Monash IVF Group Ltd (MVF) AI Stock Analysis

• Market Cap: AU$266.90M
• Dividend Yield: 6.22%
• Average Volume (3M): 2.18M
• Price to Earnings (P/E): 17.9
• Beta (1Y): 1.21
• Revenue Growth: 6.65%
• EPS Growth: N/A
• Country: AU
• Employees: 997
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 0.02
• Shares Outstanding: 389,634,830
• 10 Day Avg. Volume: 1,374,502
• 30 Day Avg. Volume: 2,181,726
• PEG Ratio: -0.02
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 1.01
• P/FCF Ratio: 588.64
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$0.82
• Price Target Upside: 20.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.05
• Revenue Forecast (FY): AU$265.47M

• Rating: 67 Neutral
• Price Target: AU$0.74 ▲(9.26% Upside)
• Action: Reiterated Date: 11/25/25
• Date: Action: Reiterated 11/25/25

Monash IVF Group Ltd's strong valuation metrics, including a low P/E ratio and high dividend yield, are the most significant strengths. However, the overbought technical indicators and weak cash flow position present notable risks. The absence of recent earnings call data and corporate events limits further insights.

Positive Factors

Revenue and Profitability

A large year-over-year revenue jump with sustained gross (33.2%) and net (9.2%) margins indicates the business can scale clinical volumes while preserving pricing and lab economics. Durable margins support reinvestment in clinics, R&D and stable operating cash generation over medium term.

Balance Sheet and Leverage

Moderate leverage (D/E 0.73) combined with a 10.2% ROE reflects prudent capital structure and effective use of equity. This balance affords flexibility to fund clinic expansion or acquisitions without extreme refinancing risk, supporting multi-quarter strategic investments.

Integrated Clinic + Lab Network

A vertically integrated network of clinics and labs creates referral capture, higher internal lab utilization, and differentiated service delivery. Scale across geographies and labs improves unit economics, referral relationships and long-term patient lifetime value.

Negative Factors

Free Cash Flow Weakness

A near-total collapse in free cash flow and low operating cash flow-to-income ratio mean reported earnings do not convert well to cash. Over months, this limits organic funding for capex, dividends or M&A and raises reliance on external financing or equity raises.

Margin Volatility

Historic volatility in EBIT/EBITDA margins signals sensitivity to case mix, pricing or cost pressures. For a service business, inconsistent margins complicate capital allocation and make medium-term profitability less predictable, increasing execution risk for growth plans.

Revenue Sensitivity to Reimbursement & Referrals

Revenue depends materially on government reimbursement and clinician referral patterns. Structural shifts in policy, subsidy changes or referral behaviour can sustainably reduce patient affordability or volumes, constraining long-term demand and top-line growth.

Monash IVF Group Ltd Business Overview & Revenue Model

Company Description

Monash IVF Group Limited provides assisted reproductive and specialist women imaging services in Australia and Malaysia. The company offers diagnostic obstetric, gynecological ultrasound, and fertility treatment services. It also provides tertiary level prenatal diagnostic and IVF treatment services. The company was incorporated in 2014 and is based in Richmond, Australia.

How the Company Makes Money

Monash IVF Group Ltd generates revenue primarily through the provision of fertility treatment services. Key revenue streams include fees for IVF procedures, consultations, and related medical services, which are often covered partially or fully by private health insurance. The company also earns revenue from genetic testing services and cryopreservation procedures. Significant partnerships with healthcare providers and insurance companies enhance MVF's market reach and patient access, contributing to its earnings. Furthermore, the company may engage in research and development initiatives, which can lead to innovative services and additional revenue opportunities.

Monash IVF Group Ltd Financial Statement Overview

Summary

Monash IVF Group Ltd shows strong revenue growth and profitability, with a stable balance sheet. However, significant weaknesses in cash flow, particularly in free cash flow generation, need attention.

Income Statement

Monash IVF Group Ltd has demonstrated strong revenue growth over the years, with a significant increase of 74.5% in the latest year. The company maintains a healthy gross profit margin of 33.2% and a net profit margin of 9.2%, indicating solid profitability. However, the EBIT and EBITDA margins have shown some volatility, with a notable improvement in the latest year. Overall, the income statement reflects a positive growth trajectory with strong revenue and profit margins.

