DSE : FEDERALINS
Federal Insurance PLC — Financial statements
Insurance Carriers · Bangladesh
Last price 26.7 BDT (At close: Oct 28, 2026) · Market cap 1.93B
Latest research: Federal Insurance financial analysis: qualified 2025 audit over Tk 117m agent balance (Oct 2026) · Federal Insurance: qualified 2025 audit opinion, gross premium down 4.8% and EPS Tk 1.10
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 340.91M | 341.41M | 379.95M | 393.55M | 372.20M | 369.83M |
| Total Interest & Dividend Income | 30.21M | 32.69M | 27.45M | 30.59M | 24.71M | 22.11M |
| Gain (Loss) on Sale of Investments | -927.42K | -927.42K | -3.25M | 409.76K | 4.15M | 10.96M |
| Other Revenue | 65.18M | 69.85M | 68.85M | 71.16M | 81.69M | 68.58M |
| Total Revenue | 437.42M | 445.08M | 474.36M | 495.70M | 482.75M | 471.49M |
| Policy Benefits | 55.80M | 47.00M | 74.68M | 96.40M | 90.16M | 91.79M |
| Policy Acquisition & Underwriting Costs | 26.84M | 76.02M | 82.05M | 84.32M | 87.36M | 40.49M |
| Depreciation & Amortization | 16.14M | 16.24M | 19.16M | 20.97M | 22.95M | 22.04M |
| Selling, General & Administrative | 176.02M | 176.49M | 168.81M | 168.68M | 160.50M | 170.05M |
| Provision for Bad Debts | 5.00M | 5.00M | 5.00M | 5.00M | 3.00M | 3.00M |
| Reinsurance Income or Expense | -420.00 | -420.00 | -12.06K | -5.21K | -15.66K | -26.15K |
| Total Operating Expenses | 279.80M | 320.75M | 355.63M | 381.07M | 369.59M | 334.40M |
| Operating Income | 157.61M | 124.32M | 118.73M | 114.63M | 113.16M | 137.08M |
| Interest Expense | -717.63K | -717.63K | -559.73K | -684.60K | -948.60K | -907.54K |
| Other Non Operating Income (Expenses) | 3.00 | 3.00 | 1.00 | 2.00 | 4.00 | 1.00 |
| EBT Excluding Unusual Items | 156.90M | 123.61M | 118.17M | 113.95M | 112.21M | 136.18M |
| Gain (Loss) on Sale of Assets | 3.88M | |||||
| Pretax Income | 156.90M | 123.61M | 118.17M | 113.95M | 112.21M | 140.06M |
| Income Tax Expense | 57.91M | 45.43M | 46.37M | 45.75M | 38.74M | 43.70M |
| Net Income | 98.98M | 78.18M | 71.79M | 68.20M | 73.48M | 96.36M |
| Net Income to Common | 98.98M | 78.18M | 71.79M | 68.20M | 73.48M | 96.36M |
| Shares Outstanding (Basic) | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M |
| Shares Outstanding (Diluted) | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M |
| EPS (Basic) | 1.39 | 1.10 | 1.01 | 0.96 | 1.03 | 1.36 |
| EPS (Diluted) | 1.39 | 1.10 | 1.01 | 0.96 | 1.03 | 1.36 |
| Free Cash Flow | 38.21M | 6.10M | -26.89M | 47.62M | 93.78M | 175.01M |
| Free Cash Flow Per Share | 0.54 | 0.09 | -0.38 | 0.67 | 1.32 | 2.46 |
| Dividend Per Share | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Operating Margin | 36.03% | 27.93% | 25.03% | 23.12% | 23.44% | 29.07% |
| Profit Margin | 22.63% | 17.57% | 15.14% | 13.76% | 15.22% | 20.44% |
| Free Cash Flow Margin | 8.73% | 1.37% | -5.67% | 9.61% | 19.43% | 37.12% |
| EBITDA | 170.25M | 137.06M | 132.77M | 129.42M | 128.97M | 142.26M |
| EBITDA Margin | 38.92% | 30.80% | 27.99% | 26.11% | 26.72% | 30.17% |
| D&A For EBITDA | 12.64M | 12.74M | 14.04M | 14.79M | 15.81M | 5.18M |
| EBIT | 157.61M | 124.32M | 118.73M | 114.63M | 113.16M | 137.08M |
| EBIT Margin | 36.03% | 27.93% | 25.03% | 23.12% | 23.44% | 29.07% |
| Effective Tax Rate | 36.91% | 36.75% | 39.24% | 40.15% | 34.52% | 31.20% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Equity & Preferred Securities | 19.30M | 19.50M | 22.75M | 22.99M | 47.74M | |
| Other Investments | 107.30M | 6.03K | 734.33K | 712.97K | 55.01K | 991.01K |
