Admiral Group plc
Admiral Group plc, a financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain. It operates through four segments: UK Insurance, European Insurance, Admiral Money, and Other. The company offers underwriting services that include mot…
Admiral Group plc, a financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain. It operates through four segments: UK Insurance, European Insurance, Admiral Money, and Other. The company offers underwriting services that include motor, household, pet, travel, and other insurance, as well as car and home insurance; and distributes and underwrites unsecured personal loans, car finance products, and secured homeowner loans. It provides its insurance products and services under the Admiral, Admiral Business, Admiral Money, Admiral Pioneer, Balumba, Bell, Connect by Admiral, ConTe.it Assicurazioni, ConTe.it Prestiti, Diamond, Gladiator, L'olivier " assurance, More Than, Qualitas Auto, and Veygo brand names. The company was formerly known as Admiral Group Limited and changed its name to Admiral Group plc in September 2004. Admiral Group plc was founded in 1993 and is headquartered in Cardiff, the United Kingdom.Looks overvalued
Why: Banks, insurers and other financials are valued on the dividends they pay, not on free cash flow.
Details and the full model are below.
Market price above modeled range
Showing the FCFF (steady state) you selected on the company card, using 12.57% growth, 2.4% terminal growth and 9.6% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 12.57%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 12.6% (sector default 5.4%, own revenue history 37.5%, analyst revenue consensus 3.7%).
5-year outlook: relative outlook of about 9.4% a year (Medium confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 3.7% a year; the growth assumption used is 12.6%.
Adjust assumptions
Show the recommended model instead
Why this model: Banks, insurers and other financials are valued on the dividends they pay, not on free cash flow.
Compare models- Recommended: Dividend discount model — GBP 20.38 (-48.1%)
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EPS-based Gordon proxy
— GBP 34.38 (-12.5%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— GBP 40.86 (+4.0%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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FCFF (steady state)
— GBP 25.02 (-36.3%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/EBITDA (12x)
— GBP 38.55 (-1.9%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— GBP 40.38 (+2.8%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/Sales (Rule of 40)
— GBP 113.31 (+188.3%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear GBP 18.22 | -115.7% |
| Base GBP 25.02 | -57.1% |
| Bull GBP 37.05 | -6.1% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 100 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +37.5% a year | 20 / 20 |
| Balance sheet | net debt 1.4x EBITDA | 20 / 20 |
| Margins | EBITDA margin 20% | 20 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| ADM.L (this company) | GBP 39.30 | -92.8% | 16.3 | 8.4 | 3.6% | 100 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.44 | 68.5% | 3.6 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.88 | 45.6% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.73 | 36.6% | 6.7 | 0.7 | 7.0% | 78 |
| V Visa Inc. | USD 414.00 | 34.6% | 8.7 | – | 0.2% | 100 |
| PRU.L Prudential plc | GBP 9.24 | 34.3% | 8.0 | 1.6 | 1.9% | 78 |
| AGS.BR ageas SA/NV | EUR 76.95 | 33.0% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.86 | 30.3% | 8.2 | 1.3 | 5.0% | 88 |
| ACGL Arch Capital Group | USD 108.49 | 30.3% | 8.5 | 1.6 | 0.1% | 100 |
| Peer median | 8.0 | 1.5 | ||||
Dividends
Paid in the last 12 months: GBP 0.02 per share · yield 0.04% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.016 |
| 2025 | 0.024 |
| 2024 | 0.012 |
| 2023 | 0.010 |
| 2022 | 0.022 |
| 2021 | 0.025 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | GBP 5,571,900,000 |
|---|---|
| EBITDA | GBP 1,119,600,000 |
| EBIT | GBP 1,040,600,000 |
| Net income | GBP 742,600,000 |
| Free cash flow | GBP 652,400,000 |
| Capital expenditures | GBP 74,300,000 |
| Debt | GBP 1,893,500,000 |
| Cash | GBP 301,100,000 |
| Working capital | GBP 1,170,900,000 |
| Shares outstanding | 307,190,136 |
| Reported dividends per share | GBP 1.4330 |