Financials Zurich Insurance Group Ltd

Equities

ZURN

CH0011075394

Multiline Insurance & Brokers

Delayed Swiss Exchange 11:30:02 2024-05-17 am EDT 5-day change 1st Jan Change
471.8 CHF +0.58% Intraday chart for Zurich Insurance Group Ltd +3.15% +7.32%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 59,012 55,618 59,458 65,589 64,338 67,935 - -
Enterprise Value (EV) 1 63,044 58,781 66,796 71,486 70,042 76,988 76,885 80,094
P/E ratio 14.4 x 15.6 x 12.6 x 15.1 x 16.8 x 13 x 11.9 x 11.2 x
Yield 5.04% 5.35% 5.17% 4.99% - 5.85% 6.25% 6.61%
Capitalization / Revenue 1.2 x 1.24 x 1.15 x 1.21 x - 1.27 x 1.22 x 1.22 x
EV / Revenue 1.28 x 1.31 x 1.3 x 1.32 x - 1.44 x 1.38 x 1.44 x
EV / EBITDA - - - - - - - -
EV / FCF - 12.5 x 27.4 x 17.2 x 11.5 x 11.8 x 14.9 x 14.3 x
FCF Yield - 8.02% 3.65% 5.8% 8.72% 8.46% 6.71% 7%
Price to Book 1.72 x 1.58 x 1.66 x 2.66 x 2.89 x 2.97 x 2.77 x 2.6 x
Nbr of stocks (in thousands) 148,608 148,910 148,496 148,291 146,356 143,990 - -
Reference price 2 397.1 373.5 400.4 442.3 439.6 471.8 471.8 471.8
Announcement Date 2/13/20 2/10/21 2/10/22 2/9/23 2/22/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 49,350 44,995 51,493 54,135 - 53,647 55,702 55,743
EBITDA - - - - - - - -
EBIT 1 5,179 3,775 5,301 5,934 - 7,017 7,524 7,844
Operating Margin 10.49% 8.39% 10.29% 10.96% - 13.08% 13.51% 14.07%
Earnings before Tax (EBT) 1 5,958 4,802 6,759 5,485 5,694 7,452 8,032 8,424
Net income 1 4,051 3,412 4,802 4,234 3,836 5,208 5,613 5,862
Net margin 8.21% 7.58% 9.33% 7.82% - 9.71% 10.08% 10.52%
EPS 2 27.51 23.98 31.68 29.36 26.21 36.33 39.74 41.95
Free Cash Flow 1 - 4,715 2,440 4,146 6,107 6,515 5,158 5,610
FCF margin - 10.48% 4.74% 7.66% - 12.14% 9.26% 10.06%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - 138.17% 50.81% 97.91% 159.2% 125.1% 91.89% 95.69%
Dividend per Share 2 20.00 20.00 20.72 22.08 - 27.58 29.49 31.21
Announcement Date 2/13/20 2/10/21 2/10/22 2/9/23 2/22/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q2 2023 S1 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 23,431 23,899 - - - - - - - - - - - - - - - - -
EBITDA - - - - - - - - - - - - - - - - - - -
EBIT 2,429 1,548 2,260 2,505 - - 1,458 - 3,191 - - 2,813 - 3,249 - - - - -
Operating Margin 10.37% 6.48% - - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - 1,497 - - - - - - - - - - - 3,149 - - - - -
Net income 1 2,057 1,074 2,361 2,024 1,384 1,417 1,037 1,036 2,073 1,103 - 2,207 - 2,177 1,372 1,372 1,373 1,371 1,412
Net margin 8.78% 4.5% - - - - - - - - - - - - - - - - -
EPS 2 - 7.630 16.35 13.28 9.208 9.427 6.933 6.931 13.91 7.368 - - - 15.47 9.412 9.412 9.412 9.412 9.976
Dividend per Share 2 - - - - - 20.72 - - - - 22.08 22.08 - - - - - 27.48 -
Announcement Date 2/13/20 8/13/20 2/10/21 8/12/21 2/9/23 2/10/22 8/10/22 8/11/22 8/11/22 2/9/23 2/9/23 2/9/23 8/10/23 8/10/23 - - - - -
1CHF in Million2CHF
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,031 3,163 7,338 5,897 5,704 9,054 8,950 12,160
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - 4,715 2,440 4,146 6,107 6,515 5,158 5,610
ROE (net income / shareholders' equity) 12.7% 10.5% 13.7% 14.3% 17.2% 22.8% 23.1% 22.8%
ROA (Net income/ Total Assets) 1.04% 0.91% 1.19% 1.13% 1.25% 1.44% 1.52% 1.54%
Assets 1 390,719 375,601 403,944 374,224 307,165 360,900 369,503 381,786
Book Value Per Share 2 231.0 236.0 241.0 166.0 152.0 159.0 170.0 181.0
Cash Flow per Share - - - - - - - -
Capex 1 - 505 542 526 369 455 476 498
Capex / Sales - 1.12% 1.05% 0.97% - 0.85% 0.85% 0.89%
Announcement Date 2/13/20 2/10/21 2/10/22 2/9/23 2/22/24 - - -
1CHF in Million2CHF
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
471.8 CHF
Average target price
464.8 CHF
Spread / Average Target
-1.47%
Consensus
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