HNR1 Stock Analysis: Hannover Rück SE | XETRA
Insurance - Reinsurance | XETRA, Germany | Market Cap: 31.042m EUR | 12M Return: 9.6% | DE0008402215 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 29.0M
EPS Trend: 96.4%
Qual. Beats: 0
Rev. Trend: -0.5%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Hannover Rück SE is a German-based global reinsurer that operates as a subsidiary of Talanx AG, offering reinsurance products and services across more than 150 countries. The company is structured around two main segments: Property & Casualty Reinsurance and Life & Health Reinsurance, and it provides coverage across a broad range of specialty lines including aviation, marine, agriculture, cyber, and natural catastrophe risks. Founded in 1966 and headquartered in Hanover, the firm also delivers structured financial solutions such as new-business financing, reserve and solvency relief, and Solvency II–related reinsurance arrangements.
As a reinsurer, Hannover Rück essentially insures the insurers, assuming portions of risk from primary insurance companies in exchange for premiums, which allows primary carriers to stabilize their balance sheets and free up capital. The reinsurance industry is highly capital-intensive and globally consolidated, with Hannover Re consistently ranked among the worlds three largest reinsurers by premium volume. Its position within the Talanx Group, one of Germanys major insurance and financial services groups, provides additional distribution and capital support across both life/health and non-life reinsurance markets.
- Natural catastrophe losses pressure P&C combined ratio outlook
- Reinsurance pricing hardens at January renewal season
- Higher rates boost investment income on float
| Net Income: 9.08b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.05 > 1.0 |
| NWC/Revenue: 3.65% < 20% (prev 4.90k%; Δ -4.90k% < -1%) |
| CFO/TA 0.09 > 3% & CFO 6.46b > Net Income 9.08b |
| Net Debt (3.16b) to EBITDA (3.72b): 0.85 < 3 |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (120.6m) vs 12m ago -0.03% < -2% |
| Gross Margin: 94.03% > 18% (prev 88.97%; Δ 5.05% > 0.5%) |
| Asset Turnover: 118.3% > 50% (prev 1.66%; Δ 116.7% > 0%) |
| Interest Coverage Ratio: 29.76 > 6 (EBIT TTM 3.72b / Interest Expense TTM 124.9m) |
| A: 0.04 (Total Current Assets 3.10b - Total Current Liabilities 0.0) / Total Assets 74.4b |
| B: 0.17 (Retained Earnings 12.6b / Total Assets 74.4b) |
| C: 0.05 (EBIT TTM 3.72b / Avg Total Assets 71.9b) |
| D: 0.22 (Book Value of Equity 13.3b / Total Liabilities 60.1b) |
| Altman-Z'' = 1.41 = BB |
| DSRI: 0.10 (Receivables 2.04b/1.78b, Revenue 85.0b/1.15b) |
| GMI: 0.95 (GM 88.97% / 94.03%) |
| AQI: 5.43 (AQ_t 0.96 / AQ_t-1 0.18) |
| SGI: 74.02 (Revenue 85.0b / 1.15b) |
| TATA: 0.04 (NI 9.08b - CFO 6.46b) / TA 74.4b) |
| Beneish M = 51.17 (Cap -4..+1) = D |
As of September 01, 2026, the stock is trading at EUR 258.20 with a total of 169,082 shares traded. Over the past week, the price has changed by +2.38%, over one month by +3.03%, over three months by +13.54% and over the past year by +9.63%.
Current recommended Stop Loss: 252.80 (which is 2.1% or 1.4 ATR below the current price).
Hannover Rück SE has no consensus analysts rating.
P/E Trailing = 11.3592
P/E Forward = 10.4167
P/S = 1.3696
P/B = 2.3272
P/EG = 4.736
Revenue TTM = 85.0b EUR
EBIT TTM = 3.72b EUR
EBITDA TTM = 3.72b EUR
Long Term Debt = 4.05b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 181.7m EUR (from shortTermDebt, last fiscal year)
Debt = 4.22b EUR (from shortLongTermDebtTotal, last quarter) + Leases 92.1m
Net Debt = 3.16b EUR (calculated: Debt 4.22b - CCE 1.06b)
Enterprise Value = 34.2b EUR (31.0b + Debt 4.22b - CCE 1.06b)
Interest Coverage Ratio = 29.76 (Ebit TTM 3.72b / Interest Expense TTM 124.9m)
EV/FCF = 6.01x (Enterprise Value 34.2b / FCF TTM 5.69b)
FCF Yield = 16.63% (FCF TTM 5.69b / Enterprise Value 34.2b)
FCF Margin = 6.69% (FCF TTM 5.69b / Revenue TTM 85.0b)
Net Margin = 10.67% (Net Income TTM 9.08b / Revenue TTM 85.0b)
Gross Margin = 94.03% ((Revenue TTM 85.0b - Cost of Revenue TTM 5.08b) / Revenue TTM)
Gross Margin QoQ = 29.02% (prev none%)
Tobins Q-Ratio = 0.46 (Enterprise Value 34.2b / Total Assets 74.4b)
Interest Expense / Debt = 2.96% (Interest Expense 124.9m / Debt 4.22b)
Taxrate = 21.97% (206.4m / 939.6m)
NOPAT = 2.90b (EBIT 3.72b * (1 - 21.97%))
Current Ratio = unknown (Total Current Assets 3.10b / Total Current Liabilities 0.0)
Debt / Equity = 0.32 (Debt 4.22b / totalStockholderEquity, last quarter 13.3b)
Debt / EBITDA = 0.85 (Net Debt 3.16b / EBITDA 3.72b)
Debt / FCF = 0.56 (Net Debt 3.16b / FCF TTM 5.69b)
Total Stockholder Equity = 13.0b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.63% (Net Income 9.08b / Total Assets 74.4b)
RoE = 69.73% (Net Income TTM 9.08b / Total Stockholder Equity 13.0b)
RoCE = 21.78% (EBIT 3.72b / Capital Employed (Equity 13.0b + L.T.Debt 4.05b))
RoIC = 3.73% (NOPAT 2.90b / Invested Capital 77.8b)
WACC = 4.91% (E(31.0b)/V(35.3b) * Re(5.26%) + D(4.22b)/V(35.3b) * Rd(2.96%) * (1-Tc(0.22)))
Discount Rate = 5.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -28.97 | Cagr: 0.02%
[DCF] Terminal Value 76.44% ; FCFF base≈5.52b ; Y1≈5.91b ; Y5≈7.12b
[DCF] Fair Price = 879.8 (EV 109b - Net Debt 3.16b = Equity 106b / Shares 120.6m; r=8.35% [WACC [floored]]; 5y FCF grow 8.02% → 2.50% )
EPS Correlation: 96.44 | EPS CAGR: 17.35% | SUE: 0.67 | # QB: 0
Revenue Correlation: -0.52 | Revenue CAGR: -0.90% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=5.33 | Chg30d=+10.02% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=23.23 | Chg30d=+0.67% | Revisions=-29% | GrowthEPS=+6.0% | GrowthRev=+0.2%
EPS next Year (2027-12-31): EPS=23.59 | Chg30d=+0.76% | Revisions=+29% | GrowthEPS=+1.6% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: +8% (up=5, down=4)