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Australian provider of lenders mortgage insurance (LMI), protecting banks against borrower default on high loan-to-value mortgages.
Australian provider of lenders mortgage insurance (LMI), protecting banks against borrower default on high loan-to-value mortgages.
Lenders pay a one-off premium when a high loan-to-value mortgage is written, and Helia recognizes it over several years as the risk of claims plays out, so earnings reflect past lending and current defaults. It also earns investment income on the premiums it holds. Formerly Genworth Australia.
In one line: A mortgage insurer like MGIC Investment.
Moat: narrow (regulatory licence, scale, customer qualification). APRA licence and long-standing lender panel relationships create barriers, though the LMI market has few players.
Headquarters: Sydney, Australia · Founded: 1965 · Employees: 170
Size Helia (HLI.AX) is an Australia Financials company (Specialty Insurance) with a market value of $942M, the 185th largest of 316 Australia companies the cockpit tracks. Shares closed at A$5.00 on 6 Nov 2026.
Performance Over six months the shares gained 1.6%, against -2.1% for the median peer and +4.1% for the Australia market (cap-weighted) — 3rd highest of 8 in its peer set.
Growth Revenue fell 8.3% over the last twelve months (peer median +3.0%); the operating margin is 67.9% (peer median 17.7%).
Valuation It trades at 1.53× book value against a peer median of 0.86× (2nd most expensive of 8).
Price implies The share price implies a return on equity of about 11.8%; Helia delivers 22.1%, so the price asks less than the business earns today.
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$454M | A$471M | A$504M | A$538M | A$580M |
| Revenue growth | — | -6% | -6% | -7% | — |
| Net income | A$211M | A$245M | A$232M | A$275M | A$201M |
| Free cash flow | A$46.9M | A$108M | A$134M | -A$18.3M | A$75.5M |
| Capital expenditure | A$0 | A$0 | A$100,000 | A$243,000 | A$599,000 |
| Total debt | n/a | A$5.20M | A$196M | A$197M | A$191M |
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.
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 | HLI.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.5% | +1.0% | 4th lowest of 8 |
| 6-month return | +1.6% | -2.1% | 3rd highest of 8 |
| Return on equity | 22.1% | 9.4% | highest of 8 |
| Price / book | 1.53× | 0.86× | 2nd most expensive of 8 |
| Trailing P/E | 6.5× | 10.8× | 2nd cheapest of 7 |
| ROE the price implies | 11.8% | 8.0% | most demanding of 8 |
| ROE delivered | 22.1% | 9.4% | highest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Helia HLI.AX | Australia | $942M | +2% | -8% | 22% | 1.53× | 11.8% | 22.1% |
| Conduit CRE.L | United Kingdom | $895M | +2% | +4% | 20% | 0.79× | 7.6% | 19.9% |
| Trisura TSU.TO | Canada | $1,000M | -31% | +1% | 17% | 1.39× | 8.0% | 16.9% |
| Tiptree TIPT | United States | $639M | +1% | -99% | -3% | 0.72× | 6.8% | -2.6% |
| Stewart Information Services STC | United States | $1.43B | -33% | +21% | 8% | 0.86× | 9.0% | 7.7% |
| Investors Title ITIC | United States | $484M | +8% | +9% | 15% | 1.69× | 11.3% | 14.6% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |