Highlights
KLSE: KPJ (5878)       KPJ HEALTHCARE BHD MAIN : Health Care
Last Price Today's Change   Day's Range   Trading Volume
0.925   -0.01 (1.07%)  0.925 - 0.94  3,152,700
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Financials


Market Cap: 4,104 Million

Market Cap 4,104 Million
NOSH 4,437 Million

Latest Audited Result:  31-Dec-2017

Latest Audited Result: 31-Dec-2017
Announcement Date 22-Mar-2018
Next Audited Result: 31-Dec-2018
Est. Ann. Date: 22-Mar-2019
Est. Ann. Due Date: 29-Jun-2019

Latest Quarter:  31-Dec-2018 [#4]

Latest Quarter: 31-Dec-2018 [#4]
Announcement Date 19-Feb-2019
Next Quarter: 31-Mar-2019
Est. Ann. Date: 30-May-2019
Est. Ann. Due Date: 30-May-2019
QoQ | YoY   29.11%  |    -13.04%

Annual (Unaudited) ( EPS: 4.04, P/E: 22.87 )

Revenue | NP to SH 3,308,117  |  179,444
RPS | P/RPS 74.55 Cent  |  1.24
EPS | P/E | EY 4.04 Cent  |  22.87  |  4.37%
DPS | DY | Payout % 1.96 Cent  |  2.12%  |  48.54%
NAPS | P/NAPS 0.44  |  2.09
YoY   8.39%
NP Margin | ROE 5.63%  |  9.16%
F.Y. | Ann. Date 31-Dec-2018  |  19-Feb-2019

T4Q Result ( EPS: 4.04, P/E: 22.87 )

Revenue | NP to SH 3,308,117  |  179,444
RPS | P/RPS 74.55 Cent  |  1.24
EPS | P/E | EY 4.04 Cent  |  22.87  |  4.37%
DPS | DY | Payout % 1.97 Cent  |  2.13%  |  48.77%
NAPS | P/NAPS 0.44  |  2.09
QoQ | YoY   -4.26%  |    10.56%
NP Margin | ROE 5.63%  |  9.16%
F.Y. | Ann. Date 31-Dec-2018  |  19-Feb-2019

Annualized Result ( EPS: 4.04, P/E: 22.87 )

Revenue | NP to SH 3,308,117  |  179,444
RPS | P/RPS 74.55 Cent  |  1.24
EPS | P/E | EY 4.04 Cent  |  22.87  |  4.37%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   6.71%  |    8.39%
NP Margin | ROE 5.63%  |  9.16%
F.Y. | Ann. Date 31-Dec-2018  |  19-Feb-2019



Business Performance

Business Performance (By Quarter)

Trailing 4 Quarters Trailing 8 Quarters
Available Quarters 4 Quarters 8 Quarters
Continuous Quarters Of Revenue Growth 2 / 4 50.00% 2 / 8 25.00%
Total Positive Profit Years 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Positive Profit 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Profit Growth 1 / 4 25.00% 1 / 8 12.50%
Continuous Quarters Of Adjusted EPS Growth 1 / 4 25.00% 1 / 8 12.50%
Total Dividend Years 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Dividend 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Dividend Growth 0 / 4 0.00% 0 / 8 0.00%
Continuous Quarters Of Adjusted Dps Growth 0 / 4 0.00% 0 / 8 0.00%
Average ROE 2.51% 2.72%
Average Net Profit Margin 5.62% 5.40%

Business Performance (By Year)

Last 5 Financial Years Last 10 Financial Years
Available Years 5 Years 10 Years
Continuous Years Of Revenue Growth 5 / 5 100.00% 10 / 10 100.00%
Total Positive Profit Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Positive Profit 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Profit Growth 3 / 5 60.00% 3 / 10 30.00%
Continuous Years Of Adjusted EPS Growth 3 / 5 60.00% 3 / 10 30.00%
Total Dividend Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend Growth 2 / 5 40.00% 2 / 10 20.00%
Continuous Years Of Adjusted Dps Growth 2 / 5 40.00% 2 / 10 20.00%
Average ROE 15.35% 15.35%
Average Net Profit Margin 5.44% 6.25%

Key Result

Key Result

T4Q Annualized Annual (Unaudited) Last 10 FY Average Last 5 FY Average
Revenue 3,308,117 3,308,117 3,308,117 2,436,302 2,983,064
NP to SH 179,444 179,444 179,444 139,087 154,854
Dividend 87,516 87,100 87,100 75,156 91,222
Adjusted EPS 4.04 4.04 4.04 3.15 3.50
Adjusted DPS 1.97 1.96 1.96 1.70 2.06

NP to SH = Net Profit Attributable to Shareholder, EPS = Earning Per Share, DPS = Dividend Per Share

All figures in '000 unless specified.

EPS & DPS's figures in Cent.


