Medibank Pvt Ltd
MPL: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$7.20 | Cppvnz | Wzbqqgvzn |
Medibank Earnings: Profit Growth Takes Priority Over Policyholder Growth
The resilience of private health insurance is illustrated nicely by narrow-moat Medibank's growth in fiscal 2024. Profit for private health insurance increased 6.3%, and the health segment, which encompasses telehealth, in-home care, and GP clinics, grew 36.7%. Add to that the 31.5% uplift to investment income on policyholder and shareholder funds, group underlying net profit after tax rose 14%. The result was just shy of our forecasts, but solid overall.