Insurance Australia Group Limited

IAG.AX

Insurance - Property & Casualty · Financial Services

Price

A$7.87

+0.07 (+0.90%)

Market Cap

A$18.35B

Exchange

Australian Securities Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Good

Stability

Strong

Valuation

Good

Dividends

Strong

Track this stock — start free trial

Share count falling — buybacks

−3.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 2.60B (2022) → 2.52B (2026)

Winston Score History

The full picture

Insurance Australia Group (IAG) sells general insurance products to everyday people and businesses across Australia and New Zealand. Its main brands include NRMA Insurance, CGU, SGIO, SGIC, and AMI, covering things like car insurance, home insurance, and business insurance. IAG is one of the largest general insurers in Australia by premium volume.

IAG makes money by collecting insurance premiums from customers and investing those funds, paying out claims when accidents or damage occur. The business operates primarily in Australia and New Zealand, with a small presence in Asia. Its scale and well-known brands give it a strong position in the market, making it hard for smaller competitors to match its distribution reach or pricing power. The key risk IAG faces is rising claims costs driven by more frequent and severe weather events, such as floods and bushfires, which can quickly push payouts above what premiums collected can cover.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-12.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

6.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$14.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Insurance Australia Group Limited is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

24.4%

Thin — 24.4% gross margin

Profit after running costs

Operating Margin

9.5%

Modest — 9.5% operating margin

Return on the money invested

ROCE

17.1%

Strong — 17.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+10.3%

Steady sales growth (+10.3% YoY)

Profit growth

EPS YoY

-23.2%

Earnings shrinking (-23.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

102%

Turns 102% of profit into real cash

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.41

Conservative — low debt load (0.41)

Covers its interest

Interest Cover

9.15x

Comfortably covers interest (9.2x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

18.3x

Fair value — P/E 18.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+0.5

GROWING

Earnings roughly flat

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

3.61%

Moderate income — 3.61% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+100.0%

Dividend growing fast (100.0% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial