Ramsay Health Care Ltd
RHC: XASX (AUS)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| d^ | LOCK|h!&h | LOCK|hym%#RW |
Ramsay Health Care Earnings: France Weighs on Margins, but Benefits From Digital Investment Await
Narrow-moat Ramsay Health Care’s interim fiscal 2025 patient revenue grew 6% to AUD 8.5 billion, driven by volume growth and improved indexation. However, underlying EBIT of AUD 500 million fell 1%, with a 31% decline in France more than offsetting 6% and 31% growth in Australia and the UK, respectively. Management still guided to activity growth in all regions in fiscal 2025, but stopped short of reiterating underlying EBIT growth. We cut our fiscal 2025 underlying EBIT forecast by 6% to AUD 1.023 billion, implying a 1% decline year on year.
