Austco Healthcare Limited

AHC.AX

Medical - Instruments & Supplies · Healthcare

Price

A$0.23

-0.01 (-2.17%)

Market Cap

A$84.3M

Exchange

Australian Securities Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

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Share count rising — dilution

+30.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 285.0M (2021) → 370.5M (2025)

Winston Score History

The full picture

Austco Healthcare makes communication and alert systems for hospitals and aged care facilities. Its main products are nurse call systems — the technology that lets patients press a button to call for help — along with staff duress alarms and clinical workflow software. The company sells to hospitals, nursing homes, and other healthcare facilities, primarily in Australia, North America, and the Middle East.

Austco earns revenue by selling hardware systems upfront and then charging ongoing fees for software, maintenance, and support contracts. Those recurring service contracts help create a steady income stream and make it harder for customers to switch to a competitor once a system is installed. The company is small, with a market cap around $100 million, but it operates across several continents. Its key growth opportunity is expanding its software and subscription revenue, while its main risk is competing against larger, better-funded global medical technology companies for new hospital contracts.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+26.0% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-55.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$4M/ year

↑ Rising (+97% vs prior year)

5.4% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

48.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$14M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Austco Healthcare Limited is growing revenue at 26% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

23.6%

Thin — 23.6% gross margin

Profit after running costs

Operating Margin

13.3%

Healthy — 13.3% operating margin

Return on the money invested

ROCE

17.4%

Strong — 17.4% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+28.4%

Fast-growing sales (+28.4% YoY)

Profit growth

EPS YoY

-20.5%

Earnings shrinking (-20.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

263%

Turns 263% of profit into real cash

Spare cash per sale

FCF Margin

18.7%

Converts sales into free cash efficiently (18.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.08

Conservative — low debt load (0.08)

Covers its interest

Interest Cover

34.34x

Comfortably covers interest (34.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

10.7x

Attractive valuation — P/E 10.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+1.7

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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