Announcement • May 19
Medibank Private Limited, Annual General Meeting, Nov 18, 2026 Medibank Private Limited, Annual General Meeting, Nov 18, 2026. Announcement • May 15
Medibank Private Limited to Report Fiscal Year 2026 Results on Aug 20, 2026 Medibank Private Limited announced that they will report fiscal year 2026 results at 4:12 PM, AUS Eastern Standard Time on Aug 20, 2026 Live News • May 07
Medibank Private Grows Memberships While Medibank Health Profit Momentum Continues Medibank reports growth in both resident and non-resident health insurance memberships.
Medibank Health profits are about 30% higher year-to-date.
The company is maintaining its FY26 outlook while focusing on hospital partnerships and added customer benefits in a price-competitive market.
For you as an investor, the key takeaway is that Medibank is pairing membership growth with profit momentum in its Medibank Health segment. The focus on hospital partnerships and customer benefits suggests the business is not just chasing volume but aiming to compete on value and service in what is described as an evolving, price-focused market.
The reaffirmed FY26 outlook indicates management is sticking with its existing medium-term plans despite competitive pressures. You may want to pay attention to how membership trends, Medibank Health profitability and the cost of delivering additional benefits develop over time, as these will shape how sustainable this value-focused approach is. Declared Dividend • Feb 23
First half dividend increased to AU$0.083 Dividend of AU$0.083 is 6.4% higher than last year. Ex-date: 26th February 2026 Payment date: 18th March 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (110% earnings payout ratio) nor is it covered by cash flows (219% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 22% to bring the payout ratio under control. EPS is expected to grow by 38% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 20
First half 2026 earnings: EPS misses analyst expectations First half 2026 results: EPS: AU$0.11 (down from AU$0.12 in 1H 2025). Revenue: AU$4.60b (up 4.9% from 1H 2025). Net income: AU$302.9m (down 11% from 1H 2025). Profit margin: 6.6% (down from 7.8% in 1H 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, while revenues in the Insurance industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Announcement • Feb 20
Medibank Private Limited Declares Fully Franked Interim Ordinary Dividend for the Six Months Ended December 31, 2025 , Payable on March 18, 2026 Medibank Private Limited announced the Board has determined a fully franked interim ordinary dividend of AUD 0.08300000 per share for the six months ended December 31, 2025, up 6.4% from the previous year. This dividend represents a 76.8% payout ratio of underlying NPAT, normalising for investment market returns; this is within our annual target payout range of 75%-85% of underlying NPAT. Key dates include: Ex-dividend Date is 26 February 2026; Record Date is 27 February 2026; Payment Date is 18 March 2026. Announcement • Dec 12
Medibank Private Limited to Report First Half, 2026 Results on Feb 19, 2026 Medibank Private Limited announced that they will report first half, 2026 results on Feb 19, 2026 Announcement • Nov 19
Medibank Private Limited Approves the Election of Dr. Lisa Mcintyre and Jacqueline Hey as Director Medibank Private Limited held its AGM on 19 November 2025, approved the election of Dr. Lisa McIntyre and Jacqueline Hey as a director. Announcement • Nov 13
Jay Weatherill to Retire as Board of Director of Medibank Private Limited, Effective 31 December 2025 Medibank Private Limited has announced that non-executive director The Hon Jay Weatherill AO will be retiring from the Medibank Board, effective 31 December 2025, following his recent appointment as the Australian High Commissioner to the United Kingdom. Mr. Weatherill was appointed a director in March 2024 and has served as a member of the Audit Committee and Risk Management Committee. Declared Dividend • Aug 30
Final dividend of AU$0.10 announced Shareholders will receive a dividend of AU$0.10. Ex-date: 10th September 2025 Payment date: 9th October 2025 Dividend yield will be 3.5%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (159% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 10.0% to bring the payout ratio under control. EPS is expected to grow by 28% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 28
Full year 2025 earnings released: EPS: AU$0.18 (vs AU$0.18 in FY 2024) Full year 2025 results: EPS: AU$0.18 (up from AU$0.18 in FY 2024). Revenue: AU$8.81b (up 9.7% from FY 2024). Net income: AU$500.8m (up 1.7% from FY 2024). Profit margin: 5.7% (down from 6.1% in FY 2024). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, while revenues in the Insurance industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 04
Medibank Private Limited Announces Consumer Class Action Update The Federal Court has published its decision in the consumer class action on Medibank's claim for legal professional privilege over certain third-party reports and correspondence concerning the 2022 cybercrime event. The Court held that the reports prepared by Deloitte were not subject to legal professional privilege and upheld Medibank's claims to legal professional privilege in respect of the remaining third-party reports and correspondence. Medibank has applied for leave to appeal the decision in relation to the reports by Deloitte. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Jay Weatherill was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Mar 03
First half dividend increased to AU$0.078 Dividend of AU$0.078 is 8.3% higher than last year. Ex-date: 6th March 2025 Payment date: 26th March 2025 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is covered by cash flows (83% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 7.5% to bring the payout ratio under control. EPS is expected to grow by 27% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 01
First half 2025 earnings: EPS exceeds analyst expectations First half 2025 results: EPS: AU$0.12 (down from AU$0.13 in 1H 2024). Revenue: AU$4.39b (up 7.5% from 1H 2024). Net income: AU$340.3m (flat on 1H 2024). Profit margin: 7.8% (down from 8.4% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, while revenues in the Insurance industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Announcement • Mar 01
Medibank Private Limited Announces Ordinary Dividend for the Six Months Ended December 31, 2024, Payable on March 26, 2025 Medibank Private Limited announced ordinary dividend of AUD 0.07800000 per security for the six months ended December 31, 2024. Record Date: March 7, 2025, Ex Date: March 6, 2025 and Payment Date: March 26, 2025. New Risk • Feb 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.9% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (137% payout ratio). Profit margins are more than 30% lower than last year (5.9% net profit margin). Price Target Changed • Feb 28
Price target increased by 8.3% to AU$4.47 Up from AU$4.13, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of AU$4.42. Stock is up 23% over the past year. The company is forecast to post earnings per share of AU$0.23 for next year compared to AU$0.18 last year. Announcement • Dec 20
Medibank Private Limited to Report First Half, 2025 Results on Feb 27, 2025 Medibank Private Limited announced that they will report first half, 2025 results on Feb 27, 2025 Announcement • Sep 13
Medibank Private Limited, Annual General Meeting, Nov 13, 2024 Medibank Private Limited, Annual General Meeting, Nov 13, 2024. Location: the edge auditorium, federation square, corner swanston street and flinders street, melbourne Australia Declared Dividend • Aug 24
Final dividend of AU$0.094 announced Shareholders will receive a dividend of AU$0.094. Ex-date: 4th September 2024 Payment date: 26th September 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 117x earnings). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 12,926% to bring the payout ratio under control. EPS is expected to grow by 127% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Aug 24
Medibank Private Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2024, Payable on September 26, 2024 Medibank Private Limited announced Ordinary fully franked dividend of AUD 0.09400000 per share for the six months ended June 30, 2024. Ex Date is September 4, 2024. Record Date is September 5, 2024. Payment Date is September 26, 2024. Reported Earnings • Aug 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: AU$0.18 (down from AU$0.19 in FY 2023). Revenue: AU$8.03b (up 7.1% from FY 2023). Net income: AU$3.90m (down 99% from FY 2023). Profit margin: 0% (down from 6.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Jay Weatherill was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 24
First half dividend increased to AU$0.072 Dividend of AU$0.072 is 14% higher than last year. Ex-date: 29th February 2024 Payment date: 20th March 2024 Dividend yield will be 4.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but not covered by cash flows (123% cash payout ratio). The dividend has increased by an average of 12% per year over the past 9 years and payments have been stable during that time. EPS is expected to decline by 5.2% over the next 3 years. However, it would need to fall by 31% to increase the payout ratio to a potentially unsustainable range. New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (123% cash payout ratio). Reported Earnings • Feb 23
First half 2024 earnings: EPS exceeds analyst expectations First half 2024 results: EPS: AU$0.13 (up from AU$0.061 in 1H 2023). Revenue: AU$4.08b (up 12% from 1H 2023). Net income: AU$343.2m (up 103% from 1H 2023). Profit margin: 8.4% (up from 4.7% in 1H 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 33%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, while revenues in the Insurance industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 23
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from AU$8.06b to AU$8.18b. EPS estimate increased from AU$0.19 to AU$0.211 per share. Net income forecast to grow 5.8% next year vs 30% growth forecast for Insurance industry in Australia. Consensus price target broadly unchanged at AU$3.89. Share price fell 3.2% to AU$3.65 over the past week. Announcement • Dec 20
Medibank Private Limited to Report First Half, 2024 Results on Feb 22, 2024 Medibank Private Limited announced that they will report first half, 2024 results on Feb 22, 2024 Announcement • Oct 05
Medibank Private Limited Announces Changes to Executive Leadership Team Medibank Private Limited announced changes to its executive leadership team. Felicia Trewin will be appointed Group Lead - Data & Technology and Robert Read will be appointed Group Lead - Amplar Health. The latter follows Dr. Andrew Wilson's decision to step back from the executive leadership team and take on the role of Group Chief Medical Officer in a part time capacity. As Group Lead - Data & Technology, Felicia will have a dedicated focus on technology, security, data management and core platforms. Felicia has been Chief Technology Officer at AMP since March 2022. She has more than 25 years of experience in technology including having been the CIO at AustralianSuper, and having previously worked at ANZ, Deloitte, Microsoft and Accenture. Felicia will begin in the role in early 2024 with Kylie Williamson continuing to act in the role until that time. As Group Lead - Amplar Health, Rob will be responsible for Medibank's growing role as a health services provider. This includes responsibility for the health services deliver on behalf of PHI business and external customers in the private and public sector, including telehealth, in-home care, and healthcare investments. Rob joined Medibank in June 2022 as Amplar Health Chief Commercial Officer. In this role he has been responsible for evolving the health services strategy including focus on virtual health and growing prevention services. Prior to that, Rob was CEO and MD at MedAdvisor Ltd. and has also held senior roles at GSK PLC and as an investor in both venture capital and private equity. Rob will begin in the role on 13 November 2023 with a transition period with Andrew. As Group Chief Medical Officer, Andrew will be responsible for clinical oversight across the business as look to support the triple aim of health: better outcomes, better affordability and better experiences. Andrew has 25 years of experience in the health system and remains a practising clinician and lecturer. Andrew will continue to represent Medibank on a number of investment Boards. Andrew will transition to the role of Group Chief Medical Officer and will carry out the role on a part time basis. Andrew will report to CEO David Koczkar in his new role. As a result of these changes, the executive leadership team will comprise: Chief Executive Officer, David Koczkar Group Lead - People, Spaces & Sustainability, Kylie Bishop Group Lead - Digital & Ventures, Rob Deeming Group Lead - Chief Customer Officer, Milosh Milisavljevic Group Lead - Trust, Legal & Compliance, Group General Counsel and Company Secretary, Mei Ramsay Group Lead - Amplar Health, Robert Read Group Lead - Chief Financial Officer & Group Strategy, Mark Rogers Group Lead - Policy, Advocacy & Reputation, Meaghan Telford Group Lead - Data & Technology, Felicia Trewin. Announcement • Sep 21
Anna Bligh to Retire as Non-Executive Director of Medibank Private Limited At the Conclusion its Annual General Meeting on 22 November 2023 Medibank Private Limited announced that non-executive director, Anna Bligh has decided to retire from the Board at the conclusion of the Medibank Annual General Meeting on 22 November 2023. Anna joined the Board in December 2012 and has been a member of the Risk Management Committee,People and Remuneration Committee and the Investment and Capital Committee. Anna joined the Board prior to Medibank's listing on the Australian Securities Exchange ushering the company through the transition from government-owned to privatisation. Anna has brought extensive experience in leadership and public policy, including in healthcare. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.083 per share at 4.1% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 05 October 2023. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 4.1%. Lower than top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (3.3%). Announcement • Aug 24
Medibank Private Limited Fully Franked Final Ordinary Dividend for the Six Months Ended 30 June 2023, Payable on 5 October 2023 Medibank Private Limited announced that a fully franked final ordinary dividend of 8.30 cents per ordinary share was determined on 24 August 2023 in respect of the six months ended 30 June 2023. This dividend is payable on 5 October 2023 to shareholders on the register at close of business on 14 September 2023. Ex dividend date is September 13, 2023. Reported Earnings • Aug 24
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: AU$0.19 (up from AU$0.14 in FY 2022). Revenue: AU$7.29b (up 2.6% from FY 2022). Net income: AU$511.1m (up 30% from FY 2022). Profit margin: 7.0% (up from 5.5% in FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Announcement • Jul 28
Medibank Private Limited Announces Executive Changes, Effective 31 July 2023 Medibank Private Limited announced the executive leadership changes: Group Lead - Chief Financial Officer & Group Strategy - Mark Rogers continues to hold this role with responsibility for finance, actuarial, treasury, internal audit, investor relations, strategy development and M&A. Mark adds procurement to his portfolio of responsibilities. Group Lead - Chief Customer Officer - Milosh Milisavljevic will take on this expanded role. This role brings together the Medibank and ahm brands including marketing, customer channels, customer portfolios, Live Better and diversified insurance. Group Lead - Chief Executive Amplar Health - Dr. Andrew Wilson continues in this role. Andrew is responsible for Medibank's growing role as a health services provider. This includes responsibility for the health services deliver on behalf of business and government, including telehealth, in-home care, and investments in primary care and ambulatory care. Group Lead - Digital & Ventures - Rob Deeming takes on a new role to accelerate growth in health through the development of digitally-led health products and services for customers and the community. Rob maintains his responsibility for the group digital team supporting insurance and health businesses. Group Lead - Data & Technology - this role will have a dedicated focus on technology, data management and core platforms. An internal and external recruitment process is underway. In the interim Kylie Williamson will continue to act in this role. Group Lead - Trust, Legal & Compliance and Company Secretary - Mei Ramsay will continue to hold this role, with responsibility for customer trust added to her existing portfolio of legal, governance, compliance and regulatory affairs. Mei continues as Company Secretary. Group Lead - People, Spaces & Sustainability - Kylie Bishop will continue to hold this role, with additional responsibility for spaces (property). Kylie continues to lead the key people functions, as well as leading environmental, social and governance focus areas. Group Lead - Policy, Advocacy & Reputation - this is a new role to the executive leadership team. Meaghan Telford will have responsibility for government and industry relations, health stakeholders, health policy, reputation and external communications. Meaghan has been with the company for more than 7 years. These roles report directly to the CEO. The changes are effective 31 July 2023. Reported Earnings • Feb 24
First half 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2023 results: EPS: AU$0.085 (up from AU$0.08 in 1H 2022). Revenue: AU$3.69b (up 2.0% from 1H 2022). Net income: AU$233.3m (up 5.9% from 1H 2022). Profit margin: 6.3% (up from 6.1% in 1H 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 7.6%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Announcement • Feb 07
Medibank Announces Class Action Filed in the Federal Court of Australia Medibank announced class action against Medibank was filed in the Federal Court of Australia. Medibank understands that these proceedings have been brought on behalf of current and former customers in relation to the cybercrime event Medibank has previously reported and are being brought by Baker & McKenzie and funded by Omni Bridgeway. The statement of claim includes allegations of breach of contract, contraventions of the Australian Consumer Law, and breach of equitable obligations of confidence. Medibank continues to support its customers from the impact of the cybercrime through our previously announced Cyber Response Support Program which includes mental health and wellbeing support, identity protection and financial hardship measures. Announcement • Dec 16
Medibank Private Limited to Report First Half, 2023 Results on Feb 23, 2023 Medibank Private Limited announced that they will report first half, 2023 results on Feb 23, 2023 Buying Opportunity • Dec 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be AU$3.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 7.3% per annum over the same time period. Price Target Changed • Nov 16
