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Talanx

XTRA:TLX
Snowflake Description

Good value with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TLX
XTRA
€10B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Talanx AG provides insurance and reinsurance products and services worldwide. The last earnings update was 41 days ago. More info.


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TLX Share Price and Events
7 Day Returns
3.3%
XTRA:TLX
1.9%
DE Insurance
0.7%
DE Market
1 Year Returns
17%
XTRA:TLX
20.5%
DE Insurance
-8.7%
DE Market
TLX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Talanx (TLX) 3.3% 3.7% 9.6% 17% 31.8% 47.8%
DE Insurance 1.9% 2.8% 5.9% 20.5% 47.7% 63.3%
DE Market 0.7% -1.2% 0.2% -8.7% 10% 8.1%
1 Year Return vs Industry and Market
  • TLX underperformed the Insurance industry which returned 20.5% over the past year.
  • TLX outperformed the Market in Germany which returned -8.7% over the past year.
Price Volatility
TLX
Industry
5yr Volatility vs Market

Value

 Is Talanx undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Talanx to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Talanx.

XTRA:TLX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= €38.73 * 10.7%
€4.15
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. €38.73
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XTRA:TLX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.689 (1 + (1- 30%) (52.39%))
0.961
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.961 * 5.96%)
5.95%

Discounted Cash Flow Calculation for XTRA:TLX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Talanx is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

XTRA:TLX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.7% – 5.95%) * €38.73)
€1.84
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €1.84 / (5.95% - 0.23%)
€32.18
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €38.73 + €32.18
€70.91
XTRA:TLX Discount to Share Price
Calculation Result
Value per share (EUR) From above. €70.91
Current discount Discount to share price of €37.68
= -1 x (€37.68 - €70.91) / €70.91
46.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Talanx is available for.
Intrinsic value
47%
Share price is €37.68 vs Future cash flow value of €70.91
Current Discount Checks
For Talanx to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Talanx's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Talanx's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Talanx's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Talanx's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:TLX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €2.85
XTRA:TLX Share Price ** XTRA (2019-06-19) in EUR €37.68
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.07x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.53x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Talanx.

XTRA:TLX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:TLX Share Price ÷ EPS (both in EUR)

= 37.68 ÷ 2.85

13.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Talanx is overvalued based on earnings compared to the DE Insurance industry average.
  • Talanx is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Talanx's expected growth come at a high price?
Raw Data
XTRA:TLX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
9.3%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.27x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

XTRA:TLX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.22x ÷ 9.3%

1.42x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Talanx is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Talanx's assets?
Raw Data
XTRA:TLX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €37.84
XTRA:TLX Share Price * XTRA (2019-06-19) in EUR €37.68
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.05x
Germany Market PB Ratio Median Figure of 575 Publicly-Listed Companies 1.78x
XTRA:TLX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:TLX Share Price ÷ Book Value per Share (both in EUR)

= 37.68 ÷ 37.84

1x

* Primary Listing of Talanx.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Talanx is good value based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Talanx's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Talanx has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Talanx expected to grow at an attractive rate?
  • Talanx's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Talanx's earnings growth is positive but not above the Germany market average.
  • Talanx's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:TLX Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:TLX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 9.3%
XTRA:TLX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.6%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XTRA:TLX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:TLX Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 34,547 1
2022-12-31 33,541 1,255 1
2021-12-31 33,509 1,107 4
2020-12-31 31,982 1,033 6
2019-12-31 31,358 953 4
XTRA:TLX Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 34,936 4,115 720
2018-12-31 34,155 3,823 703
2018-09-30 33,924 4,964 715
2018-06-30 33,686 4,850 645
2018-03-31 33,149 5,380 651
2017-12-31 32,737 5,006 671
2017-09-30 31,891 5,120 711
2017-06-30 31,177 4,975 963
2017-03-31 30,483 4,994 919
2016-12-31 30,403 4,260 903
2016-09-30 30,337 5,330 882
2016-06-30 30,435 4,984 826

