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Healius Limited
(Sydney:HLS)
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Rating:50Neutral
Price Target:
AU$0.42
â–Ľ(-4.55% Downside)
Action:Reiterated
Date:09/19/26
The score is held back primarily by sustained multi-year net losses and weak/inconsistent profitability despite the revenue rebound. Resilient positive free cash flow and improving leverage provide meaningful support, while technicals remain weak with the stock below major moving averages and only neutral momentum. Valuation is also constrained by negative earnings and no dividend yield data.
Positive Factors
Persistent free cash flow
Persistent positive operating and free cash flow, including during recent loss-making years, indicates the diagnostic network is still converting activity into liquidity. The FY2026 improvement can support debt reduction and ongoing operations, although historical variability means cash generation is not fully consistent.
Negative Factors
Sustained net losses
Four consecutive years of net losses indicate that revenue recovery has not yet translated into durable shareholder profitability. Continued losses can constrain reinvestment, weaken equity, and make the business more dependent on cash generation and balance-sheet actions to sustain financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Persistent free cash flow
Persistent positive operating and free cash flow, including during recent loss-making years, indicates the diagnostic network is still converting activity into liquidity. The FY2026 improvement can support debt reduction and ongoing operations, although historical variability means cash generation is not fully consistent.
Read all positive factors
Healius Limited (HLS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$283.21M
Dividend Yield35.6%
Average Volume (3M)6.85M
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue Growth2.16%
EPS Growth21.05%
CountryAU
Employees6,000
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.57
Shares Outstanding726,178,800
10 Day Avg. Volume3,056,425
30 Day Avg. Volume6,852,500
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.65
Price to Sales (P/S)0.21
P/FCF Ratio1.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.45Price Target Upside3.18% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.01
Revenue Forecast (FY)AU$1.41B
Healius Limited Business Overview & Revenue Model
Company Description
Healius Limited is an Australian firm dedicated to delivering specialized diagnostic services to both individual consumers and healthcare practitioners. Its operations are structured into four primary segments: Pathology, Medical Imaging, Day Hosp...
How the Company Makes Money
Healius makes money mainly by delivering diagnostic services and charging for tests and scans performed through its pathology and diagnostic imaging networks. In pathology, revenue is generated when patient specimens (e.g., blood, tissue, swabs) a...
Healius Limited Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
44
Neutral
Cash Flow
67
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.37B | 1.34B | 1.75B | 1.71B | 2.29B |
| Gross Profit | 254.00M | 398.60M | 1.52B | 341.70M | 779.20M |
| EBITDA | 30.20M | 224.50M | -298.10M | -57.80M | 734.80M |
| Net Income | -415.60M | -151.20M | -645.80M | -367.80M | 307.90M |
Balance Sheet | |||||
| Total Assets | 1.42B | 1.78B | 2.98B | 3.65B | 4.14B |
| Cash, Cash Equivalents and Short-Term Investments | 67.20M | 57.20M | 60.10M | 115.30M | 81.30M |
| Total Debt | 998.70M | 911.80M | 1.60B | 1.77B | 1.78B |
| Total Liabilities | 1.25B | 1.19B | 1.94B | 2.15B | 2.22B |
| Stockholders Equity | 171.50M | 587.90M | 1.04B | 1.51B | 1.92B |
Cash Flow | |||||
| Free Cash Flow | 164.90M | 231.70M | 173.80M | 230.30M | 480.30M |
| Operating Cash Flow | 208.20M | 285.70M | 266.80M | 306.40M | 573.80M |
| Investing Cash Flow | -65.20M | 730.00M | -63.00M | 67.30M | -401.70M |
| Financing Cash Flow | -133.00M | -1.02B | -259.00M | -339.70M | -163.50M |
Healius Limited Technical Analysis
Negative
0.44
Price Trends
0.41
Negative
0.39
Negative
0.51
Negative
Market Momentum
>-0.01
Negative
47.34
Neutral
52.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HLS, the sentiment is Negative. The current price of 0.44 is above the 20-day moving average (MA) of 0.39, above the 50-day MA of 0.41, and below the 200-day MA of 0.51, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.34 is Neutral, neither overbought nor oversold. The STOCH value of 52.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HLS.
