MUENCHENER RUECKVER AG-REG (MUV2.DE) Stock Fundamental Analysis
Europe - FRA:MUV2 - DE0008430026 - Common Stock
544.9 EUR
+2.7 (+0.5%)
We assign a fundamental rating of 5 out of 10 to MUV2. MUV2 was compared to 39 industry peers in the Insurance industry. While MUV2 belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. MUV2 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
MUV2 had positive earnings in the past year.
MUV2 had a positive operating cash flow in the past year.
Each year in the past 5 years MUV2 has been profitable.
MUV2 had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of MUV2 (2.06%) is better than 82.05% of its industry peers.
With an excellent Return On Equity value of 18.59%, MUV2 belongs to the best of the industry, outperforming 82.05% of the companies in the same industry.
MUV2 has a Return On Invested Capital of 2.27%. This is in the better half of the industry: MUV2 outperforms 66.67% of its industry peers.
MUV2 had an Average Return On Invested Capital over the past 3 years of 1.93%. This is in line with the industry average of 2.36%.
The 3 year average ROIC (1.93%) for MUV2 is below the current ROIC(2.27%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.06% | ||
| ROE | 18.59% | ||
| ROIC | 2.27% |
ROA(3y)1.88%
ROA(5y)1.4%
ROE(3y)17.52%
ROE(5y)13.23%
ROIC(3y)1.93%
ROIC(5y)1.43%
1.3 Margins
MUV2 has a Profit Margin of 9.15%. This is comparable to the rest of the industry: MUV2 outperforms 53.85% of its industry peers.
MUV2's Profit Margin has improved in the last couple of years.
MUV2's Operating Margin of 12.77% is fine compared to the rest of the industry. MUV2 outperforms 61.54% of its industry peers.
In the last couple of years the Operating Margin of MUV2 has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.77% | ||
| PM (TTM) | 9.15% | ||
| GM | N/A |
OM growth 3Y37.9%
OM growth 5Y19.51%
PM growth 3Y29.8%
PM growth 5Y16.55%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MUV2 is destroying value.
The number of shares outstanding for MUV2 has been reduced compared to 1 year ago.
MUV2 has less shares outstanding than it did 5 years ago.
The debt/assets ratio for MUV2 is higher compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of MUV2 is 1.53, which is an excellent value as it means it would take MUV2, only 1.53 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 1.53, MUV2 is doing good in the industry, outperforming 74.36% of the companies in the same industry.
A Debt/Equity ratio of 0.23 indicates that MUV2 is not too dependend on debt financing.
MUV2 has a Debt to Equity ratio of 0.23. This is amongst the best in the industry. MUV2 outperforms 89.74% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.23 | ||
| Debt/FCF | 1.53 | ||
| Altman-Z | N/A |
ROIC/WACC0.33
WACC6.97%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The earnings per share for MUV2 have decreased strongly by -12.23% in the last year.
Measured over the past years, MUV2 shows a quite strong growth in Earnings Per Share. The EPS has been growing by 17.67% on average per year.
Looking at the last year, MUV2 shows a small growth in Revenue. The Revenue has grown by 5.38% in the last year.
MUV2 shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.60% yearly.
EPS 1Y (TTM)-12.23%
EPS 3Y26.82%
EPS 5Y17.67%
EPS Q2Q%30.98%
Revenue 1Y (TTM)5.38%
Revenue growth 3Y-3.95%
Revenue growth 5Y-0.6%
Sales Q2Q%-1.19%
3.2 Future
Based on estimates for the next years, MUV2 will show a small growth in Earnings Per Share. The EPS will grow by 4.85% on average per year.
MUV2 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.83% yearly.
EPS Next Y13.96%
EPS Next 2Y9.5%
EPS Next 3Y8.17%
EPS Next 5Y4.85%
Revenue Next Year-3.2%
Revenue Next 2Y0.01%
Revenue Next 3Y1.44%
Revenue Next 5Y5.83%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 14.03, MUV2 is valued correctly.
Based on the Price/Earnings ratio, MUV2 is valued a bit more expensive than 61.54% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.42, MUV2 is valued a bit cheaper.
The Price/Forward Earnings ratio is 10.64, which indicates a very decent valuation of MUV2.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MUV2 is on the same level as its industry peers.
MUV2's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.94.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.03 | ||
| Fwd PE | 10.64 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MUV2 is valued a bit cheaper than 69.23% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MUV2 is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.19 | ||
| EV/EBITDA | 8.85 |
4.3 Compensation for Growth
MUV2's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of MUV2 may justify a higher PE ratio.
PEG (NY)1
PEG (5Y)0.79
EPS Next 2Y9.5%
EPS Next 3Y8.17%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.62%, MUV2 has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.55, MUV2 is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.36, MUV2 pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.62% |
5.2 History
On average, the dividend of MUV2 grows each year by 10.15%, which is quite nice.
Dividend Growth(5Y)10.15%
Div Incr Years1
Div Non Decr Years6
5.3 Sustainability
45.96% of the earnings are spent on dividend by MUV2. This is a bit on the high side, but may be sustainable.
