MUENCHENER RUECKVER AG-REG (MUV2.DE) Stock Fundamental Analysis
FRA:MUV2 - Deutsche Boerse Ag - DE0008430026 - Common Stock - Currency: EUR
Overall MUV2 gets a fundamental rating of 4 out of 10. We evaluated MUV2 against 36 industry peers in the Insurance industry. MUV2 scores excellent on profitability, but there are concerns on its financial health. MUV2 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
MUV2 had positive earnings in the past year.
MUV2 had a positive operating cash flow in the past year.
In the past 5 years MUV2 has always been profitable.
Each year in the past 5 years MUV2 had a positive operating cash flow.
1.2 Ratios
The Return On Assets of MUV2 (1.98%) is better than 77.78% of its industry peers.
MUV2's Return On Equity of 17.42% is amongst the best of the industry. MUV2 outperforms 80.56% of its industry peers.
MUV2 has a better Return On Invested Capital (2.18%) than 72.22% of its industry peers.
MUV2 had an Average Return On Invested Capital over the past 3 years of 1.93%. This is in line with the industry average of 2.20%.
The last Return On Invested Capital (2.18%) for MUV2 is above the 3 year average (1.93%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.98% | ||
| ROE | 17.42% | ||
| ROIC | 2.18% |
ROA(3y)1.88%
ROA(5y)1.4%
ROE(3y)17.52%
ROE(5y)13.23%
ROIC(3y)1.93%
ROIC(5y)1.43%
1.3 Margins
MUV2 has a Profit Margin of 9.03%. This is comparable to the rest of the industry: MUV2 outperforms 52.78% of its industry peers.
In the last couple of years the Profit Margin of MUV2 has grown nicely.
Looking at the Operating Margin, with a value of 12.57%, MUV2 is in the better half of the industry, outperforming 63.89% of the companies in the same industry.
MUV2's Operating Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.57% | ||
| PM (TTM) | 9.03% | ||
| GM | N/A |
OM growth 3Y37.9%
OM growth 5Y19.51%
PM growth 3Y29.8%
PM growth 5Y16.55%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MUV2 is destroying value.
MUV2 has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, MUV2 has less shares outstanding
MUV2 has a worse debt/assets ratio than last year.
2.2 Solvency
The Debt to FCF ratio of MUV2 is 2.61, which is a good value as it means it would take MUV2, 2.61 years of fcf income to pay off all of its debts.
MUV2 has a Debt to FCF ratio of 2.61. This is comparable to the rest of the industry: MUV2 outperforms 58.33% of its industry peers.
MUV2 has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.21, MUV2 belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.21 | ||
| Debt/FCF | 2.61 | ||
| Altman-Z | N/A |
ROIC/WACC0.32
WACC6.83%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
MUV2 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -13.49%.
MUV2 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.67% yearly.
MUV2 shows a small growth in Revenue. In the last year, the Revenue has grown by 5.38%.
Measured over the past years, MUV2 shows a decrease in Revenue. The Revenue has been decreasing by -0.60% on average per year.
EPS 1Y (TTM)-13.49%
EPS 3Y26.82%
EPS 5Y17.67%
EPS Q2Q%-47.74%
Revenue 1Y (TTM)5.38%
Revenue growth 3Y-3.95%
Revenue growth 5Y-0.6%
Sales Q2Q%4.98%
3.2 Future
MUV2 is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.70% yearly.
The Revenue is expected to grow by 7.07% on average over the next years.
EPS Next Y10.82%
EPS Next 2Y9.3%
EPS Next 3Y8.16%
EPS Next 5Y4.7%
Revenue Next Year4.31%
Revenue Next 2Y4.39%
Revenue Next 3Y4.63%
Revenue Next 5Y7.07%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 16.35, which indicates a correct valuation of MUV2.
MUV2's Price/Earnings ratio is in line with the industry average.
MUV2's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.54.
With a Price/Forward Earnings ratio of 11.24, the valuation of MUV2 can be described as very reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MUV2 is on the same level as its industry peers.
MUV2's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.35 | ||
| Fwd PE | 11.24 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MUV2 indicates a somewhat cheap valuation: MUV2 is cheaper than 75.00% of the companies listed in the same industry.
MUV2's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. MUV2 is more expensive than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.5 | ||
| EV/EBITDA | 9.2 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
MUV2 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.51
PEG (5Y)0.93
EPS Next 2Y9.3%
EPS Next 3Y8.16%
5. Dividend
5.1 Amount
MUV2 has a Yearly Dividend Yield of 3.49%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 4.51, MUV2 is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.35, MUV2 pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.49% |
5.2 History
The dividend of MUV2 is nicely growing with an annual growth rate of 10.15%!
Dividend Growth(5Y)10.15%
Div Incr Years1
Div Non Decr Years6
5.3 Sustainability
MUV2 pays out 35.29% of its income as dividend. This is a sustainable payout ratio.