Balance Sheet

The balance sheet of Monash IVF Group Ltd shows a moderate debt-to-equity ratio of 0.73, indicating a balanced approach to leveraging. The return on equity stands at 10.2%, reflecting efficient use of equity to generate profits. The equity ratio is stable, suggesting a solid capital structure. While the company has increased its debt levels, the overall financial stability remains intact.

Cash Flow

The cash flow statement reveals a significant decline in free cash flow growth, with a decrease of 96.4% in the latest year. The operating cash flow to net income ratio is relatively low at 0.21, indicating potential challenges in converting income into cash. However, the company has maintained positive operating cash flow, which is a positive sign. Overall, the cash flow position shows some weaknesses that need to be addressed.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	269.39M	271.92M	254.96M	213.59M	192.29M	183.60M
Gross Profit	75.88M	90.31M	85.50M	63.41M	57.22M	57.66M
EBITDA	40.69M	53.01M	10.78M	48.49M	43.16M	51.21M
Net Income	15.16M	25.01M	-6.53M	21.84M	18.41M	25.15M
Balance Sheet
Total Assets	510.21M	492.61M	508.47M	421.89M	387.10M	356.17M
Cash, Cash Equivalents and Short-Term Investments	8.14M	9.43M	11.33M	8.01M	7.87M	8.76M
Total Debt	281.81M	180.31M	135.37M	100.04M	77.23M	45.99M
Total Liabilities	252.26M	242.19M	261.81M	146.82M	117.20M	87.73M
Stockholders Equity	253.91M	246.28M	241.91M	273.20M	267.92M	266.19M
Cash Flow
Free Cash Flow	9.23M	468.00K	31.70M	10.16M	19.51M	33.30M
Operating Cash Flow	23.21M	12.90M	52.52M	37.95M	31.28M	43.25M
Investing Cash Flow	-18.93M	-17.43M	-38.80M	-40.51M	-15.16M	-11.21M
Financing Cash Flow	-1.33M	2.67M	-10.39M	1.51M	-17.02M	-38.35M

Monash IVF Group Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.68
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MVF, the sentiment is Negative. The current price of 0.68 is below the 20-day moving average (MA) of 0.70, below the 50-day MA of 0.73, and below the 200-day MA of 0.73, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 38.42 is Neutral, neither overbought nor oversold. The STOCH value of 51.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MVF.

Monash IVF Group Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHL	70 Outperform	AU$11.79B	21.51	6.32%	4.69%	9.44%	-0.37%
MVF	67 Neutral	AU$266.90M	17.87	10.25%	6.22%	6.65%	―
ACL	59 Neutral	AU$426.65M	16.69	18.59%	4.60%	6.73%	37.16%
IDX	55 Neutral	AU$898.24M	64.72	0.94%	2.65%	33.54%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HLS	46 Neutral	€486.51M	-0.89	-67.21%	―	-23.02%	33.11%

Monash IVF Group Ltd Corporate Events

Monash IVF outlines 1H26 performance under strict disclaimer

Monash IVF Group has released a presentation outlining its activities and financial performance for the first half of fiscal 2026, emphasising that the material is general background information and may change. The group highlights that its reported performance metrics include non‑IFRS measures such as EBITDA, underlying EBIT and underlying NPAT, which are used by management to assess the business but have not been subject to audit review.

The company stresses that the presentation is not investment advice or an offer of securities and warns that it contains forward‑looking statements subject to significant risks and uncertainties. It further notes that neither the company nor its officers guarantee the accuracy or outcomes of these statements, and they accept limited liability for any use of the information, reinforcing a cautious stance for investors and other stakeholders relying on the data.

The most recent analyst rating on (AU:MVF) stock is a Buy with a A$0.77 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Declares Interim Dividend for Half-Year to December 2025

Monash IVF Group Ltd has declared an ordinary dividend of AUD 0.012 per fully paid share, relating to the six-month period ended 31 December 2025. The dividend will trade ex-dividend on 4 March 2026, with a record date of 5 March 2026 and payment scheduled for 10 April 2026.

