Discovery Limited

Discovery Limited

13.80
EUR
+0.40
(+2.99%)
9.62BMarket Cap
Feb 25Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
58.51
68.47
68.01
69.98
81.96
86.06
96.78
114.73
100.1
96.18
133.66
123.2
127.78
- -
Basic EPS, GAAP
5.59
9.15
5.73
6.84
8.76
10.02
0.15
4.81
8.25
9.89
11.3
14.24
19.57
- -
Free Cash Flow per Basic Share
3.56
4.48
-2.72
-3.76
1.56
-1.18
9.21
13.01
2.67
2.9
0.8
10.06
1.48
- -
Dividend per Share
1.51
1.73
1.89
1.92
2.12
2.27
2.28
0.1
0.09
0.1
1.92
2.57
3.29
- -
Book Value per Share
28.2
41.05
46.07
48.86
57.07
64.43
66.66
69.48
60.94
70.56
81.11
97.42
121.75
121.75
Tangible Book Value per Share
20.43
33.48
36.8
39.28
45.08
48.83
49.22
52.35
43.44
51.62
62.17
77.96
103.34
103.34
Basic Weighted Avg Shares
581
599
638
645
645
652
657
657
657
658
661
665
671
35
Sales/Revenue/Turnover
34,003
41,010
43,366
45,111
52,865
56,135
63,551
75,344
65,754
63,294
88,357
81,946
85,756
- -
Operating Margin (%)
14.88
12.75
13.38
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
187
227
866
870
1,064
1,353
1,830
1,916
1,961
2,032
2,176
- -
2,313
- -
Net Income, GAAP
3,314
5,552
3,730
4,494
5,735
6,614
178
3,220
5,478
6,579
7,559
9,564
13,218
- -
Effective Tax Rate (%)
28.59
17.94
31.81
22.14
22.63
16.48
78
23.24
21.1
27.45
26.45
29.96
28.38
- -
Profit Margin (%)
9.75
13.54
8.6
9.96
10.85
11.78
0.28
4.27
8.33
10.39
8.56
11.67
15.41
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
572
954
5,380
8,523
14,073
14,325
19,836
19,493
20,584
20,586
21,656
20,044
13,431
13,431
Total Equity
17,411
27,356
30,607
32,290
37,594
43,083
44,553
46,419
40,819
47,242
54,451
65,699
82,661
82,661
Return on Invested Capital (%)
17.63
15.28
10.4
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
20.41
23.92
12.22
12.67
14.01
14.14
0.87
7.35
11.26
13.16
13.67
14.7
16.48
- -
Return on Common Equity (%)
21.96
25.37
12.96
14.38
16.54
16.51
0.23
7.06
12.66
15.05
14.92
15.97
17.89
- -

Capital Structure

ZAR

•

in mil. unless spec.
Jun'25
Dec'26
Jun'26
ST Debt
2
- -
5,261
LT Borrowings
16,103
15,683
13,431
LT Finance Leases
3,941
3,796
- -
Preferred Equity and Hybrid Capital
779
779
779
Shares Outstanding
666
673
673
Market Capitalization
144,811
153,301
179,988

Working Capital

ZAR

•

in mil. unless spec.
Jun'25
Dec'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
21,433
20,767
22,243
Accounts Receivable, Net
48,047
58,241
63,681
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
2
- -
5,261
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.95%
13.08%
25.82%
Free Cash Flow
-18.73%
186.88%
-85.16%
Net Income, GAAP
184.49%
33.97%
38.21%
Sales/Revenue/Turnover
7.97%
4.1%
4.65%
Total Cash Common Dividend
- -
- -
31.29%

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
88,357
2025
- -
- -
81,946
2026
- -
- -
85,756

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
11.3
2025
- -
- -
14.24
2026
- -
- -
19.57

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1.92
2025
- -
- -
2.57
2026
- -
- -
3.29

Company Description

CEO
Adrian Gore
Full Time Employees
13,800
Sector
Finance
Industry
Life/Health insurance
Address
1 Discovery Place Sandton GT South Africa 2196
IPO Date
Oct 21, 1999
Business
Discovery Limited (DSY.JO) is a South African financial services group offering insurance, healthcare administration, banking, investment and wellness products through its Shared-value Insurance model underpinned by the Vitality programme. Founded in 1992 and headquartered in Sandton, Johannesburg, the company operates primarily in South Africa and the United Kingdom, with Vitality Network partnerships across 41 markets including the United States, China, Singapore, Australia and various African and European countries impacting over 42 million lives. Core offerings include Discovery Health, South Africa's largest medical scheme administrator managing over 39% of open medical scheme membership alongside gap cover, Flexicare and managed care services; Discovery Life providing life and long-term insurance; Discovery Insure delivering car, home, business and commercial short-term insurance for over 285,000 vehicles; Discovery Invest with local and offshore unit trusts, retirement annuities and over R120 billion in assets under administration; Discovery Bank, a digital retail bank with over 1 million accounts offering deposits, loans, credit cards and cryptocurrency trading via Luno partnership; and Vitality wellness programmes spanning health, driving and money management with global licensing. In the United Kingdom, VitalityHealth provides private medical insurance to individuals and corporates; VitalityLife offers life cover, critical illness and income protection; while Vitality Global extends the model through equity stakes such as 25% in Ping An Health (China), 50% in AIA Vitality (Singapore and others) and network licensing to partners like John Hancock (US) and Generali (Europe). Recent developments feature 29% normalised operating profit growth to R15.2 billion for the year ended 30 June 2025, driven by 22% South African profit increase and Discovery Bank client base expansion to exceed 1.4 million with 32% non-interest revenue growth; rollout of AI-powered Vitality platform for hyper-personalised health insights across South Africa, UK and global network to double operating income by 2029; new in-app calling, TRUST AI transaction monitoring and instant Insure activation; 20-year power purchase agreement with Red Rocket for renewable solar energy; and sustained Vitality membership growth to 6.7 million with 24% performance-based revenue rise.

Company News

  • Discovery Limited (DCYHY) Q2 2026 Earnings Call Transcript

  • Discovery Limited (DCYHY) Shareholder/Analyst Call Prepared Remarks Transcript