Company Valuation: Hannover Re

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 20,158 22,371 26,085 29,112 32,099 28,726 - -
Change - 10.98% 16.6% 11.6% 10.26% -10.51% - -
Enterprise Value (EV) 1 24,528 27,881 29,906 29,112 35,190 37,388 37,463 37,542
Change - 13.67% 7.26% -2.65% 20.88% 6.25% 0.2% 0.21%
P/E ratio 16.4x 15.9x 14.3x 12.5x 12.2x 10.3x 10.2x 9.87x
PBR 1.7x 2.76x 2.58x 2.47x 2.48x 2.05x 1.9x 1.75x
PEG - 1.1x 0.5x 0.5x 0.9x 1.94x 7.13x 3.16x
Capitalization / Revenue 0.73x 0.67x 1.07x 1.1x 1.2x 1.04x 1x 0.96x
EV / Revenue 0.88x 0.84x 1.22x 1.1x 1.31x 1.36x 1.3x 1.25x
EV / EBITDA - - - - - - - -
EV / EBIT 14.1x 13.4x 15.2x 8.78x 10x 9.74x 9.63x 9.36x
EV / FCF - - 5.56x - - 55.6x 59.8x 67.9x
FCF Yield - - 18% - - 1.8% 1.67% 1.47%
Dividend per Share 2 5.75 - 7.2 9 12.5 12.92 13.5 14.36
Rate of return 3.44% - 3.33% 3.73% 4.7% 5.42% 5.67% 6.03%
EPS 2 10.21 11.66 15.13 19.31 21.9 23.06 23.39 24.12
Distribution rate 56.3% - 47.6% 46.6% 57.1% 56% 57.7% 59.5%
Net sales 1 27,762 33,276 24,456 26,379 26,786 27,559 28,841 30,060
EBITDA - - - - - - - -
EBIT 1 1,735 2,087 1,971 3,318 3,508 3,837 3,891 4,010
Net income 1 1,231 1,407 1,825 2,329 2,642 2,781 2,811 2,901
Net Debt 1 4,370 5,510 3,821 - 3,091 8,662 8,737 8,816
Reference price 2 167.15 185.50 216.30 241.40 266.20 238.20 238.20 238.20
Nbr of stocks (in thousands) 120,597 120,597 120,597 120,597 120,581 120,597 - -
Announcement Date 3/10/22 3/9/23 3/18/24 3/12/25 3/12/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.33x1.36x - 5.42% 33.85B
9.91x - - 5.15% 74.71B
6.52x - - 2.38% 13.88B
9.09x - - 0.55% 12.62B
8.78x - - - 2.7B
6.73x - - 5.85% 913M
6.99x - - 3.64% 880M
Average 8.33x 1.36x 3.83% 19.94B
Weighted average by Cap. 9.54x 1.36x 4.51%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield