FPH - Fisher & Paykel Healthcare Corporation

[peter2]

P/E Ratio 29.80

Posted back in Dec 2014 when the price was $6.00.

This one kills me. Remember looking sub $9 thinking “mmm little expensive”.

I looked too. Hard sometimes.

LOL! Me too, never got over feeling it was too pricey.

posted when price was $20

Does P/E really mean anything these days?

Ps: Sorry if I've dredged up any misgivings about not buying when price was much lower. We've all got to stick to our methods and that means we'll always miss heaps.

 

[rnr]

Posted back in Dec 2014 when the price was $6.00.





posted when price was $20

Does P/E really mean anything these days?

Ps: Sorry if I've dredged up any misgivings about not buying when price was much lower. We've all got to stick to our methods and that means we'll always miss heaps.

FPH would seem to be forming the last leg of an A - B - C correction wave which could well terminate around support at the $28.50 mark.

Well, that's just my take on the attached chart.

Cheers, Rob

 

[Trav.]

Some good news for FPH - up +7% early in the session

 

[divs4ever]

Fisher & Paykel Healthcare announces strong results for the 2022 financial year

Auckland, New Zealand, 25 May 2022 – Fisher & Paykel Healthcare Corporation Limited today
announced its results for the full year ended 31 March 2022.
Managing Director and CEO Lewis Gradon said, “Over the last two financial years we have supplied
$880 million of hospital hardware, the equivalent of approximately 10 years’ hardware sales prior to
COVID-19. The growing body of evidence supporting the use of nasal high flow and our other
respiratory therapies shows that our products have a clear role to play in improving care and
outcomes beyond COVID-19 patients. We have a proven fifty-year track record of changing clinical
practice and now we have the additional benefit of customers already having our hardware and
clinical experience with its use.”
Following an unprecedented 2021 financial year, the company’s performance was once again
strong, with operating revenue 33% above the pre-COVID-19 2020 financial year. Total operating
revenue for the 2022 financial year was $1.68 billion, down 15% or 14% in constant currency. Net
profit after tax was $376.9 million, a 28% decline from the previous financial year, or a 30% decline
in constant currency.
New product announcements
“During the 2022 financial year, we invested $154 million into research and development and we
brought a number of exciting new products to the market.
“Today, we announced the launch of Optiflow Switch™ and Optiflow Trace™ nasal high flow
interfaces, two new products that allow easier use of our Optiflow therapy in anesthesia. We have
accelerated our investment in a specialist sales force to take advantage of this opportunity, and we
plan to continue investing in this area in the coming years,” said Mr Gradon.
The company also announced the launch of its revolutionary new Airvo™ 3 device, which is
designed to faciliate high flow therapy for more patients in more areas of the hospital. The Airvo 3
incorporates the company’s OptiO2™ closed-loop system for targeted oxygen delivery and an
integrated battery to enable therapy while a patient moves through different areas of the hospital.
Further detail on these new product launches is available in the two separate news releases which
are attached to this announcement.
Dividend and employee profit share
The company’s directors have approved an increased final dividend of 22.5 cents per share. This
brings the total dividend for the year to 39.5 cents per share, an increase of 4%. The final dividend,
carrying full New Zealand imputation credit, will be paid on 6 July 2022 with a record date of 23 June
2022.
To acknowledge the people of Fisher & Paykel Healthcare, directors also approved a profit-sharing
payment totalling $19 million for the 2022 financial year to be paid to employees who have worked
for the company for a qualifying period.
Commentary on financial results
In the Hospital product group, which includes humidification products used in respiratory, acute and
surgical care, revenue was $1.21 billion, a decline of 19% from the 2021 financial year in both
reported and constant currency. New applications consumables revenue grew 3% in constant
currency. Of total Hospital product group revenue, 27% was from the sale of hardware and 73% was
from the sale of consumables.
In the Homecare product group, which includes products used in the treatment of obstructive sleep
apnea (OSA) and respiratory support in the home, revenue was $469.5 million, a 1% increase over
the previous financial year, or 2% in constant currency. OSA mask revenue grew a pleasing 6% in
the second half of FY22 in constant currency, in an environment of suppressed new OSA patient
diagnoses due to COVID-19 and the limited supply of treatment hardware.
Gross margin decreased by 59 basis points for the year to 62.6%, or a 147 basis points decline in
