DSE : PHENIXINS
Phoenix Insurance PLC. — Financial statements
Insurance Carriers · Bangladesh
Last price 43 BDT (At close: Oct 28, 2026) · Market cap 1.73B
Latest research: Phoenix Insurance financial analysis: combined ratio 90.7% in 2025 and a Tk 48m fire loss (Oct 2026) · Phoenix Insurance: 2025 EPS Tk 2.02, combined ratio 90.7% and a fire loss of Tk 48.1m
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 448.98M | 420.38M | 418.63M | 274.10M | 378.48M | 380.32M |
| Total Interest & Dividend Income | 55.92M | 51.09M | 36.56M | 31.07M | 32.49M | 33.55M |
| Gain (Loss) on Sale of Investments | 26.67M | 26.67M | 398.38K | -2.03M | ||
| Other Revenue | 76.38M | 73.46M | 67.89M | 80.21M | 53.06M | 69.93M |
| Total Revenue | 607.95M | 571.59M | 523.47M | 383.35M | 464.02M | 483.80M |
| Policy Benefits | 115.55M | 105.50M | 77.39M | -77.10M | 7.55M | 60.72M |
| Policy Acquisition & Underwriting Costs | 62.32M | 114.14M | 99.69M | 90.98M | 80.14M | 46.25M |
| Depreciation & Amortization | 24.16M | 24.16M | 37.36M | 36.42M | 34.15M | 11.94M |
| Selling, General & Administrative | 238.50M | 226.64M | 232.99M | 238.48M | 227.58M | 239.65M |
| Total Operating Expenses | 463.08M | 475.77M | 453.36M | 299.93M | 359.42M | 369.56M |
| Operating Income | 144.86M | 95.82M | 70.11M | 83.42M | 104.60M | 114.25M |
| Other Non Operating Income (Expenses) | -1.19M | -1.19M | -1.51M | -1.21M | -1.52M | -1.03M |
| EBT Excluding Unusual Items | 143.67M | 94.63M | 68.60M | 82.21M | 103.08M | 113.22M |
| Gain (Loss) on Sale of Assets | 673.61K | 673.61K | 892.44K | -349.04K | 1.86M | 3.71M |
| Pretax Income | 144.34M | 95.31M | 69.50M | 81.86M | 104.95M | 116.93M |
| Income Tax Expense | 31.79M | 13.74M | 8.61M | 17.67M | 23.45M | 28.14M |
| Net Income | 112.55M | 81.57M | 60.88M | 64.19M | 81.49M | 88.79M |
| Net Income to Common | 112.55M | 81.57M | 60.88M | 64.19M | 81.49M | 88.79M |
| Shares Outstanding (Basic) | 40.30M | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M |
| Shares Outstanding (Diluted) | 40.30M | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M |
| EPS (Basic) | 2.79 | 2.02 | 1.51 | 1.59 | 2.02 | 2.20 |
| EPS (Diluted) | 2.79 | 2.02 | 1.51 | 1.59 | 2.02 | 2.20 |
| Free Cash Flow | 92.68M | 15.03M | -11.35M | 27.26M | 39.49M | 148.57M |
| Free Cash Flow Per Share | 2.30 | 0.37 | -0.28 | 0.68 | 0.98 | 3.68 |
| Dividend Per Share | 1.20 | 1.20 | 1.00 | 1.20 | 1.50 | 1.50 |
| Operating Margin | 23.83% | 16.76% | 13.39% | 21.76% | 22.54% | 23.61% |
| Profit Margin | 18.51% | 14.27% | 11.63% | 16.74% | 17.56% | 18.35% |
| Free Cash Flow Margin | 15.24% | 2.63% | -2.17% | 7.11% | 8.51% | 30.71% |
| EBITDA | 157.14M | 107.53M | 82.50M | 94.95M | 118.18M | 126.18M |
| EBITDA Margin | 25.85% | 18.81% | 15.76% | 24.77% | 25.47% | 26.08% |
| D&A For EBITDA | 12.28M | 11.70M | 12.39M | 11.53M | 13.57M | 11.94M |
| EBIT | 144.86M | 95.82M | 70.11M | 83.42M | 104.60M | 114.25M |
| EBIT Margin | 23.83% | 16.76% | 13.39% | 21.76% | 22.54% | 23.61% |
| Effective Tax Rate | 22.02% | 14.42% | 12.39% | 21.58% | 22.35% | 24.07% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 65.00M | 60.00M | 60.00M | 60.00M | 60.00M | |
| Investments in Equity & Preferred Securities | 313.29M | 306.56M | 518.47M | 519.67M | 668.00M | |
| Total Investments | 540.98M | 378.29M | 366.56M | 578.47M | 579.67M | 728.00M |
| Cash & Equivalents | 416.01M | 402.47M | 421.17M | 479.80M | 511.52M | 528.07M |
| Reinsurance Recoverable | 368.81M | 278.29M | 216.68M | 224.53M | 262.10M | |
| Other Receivables | 1.20B | 316.03M | 294.99M | 223.36M | 195.85M | 193.23M |
| Property, Plant & Equipment | 315.79M | 330.16M | 296.68M | 301.22M | 330.51M | 288.46M |
| Other Current Assets | 1.47M | 512.02M | 479.00M | 438.73M | 404.36M | 368.95M |
| Other Long-Term Assets | 25.00M | 25.00M | 25.00M | 25.00M | 25.00M | |
| Total Assets | 2.48B | 2.33B | 2.16B | 2.26B | 2.27B | 2.39B |
| Accrued Expenses | 37.53M | 37.20M | 26.75M | 27.68M | 31.98M | |
| Insurance & Annuity Liabilities | 174.13M | 175.41M | 111.42M | 151.96M | 153.15M | |
| Unpaid Claims | 72.38M | 50.04M | 64.70M | 63.52M | 66.01M | |
| Unearned Premiums | 16.12M | 15.12M | 17.90M | 11.57M | 35.45M | |
| Reinsurance Payable | 131.68M | 74.79M | 40.51M | 31.08M | 55.65M | |
| Short-Term Debt | 30.00K | 30.00K | 30.00K | |||
| Current Income Taxes Payable | 395.81M | 395.95M | 382.23M | 360.37M | 332.80M | |
| Long-Term Leases | 48.78M | 9.66M | 18.73M | 34.31M | ||
| Long-Term Deferred Tax Liabilities | 30.09M | 32.46M | 42.67M | 46.67M | 65.68M | |
| Other Current Liabilities | 698.53M | 10.89M | 9.53M | 7.32M | 6.89M | 9.45M |
| Other Long-Term Liabilities | 196.21M | 1.03M | 1.24M | 1.24M | 1.45M | 2.33M |
| Total Liabilities | 933.82M | 967.09M | 853.99M | 761.18M | 774.68M | 784.04M |
| Common Stock | 403.42M | 403.42M | 403.42M | 403.42M | 403.42M | 403.42M |
| Additional Paid-In Capital | 897.12K | 897.12K | 897.12K | 897.12K | 897.12K | 897.12K |
| Retained Earnings | 791.39M | 732.60M | 690.72M | 677.56M | 673.15M | 651.39M |
| Comprehensive Income & Other | 346.08M | 228.78M | 212.67M | 420.21M | 419.29M | 554.07M |
| Shareholders' Equity | 1.54B | 1.37B | 1.31B | 1.50B | 1.50B | 1.61B |
| Total Liabilities & Equity | 2.48B | 2.33B | 2.16B | 2.26B | 2.27B | 2.39B |
| Filing Date Shares Outstanding | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M |
| Total Common Shares Outstanding | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M | 40.34M |
| Total Debt | 39.07M | 48.78M | 9.66M | 18.76M | 34.34M | 30.00K |
| Net Cash (Debt) | 376.94M | 353.69M | 411.51M | 461.05M | 477.17M | 528.04M |
| Net Cash Per Share | 9.35 | 8.77 | 10.20 | 11.43 | 11.83 | 13.09 |
| Book Value Per Share | 38.22 | 33.85 | 32.42 | 37.23 | 37.10 | 39.90 |
| Tangible Book Value | 1.54B | 1.37B | 1.31B | 1.50B | 1.50B | 1.61B |
| Tangible Book Value Per Share | 38.22 | 33.85 | 32.42 | 37.23 | 37.10 | 39.90 |
| Land | 152.82M | 152.82M | 152.82M | 152.82M | 152.82M | |
| Buildings | 161.41M | 161.41M | 161.41M | 161.41M | 161.41M | |
| Machinery | 171.97M | 166.66M | 147.98M | 145.59M | 133.35M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 112.55M | 81.57M | 60.88M | 64.19M | 81.49M | 88.79M |
| Depreciation & Amortization | 24.74M | 24.16M | 37.36M | 11.53M | 13.57M | 11.94M |
| Gain (Loss) on Sale of Assets | 1.86M | 3.71M | ||||
| Change in Accounts Receivable | 358.04K | 999.93K | -2.78M | 6.33M | -23.88M | 10.36M |
| Change in Deferred Taxes | -51.18M | -5.13M | 859.44K | 15.16M | ||
| Change in Insurance Reserves / Liabilities | 17.63M | 22.33M | -14.26M | 779.91K | -2.49M | -25.48M |
| Change in Other Net Operating Assets | -29.26M | -83.13M | -37.24M | -48.36M | -12.48M | 72.21M |
| Other Operating Activities | 23.22M | -17.84M | -35.73M | -19.34M | -2.90M | 1.00M |
| Operating Cash Flow | 97.52M | 22.48M | 8.91M | 30.19M | 55.38M | 162.53M |
| Capital Expenditures | -4.84M | -7.45M | -20.26M | -2.93M | -15.90M | -13.96M |
| Sale of Property, Plant & Equipment | 673.61K | 673.61K | 2.09M | 5.43M | ||
| Investment in Securities | -163.35M | -143.28M | -134.44K | -554.68K | -31.22M | |
| Other Investing Activities | 90.58M | 90.58M | ||||
| Investing Cash Flow | -76.93M | -59.47M | -20.26M | -3.07M | -14.36M | -39.75M |
| Common Dividends Paid | -40.34M | -40.34M | -47.28M | -58.84M | -57.58M | -59.45M |
| Financing Cash Flow | -40.34M | -40.34M | -47.28M | -58.84M | -57.58M | -59.45M |
| Miscellaneous Cash Flow Adjustments | 1.00 | |||||
| Net Cash Flow | -19.75M | -77.33M | -58.63M | -31.71M | -16.55M | 63.33M |
| Free Cash Flow | 92.68M | 15.03M | -11.35M | 27.26M | 39.49M | 148.57M |
| Free Cash Flow Margin | 15.24% | 2.63% | -2.17% | 7.11% | 8.51% | 30.71% |
| Free Cash Flow Per Share | 2.30 | 0.37 | -0.28 | 0.68 | 0.98 | 3.68 |
| Levered Free Cash Flow | -113.33M | 13.78M | -69.36M | 44.99M | 32.36M | 147.38M |
| Unlevered Free Cash Flow | -113.33M | 13.78M | -69.36M | 44.99M | 32.36M | 147.38M |
| Cash Income Tax Paid | 13.07M | 18.09M | 18.28M | 35.83M | 26.36M | 27.24M |
| Change in Working Capital | -62.99M | -65.39M | -53.60M | -26.18M | -38.65M | 57.09M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.74B | 1.10B | 1.07B | 1.48B | 1.53B | 2.42B |
| Enterprise Value | 1.37B | 737.13M | 629.34M | 1.02B | 1.02B | 1.97B |
| PE Ratio | 15.47 | 13.45 | 17.56 | 23.07 | 18.76 | 27.22 |
| PS Ratio | 2.87 | 1.92 | 2.04 | 3.86 | 3.29 | 5.00 |
| PB Ratio | 1.13 | 0.80 | 0.82 | 0.99 | 1.02 | 1.50 |
| P/FCF Ratio | 18.80 | 73.00 | 54.31 | 38.72 | 16.27 | |
| P/OCF Ratio | 17.87 | 48.80 | 119.98 | 49.03 | 27.61 | 14.87 |
| EV/Sales Ratio | 2.25 | 1.29 | 1.20 | 2.67 | 2.20 | 4.08 |
| EV/EBITDA Ratio | 8.05 | 6.86 | 7.63 | 10.79 | 8.66 | 15.63 |
| EV/EBIT Ratio | 9.43 | 7.69 | 8.98 | 12.29 | 9.78 | 17.27 |
| EV/FCF Ratio | 14.74 | 49.04 | 37.59 | 25.91 | 13.28 | |
| Debt / Equity Ratio | 0.03 | 0.04 | 0.01 | 0.01 | 0.02 | 0.00 |
| Debt / EBITDA Ratio | 0.23 | 0.41 | 0.09 | 0.20 | 0.29 | 0.00 |
| Debt / FCF Ratio | 0.42 | 3.25 | 0.69 | 0.87 | 0.00 | |
| Net Debt / Equity Ratio | -0.24 | -0.26 | -0.32 | -0.31 | -0.32 | -0.33 |
| Net Debt / EBITDA Ratio | -2.40 | -3.29 | -4.99 | -4.86 | -4.04 | -4.18 |
| Net Debt / FCF Ratio | -4.07 | -23.53 | 36.26 | -16.91 | -12.09 | -3.55 |
| Quick Ratio | 2.19 | 1.08 | 1.23 | 1.30 | 1.41 | 1.35 |
| Current Ratio | 2.19 | 2.41 | 2.53 | 2.52 | 2.67 | 2.54 |
| Asset Turnover | 0.26 | 0.25 | 0.24 | 0.17 | 0.20 | 0.20 |
| Return on Equity (ROE) | 7.82% | 6.10% | 4.33% | 4.28% | 5.25% | 5.57% |
| Return on Assets (ROA) | 3.90% | 2.67% | 1.98% | 2.30% | 2.80% | 3.02% |
| Return on Invested Capital (ROIC) | 7.43% | 6.00% | 4.33% | 4.29% | 5.17% | 5.39% |
| Earnings Yield | 6.46% | 7.43% | 5.70% | 4.34% | 5.33% | 3.67% |
| FCF Yield | 5.32% | 1.37% | -1.06% | 1.84% | 2.58% | 6.15% |
| Dividend Yield | 2.78% | 4.41% | 3.77% | 3.27% | 3.96% | 2.50% |
| Payout Ratio | 35.84% | 49.46% | 77.66% | 91.66% | 70.65% | 66.96% |
| Total Shareholder Return | 2.76% | 4.41% | 3.77% | 3.27% | 3.96% | 2.50% |