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

$7.68

29 Aug
2025

0.220

OPEN

$7.46

2.95%

HIGH

$7.75

2,018,776

LOW

$7.40

TARGET
$7.702 0.3% 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 45.3 xxx
DPS (cps) xxx 29.0 29.8 xxx
EPS Growth xxx 7.2% 10.3% xxx
DPS Growth xxx 0.0% 2.7% xxx
PE Ratio xxx N/A 16.8 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 70.6% 65.7% xxx

Dividend yield today if purchased 3 years ago: 3.59%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.80

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 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

0.1

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

5

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$xx.xx

xx.xx%

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xx/xx/xxxx

3

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Morgan Stanley

26/08/2025

3

Equal-weight

$7.85

2.21%

Following nib Holdings' FY25 results, Morgan Stanley raises its target to $7.85 from $6.75 and retains an Equal-weight rating. Industry View: In-Line.

The company delivered an underlying operating profit slightly ahead of Morgan Stanley and consensus, with profit up 11-12% on strong investment income.

Australian Residents Health Insurance (ARHI) margins of 7.3% were above management's 6-7% target, though boosted by reserve releases, note the analysts, and claims inflation slowed to 4.5%. FY26 ARHI net margin guidance of 6-7% aligns with the broker's 6.9% forecast.

New Zealand returned to profit in 2H25 with $7m, highlights the broker, though timing benefits played a role. FY26 profit of $13m is expected.

Morgan Stanley trims FY26 profit forecasts by -5% on lower ARHI margins and Thrive headwinds, but lifts FY27-28 by 1-3% on New Zealand recovery. Thrive faced compliance issues and will see lower revenue from removal of plan set-up fees.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 29.30 cents and EPS of 41.80 cents.
Morgan Stanley forecasts a full year FY27 dividend of 32.90 cents and EPS of 46.90 cents.

Ord Minnett

xx/xx/xxxx

2

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$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx 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

01/09/2025

2

Overweight

$8.00

4.17%

Jarden highlights nib Holdings' FY25 net profit was solid, 8.5% ahead of its profit and 10.9% higher than consensus, though the beat was more modest when tax benefit from historical tax losses is stripped out.

The result showed NZ business remediation is tracking faster than expected based on pricing and inflation trends. Progress toward profitability in health services continues and further cost-out opportunities were identified across the group.

The company guided to a positive group underlying operating profit for FY26 driven by Australian health insurance, NZ and momentum in adjacent businesses. 

Overweight. Target lifted to $8.00 from $7.75.

FORECAST
Jarden forecasts a full year FY26 dividend of 28.00 cents and EPS of 43.60 cents.
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 46.70 cents.
Access Extra Coverage Research History >

NHF STOCK CHART

FNArena News on NHF

1
Australian Broker Call *Extra* Edition – Sep 01, 2025

10:30 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 29-08-25

10:05 AM - Weekly Reports
3
FNArena Corporate Results Monitor – 26-08-2025

Aug 26 2025 - Australia
4
Next Week At A Glance – 14-18 Jul 2025

Jul 11 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Jul 07, 2025

Jul 07 2025 - Daily Market Reports

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