DSE : PIONEERINS
Pioneer Insurance PLC — Financial statements
Insurance Carriers · Bangladesh
Last price 65.2 BDT (At close: Oct 29, 2026) · Market cap 6.70B
Latest research: Pioneer Insurance financial analysis: combined ratio 68% and 9M 2026 EPS up 40% after commission ended (Oct 2026) · Pioneer Insurance: a fire-led top-three insurer whose 2026 profit rose after agency commission was discontinued
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Technical report: trend, RSI, support and resistance, charts
Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 2.10B | 2.06B | 1.61B | 1.71B | 1.66B | 1.58B |
| Total Interest & Dividend Income | 150.60M | 153.04M | 194.83M | 117.06M | 122.37M | 98.12M |
| Gain (Loss) on Sale of Investments | 6.30M | 6.30M | 1.96M | 8.35M | -4.55M | |
| Other Revenue | 240.01M | 206.24M | 187.81M | 151.02M | 178.66M | 139.61M |
| Total Revenue | 2.50B | 2.42B | 2.00B | 1.98B | 1.97B | 1.81B |
| Policy Benefits | 799.42M | 592.15M | 265.22M | 272.12M | 334.79M | 321.13M |
| Policy Acquisition & Underwriting Costs | 564.08M | 564.08M | 467.11M | 431.45M | 402.24M | 162.55M |
| Depreciation & Amortization | 23.05M | 23.05M | 26.20M | 27.34M | 26.67M | 17.53M |
| Selling, General & Administrative | 324.69M | 652.11M | 604.21M | 563.09M | 484.42M | 464.99M |
| Total Operating Expenses | 1.71B | 1.83B | 1.36B | 1.29B | 1.25B | 966.20M |
| Operating Income | 789.33M | 590.57M | 633.64M | 688.33M | 725.03M | 848.22M |
| Other Non Operating Income (Expenses) | -7.57M | -7.57M | -7.02M | -7.10M | -6.55M | -7.48M |
| EBT Excluding Unusual Items | 781.76M | 583.00M | 626.62M | 681.23M | 718.48M | 840.73M |
| Gain (Loss) on Sale of Assets | 2.45M | 2.45M | 4.65M | 133.30K | ||
| Pretax Income | 784.21M | 585.45M | 631.27M | 681.23M | 718.48M | 840.87M |
| Income Tax Expense | 214.94M | 138.92M | 162.59M | 195.18M | 203.05M | 254.23M |
| Net Income | 569.27M | 446.53M | 468.67M | 486.05M | 515.43M | 586.64M |
| Net Income to Common | 569.27M | 446.53M | 468.67M | 486.05M | 515.43M | 586.64M |
| Shares Outstanding (Basic) | 106.36M | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M |
| Shares Outstanding (Diluted) | 106.36M | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M |
| EPS (Basic) | 5.35 | 4.35 | 4.56 | 4.73 | 5.02 | 5.71 |
| EPS (Diluted) | 5.35 | 4.35 | 4.56 | 4.73 | 5.02 | 5.71 |
| Free Cash Flow | 492.81M | 285.47M | -107.55M | -218.25M | 596.00M | 649.56M |
| Free Cash Flow Per Share | 4.63 | 2.78 | -1.05 | -2.12 | 5.80 | 6.33 |
| Dividend Per Share | 2.38 | 2.38 | 2.38 | 1.73 | 2.06 | 1.87 |
| Operating Margin | 31.57% | 24.38% | 31.74% | 34.72% | 36.74% | 46.75% |
| Profit Margin | 22.77% | 18.44% | 23.48% | 24.52% | 26.12% | 32.33% |
| Free Cash Flow Margin | 19.71% | 11.79% | -5.39% | -11.01% | 30.21% | 35.80% |
| EBITDA | 812.93M | 613.62M | 659.84M | 715.66M | 751.70M | 865.75M |
| EBITDA Margin | 32.51% | 25.34% | 33.05% | 36.10% | 38.10% | 47.72% |
| D&A For EBITDA | 23.60M | 23.05M | 26.20M | 27.34M | 26.67M | 17.53M |
| EBIT | 789.33M | 590.57M | 633.64M | 688.33M | 725.03M | 848.22M |
| EBIT Margin | 31.57% | 24.38% | 31.74% | 34.72% | 36.74% | 46.75% |
| Effective Tax Rate | 27.41% | 23.73% | 25.76% | 28.65% | 28.26% | 30.23% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 125.00M | |||||
| Investments in Equity & Preferred Securities | 1.09B | 1.07B | 1.28B | 1.26B | 1.32B | |
| Total Investments | 1.70B | 1.09B | 1.07B | 1.28B | 1.26B | 1.44B |
| Cash & Equivalents | 1.37B | 1.47B | 1.44B | 1.69B | 2.12B | 1.88B |
| Reinsurance Recoverable | 2.05B | 1.72B | 1.35B | 657.40M | 950.88M | |
| Other Receivables | 3.43B | 211.82M | 77.47M | 35.07M | 63.69M | 33.49M |
| Property, Plant & Equipment | 479.74M | 473.61M | 483.40M | 503.27M | 520.96M | 515.86M |
| Other Current Assets | 9.10M | 1.03B | 947.80M | 834.11M | 1.07B | 971.95M |
| Other Long-Term Assets | 287.66M | 275.54M | 272.92M | 269.84M | 6.32M | |
| Total Assets | 6.99B | 6.61B | 6.01B | 5.97B | 5.96B | 5.80B |
| Accrued Expenses | 139.57M | 110.30M | 125.16M | 127.00M | 131.05M | |
| Insurance & Annuity Liabilities | 740.97M | 854.39M | 660.24M | 714.76M | 670.57M | 657.25M |
| Unpaid Claims | 413.01M | 381.29M | 278.02M | 280.68M | 375.81M | 392.83M |
| Unearned Premiums | 303.66M | 288.31M | 289.88M | 251.84M | 234.59M | 226.69M |
| Current Income Taxes Payable | 280.03M | 235.44M | 230.87M | 482.11M | 533.79M | |
| Long-Term Deferred Tax Liabilities | 59.39M | 56.75M | 77.75M | 75.34M | 85.74M | |
| Other Current Liabilities | 573.55M | 1.19M | 2.30M | 3.53M | 1.23M | 2.47M |
| Other Long-Term Liabilities | 13.21M | 13.64M | 19.66M | 19.12M | 22.87M | |
| Total Liabilities | 2.03B | 2.02B | 1.65B | 1.70B | 1.99B | 2.05B |
| Common Stock | 1.03B | 978.01M | 978.01M | 889.10M | 846.77M | 769.79M |
| Additional Paid-In Capital | 144.00M | 144.00M | 144.00M | 144.00M | 144.00M | 144.00M |
| Retained Earnings | 3.08B | 2.94B | 2.74B | 2.54B | 2.31B | 2.06B |
| Comprehensive Income & Other | 705.64M | 527.83M | 503.34M | 693.15M | 671.16M | 769.71M |
| Shareholders' Equity | 4.96B | 4.59B | 4.37B | 4.27B | 3.97B | 3.75B |
| Total Liabilities & Equity | 6.99B | 6.61B | 6.01B | 5.97B | 5.96B | 5.80B |
| Filing Date Shares Outstanding | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M |
| Total Common Shares Outstanding | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M | 102.69M |
| Net Cash (Debt) | 1.37B | 1.47B | 1.44B | 1.69B | 2.12B | 1.88B |
| Net Cash Per Share | 12.91 | 14.33 | 14.03 | 16.48 | 20.67 | 18.30 |
| Book Value Per Share | 48.28 | 44.73 | 42.53 | 41.54 | 38.66 | 36.47 |
| Tangible Book Value | 4.96B | 4.59B | 4.37B | 4.27B | 3.97B | 3.75B |
| Tangible Book Value Per Share | 48.28 | 44.73 | 42.53 | 41.54 | 38.66 | 36.47 |
| Machinery | 236.49M | 213.32M | 217.62M | 231.60M | 227.06M | 219.48M |
| Construction In Progress | 314.15M | 314.15M | 314.15M | 314.15M | 314.15M | 314.15M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 569.27M | 446.53M | 468.67M | 486.05M | 515.43M | 586.64M |
| Depreciation & Amortization | 41.22M | 23.05M | 26.20M | 27.34M | 26.67M | 17.53M |
| Gain (Loss) on Sale of Assets | -133.30K | |||||
| Change in Income Taxes | -236.65M | -124.41M | -187.93M | -165.84M | -250.28M | -243.38M |
| Change in Insurance Reserves / Liabilities | 215.72M | 297.43M | -57.18M | -50.94M | -3.70M | -48.62M |
| Change in Other Net Operating Assets | -587.11M | -479.10M | -501.21M | -696.42M | 150.11M | 99.72M |
| Other Operating Activities | 517.72M | 138.92M | 162.59M | 195.18M | 203.05M | 254.23M |
| Operating Cash Flow | 520.18M | 302.42M | -88.85M | -204.63M | 641.28M | 665.99M |
| Capital Expenditures | -27.36M | -16.95M | -18.70M | -13.62M | -45.27M | -16.43M |
| Sale of Property, Plant & Equipment | 3.69M | 3.69M | 12.38M | 3.97M | 13.50M | 7.74M |
| Investment in Securities | -212.66M | 521.98K | 21.09M | -4.06M | -173.23M | -163.30M |
| Other Investing Activities | -14.62M | -14.62M | ||||
| Investing Cash Flow | -250.95M | -27.36M | 14.77M | -13.71M | -205.00M | -171.99M |
| Common Dividends Paid | -244.50M | -244.50M | -177.82M | -211.69M | -192.45M | -139.96M |
| Financing Cash Flow | -244.50M | -244.50M | -177.82M | -211.69M | -192.45M | -139.96M |
| Net Cash Flow | 24.72M | 30.56M | -251.90M | -430.03M | 243.83M | 354.04M |
| Free Cash Flow | 492.81M | 285.47M | -107.55M | -218.25M | 596.00M | 649.56M |
| Free Cash Flow Margin | 19.71% | 11.79% | -5.39% | -11.01% | 30.21% | 35.80% |
| Free Cash Flow Per Share | 4.63 | 2.78 | -1.05 | -2.12 | 5.80 | 6.33 |
| Levered Free Cash Flow | 142.87M | 133.53M | -60.71M | -333.76M | 551.82M | 520.50M |
| Unlevered Free Cash Flow | 142.87M | 133.53M | -60.71M | -333.76M | 551.82M | 520.50M |
| Cash Income Tax Paid | 132.24M | 124.41M | 187.93M | 165.84M | 250.28M | 243.38M |
| Change in Working Capital | -608.04M | -306.08M | -746.31M | -913.19M | -103.88M | -192.27M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.70B | 4.63B | 4.69B | 6.05B | 6.05B | 9.00B |
| Enterprise Value | 5.32B | 3.28B | 3.50B | 4.58B | 3.94B | 7.39B |
| PE Ratio | 12.18 | 10.36 | 10.02 | 12.46 | 11.75 | 15.34 |
| PS Ratio | 2.68 | 1.91 | 2.35 | 3.05 | 3.07 | 4.96 |
| PB Ratio | 1.35 | 1.01 | 1.07 | 1.42 | 1.52 | 2.40 |
| P/FCF Ratio | 13.59 | 16.20 | 10.16 | 13.85 | ||
| P/OCF Ratio | 12.87 | 15.30 | 9.44 | 13.51 | ||
| EV/Sales Ratio | 2.13 | 1.35 | 1.75 | 2.31 | 2.00 | 4.07 |
| EV/EBITDA Ratio | 6.55 | 5.34 | 5.31 | 6.41 | 5.24 | 8.53 |
| EV/EBIT Ratio | 6.74 | 5.55 | 5.53 | 6.66 | 5.43 | 8.71 |
| EV/FCF Ratio | 10.80 | 11.48 | 6.61 | 11.37 | ||
| Net Debt / Equity Ratio | -0.28 | -0.32 | -0.33 | -0.40 | -0.54 | -0.50 |
| Net Debt / EBITDA Ratio | -1.69 | -2.40 | -2.18 | -2.37 | -2.82 | -2.17 |
| Net Debt / FCF Ratio | -2.79 | -5.16 | 13.40 | 7.76 | -3.56 | -2.89 |
| Quick Ratio | 3.20 | 1.35 | 1.57 | 1.90 | 1.74 | 1.46 |
| Current Ratio | 3.21 | 4.21 | 4.52 | 4.38 | 3.18 | 2.97 |
| Asset Turnover | 0.38 | 0.38 | 0.33 | 0.33 | 0.34 | 0.33 |
| Return on Equity (ROE) | 11.95% | 9.97% | 10.86% | 11.80% | 13.36% | 16.23% |
| Return on Assets (ROA) | 7.45% | 5.85% | 6.61% | 7.21% | 7.71% | 9.52% |
| Return on Invested Capital (ROIC) | 11.68% | 10.05% | 10.90% | 11.93% | 13.48% | 16.38% |
| Earnings Yield | 8.21% | 9.65% | 9.98% | 8.03% | 8.51% | 6.52% |
| FCF Yield | 7.36% | 6.17% | -2.29% | -3.60% | 9.84% | 7.22% |
| Dividend Yield | 3.65% | 5.29% | 5.21% | 2.94% | 3.50% | 2.14% |
| Payout Ratio | 42.95% | 54.76% | 37.94% | 43.55% | 37.34% | 23.86% |
| Buyback Yield / Dilution | -7.41% | 0.00% | 0.00% | 0.00% | ||
| Total Shareholder Return | -3.75% | 5.29% | 5.21% | 2.94% | 3.50% | 2.14% |