MUV2's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP35.29%
EPS Next 2Y9.3%
EPS Next 3Y8.16%
FRA:MUV2 (7/21/2025, 9:04:17 AM)
573.4
-0.2 (-0.03%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners42.33%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap74.91B
Analysts69.17
Price Target585.54 (2.12%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.49% |
Yearly Dividend15.08
Dividend Growth(5Y)10.15%
DP35.29%
Div Incr Years1
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-9.85%
Min EPS beat(2)-19.89%
Max EPS beat(2)0.18%
EPS beat(4)3
Avg EPS beat(4)2.66%
Min EPS beat(4)-19.89%
Max EPS beat(4)24.09%
EPS beat(8)4
Avg EPS beat(8)-0.87%
EPS beat(12)7
Avg EPS beat(12)31.96%
EPS beat(16)10
Avg EPS beat(16)33.08%
Revenue beat(2)1
Avg Revenue beat(2)2.2%
Min Revenue beat(2)-12.05%
Max Revenue beat(2)16.46%
Revenue beat(4)1
Avg Revenue beat(4)-5.19%
Min Revenue beat(4)-16.12%
Max Revenue beat(4)16.46%
Revenue beat(8)1
Avg Revenue beat(8)-7.21%
Revenue beat(12)4
Avg Revenue beat(12)-1.87%
Revenue beat(16)8
Avg Revenue beat(16)3.07%
PT rev (1m)-0.78%
PT rev (3m)1.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.91%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.35 | ||
| Fwd PE | 11.24 | ||
| P/S | 1.19 | ||
| P/FCF | 26.5 | ||
| P/OCF | 23.84 | ||
| P/B | 2.3 | ||
| P/tB | 2.65 | ||
| EV/EBITDA | 9.2 |
EPS(TTM)35.07
EY6.12%
EPS(NY)51
Fwd EY8.89%
FCF(TTM)21.64
FCFY3.77%
OCF(TTM)24.06
OCFY4.2%
SpS481.79
BVpS249.84
TBVpS216.66
PEG (NY)1.51
PEG (5Y)0.93
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.98% | ||
| ROE | 17.42% | ||
| ROCE | 2.79% | ||
| ROIC | 2.18% | ||
| ROICexc | 2.22% | ||
| ROICexgc | 2.43% | ||
| OM | 12.57% | ||
| PM (TTM) | 9.03% | ||
| GM | N/A | ||
| FCFM | 4.49% |
ROA(3y)1.88%
ROA(5y)1.4%
ROE(3y)17.52%
ROE(5y)13.23%
ROIC(3y)1.93%
ROIC(5y)1.43%
ROICexc(3y)1.97%
ROICexc(5y)1.47%
ROICexgc(3y)2.15%
ROICexgc(5y)1.61%
ROCE(3y)2.47%
ROCE(5y)1.84%
ROICexcg growth 3Y35.26%
ROICexcg growth 5Y18.43%
ROICexc growth 3Y36.23%
ROICexc growth 5Y18.77%
OM growth 3Y37.9%
OM growth 5Y19.51%
PM growth 3Y29.8%
PM growth 5Y16.55%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.22
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.21 | ||
| Debt/FCF | 2.61 | ||
| Debt/EBITDA | 0.84 | ||
| Cap/Depr | 84.27% | ||
| Cap/Sales | 0.5% | ||
| Interest Coverage | 27.66 | ||
| Cash Conversion | 37.94% | ||
| Profit Quality | 49.73% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score7
WACC6.83%
ROIC/WACC0.32
Cap/Depr(3y)68.52%
Cap/Depr(5y)N/A
Cap/Sales(3y)0.57%
Cap/Sales(5y)N/A
Profit Quality(3y)55.2%
Profit Quality(5y)187.98%
High Growth Momentum
Growth
EPS 1Y (TTM)-13.49%
EPS 3Y26.82%
EPS 5Y17.67%
EPS Q2Q%-47.74%
EPS Next Y10.82%
EPS Next 2Y9.3%
EPS Next 3Y8.16%
EPS Next 5Y4.7%
Revenue 1Y (TTM)5.38%
Revenue growth 3Y-3.95%
Revenue growth 5Y-0.6%
Sales Q2Q%4.98%
Revenue Next Year4.31%
Revenue Next 2Y4.39%
Revenue Next 3Y4.63%
Revenue Next 5Y7.07%
EBIT growth 1Y27.83%
EBIT growth 3Y32.46%
EBIT growth 5Y18.79%
EBIT Next Year11.84%
EBIT Next 3Y7.02%
EBIT Next 5YN/A
FCF growth 1Y28.68%
FCF growth 3Y-18.52%
FCF growth 5Y-21.52%
OCF growth 1Y23.59%
OCF growth 3Y-15.59%
OCF growth 5Y-19.83%