Our Aug. 27 modeling of Ramsay contained assumption errors, which we correct. We applied a lower fiscal 2027 tax rate and net interest than we think is achievable. This caused our EPS and dividend forecast for fiscal 2027 to be higher than they should have been. The note is materially unchanged.
Ramsay is entrenched as the market share leader in Australia, which contributes the bulk of group earnings and remains an attractive market, given relatively stable participation in private health insurance.
Wage pressures are weighing on Ramsay's profitability.
|
Metric
|
RHC
|
SHL
|
THC
|
|---|---|---|---|
Price/Earnings (Normalized) | 34.16 | 14.22 | 13.13 |
Price/Book Value | 2.67 | 1.09 | 4.39 |
Price/Sales | 0.71 | 0.84 | 0.98 |
Price/Cash Flow | 9.22 | 6.50 | 5.16 |
|
Metric
|
RHC
|
SHL
|
THC
|
|---|---|---|---|
Quick Ratio | 0.74 | 0.84 | 1.22 |
Current Ratio | 0.91 | 0.99 | 1.41 |
Interest Coverage | 0.83 | 4.98 | 5.71 |
|
Metric
|
RHC
|
SHL
|
THC
|
|---|---|---|---|
Return on Assets (Normalized) | 1.68% | 3.74% | 5.60% |
Return on Equity (Normalized) | 7.52% | 7.39% | 39.08% |
Return on Invested Capital (Normalized) | 2.06% | 5.35% | 10.73% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| Genesis Healthcare Inc Class A
GENNQ
| LOCK|&R& | LOCK|#m% | — | |||
| HCA Healthcare Inc
HCA
| LOCK|MC#QYZ | LOCK|J>mp | $92B | |||
| Fresenius SE & Co KGaA ADR
FSNUY
| — | LOCK|#Tm@l | $28B | |||
| Tenet Healthcare Corp
THC
| LOCK|qT!mFT | LOCK|L&JPn | $21B | |||
| Fresenius Medical Care AG
FMCQF
| — | LOCK|?r?@@ | $12B | |||
| Fresenius Medical Care AG ADR
FMS
| LOCK|#RDspNh | LOCK|&!TS | $12B | |||
| Encompass Health Corp
EHC
| — | LOCK|^!TP& | $12B | |||
| DaVita Inc
DVA
| LOCK|ybHQLG | LOCK|mL>@m | $11B | |||
| Universal Health Services Inc Class B
UHS
| LOCK|%cy$d# | LOCK|^?y&R | $10B | |||
| Ensign Group Inc
ENSG
| — | LOCK|W&&? | $10B |
United States