NobleOak Life Ltd (NOL) AI Stock Analysis

• Market Cap: AU$130.59M
• Dividend Yield: N/A
• Average Volume (3M): 19.05K
• Price to Earnings (P/E): 25.2
• Beta (1Y): 0.23
• Revenue Growth: 21.79%
• EPS Growth: -23.00%
• Country: AU
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Life
• EPS (TTM): 0.10
• Shares Outstanding: 92,943,520
• 10 Day Avg. Volume: 14,036
• 30 Day Avg. Volume: 19,047
• PEG Ratio: -0.71
• Price to Book (P/B): 1.57
• Price to Sales (P/S): 1.13
• P/FCF Ratio: 2.38
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$2.85
• Price Target Upside: 103.57% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: AU$1.50 ▲(7.14% Upside)
• Action: Reiterated Date: 01/04/26
• Date: Action: Reiterated 01/04/26

The score is driven primarily by solid financial fundamentals—strong recent cash generation and very low leverage—tempered by highly volatile revenue and uneven profitability. Technical signals are slightly negative with the stock trading below key moving averages, while valuation appears moderate based on the P/E.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business sustainability.

Cash Flow Strength

Strong cash flow enhances financial flexibility, enabling the company to invest in growth opportunities and weather economic fluctuations.

Employee Incentive Scheme

Aligning employee interests with corporate goals can boost engagement and retention, fostering a motivated workforce for sustained growth.

Negative Factors

Operational Inefficiencies

A drop in EBIT margin suggests challenges in cost management, which could impact profitability if not addressed effectively.

Shareholder Structure Changes

Changes in substantial holdings may affect shareholder dynamics and influence strategic decisions, potentially leading to instability.

Moderate Leveraging

Moderate leveraging can limit financial flexibility and increase risk exposure, potentially affecting long-term financial health.

NobleOak Life Ltd Business Overview & Revenue Model

Company Description

NobleOak Life Limited manufactures and distributes life insurance products in Australia. The company offers term death, total and permanent disability, trauma, and income protection and business expenses insurance products. It sells its products through direct-to-market and alliance partners, as well as strategic partner channels. The company was founded in 1861 and is headquartered in Sydney, Australia.

How the Company Makes Money

NobleOak Life Ltd generates revenue primarily through the sale of its insurance products. The company's revenue streams include premium collections from policyholders for various insurance policies such as life, income protection, TPD, and trauma insurance. Additionally, NobleOak may earn investment income from the management of the funds collected through premiums. The company's earnings are influenced by factors such as underwriting performance, claims experience, and investment returns. Partnerships with financial advisors, brokers, and other distribution channels also play a crucial role in expanding their market reach and driving sales.

NobleOak Life Ltd Financial Statement Overview

Summary

Overall financial health is sound, led by strong recent operating/free cash flow and a conservative, low-leverage balance sheet. The main offset is pronounced revenue volatility and uneven profitability, which reduces predictability despite remaining profitable.

Income Statement

Profitability is positive but uneven. Net income stayed profitable across all reported years, and margins rebounded in 2025 (net margin ~5.7% vs ~2.4% in 2024). However, revenue is highly volatile: 2025 revenue fell sharply (-52.8% YoY) after moderate growth in 2024, and earlier years also show large swings. Operating profitability is mid-tier (2025 EBIT margin ~12.4%), but the choppy revenue and margin path reduces overall quality and predictability.

Balance Sheet

The balance sheet looks conservative with very low leverage throughout the period (debt-to-equity ~0.05 in 2025, and similarly low in prior years). Equity is sizable (A$88.9M in 2025), supporting financial flexibility. Returns on equity are positive but not consistently strong (about 8.0% in 2025, down from ~13.0% in 2024), suggesting profitability is decent but not stable year-to-year.

Cash Flow

Cash generation is a key strength recently. Operating cash flow and free cash flow were strongly positive in 2025 (A$58.7M and A$58.6M) with strong free cash flow growth (+51.9%), and free cash flow closely tracked earnings (about ~1.0x net income). The main weakness is variability: 2021 had negative operating and free cash flow, highlighting that cash conversion can swing meaningfully across years.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	315.95M	123.99M	386.65M	343.40M	75.43M	61.32M
Gross Profit	315.95M	123.99M	50.26M	181.86M	169.78M	61.32M
EBITDA	12.72M	15.42M	20.33M	18.67M	4.22M	8.52M
Net Income	5.18M	7.12M	9.28M	7.99M	1.69M	4.90M
Balance Sheet
Total Assets	600.63M	567.29M	463.73M	251.15M	121.08M	72.62M
Cash, Cash Equivalents and Short-Term Investments	66.22M	0.00	63.96M	30.26M	30.26M	31.41M
Total Debt	8.43M	4.58M	5.26M	5.83M	556.00K	1.46M
Total Liabilities	505.13M	478.36M	392.33M	131.31M	9.45M	-12.00M
Stockholders Equity	95.50M	88.94M	71.41M	119.84M	111.63M	84.62M
Cash Flow
Free Cash Flow	49.80M	58.63M	44.02M	129.66M	23.49M	-2.17M
Operating Cash Flow	49.97M	58.74M	44.42M	130.14M	27.98M	-720.00K
Investing Cash Flow	-60.57M	-45.59M	-29.86M	-108.81M	-53.33M	-10.37M
Financing Cash Flow	419.00K	8.44M	-1.01M	-1.18M	23.77M	14.42M

NobleOak Life Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NOL, the sentiment is Negative. The current price of 1.4 is below the 20-day moving average (MA) of 1.41, below the 50-day MA of 1.43, and below the 200-day MA of 1.44, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 48.90 is Neutral, neither overbought nor oversold. The STOCH value of 20.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NOL.