constant currency compared to the 2021 financial year. High air-freight utilisation and elevated freight
rates continued to weigh overall compared to pre-COVID-19 rates, impacting constant currency gross
margin by approximately 240 basis points.
Looking forward
“In our Homecare product group, our EvoraTM Full mask for OSA launched in the United States in
May 2022. The Evora Full has been one of the most positive new mask launches we have ever
experienced, based on customer feedback and initial sales performance to date in the regions
where it is available. New OSA patient diagnoses rates and the availability of treatment hardware
are also likely to impact our Homecare product group results in the 2023 financial year,” said Mr
Gradon.
“For our Hospital product group, over the last two financial years, we have supplied an extraordinary
$880 million worth of hospital hardware. COVID-19 may have peaked in many parts of the world for
the time being, and many countries have boosted their hospital treatment capacity. As a result, we
do not expect hospital hardware revenue for the 2023 financial year to continue at FY22 levels.
“For FY22, we estimate that the average utilisation of our hospital hardware across the therapy
options was approximately 60% to 70% of a pre-COVID-19 midpoint. We expect that over time,
clinicians will utilise the incremental installed base with an increasing proportion of respiratorycompromised patients in general. The increasing clinical data and recently-published clinical
practice guidelines that have emerged independently of COVID-19 will be instrumental in supporting
this change.
“We are excited by the opportunity to change clinical practice and play our part in improving
outcomes for patients globally. If the change in clinical practice occurs over a three- to five-year
time-frame, it would drive strong growth in hospital consumable sales over this period.
“During the second half of the 2022 financial year, there was a sharp peak for our hospital
consumables sales in December, followed by a low in February. Hospital consumables subsequent
trading to date is exhibiting a slow recovery from February.
“Given the ongoing uncertainties regarding our customers’ stockholding choices and their capacity
to implement new protocols with personnel shortages and the possibility of further surges of COVID19 over the near term, we are not currently providing quantitative revenue or earnings guidance for
the 2023 financial year.
“For gross margin, freight costs are likely to remain elevated, and air-freight a higher proportion of
freight than pre-COVID-19. We are continuing to advance our manufacturing capacity and facilities
projects, and we also expect to hold higher levels of inventory to help address global supply chain
challenges. If freight rates remain at current levels, then we would expect constant currency gross
margin in the 2023 financial year to be in line with the 2022 financial year.
“We expect to continue growing our investment in R&D and SG&A, as longer-term projects are
accelerated and we grow our sales teams to support the installed base of hospital hardware and
deliver on the opportunity in anesthesia.
“To ensure we are well-positioned to meet demand for the ongoing use of our installed base of
hardware and accommodate our strong new product pipeline, we are continuing to invest in our
infrastructure. We expect to invest approximately $700 million in land and buildings over
approximately five years.
“The last several years have been remarkable for our company. Above all, we showed our
customers they can rely on Fisher & Paykel Healthcare and that we’re doing all we can to create the
best-possible outcomes for patients. We want to thank our customers, suppliers, clinical partners
and employees for their support. We look forward to what’s in store for the years ahead,” concluded
Mr Gradon.
Overview of key results for the 2022 financial year
• 28% decline in net profit after tax to $376.9 million, 30% decline in constant currency.
• 15% decline in operating revenue to $1.68 billion, 14% decline in constant currency.
• 19% decline in Hospital operating revenue to $1.21 billion, 19% decline in constant currency.
• 3% constant currency revenue growth for new applications consumables; i.e. products used in
noninvasive ventilation, Optiflow nasal high flow therapy and surgical applications, accounting for
71% of Hospital consumables revenue.
• 1% growth in Homecare operating revenue, 2% growth in constant currency.
• Investment in R&D was 9% of revenue, or $154 million.
• 2% increase in final dividend to 22.5 cps (2021: 22.0 cps).
• 4% increase in total dividends for the financial year to 39.5 cps (2021: 38.0 cps).
About Fisher & Paykel Healthcare
Fisher & Paykel Healthcare is a leading designer, manufacturer and marketer of products and
systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep
apnea. The company’s products are sold in over 120 countries worldwide. For more information
about the company, visit our website www.fphcare.com.