Price target decreased to AU$3.36 Down from AU$3.75, the current price target is an average from 13 analysts. New target price is 19% above last closing price of AU$2.81. Stock is down 19% over the past year. The company is forecast to post earnings per share of AU$0.17 for next year compared to AU$0.14 last year. Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from AU$7.64b to AU$7.52b. EPS estimate also fell from AU$0.18 per share to AU$0.17 per share. Net income forecast to grow 16% next year vs 103% growth forecast for Insurance industry in Australia. Consensus price target down from AU$3.84 to AU$3.45. Share price fell 20% to AU$2.81 over the past week. Price Target Changed • Oct 28
Price target decreased to AU$3.45 Down from AU$3.75, the current price target is an average from 13 analysts. New target price is 20% above last closing price of AU$2.87. Stock is down 14% over the past year. The company is forecast to post earnings per share of AU$0.17 for next year compared to AU$0.14 last year. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to AU$2.87, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Insurance industry in Australia. Total loss to shareholders of 3.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$4.84 per share. Upcoming Dividend • Aug 31
Upcoming dividend of AU$0.073 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 29 September 2022. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Australian dividend payers (6.6%). Higher than average of industry peers (2.8%). Reported Earnings • Aug 19
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: AU$0.14 (down from AU$0.16 in FY 2021). Revenue: AU$7.10b (up 1.0% from FY 2021). Net income: AU$393.9m (down 11% from FY 2021). Profit margin: 5.5% (down from 6.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 7.6%, compared to a 5.2% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Announcement • Aug 18
Medibank Private Limited Announces Distribution for the Six Months Ended June 30, 2022, Payable on September 29, 2022 Medibank Private Limited announced ordinary fully paid distribution of AUD 0.07300000 per share for the six months ended June 30, 2022, payable on September 29, 2022 with ex date of September 7, 2022 and record date of September 8, 2022. Recent Insider Transactions • Mar 30
Independent Non-Executive Director recently bought AU$151k worth of stock On the 22nd of March, Gerard Dalbosco bought around 48k shares on-market at roughly AU$3.11 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 27
First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2022 results: EPS: AU$0.08 (down from AU$0.082 in 1H 2021). Revenue: AU$3.61b (up 2.8% from 1H 2021). Net income: AU$220.2m (down 2.7% from 1H 2021). Profit margin: 6.1% (down from 6.4% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 4.6% compared to a 2.3% decline forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Announcement • Feb 26
Medibank Private Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended December 31, 2021, Payable on March 24, 2022 Medibank Private Limited announced ordinary fully paid dividend of AUD 0.06100000 for the six months ended December 31, 2021. Record date is March 7, 2022. Ex-date is March 4, 2022. The dividend will be payable on March 24, 2022. Announcement • Feb 25
Medibank Private Limited Appoints Kathryn Fagg Ao and Peter Everingham as Non-Executive Directors Effective 31 March 2022 Medibank Private Limited announced the appointment of Kathryn Fagg AO and Peter Everingham as non-executive directors effective 31 March 2022. "Kathryn is well known for her directorships and executive roles across a wide range of listed companies and industries. Given her leadership skills, extensive and diverse commercial and other experience and business capability, Kathryn will be a tremendous addition to the Board and they look forward to the contribution she will make. Ms. Fagg is a highly respected director and Chair with significant, wide-ranging senior commercial and operational experience. Ms. Fagg is currently a director of National Australia Bank Ltd. (since December 2019) and Djerriwarrh Investments Ltd. (since May 2014). She is also the Chair of CSIRO, Watertrust Australia Ltd. and Breast Cancer Network Australia, and a director of The Myer Foundation, the Grattan Institute and the Champions of Change Coalition. Buying Opportunity • Jan 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 5.7%. The fair value is estimated to be AU$4.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Upcoming Dividend • Sep 01
Upcoming dividend of AU$0.069 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 30 September 2021. Trailing yield: 3.6%. Lower than top quartile of Australian dividend payers (5.2%). In line with average of industry peers (3.6%). Announcement • Aug 26
Medibank Private Limited Provides Earnings Guidance for 2022 Medibank Private Limited provided earnings guidance for 2022. Whilst the business' underlying trajectory is tracking broadly in line with the Fiscal Year '22 organic operating profit milestone of $47.3 million, the likely closure of borders for much of Fiscal Year '22 is expected to temporarily impact operating earnings by approximately $4 million. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS AU$0.16 (vs AU$0.12 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$7.03b (up 3.7% from FY 2020). Net income: AU$441.2m (up 40% from FY 2020). Profit margin: 6.3% (up from 4.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Executive Departure • May 26
CEO & Director Craig Drummond has left the company On the 17th of May, Craig Drummond, was replaced as CEO by David Koczkar after 4.9 years in the role. As of March 2021, Craig personally held 1.36m shares (AU$3.6m worth at the time). Craig is the only executive to leave the company over the last 12 months. Under Craig's leadership, the company delivered a total shareholder return of 28%. Reported Earnings • Feb 25
First half 2021 earnings released: EPS AU$0.082 (vs AU$0.065 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$3.52b (up 1.4% from 1H 2020). Net income: AU$226.4m (up 27% from 1H 2020). Profit margin: 6.4% (up from 5.2% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Analyst Estimate Surprise Post Earnings • Feb 25
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 6.0% compared to a 2.4% decline forecast for the Insurance industry in Australia. Announcement • Feb 24
Craig Drummond to Retire as Chief Executive Officer of Medibank Private Limited on 30 June 2021 Medibank Private Limited announced that Craig Drummond will retire as Chief Executive Officer on 30 June 2021. Is New 90 Day High Low • Feb 19
New 90-day low: AU$2.79 The company is down 5.0% from its price of AU$2.93 on 20 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.15 per share. Announcement • Feb 05
Medibank Private Limited (ASX:MPL) entered into share purchase agreement to acquire 49%stake in Myhealth Medical Holdings Pty Ltd from Crescent Capital Partners Management Pty Ltd and others for AUD 63 million. Medibank Private Limited (ASX:MPL) entered into share purchase agreement to acquire 49%stake in Myhealth Medical Holdings Pty Ltd from Crescent Capital Partners Management Pty Ltd and others for AUD 63 million on February 5, 2021.Under the terms of agreement, Medibank is acquiring 49% of the ordinary shares of Myhealth Medical Holdings Pty Ltd, which represents a 33.4% economic interest in the Myhealth Medical Group when taking into account the interests of management and the local GP shareholders in Myhealth Medical Holdings Pty Ltd and its subsidiaries. if certain conditions are not met, Medibank may be required to acquire additional shares in Myhealth Medical Holdings Pty Ltd and pay additional consideration. The transaction will be funded entirely from existing cash resources. Medibank investment in Myhealth will support GPs to enhance the health and quality of life of their patients, which helps reduce high-cost hospital admissions and in turn alleviate pressure on the health system. GPs and Myhealth’s management will own the majority of the Myhealth group and continue to manage the day-to-day operations of the clinics. GPs will retain full clinical autonomy and each clinic sets its fees independently. Current doctor and management shareholders are retaining their shares in the Myhealth group and remain 100% committed to the company and their patients. Both Medibank’s Chief Financial Officer Mark Rogers and Group Executive Healthcare & Strategy Andrew Wilson will join the Myhealth Medical Holdings Pty Ltd board. Medibank’s investment in Myhealth will also give Myhealth GPs access to additional capabilities to improve data analytics and information management and enable Myhealth to continue its rapid growth, with further expansion of its clinical footprint. The transaction is not conditional on further regulatory approvals. Transaction is expected to be completed by March 31, 2021. The Myhealth group is expected to deliver EBITDA of approximately $21 million in FY21. The transaction is expected to be immediately EPS accretive Announcement • Dec 23
Medibank Private Limited to Report First Half, 2021 Results on Feb 24, 2021 Medibank Private Limited announced that they will report first half, 2021 results on Feb 24, 2021 Is New 90 Day High Low • Dec 21
New 90-day high: AU$3.04 The company is up 22% from its price of AU$2.50 on 22 September 2020. The Australian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.22 per share. Is New 90 Day High Low • Nov 13
New 90-day high: AU$2.90 The company is up 1.0% from its price of AU$2.86 on 14 August 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Insurance industry, which is also up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.78 per share. 