Growth

Growth (By Quarter)

LQ QoQ LQ YoY CQ YoY LQ vs Average of T4Q LQ vs Average of T8Q
Revenue 5.21% 3.55% 4.03% 4.39% 5.74%
NP to Owner 29.11% -13.04% 8.39% 18.86% 24.83%
Dividend -4.71% 18.92% 10.42% -3.76% 7.44%
Adj. EPS 29.11% -13.04% 8.39% 18.86% 24.83%
Adj. DPS -4.71% 18.92% 10.42% -3.76% 7.44%

LQ = Latest Quarter, CQ = Cumulative Quarter, T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, QoQ = Quarter on Quarter, YoY = Year on Year

Growth (By Year)

T4Q vs LFY T4Q vs AL5FY T4Q vs AL10FY AQR vs LFY AQR vs AL5FY AQR vs AL10FY LFY YoY LFY vs AL5FY LFY vs AL10FY
Revenue 0.00% 10.90% 35.78% 0.00% 10.90% 35.78% 4.03% 10.90% 35.78%
NP to Owner 0.00% 15.88% 29.02% 0.00% 15.88% 29.02% 8.39% 15.88% 29.02%
Dividend 0.59% -5.10% 15.19% - % - % - % 10.42% -5.65% 14.51%
Adj. EPS 0.00% 15.88% 29.02% 0.00% 15.88% 29.02% 8.39% 15.88% 29.02%
Adj. DPS 0.59% -5.10% 15.19% - % - % - % 10.42% -5.65% 14.51%

T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, AL5FY = Average of Last 5 Financial Years, AL10FY = Average of Last 10 Financial Years, LFY = Latest Financial Year AQR = Annualized Quarter Result, YoY = Year on Year

Analyze this stock with MQ Trader system
  3 people like this.
 
necro see announcement 60Millions warrant convert @ RM1.01 while warrant RM0.025 total cost RM1.035 current price RM1.06...walao must be bonus issue + new warrant in 3-5 years time frame
11/12/2018 3:56 PM
shpg22 Poor balance sheet + Poor dividend + Poor EPS growth + Poor FCF = Super Overpriced.
Downgrade fair price to 0.50
19/12/2018 1:32 PM
Shadows When is KPJ Manjung going to finish with it new extension? No one is working for past few months.
26/12/2018 10:08 PM
Catherine17 How to convert WB? I am a direct account
27/12/2018 11:19 AM
Penguin88 KPJ business is recession proof and resilient. I think it will be a good chance now to accumulate due to share price weakness.
04/01/2019 12:26 PM
shpg22 Yes it is recession proof. But u should be worry more on its poor management.
05/01/2019 1:14 AM
Gabriel Khoo Wait the expiry of warrant no worry now
05/01/2019 6:40 PM
necro poor management?..dick head your poor management...talk only valuation don't know la u shpg22...name also talk cock
07/01/2019 9:55 AM
shpg22 When ppl get too attached to a certain company (eg staff) they can get very emotionally when come to negative opinion. IHH or even TMCLIFE is a better value than KPJ
07/01/2019 10:04 AM
aminaruto Clearly they do not care of investors. Let the share slip despite good fundamentals. Lesson learnt never invest in counters related to Jcorp. Loss money got nothing. Trading can la. Got some popit the cow fast run from sluggish kpj!!
07/01/2019 10:44 AM
Junqi Kpj trading about the conversion price of its warrant of 1.01
Not really worth clnverting
09/01/2019 9:13 AM
Juan_Hardiez Watch closely KPJ. The share is already oversold and the price always shoots up eventhough the macd is buy cross below zero. The Kpj-cs is only 4.5 sen now. I’m targeting 10 sen
21/01/2019 8:41 AM
hoplanner Very stable at 1.07
24/01/2019 4:28 PM
Money122 Now in up trend
27/01/2019 10:09 AM
BrunoMars Post removed. Why?
27/01/2019 10:09 AM
Money122 1.50 coming
27/01/2019 10:10 AM
Money122 Tp 10.0 in long term
30/01/2019 4:31 AM
kyy_superinvestor A bunch of sohai buy high pe stock here ...tut tut
30/01/2019 10:18 PM
bowman Ex-rights on Jan 23. So technically, there is more certainty in sharebase. ie. no more conversion to dilute existing share base. This augurs well for this and we can expect a rise pretty soon in prices. In other words, it should be in uptrend, all things considered
31/01/2019 9:02 AM
Junqi There are still sizeable ESOS to be converted
at 0.91 cts
01/02/2019 4:00 PM
hoplanner Are you one of the staff?
02/02/2019 3:30 PM
commonsense KPJ has a proven track record in delivering both revenue and profit growth to its shareholders which is mainly derive from the increase of numbers from both the hospital (from only 19 in 2009 to now 25 hospitals as of early 2019) and available beds (from 2,503 to now 3,060).