NobleOak Life Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PPM	69 Neutral	AU$1.02B	9.75	12.11%	11.71%	-6.49%	-5.40%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
NOL	62 Neutral	AU$130.59M	25.18	8.88%	―	21.79%	-23.00%
CVW	56 Neutral	AU$371.71M	420.00	4.50%	―	0.63%	―
ZIP	55 Neutral	AU$2.15B	19.99	14.42%	―	23.69%	116.67%
COG	54 Neutral	AU$313.55M	14.93	12.36%	2.86%	-26.30%	40.12%
MYS	53 Neutral	AU$768.68M	16.10	5.92%	4.63%	26.01%	-17.55%

NobleOak Life Ltd Corporate Events

NobleOak Life Limited Announces Director’s Interest Change

NobleOak Life Limited has announced a change in the director’s interest, specifically regarding Anthony Ross Brown’s holdings. The change involves the acquisition of 343,156 performance rights, which were approved by shareholders, reflecting a strategic move to align executive interests with company performance. This adjustment in director’s interests may impact the company’s governance and stakeholder confidence, as it underscores a commitment to performance-based incentives.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Ltd Issues Unquoted Performance Rights

NobleOak Life Ltd announced the issuance of 1,049,684 unquoted performance rights under an employee incentive scheme. These securities are subject to transfer restrictions and will not be quoted on the ASX until the restrictions are lifted, potentially impacting employee retention and motivation strategies.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Ltd Secures Strong Shareholder Support at AGM

NobleOak Life Ltd recently held its Annual General Meeting, where several key resolutions were passed. These included the adoption of the Remuneration Report, the re-election of directors Inese Kingsmill and Stephen Harrison, and the approval of a Long Term Incentive Plan for the CEO for FY26. The outcomes of these resolutions indicate strong shareholder support for the company’s leadership and strategic plans, which could positively impact its market positioning and stakeholder confidence.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Ltd Announces 2025 Annual General Meeting

NobleOak Life Ltd has announced its 2025 Annual General Meeting, highlighting its position as Australia’s fastest-growing direct life insurer. The announcement underscores the company’s robust growth trajectory and its strategic focus on enhancing its market presence, which is likely to have positive implications for its stakeholders.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Reports Strong FY25 Performance and Strategic Transition

NobleOak Life Limited reported a strong financial performance for FY25, with a 20% increase in in-force premiums to $464 million and a 22% rise in underlying NPAT to $18.3 million. The company continues to strengthen its position as a leading direct life insurer in Australia, driven by a diversified strategy, direct distribution model, and investment in technology and product innovation. A significant strategic development was the transition from a Friendly Society to a Life Company structure, aiming for cost-effective capital management and improved governance. This transition, requiring a $3-4 million investment, positions NobleOak for future growth in life insurance and wealth markets. Despite not declaring a dividend for FY25, the Board anticipates potential dividend payments by 2027, contingent on ongoing strong performance.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Limited Appoints New Company Secretary

NobleOak Life Limited has announced the appointment of Amanda Underwood as its new Company Secretary, effective November 20, 2025. This strategic appointment is expected to strengthen the company’s governance and operational framework, potentially enhancing its industry positioning and stakeholder confidence.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Director Increases Shareholding

NobleOak Life Limited has announced a change in the director’s interest, specifically concerning Andrew Crawfurd Gale. The change involves the acquisition of 25,345 ordinary shares, increasing his total holdings to 80,000 shares. This transaction, conducted through an on-market trade, reflects a strategic move in managing personal investments and may indicate confidence in the company’s future performance.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Director Increases Shareholding

NobleOak Life Limited has announced a change in the director’s interest, with Andrew Crawfurd Gale acquiring an additional 4,172 ordinary shares through an on-market trade. This transaction increases his total holdings to 54,655 shares, reflecting a continued commitment to the company and potentially signaling confidence in its future performance.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.

NobleOak Life Limited Announces Hybrid Annual General Meeting for 2025

NobleOak Life Limited has announced its Annual General Meeting (AGM) scheduled for 21 November 2025, which will be conducted in a hybrid format allowing both in-person and online participation. This meeting provides shareholders an opportunity to engage with the company’s board and management, discuss strategic priorities, and vote on business items. Shareholders are encouraged to participate actively, either by attending the meeting or by submitting proxy votes in advance. The AGM will also allow for questions to be directed to the company’s auditor, Deloitte Touche Tohmatsu, regarding the financial report and audit conduct.

The most recent analyst rating on (AU:NOL) stock is a Buy with a A$2.85 price target. To see the full list of analyst forecasts on NobleOak Life Ltd stock, see the AU:NOL Stock Forecast page.