AGN Stock Analysis: Aegon | AS
Insurance - Diversified | AS, Netherlands | Market Cap: 11.295m EUR | 12M Return: 23.7% | BMG0112X1056 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.9M
Qual. Beats: 0
Rev. Trend: -21.9%
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Aegon Ltd. is a Dutch insurance and financial services company founded in 1844 and headquartered in Schiphol, the Netherlands. It provides a range of insurance and investment products-including retirement plans, mutual funds, unit-linked products, annuities, and life and health insurance-to customers across the Americas, the Netherlands, the United Kingdom, and other international markets. The company operates under well-known brands such as Transamerica and World Financial Group.
As a multi-line insurer, Aegon generates revenue from premiums across life and health policies, fees on asset management products like mutual funds, and income from unit-linked contracts, in which policyholder returns are tied to the performance of underlying investment funds. The industry is heavily regulated, and insurers typically allocate a significant portion of premiums to investment portfolios to meet long-term policy obligations.
- US interest rate cuts pressure investment portfolio returns
- Variable annuity hedging costs weigh on margins
- Transamerica segment growth drives US earnings
- Dutch pension reform shifts retirement product demand
- Capital return program funded by asset management fee income
- UK bulk annuity market competition compresses spreads
| Net Income: 1.01b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.28 > 1.0 |
| NWC/Revenue: 80.06% < 20% (prev 205.4%; Δ -125.4% < -1%) |
| CFO/TA 0.00 > 3% & CFO 235.0m > Net Income 1.01b |
| Net Debt (507.0m) to EBITDA (1.12b): 0.45 < 3 |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (1.57b) vs 12m ago -5.95% < -2% |
| Gross Margin: 18.83% > 18% (prev 27.53%; Δ -8.70% > 0.5%) |
| Asset Turnover: 8.05% > 50% (prev 7.39%; Δ 0.67% > 0%) |
| Interest Coverage Ratio: 4.23 > 6 (EBIT TTM 1.27b / Interest Expense TTM 300.0m) |
| A: 0.06 (Total Current Assets 20.9b - Total Current Liabilities 0.0) / Total Assets 338b |
| B: 0.01 (Retained Earnings 3.89b / Total Assets 338b) |
| C: 0.00 (EBIT TTM 1.27b / Avg Total Assets 324b) |
| D: 0.03 (Book Value of Equity 8.91b / Total Liabilities 329b) |
| Altman-Z'' = 0.50 = B |
| DSRI: 3.0 (Receivables 17.4b/3.83b, Revenue 26.1b/22.9b) |
| GMI: 1.46 (GM 27.53% / 18.83%) |
| AQI: 1.14 (AQ_t 0.94 / AQ_t-1 0.82) |
| SGI: 1.14 (Revenue 26.1b / 22.9b) |
| TATA: 0.00 (NI 1.01b - CFO 235.0m) / TA 338b) |
| Beneish M = -0.78 (Cap -4..+1) = D |
As of November 12, 2026, the stock is trading at EUR 7.85 with a total of 3,618,535 shares traded. Over the past week, the price has changed by +2.97%, over one month by +4.67%, over three months by -1.78% and over the past year by +23.71%.
Current recommended Stop Loss: 7.60 (which is 3.2% or 1.8 ATR below the current price).
Aegon has no consensus analysts rating.
P/E Trailing = 13.1424
P/E Forward = 10.3199
P/S = 0.967
P/B = 1.2565
P/EG = 14.2828
Revenue TTM = 26.1b EUR
EBIT TTM = 1.27b EUR
EBITDA TTM = 1.12b EUR
Long Term Debt = 3.83b EUR (from longTermDebt, last quarter)
Short Term Debt = 41.0m EUR (from shortTermDebt, last fiscal year)
Debt = 4.02b EUR (from shortLongTermDebtTotal, last quarter) + Leases 187.0m
Net Debt = 507.0m EUR (calculated: Debt 4.02b - CCE 3.52b)
Enterprise Value = 11.8b EUR (11.3b + Debt 4.02b - CCE 3.52b)
Interest Coverage Ratio = 4.23 (Ebit TTM 1.27b / Interest Expense TTM 300.0m)
EV/FCF = 59.01x (Enterprise Value 11.8b / FCF TTM 200.0m)
FCF Yield = 1.69% (FCF TTM 200.0m / Enterprise Value 11.8b)
FCF Margin = 0.77% (FCF TTM 200.0m / Revenue TTM 26.1b)
Net Margin = 3.85% (Net Income TTM 1.01b / Revenue TTM 26.1b)
Gross Margin = 18.83% ((Revenue TTM 26.1b - Cost of Revenue TTM 21.2b) / Revenue TTM)
Gross Margin QoQ = 34.54% (prev none%)
Tobins Q-Ratio = 0.03 (Enterprise Value 11.8b / Total Assets 338b)
Interest Expense / Debt = 7.46% (Interest Expense 300.0m / Debt 4.02b)
Taxrate = 4.02% (39.0m / 969.0m)
NOPAT = 1.22b (EBIT 1.27b * (1 - 4.02%))
Current Ratio = unknown (Total Current Assets 20.9b / Total Current Liabilities 0.0)
Debt / Equity = 0.45 (Debt 4.02b / totalStockholderEquity, last quarter 8.91b)
Debt / EBITDA = 0.45 (Net Debt 507.0m / EBITDA 1.12b)
Debt / FCF = 2.54 (Net Debt 507.0m / FCF TTM 200.0m)
Total Stockholder Equity = 8.72b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.31% (Net Income 1.01b / Total Assets 338b)
RoE = 11.53% (Net Income TTM 1.01b / Total Stockholder Equity 8.72b)
RoCE = 10.10% (EBIT 1.27b / Capital Employed (Equity 8.72b + L.T.Debt 3.83b))
RoIC = 0.38% (EBIT 1.27b / (Assets 338b - Curr.Liab 0.0 - Cash 3.52b))
WACC = 7.84% (E(11.3b)/V(15.3b) * Re(8.08%) + D(4.02b)/V(15.3b) * Rd(7.46%) * (1-Tc(0.04)))
Discount Rate = 8.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -73.62 | Cagr: -9.05%
[DCF] Terminal Value 75.44% ; FCFF base≈200.0m ; Y1≈200.8m ; Y5≈212.7m
[DCF] Fair Price = 1.92 (EV 3.31b - Net Debt 507.0m = Equity 2.80b / Shares 1.46b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -21.90 | Revenue CAGR: -4.64% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.89 | Chg30d=+3.11% | Revisions=+0% | GrowthEPS=+8.4% | GrowthRev=+1.1%
EPS next Year (2027-12-31): EPS=0.98 | Chg30d=+5.84% | Revisions=+0% | GrowthEPS=+10.1% | GrowthRev=+2.0%
[Analyst] Revisions Ratio: +0% (up=0, down=0)