Medibank is Australia's largest private health insurer, operating under the Medibank and Ahm brands. The dual-brand strategy has allowed the group to offer differentiated pricing and messaging to increase members and profits.
Industry growth is tied to a steadily increasing population, aging demographics, and the rise in healthcare spending. Governments will continue to incentivize participation in private health insurance to share the burden of escalating healthcare costs.
Unfavorable political and regulatory decisions could damage profitability for private health insurers. The system is reliant on government rebates and policies that encourage individuals to take out private health insurance.
|
Metric
|
MPL
|
SUN
|
NHF
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.40 | 17.24 | 15.19 |
Price/Book Value | 4.25 | 1.50 | 3.57 |
Price/Sales | 1.29 | 1.53 | 1.11 |
Price/Cash Flow | 26.78 | — | 11.99 |
|
Metric
|
MPL
|
SUN
|
NHF
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | 486.06 | 0.08 | 18.69 |
|
Metric
|
MPL
|
SUN
|
NHF
|
|---|---|---|---|
Return on Assets (Normalized) | 12.90% | 1.07% | 13.30% |
Return on Equity (Normalized) | 25.09% | 8.88% | 27.95% |
Return on Invested Capital (Normalized) | 21.52% | 0.17% | 21.49% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
FNF
| Fidelity National Financial Inc | Sqf | Vhgln | $13.5 Bil | |
AIZ
| Assurant Inc | Pzhyrksm | Jcz | $9.2 Bil | |
MDBPF
| Medibank Private Ltd | — | Vbnvfd | $6.4 Bil | |
RYAN
| Ryan Specialty Holdings Inc Class A | — | Mfkvsrn | $6.1 Bil | |
FAF
| First American Financial Corp | Tctspfvt | Yqqdx | $6.0 Bil | |
ESNT
| Essent Group Ltd | — | Znd | $5.8 Bil | |
BZLYF
| Beazley PLC | — | Kvvx | $5.4 Bil | |
MTG
| MGIC Investment Corp | Jgwpnzhh | Bsl | $5.4 Bil | |
AXS
| Axis Capital Holdings Ltd | — | Shb | $5.3 Bil | |
ACT
| Enact Holdings Inc | — | Pmzc | $4.7 Bil |
