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

$11.68

20 Mar
2023

-0.050

OPEN

$11.60

-0.43%

HIGH

$11.71

401,510

LOW

$11.50

TARGET
$11.798 1.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
MMM . WES . ALD . PFP .
FNARENA'S MARKET CONSENSUS FORECASTS
IVC: 1
Title FY21
Actual
FY22
Actual
FY23
Forecast
FY24
Forecast
EPS (cps) xxx - 1.3 35.9 xxx
DPS (cps) xxx 24.5 24.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 16.7% - 0.1% xxx
PE Ratio xxx N/A 32.5 xxx
Dividend Yield xxx N/A 2.1% xxx
Div Pay Ratio(%) xxx N/A 68.1% xxx

Dividend yield today if purchased 3 years ago: 1.87%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.09

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: 01/09 - ex-div 13.5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx-1.3
DPS All xxxxxxxxxxxxxxx24.5
Sales/Revenue xxxxxxxxxxxxxxx588.9 M
Book Value Per Share xxxxxxxxxxxxxxx380.2
Net Operating Cash Flow xxxxxxxxxxxxxxx69.7 M
Net Profit Margin xxxxxxxxxxxxxxx-0.31 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx-0.32 %
Return on Invested Capital xxxxxxxxxxxxxxx-0.20 %
Return on Assets xxxxxxxxxxxxxxx-0.10 %
Return on Equity xxxxxxxxxxxxxxx-0.32 %
Return on Total Capital xxxxxxxxxxxxxxx6.98 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-29.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.1

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

08/03/2023

3

Downgrade to Hold from Add

$12.19

4.37%

Having previously accumulated a near 18% interest in InvoCare, TPG global has launched an indicative bid to acquire the remainder of the company for $12.65/share, a 41% premium to the previous closing price.

Morgans notes the offer price is well above InvoCare's peer median FY23 EV/EBITDA multiple of 11.1x. The offer is at 15.2x, which is above the company's average over the past ten years of 13.9x and shy of the highest point of 16.6x in December 2017.

The analyst assigns a 70% probability the transaction proceeds.

The broker raises its target to $12.19 from $11.10 and lowers its rating to Hold from Add on valuation.

FORECAST
Morgans forecasts a full year FY23 dividend of 22.00 cents and EPS of 32.00 cents.
Morgans forecasts a full year FY24 dividend of 22.00 cents and EPS of 32.00 cents.

UBS

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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IVC STOCK CHART