Steadfast Group (SDF) H2 2026 earnings summary

Executive summary

• Statutory NPAT for FY 2026 was $269.1 million, down from $334.9 million due to non-trading items and prior year one-off gains; underlying NPAT rose 8.2% to $319.5 million.

• Underlying EBITA increased 13.8% to $669.8 million; underlying NPATA up 7.1% to $366.3 million.

• Underlying diluted EPS (NPAT) was 28.8 cps, up 7.7%; total FY26 dividend was 20.95 cps, up 7.4%.

• A Scheme Implementation Deed was signed for acquisition by Amwins, Dragoneer, and KKR at $6.00 per share, a 51.9% premium to the closing price on June 9, 2026, with implementation targeted for December 2026.

• The board unanimously recommends the scheme, subject to customary and independent expert approvals.

Financial highlights

• Revenue increased 15.3% to $2.1 billion; underlying EBITA up 13.8% to $669.8 million.

• Underlying NPAT up 8.2% to $319.5 million; diluted EPS up 7.7%.

• Broking network GWP grew 6.2% to $13.2 billion; professional services fees up 2.5% to $7.5 billion.

• Underwriting Agencies GWP up 2.3% to $2.5 billion; EBITA up 5.2%.

• Free cash flow after dividends/distributions $166.6 million, up from $124.9 million.

Outlook and guidance

• FY27 guidance: underlying NPATA $382–$392 million, underlying NPAT $333–$343 million, underlying EBITA $700–$715 million.

• Underlying diluted EPS and NPAT growth expected between 4% and 8%; assumes 2%–3% premium rate increase.

• Strategic priorities include organic and inorganic growth, US network expansion, technology investment, and AI-enabled solutions.