The dividend of MUV2 is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP45.96%
EPS Next 2Y9.5%
EPS Next 3Y8.17%
FRA:MUV2 (10/20/2025, 3:45:15 PM)
544.9
+2.7 (+0.5%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners48.7%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap71.19B
Analysts70
Price Target581.46 (6.71%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.62% |
Yearly Dividend15.08
Dividend Growth(5Y)10.15%
DP45.96%
Div Incr Years1
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.98%
Min EPS beat(2)0.41%
Max EPS beat(2)17.54%
EPS beat(4)3
Avg EPS beat(4)-0.44%
Min EPS beat(4)-19.89%
Max EPS beat(4)17.54%
EPS beat(8)6
Avg EPS beat(8)3.52%
EPS beat(12)8
Avg EPS beat(12)32.92%
EPS beat(16)10
Avg EPS beat(16)27.6%
Revenue beat(2)0
Avg Revenue beat(2)-7.42%
Min Revenue beat(2)-9.44%
Max Revenue beat(2)-5.4%
Revenue beat(4)1
Avg Revenue beat(4)-2.61%
Min Revenue beat(4)-12.05%
Max Revenue beat(4)16.46%
Revenue beat(8)1
Avg Revenue beat(8)-6.88%
Revenue beat(12)3
Avg Revenue beat(12)-3.43%
Revenue beat(16)6
Avg Revenue beat(16)-0.35%
PT rev (1m)0%
PT rev (3m)-1.06%
EPS NQ rev (1m)5.84%
EPS NQ rev (3m)5.1%
EPS NY rev (1m)0%
EPS NY rev (3m)2.84%
Revenue NQ rev (1m)-0.18%
Revenue NQ rev (3m)-0.8%
Revenue NY rev (1m)-1.12%
Revenue NY rev (3m)-7.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.03 | ||
| Fwd PE | 10.64 | ||
| P/S | 1.15 | ||
| P/FCF | 15.19 | ||
| P/OCF | 14.23 | ||
| P/B | 2.33 | ||
| P/tB | 2.68 | ||
| EV/EBITDA | 8.85 |
EPS(TTM)38.84
EY7.13%
EPS(NY)51.19
Fwd EY9.39%
FCF(TTM)35.88
FCFY6.59%
OCF(TTM)38.29
OCFY7.03%
SpS475.53
BVpS234.08
TBVpS203.29
PEG (NY)1
PEG (5Y)0.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.06% | ||
| ROE | 18.59% | ||
| ROCE | 2.91% | ||
| ROIC | 2.27% | ||
| ROICexc | 2.31% | ||
| ROICexgc | 2.53% | ||
| OM | 12.77% | ||
| PM (TTM) | 9.15% | ||
| GM | N/A | ||
| FCFM | 7.55% |
ROA(3y)1.88%
ROA(5y)1.4%
ROE(3y)17.52%
ROE(5y)13.23%
ROIC(3y)1.93%
ROIC(5y)1.43%
ROICexc(3y)1.97%
ROICexc(5y)1.47%
ROICexgc(3y)2.15%
ROICexgc(5y)1.61%
ROCE(3y)2.47%
ROCE(5y)1.84%
ROICexcg growth 3Y35.26%
ROICexcg growth 5Y18.43%
ROICexc growth 3Y36.23%
ROICexc growth 5Y18.77%
OM growth 3Y37.9%
OM growth 5Y19.51%
PM growth 3Y29.8%
PM growth 5Y16.55%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.23
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.23 | ||
| Debt/FCF | 1.53 | ||
| Debt/EBITDA | 0.87 | ||
| Cap/Depr | 112.9% | ||
| Cap/Sales | 0.51% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 60.92% | ||
| Profit Quality | 82.46% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score6
WACC6.97%
ROIC/WACC0.33
Cap/Depr(3y)68.52%
Cap/Depr(5y)N/A
Cap/Sales(3y)0.57%
Cap/Sales(5y)N/A
Profit Quality(3y)55.2%
Profit Quality(5y)187.98%
High Growth Momentum
Growth
EPS 1Y (TTM)-12.23%
EPS 3Y26.82%
EPS 5Y17.67%
EPS Q2Q%30.98%
EPS Next Y13.96%
EPS Next 2Y9.5%
EPS Next 3Y8.17%
EPS Next 5Y4.85%
Revenue 1Y (TTM)5.38%
Revenue growth 3Y-3.95%
Revenue growth 5Y-0.6%
Sales Q2Q%-1.19%
Revenue Next Year-3.2%
Revenue Next 2Y0.01%
Revenue Next 3Y1.44%
Revenue Next 5Y5.83%
EBIT growth 1Y31.75%
EBIT growth 3Y32.46%
EBIT growth 5Y18.79%
EBIT Next Year9.77%
EBIT Next 3Y6.44%
EBIT Next 5YN/A
FCF growth 1Y61.54%
FCF growth 3Y-18.52%
FCF growth 5Y-21.52%
OCF growth 1Y50.11%
OCF growth 3Y-15.59%
OCF growth 5Y-19.83%