Company Valuation: Ramsay Health Care Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,334 16,683 12,839 10,857 8,432 11,926 - -
Change - 16.39% -23.04% -15.44% -22.33% 41.43% - -
Enterprise Value (EV) 1 23,881 27,067 24,069 21,132 13,185 14,676 18,377 18,265
Change - 13.34% -11.08% -12.2% -37.61% 11.31% -5.02% -0.61%
P/E 32.7x 63.1x 45.1x 12.5x 1,223x 32.4x 28x 25x
PBR 3.57x 4.26x 3.11x 2.22x 1.67x 2.05x 2.32x 2.23x
PEG - -1.6x 6.02x 0x -12.3x 0x 0.7x 2.1x
Capitalization / Revenue 1.08x 1.21x 0.84x 0.65x 0.47x 0.54x 0.62x 0.59x
EV / Revenue 1.79x 1.96x 1.57x 1.26x 0.74x 0.78x 0.95x 0.91x
EV / EBITDA 11.6x 14.8x 12x 9.94x 6.11x 6.36x 7.52x 7.02x
EV / EBIT 21.1x 29.2x 23.1x 21x 18.7x 13.3x 14.8x 13.4x
EV / FCF 28x 3,867x 43.1x 39.2x 18.7x 21.1x 22.5x 23.1x
FCF Yield 3.57% 0.03% 2.32% 2.55% 5.34% 4.75% 4.44% 4.32%
Dividend per Share 2 1.515 0.97 0.75 0.8 0.8 0.91 1.12 1.269
Rate of return 2.41% 1.32% 1.33% 1.69% 2.18% 2.07% 2.16% 2.45%
EPS 2 1.926 1.161 1.248 3.809 0.03 1.358 1.848 2.068
Distribution rate 78.7% 83.5% 60.1% 21% 2,667% 67% 60.6% 61.4%
Net sales 1 13,332 13,776 15,369 16,779 17,854 18,707 19,252 20,106
EBITDA 1 2,054 1,830 2,002 2,126 2,159 2,309 2,444 2,603
EBIT 1 1,133 927.5 1,041 1,005 706.2 1,105 1,242 1,361
Net income 1 449 274 298.1 888.7 24 329.2 428.9 478.5
Net Debt 1 9,547 10,384 11,230 10,276 4,752 4,564 6,451 6,339
Reference price 2 62.95 73.24 56.29 47.46 36.69 51.80 51.80 51.80
Nbr of stocks (in thousands) 227,700 227,782 228,080 228,754 229,830 230,230 - -
Announcement Date 8/25/21 8/25/22 8/23/23 8/29/24 8/27/25 8/26/26 - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.48x2.93x13.15x1.39% 17.65B
50.5x4.34x28.29x0.28% 13.27B
19.02x2.26x10.55x0.65% 11.95B
25.81x3.02x10.51x1.56% 11.45B
79.99x7.5x30.7x - 9.88B
24.46x1.99x16.01x0.16% 9.98B
19.48x2.83x11.67x4.15% 9.49B
39.98x1.04x8.6x1.62% 8.65B
13.15x1.33x7.99x2.11% 8.02B
Average 33.76x 3.03x 15.28x 1.49% 11.15B
Weighted average by Cap. 34.08x 3.10x 15.61x 1.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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