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Talanx's earnings are expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
  • Talanx's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XTRA:TLX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Talanx Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:TLX Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 4.70 4.70 4.70 1.00
2022-12-31 4.78 4.96 4.60 2.00
2021-12-31 4.33 4.69 4.03 7.00
2020-12-31 4.09 4.44 3.79 11.00
2019-12-31 3.76 4.05 3.57 11.00
XTRA:TLX Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 2.85
2018-12-31 2.78
2018-09-30 2.83
2018-06-30 2.60
2018-03-31 2.57
2017-12-31 2.65
2017-09-30 2.81
2017-06-30 3.75
2017-03-31 3.64
2016-12-31 3.57
2016-09-30 3.48
2016-06-30 3.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Talanx is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Talanx's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Talanx has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Talanx performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Talanx's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Talanx's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Talanx's 1-year earnings growth exceeds its 5-year average (10.6% vs -0.8%)
  • Talanx's earnings growth has exceeded the DE Insurance industry average in the past year (10.6% vs 9.4%).
Earnings and Revenue History
Talanx's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Talanx Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:TLX Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 34,936.00 720.00 1,290.00
2018-12-31 34,155.00 703.00 1,290.00
2018-09-30 33,924.00 715.00 651.00
2018-06-30 33,686.00 645.00 651.00
2018-03-31 33,149.00 651.00 656.00
2017-12-31 32,737.00 671.00 1,293.00
2017-09-30 31,891.00 711.00 1,248.00
2017-06-30 31,177.00 963.00 1,248.00
2017-03-31 30,483.00 919.00 1,275.00
2016-12-31 30,403.00 903.00 1,248.00
2016-09-30 30,337.00 882.00 1,206.00
2016-06-30 30,435.00 826.00 1,206.00
2016-03-31 30,362.00 705.00 1,213.00
2015-12-31 30,449.00 734.00 1,206.00
2015-09-30 30,254.00 727.00 304.00
2015-06-30 29,727.00 699.00 304.00
2015-03-31 29,310.00 804.00 1,178.00
2014-12-31 28,533.00 769.00 1,118.00
2014-09-30 27,663.00 734.00 1,098.00
2014-06-30 27,305.00 703.00 1,098.00
2014-03-31 27,581.00 742.00 1,083.00
2013-12-31 27,446.00 732.00 1,089.00
2013-09-30 27,920.00 604.00 1,103.00
2013-06-30 28,001.00 683.00 1,103.00
2013-03-31 27,211.00 626.00 1,096.00
2012-12-31 26,402.00 626.00 1,030.00
2012-09-30 25,067.00 738.00 945.00
2012-06-30 23,960.00 655.00 945.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Talanx has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Talanx used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Talanx's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Talanx's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Talanx has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Talanx's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Talanx's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Talanx is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Talanx's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Talanx's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Talanx Company Filings, last reported 2 months ago.

XTRA:TLX Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 15,622.00 4,990.00 3,846.00
2018-12-31 14,261.00 4,983.00 5,245.00
2018-09-30 13,840.00 4,985.00 3,341.00
2018-06-30 13,853.00 4,986.00 3,354.00
2018-03-31 13,971.00 4,210.00 3,910.00
2017-12-31 14,224.00 4,168.00 5,476.00
2017-09-30 13,919.00 3,424.00 3,246.00
2017-06-30 14,358.00 3,428.00 3,411.00
2017-03-31 15,132.00 3,442.00 3,452.00
2016-12-31 14,648.00 3,488.00 4,399.00
2016-09-30 14,532.00 3,481.00 3,338.00
2016-06-30 13,971.00 3,483.00 3,522.00
2016-03-31 13,826.00 3,431.00 3,686.00
2015-12-31 13,431.00 3,384.00 4,783.00
2015-09-30 13,048.00 3,380.00 2,899.00
2015-06-30 12,941.00 3,381.00 2,866.00
2015-03-31 14,137.00 4,034.00 2,972.00
2014-12-31 12,900.00 4,010.00 4,436.00
2014-09-30 12,562.00 4,028.00 2,390.00
2014-06-30 11,925.00 3,480.00 2,051.00
2014-03-31 11,741.00 3,284.00 1,844.00
2013-12-31 11,124.00 4,049.00 3,952.00
2013-09-30 10,902.00 4,086.00 2,127.00
2013-06-30 10,648.00 4,142.00 1,949.00
2013-03-31 11,596.00 4,144.00 1,889.00
2012-12-31 11,309.00 3,784.00 4,485.00
2012-09-30 10,627.00 3,861.00 1,673.00
2012-06-30 9,719.00 4,023.00 2,313.00
  • Talanx's level of debt (31.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28% vs 31.9% today).
  • Debt is well covered by operating cash flow (82.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
X
Financial health checks
We assess Talanx's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Talanx has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.85%
Current annual income from Talanx dividends. Estimated to be 4.5% next year.
If you bought €2,000 of Talanx shares you are expected to receive €77 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Talanx's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Talanx's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XTRA:TLX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XTRA:TLX Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 2.00 1.00
2022-12-31 2.00 2.00
2021-12-31 1.87 9.00
2020-12-31 1.65 13.00
2019-12-31 1.55 13.00
XTRA:TLX Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 1.450 4.072
2018-03-19 1.400 4.285
2017-03-20 1.350 3.947
2016-03-23 1.300 4.453
2015-03-23 1.250 4.527
2014-03-14 1.200 4.563
2013-04-09 1.050 4.299

