MEDIBANK PRIVATE LIMITED (MPL)
Share Price Analysis and Chart

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MPL

MPL - MEDIBANK PRIVATE LIMITED

FNArena Sector : Insurance
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: N/A
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Medibank Private is the largest Australian private health insurance provider. Previously an Australian Government business enterprise, established by the Whitlam government in 1975, it was privatised in 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.57

08 Oct
2026

0.020

OPEN

$4.55

0.44%

HIGH

$4.60

6,956,537

LOW

$4.54

TARGET
$5.075 11.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AUB . FCL . GDG . HLI . IAG . NHF . NOL . QBE . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
MPL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 23.2 25.2 xxx
DPS (cps) xxx 19.2 20.1 xxx
EPS Growth xxx 27.6% 8.5% xxx
DPS Growth xxx 6.7% 4.7% xxx
PE Ratio xxx N/A 18.4 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 82.8% 79.9% xxx

Dividend yield today if purchased 3 years ago: 5.58%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.14

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: 02/09 - ex-div 10.90c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic 16.014.318.617.918.223.2
DPS All 12.713.414.616.618.019.2
Sales/Revenue 6,984.4 M7,197.7 M7,460.1 M8,021.6 M8,532.8 M9,325.8 M
Book Value Per Share 69.270.675.783.784.888.3
Net Operating Cash Flow 498.2 M962.7 M258.2 M988.4 M514.1 M622.5 M
Net Profit Margin 6.32 %5.47 %6.85 %6.14 %5.87 %6.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed 23.72 %20.45 %25.36 %22.44 %21.58 %26.80 %
Return on Invested Capital 22.82 %19.88 %24.93 %21.57 %20.28 %24.82 %
Return on Assets 11.48 %9.29 %11.43 %10.85 %10.67 %13.51 %
Return on Equity 23.72 %20.45 %25.36 %22.44 %21.58 %26.80 %
Return on Total Capital 32.71 %27.83 %35.16 %31.22 %29.63 %36.58 %
Free Cash Flow ex dividends 154.1 M597.7 M-124.1 M554.5 M29.2 M93.6 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 202120222023202420252026
Short-Term Debt 28 M30 M31 M67 M64 M39 M
Long Term Debt 65 M47 M24 M152 M145 M235 M
Total Debt 93 M77 M55 M218 M209 M274 M
Goodwill - Gross 283 M283 M283 M402 M421 M586 M
Cash & Equivalents - Generic 672 M597 M421 M691 M649 M570 M
Price To Book Value 4.574.604.654.465.955.63

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex 35.1 M35.1 M41.9 M57.6 M69.8 M91.1 M
Capex % of Sales 0.50 %0.49 %0.56 %0.72 %0.82 %0.98 %
Cost of Goods Sold ------
Selling, General & Admin. Exp & Other 785 M958 M869 M385 M471 M645 M
Research & Development ------
Investments - Total 2,322 M2,865 M2,878 M3,060 M3,082 M2,949 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

0.5

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

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$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

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$xx.xx

xx.xx%

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UBS

21/08/2026

3

Neutral

$5.00

9.41%

Following on from yesterday's first read on Medibank Private's FY26, UBS notes that while the result was in line, with Health Insurance margins having likely topped-out as government scrutiny of hospital benefit ratios persists, incrementally slower top-line drivers are increasingly in focus.

Medibank's FY27 outlook for stable private health insurance margins and market share gains appears increasingly incongruous given a rising need to reinvest for growth, UBS suggests.

As a result, while yesterday's -6% share price fall appears overplayed, leaving improved value headroom, with margin and volume outcome risks skewed more to the downside, UBS retains a Neutral rating. Target falls to $5.00 from $5.15.

FORECAST
UBS forecasts a full year FY27 dividend of 20.00 cents and EPS of 25.00 cents.
UBS forecasts a full year FY28 dividend of 21.00 cents and EPS of 27.00 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

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

24/08/2026

3

Neutral

$4.65

1.75%

Jarden maintains its Neutral recommendation for Medibank Private with its target price reduced to $4.65 from $4.75 following an FY26 earnings result that was broadly in line with expectations.

The key feature of the result involved a miss in resident policyholders, which the company attributed to the removal of its ahm product from a major aggregator alongside a broader step-up in industry competitive intensity throughout the fourth quarter.

Against this backdrop, management reiterated its preference to grow in direct channels due to better economics, although this strategic shift hampered the ability to hold market share.

Medibank intends to combat these pressures via direct brand investment and a broader non-private health insurance offering.

The analyst highlights parallels to other financial services markets where customer distribution preferences ultimately outweigh brand strength, supporting the decision to lower the target price and maintain the Neutral rating.
Access Extra Coverage Research History >

MPL STOCK CHART

FNArena News on MPL

1
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 21-08-2026

Aug 21 2026 - Australia
3
Rudi’s View: The August Results Test Awaits

Jul 01 2026 - Rudi's View
4
Rudi’s View: Australia’s Sh*t Sandwich

Jun 04 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 10-04-26

Apr 13 2026 - Weekly Reports

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