: NYSE
Founded: 1979
$2,213,291,511
86,558,135
Website: http://www.mednax.com
Address: MEDNAX, Inc.
1301 Concord Terrace,
Sunrise,
Florida, 33323,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MD Common Stock New York Stock Exchange US USD 20. Sep 1995
DB PDC Common Stock Deutsche Boerse AG DE EUR 20. Sep 1995
BMV MD * Common Stock Bolsa Mexicana de Valores MX MXN 20. Sep 1995
Number of employees
Current staff
Staff numbers
11,875
MEDNAX employees.
Industry
Health Care Services
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 00:22
End of day share price update: 2019/04/22 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.