Stock Analysis Report

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Executive Summary

Talanx AG provides insurance and reinsurance products and services worldwide.

Snowflake Analysis

Undervalued with solid track record and pays a dividend.

Similar Companies

Share Price & News

How has Talanx's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: TLX has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




DE Insurance


DE Market

1 Year Return




DE Insurance


DE Market

Return vs Industry: TLX underperformed the German Insurance industry which returned -8.7% over the past year.

Return vs Market: TLX underperformed the German Market which returned 3.9% over the past year.

Shareholder returns

7 Day-2.9%-1.0%0.7%
30 Day0.06%1.4%5.3%
90 Day1.0%11.9%17.3%
1 Year-11.1%-15.1%-3.6%-8.7%6.2%3.9%
3 Year10.5%-2.5%25.4%9.1%1.8%-6.2%
5 Year44.5%16.9%58.0%25.3%9.3%-5.4%

Price Volatility Vs. Market

How volatile is Talanx's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Talanx undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TLX (€33.04) is trading below our estimate of fair value (€69)

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

Price To Earnings Ratio

PE vs Industry: TLX is good value based on its PE Ratio (9.2x) compared to the DE Insurance industry average (10.4x).

PE vs Market: TLX is good value based on its PE Ratio (9.2x) compared to the German market (21x).

Price to Earnings Growth Ratio

PEG Ratio: TLX is poor value based on its PEG Ratio (1.1x)

Price to Book Ratio

PB vs Industry: TLX is good value based on its PB Ratio (0.9x) compared to the DE Insurance industry average (1x).

Next Steps

Future Growth

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


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TLX's forecast earnings growth (8.5% per year) is above the savings rate (0.2%).

Earnings vs Market: TLX's earnings (8.5% per year) are forecast to grow slower than the German market (22.3% per year).

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

Revenue vs Market: TLX's revenue (2.8% per year) is forecast to grow slower than the German market (5.9% per year).

High Growth Revenue: TLX's revenue (2.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TLX's Return on Equity is forecast to be low in 3 years time (9.9%).

Next Steps

Past Performance

How has Talanx performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TLX has high quality earnings.

Growing Profit Margin: TLX's current net profit margins (2.3%) are higher than last year (2%).

Past Earnings Growth Analysis

Earnings Trend: TLX's earnings have grown by 1.5% per year over the past 5 years.

Accelerating Growth: TLX's earnings growth over the past year (26.5%) exceeds its 5-year average (1.5% per year).

Earnings vs Industry: TLX earnings growth over the past year (26.5%) exceeded the Insurance industry 10%.

Return on Equity

High ROE: TLX's Return on Equity (10.3%) is considered low.

Next Steps

Financial Health

How is Talanx's financial position?

Financial Position Analysis

Short Term Liabilities: TLX's short term assets (€22.2B) exceed its short term liabilities (€17.3B).

Long Term Liabilities: TLX's short term assets (€22.2B) do not cover its long term liabilities (€143.8B).

Debt to Equity History and Analysis

Debt Level: TLX's debt to equity ratio (33.3%) is considered satisfactory.

Reducing Debt: TLX's debt to equity ratio has increased from 28.5% to 33.3% over the past 5 years.

Debt Coverage: TLX's debt is well covered by operating cash flow (89.9%).

Interest Coverage: TLX's interest payments on its debt are well covered by EBIT (6.9x coverage).

Balance Sheet

Next Steps


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TLX's dividend (4.54%) is higher than the bottom 25% of dividend payers in the German market (1.24%).

High Dividend: TLX's dividend (4.54%) is in the top 25% of dividend payers in the German market (3.82%)

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TLX has been paying a dividend for less than 10 years.

Growing Dividend: TLX's dividend payments have increased, but the company has only paid a dividend for 7 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.7%), TLX's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: TLX's dividends in 3 years are forecast to be well covered by earnings (39.8% payout ratio).

Next Steps


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


Average management tenure


Torsten Leue (54yo)





Mr. Torsten Leue has been Chairman of the Supervisory board at E+S Rückversicherung AG since March 1, 2019. He serves as a Chairman of Supervisory Board at Hannover Rück SE since May 08, 2019 and serves as ...