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Talanx has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Talanx only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Talanx's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Talanx's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Talanx afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Talanx has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Talanx's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Torsten Leue
COMPENSATION €3,815,680
AGE 52
TENURE AS CEO 1.1 years
CEO Bio

Mr. Torsten Leue serves as a Chairman of Supervisory Board at Hannover Rück SE since May 08, 2019 and HDI Global SE since March 9, 2018. He was its Vice Chairman of Supervisory Board of Hannover Rück SE till May 08, 2019. Mr. Leue has been the Chairman of the Management Board and Chief Executive Officer at Talanx AG since May 8, 2018. He has served as Member of Advisory Board of E+S Rückversicherung AG since January 21, 2018. His experience includes Chairman of the Supervisory Board of HDI Kundenservice AG, Talanx Deutschland AG, Talanx Service AG; Member of the Advisory Board of E+S Rückversicherung AG and Deputy Chairman of the Administrative Board of HDI Assicurazioni SpA, Italy. Academic background, Training: • Certified bank clerk, Deutsche Bank AG, Berlin Degree in business administration, Berlin. Professional career: • 1993–1994:- Allianz Sach-Versicherungs AG, Berlin Assistant to the Regional Manager. • 1995–1996:- Allianz Versicherungs AG, Berlin Regional Head of Distribution. • 1997–2003:- Allianz Versicherungs AG, Munich Regional Manager – Central and Eastern Europe. • 2004–2010:- Chairman of the Board of Management of Allianz Slovakia. • Since 2010:- Member of the Board of Management of Talanx AG, Hannover and Chairman of the Board of Management of Talanx International AG, Hannover. • Since 2017:- Additionally Chairman of the Board of Management of HDI Haftpflichtverband der Deutschen Industrie V.a.G., Hannover and Labour Director of Talanx AG.

CEO Compensation
  • Torsten's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Torsten's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Talanx management team in years:

1.1
Average Tenure
52
Average Age
  • The average tenure for the Talanx management team is less than 2 years, this suggests a new team.
Management Team

Torsten Leue

TITLE
Chairman of Management Board & CEO
COMPENSATION
€4M
AGE
52
TENURE
1.1 yrs

Immo Querner

TITLE
CFO & Member of Management Board
COMPENSATION
€2M
AGE
55
TENURE
13.4 yrs

Sven Fokkema

TITLE
Member of Management Board
COMPENSATION
€928K
AGE
48
TENURE
1.1 yrs

Jean-Jacques Henchoz

TITLE
Member of the Management Board
AGE
54
TENURE
0.2 yrs

Edgar Puls

TITLE
Member of the Management Board
AGE
45
TENURE
0.1 yrs

Carsten Werle

TITLE
Head of Investor Relations
Board of Directors Tenure

Average tenure and age of the Talanx board of directors in years:

6.9
Average Tenure
61.5
Average Age
  • The tenure for the Talanx board of directors is about average.
Board of Directors

Herbert Haas

TITLE
Chairman of the Supervisory Board
COMPENSATION
€4M
AGE
64
TENURE
1.1 yrs

Thomas Lindner

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
€174K
AGE
67
TENURE
1.1 yrs

Ralf Rieger

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€179K
AGE
56
TENURE
10 yrs

Erhard Schipporeit

TITLE
Supervisory Board Member
COMPENSATION
€206K
AGE
69
TENURE
16 yrs

Jutta Mück

TITLE
Supervisory Board Member
COMPENSATION
€112K
AGE
56
TENURE
10 yrs

Jutta Hammer

TITLE
Supervisory Board Member
COMPENSATION
€126K
AGE
50
TENURE
8.3 yrs

Antonia Aschendorf

TITLE
Supervisory Board Member
COMPENSATION
€130K
AGE
55
TENURE
7.8 yrs

Hermann Jung

TITLE
Supervisory Board Member
COMPENSATION
€118K
AGE
63
TENURE
6.1 yrs

Dirk Lohmann

TITLE
Supervisory Board Member
COMPENSATION
€99K
AGE
60
TENURE
6.1 yrs

Norbert Steiner

TITLE
Supervisory Board Member
COMPENSATION
€128K
AGE
64
TENURE
6.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Talanx's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Talanx has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Do Analysts See Talanx AG (ETR:TLX) Performing Over The Next Year?

