NIB Holdings Ltd (NHF) Fair Value & Analysis
Financial Services · AU · Market cap A$3.5B (≈ $2.6B) · ISIN AU000000NHF0
What is NIB Holdings Ltd really worth?
A solid business, but trading 88% above our fair value of A$3.56.
Strengths
Risks
For context
Fair value as of: Aug 22, 2026
From 4 valuation models · updated 14 days ago
Share price −10.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (A$4.45). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range A$5.06 – A$7.83 · fair‑value band A$2.67 – A$4.45 · the A$6.68 price screens above the A$3.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
NIB Holdings Ltd (NHF) currently trades at A$6.68, while our model-based Fair Value estimate is A$3.56, implying the stock looks roughly 87.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of A$3.41 per share, and 0 of the 4 models we run sit above the A$6.68 price. Bear case: the Asset-Based group reads lowest at A$1.52, and 4 of the 4 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, NIB Holdings Ltd generated revenue of A$3.7B at a net margin of 5.4%. Revenue grew 5.7% year over year. It earns a return on equity of 17.9%. Net debt stands at A$81.4M. Fundamentals as of Aug 22, 2026
Our scenario range runs from A$2.67 (bear case) to A$4.45 (bull case); at A$6.68, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 27% fair-value upside, at −47%, NHF screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly A$0.1100 per share, which is 3.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 4 models by family
Widest divergence: Economic Profit (A$3.41) versus Asset-Based (A$1.52). Highest evidence: Residual Income (64).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 56
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
nib holdings limited, together with its subsidiaries, engages in the underwriting and distribution of private health, life, and living insurance to residents, international students, and visitors in Australia and New Zealand.
Full company description
nib holdings limited, together with its subsidiaries, engages in the underwriting and distribution of private health, life, and living insurance to residents, international students, and visitors in Australia and New Zealand. The company operates in six segments: Australian Residents Health Insurance, International (Inbound) Health Insurance, New Zealand Insurance, nib Travel, nib Thrive, and nib Health Services. It is also involved in the sale and distribution of travel and disability insurance products; and provision of health management programs. In addition, it provides digital marketplace platform under the national disability insurance scheme (NDIS). The company was founded in 1952 and is based in Newcastle, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
NIB Holdings Ltd reported revenue of A$3.6B in FY2025 versus A$2.6B in FY2021, a compound +8.4%/yr. Reported net income was A$200M in FY2025, compounding +5.6%/yr from FY2021.
of which total revenue +8.0 % · buybacks/dilution −0.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
NHF screens 88% overvalued. Compare with Fidelity National Financial, Inc →
Peer Group
Insurance - Specialty · 29 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Specialty median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Specialty stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fidelity National Financial, Inc FNF | $46.45 | $29.08 | −37% |
| AXIS Capital Holdings AXS | $99.80 | $139.49 | +40% |
| First American Financial Corporation FAF | $73.59 | $64.26 | −13% |
| Enact Holdings ACT | $49.07 | $58.14 | +18% |
| MGIC Investment Corporation MTG | $31.29 | $39.71 | +27% |
| Essent Group ESNT | $69.27 | $91.14 | +32% |
| Radian Group RDN | $35.80 | $53.56 | +50% |
| Protector Forsikring ASA PROT | kr 480.40 | kr 273.28 | −43% |
| Assured Guaranty Ltd AGO | $74.46 | $148.92 | +100% |
| NMI Holdings NMIH | $44.80 | $56.53 | +26% |
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