CEO Compensation Analysis

Compensation vs Market: Torsten's total compensation ($USD3.13M) is about average for companies of similar size in the German market ($USD3.68M).

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

Leadership Team

Torsten Leue
Chairman of the Management Board & CEO2.17yrs€2.77mno data
Immo Querner
CFO & Member of the Management Board14.5yrs€1.68mno data
Jan Wicke
Member of the Management Board6.17yrs€1.77mno data
Sven Fokkema
Member of the Management Board2.17yrs€1.20mno data
Jean-Jacques Henchoz
Member of the Management Board1.25yrs€3.39mno data
Edgar Puls
Member of the Management Board1.17yrs€796.46kno data
Carsten Werle
Head of Investor Relationsno datano datano data


Average Tenure


Average Age

Experienced Management: TLX's management team is considered experienced (2.2 years average tenure).

Board Members

Norbert Steiner
Member of Supervisory Board7.17yrs€129.00kno data
Erhard Schipporeit
Member of Supervisory Board17.08yrs€206.00kno data
Herbert Haas
Chairman of the Supervisory Board2.17yrs€515.00kno data
Dirk Lohmann
Member of Supervisory Board7.17yrs€102.00kno data
Thomas Lindner
Deputy Chairman of the Supervisory Board2.17yrs€205.00kno data
Hermann Jung
Member of Supervisory Board7.17yrs€130.00kno data
Ralf Rieger
Employee Representative Deputy Chairman of Supervisory Board11.08yrs€184.00kno data
Jutta Mück
Employee Representative Member of Supervisory Board11.08yrs€132.00kno data
Jutta Hammer
Employee Representative Member of Supervisory Board9.42yrs€140.00kno data
Antonia Aschendorf
Member of Supervisory Board8.83yrs€132.00kno data


Average Tenure


Average Age

Experienced Board: TLX's board of directors are considered experienced (8 years average tenure).


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

Talanx AG's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Talanx AG
  • Ticker: TLX
  • Exchange: XTRA
  • Founded:
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €8.352b
  • Shares outstanding: 252.80m
  • Website: https://www.talanx.com

Number of Employees


  • Talanx AG
  • HDI-Platz 1
  • Riethorst 2
  • Hanover
  • 30659
  • Germany


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TLXDB (Deutsche Boerse AG)YesRegistered SharesDEEUROct 2012
TLXXTRA (XETRA Trading Platform)YesRegistered SharesDEEUROct 2012
TLXDBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEUROct 2012
0QA8LSE (London Stock Exchange)YesRegistered SharesGBEUROct 2012
TLXSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFOct 2012
TNXWSE (Warsaw Stock Exchange)YesRegistered SharesPLPLNOct 2012
TLXWBAG (Wiener Boerse AG)YesRegistered SharesATEUROct 2012
TNXX.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDOct 2012


Talanx AG provides insurance and reinsurance products and services worldwide. The company offers life, casualty, liability, motor, aviation, legal protection, fire, burglary and theft, water damage, plate glass, windstorm, comprehensive householders, comprehensive home-owners, hail, livestock, engineering, omnium, marine, business interruption, travel assistance, aviation and space liability, financial lines, and other property insurance, as well as coverage for fire and fire loss of profits insurance. It also provides bancassurance products; unit linked life insurance, annuity and risk insurance, and occupational incapacity and disability insurance products; personal accident insurance; and Sharia-compliant retakaful reinsurance products. In addition, the company offers property and casualty reinsurance products to retail, commercial, and industrial customers; marine and aviation business; credit/surety businesses; structured reinsurance; and facultative and nat cat business, as well as cross-border insurance and asset management services. It primarily serves retail clients, industrial enterprises, and small and medium-sized companies through independent brokers, agents, co-operations, online and direct sales, and banks. The company is headquartered in Hannover, Germany. Talanx AG is a subsidiary of HDI Haftpflichtverband der Deutschen Industrie Versicherungsverein auf Gegenseitigkeit. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/12 20:54
End of Day Share Price2020/07/10 00:00
Annual Earnings2019/12/31

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.