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SWISS RE AG (SR9.DE) Stock Fundamental Analysis

FRA:SR9 - Deutsche Boerse Ag - CH0126881561 - Common Stock - Currency: EUR

153.2  -0.45 (-0.29%)

Fundamental Rating

5

SR9 gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 38 industry peers in the Insurance industry. While SR9 is still in line with the averages on profitability rating, there are concerns on its financial health. SR9 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year SR9 was profitable.
SR9 had a positive operating cash flow in the past year.
SR9 had positive earnings in 4 of the past 5 years.
SR9 had a positive operating cash flow in each of the past 5 years.
SR9.DE Yearly Net Income VS EBIT VS OCF VS FCFSR9.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 2B 4B 6B 8B

1.2 Ratios

SR9 has a Return On Assets of 2.50%. This is amongst the best in the industry. SR9 outperforms 81.58% of its industry peers.
Looking at the Return On Equity, with a value of 13.76%, SR9 is in line with its industry, outperforming 52.63% of the companies in the same industry.
SR9 has a Return On Invested Capital of 2.73%. This is amongst the best in the industry. SR9 outperforms 81.58% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SR9 is in line with the industry average of 2.05%.
The 3 year average ROIC (2.05%) for SR9 is below the current ROIC(2.73%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.5%
ROE 13.76%
ROIC 2.73%
ROA(3y)1.68%
ROA(5y)1.07%
ROE(3y)10.37%
ROE(5y)6.8%
ROIC(3y)2.05%
ROIC(5y)N/A
SR9.DE Yearly ROA, ROE, ROICSR9.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10

1.3 Margins

SR9 has a Profit Margin (7.02%) which is in line with its industry peers.
In the last couple of years the Profit Margin of SR9 has grown nicely.
SR9 has a Operating Margin of 9.56%. This is in the lower half of the industry: SR9 underperforms 60.53% of its industry peers.
In the last couple of years the Operating Margin of SR9 has grown nicely.
Industry RankSector Rank
OM 9.56%
PM (TTM) 7.02%
GM N/A
OM growth 3Y38.28%
OM growth 5Y36.47%
PM growth 3Y31%
PM growth 5Y36.36%
GM growth 3YN/A
GM growth 5YN/A
SR9.DE Yearly Profit, Operating, Gross MarginsSR9.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

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3

2. Health

2.1 Basic Checks

Compared to 1 year ago, SR9 has more shares outstanding
Compared to 5 years ago, SR9 has more shares outstanding
SR9 has a better debt/assets ratio than last year.
SR9.DE Yearly Shares OutstandingSR9.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
SR9.DE Yearly Total Debt VS Total AssetsSR9.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 SR9 is 2.44, which is a good value as it means it would take SR9, 2.44 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of SR9 (2.44) is better than 68.42% of its industry peers.
A Debt/Equity ratio of 0.29 indicates that SR9 is not too dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.29, SR9 belongs to the best of the industry, outperforming 84.21% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 2.44
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
SR9.DE Yearly LT Debt VS Equity VS FCFSR9.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
SR9.DE Yearly Current Assets VS Current LiabilitesSR9.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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5

3. Growth

3.1 Past

The earnings per share for SR9 have decreased strongly by -14.08% in the last year.
SR9 shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 33.96% yearly.
Looking at the last year, SR9 shows a small growth in Revenue. The Revenue has grown by 4.74% in the last year.
SR9 shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.49% yearly.
EPS 1Y (TTM)-14.08%
EPS 3Y31.5%
EPS 5Y33.96%
EPS Q2Q%14.63%
Revenue 1Y (TTM)4.74%
Revenue growth 3Y-0.54%
Revenue growth 5Y-1.49%
Sales Q2Q%N/A

3.2 Future

SR9 is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.32% yearly.
SR9 is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.11% yearly.
EPS Next Y50.3%
EPS Next 2Y28.56%
EPS Next 3Y21.29%
EPS Next 5Y11.32%
Revenue Next Year9.13%
Revenue Next 2Y7.73%
Revenue Next 3Y6.25%
Revenue Next 5Y8.11%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
SR9.DE Yearly Revenue VS EstimatesSR9.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B 80B
SR9.DE Yearly EPS VS EstimatesSR9.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 5 10 15

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 16.11 indicates a correct valuation of SR9.
The rest of the industry has a similar Price/Earnings ratio as SR9.
Compared to an average S&P500 Price/Earnings ratio of 26.30, SR9 is valued a bit cheaper.
A Price/Forward Earnings ratio of 10.27 indicates a reasonable valuation of SR9.
Based on the Price/Forward Earnings ratio, SR9 is valued a bit cheaper than 76.32% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.06, SR9 is valued rather cheaply.
Industry RankSector Rank
PE 16.11
Fwd PE 10.27
SR9.DE Price Earnings VS Forward Price EarningsSR9.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

SR9's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. SR9 is more expensive than 60.53% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.75
EV/EBITDA N/A
SR9.DE Per share dataSR9.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

SR9's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
SR9 has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as SR9's earnings are expected to grow with 21.29% in the coming years.
PEG (NY)0.32
PEG (5Y)0.47
EPS Next 2Y28.56%
EPS Next 3Y21.29%

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6

5. Dividend

5.1 Amount

SR9 has a Yearly Dividend Yield of 4.13%, which is a nice return.
Compared to an average industry Dividend Yield of 4.54, SR9 is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.38, SR9 pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.13%

5.2 History

The dividend of SR9 has a limited annual growth rate of 3.80%.
Dividend Growth(5Y)3.8%
Div Incr Years0
Div Non Decr Years0
SR9.DE Yearly Dividends per shareSR9.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 1 2 3 4 5

5.3 Sustainability

SR9 pays out 62.22% of its income as dividend. This is not a sustainable payout ratio.
The dividend of SR9 is growing, but earnings are growing more, so the dividend growth is sustainable.
DP62.22%
EPS Next 2Y28.56%
EPS Next 3Y21.29%
SR9.DE Yearly Income VS Free CF VS DividendSR9.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 2B 4B 6B 8B
SR9.DE Dividend Payout.SR9.DE Dividend Payout, showing the Payout Ratio.SR9.DE Dividend Payout.PayoutRetained Earnings

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SWISS RE AG

FRA:SR9 (6/5/2025, 7:00:00 PM)

153.2

-0.45 (-0.29%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)05-16 2025-05-16/bmo
Earnings (Next)08-14 2025-08-14
Inst Owners36.47%
Inst Owner ChangeN/A
Ins Owners0.13%
Ins Owner ChangeN/A
Market Cap48.64B
Analysts73.6
Price Target163.02 (6.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.13%
Yearly Dividend5.97
Dividend Growth(5Y)3.8%
DP62.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-41.24%
Min EPS beat(2)-85.46%
Max EPS beat(2)2.99%
EPS beat(4)2
Avg EPS beat(4)-18.88%
Min EPS beat(4)-85.46%
Max EPS beat(4)31.07%
EPS beat(8)3
Avg EPS beat(8)-9.87%
EPS beat(12)5
Avg EPS beat(12)-40.95%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-4.51%
Min Revenue beat(2)-7.92%
Max Revenue beat(2)-1.11%
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)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 16.11
Fwd PE 10.27
P/S 1.23
P/FCF 17.75
P/OCF 17.75
P/B 2.4
P/tB 2.92
EV/EBITDA N/A
EPS(TTM)9.51
EY6.21%
EPS(NY)14.92
Fwd EY9.74%
FCF(TTM)8.63
FCFY5.63%
OCF(TTM)8.63
OCFY5.63%
SpS124.8
BVpS63.71
TBVpS52.54
PEG (NY)0.32
PEG (5Y)0.47
Profitability
Industry RankSector Rank
ROA 2.5%
ROE 13.76%
ROCE 3.45%
ROIC 2.73%
ROICexc 2.82%
ROICexgc 3.23%
OM 9.56%
PM (TTM) 7.02%
GM N/A
FCFM 6.92%
ROA(3y)1.68%
ROA(5y)1.07%
ROE(3y)10.37%
ROE(5y)6.8%
ROIC(3y)2.05%
ROIC(5y)N/A
ROICexc(3y)2.12%
ROICexc(5y)N/A
ROICexgc(3y)2.47%
ROICexgc(5y)N/A
ROCE(3y)2.58%
ROCE(5y)N/A
ROICexcg growth 3Y50.76%
ROICexcg growth 5Y52.33%
ROICexc growth 3Y53.43%
ROICexc growth 5Y51.85%
OM growth 3Y38.28%
OM growth 5Y36.47%
PM growth 3Y31%
PM growth 5Y36.36%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.36
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 2.44
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 8.18
Cash Conversion N/A
Profit Quality 98.46%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)285.69%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.08%
EPS 3Y31.5%
EPS 5Y33.96%
EPS Q2Q%14.63%
EPS Next Y50.3%
EPS Next 2Y28.56%
EPS Next 3Y21.29%
EPS Next 5Y11.32%
Revenue 1Y (TTM)4.74%
Revenue growth 3Y-0.54%
Revenue growth 5Y-1.49%
Sales Q2Q%N/A
Revenue Next Year9.13%
Revenue Next 2Y7.73%
Revenue Next 3Y6.25%
Revenue Next 5Y8.11%
EBIT growth 1Y16.94%
EBIT growth 3Y37.53%
EBIT growth 5Y34.43%
EBIT Next Year46.16%
EBIT Next 3Y15.17%
EBIT Next 5YN/A
FCF growth 1Y-25.72%
FCF growth 3Y-8.64%
FCF growth 5Y13.41%
OCF growth 1Y-25.72%
OCF growth 3Y-8.64%
OCF growth 5Y13.41%