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 64,366 - -
Change - 15.65% 19.62% 27.06% 12.14% -10.53% - -
Enterprise Value (EV) 36,789 40,816 49,606 64,357 73,872 64,366 64,366 64,366
Change - 10.95% 21.54% 29.74% 14.78% -12.87% 0% 0%
P/E 12.4x 12.3x 11.1x 11.4x 11.9x 9.93x 10x 9.38x
PBR 1.18x 1.99x 1.7x 1.96x 2.16x 1.84x 1.75x 1.66x
PEG - 0.7x 0.3x 0.4x 1.2x 1.05x -14.05x 1.4x
Capitalization / Revenue 0.61x 0.63x 0.72x 0.88x 1x 0.96x 0.94x 0.9x
EV / Revenue 0x 0x 0x 0x 0x 0.96x 0.94x 0.9x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 7.43x 7.67x 7.58x
EV / FCF 0x - 0x 0x 0x 8.05x 7.75x 7.75x
FCF Yield 4.26% - 4.74% 4.41% 6.4% 12.4% 12.9% 12.9%
Dividend per Share 2 11 11.6 15 20 24 25.67 27.66 29.71
Rate of return 4.22% 3.82% 4% 4.11% 4.27% 5.01% 5.4% 5.8%
EPS 2 20.93 24.63 33.88 42.78 47.1 51.54 51.17 54.6
Distribution rate 52.6% 47.1% 44.3% 46.8% 51% 49.8% 54.1% 54.4%
Net sales 1 59,567 67,133 69,814 72,807 71,631 66,924 68,207 71,192
EBITDA - - - - - - - -
EBIT 1 3,517 3,582 5,702 7,969 8,876 8,666 8,388 8,497
Net income 1 2,933 3,419 4,597 5,671 6,121 6,525 6,276 6,396
Net Debt 293 -1,391 -882 205 1,932 - - -
Reference price 2 260.50 304.00 375.10 487.10 562.20 512.00 512.00 512.00
Nbr of stocks (in thousands) 140,099 138,838 134,600 131,702 127,962 125,715 - -
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.($)
9.9x - - 5.03% 71.93B
10.21x - - 5.09% 50.02B
11.11x1.46x - 5.09% 34.53B
9.88x0.64x - 1.54% 16.39B
6.94x - - 2.23% 14.06B
8.36x - - 0.51% 13.44B
7.5x0.63x - 6.33% 6.4B
6.74x0.26x - 4.56% 5.81B
Average 8.83x 0.75x 3.79% 26.57B
Weighted average by Cap. 9.72x 1.05x 4.34%

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