| Total Investments | 107.30M | 19.31M | 20.24M | 23.47M | 23.05M | 48.73M |
| Cash & Equivalents | 346.27M | 288.80M | 367.13M | 467.87M | 495.13M | 492.63M |
| Reinsurance Recoverable | 568.09M | 568.08M | 513.05M | 411.46M | 371.62M | 366.48M |
| Other Receivables | 443.65M | 34.91M | 40.06M | 40.06M | 43.09M | 43.79M |
| Property, Plant & Equipment | 174.56M | 180.96M | 192.68M | 175.56M | 187.36M | 192.99M |
| Other Intangible Assets | 1.37M | 1.48M | 1.60M | 1.52M | 1.53M | 1.60M |
| Other Current Assets | 346.29M | 296.99M | 268.54M | 250.52M | 385.04M | |
| Long-Term Deferred Tax Assets | 8.59M | 8.59M | 6.63M | 5.01M | 3.28M | 2.36M |
| Other Long-Term Assets | 1.96M | 105.30M | 95.11M | 96.06M | 95.46M | 82.83M |
| Total Assets | 1.65B | 1.55B | 1.53B | 1.49B | 1.47B | 1.62B |
| Accrued Expenses | 44.15M | 37.55M | 31.66M | 32.26M | 28.10M | |
| Insurance & Annuity Liabilities | 110.13M | 113.75M | 143.07M | 150.94M | 153.88M | 157.07M |
| Unpaid Claims | 46.56M | 37.64M | 54.86M | 45.35M | 50.35M | 53.05M |
| Unearned Premiums | 6.25M | 7.91M | 4.60M | 9.33M | 18.27M | 19.84M |
| Reinsurance Payable | 2.00M | 2.00M | 1.99M | 1.99M | 1.99M | 1.87M |
| Current Income Taxes Payable | 372.37M | 324.99M | 276.93M | 230.93M | 365.05M | |
| Long-Term Debt | 25.00M | |||||
| Long-Term Leases | 7.88M | 7.88M | 7.11M | 5.95M | 8.35M | 10.44M |
| Other Current Liabilities | 5.09M | 13.45M | 15.20M | 19.36M | 17.86M | 13.82M |
| Other Long-Term Liabilities | 460.76M | 4.95M | 1.51M | 8.51M | 14.73M | 16.07M |
| Total Liabilities | 653.65M | 627.39M | 614.33M | 571.19M | 549.88M | 697.80M |
| Common Stock | 710.40M | 710.40M | 710.40M | 710.40M | 710.40M | 710.40M |
| Retained Earnings | 271.48M | 199.67M | 191.66M | 189.99M | 191.87M | 188.41M |
| Comprehensive Income & Other | 16.26M | 16.26M | 17.09M | 17.96M | 18.88M | 19.85M |
| Shareholders' Equity | 998.14M | 926.33M | 919.15M | 918.35M | 921.14M | 918.66M |
| Total Liabilities & Equity | 1.65B | 1.55B | 1.53B | 1.49B | 1.47B | 1.62B |
| Filing Date Shares Outstanding | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M |
| Total Common Shares Outstanding | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M | 71.04M |
| Total Debt | 7.88M | 7.88M | 7.11M | 5.95M | 8.35M | 35.44M |
| Net Cash (Debt) | 338.39M | 280.93M | 360.02M | 461.92M | 486.78M | 457.19M |
| Net Cash Per Share | 4.76 | 3.95 | 5.07 | 6.50 | 6.85 | 6.44 |
| Book Value Per Share | 14.05 | 13.04 | 12.94 | 12.93 | 12.97 | 12.93 |
| Tangible Book Value | 996.77M | 924.85M | 917.55M | 916.83M | 919.62M | 917.06M |
| Tangible Book Value Per Share | 14.03 | 13.02 | 12.92 | 12.91 | 12.95 | 12.91 |
| Land | 20.22M | 20.22M | 18.12M | 18.12M | ||
| Buildings | 147.08M | 147.08M | 120.70M | 120.70M | ||
| Machinery | 159.77M | 164.68M | 173.15M | 171.73M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 98.98M | 78.18M | 71.79M | 68.20M | 73.48M | 96.36M |
| Depreciation & Amortization | 15.90M | 16.00M | 18.94M | 20.71M | 22.68M | 13.33M |
| Other Amortization | 239.54K | 239.54K | 227.55K | 255.63K | 266.06K | 281.65K |
| Gain (Loss) on Sale of Assets | -2.05M | -2.05M | -1.36M | -3.88M | ||
| Change in Accounts Receivable | 2.54M | 2.54M | 50.00K | 2.05M | 1.33M | 1.99M |
| Change in Insurance Reserves / Liabilities | -13.36M | -17.22M | 9.51M | -5.00M | -2.70M | -701.32K |
| Change in Other Net Operating Assets | -63.41M | -60.29M | -109.58M | -25.04M | 13.36M | 41.60M |
| Other Operating Activities | 2.02M | -10.46M | -10.29M | 4.91M | 9.10M | 43.70M |
| Operating Cash Flow | 39.02M | 6.93M | -20.71M | 66.08M | 117.52M | 192.67M |
| Capital Expenditures | -816.24K | -828.48K | -6.19M | -18.46M | -23.74M | -17.66M |
| Sale of Property, Plant & Equipment | 2.24M | 2.24M | 2.43M | 56.81K | 32.38K | 5.21M |
| Investment in Securities | -1.00M | -12.70M | -851.81K | 10.13M | -5.00M | |
| Investing Cash Flow | 422.99K | -11.29M | -3.76M | -19.25M | -13.57M | -17.46M |
| Total Debt Repaid | -2.95M | -2.95M | -4.49M | -5.43M | -31.83M | -45.16M |
| Lease Payments | -2.95M | -2.95M | -4.49M | -5.43M | -6.83M | -8.42M |
| Net Debt Issued (Repaid) | -2.95M | -2.95M | -4.49M | -5.43M | -31.83M | -45.16M |
| Common Dividends Paid | -71.02M | -71.02M | -71.79M | -68.65M | -69.62M | |
| Financing Cash Flow | -73.96M | -73.96M | -76.28M | -74.08M | -101.45M | -45.16M |
| Miscellaneous Cash Flow Adjustments | 1.00 | 1.00 | -1.00 | |||
| Net Cash Flow | -34.52M | -78.32M | -100.74M | -27.26M | 2.50M | 130.05M |
| Free Cash Flow | 38.21M | 6.10M | -26.89M | 47.62M | 93.78M | 175.01M |
| Free Cash Flow Margin | 8.73% | 1.37% | -5.67% | 9.61% | 19.43% | 37.12% |
| Free Cash Flow Per Share | 0.54 | 0.09 | -0.38 | 0.67 | 1.32 | 2.46 |
| Levered Free Cash Flow | 3.39M | 31.38M | 12.67M | 52.55M | 68.89M | 167.38M |
| Unlevered Free Cash Flow | 3.83M | 31.83M | 13.02M | 52.98M | 69.48M | 167.94M |
| Free Cash Flow After Leases | 35.26M | 3.15M | -31.38M | 42.19M | 86.95M | 166.59M |
| Cash Income Tax Paid | 63.23M | 56.61M | 57.22M | 41.52M | 30.42M | |
| Change in Working Capital | -76.07M | -74.98M | -100.02M | -28.00M | 11.99M | 42.89M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.93B | 1.34B | 1.29B | 1.74B | 1.76B | 2.54B |
| Enterprise Value | 1.64B | 1.04B | 907.43M | 1.32B | 1.27B | 2.17B |
| PE Ratio | 19.21 | 17.18 | 18.01 | 25.52 | 23.98 | 26.39 |
| PS Ratio | 4.09 | 3.02 | 2.73 | 3.51 | 3.65 | 5.39 |
| PB Ratio | 2.05 | 1.45 | 1.41 | 1.90 | 1.91 | 2.77 |
| P/FCF Ratio | 36.41 | 220.15 | 36.55 | 18.79 | 14.53 | |
| P/OCF Ratio | 35.65 | 193.82 | 26.34 | 14.99 | 13.20 | |
| EV/Sales Ratio | 3.49 | 2.34 | 1.91 | 2.66 | 2.62 | 4.59 |
| EV/EBITDA Ratio | 9.38 | 7.61 | 6.83 | 10.20 | 9.82 | 15.23 |
| EV/EBIT Ratio | 10.31 | 8.39 | 7.64 | 11.52 | 11.19 | 15.80 |
| EV/FCF Ratio | 31.11 | 170.98 | 27.72 | 13.50 | 12.38 | |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 |
| Debt / EBITDA Ratio | 0.05 | 0.06 | 0.05 | 0.04 | 0.06 | 0.24 |
| Debt / FCF Ratio | 0.21 | 1.29 | 0.12 | 0.09 | 0.20 | |
| Net Debt / Equity Ratio | -0.34 | -0.30 | -0.39 | -0.50 | -0.53 | -0.50 |
| Net Debt / EBITDA Ratio | -1.99 | -2.05 | -2.71 | -3.57 | -3.77 | -3.21 |
| Net Debt / FCF Ratio | -8.86 | -46.06 | 13.39 | -9.70 | -5.19 | -2.61 |
| Quick Ratio | 13.07 | 0.66 | 0.90 | 1.29 | 1.49 | 1.09 |
| Current Ratio | 22.67 | 2.59 | 2.77 | 3.09 | 3.30 | 2.67 |
| Asset Turnover | 0.27 | 0.29 | 0.31 | 0.34 | 0.31 | 0.30 |
| Return on Equity (ROE) | 10.07% | 8.47% | 7.81% | 7.41% | 7.99% | 10.96% |
| Return on Assets (ROA) | 6.08% | 5.03% | 4.91% | 4.84% | 4.58% | 5.50% |
| Return on Invested Capital (ROIC) | 10.08% | 8.45% | 7.80% | 7.40% | 7.87% | 10.12% |
| Earnings Yield | 5.21% | 5.82% | 5.55% | 3.92% | 4.17% | 3.79% |
| FCF Yield | 2.75% | 0.45% | -2.08% | 2.74% | 5.32% | 6.88% |
| Dividend Yield | 3.69% | 5.29% | 5.50% | 4.08% | 4.03% | 2.79% |
| Payout Ratio | 70.07% | 90.84% | 99.99% | 100.66% | 94.75% | |
| Total Shareholder Return | 3.69% | 5.29% | 5.50% | 4.08% | 4.03% | 2.79% |