Financials Ryman Healthcare Limited

Equities

End-of-day quote New Zealand S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4.15 ^NZD	-2.58%		-5.68%	-29.66%

Apr. 22	New Zealand Shares Jumps on Business Optimism; Ryman Healthcare CEO Resigns	MT
Apr. 21	Ryman Healthcare Group CEO Resigns	MT

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,097	5,127	7,609	4,665	3,598	2,843	-	-
Enterprise Value (EV) ¹	7,421	6,873	9,876	7,227	5,901	5,350	5,373	5,320
P/E ratio	18.8 x	19.5 x	18.1 x	6.77 x	10.5 x	7.58 x	7.1 x	6.59 x
Yield	1.85%	2.35%	1.46%	2.39%	1.68%	-	-	1.74%
Capitalization / Revenue	15.9 x	12.1 x	16.7 x	9.17 x	6.3 x	4.36 x	4 x	3.7 x
EV / Revenue	19.4 x	16.2 x	21.7 x	14.2 x	10.3 x	8.2 x	7.56 x	6.92 x
EV / EBITDA	27.6 x	23.7 x	35.8 x	22.5 x	14.9 x	15.3 x	10.5 x	9.59 x
EV / FCF	-49.2 x	-26.3 x	-22.9 x	-36.7 x	-	141 x	-896 x	-47.9 x
FCF Yield	-2.03%	-3.81%	-4.36%	-2.73%	-	0.71%	-0.11%	-2.09%
Price to Book	2.82 x	2.24 x	2.7 x	1.37 x	0.58 x	0.57 x	0.52 x	0.48 x
Nbr of stocks (in thousands)	497,679	497,736	497,289	497,345	685,308	685,147	-	-
Reference price ²	12.25	10.30	15.30	9.380	5.250	4.150	4.150	4.150
Announcement Date	5/23/19	6/12/20	5/20/21	5/19/22	5/19/23	-	-	-

¹NZD in Million²NZD

Estimates

Fiscal Period: Marzo	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	382.3	423.9	455.8	508.8	571	652.7	711.2	768.3
EBITDA ¹	269.1	290	276.1	321.3	395.5	350.2	510	554.5
EBIT ¹	245.9	261.3	243.8	285.6	348.9	325.6	332.1	373.4
Operating Margin	64.32%	61.65%	53.48%	56.14%	61.11%	49.89%	46.69%	48.6%
Earnings before Tax (EBT) ¹	329.4	171.1	410.5	722.1	-	531	426	433
Net income ¹	326	264.7	423.1	692.9	257.8	346.6	398.2	443
Net margin	85.26%	62.45%	92.82%	136.18%	45.16%	53.1%	55.99%	57.66%
EPS ²	0.6520	0.5290	0.8460	1.386	0.4990	0.5478	0.5844	0.6296
Free Cash Flow ¹	-150.9	-261.6	-430.4	-197.1	-	38	-6	-111
FCF margin	-39.48%	-61.72%	-94.44%	-38.73%	-	5.82%	-0.84%	-14.45%
FCF Conversion (EBITDA)	-	-	-	-	-	10.85%	-	-
FCF Conversion (Net income)	-	-	-	-	-	10.97%	-	-
Dividend per Share ²	0.2270	0.2420	0.2240	0.2240	0.0880	-	-	0.0723
Announcement Date	5/23/19	6/12/20	5/20/21	5/19/22	5/19/23	-	-	-

¹NZD in Million²NZD

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,324	1,746	2,268	2,562	2,303	2,506	2,530	2,476
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.921 x	6.022 x	8.213 x	7.973 x	5.823 x	7.157 x	4.961 x	4.466 x
Free Cash Flow ¹	-151	-262	-430	-197	-	38	-6	-111
ROE (net income / shareholders' equity)	11%	10.8%	8.75%	8.14%	7.46%	6.48%	6.15%	6.38%
ROA (Net income/ Total Assets)	3.65%	3.38%	5.02%	6.88%	2.2%	3.9%	3%	2.9%
Assets ¹	8,938	7,836	8,424	10,069	11,738	8,886	13,274	15,277
Book Value Per Share ²	4.340	4.600	5.660	6.870	9.030	7.340	7.960	8.610
Cash Flow per Share ²	0.8000	0.9000	0.8300	1.170	1.260	0.9500	1.000	1.080
Capex ¹	552	711	844	783	1,041	732	653	750
Capex / Sales	144.47%	167.83%	185.08%	153.9%	182.33%	112.21%	91.79%	97.66%
Announcement Date	5/23/19	6/12/20	5/20/21	5/19/22	5/19/23	-	-	-

¹NZD in Million²NZD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4.15 NZD

Average target price

7.452 NZD

Spread / Average Target

+79.57%

	1st Jan change	Capi.
RYMAN HEALTHCARE LIMITED	-29.66%	1.69B
CVS HEALTH CORPORATION	-14.92%	84.68B
HCA HEALTHCARE, INC.	+13.30%	81.12B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+10.92%	29.4B
LABORATORY CORPORATION OF AMERICA HOLDINGS	-12.71%	16.73B
FRESENIUS SE & CO. KGAA	-3.06%	16.36B
QUEST DIAGNOSTICS INCORPORATED	-2.63%	14.92B
PURE HEALTH HOLDING	-31.75%	11.77B
FRESENIUS MEDICAL CARE AG	-1.42%	11.72B
DAVITA INC.	+27.44%	11.71B