Old Mutual Limited

OMU.L

Insurance - Life · Financial Services

Price

57.80 GBp

-0.20 (-0.34%)

Market Cap

£2.33B

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Weak

Stability

Exceptional

Valuation

Good

Dividends

Exceptional

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Share count falling — buybacks

−95.6% over 4y

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

Diluted shares outstanding: 4.47B (2021) → 197.3M (2025)

Winston Score History

The full picture

Old Mutual Limited is a financial services company based in South Africa that offers life insurance, savings products, investments, and banking services. Its main customers are everyday individuals and businesses across Africa who want to save money, protect their families, or grow their wealth. The company is one of the largest and oldest financial services groups on the African continent, with roots going back to 1845.

Old Mutual makes money by collecting insurance premiums, earning fees on investment products it manages, and taking interest on lending. It operates primarily across sub-Saharan Africa, with South Africa as its biggest market, and also has a presence in East and West Africa. The company's long history and wide distribution network give it a strong brand advantage in its home markets, but its growth depends heavily on expanding Africa's middle class and rising household incomes — meaning economic slowdowns or currency weakness across the region remain key risks to watch.

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

+264.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+80.4% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

R0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

R1.3T cash & investments at current burn rate

Revenue accelerating

Old Mutual Limited grew revenue 265% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

6.7%

Modest — 6.7% operating margin

Return on the money invested

ROCE

84.7%

Exceptional — 84.7% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+788.8%

Fast-growing sales (+788.8% YoY)

Profit growth

EPS YoY

+13.9%

Earnings growing (+13.9% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

-38%

Weak — only -38% of profit becomes cash

Spare cash per sale

FCF Margin

-1.7%

Burning cash (-1.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.34

Conservative — low debt load (0.34)

Covers its interest

Interest Cover

123.86x

Comfortably covers interest (123.9x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

6.4x

Attractive valuation — P/E 6.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-0.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

7.35%

Healthy income — 7.35% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+11.2%

Dividend growing fast (11.2% YoY)

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