Steadfast Group reported a 13.8% increase in underlying earnings before interest, tax, depreciation and amortisation to $669.8 million for the 2026 financial year, as revenue rose 15.3% to $2.10 billion.
Underlying net profit after tax grew 8.2% to $319.5 million, while underlying diluted earnings per share reached 28.8 cents, up 7.7%. Consolidated entities revenue increased to $2.10 billion, driven by a 6.2% rise in gross written premiums from the Australasian broker network to $13.2 billion. Underwriting agencies contributed $2.5 billion in GWP, up 2.3%.
International businesses recorded a 400.8% surge in EBITA to $29.8 million, while free cash flow improved to $166.6 million from $124.9 million a year earlier. Total gearing stood at 36.0% as of June 30, 2026, with corporate debt facilities totaling $1.47 billion, including $100 million in bilateral facilities added after year-end.
The company declared a final dividend of 12.75 cents per share, fully franked, bringing the full-year payout to 20.95 cents, up 7.4% from FY25. Franking credits of approximately $225 million will be utilised through dividend payments.
Management characterised the insurance market as the softest in three decades, with premium rate increases moderating from 7.8% in FY24 Q3 to 1.1% in FY26 Q4. Full-year FY26 renewal price movement averaged 2.0%, while FY27 guidance assumes premium rate increases of 2% to 3%. For FY27, Steadfast targets underlying NPATA of $382 million to $392 million, underlying NPAT of $333 million to $343 million and underlying EBITA of $700 million to $715 million.
A $6.00 per share cash bid from a consortium led by Amwins, Dragoneer and KKR remains on track for implementation in December 2026. The offer represents a 51.9% premium to the undisturbed closing price of $3.95 on June 9, 2026, and the stock last traded at $5.83.
Steadfast also highlighted progress in its digital strategy, with CTO David Gillespie noting a shift from spending 80%-90% of time on data collection to focusing 80%-90% on analysis for insights. The company plans to launch its flagship Steadfast Apps pilot on September 7, 2026.
