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SWISS LIFE HOLDING AG-REG (SLW.DE) Stock Fundamental Analysis

FRA:SLW - Deutsche Boerse Ag - CH0014852781 - Common Stock - Currency: EUR

850.8  -0.6 (-0.07%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to SLW. SLW was compared to 38 industry peers in the Insurance industry. While SLW is still in line with the averages on profitability rating, there are concerns on its financial health. SLW does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

SLW had positive earnings in the past year.
In the past year SLW had a positive cash flow from operations.
Each year in the past 5 years SLW has been profitable.
Each year in the past 5 years SLW had a positive operating cash flow.
SLW.DE Yearly Net Income VS EBIT VS OCF VS FCFSLW.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

1.2 Ratios

SLW's Return On Assets of 0.55% is on the low side compared to the rest of the industry. SLW is outperformed by 76.32% of its industry peers.
SLW's Return On Equity of 16.14% is fine compared to the rest of the industry. SLW outperforms 71.05% of its industry peers.
The Return On Invested Capital of SLW (0.35%) is worse than 76.32% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SLW is in line with the industry average of 2.30%.
Industry RankSector Rank
ROA 0.55%
ROE 16.14%
ROIC 0.35%
ROA(3y)0.54%
ROA(5y)0.51%
ROE(3y)14.1%
ROE(5y)11.2%
ROIC(3y)0.96%
ROIC(5y)0.87%
SLW.DE Yearly ROA, ROE, ROICSLW.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With a decent Profit Margin value of 11.12%, SLW is doing good in the industry, outperforming 65.79% of the companies in the same industry.
In the last couple of years the Profit Margin of SLW has grown nicely.
SLW has a Operating Margin of 8.79%. This is in the lower half of the industry: SLW underperforms 65.79% of its industry peers.
SLW's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.79%
PM (TTM) 11.12%
GM N/A
OM growth 3Y-3.9%
OM growth 5Y3.12%
PM growth 3Y24.33%
PM growth 5Y17.71%
GM growth 3YN/A
GM growth 5YN/A
SLW.DE Yearly Profit, Operating, Gross MarginsSLW.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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1

2. Health

2.1 Basic Checks

SLW has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for SLW has been reduced compared to 1 year ago.
Compared to 5 years ago, SLW has less shares outstanding
The debt/assets ratio for SLW has been reduced compared to a year ago.
SLW.DE Yearly Shares OutstandingSLW.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M
SLW.DE Yearly Total Debt VS Total AssetsSLW.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

2.2 Solvency

The Debt to FCF ratio of SLW is 168.02, which is on the high side as it means it would take SLW, 168.02 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 168.02, SLW is not doing good in the industry: 78.95% of the companies in the same industry are doing better.
SLW has a Debt/Equity ratio of 1.25. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.25, SLW is doing worse than 84.21% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 168.02
Altman-Z N/A
ROIC/WACC0.08
WACC4.54%
SLW.DE Yearly LT Debt VS Equity VS FCFSLW.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
SLW.DE Yearly Current Assets VS Current LiabilitesSLW.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 14.45% over the past year.
SLW shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.33% yearly.
SLW shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.63%.
Measured over the past years, SLW shows a decrease in Revenue. The Revenue has been decreasing by -0.42% on average per year.
EPS 1Y (TTM)14.45%
EPS 3Y7.13%
EPS 5Y5.33%
EPS Q2Q%26.7%
Revenue 1Y (TTM)-16.63%
Revenue growth 3Y-0.42%
Revenue growth 5YN/A
Sales Q2Q%-10.95%

3.2 Future

The Earnings Per Share is expected to grow by 4.90% on average over the next years.
The Revenue is expected to grow by 1.24% on average over the next years.
EPS Next Y18.02%
EPS Next 2Y4.74%
EPS Next 3Y8.99%
EPS Next 5Y4.9%
Revenue Next Year16.05%
Revenue Next 2Y6.31%
Revenue Next 3Y0.86%
Revenue Next 5Y1.24%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
SLW.DE Yearly Revenue VS EstimatesSLW.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5B 10B 15B 20B
SLW.DE Yearly EPS VS EstimatesSLW.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20 40 60

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1

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 25.39 indicates a quite expensive valuation of SLW.
Compared to the rest of the industry, the Price/Earnings ratio of SLW indicates a slightly more expensive valuation: SLW is more expensive than 78.95% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of SLW to the average of the S&P500 Index (26.34), we can say SLW is valued inline with the index average.
With a Price/Forward Earnings ratio of 23.14, SLW is valued on the expensive side.
89.47% of the companies in the same industry are cheaper than SLW, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.19. SLW is around the same levels.
Industry RankSector Rank
PE 25.39
Fwd PE 23.14
SLW.DE Price Earnings VS Forward Price EarningsSLW.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

