Hamilton Insurance Group, Ltd.

DB:QN0 Stock Report

Market Cap: €1.8b

Hamilton Insurance Group Valuation

Is QN0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 QN0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QN0 (€17.9) is trading below our estimate of fair value (€119.51)

Significantly Below Fair Value: QN0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QN0?

Key metric: As QN0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for QN0. This is calculated by dividing QN0's market cap by their current earnings.
What is QN0's PE Ratio?
PE Ratio3.9x
EarningsUS$493.37m
Market CapUS$1.95b

Price to Earnings Ratio vs Peers

How does QN0's PE Ratio compare to its peers?

The above table shows the PE ratio for QN0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.4x
WUW Wüstenrot & Württembergische
26.5x34.6%€1.1b
NBG6 NÜRNBERGER Beteiligungs-AG
13.8x38.4%€593.3m
SKWD Skyward Specialty Insurance Group
16.1x8.2%US$2.1b
LRE Lancashire Holdings
5.2x-7.5%UK£1.5b
QN0 Hamilton Insurance Group
3.9x-1.3%€2.0b

Price-To-Earnings vs Peers: QN0 is good value based on its Price-To-Earnings Ratio (3.9x) compared to the peer average (15.6x).

Price to Earnings Ratio vs Industry

How does QN0's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
QN0 3.9xIndustry Avg. 11.8xNo. of Companies14PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QN0 is good value based on its Price-To-Earnings Ratio (3.9x) compared to the European Insurance industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is QN0'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.

QN0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.9x
Fair PE Ratio6.9x

Price-To-Earnings vs Fair Ratio: QN0 is good value based on its Price-To-Earnings Ratio (3.9x) compared to the estimated Fair Price-To-Earnings Ratio (6.9x).

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 QN0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€17.90
€21.94
+22.6%
9.1%€24.80€19.08n/a6
Nov ’25€15.40
€21.12
+37.1%
9.3%€24.04€18.50n/a6
Oct ’25€17.10
€20.18
+18.0%
10.3%€23.40€17.10n/a7
Sep ’25€17.70
€19.82
+12.0%
8.9%€22.70€17.25n/a6
Aug ’25€15.80
€18.76
+18.7%
7.9%€21.22€16.61n/a6
Jul ’25€15.00
€19.15
+27.6%
6.8%€21.48€17.75n/a6
Jun ’25€15.80
€18.89
+19.6%
6.8%€21.20€17.51n/a6
May ’25€12.30
€18.51
+50.5%
9.1%€20.70€15.06n/a6
Apr ’25€12.20
€18.16
+48.8%
9.4%€20.14€14.65n/a6
Mar ’25€12.40
€17.77
+43.3%
7.7%€19.30€15.62n/a6
Feb ’25€13.60
€17.77
+30.6%
7.7%€19.30€15.62n/a6
Jan ’25€12.90
€18.06
+40.0%
8.8%€20.37€15.74n/a6

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

AXA

€68.0b

Through its subsidiaries, provides insurance, asset management, and banking services worldwide.

AXA

€32.18

7D

-5.3%

1Y

13.0%

Arch Capital Group

US$37.6b

Provides insurance, reinsurance, and mortgage insurance products worldwide.

RSK

US$95.06

7D

5.6%

1Y

24.3%

NN Group

€12.0b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

2NN

€43.87

7D

-2.4%

1Y

31.0%