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Healius Limited
(Sydney:HLS)
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Rating:46Neutral
Price Target:
AU$0.40
▲(18.24% Upside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (revenue decline, losses, and high leverage) and a clear bearish technical setup (price below all major moving averages with negative MACD). Valuation is also pressured by negative earnings (negative P/E) and no dividend yield data to offset risk, partially tempered by positive operating cash flow.
Positive Factors
Diversified diagnostic services
Healius' core fee-for-service model spans pathology and diagnostic imaging delivered through an established network of labs, collection centres and clinics. That durable service mix generates recurring referral-driven volumes from clinicians and mixed payer flows (government, insurers, patients).
Negative Factors
Sustained revenue decline
A 13.8% revenue decline materially reduces fixed-cost absorption in lab and imaging operations, pressuring margins and returns. If volumes or reimbursement settings don't recover, the company may face persistent earnings weakness and limited scope to rebuild scale advantages.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified diagnostic services
Healius' core fee-for-service model spans pathology and diagnostic imaging delivered through an established network of labs, collection centres and clinics. That durable service mix generates recurring referral-driven volumes from clinicians and mixed payer flows (government, insurers, patients).
Read all positive factors
Healius Limited (HLS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$272.31M
Dividend YieldN/A
Average Volume (3M)2.94M
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue Growth-12.15%
EPS Growth-2285.99%
CountryAU
Employees3,699
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.75
Shares Outstanding726,155,800
10 Day Avg. Volume3,249,015
30 Day Avg. Volume2,941,962
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.26
Price to Sales (P/S)0.11
P/FCF Ratio0.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.43Price Target Upside25.49% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering6
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$1.42B
Healius Limited Business Overview & Revenue Model
Company Description
Healius Limited is an Australian firm dedicated to delivering specialized diagnostic services to both individual consumers and healthcare practitioners. Its operations are structured into four primary segments: Pathology, Medical Imaging, Day Hosp...
How the Company Makes Money
Healius makes money primarily by providing fee-for-service diagnostic healthcare to patients referred by doctors and other clinicians. The core revenue streams are (1) pathology: the company collects patient samples (e.g., blood and other specimen...
Healius Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.37B | 1.34B | 1.75B | 1.71B | 2.29B | 1.90B |
| Gross Profit | 331.90M | 398.60M | 1.52B | 341.70M | 779.20M | 526.50M |
| EBITDA | 206.80M | 31.20M | -298.10M | -57.80M | 734.80M | 470.40M |
| Net Income | -168.80M | -151.20M | -645.80M | -367.80M | 307.90M | 43.70M |
Balance Sheet | ||||||
| Total Assets | 1.77B | 1.78B | 2.98B | 3.65B | 4.14B | 3.78B |
| Cash, Cash Equivalents and Short-Term Investments | 51.60M | 57.20M | 60.10M | 115.30M | 81.30M | 70.10M |
| Total Debt | 1.66B | 911.80M | 1.60B | 1.77B | 1.78B | 1.44B |
| Total Liabilities | 1.22B | 1.19B | 1.94B | 2.15B | 2.22B | 1.92B |
| Stockholders Equity | 557.10M | 587.90M | 1.04B | 1.51B | 1.92B | 1.86B |
Cash Flow | ||||||
| Free Cash Flow | 124.30M | 231.70M | 173.80M | 230.30M | 480.30M | 432.00M |
| Operating Cash Flow | 174.70M | 285.70M | 266.80M | 306.40M | 573.80M | 493.30M |
| Investing Cash Flow | 734.50M | 730.00M | -63.00M | 67.30M | -401.70M | 386.90M |
| Financing Cash Flow | -973.90M | -1.02B | -259.00M | -339.70M | -163.50M | -984.70M |
Healius Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$10.80B | 19.69 | 6.39% | 4.99% | 13.14% | -2.73% | |
67 Neutral | AU$272.74M | 17.99 | 6.06% | 1.87% | -0.03% | ― | |
59 Neutral | AU$443.92M | 16.01 | 16.35% | 5.42% | 1.12% | -12.02% | |
55 Neutral | AU$782.99M | 55.85 | 2.05% | 3.51% | 56.28% | 55.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | AU$272.31M | -0.50 | -29.48% | ― | -12.15% | -2285.99% | |
46 Neutral | AU$94.48M | -5.76 | -164.12% | ― | -14.85% | -41.04% |
* Healthcare Sector Average
AU:HLS
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Healius Limited Corporate Events
Healius Sets Webcast for FY26 Results Release
Jul 30, 2026
Healius Limited will release its full-year FY26 financial results on 19 August 2026 and plans to brief analysts and investors via a webcast that same morning. The scheduled presentation is aimed at providing detailed commentary on the performance ...
JPMorgan Group Drops Below Substantial Holder Threshold in Healius
Jul 9, 2026
JPMorgan Chase Co. and several affiliated entities have notified Healius Limited that they have ceased to be substantial holders in the company as of 7 July 2026. The change reflects adjustments in securities lending arrangements, collateral hold...
Vanguard Group Cuts Stake Below Substantial Holder Level in Healius
Jul 6, 2026
Vanguard Group has notified Healius Limited that it has ceased to be a substantial holder in the Australian healthcare company as of 1 July 2026. The U.S. asset manager now holds 4.721% of Healius voting power, down from its previous substantial s...
Healius Updates Market on Lapse of Director Performance Rights
Jul 3, 2026
Healius Limited has disclosed a change in director Paul Anderson’s interests in the company’s securities, detailing the lapse of a portion of his performance rights. The announcement confirms that his direct holding of performance righ...
Healius performance rights lapse after unmet conditions
Jun 29, 2026
Healius Limited has announced the lapse of 2,847,416 performance rights, identified under ASX code HLSAB, following the failure or impossibility of meeting the specified conditions attached to these securities. The cessation of these conditional r...
Healius Secures New National Pathology Deal with Ramsay Health Care
Jun 26, 2026
Healius Limited has entered a new national agreement framework with Ramsay Health Care’s wholly owned subsidiaries, under which its existing pathology leases and service arrangements at 13 Ramsay-operated hospitals across New South Wales, We...
Macquarie Group Exits Substantial Holder Position in Healius
May 29, 2026
Macquarie Group Limited and its controlled entities have lodged a notice stating they have ceased to be substantial shareholders in Healius Limited. The filing, made under Australian corporations law and signed by Macquarie’s company secreta...
Macquarie Group Ends Substantial Shareholding in Healius
May 22, 2026
Macquarie Group Limited and its controlled entities have notified Healius that they have ceased to be a substantial shareholder in the company, lodging a formal notice under Australian corporations law. The change in Macquarie’s holding may ...
Healius flags asset sale and funding squeeze as wage pressures mount
May 12, 2026
Healius has issued a trading update for FY 2026, forecasting group underlying EBITDA of $259 million to $264 million and underlying EBIT of $30 million to $35 million, as modest revenue growth and cost controls support profitability. Pathology rev...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.