Health Care

The sector, Health Care, contains the industry groups:

and has the constituents:

Comparative Analysis

Income Statement

($'M) 2020 2021 $ Change % Change
Revenue 15,982.6 19,064.1 3,081.5 19.3
Less: Cost of Goods Sold -5,041.8 -6,083.5 -1,041.8 20.7
Gross Profit 21,024.4 25,147.7 4,123.2 19.6
Less: Operating Costs -7,412.5 -7,929.5 -517.0 7.0
Operating Profit 28,436.9 33,077.1 4,640.3 16.3
Less: Financing Costs -256.7 -259.4 -2.8 1.1
Earnings Before Tax 28,693.5 33,336.6 4,643.0 16.2
Less: Income Tax -627.4 -1,069.0 -441.7 70.4
Net Profit 29,320.9 34,405.6 5,084.7 17.3

Balance Sheet

($'M) 2020 2021 $ Change % Change
Current Assets 8,901.3 9,674.3 773.0 8.7
Non Current Assets 18,690.5 20,243.6 1,553.1 8.3
Assets 27,591.8 29,917.9 2,326.1 8.4
Current Liabilities 4,211.6 5,321.5 1,109.9 26.4
Non Current Liabilities 11,188.3 9,710.7 -1,477.6 -13.2
Liabilities 15,399.9 15,032.2 -367.7 -2.4
Equity 12,191.9 14,885.6 2,693.7 22.1

Cash Flow Statement

($'M) 2020 2021 $ Change % Change
Cash Flow from Operating Activities 3,848.6 5,664.7 1,816.1 47.2
Cash Flow from Financing Activities -1,179.4 -3,356.5 -2,177.0 184.6
Cash Flow from Investing Activities -1,701.6 -2,060.0 -358.3 21.1
Net Cash Flow 967.5 248.3 -719.2 -74.3
Foreign Exchange Fluctuations 19.5 0.2 -19.3 -99.2
Cash at the Beginning of the Period 1,394.4 2,381.4 987.0 70.8
Cash at the End of the Period 2,381.4 2,629.9 248.5 10.4

Ratio Analysis

Profitability

2020 2021 Change
Gross Profit Margin 131.5% 131.9% 0.4%
Operating Profit Margin 177.9% 173.5% -4.4%
Net Profit Margin 183.5% 180.5% -3.0%

Management Effectiveness

2020 2021 Change
Return on Assets 106.3% 115.0% 8.7%
Return on Equity 240.5% 231.1% -9.4%
Current Ratio 2.1 1.8 -0.3
Debt to Equity Ratio 1.3 1.0 -0.3

Valuation

2020 2021 Change  
Share Price ($) 155.80 158.78 2.98 1.9%
Ordinary Shares 929,225,088 933,047,064 3,821,976 0.4%
Market Capitalisation ($) 144,771,596,183 148,150,173,968 3,378,577,785 2.3%
Revenue per Share ($) 17.20 20.43 3.23 18.8%
Earnings per Share ($) 31.55 36.87 5.32 16.9%
Equity per Share ($) 13.12 15.95 2.83 21.6%
Dividends per Share ($) 1.39 1.48 0.09 6.4%
Dividend Yield 0.9% 0.9% 0.0%  
Price to Sales Ratio 9.1 7.8 -1.3 -14.2%
Price to Earnings Ratio 4.9 4.3 -0.6 -12.8%
Price to Book Ratio 11.9 10.0 -1.9 -16.2%