Assicurazioni Generali S.p.A.

SWX:ASG Stock Report

Market Cap: CHF34.7b

Assicurazioni Generali Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 ASG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ASG (CHF21) is trading below our estimate of fair value (CHF32.84)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ASG 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/Revenue0.8x
Enterprise Value/EBITDA6.9x
PEG Ratio1.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ASG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.8x
ZURN Zurich Insurance Group
16x8.9%CHF64.0b
BALN Bâloise Holding
26.3x18.4%CHF6.3b
HELN Helvetia Holding
23x12.5%CHF6.4b
VAHN Vaudoise Assurances Holding
9.8xn/aCHF1.3b
ASG Assicurazioni Generali
9.7x5.6%CHF35.5b

Price-To-Earnings vs Peers: ASG is good value based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (18.8x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.5%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.5%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: ASG is good value based on its Price-To-Earnings Ratio (9.7x) compared to the European Insurance industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is ASG'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.

ASG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.7x
Fair PE Ratio19x

Price-To-Earnings vs Fair Ratio: ASG is good value based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (19x).

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 ASG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF21.00
CHF22.50
+7.2%
7.7%CHF25.51CHF20.02n/a18
Apr ’25CHF21.00
CHF22.33
+6.4%
8.7%CHF25.47CHF18.22n/a18
Mar ’25CHF20.51
CHF20.46
-0.2%
7.7%CHF23.11CHF17.55n/a19
Feb ’25CHF20.51
CHF19.71
-3.9%
8.0%CHF22.75CHF16.78n/a19
Jan ’25CHF20.51
CHF19.63
-4.3%
8.0%CHF22.99CHF16.58n/a19
Dec ’24CHF20.51
CHF19.64
-4.3%
7.8%CHF23.07CHF16.64n/a19
Nov ’24CHF20.50
CHF20.19
-1.5%
8.9%CHF23.61CHF17.03n/a19
Oct ’24CHF20.36
CHF20.19
-0.8%
8.9%CHF23.61CHF17.03n/a19
Sep ’24CHF20.36
CHF19.26
-5.4%
8.4%CHF23.30CHF16.81n/a19
Aug ’24CHF20.35
CHF19.13
-6.0%
7.4%CHF22.59CHF16.92n/a19
Jul ’24CHF20.35
CHF19.21
-5.6%
8.2%CHF23.00CHF16.64n/a20
Jun ’24CHF20.33
CHF19.37
-4.7%
8.6%CHF23.39CHF15.42n/a21
May ’24CHF20.33
CHF19.37
-4.7%
8.6%CHF23.39CHF15.42CHF21.0021
Apr ’24CHF20.33
CHF19.27
-5.2%
8.4%CHF23.23CHF15.32CHF21.0021
Mar ’24CHF20.30
CHF18.53
-8.7%
8.5%CHF22.30CHF15.29CHF20.5121
Feb ’24CHF20.30
CHF18.51
-8.8%
9.6%CHF22.56CHF15.47CHF20.5121
Jan ’24CHF20.25
CHF18.21
-10.1%
9.7%CHF22.32CHF14.52CHF20.5121
Dec ’23CHF20.25
CHF17.98
-11.2%
9.1%CHF22.29CHF14.50CHF20.5121
Nov ’23CHF20.25
CHF17.42
-14.0%
12.2%CHF22.36CHF11.76CHF20.5022
Oct ’23CHF20.25
CHF17.45
-13.9%
9.5%CHF21.67CHF14.38CHF20.3622
Sep ’23CHF20.25
CHF18.16
-10.3%
9.5%CHF21.87CHF14.52CHF20.3622
Aug ’23CHF20.25
CHF18.76
-7.4%
8.6%CHF22.12CHF15.66CHF20.3522
Jul ’23CHF20.25
CHF20.31
+0.3%
8.6%CHF23.78CHF17.41CHF20.3521
Jun ’23CHF20.25
CHF20.78
+2.6%
7.9%CHF24.12CHF17.96CHF20.3321
May ’23CHF20.25
CHF20.86
+3.0%
9.8%CHF25.06CHF16.46CHF20.3321

Analyst Forecast: Target price is less than 20% higher than the current share price.

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