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ALV

Allianz XTRA:ALV Stock Report

Last Price

€161.80

Market Cap

€65.2b

7D

-4.1%

1Y

-17.2%

Updated

30 Sep, 2022

Data

Company Financials +
ALV fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance1/6
Financial Health2/6
Dividends5/6

ALV Stock Overview

Allianz SE, together with its subsidiaries, provides property-casualty insurance, life/health insurance, and asset management products and services worldwide.

Allianz Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Allianz
Historical stock prices
Current Share Price€161.80
52 Week High€232.50
52 Week Low€156.22
Beta1.19
1 Month Change-4.02%
3 Month Change-11.10%
1 Year Change-17.15%
3 Year Change-21.55%
5 Year Change-16.53%
Change since IPO53.74%

Recent News & Updates

Shareholder Returns

ALVDE InsuranceDE Market
7D-4.1%-2.6%-1.1%
1Y-17.2%-8.7%-28.1%

Return vs Industry: ALV underperformed the German Insurance industry which returned -9.6% over the past year.

Return vs Market: ALV exceeded the German Market which returned -29.6% over the past year.

Price Volatility

Is ALV's price volatile compared to industry and market?
ALV volatility
ALV Average Weekly Movement3.2%
Insurance Industry Average Movement3.4%
Market Average Movement5.6%
10% most volatile stocks in DE Market10.0%
10% least volatile stocks in DE Market2.9%

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

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

About the Company

FoundedEmployeesCEOWebsite
1890155,411Oliver Batehttps://www.allianz.com

Allianz SE, together with its subsidiaries, provides property-casualty insurance, life/health insurance, and asset management products and services worldwide. The company’s Property-Casualty segment offers various insurance products, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit, and travel to private and corporate customers. Its Life/Health segment provides a range of life and health insurance products on an individual and a group basis, such as annuities, endowment and term insurance, and unit-linked and investment-oriented products, as well as private and supplemental health, and long-term care insurance products.

Allianz Fundamentals Summary

How do Allianz's earnings and revenue compare to its market cap?
ALV fundamental statistics
Market Cap€65.22b
Earnings (TTM)€4.04b
Revenue (TTM)€107.24b

16.2x

P/E Ratio

0.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ALV income statement (TTM)
Revenue€107.24b
Cost of Revenue€87.01b
Gross Profit€20.23b
Other Expenses€16.20b
Earnings€4.04b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 10, 2022

Earnings per share (EPS)10.01
Gross Margin18.87%
Net Profit Margin3.76%
Debt/Equity Ratio63.8%

How did ALV perform over the long term?

See historical performance and comparison

Dividends

6.7%

Current Dividend Yield

112%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ALV 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 ALV?

Other financial metrics that can be useful for relative valuation.

ALV 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/EBITDA26.1x
PEG Ratio1x

Price to Earnings Ratio vs Peers

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

ALV PE Ratio vs Peers
The above table shows the PE ratio for ALV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.9x
TLX Talanx
9x9.6%€9.2b
NBG6 NÜRNBERGER Beteiligungs-AG
21.9x20.5%€869.8m
MUV2 Münchener Rückversicherungs-Gesellschaft in München
13.2x10.3%€34.4b
HNR1 Hannover Rück
15.4x12.6%€18.6b
ALV Allianz
16.2x16.9%€65.2b

Price-To-Earnings vs Peers: ALV is expensive based on its Price-To-Earnings Ratio (16.2x) compared to the peer average (14.9x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: ALV is expensive based on its Price-To-Earnings Ratio (16.2x) compared to the European Insurance industry average (10x)


Price to Earnings Ratio vs Fair Ratio

What is ALV'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.

ALV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.2x
Fair PE Ratio16.8x

Price-To-Earnings vs Fair Ratio: ALV is good value based on its Price-To-Earnings Ratio (16.2x) compared to the estimated Fair Price-To-Earnings Ratio (16.8x).


Share Price vs Fair Value

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

Below Fair Value: ALV (€161.8) is trading below our estimate of fair value (€578.84)

Significantly Below Fair Value: ALV 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 more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Allianz forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALV's forecast earnings growth (16.9% per year) is above the savings rate (-0.01%).