====================================================================================


i do not hold this share , BUT if the market takes this badly , just maybe i will buy a few

 

[divs4ever]

Fisher & Paykel Healthcare provides FY23 revenue guidance
Auckland, New Zealand, 20 January 2023 - Fisher & Paykel Healthcare Corporation Limited today
provided revenue guidance for the financial year ending 31 March 2023.
At current exchange rates, the company expects full year operating revenue for the 2023 financial
year to be within the range of approximately $1.55 billion to $1.60 billion.
Managing Director and Chief Executive Officer Lewis Gradon said, “Consistent with what we
experienced during COVID-19 surges over the last few years, we are seeing increased sales of our
Hospital hardware and consumables in China as the country manages its current wave of the virus.
“An early start to the flu season and the prevalence of respiratory syncytial virus (RSV) also fueled
demand for our Hospital consumables in North America during the final months of 2022, though
this now appears to be easing.
“On a global basis, our Hospital hardware revenue continues to exceed pre-pandemic levels as we
respond to COVID-19 surges. For the second half of this financial year, we currently estimate the
relative proportion of our Hospital sales between hardware and consumables will be similar to the
first half.
“In our Homecare product group, sales of our OSA masks have remained strong. Our mask sales
growth rate is currently tracking above that of our first half as global supply of CPAP hardware
improves and our Evora Full continues to perform well.
“Our rapid response to recent demand surges in both China and North America includes both
positive and negative short-term impacts to our gross margin. While these impacts are ongoing, we
currently believe they are unlikely to materially change the second half constant currency gross
margin guidance that we provided in November 2022.
“We also do not currently expect any material impact on our full year constant currency operating
expense growth target that we guided to in November.”
Current exchange rates used are NZD:USD 0.63 and NZD:EUR 0.59, compared to exchange rates
of NZD:USD 0.58 and NZD:EUR 0.58 as referred to at the time of the November 2022 half year
result.
“We would like to acknowledge the ongoing efforts of our customers, clinical partners, suppliers
and our teams at F&P for their ongoing effort in responding to these surges,” concluded Mr
Gradon.
About Fisher & Paykel Healthcare
Fisher & Paykel Healthcare is a leading designer, manufacturer and marketer of products and
systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive
sleep apnea. The company’s products are sold in over 120 countries worldwide. For more
information about the company, visit our website www.fphcare.com.

DYOR

i do not hold this share

 

[Dona Ferentes]

Midyear, FPH came out with a so-so results, lower revenue, lower margins , and the market knocked it down a bit.

.

Still an $11B company. Recently, the sp slide has continued, possibly due to operating in sleep apnea field, with their Evora device , but their focus on hospital devices has helped ...though it hasn't been hit as hard as Resmed (weight loss drugs impacting uptake?)

 

[peter2]

FPH also profited handsomely during the covid period as they supplied their humidified gases to hospitals. Sales have fallen to more normal levels as the covid crisis eases. Similar falls in revenue have been seen in the diagnostic companies (SHL, HLS).

 

[divs4ever]

FPH also profited handsomely during the covid period as they supplied their humidified gases to hospitals. Sales have fallen to more normal levels as the covid crisis eases. Similar falls in revenue have been seen in the diagnostic companies (SHL, HLS).

hmmm might be time to revisit this , i preferred other companies ( like PME ) early in my investing adventure , maybe this is suitable for a 'bottom-drawer ' stock , now it has diversified from sleep therapies

 

[bux2000]

Looks as though they are certainly planning to expand there future operations.

Fisher & Paykel Healthcare enters agreement to purchase land for a second New Zealand campus

Fisher & Paykel Healthcare Corporation Limited announced today it has entered into a sale and purchase agreement, conditional on Overseas Investment Office (OIO) approval, to acquire a 105 hectare site in Karaka, Auckland for $275 million.

www.fphcare.com

bux

 

[Dona Ferentes]

doing well. No mention of Ozempic factor. Has been holding over $20
.
Fisher & Paykel Healthcare has reported increasing revenue and profit in its first half of 2024 as the respirator manufacturer re-adjusts to a pre-COVID-19 trading environment.

For the six months ended September 30, 2023, total operating revenue was $NZ803.7 million ($741.48 million), a 16 per cent increase on last year’s half. Net profit after tax for the first half was $NZ107.3 million, a 12 per cent increase.

CEO Lewis Gradon said headwinds such as freight rates and manufacturing inefficiencies had continued to ease, while inflationary raw material and manufacturing costs remained a key focus.

“Apparent growth rates this financial year will be impacted by COVID-19 effects throughout last year,” said Gradon.

Looking ahead, the company expects operating revenue for the 2024 financial year to be approximately $NZ1.7 billion and net profit after tax to be between $NZ250 million and $NZ260 million

 

[Dona Ferentes]

now $22.45

updated revenue and earnings guidance for FY ending 31 March 2024.
The full year guidance previously provided on 29 November 2023, based on a NZ:US exchange rate of 58 cents, was for operating revenue to be approximately $1.7 billion and net profit after tax to be in the range of approximately $250 million to $260 million.
Now, assuming a NZ:US exchange rate of approximately 61 cents for the balance of the financial year, the company expects full year operating revenue to be approximately $1.73 billion and underlying profit after tax (excluding any fair value changes) to be in the range of approximately $260 million to $265 million.

“In the Hospital product group, there has been a continuation of solid demand for our hospital consumables across the product portfolio throughout the second half, which is towards the upper end of our expectations from November,”
“In OSA masks, we have continued to see strong performance from our Evora Full mask. We have received positive feedback on our revolutionary F&P Solo mask after the recent release in early markets, and we look forward to its introduction in more countries in the coming months.”
- Lewis Gradon, Managing Director and CEO

 

[Dona Ferentes]

and full FY24 results out. As high as $27.50 and up 6 per cent to a post Covid high. Dividend of 23.5c. A $15 billion market cap company.


.
Total operating revenue for the 2024 financial year was $1.74 billion, an increase of 10% over the previous financial year, or 8% in constant currency. Growth was driven by solid demand in hospital consumables and strong growth in the obstructive sleep apnea mask business.

Reported net profit after tax for the financial year of $132.6 million was impacted by three abnormal items ... Excluding these items, underlying net profit after tax was $264.4 million, a 6% increase over the previous financial year, or 5% in constant currency.

Managing Director and CEO Lewis Gradon said, “After several years of changing demand patterns, we are pleased to have returned to a trajectory of growth. All the right foundations are in place for future success – we have an impressive portfolio of products, strong relationships with our customers and the right infrastructure to meet our future needs."

For the Hospital product group, which includes humidification products used in respiratory, acute and surgical care, revenue for the full year was $1.1 billion, up 6% from the previous financial year, or 5% in constant currency. New applications consumables were up 15% over the previous financial year, or 13% in constant currency. Consumables sales returned to normal, pre-pandemic patterns.

For the Homecare product group, which includes products used in the treatment of obstructive sleep apnea and respiratory support in the home, revenue for the full year was $652.3 million, up 18% over the previous financial year, or 16% in constant currency. Growth was driven by the continued success of the F&P EvoraTM Full mask in both North America and Europe.

During the 2024 financial year, the company made progress in returning to its long-term gross margin target of 65%. Excluding the provision for a product recall, underlying gross margin was 61.1%, an increase of 216 basis points in constant currency over the previous financial year. This was achieved through lower freight costs, manufacturing efficiencies and pricing, which more than offset the impact of inflationary cost increases. Including the provision for a product recall, gross margin was 59.9% for the 2024 financial year, an increase of 95 basis points in constant currency.

 

[Dona Ferentes]

with sleep apnoea products - the Homecare division - only about 30 per cent of revenue, FPH has fared better than Resmed, which has seen two dips in the past 12 months when news on GLP-1 agonists has impacted the market.

(vol is RMD)