DSE : EIL
Express Insurance Limited — Financial statements
Fire, Marine, and Casualty Insurance · Bangladesh
Last price 30.5 BDT (At close: Nov 1, 2026) · Market cap 1.99B
Latest research: Express Insurance financial analysis: combined ratio 84.4%, marine loss, unmodified audit (Oct 2026) · Express Insurance: 2025 EPS Tk 1.18, combined ratio 84.4%, marine loss of Tk 19.6m
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Total Interest & Dividend Income | 130.54M | 129.47M | 112.19M | 84.79M | 84.85M | 69.70M |
| Gain (Loss) on Sale of Investments | 18.70M | -18.59M | -36.81M | 3.84M | 5.27M | 38.84M |
| Other Revenue | 39.27M | 50.74M | 97.05M | 94.49M | 101.61M | 79.46M |
| Total Revenue | 188.51M | 161.62M | 172.43M | 183.13M | 191.73M | 188.00M |
| Depreciation & Amortization | 28.98M | 28.93M | 29.65M | 26.27M | 27.68M | 20.83M |
| Selling, General & Administrative | 7.44M | 8.39M | 6.63M | 8.55M | 6.99M | 8.10M |
| Other Operating Expenses | 5.86M | |||||
| Total Operating Expenses | 37.45M | 37.56M | 45.51M | 46.49M | 46.51M | 43.99M |
| Operating Income | 151.06M | 124.06M | 126.91M | 136.63M | 145.22M | 144.01M |
| Interest Expense | -1.39M | -1.39M | -1.67M | -1.40M | -1.03M | -1.87M |
| Other Non Operating Income (Expenses) | -1.42M | -3.71M | -2.68M | -2.46M | -2.08M | -1.94M |
| EBT Excluding Unusual Items | 148.25M | 118.96M | 122.56M | 132.77M | 142.11M | 140.21M |
| Gain (Loss) on Sale of Assets | 879.50K | 879.50K | 623.34K | 806.52K | 3.18M | 615.87K |
| Other Unusual Items | -40.56M | -40.05M | -58.62M | -58.41M | -40.16M | -61.41M |
| Pretax Income | 108.57M | 79.79M | 64.56M | 75.17M | 105.13M | 79.41M |
| Income Tax Expense | 46.38M | 46.87M | 42.71M | 35.31M | 58.65M | 25.36M |
| Net Income | 62.19M | 32.92M | 21.85M | 39.85M | 46.48M | 54.05M |
| Net Income to Common | 62.19M | 32.92M | 21.85M | 39.85M | 46.48M | 54.05M |
| Shares Outstanding (Basic) | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M |
| Shares Outstanding (Diluted) | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M |
| EPS (Basic) | 0.95 | 0.50 | 0.34 | 0.61 | 0.71 | 0.83 |
| EPS (Diluted) | 0.95 | 0.50 | 0.34 | 0.61 | 0.71 | 0.83 |
| Free Cash Flow | 67.26M | 55.88M | 81.40M | 91.78M | 161.09M | 175.59M |
| Free Cash Flow Per Share | 1.03 | 0.86 | 1.25 | 1.41 | 2.47 | 2.69 |
| Dividend Per Share | 0.50 | 0.50 | 0.50 | 0.70 | 0.70 | 1.00 |
| Operating Margin | 80.14% | 76.76% | 73.60% | 74.61% | 75.74% | 76.60% |
| Profit Margin | 32.99% | 20.37% | 12.68% | 21.76% | 24.24% | 28.75% |
| Free Cash Flow Margin | 35.68% | 34.58% | 47.21% | 50.12% | 84.02% | 93.40% |
| EBITDA | 167.55M | 140.49M | 144.49M | 151.35M | 159.12M | 156.18M |
| EBITDA Margin | 88.88% | 86.93% | 83.80% | 82.65% | 83.00% | 83.07% |
| D&A For EBITDA | 16.48M | 16.43M | 17.58M | 14.72M | 13.91M | 12.17M |
| EBIT | 151.06M | 124.06M | 126.91M | 136.63M | 145.22M | 144.01M |
| EBIT Margin | 80.14% | 76.76% | 73.60% | 74.61% | 75.74% | 76.60% |
| Effective Tax Rate | 42.72% | 58.74% | 66.15% | 46.98% | 55.78% | 31.94% |
| Revenue as Reported | 208.49M | 181.60M | 210.19M | 183.93M | 202.78M | 188.62M |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 135.00M | 110.00M | 50.00M | 45.00M | 45.00M | |
| Investments in Equity & Preferred Securities | 108.64M | 90.67M | 146.45M | 139.99M | 151.28M | |
| Other Investments | 20.82M | 15.11M | 194.51M | 19.36M | 20.27M | 10.00M |
| Total Investments | 264.45M | 215.78M | 194.51M | 215.81M | 205.26M | 206.28M |
| Cash & Equivalents | 1.23B | 1.20B | 1.22B | 1.20B | 1.17B | 1.09B |
| Reinsurance Recoverable | 161.27M | 154.55M | 143.47M | 132.23M | 120.52M | 107.62M |
| Other Receivables | 30.19M | 35.83M | 33.17M | 26.08M | 28.79M | 18.63M |
| Property, Plant & Equipment | 293.47M | 297.11M | 292.24M | 275.01M | 254.27M | 203.96M |
| Other Current Assets | 479.82M | 462.40M | 399.74M | 356.46M | 331.76M | 350.58M |
| Other Long-Term Assets | 1.59M | 620.14K | 1.44M | 1.20M | 1.98M | 992.47K |
| Total Assets | 2.46B | 2.37B | 2.28B | 2.21B | 2.11B | 1.98B |
| Accrued Expenses | 13.99M | 29.28M | 24.47M | 20.55M | 12.49M | |
| Insurance & Annuity Liabilities | 971.87K | 972.13K | 935.39K | 799.37K | 722.93K | 7.60M |
| Unpaid Claims | 132.59M | 98.76M | 81.83M | 93.23M | 97.17M | 70.27M |
| Unearned Premiums | 11.79M | 12.51M | 10.77M | 20.06M | 77.04M | 104.89M |
| Reinsurance Payable | 344.10M | 332.73M | 355.12M | 365.65M | 287.21M | 228.20M |
| Current Portion of Leases | 98.68M | 83.45M | 60.22M | 44.18M | 24.62M | |
| Short-Term Debt | 22.18K | 8.33K | 13.39K | |||
| Current Income Taxes Payable | 333.97M | 347.13M | 306.46M | 263.17M | 255.21M | 243.45M |
| Other Current Liabilities | 118.07M | 1.72M | 591.86K | 493.00K | 493.00K | 1.01M |
| Other Long-Term Liabilities | 147.06M | 143.06M | 138.03M | 134.76M | 130.62M | 146.62M |
| Total Liabilities | 1.11B | 1.07B | 1.03B | 987.07M | 939.29M | 862.44M |
| Common Stock | 651.97M | 651.97M | 651.97M | 651.97M | 651.97M | 651.97M |
| Retained Earnings | 602.74M | 544.69M | 501.88M | 464.55M | 409.38M | 386.14M |
| Comprehensive Income & Other | 100.62M | 101.64M | 103.72M | 105.83M | 107.72M | 76.21M |
| Shareholders' Equity | 1.36B | 1.30B | 1.26B | 1.22B | 1.17B | 1.11B |
| Total Liabilities & Equity | 2.46B | 2.37B | 2.28B | 2.21B | 2.11B | 1.98B |
| Filing Date Shares Outstanding | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M |
| Total Common Shares Outstanding | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M | 65.20M |
| Total Debt | 98.70M | 83.46M | 60.24M | 44.18M | 24.62M | |
| Net Cash (Debt) | 1.23B | 1.10B | 1.14B | 1.14B | 1.12B | 1.06B |
| Net Cash Per Share | 18.87 | 16.90 | 17.41 | 17.52 | 17.20 | 16.32 |
| Book Value Per Share | 20.79 | 19.91 | 19.29 | 18.75 | 17.93 | 17.09 |
| Tangible Book Value | 1.36B | 1.30B | 1.26B | 1.22B | 1.17B | 1.11B |
| Tangible Book Value Per Share | 20.79 | 19.91 | 19.29 | 18.75 | 17.93 | 17.09 |
| Land | 189.09M | 189.09M | 189.09M | 189.09M | 149.91M | |
| Machinery | 134.94M | 133.31M | 122.44M | 108.17M | 104.06M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 62.19M | 32.92M | 21.85M | 39.85M | 46.48M | 54.05M |
| Depreciation & Amortization | 28.98M | 28.93M | 29.65M | 26.27M | 27.68M | 20.83M |
| Gain (Loss) on Sale of Assets | -814.52K | -3.18M | -615.87K | |||
| Gain (Loss) on Sale of Investments | -3.96M | -4.39M | -39.74M | |||
| Change in Unearned Revenue | -56.98M | -27.90M | 23.92M | |||
| Change in Insurance Reserves / Liabilities | -3.95M | 37.53M | 33.00M | |||
| Change in Other Net Operating Assets | -56.98M | -84.40M | -61.60M | 16.37M | 5.96M | 19.49M |
| Other Operating Activities | 39.30M | 86.92M | 107.49M | 98.46M | 91.03M | 95.97M |
| Operating Cash Flow | 73.50M | 64.37M | 97.40M | 115.26M | 173.21M | 206.90M |
| Capital Expenditures | -6.24M | -8.49M | -15.99M | -23.48M | -12.12M | -31.31M |
| Investment in Securities | -111.48M | -111.34M | -19.97M | -9.37M | -11.93M | -24.38M |
| Other Investing Activities | -3.10M | |||||
| Investing Cash Flow | -117.72M | -119.83M | -35.97M | -32.85M | -24.06M | -58.79M |
| Common Dividends Paid | -32.56M | -32.56M | -45.50M | -45.56M | -72.08M | -5.44M |
| Financing Cash Flow | -32.56M | -32.56M | -45.50M | -45.56M | -72.08M | -5.44M |
| Miscellaneous Cash Flow Adjustments | 34.50K | |||||
| Net Cash Flow | -76.79M | -88.02M | 15.96M | 36.85M | 77.08M | 142.67M |
| Free Cash Flow | 67.26M | 55.88M | 81.40M | 91.78M | 161.09M | 175.59M |
| Free Cash Flow Margin | 35.68% | 34.58% | 47.21% | 50.12% | 84.02% | 93.40% |
| Free Cash Flow Per Share | 1.03 | 0.86 | 1.25 | 1.41 | 2.47 | 2.69 |
| Levered Free Cash Flow | 113.98M | 43.40M | 42.36M | 81.21M | 174.72M | 200.26M |
| Unlevered Free Cash Flow | 114.85M | 44.27M | 43.41M | 82.08M | 175.36M | 201.43M |
| Cash Income Tax Paid | 58.05M | 55.90M | 32.10M | 47.86M | 31.12M | 27.67M |
| Change in Working Capital | -56.98M | -84.40M | -61.60M | -44.55M | 15.59M | 76.41M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.96B | 1.84B | 3.85B | 2.46B | 1.78B | 2.28B |
| Enterprise Value | 732.44M | 642.47M | 2.68B | 1.28B | 590.67M | 1.24B |
| PE Ratio | 31.55 | 55.84 | 176.01 | 61.84 | 38.29 | 42.10 |
| PS Ratio | 10.41 | 11.38 | 22.31 | 13.46 | 9.28 | 12.10 |
| PB Ratio | 1.45 | 1.42 | 3.06 | 2.02 | 1.52 | 2.04 |
| P/FCF Ratio | 29.18 | 32.90 | 47.25 | 26.85 | 11.05 | 12.96 |
| P/OCF Ratio | 26.70 | 28.56 | 39.49 | 21.38 | 10.28 | 11.00 |
| EV/Sales Ratio | 3.89 | 3.98 | 15.54 | 7.01 | 3.08 | 6.58 |
| EV/EBITDA Ratio | 4.07 | 4.57 | 18.54 | 8.48 | 3.71 | 7.92 |
| EV/EBIT Ratio | 4.85 | 5.18 | 21.11 | 9.39 | 4.07 | 8.59 |
| EV/FCF Ratio | 10.89 | 11.50 | 32.91 | 13.98 | 3.67 | 7.05 |
| Debt / Equity Ratio | 0.08 | 0.07 | 0.05 | 0.04 | 0.02 | |
| Debt / EBITDA Ratio | 0.65 | 0.53 | 0.37 | 0.26 | 0.15 | |
| Debt / FCF Ratio | 1.77 | 1.02 | 0.66 | 0.27 | 0.14 | |
| Net Debt / Equity Ratio | -0.91 | -0.85 | -0.90 | -0.94 | -0.96 | -0.95 |
| Net Debt / EBITDA Ratio | -7.34 | -7.84 | -7.86 | -7.55 | -7.05 | -6.81 |
| Net Debt / FCF Ratio | -18.29 | -19.72 | -13.94 | -12.45 | -6.96 | -6.06 |
| Quick Ratio | 1.28 | 1.30 | 1.37 | 1.41 | 1.44 | 1.52 |
| Current Ratio | 1.98 | 2.00 | 2.02 | 2.02 | 2.04 | 2.19 |
| Asset Turnover | 0.08 | 0.07 | 0.08 | 0.09 | 0.09 | 0.10 |
| Return on Equity (ROE) | 4.71% | 2.58% | 1.76% | 3.33% | 4.07% | 5.08% |
| Return on Assets (ROA) | 3.91% | 3.33% | 3.53% | 3.96% | 4.44% | 4.88% |
| Return on Invested Capital (ROIC) | 6.47% | 3.74% | 3.28% | 5.80% | 5.46% | 9.04% |
| Earnings Yield | 3.17% | 1.79% | 0.57% | 1.62% | 2.61% | 2.38% |
| FCF Yield | 3.43% | 3.04% | 2.12% | 3.72% | 9.05% | 7.72% |
| Dividend Yield | 1.66% | 1.77% | 0.85% | 1.85% | 2.56% | 2.86% |
| Payout Ratio | 52.36% | 98.91% | 208.20% | 114.33% | 155.06% | 10.06% |
| Buyback Yield / Dilution | -22.45% | |||||
| Total Shareholder Return | 1.66% | 1.77% | 0.85% | 1.85% | 2.56% | -19.58% |