Earnings vs Market: ALV's earnings (16.9% per year) are forecast to grow faster than the German market (9.8% per year).

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

Revenue vs Market: ALV's revenue (4.2% per year) is forecast to grow faster than the German market (3.8% per year).

High Growth Revenue: ALV's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ALV's Return on Equity is forecast to be low in 3 years time (15.7%).


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Past Performance

How has Allianz performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-2.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ALV has high quality earnings.

Growing Profit Margin: ALV's current net profit margins (3.8%) are lower than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: ALV's earnings have declined by 2.9% per year over the past 5 years.

Accelerating Growth: ALV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ALV had negative earnings growth (-53.5%) over the past year, making it difficult to compare to the Insurance industry average (-15.3%).


Return on Equity

High ROE: ALV's Return on Equity (7.5%) is considered low.


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Financial Health

How is Allianz's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ALV's short term assets (€138.1B) exceed its short term liabilities (€116.7B).

Long Term Liabilities: ALV's short term assets (€138.1B) do not cover its long term liabilities (€873.0B).


Debt to Equity History and Analysis

Debt Level: ALV's net debt to equity ratio (13.2%) is considered satisfactory.

Reducing Debt: ALV's debt to equity ratio has increased from 51.9% to 63.8% over the past 5 years.

Debt Coverage: ALV's debt is not well covered by operating cash flow (18.7%).

Interest Coverage: ALV's interest payments on its debt are not well covered by EBIT (1.4x coverage).


Balance Sheet


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Dividend

What is Allianz current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


6.67%

Current Dividend Yield

Dividend Yield vs Market

Allianz Dividend Yield vs Market
How does Allianz dividend yield compare to the market?
SegmentDividend Yield
Company (Allianz)6.7%
Market Bottom 25% (DE)1.7%
Market Top 25% (DE)5.7%
Industry Average (Insurance)5.3%
Analyst forecast in 3 Years (Allianz)7.6%

Notable Dividend: ALV's dividend (6.67%) is higher than the bottom 25% of dividend payers in the German market (1.69%).

High Dividend: ALV's dividend (6.67%) is in the top 25% of dividend payers in the German market (5.77%)


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (111.5%), ALV's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (76.2%), ALV's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

2.5yrs

Average management tenure


CEO

Oliver Bate (57 yo)

14.67yrs

Tenure

€7,865,000

Compensation

Mr. Oliver Bate has been Chief Executive Officer and Chairman of the Management Board at Allianz Group and Allianz SE since May 7, 2015. Mr. Bäte is a Member of Supervisory Board at Allianz Deutschland AG....


CEO Compensation Analysis

Oliver Bate's Compensation vs Allianz Earnings
How has Oliver Bate's remuneration changed compared to Allianz's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

€4b

Mar 31 2022n/an/a

€5b

Dec 31 2021€8m€2m

€7b

Sep 30 2021n/an/a

€9b

Jun 30 2021n/an/a

€9b

Mar 31 2021n/an/a

€8b

Dec 31 2020€7m€2m

€7b

Sep 30 2020n/an/a

€7b

Jun 30 2020n/an/a

€7b

Mar 31 2020n/an/a

€7b

Dec 31 2019€7m€2m

€8b

Sep 30 2019n/an/a

€8b

Jun 30 2019n/an/a

€8b

Mar 31 2019n/an/a

€7b

Dec 31 2018€7m€1m

€7b

Sep 30 2018n/an/a

€7b

Jun 30 2018n/an/a

€7b

Mar 31 2018n/an/a

€7b

Dec 31 2017n/an/a

€7b

Sep 30 2017n/an/a

€7b

Jun 30 2017n/an/a

€8b

Mar 31 2017n/an/a

€7b

Dec 31 2016€6m€1m

€7b

Sep 30 2016n/an/a

€7b

Jun 30 2016n/an/a

€6b

Mar 31 2016n/an/a

€7b

Dec 31 2015€5m€994k

€7b

Compensation vs Market: Oliver's total compensation ($USD7.71M) is above average for companies of similar size in the German market ($USD5.74M).

