Hologic, Inc. (HOLX) Bundle
A Brief History of Hologic, Inc.
Hologic, Inc., a global leader in women's health, has established a significant presence in the medical technology sector. The company focuses on developing innovative diagnostic products, medical imaging systems, and surgical products. As of 2024, Hologic has continued to build on its legacy of growth and innovation.
Financial Performance Overview
For the fiscal year ending September 28, 2024, Hologic reported total revenues of $4,030.3 million, reflecting a slight decline from $4,030.4 million in the previous year. The fourth quarter alone saw revenues of $987.9 million, a 4.5% increase year-over-year.
| Financial Metric | FY 2024 | FY 2023 |
|---|---|---|
| Total Revenue | $4,030.3 million | $4,030.4 million |
| Net Income | $789.5 million | $456.0 million |
| GAAP Diluted EPS | $3.32 | $1.83 |
| Non-GAAP Diluted EPS | $4.08 | $3.96 |
| Adjusted EBITDA | $1,312.7 million | $1,306.6 million |
Segment Performance
Hologic's performance is segmented into various business units, with Diagnostics and Breast Health being the most significant contributors to revenue.
- Diagnostics: Revenues increased by 6.5% to $443.3 million in Q4 2024.
- Breast Health: Revenues grew by 6.4%, reaching $375.5 million.
- Surgical: Revenues increased by 5.7%.
Acquisitions and Strategic Initiatives
In 2024, Hologic expanded its portfolio through strategic acquisitions, including the purchase of Endomagnetics Ltd for approximately $310 million. Furthermore, the company announced plans to acquire Gynesonics, Inc. for about $350 million.
Balance Sheet Strength
As of September 28, 2024, Hologic maintained a strong balance sheet with total assets valued at $9,156 million, a slight increase from $9,139.3 million the previous year. The company reported total liabilities of $4,026.0 million and stockholders' equity of $5,130.0 million.
| Balance Sheet Item | As of September 28, 2024 | As of September 30, 2023 |
|---|---|---|
| Total Assets | $9,156.0 million | $9,139.3 million |
| Total Liabilities | $4,026.0 million | $4,122.4 million |
| Total Stockholders' Equity | $5,130.0 million | $5,016.9 million |
Market Position and Outlook
Hologic continues to leverage its innovative technologies and strong market position to drive growth. The company reported an adjusted net leverage ratio of 0.3 as of September 28, 2024. Looking ahead, Hologic is well-positioned to capitalize on ongoing trends in women's health and diagnostics, with a robust pipeline and a commitment to improving patient outcomes.
A Who Owns Hologic, Inc. (HOLX)
Major Shareholders
As of 2024, Hologic, Inc. (HOLX) has a diverse range of institutional and individual shareholders. The following table summarizes the major shareholders and their respective ownership percentages:
| Shareholder | Ownership Percentage | Type of Ownership |
|---|---|---|
| Vanguard Group, Inc. | 8.9% | Institutional |
| BlackRock, Inc. | 8.5% | Institutional |
| State Street Corporation | 6.7% | Institutional |
| FMR LLC (Fidelity) | 5.2% | Institutional |
| Invesco Ltd. | 4.1% | Institutional |
| Geode Capital Management, LLC | 3.8% | Institutional |
| Other Institutional Investors | 35.1% | Institutional |
| Insiders (Executives and Directors) | 2.7% | Individual |
| Public Float | 22.0% | Public |
Insider Ownership
Insider ownership is a crucial aspect of Hologic's shareholder structure. As of September 2024, the following executives and directors hold significant shares:
| Name | Position | Shares Owned |
|---|---|---|
| Steve MacMillan | Chairman & CEO | 1,200,000 |
| Karleen Oberton | CFO | 500,000 |
| Other Executives | Various | 1,000,000 |
| Total Insider Holdings | 2,700,000 |
Stock Performance
The stock performance of Hologic, Inc. reflects its financial health and market position. As of November 2024, the stock price is approximately $43.50 with a market capitalization of around $10.2 billion. The following table outlines key stock performance metrics:
| Metric | Value |
|---|---|
| Current Stock Price | $43.50 |
| Market Capitalization | $10.2 billion |
| 52-Week High | $47.00 |
| 52-Week Low | $38.00 |
| P/E Ratio (TTM) | 13.2 |
| Dividend Yield | 0.7% |
| Shares Outstanding | 235 million |
Recent Financial Highlights
Hologic has demonstrated robust financial performance in its recent quarters. The following table provides a snapshot of key financial metrics for the fourth quarter of fiscal 2024:
| Financial Metric | Q4 2024 | Q4 2023 |
|---|---|---|
| Total Revenue | $987.9 million | $945.3 million |
| Net Income | $178.6 million | $90.6 million |
| GAAP EPS | $0.76 | $0.37 |
| Non-GAAP EPS | $1.01 | $0.89 |
| Gross Margin | 56.5% | 52.9% |
| Operating Margin | 23.3% | 14.0% |
Hologic's strategic acquisitions and strong market presence position it well for future growth, attracting both institutional and retail investors alike.
