(HNR1) Hannover Rück SE - Overview
Sector: Financial Services | Industry: Insurance - Reinsurance | Exchange: XETRA (Germany) | Market Cap: 29.257m EUR | Total Return: -9.8% in 12m
Avg Turnover: 51.0M
EPS Trend: 97.3%
Qual. Beats: 0
Rev. Trend: -29.6%
Qual. Beats: 1
Warnings
Choppy
Tailwinds
No distinct edge detected
Hannover Rück SE is a global reinsurance provider headquartered in Germany, operating as a core subsidiary of Talanx AG. The company maintains a diversified portfolio split between Property & Casualty (P&C) and Life & Health (L&H) segments, offering risk transfer solutions ranging from natural catastrophe and cyber coverage to longevity and mortality risks. Unlike primary insurers who deal directly with consumers, reinsurers act as insurance for insurance companies, helping to stabilize the global financial system by absorbing large-scale losses and managing capital volatility.
The firm’s business model emphasizes technical underwriting and financial engineering, providing specialized services such as solvency relief, embedded value monetization, and insurance-linked securities. In the current market, reinsurers often benefit from hardening cycles where increased risk perceptions lead to higher premium rates across global markets. For a deeper look at how these market cycles impact specific valuation metrics, consider reviewing the latest data on ValueRay. Founded in 1966, Hannover Rück SE has evolved into one of the largest reinsurance groups worldwide, supporting a broad client base across Europe, the Americas, and Asia.
- Natural catastrophe loss frequency impacts quarterly underwriting margins and dividend capacity
- Investment income yields fluctuate based on European Central Bank interest rate policies
- Life and health segment profitability depends on mortality and longevity trend stability
- Global reinsurance pricing cycles dictate premium growth and contract renewal profitability
- Solvency II capital ratios determine long-term shareholder return and payout flexibility
| Net Income: 9.21b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.15 > 1.0 |
| NWC/Revenue: 3.90% < 20% (prev 2.67k%; Δ -2.67k% < -1%) |
| CFO/TA 0.08 > 3% & CFO 5.88b > Net Income 9.21b |
| Net Debt (3.10b) to EBITDA (3.82b): 0.81 < 3 |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (120.6m) vs 12m ago -0.11% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 113.4% > 50% (prev 2.93%; Δ 110.4% > 0%) |
| Interest Coverage Ratio: 29.55 > 6 (EBITDA TTM 3.82b / Interest Expense TTM 129.3m) |
| A: 0.04 (Total Current Assets 3.23b - Total Current Liabilities 0.0) / Total Assets 73.4b |
| B: 0.18 (Retained Earnings 13.4b / Total Assets 73.4b) |
| C: 0.05 (EBIT TTM 3.82b / Avg Total Assets 73.0b) |
| D: 0.22 (Book Value of Equity 13.1b / Total Liabilities 58.6b) |
| Altman-Z'' = 1.47 = BB |
| DSRI: 0.03 (Receivables 2.09b/1.94b, Revenue 82.8b/2.12b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 4.62 (AQ_t 0.96 / AQ_t-1 0.21) |
| SGI: 38.96 (Revenue 82.8b / 2.12b) |
| TATA: 0.05 (NI 9.21b - CFO 5.88b) / TA 73.4b) |
| Beneish M = 25.58 (Cap -4..+1) = D |
As of May 23, 2026, the stock is trading at EUR 243.60 with a total of 205,993 shares traded.
Over the past week, the price has changed by +1.68%,
over one month by -8.39%,
over three months by +1.75% and
over the past year by -9.76%.
Hannover Rück SE has no consensus analysts rating.
P/E Trailing = 10.1933
P/E Forward = 10.5152
P/S = 1.204
P/B = 2.1185
P/EG = 2.3379
Revenue TTM = 82.8b EUR
EBIT TTM = 3.82b EUR
EBITDA TTM = 3.82b EUR
Long Term Debt = 4.05b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 181.7m EUR (from shortTermDebt, last fiscal year)
Debt = 4.24b EUR (from shortLongTermDebtTotal, last quarter) + Leases 92.1m
Net Debt = 3.10b EUR (calculated: Debt 4.24b - CCE 1.14b)
Enterprise Value = 32.4b EUR (29.3b + Debt 4.24b - CCE 1.14b)
Interest Coverage Ratio = 29.55 (Ebit TTM 3.82b / Interest Expense TTM 129.3m)
EV/FCF = 5.50x (Enterprise Value 32.4b / FCF TTM 5.88b)
FCF Yield = 18.17% (FCF TTM 5.88b / Enterprise Value 32.4b)
FCF Margin = 7.10% (FCF TTM 5.88b / Revenue TTM 82.8b)
Net Margin = 11.13% (Net Income TTM 9.21b / Revenue TTM 82.8b)
Gross Margin = unknown ((Revenue TTM 82.8b - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 0.44 (Enterprise Value 32.4b / Total Assets 73.4b)
Interest Expense / Debt = 3.05% (Interest Expense 129.3m / Debt 4.24b)
Taxrate = 21.52% (204.4m / 949.7m)
NOPAT = 3.00b (EBIT 3.82b * (1 - 21.52%))
Current Ratio = unknown (Total Current Assets 3.23b / Total Current Liabilities 0.0)
Debt / Equity = 0.31 (Debt 4.24b / totalStockholderEquity, last quarter 13.9b)
Debt / EBITDA = 0.81 (Net Debt 3.10b / EBITDA 3.82b)
Debt / FCF = 0.53 (Net Debt 3.10b / FCF TTM 5.88b)
Total Stockholder Equity = 12.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.62% (Net Income 9.21b / Total Assets 73.4b)
RoE = 73.88% (Net Income TTM 9.21b / Total Stockholder Equity 12.5b)
RoCE = 23.12% (EBIT 3.82b / Capital Employed (Equity 12.5b + L.T.Debt 4.05b))
RoIC = 5.29% (EBIT 3.82b / (Assets 73.4b - Curr.Liab 0.0 - Cash 1.14b))
WACC = 6.32% (E(29.3b)/V(33.5b) * Re(6.89%) + D(4.24b)/V(33.5b) * Rd(3.05%) * (1-Tc(0.22)))
Discount Rate = 6.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 4.49 | Cagr: 0.04%
[DCF] Terminal Value 75.85% ; FCFF base≈5.81b ; Y1≈5.98b ; Y5≈6.68b
[DCF] Fair Price = 831.0 (EV 103b - Net Debt 3.10b = Equity 100b / Shares 120.6m; r=8.35% [WACC [floored]]; 5y FCF grow 3.18% → 2.50% )
EPS Correlation: 97.26 | EPS CAGR: 18.68% | SUE: -0.42 | # QB: 0
Revenue Correlation: -29.62 | Revenue CAGR: -38.10% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-06-30): EPS=5.01 | Chg30d=-9.60% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=4.79 | Chg30d=-11.49% | Revisions=+20% | Analysts=2
EPS current Year (2026-12-31): EPS=23.11 | Chg30d=+0.10% | Revisions=-27% | GrowthEPS=+5.5% | GrowthRev=+1.8%
EPS next Year (2027-12-31): EPS=23.12 | Chg30d=-1.67% | Revisions=+0% | GrowthEPS=+0.1% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: -27%