AUB GROUP LIMITED (AUB)
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AUB - AUB GROUP LIMITED

FNArena Sector : Insurance
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: 3.3
Index: ASX200 | ASX300 | ALL-ORDS

AUB Group provides broking, underwriting and risk management services to clients in Australia and New Zealand. Formed in 1985 as Austbrokers Holdings, it became a listed company in 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$32.80

29 Nov
2024

0.350

OPEN

$32.30

1.08%

HIGH

$33.19

240,806

LOW

$32.12

TARGET
$36.398 11.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
CVW . FCL . GDG . HLI . IAG . MPL . NHF . NOL . QBE . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
AUB: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 125.7 170.6 xxx
DPS (cps) xxx 79.0 92.8 xxx
EPS Growth xxx 92.3% 35.7% xxx
DPS Growth xxx 23.4% 17.5% xxx
PE Ratio xxx N/A 19.2 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 62.9% 54.4% xxx

Dividend yield today if purchased 3 years ago: 3.50%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.41

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 06/09 - ex-div 59c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx125.7
DPS All xxxxxxxxxxxxxxx79.0
Sales/Revenue xxxxxxxxxxxxxxx1,016.6 M
Book Value Per Share xxxxxxxxxxxxxxx1,307.3
Net Operating Cash Flow xxxxxxxxxxxxxxx82.0 M
Net Profit Margin xxxxxxxxxxxxxxx13.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx9.82 %
Return on Invested Capital xxxxxxxxxxxxxxx6.65 %
Return on Assets xxxxxxxxxxxxxxx3.46 %
Return on Equity xxxxxxxxxxxxxxx9.82 %
Return on Total Capital xxxxxxxxxxxxxxx5.96 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx20 M
Long Term Debt xxxxxxxxxxxxxxx704 M
Total Debt xxxxxxxxxxxxxxx725 M
Goodwill - Gross xxxxxxxxxxxxxxx1,542 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,287 M
Price To Book Value xxxxxxxxxxxxxxx2.42

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx6.4 M
Capex % of Sales xxxxxxxxxxxxxxx0.63 %
Cost of Goods Sold xxxxxxxxxxxxxxx216 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx662 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx24 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

22/08/2024

1

Overweight

$37.65

14.79%

Morgan Stanley believes AUB Group reported FY24 earnings in line with forecasts and consensus with a 59c dividend, some 4% better than expected.

Internationally, management is trying to reproduce the A&NZ strategy with recent UK acquisitions. The Tysers synergies are coming in ahead of expectations.

Management's FY25 guidance sits some -7% below the broker's forecasts and -4% below consensus. Accordingly, EPS forecasts are tweaked by -0.5% and -3.3% for FY25/FY26, respectively.

AUB Group is the preferred insurance broker stock for Morgan Stanley, with an expected 9% EPS growth rate p.a. between FY24-FY27, trading on attractive valuation.

Morgan Stanley retains an Overweight rating. Target price $37.65. Industry view is In-Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 97.00 cents and EPS of 172.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 105.00 cents and EPS of 189.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

26/08/2024

1

Buy

$34.00

3.66%

Goldman Sachs observes the second half of FY24 underlying net profit was ahead of estimates but AUB Group has provided FY25 guidance that is lower than expected.

While the broker acknowledges some conservatism, historically there is the inclusion of technology costs associated with the NZ project Lola and the recruitment of new teams.

Premium rate increases have moderated to around 6% yet management has indicated this can be offset by increases in commission rates. Medium-term margin targets have been retained with further upgrades considered possible. Buy rating retained. Target is $34.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 89.00 cents and EPS of 169.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 98.00 cents and EPS of 188.00 cents.
Access Extra Coverage Research History >

AUB STOCK CHART

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