Old Mutual Past Earnings Performance

Past criteria checks 3/6

Old Mutual has been growing earnings at an average annual rate of 22.2%, while the Insurance industry saw earnings declining at 21.8% annually. Revenues have been declining at an average rate of 2.9% per year. Old Mutual's return on equity is 13%, and it has net margins of 7.1%.

Key information

22.2%

Earnings growth rate

22.6%

EPS growth rate

Insurance Industry Growth	-7.2%
Revenue growth rate	-2.9%
Return on equity	13.0%
Net Margin	7.1%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Old Mutual makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

LSE:OMU Revenue, expenses and earnings (ZAR Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	99,300	7,065	10,426
30 Sep 23	95,012	5,910	10,114
30 Jun 23	113,726	6,848	26,815
31 Mar 23	109,652	7,087	26,815
31 Dec 22	82,574	5,231	9,802
30 Sep 22	123,638	6,870	11,323
30 Jun 22	164,702	8,509	12,844
31 Mar 22	204,308	7,586	18,546
31 Dec 21	243,914	6,662	24,247
30 Sep 21	233,193	5,085	23,726
30 Jun 21	222,472	3,508	23,204
31 Mar 21	180,007	-794	23,375
31 Dec 20	137,542	-5,097	23,546
30 Sep 20	122,542	-3,574	23,634
30 Jun 20	107,542	-2,052	23,722
31 Mar 20	140,371	3,615	23,399
31 Dec 19	173,199	9,282	23,076
30 Sep 19	157,277	7,279	23,202
30 Jun 19	141,355	5,275	23,328
31 Mar 19	125,180	2,065	23,678
31 Dec 18	109,005	-1,145	24,028
30 Sep 18	138,405	-2,183	24,143
30 Jun 18	167,805	-3,222	24,258
31 Mar 18	171,676	-3,043	23,936
31 Dec 17	175,546	-2,864	23,613
30 Sep 17	112,642	-4,677	13,280
30 Jun 17	51,329	-6,113	3,452
31 Mar 17	76,651	-4,073	11,869
31 Dec 16	102,437	-2,116	20,345
30 Jun 16	246,461	9,141	60,911
31 Mar 16	272,474	10,450	68,786
31 Dec 15	299,736	11,858	77,192
30 Sep 15	304,435	13,345	77,782
30 Jun 15	295,655	12,704	70,723
31 Mar 15	278,345	11,466	65,228
31 Dec 14	277,250	10,927	63,615
30 Sep 14	306,214	9,868	65,562
30 Jun 14	327,073	8,528	65,731
31 Mar 14	330,325	9,947	63,506
31 Dec 13	341,656	11,550	62,961
30 Sep 13	331,689	10,803	59,312
30 Jun 13	318,456	10,006	55,325

Quality Earnings: OMU has a high level of non-cash earnings.

Growing Profit Margin: OMU's current net profit margins (7.1%) are higher than last year (6.3%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: OMU has become profitable over the past 5 years, growing earnings by 22.2% per year.

Accelerating Growth: OMU's earnings growth over the past year (35.1%) exceeds its 5-year average (22.2% per year).

Earnings vs Industry: OMU earnings growth over the past year (35.1%) did not outperform the Insurance industry 63.1%.

Old Mutual Past Earnings Performance

Past criteria checks 3/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: R1.58 (vs R1.66 in FY 2022)

Old Mutual Limited to Report Fiscal Year 2023 Results on Mar 28, 2024

Old Mutual Limited to Report First Half, 2023 Results on Sep 27, 2023

Full year 2022 earnings released: EPS: R1.66 (vs R1.51 in FY 2021)

Old Mutual Limited to Report Fiscal Year 2022 Results on Mar 14, 2023

First half 2022 earnings released: EPS: R1.18 (vs R0.68 in 1H 2021)

Recent updates

Old Mutual Limited, Annual General Meeting, May 31, 2024

Final dividend of R0.49 announced

Full year 2023 earnings released: EPS: R1.58 (vs R1.66 in FY 2022)

Old Mutual Limited Declares Final Dividend for the Year Ended 31 December 2023, Payable on 22 April 2024

Old Mutual Limited Provides Earnings Guidance for the Year Ended 31 December 2023

Old Mutual Limited Announces Directorate Change

Old Mutual Limited to Report Fiscal Year 2023 Results on Mar 28, 2024

Old Mutual Limited Declares an Interim Dividend, Payable on 23 October 2023

Old Mutual Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023

Old Mutual Limited to Report First Half, 2023 Results on Sep 27, 2023

Upcoming dividend of UK£0.023 per share at 6.4% yield

Full year 2022 earnings released: EPS: R1.66 (vs R1.51 in FY 2021)

Old Mutual Limited to Report Fiscal Year 2022 Results on Mar 14, 2023

Providence Life Assurance Company (Bermuda) Ltd acquired Old Mutual International from Old Mutual Limited (JSE:OMU) for $4.4 million.

Investor sentiment improved over the past week

Price target decreased to UK£0.69

Upcoming dividend of UK£0.013 per share

First half 2022 earnings released: EPS: R1.18 (vs R0.68 in 1H 2021)

Old Mutual Limited Declares an Interim Dividend, Payable on 17 October 2022

Old Mutual Limited Provides Earnings Guidance for the Period Ended 30 June 2022

Old Mutual Limited Announces Retirement of Marshall Rapiya as Non-Executive Director, Effective 31 July 2022

Price target increased to UK£0.87

Old Mutual Limited Announces Nosipho Molope Will Step Down from its Board

Old Mutual Limited, Annual General Meeting, May 27, 2022

Upcoming dividend of UK£0.026 per share

Old Mutual Limited to Report First Half, 2022 Results on Aug 29, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Price target increased to UK£0.87

Price target increased to UK£0.84

Old Mutual Limited to Report Fiscal Year 2021 Results on Mar 15, 2022

Price target decreased to UK£0.80

Price target decreased to UK£0.80

Brait PLC Reportedly Revives Plans to Exit Consol Glass

First half 2021 earnings released: EPS R0.68 (vs R1.29 loss in 1H 2020)

Price target increased to UK£0.79

Lead Independent Director has left the company

Independent Non-Executive Director has left the company

Upcoming dividend of UK£0.017 per share

Full year 2020 earnings released: R1.16 loss per share (vs R2.06 profit in FY 2019)

Old Mutual Limited, Annual General Meeting, May 21, 2021

New 90-day high: UK£0.72

Old Mutual Limited (JSE:OMU) acquired an additional unknown stake in Absa Group Limited (JSE:ABG).

Old Mutual Limited(LSE:OML) dropped from S&P EUROPE 350 - Insurance (Industry Group)

New 90-day high: UK£0.64

New 90-day high: UK£0.62

Old Mutual Limited Appoints Olufunke (Funke) Ighodaro as Independent Non-Executive Director

Old Mutual Limited (JSE:OMU) acquired unknown minority stake in Reunert Limited (JSE:RLO).

Price target raised to UK£0.67

New 90-day high: UK£0.58

Old Mutual Limited Appoints Olufunke (Funke) Ighodaro as an Independent Non-Executive Director

The management of Northern Capital Management completed the acquisition of a 80% stake in Northern Capital Management from Old Mutual plc.

New 90-day low: UK£0.45

New 90-day low - UK£0.49

Price target lowered to UK£0.69

Clients of OLD MUTUAL INVESTMENT GROUP HOLDINGS (PTY) LIMITED acquired an additional unknown minority stake in Old Mutual Limited (JSE:OMU).

Old Mutual Limited (JSE:OMU) acquired an unknown stake in Raubex Group Limited (JSE:RBX).

Old Mutual Limited Appoints Iain Williamson as Its Chief Executive Officer

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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