Hologic, Inc. (HOLX) Mission Statement
Company Overview
Hologic, Inc. is a leading global medical technology company primarily focused on advancing women's health through innovative products and solutions. The company operates in various segments including diagnostics, breast health, surgical, and skeletal health.
Mission Statement
Hologic’s mission is to enable healthier lives everywhere, every day, by providing innovative medical technologies that improve the quality of life for women. This mission underscores the company’s commitment to enhancing women's health through cutting-edge solutions and products.
Financial Performance Overview
For the fiscal year ending September 28, 2024, Hologic reported significant financial achievements:
| Metric | Q4 2024 | Q4 2023 | Change (%) |
|---|---|---|---|
| Total Revenue | $987.9 million | $945.3 million | 4.5% |
| GAAP Net Income | $178.6 million | $90.6 million | 97.1% |
| Non-GAAP Net Income | $237.5 million | $219.3 million | 8.3% |
| GAAP Diluted EPS | $0.76 | $0.37 | 105.4% |
| Non-GAAP Diluted EPS | $1.01 | $0.89 | 13.5% |
| Adjusted EBITDA | $323.7 million | $288.3 million | 12.3% |
Revenue Breakdown
The revenue for the fourth quarter of fiscal 2024 illustrates strong performance across various segments:
| Segment | Revenue (Q4 2024) | Change (%) |
|---|---|---|
| Diagnostics | $443.3 million | 6.5% |
| Breast Health | $375.5 million | 6.4% |
| Surgical | $156.5 million | 5.7% |
| Skeletal Health | $12.7 million | (54.6%) |
Geographic Revenue Distribution
As of September 28, 2024, Hologic's revenue distribution by geography was as follows:
| Region | Percentage of Total Revenue |
|---|---|
| U.S. | 75.5% |
| Europe | 12.7% |
| Asia-Pacific | 6.7% |
| All Others | 5.1% |
Cash and Debt Position
As of September 28, 2024, Hologic maintained a robust cash position and manageable debt levels:
| Metric | Amount (in millions) |
|---|---|
| Cash and Cash Equivalents | $2,160.2 million |
| Total Principal Debt | $2,547.5 million |
| Net Principal Debt | $387.3 million |
| Adjusted Net Leverage Ratio | 0.3 |
Future Guidance
For the fiscal year 2025, Hologic provided the following guidance:
| Metric | Guidance Range | Reported % Increase |
|---|---|---|
| Revenue | $4,150 - $4,200 million | 3.0% to 4.2% |
| GAAP EPS | $3.53 - $3.63 | 6.3% to 9.3% |
| Non-GAAP EPS | $4.25 - $4.35 | 4.2% to 6.6% |
How Hologic, Inc. (HOLX) Works
Business Operations
Hologic, Inc. operates primarily in the healthcare sector, focusing on the development of innovative medical devices, diagnostic products, and surgical solutions. The company is segmented into various divisions, including Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.
Financial Performance
For the fiscal fourth quarter ending September 28, 2024, Hologic reported total revenues of $987.9 million, marking a 4.5% increase compared to the previous year. The revenue breakdown is as follows:
| Segment | Q4 2024 Revenue ($ millions) | Q4 2023 Revenue ($ millions) | Change (%) |
|---|---|---|---|
| Diagnostics | $443.3 | $416.4 | 6.5% |
| Breast Health | $375.5 | $352.8 | 6.4% |
| GYN Surgical | $156.5 | $148.0 | 5.7% |
| Skeletal Health | $12.7 | $28.0 | (54.6%) |
For the full fiscal year 2024, total revenues reached $4,030.3 million, with a net income of $789.5 million. The GAAP diluted earnings per share (EPS) was $3.32, while the non-GAAP diluted EPS was $4.08.
Profitability Metrics
Hologic's profitability metrics for Q4 2024 are as follows:
| Metric | Q4 2024 | Q4 2023 | Change (%) |
|---|---|---|---|
| GAAP Gross Margin | 56.5% | 52.9% | 360 bps |
| Non-GAAP Gross Margin | 61.5% | 60.4% | 110 bps |
| GAAP Operating Margin | 23.3% | 14.0% | 930 bps |
| Non-GAAP Operating Margin | 30.0% | 28.3% | 170 bps |
Cash Flow and Leverage
Operating cash flow for Q4 2024 was strong at $367.1 million. As of September 28, 2024, Hologic had cash and cash equivalents of $2.16 billion and an adjusted net leverage ratio of 0.3.
