NIB HOLDINGS LIMITED (NHF)
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NHF

NHF - NIB HOLDINGS LIMITED

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

nib Holdings is an Australian healthcare fund. Originally established in 1952 to provide health insurance to BHP steel workers, it became a listed company in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.81

12 Mar
2026

-0.140

OPEN

$5.86

-2.35%

HIGH

$5.89

1,438,177

LOW

$5.79

TARGET
$7.32 26.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AUB . CVW . FCL . GDG . HLI . IAG . MPL . NOL . QBE . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
NHF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 41.1 42.2 xxx
DPS (cps) xxx 29.0 28.0 xxx
EPS Growth xxx 7.2% 2.6% xxx
DPS Growth xxx 0.0% - 3.4% xxx
PE Ratio xxx N/A 14.3 xxx
Dividend Yield xxx N/A 4.6% xxx
Div Pay Ratio(%) xxx 70.6% 66.4% xxx

Dividend yield today if purchased 3 years ago: 4.12%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.81

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: 04/09 - ex-div 16.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx41.1
DPS All xxxxxxxxxxxxxxx29.0
Sales/Revenue xxxxxxxxxxxxxxx3,563.2 M
Book Value Per Share xxxxxxxxxxxxxxx225.7
Net Operating Cash Flow xxxxxxxxxxxxxxx165.7 M
Net Profit Margin xxxxxxxxxxxxxxx5.49 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx18.39 %
Return on Invested Capital xxxxxxxxxxxxxxx14.42 %
Return on Assets xxxxxxxxxxxxxxx9.09 %
Return on Equity xxxxxxxxxxxxxxx18.39 %
Return on Total Capital xxxxxxxxxxxxxxx20.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-7.1 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx23 M
Long Term Debt xxxxxxxxxxxxxxx287 M
Total Debt xxxxxxxxxxxxxxx310 M
Goodwill - Gross xxxxxxxxxxxxxxx325 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx229 M
Price To Book Value xxxxxxxxxxxxxxx3.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx53.6 M
Capex % of Sales xxxxxxxxxxxxxxx1.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx70 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,124 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

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

25/02/2026

3

Equal-weight

$7.40

27.37%

On further inspection, the target price is lowered to $7.40 from $7.50 and the EPS forecasts lowered by -6.4% in FY26.

No change to Equal-weight rating.

****

nib Holdings' 1H26 group underlying operating profit of $129.1m proved 4% higher than Morgan Stanley's estimate and up 5% versus consensus.

Health insurance operating profit at $104.3m beat expectations and margins of 6.8% were ahead of 6.6% consensus, while International and NZ also exceeded forecasts, although higher one-offs and lower investment income left net profit after tax in line.

Management's FY26 group operating profit guidance of $257-267m assumes full Travel earnings with the analyst and consensus forecasts at the upper end of guidance. 

The broker describes claims trends as mixed, noting headline claims inflation of 6.1% in 1H26 but underlying claims of 4.1%, and flags elevated lapse rates amid competitive pressures.

Morgan Stanley has retained an Equal-weight rating and $7.50 price target. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 37.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 45.30 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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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

1

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

03/03/2026

2

Overweight

$7.65

31.67%

The first half results from nib Holdings fell short of Jarden's expectations in two main areas: ARHI policy growth dropped to 2.2% and underlying operating profit in New Zealand was just 50% of estimates.

Forecasts are trimmed by -5-7% to reflect more modest growth in ARHI and a faster normalisation of the ARHI net margin. Given the downgrading impact of NZ results, the broker expects a recovery in that jurisdiction will be significantly more protracted.

With the stock trading at a -24% discount to its long-term average and rival Medibank Private ((MPL)), Jarden believes risks are appropriately factored in and reiterates an Overweight rating. Target is reduced to $7.65 from $8.20.

FORECAST
Jarden forecasts a full year FY26 dividend of 26.00 cents and EPS of 36.70 cents.
Jarden forecasts a full year FY27 dividend of 28.00 cents and EPS of 45.50 cents.
Access Extra Coverage Research History >

NHF STOCK CHART

FNArena News on NHF

1
Australian Broker Call *Extra* Edition – Mar 03, 2026

Mar 03 2026 - Daily Market Reports
2
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
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FNArena Corporate Results Monitor – 24-02-2026

Feb 24 2026 - Australia
4
Next Week At A Glance – 16-20 Feb 2026

Feb 13 2026 - Weekly Reports
5
Rudi’s View: Key Picks & Sector Favourites

Jan 22 2026 - Rudi's View

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