Chubb Limited

DB:AEX Stock Report

Market Cap: €104.8b

Chubb Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 AEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AEX (€258) is trading below our estimate of fair value (€647.98)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AEX. This is calculated by dividing AEX's market cap by their current earnings.
What is AEX's PE Ratio?
PE Ratio12.6x
EarningsUS$9.68b
Market CapUS$122.84b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.5x
MUV2 Münchener Rückversicherungs-Gesellschaft in München
11.1x-0.071%€69.4b
ALV Allianz
14.1x5.79%€147.5b
HNR1 Hannover Rück
12.5x6.42%€31.1b
TLX Talanx
12.3x7.66%€29.0b
AEX Chubb
12.6x4.07%€122.8b

Price-To-Earnings vs Peers: AEX is expensive based on its Price-To-Earnings Ratio (12.6x) compared to the peer average (12.5x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
AEX 12.6xIndustry Avg. 13.8xNo. of Companies14PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AEX is good value based on its Price-To-Earnings Ratio (12.6x) compared to the European Insurance industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is AEX'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.

AEX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.6x
Fair PE Ratio12.4x

Price-To-Earnings vs Fair Ratio: AEX is expensive based on its Price-To-Earnings Ratio (12.6x) compared to the estimated Fair Price-To-Earnings Ratio (12.4x).

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 AEX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€258.00
€264.58
+2.55%
7.26%€309.58€227.08n/a23
Dec ’26€250.00
€267.27
+6.91%
6.60%€295.26€231.86n/a22
Nov ’26€238.00
€266.76
+12.08%
6.64%€294.95€231.62n/a22
Oct ’26€236.00
€257.29
+9.02%
6.91%€289.75€227.54n/a22
Sep ’26€232.00
€257.91
+11.17%
6.94%€291.41€228.85n/a21
Aug ’26€230.00
€259.44
+12.80%
6.98%€293.62€230.58n/a19
Jul ’26€240.00
€263.38
+9.74%
7.89%€294.51€212.41n/a20
Jun ’26€256.00
€267.82
+4.62%
7.89%€299.47€215.99n/a20
May ’26n/a
€265.63
0%
8.29%€298.79€215.50n/a20
Apr ’26n/a
€280.02
0%
8.28%€310.51€227.29n/a21
Mar ’26n/a
€288.17
0%
8.40%€318.19€236.23n/a21
Feb ’26n/a
€287.12
0%
8.40%€317.13€235.45n/a21
Jan ’26n/a
€288.81
0%
8.07%€334.48€234.81€262.0020
Dec ’25n/a
€285.31
0%
8.22%€333.12€233.85€250.0021
Nov ’25n/a
€273.72
0%
8.34%€320.87€225.25€238.0021
Oct ’25n/a
€255.62
0%
8.50%€315.29€213.20€236.0022
Sep ’25n/a
€250.66
0%
6.36%€275.14€212.90€232.0021
Aug ’25n/a
€256.17
0%
6.66%€282.64€218.70€230.0021
Jul ’25n/a
€252.13
0%
5.48%€284.05€219.79€240.0022
Jun ’25n/a
€249.53
0%
5.03%€272.21€218.51€256.0022
May ’25n/a
€249.40
0%
6.31%€277.78€211.38n/a23
Apr ’25n/a
€243.15
0%
7.23%€265.34€210.41n/a23
Mar ’25n/a
€238.92
0%
7.32%€262.77€208.37n/a23
Feb ’25n/a
€233.44
0%
7.59%€262.20€202.40n/a23
Jan ’25n/a
€219.44
0%
7.43%€247.64€182.80n/a22
€258.85
Fair Value
0.3% undervalued intrinsic discount
23
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/02 09:41
End of Day Share Price 2026/01/02 00:00
Earnings2025/09/30
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

Chubb Limited is covered by 41 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Jay GelbBarclays
Taylor ScottBarclays