MD US ( Pediatrix Medical) long

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๐Ÿ‡บ๐Ÿ‡ธ #invest #MD

Pediatrix Medical Group์€ ์—ฌ์„ฑ, ์‹ ์ƒ์•„, ์–ด๋ฆฐ์ด๋ฅผ ์œ„ํ•œ ์ „๋ฌธ ์˜๋ฃŒ ์„œ๋น„์Šค๋ฅผ ์ œ๊ณตํ•ฉ๋‹ˆ๋‹ค.
๋‹ค์Œ๊ณผ ๊ฐ™์€ ํ™œ๋™ ๋ถ„์•ผ๋ฅผ ํฌํ•จํ•ฉ๋‹ˆ๋‹ค.
์‹ ์ƒ์•„ ๊ด€๋ฆฌ
์ฃผ์‚ฐ๊ธฐํ•™
์†Œ์•„๊ณผ ์„ธ๋ถ€ ์ „๋ฌธ ๋ถ„์•ผ
์‹ ์ƒ์•„ ์ฒญ๋ ฅ ๊ฒ€์‚ฌ, ์›๊ฒฉ ์˜๋ฃŒ ๊ฐœ๋ฐœ ๋“ฑ์˜ ๊ธฐํƒ€ ์„œ๋น„์Šค

Pediatrix๋Š” ๋ณ‘์›๊ณผ ํ˜‘๋ ฅํ•˜์—ฌ ์ž„์ƒ ๋ถ€์„œ ๊ด€๋ฆฌ ๋ฐ ์ธ๋ ฅ ๋ฐฐ์น˜ ์„œ๋น„์Šค๋ฅผ ์ œ๊ณตํ•ฉ๋‹ˆ๋‹ค. ์—ฌ๊ธฐ์—๋Š” ์ฒญ๊ตฌ ๋ฐ ์ธ์‚ฌ์™€ ๊ฐ™์€ ํ–‰์ • ์—…๋ฌด๊ฐ€ ํฌํ•จ๋ฉ๋‹ˆ๋‹ค.

Pediatrix๋Š” 36๊ฐœ ์ฃผ์—์„œ ์‚ฌ์—…์„ ์šด์˜ํ•˜๊ณ  ์žˆ์œผ๋ฉฐ, ์•ฝ 400๊ฐœ์˜ ๋ณ‘์›๊ณผ ํ˜‘๋ ฅํ•˜์—ฌ 4,400๋ช… ์ด์ƒ์˜ ์˜์‚ฌ์™€ ์ž„์ƒ์˜๋ฅผ ํ•˜๋‚˜๋กœ ๋ชจ์œผ๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.

๋ณด๊ณ ์„œ์— ๋”ฐ๋ฅด๋ฉด:
์ฃผ๋‹น์ˆœ์ด์ต(EPS) $0.53 (์˜ˆ์ƒ $0.42); ๋งค์ถœ 4์–ต 6,884๋งŒ ๋‹ฌ๋Ÿฌ(์˜ˆ์ƒ 4์–ต 6,437๋งŒ ๋‹ฌ๋Ÿฌ)
์—ฐ๊ฐ„ ์กฐ์ • EBITDA ๊ฐ€์ด๋˜์Šค๋Š” 2์–ต 4,500๋งŒ~2์–ต 5,500๋งŒ ๋‹ฌ๋Ÿฌ๋กœ ์ƒํ–ฅ ์กฐ์ •
์ธ๊ฑด๋น„ ์ฆ๊ฐ€์„ธ ๋‘”ํ™”
์ˆœ์ด์ต(OCF) 1์–ต 3,800๋งŒ ๋‹ฌ๋Ÿฌ(์ „๋…„ ๋™๊ธฐ 1์–ต 900๋งŒ ๋‹ฌ๋Ÿฌ ์ฆ๊ฐ€)
์ˆœ๋ถ€์ฑ„ ์•ฝ 3์–ต 8,000๋งŒ ๋‹ฌ๋Ÿฌ๋กœ ๊ฐ์†Œ
2์–ต 5,000๋งŒ ๋‹ฌ๋Ÿฌ ๊ทœ๋ชจ์˜ ์ž์‚ฌ์ฃผ ๋งค์ž… ํ”„๋กœ๊ทธ๋žจ ์‹œ์ž‘

2024๋…„ ์ˆœ์ด์ต์€ ๋งˆ์ด๋„ˆ์Šค(-)๋กœ ๋–จ์–ด์กŒ์ง€๋งŒ, ํšŒ์‚ฌ๋Š” ์ตœ๊ทผ ๋ณด๊ณ ์„œ์—์„œ ํ‘์ž๋ฅผ ๊ธฐ๋กํ–ˆ์Šต๋‹ˆ๋‹ค.
EPS๋Š” ํ‘์ž ์ „ํ™˜ํ–ˆ์Šต๋‹ˆ๋‹ค. ์•ž์œผ๋กœ๋„ ํ‘์ž ๊ธฐ์กฐ๊ฐ€ ์œ ์ง€๋  ๊ฒƒ์œผ๋กœ ์˜ˆ์ƒ๋ฉ๋‹ˆ๋‹ค.

Valuation
Forward P/E 8.7
P/S 0.7
EV/EBITDA 7.2

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