After Talanx AG's (ETR:TLX) earnings announcement on 31 March 2019, it seems that analyst forecasts are fairly optimistic, with profits predicted to increase by 35% next year compared with the past 5-year average growth rate of -0.8%. … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of TLX's earnings growth over these next few years. … XTRA:TLX Past and Future Earnings, June 5th 2019 By 2022, TLX's earnings should reach €1.1b, from current levels of €703m, resulting in an annual growth rate of 9.3%.

Simply Wall St -

Does Talanx AG's (ETR:TLX) 11% Earnings Growth Make It An Outperformer?

Today I will assess TLX's recent performance announced on 31 March 2019 and evaluate these figures to its long-term trend and industry movements. … See our latest analysis for Talanx Commentary On TLX's Past Performance TLX's trailing twelve-month earnings (from 31 March 2019) of €720m has jumped 11% compared to the previous year. … I recommend you continue to research Talanx to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for TLX’s future growth?

Simply Wall St -

Did You Miss Talanx's (ETR:TLX) 36% Share Price Gain?

To wit, the Talanx share price has climbed 36% in five years, easily topping the market return of 12% (ignoring dividends). … During five years of share price growth, Talanx actually saw its EPS drop 0.8% per year. … By glancing at these numbers, we'd posit that the decline in earnings per share is not representative of how the business has changed over the years.

Simply Wall St -

Do You Know What Talanx Aktiengesellschaft's (ETR:TLX) P/E Ratio Means?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Looking at earnings over the last twelve months, Talanx has a P/E ratio of 12.75. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What Should You Know About Talanx Aktiengesellschaft's (ETR:TLX) Future?

Talanx Aktiengesellschaft's (ETR:TLX) released its most recent earnings update in December 2018, whicha … signalled

Simply Wall St -

Should You Investigate Talanx Aktiengesellschaft (ETR:TLX) At €34.42?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Let’s examine Talanx’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Does Talanx's (ETR:TLX) Share Price Gain of 40% Match Its Business Performance?

To wit, the Talanx share price has climbed 40% in five years, easily topping the market return of 13% (ignoring dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … Over half a decade, Talanx managed to grow its earnings per share at 3.5% a year.

Simply Wall St -

What Should Investors Know About The Future Of Talanx Aktiengesellschaft's (ETR:TLX)?

Since Talanx Aktiengesellschaft (ETR:TLX) released its earnings in September 2018,. … the consensus outlook from analysts appear fairly confident, … with earnings expected to grow by 24% in the upcoming year

Simply Wall St -

Talanx Aktiengesellschaft (ETR:TLX): Can Growth Justify Its February Share Price?

Talanx Aktiengesellschaft (ETR:TLX) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of €33.26 is based on unrealistic expectations. … Let’s look into this by assessing TLX's expected growth over the next few years. … According to the analysts covering the company, the following few years should bring about good growth prospects for Talanx

Simply Wall St -

Why We Think Talanx Aktiengesellschaft (ETR:TLX) Could Be Worth Looking At

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … In the case of Talanx Aktiengesellschaft (ETR:TLX), there's

Simply Wall St -

Company Info

Description

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, 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.

Details
Name: Talanx AG
TLX
Exchange: XTRA
Founded:
€9,525,414,849
252,797,634
Website: http://www.talanx.com
Address: Talanx AG
HDI-Platz 1,
Riethorst 2,
Hannover,
30659,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA TLX Registered Shares XETRA Trading Platform DE EUR 02. Oct 2012
OTCPK TNXX.F Registered Shares Pink Sheets LLC US USD 02. Oct 2012
DB TLX Registered Shares Deutsche Boerse AG DE EUR 02. Oct 2012
LSE 0QA8 Registered Shares London Stock Exchange GB EUR 02. Oct 2012
SWX TLX Registered Shares SIX Swiss Exchange CH CHF 02. Oct 2012
WBAG TLX Registered Shares Wiener Boerse AG AT EUR 02. Oct 2012
WSE TNX Registered Shares Warsaw Stock Exchange PL PLN 02. Oct 2012
BATS-CHIXE TLXD Registered Shares BATS 'Chi-X Europe' GB EUR 02. Oct 2012
Number of employees
Current staff
Staff numbers
20,813
Talanx employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 22:11
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.