Company Coverage
Alpha IVF (ALPHA MK): 4QFY26: Within Expectations As New Facilities Undergo Gestation
BUY (Maintained)
Current price:
Target price:
Upside:
RM0.26
RM0.33
+26.9%
Analyst
Highlights
- Earnings came in within expectations as regional operations saw increased contributions, supporting revenue growth.
- Gestating facilities against the absence of start-up costs incurred in the preceding quarter led to a partial recovery in margins.
Maintain BUY as Alpha IVF offers exciting regional growth. Unchanged target price of RM0.33.
Analysis
Within expectations. Alpha IVF registered a 4QFY26 core profit of RM13.9m (-13.5% yoy, 11.6% qoq). This brought FY26 core profit to RM53.6m (-10.6% yoy). This is within expectations, with earnings accounting for 100% and 101% of our and consensus full-year estimates respectively. Highlights for the quarter include improved contributions from Singapore and margins seeing a partial recovery following the gestation of newly launched IVF facilities amidst the absence of start-up costs incurred in the preceding quarter.
Highlights
- Earnings came in within expectations as regional operations saw increased contributions, supporting revenue growth.
- Gestating facilities against the absence of start-up costs incurred in the preceding quarter led to a partial recovery in margins.
Maintain BUY as Alpha IVF offers exciting regional growth. Unchanged target price of RM0.33.
Analysis
Within expectations. Alpha IVF registered a 4QFY26 core profit of RM13.9m (-13.5% yoy, 11.6% qoq). This brought FY26 core profit to RM53.6m (-10.6% yoy). This is within expectations, with earnings accounting for 100% and 101% of our and consensus full-year estimates respectively. Highlights for the quarter include improved contributions from Singapore and margins seeing a partial recovery following the gestation of newly launched IVF facilities amidst the absence of start-up costs incurred in the preceding quarter.
BUY (Maintained)
Current price:
Target price:
Upside:
RM0.26
RM0.33
+26.9%
Analyst
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