The announcement underlines the company’s continued practice of returning capital to shareholders, signalling steady financial performance over the half-year period. The defined timetable provides clarity for investors on eligibility and cash flow timing, which may support the stock’s appeal to income-focused shareholders.

The most recent analyst rating on (AU:MVF) stock is a Buy with a A$0.77 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Profit Slides on Higher Costs Despite Meeting Guidance

Monash IVF Group reported half-year 2026 revenue of $137.9 million, down 1.8% year-on-year, with underlying EBITDA falling 15.3% to $30.2 million and underlying net profit dropping 34% to $10.4 million, albeit at the upper end of previously updated guidance. Statutory net profit slumped 57.9% to $7.2 million as margins were pressured by higher costs, including investment in an enhanced patient management system and additional professional services, and the group withheld an interim dividend after paying a final dividend in October 2024.

The company highlighted several non-recurring or specific items, such as commissioning costs, class action, restructuring and acquisition-related items, SaaS and other technology expenses, and incident-related professional service costs, which materially affected the gap between statutory and underlying earnings. Net tangible assets per share remained negative, though modestly improved to negative 8.42 cents, and contributions from associates were minimal, underscoring a period of subdued profitability and continued operational and systems investment for the fertility services provider.

The most recent analyst rating on (AU:MVF) stock is a Buy with a A$0.77 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Group Names Rebecca Dean as Company Secretary and General Counsel

Monash IVF Group has appointed Rebecca Dean as its new Company Secretary and General Counsel, effective 4 March 2026, strengthening its governance and legal capabilities across its assisted reproductive and women’s health services operations in Australia and Southeast Asia. Dean brings extensive experience in governance, compliance and corporate reporting from ASX-listed companies, including senior roles at SEEK and a 12-year tenure at Regis Healthcare, where she managed complex legal and regulatory issues in a highly regulated healthcare environment; the company’s CEO said her appointment is expected to deliver significant value for the business and stakeholders, with existing Company Secretary Malik Jainudeen retaining ASX communication responsibilities until her commencement.

The most recent analyst rating on (AU:MVF) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF CFO Malik Jainudeen Resigns, Formal Search for Successor Underway

Monash IVF Group has announced the resignation of its Chief Financial Officer and Company Secretary, Malik Jainudeen, who will remain with the company until the end of April 2026 before taking up a role with another organisation. The board has commenced a formal search for a new CFO, while acknowledging Jainudeen’s significant contribution since 2014, including his recent tenure as Acting CEO, with leadership continuity and succession planning now a short‑term focus for the group and its stakeholders.

The most recent analyst rating on (AU:MVF) stock is a Buy with a A$0.82 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Appoints Victoria Atkinson to Board with No Initial Shareholding

Monash IVF Group Limited has announced the appointment of Victoria Atkinson as a director of the company, effective 5 January 2026. According to the initial director’s interest notice lodged with the ASX, Atkinson currently holds no relevant interests in Monash IVF Group securities and has no disclosed interests in related contracts, indicating a starting position free of equity holdings as she joins the board.

The most recent analyst rating on (AU:MVF) stock is a Hold with a A$0.94 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Director Reduces Indirect Stake After Super Platform Closure

Monash IVF Group has disclosed a change in director Catherine Ann Aston’s shareholding following the lodgement of an Appendix 3Y notice. Aston has disposed of 75,000 indirectly held ordinary shares in the company, leaving her with a direct holding of 2,000 shares, after her superannuation fund Telstra Super closed its ‘Direct Access’ investment platform and required compulsory disposal of all securities held through that facility, indicating the change is driven by administrative platform changes rather than a discretionary decision about the company’s prospects.

The most recent analyst rating on (AU:MVF) stock is a Hold with a A$0.94 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.

Monash IVF Group Announces New CEO Start Date

Monash IVF Group Ltd has announced that Dr. Victoria Atkinson will commence her role as Managing Director and Chief Executive Officer on 5 January 2026. This leadership change is expected to impact the company’s operations and strategic direction, potentially influencing its market positioning in the assisted reproductive services industry.

The most recent analyst rating on (AU:MVF) stock is a Hold with a A$0.94 price target. To see the full list of analyst forecasts on Monash IVF Group Ltd stock, see the AU:MVF Stock Forecast page.