78.95% of the companies in the same industry are cheaper than SLW, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 410.43
EV/EBITDA N/A
SLW.DE Per share dataSLW.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 100 200 300 400

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.41
PEG (5Y)4.76
EPS Next 2Y4.74%
EPS Next 3Y8.99%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.08%, SLW is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.47, SLW is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.40, SLW pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.08%

5.2 History

The dividend of SLW is nicely growing with an annual growth rate of 18.46%!
Dividend Growth(5Y)18.46%
Div Incr Years0
Div Non Decr Years0
SLW.DE Yearly Dividends per shareSLW.DE Yearly Dividends per shareYearly Dividends per share 2025 10 20 30

5.3 Sustainability

SLW pays out 77.84% of its income as dividend. This is not a sustainable payout ratio.
SLW's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP77.84%
EPS Next 2Y4.74%
EPS Next 3Y8.99%
SLW.DE Yearly Income VS Free CF VS DividendSLW.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B
SLW.DE Dividend Payout.SLW.DE Dividend Payout, showing the Payout Ratio.SLW.DE Dividend Payout.PayoutRetained Earnings

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SWISS LIFE HOLDING AG-REG

FRA:SLW (6/18/2025, 7:00:00 PM)

850.8

-0.6 (-0.07%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-20 2025-05-20
Earnings (Next)09-03 2025-09-03
Inst Owners27.77%
Inst Owner ChangeN/A
Ins Owners0.4%
Ins Owner ChangeN/A
Market Cap24.44B
Analysts71.11
Price Target840.83 (-1.17%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.08%
Yearly Dividend35.21
Dividend Growth(5Y)18.46%
DP77.84%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 25.39
Fwd PE 23.14
P/S 2.11
P/FCF 410.43
P/OCF 123.57
P/B 3.06
P/tB 3.97
EV/EBITDA N/A
EPS(TTM)33.51
EY3.94%
EPS(NY)36.76
Fwd EY4.32%
FCF(TTM)2.07
FCFY0.24%
OCF(TTM)6.89
OCFY0.81%
SpS404.04
BVpS278.4
TBVpS214.33
PEG (NY)1.41
PEG (5Y)4.76
Profitability
Industry RankSector Rank
ROA 0.55%
ROE 16.14%
ROCE 0.45%
ROIC 0.35%
ROICexc 0.36%
ROICexgc 0.37%
OM 8.79%
PM (TTM) 11.12%
GM N/A
FCFM 0.51%
ROA(3y)0.54%
ROA(5y)0.51%
ROE(3y)14.1%
ROE(5y)11.2%
ROIC(3y)0.96%
ROIC(5y)0.87%
ROICexc(3y)0.99%
ROICexc(5y)0.9%
ROICexgc(3y)1.03%
ROICexgc(5y)1%
ROCE(3y)1.21%
ROCE(5y)1.1%
ROICexcg growth 3Y-26.88%
ROICexcg growth 5Y-15.03%
ROICexc growth 3Y-21.04%
ROICexc growth 5Y-11.47%
OM growth 3Y-3.9%
OM growth 5Y3.12%
PM growth 3Y24.33%
PM growth 5Y17.71%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 168.02
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 1.19%
Interest Coverage -2.33
Cash Conversion N/A
Profit Quality 4.61%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC4.54%
ROIC/WACC0.08
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)0.91%
Cap/Sales(5y)0.67%
Profit Quality(3y)50.98%
Profit Quality(5y)41.96%
High Growth Momentum
Growth
EPS 1Y (TTM)14.45%
EPS 3Y7.13%
EPS 5Y5.33%
EPS Q2Q%26.7%
EPS Next Y18.02%
EPS Next 2Y4.74%
EPS Next 3Y8.99%
EPS Next 5Y4.9%
Revenue 1Y (TTM)-16.63%
Revenue growth 3Y-0.42%
Revenue growth 5YN/A
Sales Q2Q%-10.95%
Revenue Next Year16.05%
Revenue Next 2Y6.31%
Revenue Next 3Y0.86%
Revenue Next 5Y1.24%
EBIT growth 1Y-74.91%
EBIT growth 3Y-23.39%
EBIT growth 5Y-12.18%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-92.75%
FCF growth 3Y-35.32%
FCF growth 5Y-51.61%
OCF growth 1Y-78.89%
OCF growth 3Y-14.35%
OCF growth 5Y-38.77%