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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.4x - 1.6x | 1.5x |
Historical Pb Multiple | 1.0x - 1.4x | 1.3x |
Fair Value | €30.76 - €34 | €32.38 |
Upside | -8.4% - 1.2% | -3.6% |
Benchmarks | - | Full Ticker |
American Financial Group, Inc. | - | NYSE:AFG |
The Hanover Insurance Group, Inc. | - | NYSE:THG |
American International Group, Inc. | - | NYSE:AIG |
Selective Insurance Group, Inc. | - | NasdaqGS:SIGI |
CNA Financial Corporation | - | NYSE:CNA |
Old Republic International Corporation | - | DB:ORJ |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
AFG | THG | AIG | SIGI | CNA | ORJ | |||
NYSE:AFG | NYSE:THG | NYSE:AIG | NasdaqGS:SIGI | NYSE:CNA | DB:ORJ | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 11.3% | -0.2% | -7.7% | -6.1% | -0.8% | -4.2% | ||
3Y CAGR | -6.4% | 0.4% | -40.3% | -20.6% | -6.8% | -17.8% | ||
Latest Twelve Months | -14.3% | 104.3% | 50.8% | 67.1% | -31.5% | 37.1% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 16.5% | 5.2% | 9.4% | 8.1% | 8.0% | 11.1% | ||
Prior Fiscal Year | 11.4% | 0.6% | 8.9% | 8.4% | 9.1% | 8.2% | ||
Latest Fiscal Year | 11.1% | 6.8% | 8.1% | 4.1% | 6.7% | 10.4% | ||
Latest Twelve Months | 9.5% | 8.7% | 11.9% | 7.3% | 6.0% | 10.3% | ||
Return on Equity | ||||||||
5 Year Average Margin | 17.8% | 10.0% | 7.2% | 11.5% | 9.6% | 15.0% | ||
Prior Fiscal Year | 20.5% | 1.4% | 5.8% | 14.0% | 13.1% | 9.5% | ||
Latest Twelve Months | 17.2% | 19.2% | 7.6% | 12.7% | 8.5% | 14.6% | ||
Next Fiscal Year | 17.2% | 20.0% | 9.1% | 13.9% | 11.3% | 15.4% | ||
Two Fiscal Years Forward | 18.7% | 17.2% | 11.3% | 15.0% | 10.6% | 16.6% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 1.4x | 1.0x | 1.7x | 0.9x | 0.9x | 1.1x | ||
Price / LTM EPS | 14.6x | 11.2x | 14.0x | 12.7x | 15.2x | 10.7x | ||
Price / Book | 2.5x | 1.9x | 1.1x | 1.5x | 1.3x | 1.5x | ||
Price / Fwd Book | 2.3x | 1.9x | 1.2x | 1.5x | 1.1x | 1.8x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 1.1x | 1.5x | 2.5x | |||||
Historical P/B Ratio | 1.0x | 1.3x | 1.4x | |||||
Selected P/B Multiple | 1.4x | 1.5x | 1.6x | |||||
(x) Book Value | 6,186 | 6,186 | 6,186 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | AFG | THG | AIG | SIGI | CNA | ORJ | |
Value of Common Equity | 11,096 | 6,228 | 45,755 | 4,753 | 13,349 | 9,486 | |
(/) Shares Outstanding | 83.4 | 35.8 | 554.0 | 60.9 | 270.7 | 243.4 | |
Implied Stock Price | 133.06 | 174.10 | 82.59 | 78.11 | 49.32 | 38.97 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 | |
Implied Stock Price (Trading Cur) | 133.06 | 174.10 | 82.59 | 78.11 | 49.32 | 33.58 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 |