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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 0.9x - 1.0x | 0.9x |
Historical Pb Multiple | 0.5x - 0.9x | 0.6x |
Fair Value | €44.86 - €49.58 | €47.22 |
Upside | -1.8% - 8.5% | 3.3% |
Benchmarks | - | Full Ticker |
UNIQA Insurance Group AG | - | WBAG:UQA |
AXA SA | - | WBAG:CS |
Mapfre, S.A. | - | WBAG:MAP |
ageas SA/NV | - | WBAG:AGS |
Assicurazioni Generali S.p.A. | - | WBAG:AGEN |
Vienna Insurance Group AG | - | DB:WSV2 |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
UQA | CS | MAP | AGS | AGEN | WSV2 | |||
WBAG:UQA | WBAG:CS | WBAG:MAP | WBAG:AGS | WBAG:AGEN | DB:WSV2 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 15.1% | 14.5% | 9.7% | 2.7% | 11.3% | 14.0% | ||
3Y CAGR | 3.1% | 0.1% | 8.1% | 9.8% | 9.7% | 19.3% | ||
Latest Twelve Months | -6.9% | 7.4% | 22.8% | 17.3% | 2.5% | 15.6% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 3.9% | 6.8% | 4.9% | 12.9% | 4.7% | 4.2% | ||
Prior Fiscal Year | 5.0% | 7.8% | 2.3% | 12.7% | 7.3% | 4.9% | ||
Latest Fiscal Year | 4.9% | 7.8% | 3.3% | 13.1% | 6.8% | 5.1% | ||
Latest Twelve Months | 4.9% | 7.6% | 3.7% | 13.1% | 6.8% | 5.1% | ||
Return on Equity | ||||||||
5 Year Average Margin | 9.7% | 10.7% | 8.7% | 11.0% | 9.7% | 8.2% | ||
Prior Fiscal Year | 14.0% | 13.9% | 8.3% | 12.7% | 13.2% | 10.9% | ||
Latest Twelve Months | 12.3% | 15.4% | 12.2% | 14.7% | 12.7% | 10.4% | ||
Next Fiscal Year | 13.3% | 16.8% | 12.6% | 16.3% | 13.8% | 11.0% | ||
Two Fiscal Years Forward | 12.9% | 17.2% | 13.3% | 15.5% | 14.2% | 10.7% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 0.5x | 0.9x | 0.4x | 1.3x | 0.9x | 0.5x | ||
Price / LTM EPS | 10.8x | 12.0x | 10.0x | 10.0x | 12.8x | 9.1x | ||
Price / Book | 1.3x | 1.9x | 1.2x | 1.4x | 1.6x | 0.9x | ||
Price / Fwd Book | 1.2x | 1.7x | 1.2x | 1.3x | 1.5x | 0.8x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 1.2x | 1.4x | 1.9x | |||||
Historical P/B Ratio | 0.5x | 0.6x | 0.9x | |||||
Selected P/B Multiple | 0.9x | 0.9x | 1.0x | |||||
(x) Book Value | 6,367 | 6,367 | 6,367 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | UQA | CS | MAP | AGS | AGEN | WSV2 | |
Value of Common Equity | 3,794 | 85,827 | 10,749 | 11,224 | 48,501 | 5,850 | |
(/) Shares Outstanding | 307.0 | 2,176.1 | 3,072.9 | 191.7 | 1,510.9 | 128.0 | |
Implied Stock Price | 12.36 | 39.44 | 3.50 | 58.55 | 32.10 | 45.70 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 12.36 | 39.44 | 3.50 | 58.55 | 32.10 | 45.70 | |
Trading Currency | EUR | EUR | EUR | EUR | EUR | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |