ENXTAM:AGN

Stock Analysis Report

Executive Summary

Aegon N.V. provides insurance, pensions, and asset management services worldwide.

Snowflake

Fundamentals

Good value with mediocre balance sheet.

Risks

  • Aegon has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Aegon's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.2%

ENXTAM:AGN

-0.2%

NL Insurance

0.1%

NL Market


1 Year Return

-33.7%

ENXTAM:AGN

0.2%

NL Insurance

-4.7%

NL Market

AGN underperformed the Insurance industry which returned 1.1% over the past year.

AGN underperformed the Market in Netherlands which returned -3.6% over the past year.


Share holder returns

AGNIndustryMarket
7 Day-3.2%-0.2%0.1%
30 Day-25.1%-7.3%-7.7%
90 Day-17.4%-3.3%-3.1%
1 Year-28.3%-33.7%5.5%0.2%-0.5%-4.7%
3 Year20.0%-0.09%47.2%26.8%34.3%19.5%
5 Year-24.0%-42.9%51.6%17.5%48.6%18.4%

Price Volatility Vs. Market

How volatile is Aegon's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Aegon's share price is below the future cash flow value, and at a moderate discount (> 20%).

Aegon's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Aegon is overvalued based on earnings compared to the Europe Insurance industry average.

Aegon is good value based on earnings compared to the Netherlands market.


Price Based on Expected Growth

Aegon is poor value based on expected growth next year.


Price Based on Value of Assets

Aegon is good value based on assets compared to the Europe Insurance industry average.


Next Steps

Future Growth

How is Aegon expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

12.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Aegon's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Aegon's earnings are expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).

Aegon's revenues are expected to decrease over the next 1-3 years, this is below the Netherlands market average.

Aegon's earnings growth is expected to exceed the Netherlands market average.

Aegon's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Aegon is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Aegon performed over the past 5 years?

24.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Aegon has delivered over 20% year on year earnings growth in the past 5 years.

Aegon's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Aegon's 1-year earnings growth is negative, it can't be compared to the Europe Insurance industry average.


Return on Equity

Aegon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Aegon used its assets less efficiently than the Europe Insurance industry average last year based on Return on Assets.


Return on Capital Employed

Aegon has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Aegon's financial position?


Financial Position Analysis

Aegon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Aegon's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Aegon's level of debt (45.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (59.2% vs 45.5% today).

Debt is well covered by operating cash flow (67.5%, greater than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 5.3x debt.


Next Steps

Dividend

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

9.35%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Aegon's pays a higher dividend yield than the bottom 25% of dividend payers in Netherlands (2.41%).

Aegon's dividend is above the markets top 25% of dividend payers in Netherlands (5.94%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (0.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Alex Wynaendts (59yo)

11.3yrs

Tenure

€4,233,000

Compensation

Mr. Alexander Rijn Wynaendts, also known as Alex, has been an Independent Director of Air France-KLM SA since May 19, 2016. Mr. Wynaendts has been the Chief Executive Officer of Aegon N.V. since April 23,  ...


CEO Compensation Analysis

Alex's remuneration is higher than average for companies of similar size in Netherlands.

Alex's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.3yrs

Average Tenure

56yo

Average Age

The tenure for the Aegon management team is about average.


Board Age and Tenure

4.3yrs

Average Tenure

61.5yo

Average Age

The tenure for the Aegon board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Mark Mullin (56yo)

    Member of the Management Board

    • Tenure: 9.6yrs
  • Alex Wynaendts (59yo)

    CEO & Chairman of the Executive Board

    • Tenure: 11.3yrs
    • Compensation: €4.23m
  • Adrian Grace (56yo)

    Member of the Management Board

    • Tenure: 7.5yrs
  • Marco B. Keim (57yo)

    Head of Aegon Continental Europe & Member of the Management Board

    • Tenure: 11.2yrs
  • Matt Rider (56yo)

    CFO & Member of the Executive Board

    • Tenure: 2.3yrs
    • Compensation: €2.09m
  • Carla Mahieu (60yo)

    Global Head of HR & Member of the Management Board

    • Tenure: 3.0yrs
  • J. van Klinken (50yo)

    General Counsel

    • Tenure: 3.0yrs
  • Bas NieuweWeme (47yo)

    Member of Management Board

    • Tenure: 0.2yrs
  • Allegra Cristina Van Hövell-Patrizi (45yo)

    Chief Risk Officer & Member of the Management Board

    • Tenure: 3.6yrs
  • Mark Bloom (55yo)

    Global CTO & Member of the Management Board

    • Tenure: 3.0yrs

Board Members

  • Dona Young (65yo)

    Supervisory Board Member

    • Tenure: 6.3yrs
  • Ben Noteboom (61yo)

    Supervisory Board Member

    • Tenure: 4.3yrs
  • Mark Ellman (62yo)

    Supervisory Board Member

    • Tenure: 2.3yrs
  • Bob Dineen (70yo)

    Supervisory Board Member

    • Tenure: 5.3yrs
  • Ben van der Veer (68yo)

    Supervisory Board Member

    • Tenure: 10.8yrs
  • Bill Connelly (61yo)

    Supervisory Board Chairman

    • Tenure: 1.3yrs
  • Maarten Edixhoven (48yo)

    Chairman & CEO of Aegon Nederland

    • Tenure: 0.0yrs
  • Corien Wortmann-Kool (60yo)

    Supervisory Board Vice Chairman

    • Tenure: 2.6yrs

Company Information

Aegon N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aegon N.V.
  • Ticker: AGN
  • Exchange: ENXTAM
  • Founded: 1983
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: €6.920b
  • Shares outstanding: 2.01b
  • Website: https://www.aegon.com

Number of Employees


Location

  • Aegon N.V.
  • Aegonplein 50
  • The Hague
  • Zuid-Holland
  • 2591 TV
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AEGNYSE (New York Stock Exchange)AMER REGD CERT(1 SH EUR0.12)USUSDJun 1985
AENFDB (Deutsche Boerse AG)AMER REGD CERT(1 SH EUR0.12)DEEURJun 1985
AENFXTRA (XETRA Trading Platform)AMER REGD CERT(1 SH EUR0.12)DEEURJun 1985
AGNSWX (SIX Swiss Exchange)YesCommon SharesCHCHFJul 1988
AGNENXTAM (Euronext Amsterdam)YesCommon SharesNLEURJul 1988
AEGO.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJul 1988
0Q0YLSE (London Stock Exchange)YesCommon SharesGBEURJul 1988
AENDXTRA (XETRA Trading Platform)YesCommon SharesDEEURJul 1988
AGNWBAG (Wiener Boerse AG)YesCommon SharesATEURJul 1988
AENDDB (Deutsche Boerse AG)YesCommon SharesDEEURJul 1988
AGNABATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJul 1988
AGNBIT (Borsa Italiana)YesCommon SharesITEURJul 1988

Biography

Aegon N.V. provides insurance, pensions, and asset management services worldwide. It offers life, accident, and health insurance; property and casualty insurance; home and car insurance; individual investm ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 20:47
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.