Between FY09 to FY17 revenue grew from RM1,456mil to RM3,224mil (which is an average growth rate of 10.5%) while profit to shareholders grew from RM111mil to RM162mil (a slower average growth rate of 4.9%). 9m18 result fared a lot better with KPJ delivering a profit of around RM126mil during the period vs 9m17 profit of only RM101mil.

The issue with KPJ is not on the company’s business outlook but mainly on its very rich valuation. The 6 analysts covering the stock has an average profit to shareholder of RM187mil for FY18 and RM203mil in FY19. At the current price, this would mean that KPJ is already trading at a high valuation of 25.3x trailing PE and 23.3x fwd PE. At this valuation, most of the optimisms/ growth of the company would have already been baked into the share price.

If you are looking to diversify your portfolio outside of KPJ (relatively high valuation), I would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50.

Good luck.
05/02/2019 5:42 PM
James Ng https://klse.i3investor.com/blogs/general/193728.jsp
[转贴] [Facebook live:浅谈KPJ healthCare bhd (KPJ)] - James的股票投资James Share Investing
17/02/2019 12:55 PM
chanph Qtr looks ok
19/02/2019 7:36 PM
shpg22 Qtr looks ok. Price is not ok. Valuation highest among healthcare provider.
19/02/2019 10:31 PM
Junqi shpg22. Look at IHH PE 100, TMC PE 40. KPJ PE 28.
Highest valuation?.
20/02/2019 8:51 AM
shpg22 If its as simple as looking at the PE for valuation, everyone will be rich.
20/02/2019 9:54 AM
Gabriel Khoo Shpg22 then what valuatio you mentioned here? Contradict?
21/02/2019 8:19 PM
Penguin88 Previously EPF was selling aggressively and cap the price..hopefully now the price can perform after a good result
21/02/2019 10:32 PM
shpg22 You need to look at all angles for valuation. Current P/E, P/B, future growth & DY historical div payout, earning, book, Share Dilution, FCF, Debt/equity, Liquidity etc. It is not as simple as looking at P/E or else the fools will be filthy rich.
26/02/2019 11:58 AM
Junqi Someone forcing share price down
28/02/2019 7:10 PM
Got Offfer From UBS Shanghai - Bye Bye yaya typical conspiracy theory, operator lah big shark lah, press price down want to accumulate more lah
28/02/2019 7:11 PM
hoplanner Agree with Junqi. It happened a few times in the past 2 yrs. just recently it went down to 95sen and now the same cindy kate is conspiring. It an advantage to be big
01/03/2019 10:49 AM
Junqi Million of shares traded everyday, and the price stays almost unchanged
So strange. Anyone can explain?
05/03/2019 2:46 PM
Money122 I think it can trend higher
08/03/2019 10:47 AM
witchjaz KUALA LUMPUR (March 15): UOB Kay Hian analyst Philip Ching Wern Wong upgraded the recommendation on KPJ Healthcare Bhd to buy from hold.

* Price target (PT) raised to RM1.22 from RM1.04, implies 17% increase. KPJ Healthcare average PT is RM1.18.

* KPJ Healthcare had 8 buys, 9 holds, 1 sell previously: Bloomberg data

* Analysts haven't changed their consensus one-year target price for the stock in the past six months. Forecasts range from 96 sen to RM1.35.
15/03/2019 12:27 PM
Irwan0655 Testing
17/03/2019 10:26 PM
Shadows I notice Manjung hospital KPJ construction still hanging there for few months and no contractors is working. How much it will cost for incomplete constriction everyday.
26/03/2019 5:51 PM
hoplanner No wonder the price dropped suddenly, from 1.02 to o.95!
27/03/2019 6:12 PM
hoplanner ......to o.99! Soon o.95.
27/03/2019 6:13 PM
Junqi I notice EPF is lately collecting KPJ around 0.99 to 1.01
Maybe its a good time to follow.sooner or later it will push the price up
Anyway i feel KPJ is oversold and can collect
03/04/2019 7:24 PM
soon9913 who is selling to epf??
15/04/2019 5:58 PM
Junqi Million of esos shares flying around.
Esos price only 0.91
Most are not long term holders.Many had to borrow money from banks
to exercise their esos
15/04/2019 6:31 PM
Win188 it's good opportunity to buy KPJ below 1.00
17/04/2019 6:28 PM
soon9913 what happen drop so much today
17/04/2019 6:30 PM
hoplanner Tmrw AGM
17/04/2019 11:26 PM
Manekineko @Junqi, what do you mean by "Most are not long term holders. Many had to borrow money from banks to exercise their esos"? The employees?
25/04/2019 5:08 PM
Win188 price close below 1.00
27/04/2019 11:33 AM
Investeye Take opportunity to accumulate KPJ base on recent price dropped..
From the period 4th Feb ~ 29th Apr ( From 406,969,380 to 466,569,880 ) ; EPF had bought in close to 60 Mils shares !!
03/05/2019 9:17 PM
BringMeFly good time to accumulate
14/05/2019 10:30 PM