MS&AD Insurance Group Holdings

MSADY

Insurance - Property & Casualty · Financial Services

Price

$30.85

+0.46 (+1.51%)

Market Cap

$44.76B

Exchange

Other OTC

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−10.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.66B (2022) → 1.49B (2026)

MS&AD Insurance Group Holdings is one of the largest insurance companies in Japan. It sells property and casualty insurance — meaning it covers things like car accidents, fires, and natural disasters — to both regular people and businesses. Its main brands include Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, and it also offers life insurance products.

The company earns money by collecting premiums from policyholders and investing those funds until claims need to be paid. MS&AD operates primarily in Japan but has expanded across Asia, Europe, and the Americas, making it one of the top non-life insurers in the world by premium volume. Its scale and long-standing relationships with corporate clients give it a stable customer base, but Japan's aging population and shrinking domestic market limit long-term growth at home. The key growth driver is its continued expansion in Southeast Asia, where rising incomes are increasing demand for insurance products.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+110.5% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

4.9%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$25.9T cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

MS&AD Insurance Group Holdings is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

37.4%

Modest — 37.4% gross margin

Operating Margin

12.5%

Healthy — 12.5% operating margin

ROCE

3.1%

Weak — 3.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+69.9%

Fast-growing sales (+69.9% YoY)

EPS YoY

+21.1%

Earnings growing fast (+21.1% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

Weak — only 0% of profit becomes cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.21

Conservative — low debt load (0.21)

Interest Cover

191.65x

Comfortably covers interest (191.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

0.1x

Attractive valuation — P/E 0.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+0.0

GROWING

Earnings roughly flat

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Dividends

Dividend Yield

3.37%

Moderate income — 3.37% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+19.3%

Dividend growing fast (19.3% YoY)

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