Company Valuation: Munich Re

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 36,496 42,207 50,488 64,152 71,940 68,790 - -
Change - 15.65% 19.62% 27.06% 12.14% -4.38% - -
Enterprise Value (EV) 36,789 40,816 49,606 64,357 73,872 68,790 68,790 68,790
Change - 10.95% 21.54% 29.74% 14.78% -6.88% 0% 0%
P/E 12.4x 12.3x 11.1x 11.4x 11.9x 10.8x 10.9x 10.2x
PBR 1.18x 1.99x 1.7x 1.96x 2.16x 2x 1.9x 1.8x
PEG - 0.7x 0.3x 0.4x 1.2x 1.13x -7.72x 1.57x
Capitalization / Revenue 0.61x 0.63x 0.72x 0.88x 1x 1.01x 0.99x 0.94x
EV / Revenue 0x 0x 0x 0x 0x 1.01x 0.99x 0.94x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 7.88x 8.21x 8.09x
EV / FCF 0x - 0x 0x 0x 8.6x 8.29x 8.29x
FCF Yield 4.26% - 4.74% 4.41% 6.4% 11.6% 12.1% 12.1%
Dividend per Share 2 11 11.6 15 20 24 25.72 27.66 29.71
Rate of return 4.22% 3.82% 4% 4.11% 4.27% 4.64% 4.99% 5.36%
EPS 2 20.93 24.63 33.88 42.78 47.1 51.6 50.87 54.18
Distribution rate 52.6% 47.1% 44.3% 46.8% 51% 49.8% 54.4% 54.8%
Net sales 1 59,567 67,133 69,814 72,807 71,631 68,057 69,830 72,944
EBITDA - - - - - - - -
EBIT 1 3,517 3,582 5,702 7,969 8,876 8,726 8,375 8,498
Net income 1 2,933 3,419 4,597 5,671 6,121 6,433 6,255 6,353
Net Debt 293 -1,391 -882 205 1,932 - - -
Reference price 2 260.50 304.00 375.10 487.10 562.20 554.80 554.80 554.80
Nbr of stocks (in thousands) 140,099 138,838 134,600 131,702 127,962 123,991 - -
Announcement Date 2/23/22 2/23/23 2/27/24 2/26/25 2/26/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.75x - - 4.64% 76.67B
10.72x - - 4.78% 53.2B
12.24x1.58x - 4.61% 37.85B
10.24x0.67x - 1.48% 17.04B
7.35x - - 2.11% 14.83B
9.5x - - 0.49% 13.57B
7.71x0.59x - 6.16% 6.53B
6.87x0.28x - 4.47% 5.99B
Average 9.42x 0.78x 3.59% 28.21B
Weighted average by Cap. 10.47x 1.14x 4.05%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Munich Re

Historical PBR trend

Valuation ratios - PBR - Munich Re

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Munich Re

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Munich Re


Year-on-year evolution of the Yield

Valuation ratios - Yield - Munich Re