DSE : ASIAPACINS
Asia Pacific General Insurance PLC — Financial statements
Insurance Carriers · Bangladesh
Last price 44.1 BDT (At close: Oct 28, 2026) · Market cap 1.87B
Latest research: Asia Pacific General Insurance financial analysis: 2025 EPS Tk 2.51, combined ratio 67.2% (Oct 2026) · Asia Pacific General Insurance: 2025 EPS Tk 2.51, gross premium Tk 820.7m and combined ratio 67.2%
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 480.81M | 539.36M | 339.66M | 404.90M | 338.46M | 302.24M |
| Total Interest & Dividend Income | 76.75M | 86.74M | 53.81M | 55.51M | 49.78M | 41.69M |
| Gain (Loss) on Sale of Investments | -19.96M | -19.96M | 479.25K | 1.80M | 1.47M | 14.92M |
| Other Revenue | 91.42M | 70.82M | 45.03M | 52.96M | 50.77M | 35.74M |
| Total Revenue | 629.02M | 676.97M | 438.99M | 515.18M | 440.48M | 394.60M |
| Policy Benefits | 109.39M | 130.71M | 75.68M | 174.43M | 85.97M | 70.24M |
| Policy Acquisition & Underwriting Costs | 66.71M | 112.93M | 64.84M | 86.00M | 80.02M | 23.81M |
| Depreciation & Amortization | 14.10M | 11.28M | 7.38M | 7.87M | 4.53M | 8.59M |
| Selling, General & Administrative | 266.32M | 274.83M | 167.75M | 121.92M | 117.38M | 118.01M |
| Other Operating Expenses | 3.92M | 3.92M | 2.30M | 2.65M | 1.92M | 262.49K |
| Total Operating Expenses | 465.46M | 538.70M | 322.51M | 395.37M | 291.91M | 222.99M |
| Operating Income | 163.56M | 138.27M | 116.47M | 119.81M | 148.57M | 171.60M |
| Other Non Operating Income (Expenses) | -1.40M | -1.40M | -1.97M | -1.91M | -1.67M | -1.30M |
| EBT Excluding Unusual Items | 162.15M | 136.86M | 114.50M | 117.89M | 146.91M | 170.31M |
| Gain (Loss) on Sale of Assets | 31.01K | |||||
| Pretax Income | 162.15M | 136.86M | 114.50M | 117.89M | 146.94M | 170.31M |
| Income Tax Expense | 42.97M | 30.74M | 34.25M | 30.32M | 46.78M | 71.61M |
| Net Income | 119.19M | 106.12M | 80.24M | 87.57M | 100.16M | 98.69M |
| Net Income to Common | 119.19M | 106.12M | 80.24M | 87.57M | 100.16M | 98.69M |
| Shares Outstanding (Basic) | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M |
| Shares Outstanding (Diluted) | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M |
| EPS (Basic) | 2.81 | 2.51 | 1.89 | 2.07 | 2.37 | 2.33 |
| EPS (Diluted) | 2.81 | 2.51 | 1.89 | 2.07 | 2.37 | 2.33 |
| Free Cash Flow | 160.52M | 112.32M | 113.51M | 104.48M | 106.58M | 165.48M |
| Free Cash Flow Per Share | 3.79 | 2.65 | 2.68 | 2.47 | 2.52 | 3.91 |
| Dividend Per Share | 1.40 | 1.40 | 1.00 | 1.20 | 1.50 | 1.80 |
| Operating Margin | 26.00% | 20.42% | 26.53% | 23.26% | 33.73% | 43.49% |
| Profit Margin | 18.95% | 15.68% | 18.28% | 17.00% | 22.74% | 25.01% |
| Free Cash Flow Margin | 25.52% | 16.59% | 25.86% | 20.28% | 24.20% | 41.94% |
| EBITDA | 177.65M | 149.54M | 123.86M | 127.67M | 153.10M | 180.20M |
| EBITDA Margin | 28.24% | 22.09% | 28.21% | 24.78% | 34.76% | 45.67% |
| D&A For EBITDA | 14.10M | 11.28M | 7.38M | 7.87M | 4.53M | 8.59M |
| EBIT | 163.56M | 138.27M | 116.47M | 119.81M | 148.57M | 171.60M |
| EBIT Margin | 26.00% | 20.42% | 26.53% | 23.26% | 33.73% | 43.49% |
| Effective Tax Rate | 26.50% | 22.46% | 29.92% | 25.72% | 31.83% | 42.05% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 110.00M | 103.00M | 100.00M | 100.00M | 78.00M | |
| Investments in Equity & Preferred Securities | 52.34M | 73.63M | 112.42M | 120.24M | 91.58M | |
| Total Investments | 58.02M | 162.34M | 176.63M | 212.42M | 220.24M | 169.58M |
| Cash & Equivalents | 962.80M | 801.23M | 735.13M | 888.73M | 857.68M | 863.43M |
| Reinsurance Recoverable | 256.23M | 178.95M | 206.40M | 172.23M | 164.72M | |
| Other Receivables | 283.58M | 51.59M | 43.51M | 34.64M | 32.41M | 27.12M |
| Property, Plant & Equipment | 145.75M | 152.20M | 127.36M | 124.41M | 131.46M | 135.08M |
| Other Current Assets | 419.50M | 161.51M | 108.89M | 87.19M | 60.10M | 62.06M |
| Other Long-Term Assets | 240.16M | 240.16M | ||||
| Total Assets | 1.87B | 1.83B | 1.61B | 1.55B | 1.47B | 1.42B |
| Accrued Expenses | 30.65M | 24.79M | 18.67M | 22.23M | 16.06M | |
| Insurance & Annuity Liabilities | 188.40M | 248.38M | 161.64M | 162.41M | 135.85M | 122.72M |
| Unpaid Claims | 55.83M | 63.79M | 40.20M | 39.13M | 47.16M | 58.25M |
| Unearned Premiums | 151.59M | 105.76M | 148.59M | 114.11M | 93.22M | 62.12M |
| Reinsurance Payable | 157.23M | 109.70M | 124.17M | 90.50M | 93.83M | |
| Current Income Taxes Payable | 131.95M | 100.97M | 71.00M | 88.50M | 88.22M | |
| Long-Term Deferred Tax Liabilities | 5.15M | 5.39M | 5.76M | 4.94M | 4.72M | |
| Other Current Liabilities | 309.55M | 11.03M | 11.78M | 40.40M | 37.64M | 45.92M |
| Other Long-Term Liabilities | -1.00 | |||||
| Total Liabilities | 705.37M | 753.94M | 603.07M | 575.65M | 520.03M | 491.84M |
| Common Stock | 423.50M | 423.50M | 423.50M | 423.50M | 423.50M | 423.50M |
| Additional Paid-In Capital | 102.70M | 102.70M | 102.70M | 102.70M | 102.70M | 102.70M |
| Retained Earnings | 638.07M | 545.12M | 481.35M | 451.92M | 427.88M | 403.95M |
| Shareholders' Equity | 1.16B | 1.07B | 1.01B | 978.12M | 954.08M | 930.15M |
| Total Liabilities & Equity | 1.87B | 1.83B | 1.61B | 1.55B | 1.47B | 1.42B |
| Filing Date Shares Outstanding | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M |
| Total Common Shares Outstanding | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M | 42.35M |
| Net Cash (Debt) | 962.80M | 801.23M | 735.13M | 888.73M | 857.68M | 863.43M |
| Net Cash Per Share | 22.73 | 18.92 | 17.36 | 20.99 | 20.25 | 20.39 |
| Book Value Per Share | 27.49 | 25.30 | 23.79 | 23.10 | 22.53 | 21.96 |
| Tangible Book Value | 1.16B | 1.07B | 1.01B | 978.12M | 954.08M | 930.15M |
| Tangible Book Value Per Share | 27.49 | 25.30 | 23.79 | 23.10 | 22.53 | 21.96 |
| Land | 5.57M | 5.57M | 5.57M | 5.57M | 5.57M | |
| Machinery | 88.24M | 53.85M | 45.86M | 45.35M | 44.82M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 119.19M | 106.12M | 80.24M | 87.57M | ||
| Depreciation & Amortization | 14.10M | 11.28M | 7.38M | 7.87M | ||
| Gain (Loss) on Sale of Investments | -1.80M | |||||
| Change in Unearned Revenue | 2.99M | -42.83M | 20.89M | |||
| Change in Insurance Reserves / Liabilities | 42.39M | 110.32M | 20.33M | |||
| Change in Other Net Operating Assets | -79.41M | -48.47M | 45.91M | |||
| Other Operating Activities | -9.52M | -73.63M | 36.30M | -75.47M | 107.47M | 170.04M |
| Operating Cash Flow | 175.39M | 148.44M | 123.93M | 105.29M | 107.47M | 170.04M |
| Capital Expenditures | -14.87M | -36.12M | -10.41M | -808.64K | -882.83K | -4.57M |
| Investment in Securities | -7.00M | -7.00M | 2.34M | 15.90M | -134.87M | 94.82M |
| Other Investing Activities | 112.98K | -218.73M | -25.35M | 20.02M | ||
| Investing Cash Flow | -21.76M | -43.12M | -226.81M | -10.26M | -115.73M | 90.25M |
| Common Dividends Paid | -39.22M | -39.22M | -50.72M | -63.98M | -75.48M | -48.71M |
| Financing Cash Flow | -39.22M | -39.22M | -50.72M | -63.98M | -75.48M | -48.71M |
| Net Cash Flow | 114.42M | 66.11M | -153.60M | 31.05M | -83.75M | 211.59M |
| Free Cash Flow | 160.52M | 112.32M | 113.51M | 104.48M | 106.58M | 165.48M |
| Free Cash Flow Margin | 25.52% | 16.59% | 25.86% | 20.28% | 24.20% | 41.94% |
| Free Cash Flow Per Share | 3.79 | 2.65 | 2.68 | 2.47 | 2.52 | 3.91 |
| Levered Free Cash Flow | 146.88M | 74.69M | 94.44M | 73.24M | 109.12M | 197.03M |
| Unlevered Free Cash Flow | 146.88M | 74.69M | 94.44M | 73.24M | 109.12M | 197.03M |
| Cash Income Tax Paid | 16.32M | 17.63M | 50.29M | 59.32M | 34.88M | |
| Change in Working Capital | 51.63M | 104.67M | 87.12M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.87B | 1.29B | 1.36B | 2.12B | 1.76B | 2.90B |
| Enterprise Value | 909.07M | 419.04M | 585.02M | 1.26B | 802.12M | 1.98B |
| PE Ratio | 15.71 | 12.17 | 16.89 | 24.23 | 17.59 | 29.39 |
| PS Ratio | 2.98 | 1.91 | 3.09 | 4.12 | 4.00 | 7.35 |
| PB Ratio | 1.61 | 1.21 | 1.34 | 2.17 | 1.85 | 3.12 |
| P/FCF Ratio | 11.66 | 11.50 | 11.94 | 20.31 | 16.53 | 17.53 |
| P/OCF Ratio | 10.67 | 8.70 | 10.94 | 20.15 | 16.39 | 17.06 |
| EV/Sales Ratio | 1.45 | 0.62 | 1.33 | 2.45 | 1.82 | 5.02 |
| EV/EBITDA Ratio | 5.12 | 2.80 | 4.72 | 9.90 | 5.24 | 11.00 |
| EV/EBIT Ratio | 5.56 | 3.03 | 5.02 | 10.55 | 5.40 | 11.55 |
| EV/FCF Ratio | 5.66 | 3.73 | 5.15 | 12.10 | 7.53 | 11.98 |
| Net Debt / Equity Ratio | -0.83 | -0.75 | -0.73 | -0.91 | -0.90 | -0.93 |
| Net Debt / EBITDA Ratio | -5.42 | -5.36 | -5.93 | -6.96 | -5.60 | -4.79 |
| Net Debt / FCF Ratio | -6.00 | -7.13 | -6.48 | -8.51 | -8.05 | -5.22 |
| Quick Ratio | 1.76 | 1.07 | 1.23 | 1.56 | 1.67 | 1.77 |
| Current Ratio | 2.44 | 1.70 | 1.78 | 2.13 | 2.18 | 2.29 |
| Asset Turnover | 0.36 | 0.39 | 0.28 | 0.34 | 0.30 | 0.29 |
| Return on Equity (ROE) | 10.59% | 10.21% | 8.08% | 9.06% | 10.63% | 10.94% |
| Return on Assets (ROA) | 5.84% | 5.03% | 4.60% | 4.95% | 6.41% | 7.92% |
| Return on Invested Capital (ROIC) | 10.52% | 10.31% | 8.22% | 9.21% | 10.75% | 11.03% |
| Earnings Yield | 6.37% | 8.22% | 5.92% | 4.13% | 5.68% | 3.40% |
| FCF Yield | 8.58% | 8.70% | 8.38% | 4.92% | 6.05% | 5.70% |
| Dividend Yield | 3.17% | 4.59% | 3.12% | 2.40% | 3.61% | 2.63% |
| Payout Ratio | 32.91% | 36.96% | 63.21% | 73.06% | 75.36% | 49.35% |
| Total Shareholder Return | 3.17% | 4.59% | 3.12% | 2.40% | 3.61% | 2.63% |