Assicurazioni Generali S.p.A.

XTRA:ASG Stock Report

Market Cap: €41.3b

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 (€27.01) is trading below our estimate of fair value (€36.26)

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?

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

The above table shows the Price to Earnings ratio for ASG. This is calculated by dividing ASG's market cap by their current earnings.
What is ASG's PE Ratio?
PE Ratio11.8x
Earnings€3.50b
Market Cap€41.30b

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 Average12.4x
TLX Talanx
10.7x4.9%€20.3b
ALV Allianz
11.8x6.0%€111.3b
NBG6 NÜRNBERGER Beteiligungs-AG
14.1x38.4%€587.5m
HNR1 Hannover Rück
12.9x5.7%€28.9b
ASG Assicurazioni Generali
11.8x8.1%€41.3b

Price-To-Earnings vs Peers: ASG is good value based on its Price-To-Earnings Ratio (11.8x) compared to the peer average (12.4x).

Price to Earnings Ratio vs Industry

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

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

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

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 Ratio11.8x
Fair PE Ratio11.9x

Price-To-Earnings vs Fair Ratio: ASG is good value based on its Price-To-Earnings Ratio (11.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.9x).

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
Current€27.01
€26.38
-2.3%
11.4%€31.10€21.00n/a19
Nov ’25€25.69
€25.82
+0.5%
11.5%€30.50€20.40n/a19
Oct ’25€25.89
€25.29
-2.3%
11.2%€31.50€20.40n/a19
Sep ’25€24.87
€24.21
-2.7%
8.5%€28.70€20.40n/a18
Aug ’25€23.44
€24.33
+3.8%
8.5%€28.70€20.40n/a18
Jul ’25€23.92
€24.22
+1.2%
8.8%€28.70€20.40n/a18
Jun ’25€23.62
€23.65
+0.1%
8.2%€27.00€20.40n/a18
May ’25€23.00
€22.93
-0.3%
7.7%€26.00€20.40n/a18
Apr ’25€23.45
€22.80
-2.8%
8.7%€26.00€18.60n/a18
Mar ’25€21.95
€21.69
-1.2%
7.7%€24.50€18.60n/a19
Feb ’25€20.47
€21.15
+3.3%
8.0%€24.40€18.00n/a19
Jan ’25€19.17
€20.83
+8.7%
8.0%€24.40€17.60n/a19
Dec ’24€18.96
€20.77
+9.6%
7.8%€24.40€17.60n/a19
Nov ’24€18.92
€20.87
+10.3%
8.9%€24.40€17.60€25.6919
Oct ’24€19.37
€20.87
+7.7%
8.9%€24.40€17.60€25.8919
Sep ’24€19.06
€20.16
+5.8%
8.4%€24.40€17.60€24.8719
Aug ’24€19.14
€19.91
+4.0%
7.4%€23.50€17.60€23.4419
Jul ’24€18.73
€19.63
+4.8%
8.2%€23.50€17.00€23.9220
Jun ’24€17.88
€19.47
+8.9%
8.6%€23.50€15.50€23.6221
May ’24€18.88
€19.47
+3.1%
8.6%€23.50€15.50€23.0021
Apr ’24€18.38
€19.49
+6.0%
8.4%€23.50€15.50€23.4521
Mar ’24€18.53
€18.78
+1.4%
8.5%€22.60€15.50€21.9521
Feb ’24€18.19
€18.55
+2.0%
9.6%€22.60€15.50€20.4721
Jan ’24€16.73
€18.43
+10.2%
9.7%€22.60€14.70€19.1721
Dec ’23€17.00
€18.23
+7.3%
9.1%€22.60€14.70€18.9621
Nov ’23€15.41
€17.61
+14.3%
12.2%€22.60€11.89€18.9222

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

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