INVOCARE LIMITED (IVC)
Share Price Analysis and Chart

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IVC - INVOCARE LIMITED

FNArena Sector : Consumer Products & Services
Year End: December
GICS Industry Group : Consumer Services
Index: ASX200 | ASX300 | ALL-ORDS

InvoCare is the largest operator of funeral homes, cemeteries and crematoria in Australia and New Zealand, with operations in Singapore. Created in 2001, it floated on the ASX in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$11.28

25 May
2022

-0.540

OPEN

$11.68

-4.57%

HIGH

$11.72

390,194

LOW

$11.23

TARGET
$13.05 15.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
MMM . ALD . PFP .
FNARENA'S MARKET CONSENSUS FORECASTS
IVC: 1
Title FY20
Actual		 FY21
Actual		 FY22
Forecast		 FY23
Forecast
EPS (cps) xxx 56.1 39.4 xxx
DPS (cps) xxx 21.0 28.2 xxx
EPS Growth xxx N/A - 29.7% xxx
DPS Growth xxx 68.0% 34.1% xxx
PE Ratio xxx N/A 27.7 xxx
Dividend Yield xxx N/A 2.6% xxx
Div Pay Ratio(%) xxx 37.4% 71.4% xxx

Dividend yield today if purchased 3 years ago: 1.34%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.92

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: 03/03 - ex-div 11.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx56.1
DPS All xxxxxxxxxxxxxxx21.0
Sales/Revenue xxxxxxxxxxxxxxx529.4 M
Book Value Per Share xxxxxxxxxxxxxxx405.3
Net Operating Cash Flow xxxxxxxxxxxxxxx77.7 M
Net Profit Margin xxxxxxxxxxxxxxx15.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Capital Employed xxxxxxxxxxxxxxx14.44 %
Return on Invested Capital xxxxxxxxxxxxxxx8.68 %
Return on Assets xxxxxxxxxxxxxxx4.56 %
Return on Equity xxxxxxxxxxxxxxx14.44 %
Return on Total Capital xxxxxxxxxxxxxxx7.29 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-8.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

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EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

25/03/2022

3

Hold

$13.00

15.25%

Ord Minnett examines the differences between the Australian and UK funeral industries, as well as differences between InvoCare and the UK-listed Dignity, which has released disappointing FY21 results.

A key difference is that Dignity guided to lower expected death volumes (after excess deaths during the pandemic), whereas in recent months, InvoCare Australia has seen a meaningful increase in death volumes, explains the broker.

The analyst points to InvoCare's 24% market share in Australia, while Dignity has 12% share and a large unlisted competitor. 

Ord Minnett maintains its Hold rating and $13 target price.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

FORECAST
Ord Minnett forecasts a full year FY22 dividend of 28.00 cents and EPS of 40.00 cents.
Ord Minnett forecasts a full year FY23 dividend of 32.00 cents and EPS of 46.00 cents.

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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IVC STOCK CHART

FNArena News on IVC

1
Next Week At A Glance – 16-20 May 2022

May 13 2022 - Weekly Reports
2
Weekly Ratings, Targets, Forecast Changes – 07-03-22

Mar 07 2022 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Mar 03, 2022

Mar 03 2022 - Daily Market Reports
4
FNArena Corporate Results Monitor – 01-03-2022

Mar 01 2022 - Australia
5
The Short Report – 03 Feb 2022

Feb 03 2022 - Weekly Reports

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