Old Mutual Limited

DB:2KS Stock Report

Market Cap: €3.5b

Old Mutual Valuation

Is 2KS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 2KS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 2KS (€0.8) is trading below our estimate of future cash flow value (€1.41)

Significantly Below Future Cash Flow Value: 2KS is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2KS?

Key metric: As 2KS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2KS. This is calculated by dividing 2KS's market cap by their current earnings.
What is 2KS's PE Ratio?
PE Ratio10.3x
EarningsR6.53b
Market CapR67.23b

Price to Earnings Ratio vs Peers

How does 2KS's PE Ratio compare to its peers?

The above table shows the PE ratio for 2KS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.2x
WUW Wüstenrot & Württembergische
10.6x15.16%€1.5b
TLX Talanx
12.2x7.45%€28.6b
HNR1 Hannover Rück
12.1x6.74%€30.0b
TLI Thai Life Insurance
13.9x12.21%฿136.3b
2KS Old Mutual
10.3x3.79%€67.2b

Price-To-Earnings vs Peers: 2KS is good value based on its Price-To-Earnings Ratio (10.3x) compared to the peer average (12.2x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 2KS's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2KS 10.3xIndustry Avg. 13.2xNo. of Companies16PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2KS is good value based on its Price-To-Earnings Ratio (10.3x) compared to the European Insurance industry average (14x).

Price to Earnings Ratio vs Fair Ratio

What is 2KS'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.

2KS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.3x
Fair PE Ratio11.3x

Price-To-Earnings vs Fair Ratio: 2KS is good value based on its Price-To-Earnings Ratio (10.3x) compared to the estimated Fair Price-To-Earnings Ratio (11.3x).

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 2KS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.80
€0.79
-0.62%
17.88%€1.01€0.52n/a8
Jan ’27€0.74
€0.72
-2.36%
17.66%€0.92€0.50n/a8
Dec ’26€0.67
€0.72
+7.01%
17.45%€0.92€0.50n/a8
Nov ’26€0.66
€0.70
+6.56%
17.01%€0.89€0.50n/a8
Oct ’26€0.62
€0.69
+11.18%
18.20%€0.88€0.49n/a7
Sep ’26€0.64
€0.64
+0.31%
20.66%€0.85€0.48n/a7
Aug ’26€0.60
€0.64
+5.66%
20.60%€0.85€0.48n/a7
Jul ’26€0.54
€0.65
+19.99%
18.54%€0.86€0.49n/a7
Jun ’26€0.59
€0.65
+9.12%
18.54%€0.87€0.49n/a7
May ’26€0.49
€0.62
+26.80%
18.54%€0.83€0.47n/a7
Apr ’26€0.56
€0.69
+22.20%
16.39%€0.89€0.55n/a7
Mar ’26€0.65
€0.72
+10.32%
15.53%€0.90€0.56n/a7
Feb ’26€0.61
€0.71
+16.16%
17.08%€0.91€0.52€0.817
Jan ’26€0.62
€0.72
+15.45%
16.15%€0.88€0.52€0.747
Dec ’25€0.64
€0.72
+12.73%
16.15%€0.88€0.52€0.677
Nov ’25€0.61
€0.71
+15.77%
16.15%€0.88€0.52€0.667
Oct ’25€0.67
€0.74
+9.72%
14.45%€0.88€0.52€0.627
Sep ’25€0.63
€0.70
+12.72%
14.65%€0.85€0.50€0.647
Aug ’25€0.58
€0.74
+26.15%
8.07%€0.83€0.64€0.606
Jul ’25€0.60
€0.70
+17.41%
10.88%€0.81€0.59€0.546
Jun ’25€0.53
€0.70
+34.19%
10.88%€0.81€0.59€0.596
May ’25€0.50
€0.71
+43.60%
8.90%€0.82€0.62€0.496
Apr ’25€0.56
€0.72
+29.24%
5.72%€0.79€0.66€0.565
Mar ’25€0.55
€0.73
+32.14%
5.96%€0.79€0.66€0.655
Feb ’25€0.59
€0.73
+23.78%
5.02%€0.79€0.69€0.615
€0.76
Fair Value
5.1% overvalued intrinsic discount
8
Number of Analysts

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 Analysis2026/02/06 19:51
End of Day Share Price 2026/02/06 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Old Mutual Limited is covered by 20 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Francois Du ToitAnchor Stockbrokers Proprietary Limited
Adrienne DamantAvior Capital Markets
Edward HoughtonBernstein