The Medibank Private Ltd (ASX: MPL) share price is in focus today after the health insurer reported a 6.0% rise in group operating profit to $381.7 million for the half year to 31 December 2025, and lifted its fully franked interim dividend by 6.4% to 8.3 cents per share.
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What did Medibank report?
- Group revenue from external customers rose 5.5% to $4,503.5 million
- Group operating profit increased 6.0% to $381.7 million
- Underlying net profit after tax (NPAT) was largely flat at $297.8 million
- Medibank Health segment profit jumped 28.5% to $48.3 million, now around 13% of group profit
- Interim fully franked dividend up 6.4% to 8.3 cents per share
- Net resident policyholder growth of 1.9% (+38,300 over 12 months)
What else do investors need to know?
Medibank continued to expand its health services, completing the acquisition of Better Medical for $163.5 million and increasing the number of national clinics. More than half of resident policyholders (55%) are now engaged with health and wellbeing services, while digital offerings and Live Better rewards programs gained traction.
Customer retention slightly improved despite heightened competition and industry switching rates. The business also delivered productivity gains and rolled out new AI technology to streamline customer and claims experiences.
What's next for Medibank?
The company is on track to meet its FY26 outlook with a disciplined approach to growth, targeting further policyholder gains, steady expense management, and investment in new products and digital health offerings. Medibank is also focused on scaling its primary care network and health services, with both organic growth and a healthy pipeline of potential acquisitions.
Looking further ahead, management reaffirmed its goals to increase group earnings, expand in health, and achieve its long-term aspirations to 2030, underpinned by continued customer engagement and innovation.
Medibank share price snapshot
Over the past 12 months, Medibank shares have risen 21%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has increased 7% over the same period.
