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Insurance broker network and underwriting agency group operating across Australia and New Zealand.
Insurance broker network and underwriting agency group operating across Australia and New Zealand.
Takes equity stakes in broking firms and earns its share of their commissions, plus fees from underwriting agencies that decide on cover for insurers; it grows by buying into more brokers. The purchase of Tysers, a London specialist insurance and reinsurance broker, extended it into the UK.
In one line: Australia's smaller Brown & Brown.
Moat: narrow (scale, distribution). Network scale gives insurer buying power; switching a broker network relationship is disruptive.
Headquarters: Sydney, Australia · Founded: 1985 · Employees: 2,697
Size AUB (AUB.AX) is an Australia Financials company (Insurance Brokers/Services) with a market value of $2.75B, the 103rd largest of 316 Australia companies the cockpit tracks. Shares closed at A$30.34 on 6 Nov 2026.
Performance Over six months the shares gained 26.3%, against +42.1% for the median peer and +4.1% for the Australia market (cap-weighted) — 3rd lowest of 8 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +18.9%); the operating margin is 22.8% (peer median 17.9%).
Valuation It trades at 2.11× book value against a peer median of 3.48× (cheapest of 6).
Price implies The share price implies a return on equity of about 17.1%; AUB delivers 5.4%, so the price asks more than the business earns today.
Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$1.19B | A$1.19B | A$1.13B | A$1.02B | A$826M |
| Revenue growth | — | +6% | +11% | +23% | — |
| Gross profit | A$1.03B | A$1.03B | A$964M | A$874M | A$717M |
| EBITDA | A$375M | A$375M | A$333M | A$293M | A$219M |
| Net income | A$96.0M | A$96.0M | A$180M | A$137M | A$65.3M |
| Free cash flow | A$116M | A$116M | A$382M | A$75.6M | A$201M |
| Capital expenditure | A$5.72M | A$5.72M | A$4.63M | A$6.40M | A$749,000 |
| Total debt | n/a | A$1.20B | A$958M | A$725M | A$661M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| AUB AUB.AX | $2.75B | +26% | +6% | 5% | 2.11× | 17.1% |
| Steadfast SDF.AX | $4.46B | +46% | +17% | 11% | 2.73× | 14.3% |
| Marsh McLennan MRSH | $97.4B | +25% | +8% | 27% | 6.64× | 32.7% |
| Arthur J. Gallagher & AJG | $72.2B | +42% | +26% | 7% | 3.00× | 15.6% |
| Brown & Brown BRO | $23.9B | +28% | +26% | 10% | 1.87× | 11.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AUB.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.6% | +0.7% | 3rd highest of 8 |
| 6-month return | +26.3% | +42.1% | 3rd lowest of 8 |
| Return on equity | 5.4% | 11.3% | 2nd lowest of 6 |
| Price / book | 2.11× | 3.48× | cheapest of 6 |
| Trailing P/E | 38.8× | 37.7× | 4th cheapest of 7 |
| ROE the price implies | 17.1% | 26.6% | 3rd least demanding of 6 |
| ROE delivered | 5.4% | 11.3% | 2nd lowest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| AUB AUB.AX | Australia | $2.75B | +26% | +6% | 5% | 2.11× | 17.1% | 5.4% |
| Goosehead Insurance GSHD | United States | $1.97B | +36% | +18% | n/a | n/a | n/a | n/a |
| Neptune Insurance NP | United States | $3.86B | -7% | +34% | n/a | n/a | n/a | n/a |
| CorVel CRVL | United States | $4.20B | +42% | +8% | 31% | 10.74× | 80.5% | 30.6% |
| Steadfast SDF.AX | Australia | $4.46B | +46% | +17% | 11% | 2.73× | 14.3% | 11.3% |
| Baldwin Insurance BWIN | United States | $4.48B | +58% | +19% | -11% | 3.48× | 26.6% | -10.7% |
| TWFG TWFG | United States | $1.52B | +47% | +33% | 14% | 7.79× | 29.2% | 13.6% |
| REVO Insurance REVO.MI | Italy | $745M | -5% | +27% | 9% | 2.41× | 11.1% | 9.4% |