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Fairly valued
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 4.37 Fair value 4.93 One-star price 5.57
Morningstar Quantitative Rating as of 28 OCT 2026.
Morningstar Quantitative Rating as of 28 OCT 2026. The slider runs from the five-star price (4.37) to the one-star price (5.57).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 5.01 |
| Price - 12 month high | 5.31 |
| Price - 12 month low | 4.06 |
| Pricing date | 28 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 7.21 |
| Market capitalization | 13,797.56 |
| 12 Month High price date | 7 AUG 2026 |
| 12 Month Low price date | 12 MAR 2026 |
| Volume - avg. trading volume for the last 3 months | 6.95 |
| Price - 1 Day % Change | 2.04% |
| Price - 13 week price percent change | -3.28% |
| Price - 26 week price percent change | 10.35% |
| Price - 5 Day % Change | 3.73% |
| Price - 52 week price percent change | 2.24% |
| Price - YTD price percent change | 4.59% |
| Price % Change Month To Date | 10.11% |
| EPS excluding extraordinary items - most recent fiscal year | 0.232 |
| EPS excluding extraordinary items - trailing 12 month | 0.232 |
| EPS Normalized - most recent fiscal year | 0.231 |
| Revenue/share - most recent fiscal year | 3.327 |
| Revenue/share - trailing 12 month | 3.327 |
| Book value per share - most recent fiscal year | 0.883 |
| Book value per share - most recent half-year | 0.883 |
| Book value (tangible) per share - most recent fiscal year | 0.625 |
| Book value (tangible) per share - most recent half-year | 0.625 |
| Cash per share - most recent fiscal year | 0.207 |
| Cash per share - most recent half-year | 0.207 |
| Cash Flow per share - most recent fiscal year | 0.166 |
| Cash Flow per share - trailing 12 month | 0.166 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.192 |
| EBITD per share - trailing 12 month | 0.328 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.232 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.232 |
| EPS including extraordinary items - most recent fiscal year | 0.232 |
| EPS including extraordinary items - trailing 12 month | 0.232 |
| Free Cash Flow per share - trailing 12 month | 0.133 |
| P/E excluding extraordinary items, most recent fiscal year | 21.59 |
| P/E Normalized, most recent fiscal year | 21.67 |
| Price to sales - most recent fiscal year | 1.51 |
| Price to Tangible Book - most fiscal year | 7.92 |
| Price to Free Cash Flow per Share - most recent fiscal year | 37.60 |
| Price to Cash Flow per share - trailing 12 month | 30.12 |
| Price to Book - most recent fiscal year | 5.68 |
| P/E excluding extraordinary items high, trailing 12 months | 31.43 |
| P/E excluding extraordinary items low, trailing 12 months | 19.40 |
| Net Debt, LFI | -177.80 |
| Net Debt, LFY | -296.50 |
| Dividend Yield - 5 Year Average | 3.98% |
| Dividend Yield - indicated annual dividend divided by closing price | 3.80% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 3.83% |
| Free Cash Flow - most recent fiscal year | 367.00 |
| LT debt/equity - most recent fiscal year | — |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 11.36% |
| LT debt/equity - most recent half-year | — |
| Total debt/total equity - most recent half-year | 11.78% |
| Free Cash Flow - trailing 12 month | 367.00 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 9,162.40 |
| Revenue - trailing 12 month | 9,162.40 |
| EBITD - most recent fiscal year | 904.50 |
| EBITD - trailing 12 month | 904.50 |
| Earnings before taxes - most recent fiscal year | 927.90 |
| Earnings before taxes - trailing 12 month | 927.90 |
| Net Income available to common - most recent fiscal year | 638.70 |
| Net Income available to common - trailing 12 months | 638.70 |
| Earnings before taxes Normalized - most recent fiscal year | 2,175.90 |
| Net Income Available to Common, Normalized - most recent fiscal year | 636.80 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.23 |
| Net Profit Margin % - 1st historical fiscal year | 7.05% |
| Net Profit Margin % - trailing 12 month | 7.05% |
| Operating margin - 1st historical fiscal year | 22.45% |
| Operating margin - trailing 12 month | 22.45% |
| Pretax margin - trailing 12 month | 10.13% |
| Pretax margin - 1st historical fiscal year | 10.13% |
| Operating Margin - 5 year average | 10.59% |
| Pretax Margin - 5 year average | 9.11% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 6.11% |
| Free Operating Cash Flow/Revenue, TTM | 4.01% |
| Net Profit Margin - 5 year average | 6.37% |
| Return on average assets - most recent fiscal year | 14.14% |
| Return on average assets - trailing 12 month | 14.14% |
| Return on average equity - most recent fiscal year | 27.29% |
| Return on average equity - trailing 12 month | 27.29% |
| Return on average assets - 5 year average | 11.68% |
| Return on average equity - 5 year average | 23.11% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 5.56% |
| EPS growth rate, 5 year | 7.71% |
| Growth rate% - dividend, 3 year | 10.80% |
| Revenue/share (5 yr growth) | 5.56% |
| Growth rate% - Revenue, 3 year | 7.32% |
| Growth rate% - EPS, 3 year | 7.64% |
| Book value per share growth rate, 5 year | 4.98% |
| Capital Spending growth rate, 5 year | 21.02% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 5.26% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Medibank (MPL) is Australia's largest private health insurer, covering ~3.9 million people across its two brands, Medibank and the more budget-focused ahm Health Insurance. The business model is straightforward: members pay premiums, Medibank pays claims, and the profit is the margin between the two, known as the management expense ratio and claims ratio spread.
Medibank Private (MPL) -5.6%: a modest beat with dividends up and premium revenue growth holding, while investment income was weaker and cost inflation persists.
Insurance companies are traditional winers of higher interest rate environments but we must be conscious today of where they hold their funds with the Fed still cutting rates, albeit it at a slightly slower pace than expected at the start of the week.
Health insurer MPL hasn’t looked back since it reported better first-half profits driven by impressive margins in its health insurance business in February. The stock has already advanced by well over 30% in 2025.
Thursday saw health insurer MPL soar +9.95% to a record high after reporting better first-half profits on more substantial margins in its health insurance business.
MPL -18.12%: the health insurer was hit hard after shares began trading again. The company said data of its 3.8m customers had been breached, with the hack likely including data of previous clients taking the total over 4m. The data was accessed after the login details of an employee were compromised, with data including names, addresses and Medicare numbers available...
MPL is already looking like another stock / market which has made a “failed pop” on the upside, last month’s report was a miss on profit expectations but this was because of losses in their investment portfolio, the underlying result was solid with good volume and margin trends obvious. Importantly FY23 guidance was upbeat targeting ongoing policy growth...
MPL +0.85%: Todays FY result missed profit expectations however that was a result of losses in their investment portfolio, the underlying result was solid with good volume and margin trends obvious. FY23 guidance and commentary was upbeat, with ongoing policy growth (+2.7%) and low claims inflation (2.3%). While we suspect the market will have ?? over the level of claims...
When we compare MPL and NHF the core takeout is that NHF probably fell sharply because it simply got ahead of itself from an optimism perspective, both stocks are again moving back in line with the last 5-years.
Last month MPL delivered an impressive 40% lift in profits for FY21 as the coronavirus delivered an expected strong tailwind to the business. People have significantly prioritized their health since the pandemic swept the world and who can blame them. The outlook for MPL is solid with the company fairly optimistic moving forward although...
MM is bullish towards MPL around $4.60
MM is neutral MPL ~$4.50
MM is bullish towards MPL around $4.80
MM is cautiously bullish on MPL below $5
MM likes MPL around $4.40
MM has no interest in MPL
MM is neutral to slightly bearish MPL
MM is neutral/bullish MPL ~$3.50
MM is neutral / bullish MPL
Previously owned by the Australian government, Medibank is the largest health insurer in Australia. Its two brands, Medibank Private and Ahm, cover around 5 million people. Medibank and Australia's fourth-largest health fund, NIB Holdings,are the only listed health insurers. In addition to private health insurance, the firm provides life, pet, and travel insurance, as well as health insurance for overseas students and temporary overseas workers. The Medibank Health divisionprovides healthcare services to businesses, governments, and communities across Australia and New Zealand.
Buy Hold Sell: 3 heavily sold-off stocks (and 2 now on fundies’ radars)
This episode was filmed on Wednesday 8th March 202
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