Healius Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$9.26B | 15.27 | 7.20% | 5.74% | 14.40% | 15.11% | |
60 Neutral | AU$780.58M | 35.63 | 3.24% | 4.39% | 25.73% | 390.83% | |
56 Neutral | AU$278.59M | 37.70 | 2.95% | 3.52% | -0.90% | -70.25% | |
54 Neutral | AU$540.91M | 23.62 | 15.80% | 4.45% | -0.90% | -25.09% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$283.21M | -0.70 | -114.08% | 35.60% | 2.16% | 21.05% | |
46 Neutral | AU$86.96M | -9.30 | -35.89% | ― | 1.36% | 39.13% |
* Healthcare Sector Average
AU:HLS
Healius Limited
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Healius Limited Corporate Events
Mitsubishi UFJ Exits Substantial Holder Position in Healius
Oct 1, 2026
Mitsubishi UFJ Financial Group, Inc. has filed a notice that it has ceased to be a substantial holder in Healius Limited as of late September 2026. The change follows a series of trades, securities borrowing adjustments and transactions executed t...
Citi Group Entities Exit Substantial Holder Status in Healius
Oct 1, 2026
Citigroup Global Markets Australia Pty Limited and its related Citi group entities have notified Healius Limited that they ceased to be a substantial shareholder in the company as of 29 September 2026. The change reflects a series of adjustments i...
Mitsubishi UFJ’s First Sentier Investors Exit Substantial Holding in Healius
Sep 30, 2026
Mitsubishi UFJ Financial Group and its asset management arm First Sentier Investors have lodged a formal notice that they have ceased to be substantial shareholders in Healius Limited. The change, recorded under Australia’s Corporations Act ...
Healius to Sell Agilex Biolabs to Novotech in A$160m Deal
Sep 24, 2026
Healius Limited has agreed to sell its wholly owned subsidiary Agilex Biolabs to a Novotech Health Holdings unit for an enterprise value of A$160 million, implying a 19.8x multiple of Agilex’s FY2026 EBITDA. The deal is expected to generate ...
UBS exits substantial shareholder position in Healius
Sep 24, 2026
UBS Group AG and its related bodies corporate have notified Healius Limited that they have ceased to be a substantial shareholder in the company as of 22 September 2026. The change reflects a reduction in UBS’s relevant interest in Healius v...
Healius Halts Trading Ahead of Agilex Biolabs Sale Update
Sep 24, 2026
Healius Limited has requested and been granted a trading halt on its ASX-listed securities pending a material announcement related to the sale process of its Agilex Biolabs business. Trading was paused from the start of trade on 24 September 2026 ...
Healius Files Updated Corporate Governance Statement with ASX
Sep 22, 2026
Healius Limited has lodged its corporate governance statement and accompanying Appendix 4G with the ASX for the financial year ended 30 June 2026. The statement, current as of 22 September 2026, is available on the company’s website and has ...
Healius Tightens Governance and Security Framework in Line with ASX Standards
Sep 22, 2026
Healius reported that its corporate governance arrangements fully complied with the fourth edition of the ASX Corporate Governance Council’s recommendations for the year to 30 June 2026, underscoring its commitment to responsible management ...
Healius Expands Company Secretariat With New Appointment
Sep 22, 2026
Healius Limited has announced the appointment of Gillian Nairn as a Company Secretary, effective 22 September 2026, strengthening its corporate governance team. Existing Company Secretaries Kylie Brown and Andrew Thomson remain in their roles, wit...
State Street Units Exit Substantial Holder Position in Healius
Sep 22, 2026
State Street Global Advisors and related State Street Corporation subsidiaries have notified Healius Limited that they have ceased to be substantial holders in the company as of 18 September 2026. The change reflects a reduction in their relevant ...
Healius Sets Date and Hybrid Format for 2026 AGM
Sep 16, 2026
Healius Limited has confirmed the scheduling of its 2026 Annual General Meeting for Thursday, 22 October 2026, at 11:00am Sydney time. Shareholders, proxies and authorised representatives are invited to attend in person at Swissotel Sydney or part...