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


Leadership Team

Experienced Management: ALV's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: ALV's board of directors are seasoned and experienced ( 10.2 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

What is the ownership structure of ALV?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders44,5040.01%
Institutions146,003,45536.2%
General Public257,027,31763.8%

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


Top Shareholders

Top 25 shareholders own 27.97% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.8%
BlackRock, Inc.
27,415,043€4.4b-4.17%0.11%
3.85%
The Vanguard Group, Inc.
15,524,500€2.5b1.54%0.06%
3.01%
Deutsche Asset & Wealth Management
12,117,221€2.0b-1.34%0.83%
2.08%
Norges Bank Investment Management
8,381,145€1.4b0%0.18%
1.57%
Amundi Asset Management
6,322,350€1.0b6.81%0.31%
1.02%
Harris Associates L.P.
4,120,105€666.6m-0.02%0.87%
0.98%
Deka Investment GmbH
3,943,395€638.0m0.6%0.89%
0.83%
Allianz Asset Management AG
3,347,146€541.6m0%0.47%
0.77%
J.P. Morgan Asset Management, Inc.
3,117,174€504.4m-3.17%0.09%
0.72%
Union Asset Management Holding AG
2,916,239€471.8m0.17%0.55%
0.69%
FMR LLC
2,761,840€446.9m-9.86%0.04%
0.59%
UBS Asset Management
2,394,167€387.4m-2.18%0.07%
0.55%
Fidelity International Ltd
2,233,572€361.4m-0.45%0.19%
0.55%
Geode Capital Management, LLC
2,216,271€358.6m0.44%0.05%
0.49%
Harding Loevner LP
1,983,338€320.9m-3.83%0.94%
0.46%
Goldman Sachs Group, Investment Banking and Securities Investments
1,849,446€299.2m0%0.19%
0.41%
Universal-Investment-Gesellschaft Mit BeschrÄNkter Haftung
1,670,045€270.2m3.31%2.25%
0.4%
State Street Global Advisors, Inc.
1,629,905€263.7m0.25%0.01%
0.39%
Nordea Investment Management AB
1,590,225€257.3m-0.19%0.23%
0.36%
Dimensional Fund Advisors LP
1,437,345€232.6m0.3%0.06%
0.31%
HSBC Global Asset Management (UK) Limited
1,239,428€200.5m-0.43%0.17%
0.29%
Natixis Investment Managers International
1,184,430€191.6m-17.15%0.77%
0.29%
Charles Schwab Investment Management, Inc.
1,182,841€191.4m1.9%0.05%
0.28%
Assenagon Asset Management S.A.
1,139,995€184.5m0%0.62%
0.25%
BNPP Asset Management Holding
1,006,910€162.9m-1.69%0.33%

Company Information

Allianz SE's employee growth, exchange listings and data sources


Key Information

  • Name: Allianz SE
  • Ticker: ALV
  • Exchange: XTRA
  • Founded: 1890
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Implied Market Cap: €65.218b
  • Shares outstanding: 403.08m
  • Website: https://www.allianz.com

Number of Employees


Location

  • Allianz SE
  • KOeniginstrasse 28
  • Munich
  • Bavaria
  • 80802
  • Germany


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALIZ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
0M6SLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ALVDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
ALVSWX (SIX Swiss Exchange)YesOrdinary SharesCHEURJan 1992
ALVBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
ALVXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
ALVDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
ALV NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
ALVWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
ALLIANZBUSE (Budapest Stock Exchange)YesOrdinary SharesHUHUFJan 1992
ALVBUL (Bulgaria Stock Exchange)YesOrdinary SharesBGEURJan 1992
ALVEBST (Boerse-Stuttgart)UNSPON ADS EACH REP 1/10 ORD SHARESDEEURJan 2020
ALIZ.YOTCPK (Pink Sheets LLC)UNSPON ADS EACH REP 1/10 ORD SHARESUSUSDJan 2020
ALVEDB (Deutsche Boerse AG)UNSPON ADS EACH REP 1/10 ORD SHARESDEEURJan 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 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.