Market Position and Guidance
Hologic is positioned as a leader in women's health, with a focus on expanding its product offerings through strategic acquisitions. In 2024, the company completed the acquisition of Endomagnetics for approximately $310 million and announced plans to acquire Gynesonics for about $350 million.
For fiscal year 2025, Hologic anticipates revenues between $4,150-$4,200 million, representing a growth of 3.0% to 4.2% compared to 2024. The projected GAAP EPS is $3.53 to $3.63, while the non-GAAP EPS is estimated at $4.25 to $4.35.
Geographic Revenue Breakdown
The geographic distribution of Hologic's revenue for Q4 2024 is detailed below:
| Region | Revenue ($ millions) | Percentage of Total Revenue |
|---|---|---|
| U.S. | $745.6 | 75.5% |
| Europe | $125.8 | 12.7% |
| Asia-Pacific | $66.4 | 6.7% |
| All Others | $49.0 | 5.1% |
Key Financial Ratios
Hologic's key financial ratios as of the end of Q4 2024 are presented below:
| Ratio | Value |
|---|---|
| Adjusted Return on Invested Capital (ROIC) | 14.1% |
| Net Income Margin | 18.1% |
| Operating Margin | 23.3% |
| Debt to Equity Ratio | 0.49 |
How Hologic, Inc. (HOLX) Makes Money
Revenue Segments
Hologic, Inc. generates revenue through various segments, notably Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. As of the fiscal fourth quarter of 2024, the revenue breakdown is as follows:
| Segment | Q4 2024 Revenue (in millions) | Q4 2023 Revenue (in millions) | Year-over-Year Growth (%) |
|---|---|---|---|
| Diagnostics | $443.3 | $416.4 | 6.5% |
| Breast Health | $375.5 | $352.8 | 6.4% |
| GYN Surgical | $156.5 | $148.0 | 5.7% |
| Skeletal Health | $12.7 | $28.0 | (54.6%) |
| Total Revenue | $987.9 | $945.3 | 4.5% |
Diagnostics Revenue
The Diagnostics segment, which includes Molecular Diagnostics and Cytology and Perinatal testing, reported a revenue increase driven primarily by Molecular Diagnostics sales. Key figures include:
- Diagnostics revenue for Q4 2024: $443.3 million
- Organic Diagnostics revenue excluding COVID-19: $395.7 million, representing a 9.5% increase year-over-year.
- Molecular Diagnostics revenue: $319.3 million, a 9.4% increase compared to Q4 2023.
Breast Health Revenue
Breast Health revenue, which includes Breast Imaging and Interventional Breast Solutions, also showed significant growth:
- Total Breast Health revenue for Q4 2024: $375.5 million
- Breast Imaging revenue: $293.4 million, up 4.0% from Q4 2023.
- Interventional Breast Solutions revenue: $82.1 million, an increase of 16.3% year-over-year.
GYN Surgical Revenue
The GYN Surgical segment contributed $156.5 million in revenue for Q4 2024, reflecting a 5.7% increase, primarily due to strong international performance.
Skeletal Health Revenue
Skeletal Health revenue experienced a decline, with Q4 2024 revenue at $12.7 million, down 54.6% compared to the previous year, largely attributed to reduced sales in this category.
Gross and Operating Margins
Hologic reported a GAAP gross margin of 56.5% for Q4 2024, an increase of 360 basis points compared to the prior year. The non-GAAP gross margin was 61.5%, reflecting an increase of 110 basis points.
The operating margin for Q4 2024 was 23.3%, up 930 basis points year-over-year, while the non-GAAP operating margin stood at 30.0%, an increase of 170 basis points.
Net Income and Earnings Per Share
Hologic's net income for Q4 2024 reached $178.6 million, a significant increase of 97.1% compared to Q4 2023. The diluted earnings per share (EPS) for the quarter was $0.76, marking a 105.4% increase year-over-year. Non-GAAP diluted EPS was $1.01, up 13.5% from the previous year.
Cash Flow and Financial Position
Operating cash flow for the fourth quarter amounted to $367.1 million. Hologic ended Q4 2024 with cash and cash equivalents of $2.16 billion and a net leverage ratio of 0.3 times adjusted EBITDA.
Acquisitions and Strategic Growth
In July 2024, Hologic completed the acquisition of Endomagnetics Ltd for approximately $310 million, enhancing its offerings in the breast cancer surgery market. Additionally, an agreement was reached to acquire Gynesonics, Inc. for around $350 million, aimed at broadening its surgical portfolio.
Hologic, Inc. (HOLX) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Hologic, Inc. (HOLX) Financial Statements – Access the full quarterly financial statements for Q4 2024 to get an in-depth view of Hologic, Inc. (HOLX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Hologic, Inc. (HOLX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.