Hiscox Ltd

DB:H2X3 Stock Report

Market Cap: €6.5b

Hiscox Valuation

Is H2X3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 H2X3 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: H2X3 (€19.78) is trading below our estimate of future cash flow value (€43.57)

Significantly Below Future Cash Flow Value: H2X3 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 H2X3?

Key metric: As H2X3 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for H2X3. This is calculated by dividing H2X3's market cap by their current earnings.
What is H2X3's PE Ratio?
PE Ratio12.4x
EarningsUS$604.10m
Market CapUS$7.48b

Price to Earnings Ratio vs Peers

How does H2X3's PE Ratio compare to its peers?

The above table shows the PE ratio for H2X3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.4x
TLX Talanx
9.7x-0.43%€25.6b
NBG6 NÜRNBERGER Beteiligungs-AG
31.1x20.91%€1.4b
HNR1 Hannover Rück
9.7x-1.71%€27.8b
WUW Wüstenrot & Württembergische
11.2x15.63%€1.4b
H2X3 Hiscox
12.4x5.84%€5.6b

Price-To-Earnings vs Peers: H2X3 is good value based on its Price-To-Earnings Ratio (12.4x) compared to the peer average (15.4x).

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 H2X3's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
H2X3 12.4xIndustry Avg. 12.6xNo. of Companies11PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: H2X3 is good value based on its Price-To-Earnings Ratio (12.4x) compared to the European Insurance industry average (12.5x).

Price to Earnings Ratio vs Fair Ratio

What is H2X3'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.

H2X3 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.4x
Fair PE Ratio12.4x

Price-To-Earnings vs Fair Ratio: H2X3 is expensive based on its Price-To-Earnings Ratio (12.4x) 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 H2X3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€19.78
€19.88
+0.49%
14.38%€22.81€13.32n/a13
Jun ’27€20.02
€19.67
-1.75%
14.38%€22.58€13.18n/a13
May ’27€17.37
€18.78
+8.13%
12.51%€20.93€13.09n/a13
Apr ’27€17.60
€18.67
+6.09%
11.74%€20.53€13.24n/a13
Mar ’27€17.60
€17.99
+2.21%
12.84%€20.12€12.23n/a13
Feb ’27€17.20
€17.01
-1.10%
11.68%€19.43€11.89n/a13
Jan ’27€16.10
€16.67
+3.54%
10.42%€19.16€12.00n/a14
Dec ’26€15.10
€16.75
+10.93%
10.10%€19.39€12.15n/a14
Nov ’26€15.80
€17.27
+9.30%
6.71%€19.52€15.18n/a15
Oct ’26€15.60
€16.80
+7.70%
6.73%€19.43€14.91n/a15
Sep ’26€15.00
€16.77
+11.77%
6.81%€19.49€14.96n/a15
Aug ’26€14.70
€16.60
+12.95%
5.43%€18.68€15.09n/a15
Jul ’26€14.50
€15.83
+9.20%
8.24%€18.35€12.73n/a15
Jun ’26€15.00
€15.16
+1.04%
9.67%€17.21€11.83€20.0216
May ’26€12.70
€14.68
+15.57%
10.25%€16.78€11.77€17.3715
Apr ’26€14.00
€15.10
+7.87%
9.47%€17.56€12.00€17.6014
Mar ’26€13.90
€15.54
+11.83%
10.00%€18.79€12.17€17.6014
Feb ’26€13.20
€15.62
+18.32%
9.86%€18.80€12.12€17.2014
Jan ’26€12.80
€15.57
+21.63%
10.37%€18.58€11.98€16.1014
Dec ’25€12.50
€15.53
+24.25%
10.49%€18.42€11.87€15.1014
Nov ’25€12.80
€15.72
+22.80%
7.14%€17.94€13.58€15.8014
Oct ’25€13.60
€15.48
+13.83%
6.92%€17.40€13.27€15.6016
Sep ’25€13.90
€15.04
+8.23%
9.60%€17.43€11.70€15.0016
Aug ’25€14.80
€15.35
+3.71%
11.65%€18.25€11.36€14.7016
Jul ’25€13.50
€15.31
+13.42%
11.32%€18.34€11.42€14.5016
Jun ’25€13.40
€15.01
+12.00%
11.06%€18.13€11.38€15.0016
€19.55
Fair Value
1.2% overvalued intrinsic discount
13
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 Analysis2026/06/10 10:28
End of Day Share Price 2026/06/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

Hiscox Ltd is covered by 25 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ivan BokhmatBarclays
Michael ChristodoulouBerenberg
Thomas SeidlBernstein