Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München

BRSE:MUV2 Stock Report

Market Cap: CHF 61.5b

Münchener Rückversicherungs-Gesellschaft in München Valuation

Is MUV2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MUV2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MUV2 (CHF454.34) is trading below our estimate of fair value (CHF1342.52)

Significantly Below Fair Value: MUV2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MUV2?

Other financial metrics that can be useful for relative valuation.

MUV2 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA9.1x
PEG Ratio11.3x

Price to Earnings Ratio vs Peers

How does MUV2's PE Ratio compare to its peers?

The above table shows the PE ratio for MUV2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.1x
SREN Swiss Re
11.5x5.4%CHF 34.1b
ZURN Zurich Insurance Group
18x7.9%CHF 73.8b
SLHN Swiss Life Holding
18.4x0.2%CHF 19.9b
HELN Helvetia Holding
28.5x25.0%CHF 7.8b
MUV2 Münchener Rückversicherungs-Gesellschaft in München
11x1.0%CHF 65.4b

Price-To-Earnings vs Peers: MUV2 is good value based on its Price-To-Earnings Ratio (11x) compared to the peer average (19x).

Price to Earnings Ratio vs Industry

How does MUV2's PE Ratio compare vs other companies in the European Insurance Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.7%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.7%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: MUV2 is good value based on its Price-To-Earnings Ratio (11x) compared to the European Insurance industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is MUV2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MUV2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MUV2's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MUV2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 454.34
CHF 460.05
+1.3%
11.9%CHF 526.76CHF 320.99n/a17
Sep ’25CHF 460.91
CHF 455.18
-1.2%
11.7%CHF 517.69CHF 321.20n/a16
Aug ’25CHF 436.15
CHF 460.39
+5.6%
11.6%CHF 508.37CHF 327.32n/a16
Jul ’25CHF 458.19
CHF 455.25
-0.6%
11.4%CHF 505.72CHF 325.62n/a16
Jun ’25CHF 448.80
CHF 468.22
+4.3%
11.3%CHF 524.08CHF 337.44n/a16
May ’25CHF 403.40
CHF 436.43
+8.2%
10.3%CHF 483.20CHF 333.11n/a16
Apr ’25CHF 441.49
CHF 433.62
-1.8%
10.2%CHF 481.57CHF 331.99n/a16
Mar ’25CHF 407.49
CHF 409.27
+0.4%
8.9%CHF 457.02CHF 324.91n/a17
Feb ’25CHF 371.39
CHF 392.33
+5.6%
8.5%CHF 446.58CHF 318.82n/a17
Jan ’25CHF 349.29
CHF 389.93
+11.6%
7.9%CHF 416.62CHF 323.12n/a17
Dec ’24CHF 373.24
CHF 384.68
+3.1%
7.6%CHF 411.27CHF 322.64n/a17
Nov ’24CHF 369.81
CHF 363.10
-1.8%
9.2%CHF 410.98CHF 297.61n/a16
Oct ’24CHF 362.20
CHF 369.01
+1.9%
9.0%CHF 420.89CHF 304.78n/a16
Sep ’24CHF 345.55
CHF 361.45
+4.6%
8.2%CHF 412.60CHF 302.25CHF 460.9116
Aug ’24CHF 333.42
CHF 349.33
+4.8%
7.3%CHF 389.28CHF 300.55CHF 436.1516
Jul ’24n/a
CHF 351.87
0%
7.6%CHF 392.71CHF 283.23CHF 458.1918
Jun ’24CHF 329.45
CHF 347.20
+5.4%
7.6%CHF 392.03CHF 282.74CHF 448.8018
May ’24CHF 330.35
CHF 340.84
+3.2%
8.2%CHF 394.38CHF 279.53CHF 403.4018
Apr ’24CHF 323.60
CHF 341.09
+5.4%
8.3%CHF 394.23CHF 279.42CHF 441.4918
Mar ’24n/a
CHF 346.69
0%
8.1%CHF 402.96CHF 285.61CHF 407.4918
Feb ’24n/a
CHF 338.74
0%
8.9%CHF 388.71CHF 286.19CHF 371.3918
Jan ’24n/a
CHF 309.41
0%
6.6%CHF 345.43CHF 266.48CHF 349.2918
Dec ’23n/a
CHF 304.04
0%
6.9%CHF 337.33CHF 261.38CHF 373.2419
Nov ’23n/a
CHF 279.42
0%
8.1%CHF 319.88CHF 239.17CHF 369.8120
Oct ’23n/a
CHF 273.08
0%
8.0%CHF 314.12CHF 233.90CHF 362.2020
Sep ’23n/a
CHF 272.01
0%
9.1%CHF 317.02CHF 236.06CHF 345.5520

Analyst Forecast: Target price is lower than the current share price.

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