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ZURN

Zurich Insurance Group SWX:ZURN Stock Report

Last Price

CHF427.20

Market Cap

CHF63.3b

7D

-3.1%

1Y

5.3%

Updated

19 Aug, 2022

Data

Company Financials +
ZURN fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance3/6
Financial Health4/6
Dividends6/6

ZURN Stock Overview

Zurich Insurance Group AG, together with its subsidiaries, provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Zurich Insurance Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Zurich Insurance Group
Historical stock prices
Current Share PriceCHF427.20
52 Week HighCHF461.70
52 Week LowCHF374.60
Beta0.64
1 Month Change3.92%
3 Month Change-1.16%
1 Year Change5.33%
3 Year Change22.97%
5 Year Change46.25%
Change since IPO-49.68%

Recent News & Updates

Shareholder Returns

ZURNCH InsuranceCH Market
7D-3.1%-2.4%-0.5%
1Y5.3%1.9%-12.3%

Return vs Industry: ZURN exceeded the Swiss Insurance industry which returned 1.9% over the past year.

Return vs Market: ZURN exceeded the Swiss Market which returned -12.3% over the past year.

Price Volatility

Is ZURN's price volatile compared to industry and market?
ZURN volatility
ZURN Average Weekly Movement3.0%
Insurance Industry Average Movement3.2%
Market Average Movement4.6%
10% most volatile stocks in CH Market7.9%
10% least volatile stocks in CH Market2.4%

Stable Share Price: ZURN is less volatile than 75% of Swiss stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ZURN's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
187256,000Mario Grecohttps://www.zurich.com

Zurich Insurance Group AG, together with its subsidiaries, provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. The company operates through Property & Casualty Regions, Life Regions, Farmers, Group Functions and Operations, and Non-Core Businesses segments. It offers car, home, travel, general liability, life and critical illness, worker injury, and other insurance products; and saving and investment, and pension and retirement planning products.

Zurich Insurance Group Fundamentals Summary

How do Zurich Insurance Group's earnings and revenue compare to its market cap?
ZURN fundamental statistics
Market CapCHF63.35b
Earnings (TTM)CHF5.00b
Revenue (TTM)CHF45.79b

12.7x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ZURN income statement (TTM)
RevenueUS$47.75b
Cost of RevenueUS$31.24b
Gross ProfitUS$16.51b
Other ExpensesUS$11.30b
EarningsUS$5.21b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 10, 2022

Earnings per share (EPS)35.15
Gross Margin34.58%
Net Profit Margin10.92%
Debt/Equity Ratio57.2%

How did ZURN perform over the long term?

See historical performance and comparison

Dividends

5.2%

Current Dividend Yield

69%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ZURN 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/Revenue1.6x
Enterprise Value/EBITDA10x
PEG Ratio1.6x

Price to Earnings Ratio vs Peers

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

ZURN PE Ratio vs Peers
The above table shows the PE ratio for ZURN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.6x
BALN Bâloise Holding
11.7x4.4%CHF6.9b
HELN Helvetia Holding
11.9x6.6%CHF5.8b
VAHN Vaudoise Assurances Holding
9.2xn/aCHF1.2b
SREN Swiss Re
41.1x30.4%CHF21.6b
ZURN Zurich Insurance Group
12.7x7.9%CHF63.5b

Price-To-Earnings vs Peers: ZURN is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (18.5x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: ZURN is expensive based on its Price-To-Earnings Ratio (12.7x) compared to the Swiss Insurance industry average (12.3x)


Price to Earnings Ratio vs Fair Ratio

What is ZURN'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.

ZURN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.7x
Fair PE Ratio19x

Price-To-Earnings vs Fair Ratio: ZURN is good value based on its Price-To-Earnings Ratio (12.7x) compared to the estimated Fair Price-To-Earnings Ratio (19x).


Share Price vs Fair Value

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

Below Fair Value: ZURN (CHF428.4) is trading below our estimate of fair value (CHF1150.19)

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


Analyst Price Targets

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

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


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Future Growth

How is Zurich Insurance Group forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZURN's forecast earnings growth (7.9% per year) is above the savings rate (-0.2%).

Earnings vs Market: ZURN's earnings (7.9% per year) are forecast to grow slower than the Swiss market (8.8% per year).

High Growth Earnings: ZURN's earnings are forecast to grow, but not significantly.

Revenue vs Market: ZURN's revenue (3.2% per year) is forecast to grow slower than the Swiss market (4.4% per year).

High Growth Revenue: ZURN's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ZURN's Return on Equity is forecast to be low in 3 years time (17.8%).


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Past Performance

How has Zurich Insurance Group performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


11.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ZURN has high quality earnings.

Growing Profit Margin: ZURN's current net profit margins (10.9%) are higher than last year (6.8%).


Past Earnings Growth Analysis

Earnings Trend: ZURN's earnings have grown by 11.2% per year over the past 5 years.

Accelerating Growth: ZURN's earnings growth over the past year (7.6%) is below its 5-year average (11.2% per year).

Earnings vs Industry: ZURN earnings growth over the past year (7.6%) underperformed the Insurance industry 14.2%.


Return on Equity

High ROE: ZURN's Return on Equity (18.9%) is considered low.


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Financial Health

How is Zurich Insurance Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ZURN's short term assets ($96.8B) exceed its short term liabilities ($61.6B).

Long Term Liabilities: ZURN's short term assets ($96.8B) do not cover its long term liabilities ($295.8B).


Debt to Equity History and Analysis

Debt Level: ZURN's net debt to equity ratio (2%) is considered satisfactory.

Reducing Debt: ZURN's debt to equity ratio has increased from 39.2% to 57.2% over the past 5 years.

Debt Coverage: ZURN's debt is well covered by operating cash flow (28.7%).

Interest Coverage: ZURN's interest payments on its debt are well covered by EBIT (16.8x coverage).


Balance Sheet


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Dividend

What is Zurich Insurance Group current dividend yield, its reliability and sustainability?

Dividend Score

6/6

Dividend Score 6/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.18%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ZURN's dividend (5.14%) is higher than the bottom 25% of dividend payers in the Swiss market (1.83%).

High Dividend: ZURN's dividend (5.14%) is in the top 25% of dividend payers in the Swiss market (3.97%)


Stability and Growth of Payments

Stable Dividend: ZURN's dividends per share have been stable in the past 10 years.

Growing Dividend: ZURN's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (68.8%), ZURN's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (81.2%), ZURN's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Mario Greco (63 yo)

6.42yrs

Tenure

US$10,092,035

Compensation

Mr. Mario Greco has been the Group Chief Executive Officer and Member of the Executive Committee at Zurich Insurance Group AG since March 07, 2016. Mr. Greco served as the Group Chief Executive Officer of...


CEO Compensation Analysis

Compensation vs Market: Mario's total compensation ($USD10.09M) is above average for companies of similar size in the Swiss market ($USD6.96M).

Compensation vs Earnings: Mario's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ZURN's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: ZURN's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Zurich Insurance Group AG's employee growth, exchange listings and data sources


Key Information

  • Name: Zurich Insurance Group AG
  • Ticker: ZURN
  • Exchange: SWX
  • Founded: 1872
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Implied Market Cap: CHF63.350b
  • Shares outstanding: 148.29m
  • Website: https://www.zurich.com

Number of Employees


Location

  • Zurich Insurance Group AG
  • Mythenquai 2
  • Zurich
  • Zurich
  • 8002
  • Switzerland

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/19 00:00
End of Day Share Price2022/08/19 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.