S&P Dow Jones Indices Unveils September 2026 S&P/ASX Rebalance
Sep 4, 2026
SP Dow Jones Indices has announced the September 2026 quarterly rebalance of the SP/ASX indices, triggering changes across the SP/ASX 50, 100, 200 and 300 benchmarks while leaving the SP/ASX 20 unchanged. The reshuffle, which introduces a raft of ...
Healius updates market on technical change to director shareholding
Aug 27, 2026
Healius Limited has disclosed an administrative change in the registered holding of shares owned by non-executive director Charles Taylor, with no alteration to his overall beneficial interest. The director continues to hold the same number of ord...
Healius updates director Sally Evans’ shareholding structure
Aug 27, 2026
Healius has disclosed a change in the registered holdings of Ordinary Shares held by non-executive director Sally Evans, with no change to her beneficial ownership. The adjustments reflect the expiry of restriction periods on shares issued under t...
Healius Updates Director Katherine Ostin’s Equity Holdings After Share Rights Vesting
Aug 27, 2026
Healius Limited has disclosed a change in the interests of non-executive director Katherine Ostin, reflecting updates to her holdings in ordinary and restricted shares in the company. The notice details both her direct and indirect interests, incl...
Citi Group Entities Exit Substantial Holder Status in Healius
Aug 27, 2026
Citigroup Global Markets Australia Pty Limited and its related entities have notified Healius Limited that they have ceased to be a substantial holder in the healthcare group as of 25 August 2026. The move follows a series of adjustments in releva...
Healius Seeks ASX Quotation for Additional Ordinary Shares
Aug 25, 2026
Healius Limited has lodged a new application with the ASX for quotation of additional ordinary fully paid shares. The filing covers 22,977 HLS securities, which are scheduled to be issued on August 27, 2026, following the exercise or conversion of...
Healius Director Paul Anderson Sees FY24 Performance Rights Lapse
Aug 18, 2026
Healius Limited has disclosed a change in the interests of director Paul Anderson, noting that his FY24 performance rights have lapsed without conversion into ordinary shares. Following this lapse, Anderson’s direct holding now consists sole...
Healius Cuts 3.4 Million Lapsed Performance Rights From Capital Base
Aug 18, 2026
Healius Limited has notified the market of the cessation of 3,400,891 performance rights, recorded under the ASX security code HLSAB, following the lapse of conditional rights that could not be satisfied. The instruments ceased on 18 August 2026, ...
Healius Sets Date and Timetable for 2026 Annual General Meeting
Aug 10, 2026
Healius Limited has scheduled its 2026 Annual General Meeting for 11:00am Sydney time on Thursday, 22 October 2026, with further details on the venue and agenda to follow in a formal notice. The company has also set Thursday, 20 August 2026 as the...
Healius appoints MUFG as new share registry provider
Aug 6, 2026
Healius Limited has announced a change in its share registry provider, transferring responsibility for maintaining its share register to MUFG Corporate Markets (AU) Limited from 10 August 2026. The company is urging shareholders and market partici...
Healius Sets Webcast for FY26 Results Release
Jul 30, 2026
Healius Limited will release its full-year FY26 financial results on 19 August 2026 and plans to brief analysts and investors via a webcast that same morning. The scheduled presentation is aimed at providing detailed commentary on the performance ...
JPMorgan Group Drops Below Substantial Holder Threshold in Healius
Jul 9, 2026
JPMorgan Chase Co. and several affiliated entities have notified Healius Limited that they have ceased to be substantial holders in the company as of 7 July 2026. The change reflects adjustments in securities lending arrangements, collateral hold...
Vanguard Group Cuts Stake Below Substantial Holder Level in Healius
Jul 6, 2026
Vanguard Group has notified Healius Limited that it has ceased to be a substantial holder in the Australian healthcare company as of 1 July 2026. The U.S. asset manager now holds 4.721% of Healius voting power, down from its previous substantial s...
Healius Updates Market on Lapse of Director Performance Rights
Jul 3, 2026
Healius Limited has disclosed a change in director Paul Anderson’s interests in the company’s securities, detailing the lapse of a portion of his performance rights. The announcement confirms that his direct holding of performance righ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.