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

$6.68

24 Mar
2025

0.020

OPEN

$6.67

0.30%

HIGH

$6.72

1,032,364

LOW

$6.65

TARGET
$6.802 1.8% 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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 38.3 42.2 xxx
DPS (cps) xxx 29.0 27.6 xxx
EPS Growth xxx - 7.5% 10.2% xxx
DPS Growth xxx 3.6% - 4.8% xxx
PE Ratio xxx N/A 15.8 xxx
Dividend Yield xxx N/A 4.1% xxx
Div Pay Ratio(%) xxx 75.7% 65.4% xxx

Dividend yield today if purchased 3 years ago: 4.50%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.35

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: 05/09 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx38.3
DPS All xxxxxxxxxxxxxxx29.0
Sales/Revenue xxxxxxxxxxxxxxx3,413.9 M
Book Value Per Share xxxxxxxxxxxxxxx212.5
Net Operating Cash Flow xxxxxxxxxxxxxxx257.1 M
Net Profit Margin xxxxxxxxxxxxxxx5.47 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx18.69 %
Return on Invested Capital xxxxxxxxxxxxxxx14.48 %
Return on Assets xxxxxxxxxxxxxxx8.67 %
Return on Equity xxxxxxxxxxxxxxx18.69 %
Return on Total Capital xxxxxxxxxxxxxxx21.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx109.5 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 xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx299 M
Total Debt xxxxxxxxxxxxxxx307 M
Goodwill - Gross xxxxxxxxxxxxxxx371 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx275 M
Price To Book Value xxxxxxxxxxxxxxx3.46

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx48.6 M
Capex % of Sales xxxxxxxxxxxxxxx1.42 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx184 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,091 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

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Morgans

26/02/2025

3

Downgrade to Hold from Add

$7.06

5.69%

NIB Holdings' 1H25 net profit was in line with consensus but underlying operating profit was 8% higher, notes Morgans. 

The broker notes Australia Residents Health Insurance margin stabilised at the top of management's 5-7% guidance at 6.7%, following a decline in 2H24. The company expects 2H margin to also come at the top end of the range. 

NZ result was weak but in line with expectations, with the company expecting 2H to benefit from price increases of 20% and less working days.

Overall though, the broker believes its near-term forecasts were too optimistic in certain areas and pared it down after management commentary.

Target price, however, rises to $7.06 from $6.10 as the broker applied a 15.5x valuation multiple vs 13x on stabilisation of claims spikes.

Rating downgraded to Hold from Add.

FORECAST
Morgans forecasts a full year FY25 dividend of 29.00 cents and EPS of 41.80 cents.
Morgans forecasts a full year FY26 dividend of 32.10 cents and EPS of 45.10 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$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

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

03/03/2025

1

Buy

$7.00

4.79%

Goldman Sachs notes NIB Holdings' 1H25 underlying operating profit of $105.8m beat its forecast of $101.4m, and the highlight was the underlying net margin of 6.7% and reported margin of 7% beating its estimate of 6.5%.

The company also guided to margins at the higher end of the 6-7% target in 2H despite headwinds from NSW bed rate change and uncertainties around claims inflation and approved rate increases. 

The broker raised FY25-26 EPS estimates mainly on better margins. Target price rises to $7.0 from $6.5.

Buy rating maintained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 27.00 cents and EPS of 37.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 29.00 cents and EPS of 45.00 cents.
Access Extra Coverage Research History >

NHF STOCK CHART

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Mar 03 2025 - Weekly Reports

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