Fisher & Paykel Healthcare Corporation Limited (ASX: FPH) is a leading designer, manufacturer, and marketer of medical devices and systems for use in respiratory care, acute and chronic care, and the treatment of obstructive sleep apnoea. Headquartered in Auckland, New Zealand, the company supplies hospitals and homecare providers in more than 120 countries. With a strong emphasis on research and development, Fisher & Paykel Healthcare is known for its innovative, patient-focused technologies, including respiratory humidification systems and non-invasive ventilation solutions. The company has built a reputation for clinical excellence, operational reliability, and a commitment to improving patient outcomes across global healthcare markets.
Financial Performance: Anticipating Strong FY25 Results
Fisher & Paykel Healthcare is set to release its full-year financial results for FY25 on 28 May 2025. Analysts anticipate robust performance, building upon the company’s impressive interim results. In the first half of FY25, the company reported a record operating revenue of NZ$951.2 million, an 18% increase from the previous year, and a net profit after tax of NZ$153.2 million, up 43% year-over-year.
The company’s strategic focus on high-margin consumables, such as its F&P Solo™ and Nova™ masks, has bolstered revenue streams. These products have seen increased adoption in both hospital and homecare settings, contributing to the company’s strong financial performance.
Strategic Initiatives: Innovation and Expansion
Fisher & Paykel Healthcare continues to invest in innovation and infrastructure to support long-term growth. In March 2025, the company signed a construction contract for its fifth building on the East Tāmaki campus in Auckland, New Zealand, aiming to expand manufacturing capacity to meet growing global demand .
The company has also launched the F&P Nova™ nasal mask in New Zealand and Australia, targeting the treatment of obstructive sleep apnoea (OSA). This product launch aligns with the company’s strategy to diversify its product portfolio and address a broader range of respiratory conditions.
Fisher & Paykel Healthcare’s commitment to research and development is evident in its continuous rollout of innovative products and technologies. The company’s focus on enhancing patient outcomes and comfort positions it well in the competitive medical device market.
Market Positioning: Navigating Global Challenges
Fisher & Paykel Healthcare has demonstrated resilience amid global challenges, including new U.S. tariffs announced in April 2025, which impose a 10% tariff on products imported from China . Despite potential cost increases, the company’s diversified manufacturing footprint and strong market presence help mitigate these impacts.
The company’s shares have performed well, reflecting investor confidence in its strategic direction and financial health. As of May 2025, Fisher & Paykel Healthcare’s market capitalisation stands at approximately NZ$19.9 billion, with a price-to-earnings ratio of 162.0.
Fisher & Paykel Healthcare’s focus on innovation and operational excellence positions it for continued success in the global healthcare industry.