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Market Closed -
Xetra
19:39:41 08/09/2026 +04
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After hours 21:29:23 | |||
| 502.40 EUR | -2.07% |
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503.50 | +0.22% |
| 05:52pm | Munich Re: Wave of insurance mergers in the US expected | RE |
| 01:11pm | Munich Re : Berenberg remains Neutral | ZD |
Projected Income Statement: Munich Re
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 59,567 | 67,133 | 69,814 | 72,807 | 71,631 | 70,034 | 68,302 | 71,308 |
| Change | - | 12.7% | 3.99% | 4.29% | -1.62% | -2.23% | -2.47% | 4.4% |
| EBITDA | - | - | - | - | - | - | - | - |
| Change | - | - | - | - | - | - | - | - |
| EBIT 1 | 3,517 | 3,582 | 5,702 | 7,969 | 8,876 | 8,613 | 8,389 | 8,529 |
| Change | - | 1.85% | 59.18% | 39.76% | 11.38% | -2.96% | -2.61% | 1.68% |
| Interest Paid 1 | -205 | -179 | -168 | -207 | -248 | -254 | -250 | -250 |
| Earnings before Tax (EBT) 1 | 3,484 | 3,999 | 5,533 | 7,762 | 8,628 | 8,304 | 8,266 | 8,435 |
| Change | - | 14.78% | 38.36% | 40.29% | 11.16% | -3.75% | -0.46% | 2.04% |
| Net income 1 | 2,933 | 3,419 | 4,597 | 5,671 | 6,121 | 6,502 | 6,266 | 6,394 |
| Change | - | 16.57% | 34.45% | 23.36% | 7.94% | 6.22% | -3.62% | 2.03% |
| Announcement Date | 23/02/22 | 23/02/23 | 27/02/24 | 26/02/25 | 26/02/26 | - | - | - |
Forecast Balance Sheet: Munich Re
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | 293 | -1,391 | -882 | 205 | 1,932 | - | - | - |
| Change | - | -574.74% | 36.59% | 123.24% | 842.44% | - | - | - |
| Announcement Date | 23/02/22 | 23/02/23 | 27/02/24 | 26/02/25 | 26/02/26 | - | - | - |
Cash Flow Forecast: Munich Re
| Fiscal Period: December | 2021 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|
| CAPEX 1 | - | - | 316 | 300 | 286 | 284 | 294 |
| Change | - | - | - | -5.06% | -4.67% | -0.7% | 3.52% |
| Free Cash Flow (FCF) 1 | 1,556 | 2,395 | 2,827 | 4,606 | 8,000 | 8,300 | 8,300 |
| Change | - | - | 18.04% | 62.93% | 73.69% | 3.75% | 0% |
| Announcement Date | 23/02/22 | 27/02/24 | 26/02/25 | 26/02/26 | - | - | - |
Forecast Financial Ratios: Munich Re
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | - | - | - | - | - | - | - | - |
| EBIT Margin (%) | 5.9% | 5.34% | 8.17% | 10.95% | 12.39% | 12.3% | 12.28% | 11.96% |
| EBT Margin (%) | 5.85% | 5.96% | 7.93% | 10.66% | 12.05% | 11.86% | 12.1% | 11.83% |
| Net margin (%) | 4.92% | 5.09% | 6.58% | 7.79% | 8.55% | 9.28% | 9.17% | 8.97% |
| FCF margin (%) | 2.61% | - | 3.43% | 3.88% | 6.43% | 11.42% | 12.15% | 11.64% |
| FCF / Net Income (%) | 53.05% | - | 52.1% | 49.85% | 75.25% | 123.04% | 132.45% | 129.81% |
Profitability | ||||||||
| ROA | 0.96% | 1.12% | 1.69% | 2.02% | 2.16% | 2.34% | 2.12% | 1.95% |
| ROE | 12.6% | 13.5% | 15.7% | 18.2% | 18.3% | 19.14% | 17.94% | 18.04% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Debt / Free cash flow | 0.19x | - | - | 0.07x | 0.42x | - | - | - |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | - | - | - | 0.43% | 0.42% | 0.41% | 0.42% | 0.41% |
| CAPEX / EBITDA (%) | - | - | - | - | - | - | - | - |
| CAPEX / FCF (%) | - | - | - | 11.18% | 6.51% | 3.58% | 3.42% | 3.54% |
Items per share | ||||||||
| Cash flow per share 1 | - | - | - | - | - | - | - | - |
| Change | - | - | - | - | - | - | - | - |
| Dividend per Share 1 | 11 | 11.6 | 15 | 20 | 24 | 25.72 | 27.57 | 29.64 |
| Change | - | 5.45% | 29.31% | 33.33% | 20% | 7.17% | 7.2% | 7.5% |
| Book Value Per Share 1 | 220 | 153 | 220.3 | 248.4 | 259.8 | 278.1 | 292 | 308.8 |
| Change | - | -30.46% | 43.95% | 12.77% | 4.6% | 7.04% | 4.98% | 5.75% |
| EPS 1 | 20.93 | 24.63 | 33.88 | 42.78 | 47.1 | 51.32 | 51.08 | 54.52 |
| Change | - | 17.68% | 37.56% | 26.27% | 10.1% | 8.96% | -0.47% | 6.74% |
| Nbr of stocks (in thousands) | 140,099 | 138,838 | 134,600 | 131,702 | 127,962 | 125,715 | 125,715 | 125,715 |
| Announcement Date | 23/02/22 | 23/02/23 | 27/02/24 | 26/02/25 | 26/02/26 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E | 10x | 10x |
| PBR | 1.84x | 1.76x |
| EV / Sales | 0.92x | 0.94x |
| Yield | 5.01% | 5.37% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
Trader
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Quarterly revenue - Rate of surprise
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