SIGMA HEALTHCARE LIMITED (SIG)
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SIG

SIG - SIGMA HEALTHCARE LIMITED

FNArena Sector : Health & Nutrition
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 1.04
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.09

28 Aug
2025

0.050

OPEN

$3.05

1.64%

HIGH

$3.12

190,437,336

LOW

$3.02

TARGET
$3.023 -2.2% downside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
CLV . EBO . EXL . MCP .
FNARENA'S MARKET CONSENSUS FORECASTS
SIG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 5.1 6.2 xxx
DPS (cps) xxx 1.8 3.9 xxx
EPS Growth xxx 100.0% 22.5% xxx
DPS Growth xxx 82.7% 100.0% xxx
PE Ratio xxx N/A 50.3 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx 35.6% 62.3% xxx

Dividend yield today if purchased 3 years ago: 2.65%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.58

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/03 - ex-div 0.5c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic -1.25.9-0.70.20.45.1
DPS All 1.01.01.91.01.01.8
Sales/Revenue 3,244.3 M3,400.4 M3,446.2 M3,660.2 M3,322.1 M14,404.4 M
Book Value Per Share 46.952.547.846.555.440.6
Net Operating Cash Flow 200.6 M12.5 M-46.3 M142.7 M42.0 M598.8 M
Net Profit Margin -0.38 %1.76 %-0.21 %0.05 %0.14 %8.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed -2.49 %11.83 %-1.42 %0.38 %0.67 %-
Return on Invested Capital -1.83 %9.14 %-0.99 %0.25 %0.53 %-
Return on Assets -0.94 %4.84 %-0.58 %0.15 %0.35 %-
Return on Equity -2.49 %11.83 %-1.42 %0.38 %0.67 %-
Return on Total Capital -12.57 %-9.85 %-14.10 %-9.09 %-8.40 %-
Free Cash Flow ex dividends 112.8 M-64.6 M-80.4 M98.4 M27.3 M60.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt 143 M75 M26 M13 M10 M194 M
Long Term Debt 157 M140 M298 M214 M127 M1,877 M
Total Debt 300 M215 M323 M227 M137 M2,071 M
Goodwill - Gross 103 M103 M103 M95 M89 M3,617 M
Cash & Equivalents - Generic 104 M16 M31 M17 M356 M139 M
Price To Book Value 1.241.220.911.321.877.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 57.1 M77.0 M14.2 M29.4 M4.7 M57.6 M
Capex % of Sales 1.76 %2.27 %0.41 %0.80 %0.14 %0.40 %
Cost of Goods Sold 3,057 M3,192 M3,247 M3,436 M3,132 M10,948 M
Selling, General & Admin. Exp & Other 289 M283 M310 M293 M262 M1,606 M
Research & Development ------
Investments - Total 14 M15 M18 M16 M14 M80 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

2

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$xx.xx

xx.xx%

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xx/xx/xxxx

5

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xx/xx/xxxx

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Morgan Stanley

28/08/2025

1

Overweight

$3.30

6.80%

Morgan Stanley’s main takeaways from Sigma Healthcare's FY25 earnings call were a slight acceleration in trading into 2H25, with warehouse and distribution costs growing basically in line with inflation. Some technology costs and additional labour costs in overseas markets were noted.

FY25 results were in line with expectations and consensus, with earnings of $834.5m. Chemist Warehouse same-store sales growth increased 11.3% in 2H25, with the trading update stating FY26 year-to-date double-digit growth. New stores came in at 35, consistent with historical precedent.

There were no major synergies in FY25, while new opportunities will create higher synergy targets and more benefits going forward.

Expansion into other markets includes Europe, with Ireland store economics similar to A&NZ. My Chemist conversions will be completed over the next two months. Health & beauty remains competitive, but all categories are growing and gaining market share.

No slowdown in GLP-1 uptake is expected in FY26 after a shortage in FY25.

Morgan Stanley retains an Overweight rating with a $3.30 target price. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 6.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 7.00 cents.

Bell Potter

xx/xx/xxxx

3

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$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

24/07/2025

2

Overweight

$3.30

6.80%

Jarden flags Sigma Healthcare is aiming to lift the store size for Chemist Warehouse, with many of the older stores now space constrained and smaller at under 400sqm.

The analyst expects Sigma will increase the store size, which will lower sales per sqm but result in higher average store sales, which is a net positive. Chemist Warehouse currently generates around $13.9m sales per store and sales per sqm of around $26k, on Jarden's estimates.

Assuming around 20%-25% of the network is overtrading (smaller stores), the analyst believes net sales can grow at over 50% of incremental space uplift, with over 7% group sales as a potential tailwind in the next five years.

No change to Overweight rating and $3.30 target. The broker's EPS estimates remain unchanged.

FORECAST
Jarden forecasts a full year FY26 dividend of 3.60 cents and EPS of 5.90 cents.
Access Extra Coverage Research History >

SIG STOCK CHART

FNArena News on SIG

1
Next Week At A Glance – 1-5 Sept 2025

Aug 29 2025 - Weekly Reports
2
Sigma Healthcare’s Four Pillars Of Growth

Aug 29 2025 - Australia
3
FNArena Corporate Results Monitor – 28-08-2025

Aug 28 2025 - Australia
4
Rudi’s View: BlueScope Steel, IGO, GrainCorp, Pilbara Minerals, Santos & More

Aug 14 2025 - Rudi's View
5
Rudi’s View: AI Updates, Hot Favourites & First August Results

Aug 07 2025 - Rudi's View

Latest Health & Nutrition News

1
Sigma Healthcare’s Four Pillars Of Growth

Aug 29 2025 - Australia
2
Sigma Healthcare: Synergies, Margins In Focus

Jun 19 2025 - Australia
3
Sigma Healthcare Promises Higher Margins

Oct 03 2023 - Small Caps
4
Sigma’s Win Not Neccessarily Ebos’ Loss

Jun 14 2023 - Small Caps
5
Sigma Healthcare: Brokers Wary

Mar 31 2022 - Australia
6
Health & Wellness Boom On The ASX

Apr 29 2021 - Weekly Reports
7
M&A Now On Sigma Healthcare’s Agenda

Mar 24 2021 - Australia
8
McPherson’s Expands Into Herbal Health

Nov 04 2020 - Small Caps
9
Nine Ignored Companies Now Worth A Look

Sep 23 2020 - FYI
10
Next Week At A Glance – 14-18 Sep 2020

Sep 11 2020 - Weekly Reports