Zurich Insurance Group AG

SWX:ZURN Stock Report

Market Cap: CHF 78.9b

Zurich Insurance Group 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

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

Below Fair Value: ZURN (CHF547.8) is trading below our estimate of fair value (CHF1113.18)

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

Key Valuation Metric

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

Key metric: As ZURN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ZURN. This is calculated by dividing ZURN's market cap by their current earnings.
What is ZURN's PE Ratio?
PE Ratio18.1x
EarningsUS$4.89b
Market CapUS$88.26b

Price to Earnings Ratio vs Peers

How does ZURN's PE Ratio compare to its 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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.3x
HELN Helvetia Holding
28.2x14.5%CHF 7.7b
BALN Baloise Holding
28.9x16.3%CHF 7.3b
VAHN Vaudoise Assurances Holding
9.8xn/aCHF 1.4b
SREN Swiss Re
14.3x15.5%CHF 37.6b
ZURN Zurich Insurance Group
18.1x9.9%CHF 78.9b

Price-To-Earnings vs Peers: ZURN is good value based on its Price-To-Earnings Ratio (18.1x) compared to the peer average (20.3x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ZURN 18.1xIndustry Avg. 11.8xNo. of Companies13PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ZURN is expensive based on its Price-To-Earnings Ratio (18.1x) compared to the European Insurance industry average (11.8x).

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 Ratio18.1x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: ZURN is good value based on its Price-To-Earnings Ratio (18.1x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

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 ZURN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 547.80
CHF 533.84
-2.5%
9.3%CHF 602.00CHF 430.00n/a17
Dec ’25CHF 558.60
CHF 516.16
-7.6%
10.6%CHF 602.00CHF 430.00n/a17
Nov ’25CHF 515.60
CHF 490.81
-4.8%
9.2%CHF 580.00CHF 410.00n/a17
Oct ’25CHF 509.00
CHF 486.27
-4.5%
8.8%CHF 580.00CHF 410.00n/a17
Sep ’25CHF 491.40
CHF 476.75
-3.0%
7.3%CHF 530.00CHF 410.00n/a15
Aug ’25CHF 483.20
CHF 477.25
-1.2%
8.0%CHF 535.00CHF 410.00n/a15
Jul ’25CHF 482.80
CHF 472.05
-2.2%
8.2%CHF 535.00CHF 410.00n/a15
Jun ’25CHF 473.70
CHF 466.37
-1.5%
9.4%CHF 530.00CHF 370.00n/a15
May ’25CHF 444.20
CHF 462.38
+4.1%
9.3%CHF 529.00CHF 370.00n/a15
Apr ’25CHF 486.30
CHF 452.88
-6.9%
9.0%CHF 529.00CHF 370.00n/a15
Mar ’25CHF 467.00
CHF 448.33
-4.0%
9.3%CHF 529.00CHF 370.00n/a16
Feb ’25CHF 432.40
CHF 443.01
+2.5%
9.1%CHF 520.00CHF 370.00n/a16
Jan ’25CHF 439.60
CHF 447.81
+1.9%
8.5%CHF 520.00CHF 370.00n/a16
Dec ’24CHF 438.70
CHF 448.45
+2.2%
8.6%CHF 520.00CHF 370.00CHF 558.6016
Nov ’24CHF 436.80
CHF 445.55
+2.0%
9.7%CHF 520.00CHF 345.00CHF 515.6015
Oct ’24CHF 420.10
CHF 448.15
+6.7%
10.2%CHF 520.00CHF 345.00CHF 509.0016
Sep ’24CHF 415.50
CHF 450.12
+8.3%
9.9%CHF 520.00CHF 335.00CHF 491.4016
Aug ’24CHF 420.80
CHF 454.21
+7.9%
9.7%CHF 520.00CHF 335.00CHF 483.2016
Jul ’24CHF 424.90
CHF 464.96
+9.4%
9.3%CHF 520.00CHF 335.00CHF 482.8017
Jun ’24CHF 429.00
CHF 469.61
+9.5%
9.6%CHF 532.70CHF 335.00CHF 473.7017
May ’24CHF 431.80
CHF 469.32
+8.7%
9.3%CHF 521.99CHF 335.00CHF 444.2018
Apr ’24CHF 437.70
CHF 468.58
+7.1%
9.7%CHF 537.12CHF 335.00CHF 486.3017
Mar ’24CHF 446.70
CHF 473.90
+6.1%
9.8%CHF 552.52CHF 335.00CHF 467.0017
Feb ’24CHF 451.00
CHF 481.78
+6.8%
10.7%CHF 565.13CHF 335.00CHF 432.4017
Jan ’24CHF 442.30
CHF 489.15
+10.6%
10.0%CHF 560.00CHF 335.00CHF 439.6017
Dec ’23CHF 453.70
CHF 489.39
+7.9%
10.0%CHF 560.00CHF 345.00CHF 438.7016

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 06:14
End of Day Share Price 2024/12/18 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Zurich Insurance Group AG is covered by 50 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dieter HeinAlphaValue
Daniel BischofBaader Helvea Equity Research
Marco CavalleriBanca Akros S.p.A. (ESN)