InvoCare Limited (IVC)
Views and News
Essentials
Half-yearly Performance & Estimates - IVC
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 321.1 | 180.0 | 368.7 | 188.5 | 385.4 | 411.0 | 431.0 |
| EBITDA, $m | 67.1 | 43.8 | 92.8 | 46.6 | 102.0 | 100.0 | 107.0 |
| EBIT, $m | 53.5 | 35.8 | 76.4 | 37.9 | 84.2 | 82.0 | 89.0 |
| Report NPAT, $m | 27.1 | 20.4 | 44.6 | 21.5 | 49.0 | ||
| Adj. NPAT, $m | 49.0 | 47.3 | 52.7 | ||||
| Reported EPS, ¢ | 26.00 | 19.00 | 41.00 | 20.00 | 45.00 | ||
| Adjusted EPS, ¢ | 45.00 | 43.00 | 47.60 | ||||
| EPS %FY/Growth | 46% | 58% | 44% | 10% | -4% | 11% | |
| Dividend, ¢ | 29.75 | 15.0 | 34.0 | 15.0 | 34.5 | 36.85 | 41.50 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 21% | 0 | 25% | 24.7% | 26% | 24.3% | 24.8% |
| NPAT Margin | 8% | 0 | 12% | 11.4% | 13% | 11.5% | 12.2% |
| ROE, % | 19% | 14% | 30% | 14 | 29% | ||
| EBIT/Interest | 3.7 | 4.7 | 5.5 | 4.73 | 5.21 | ||
| Net Debt / Equity | 1.47 | 1.47 | 1.43 | 1.44 | 1.26 | ||
| CashFlow/Sh, ¢ | 41.7 | 21.3 | 48.6 | 30.1 | 66.0 | 58.5 | 63.5 |
| Y/E Shares, m | 109.5 | 110.0 | 109.4 | 110.0 | 110.0 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns except the first half years which show their percentage of full year EPS. In a handful of cases, unadjusted share splits, or changes between positive and negative values may give strange changes in ratios. |
Recent News Highlights
As at 31/12/2012 : see details at www.invocare.com.au (new window? Shift+Click)
| 05/09/2012 Macquarie Connections Presentation |
| 16/08/2012 2012 Half Year Results & Presentation |
| 01/06/2012 Release of Escrow Shares |
| 11/05/2012 2012 AGM & Chairman's Address |
| 02/05/2012 Macquarie Connections Australia Conference Presentation |
Russell Research in the media
BUY InvoCare Limited, IVC, $10.76
The leading funerals group across Australia, NZ and Singapore has an excellent growth record, with useful yield. Buy on the recent market fall.
Stock Picks for Sunday Herald Sun - 29 July 2012
Hold: Invocare Limited, IVC, $8.65
Now the leading Asia-Pacific funeral operator, its well managed growth with yield offers a comfortable long-term nest egg.
Company Overview
Profile
InvoCare
Rating: ♣
Category: Best Stock ; Midcaps
Action: Accumulate
Website: www.invocare.com.au
| ASX code: | IVC |
| Closing Price, 20/06/14: | $ 9.870 |
| Market Capitalisation: | $ 1,86 million |
| 52 Week High: | $ 12.28 |
| 52 Week Low: | $ 9.82 |
| Sector: | Specialized Consumer Services |
| Index: | S&P/ASX 200 Index |
Summary of Fundamentals
| Year-end December | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 44.6 | 49.0 | 47.3 | 52.7 |
| Reported EPS, ¢ | 41.00 | 45.00 | ||
| Adjusted EPS, ¢ | 42.50 | 43.00 | 47.60 | |
| EPS Growth, % | 58% | 4% | 1% | 11% |
| P/E Ratio, x | 24.07 | 23.22 | 22.95 | 20.74 |
| Dividend, ¢ | 34.0 | 34.5 | 36.85 | 41.50 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 3.44 | 3.50 | 3.73 | 4.20 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 23 June 2014
Other Highlights
| Sector: | Specialized Consumer Services |
| Return on Equity, FY13 : | 29% |
| Net Debt to Equity, FY13 : | 126 % |
| EBIT / Interest Cover, FY13 : | 5.21 x |
| Gicscode: | 25302020 |
| First Listed: | 04-Dec-03 |
Business Activities
InvoCare Limited (IVC) is a majo owner and operator of funeral homes, cemeteries and crematoria across Australia, NZ and Singapore. Brands include White Lady Funerals and Simplicity Funerals among many.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |