Steadfast’s Underlying Revenue Rises 14.6% to $1bn in H1’26

Why It Matters

The earnings surge and dividend hike demonstrate Steadfast’s strong market positioning and provide investors with confidence in sustained profit growth and cash returns.

Key Takeaways

• Underlying revenue hit $1 bn, +14.6% YoY
• EBITA rose 12.6% to $293.6 m
• Dividend increased 5.1% to 8.2 cps
• Australasian brokers GWP $6.4 bn, +4.4% growth
• New CFO Hannah Lee starts Feb 2026

Pulse Analysis

Steadfast Group posted a landmark $1 billion underlying revenue for the first half of FY2026, marking a 14.6% increase over the same period last year. The Australian broker’s growth outpaced the broader insurance market, which has been constrained by slower premium inflation and lingering pandemic effects. Analysts attribute the surge to a combination of organic expansion, targeted bolt‑on acquisitions, and a resilient underwriting model that capitalises on rising demand for commercial and specialty lines across Australasia. This performance reinforces Steadfast’s position as a leading regional intermediary.

Profitability followed revenue gains, with underlying EBITA climbing 12.6% to $293.6 million and underlying NPAT reaching $137.5 million. The Australasian Network brokers drove the bulk of earnings, delivering $6.4 billion in gross written premiums and a 13% EBITA uplift, while Underwriting Agencies contributed $1.2 billion in premiums and $112.7 million in EBITA. Disciplined expense management and the integration of recent acquisitions helped sustain margin expansion. The board’s decision to raise the interim dividend by 5.1% to 8.2 cents per share underscores confidence in cash flow generation.

The appointment of Hannah Lee as chief financial officer signals continuity in Steadfast’s financial stewardship. Lee, promoted from group financial controller after serving as interim CFO, brings deep familiarity with the company’s cost‑control initiatives and growth strategy. Management reiterated its focus on earnings acceleration, disciplined capital allocation, and selective expansion into high‑margin international markets. For investors, the combination of robust top‑line growth, expanding profitability, and a stable dividend trajectory suggests a resilient business model capable of delivering sustainable shareholder returns amid a competitive brokerage landscape.