NIB HOLDINGS LIMITED (NHF)
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NHF - NIB HOLDINGS LIMITED

FNArena Sector : Insurance
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: N/A
Index: ASX100 | 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

$7.19

25 Jul
2024

-0.050

OPEN

$7.24

-0.69%

HIGH

$7.32

975,631

LOW

$7.18

TARGET
$8.127 13.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AUB . CVW . FCL . GDG . HLI . IAG . MPL . NOL . PSI . QBE . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
NHF: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 41.4 44.5 xxx
DPS (cps) xxx 28.0 30.3 xxx
EPS Growth xxx 39.9% 7.3% xxx
DPS Growth xxx 27.3% 8.1% xxx
PE Ratio xxx N/A 16.3 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 67.6% 68.1% xxx

Dividend yield today if purchased 3 years ago: 3.88%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.87

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: 07/03 - ex-div 15c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx41.4
DPS All xxxxxxxxxxxxxxx28.0
Sales/Revenue xxxxxxxxxxxxxxx3,121.7 M
Book Value Per Share xxxxxxxxxxxxxxx200.3
Net Operating Cash Flow xxxxxxxxxxxxxxx246.7 M
Net Profit Margin xxxxxxxxxxxxxxx6.33 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx23.42 %
Return on Invested Capital xxxxxxxxxxxxxxx17.39 %
Return on Assets xxxxxxxxxxxxxxx9.56 %
Return on Equity xxxxxxxxxxxxxxx23.42 %
Return on Total Capital xxxxxxxxxxxxxxx26.08 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx125.4 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx9 M
Long Term Debt xxxxxxxxxxxxxxx283 M
Total Debt xxxxxxxxxxxxxxx292 M
Goodwill - Gross xxxxxxxxxxxxxxx365 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx243 M
Price To Book Value xxxxxxxxxxxxxxx4.22

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx52.3 M
Capex % of Sales xxxxxxxxxxxxxxx1.68 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx597 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,077 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

0.3

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

03/07/2024

3

Neutral

$7.50

4.31%

nib Holdings lost its travel insurance relationship with Qantas Airways ((QAN)) in June 2023 which has continued into 2024.

Macquarie forecasts volumes will expand to around 39% of the pre-covid levels in the 2H24 due to the contract loss, as it represented around one-third of total policies in FY23.

Pricing increased by 10.1% in the June 2024 quarter compared to June 2023, with the analyst highlighting nib Holdings' travel division acts as a distributor not an underwriter.

Macquarie expects this division to remain -5% below consensus estimates for the next four years. Neutral rating and $7.50 target retained with no change to the broker's forecasts.

FORECAST
Macquarie forecasts a full year FY24 dividend of 31.00 cents and EPS of 41.10 cents.
Macquarie forecasts a full year FY25 dividend of 30.00 cents and EPS of 44.70 cents.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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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

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

08/03/2024

1

Buy

$8.10

12.66%

Goldman Sachs found the first half results from nib Holdings strong at the headline although the quality disappointed. Weakness in the non-core business units was in evidence while the result was boosted by reserve movements.

The broker awaits the outcome of the health insurance premium rate approval process to assess the implications. Earnings estimates are downgraded post the result and a Buy rating is maintained with the target lowered to $8.10 from $8.50.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 31.00 cents and EPS of 42.00 cents.
Goldman Sachs forecasts a full year FY25 dividend of 30.00 cents and EPS of 44.00 cents.
Access Stockbroker Research History >

NHF STOCK CHART

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