MUV2 Stock Analysis: Münchener Rück | XETRA
Insurance - Reinsurance | XETRA, Germany | Market Cap: 65.902m EUR | 12M Return: 3.8% | DE0008430026 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 129M
EPS Trend: 75.6%
Qual. Beats: 1
Rev. Trend: 44.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
Münchener Rückversicherungs-Gesellschaft (Munich Re) is a Munich-based global insurance and reinsurance group founded in 1880. The company operates through six segments: Life and Health Reinsurance, Property-Casualty Reinsurance, Global Specialty Insurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International.
The reinsurance business provides life and health solutions (including digital underwriting, advanced analytics, and the MIRA digital suite) as well as property and casualty reinsurance covering agricultural risks, cyber, natural catastrophes, infrastructure, aviation, space, and structured risk transfer. Through its ERGO brand, the company also distributes primary life, property-casualty, health, legal protection, and travel insurance products directly to customers in Germany and internationally.
Munich Re is widely regarded as one of the largest reinsurers globally, a sector that functions as a wholesale risk-bearer for primary insurers, assuming portions of their underwriting portfolios in exchange for premiums. Reinsurers play a stabilizing role in the insurance value chain by absorbing large or specialty risks-such as natural catastrophes and aviation-that primary carriers prefer to offload to manage capital and solvency requirements.
- Natural catastrophe losses pressure P&C reinsurance combined ratio
- Reinsurance pricing hardens amid elevated catastrophe activity and tighter capacity
- Rising interest rates boost investment portfolio yields and total return
| Net Income: 6.87b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -0.64 > 1.0 |
| NWC/Revenue: 24.28% < 20% (prev 431.5%; Δ -407.2% < -1%) |
| CFO/TA 0.00 > 3% & CFO 1.27b > Net Income 6.87b |
| Net Debt (1.93b) to EBITDA (10.00b): 0.19 < 3 |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (126.6m) vs 12m ago -2.90% < -2% |
| Gross Margin: 82.24% > 18% (prev 100.0%; Δ -17.76% > 0.5%) |
| Asset Turnover: 24.76% > 50% (prev 14.84%; Δ 9.93% > 0%) |
| Interest Coverage Ratio: 36.65 > 6 (EBIT TTM 9.64b / Interest Expense TTM 263.0m) |
| A: 0.06 (Total Current Assets 16.9b - Total Current Liabilities 0.0) / Total Assets 285b |
| B: 0.09 (Retained Earnings 26.4b / Total Assets 285b) |
| C: 0.03 (EBIT TTM 9.64b / Avg Total Assets 280b) |
| D: 0.13 (Book Value of Equity 33.6b / Total Liabilities 251b) |
| Altman-Z'' = 1.06 = BB |
| DSRI: 1.10 (Receivables 11.0b/5.91b, Revenue 69.4b/40.9b) |
| GMI: 1.22 (GM 100.0% / 82.24%) |
| AQI: 2.82 (AQ_t 0.93 / AQ_t-1 0.33) |
| SGI: 1.70 (Revenue 69.4b / 40.9b) |
| TATA: 0.02 (NI 6.87b - CFO 1.27b) / TA 285b) |
| Beneish M = -1.17 (Cap -4..+1) = D |
As of October 17, 2026, the stock is trading at EUR 547.20 with a total of 234,947 shares traded. Over the past week, the price has changed by +4.47%, over one month by +6.96%, over three months by +6.83% and over the past year by +3.83%.
Current recommended Stop Loss: 535.50 (which is 2.1% or 1.3 ATR below the current price).
Münchener Rück has no consensus analysts rating.
P/E Trailing = 9.7852
P/E Forward = 10.01
P/S = 1.0709
P/B = 1.8812
P/EG = 2.0309
Revenue TTM = 69.4b EUR
EBIT TTM = 9.64b EUR
EBITDA TTM = 10.00b EUR
Long Term Debt = 7.39b EUR (from longTermDebt, last quarter)
Short Term Debt = 242.0m EUR (from shortTermDebt, last fiscal year)
Debt = 7.75b EUR (from shortLongTermDebtTotal, last quarter) + Leases 356.0m
Net Debt = 1.93b EUR (calculated: Debt 7.75b - CCE 5.82b)
Enterprise Value = 67.8b EUR (65.9b + Debt 7.75b - CCE 5.82b)
Interest Coverage Ratio = 36.65 (Ebit TTM 9.64b / Interest Expense TTM 263.0m)
EV/FCF = 61.38x (Enterprise Value 67.8b / FCF TTM 1.10b)
FCF Yield = 1.63% (FCF TTM 1.10b / Enterprise Value 67.8b)
FCF Margin = 1.59% (FCF TTM 1.10b / Revenue TTM 69.4b)
Net Margin = 9.90% (Net Income TTM 6.87b / Revenue TTM 69.4b)
Gross Margin = 82.24% ((Revenue TTM 69.4b - Cost of Revenue TTM 12.3b) / Revenue TTM)
Gross Margin QoQ = 33.87% (prev none%)
Tobins Q-Ratio = 0.24 (Enterprise Value 67.8b / Total Assets 285b)
Interest Expense / Debt = 3.39% (Interest Expense 263.0m / Debt 7.75b)
Taxrate = 25.81% (2.39b / 9.26b)
NOPAT = 7.15b (EBIT 9.64b * (1 - 25.81%))
Current Ratio = unknown (Total Current Assets 16.9b / Total Current Liabilities 0.0)
Debt / Equity = 0.23 (Debt 7.75b / totalStockholderEquity, last quarter 33.6b)
Debt / EBITDA = 0.19 (Net Debt 1.93b / EBITDA 10.00b)
Debt / FCF = 1.74 (Net Debt 1.93b / FCF TTM 1.10b)
Total Stockholder Equity = 33.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.45% (Net Income 6.87b / Total Assets 285b)
RoE = 20.59% (Net Income TTM 6.87b / Total Stockholder Equity 33.4b)
RoCE = 23.65% (EBIT 9.64b / Capital Employed (Equity 33.4b + L.T.Debt 7.39b))
RoIC = 3.45% (EBIT 9.64b / (Assets 285b - Curr.Liab 0.0 - Cash 5.82b))
WACC = 4.66% (E(65.9b)/V(73.6b) * Re(4.91%) + D(7.75b)/V(73.6b) * Rd(3.39%) * (1-Tc(0.26)))
Discount Rate = 4.91% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.42 | Cagr: -2.54%
[DCF] Terminal Value 73.10% ; FCFF base≈1.79b ; Y1≈1.57b ; Y5≈1.27b
[DCF] Fair Price = 146.8 (EV 20.4b - Net Debt 1.93b = Equity 18.5b / Shares 125.8m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 75.56 | EPS CAGR: 13.04% | SUE: 4.0 | # QB: 1
Revenue Correlation: 44.55 | Revenue CAGR: 12.49% | SUE: 0.32 | # QB: 0
EPS current Quarter (2026-09-30): EPS=10.09 | Chg30d=-0.67% | Revisions=-40% | Analysts=3
EPS current Year (2026-12-31): EPS=52.19 | Chg30d=+0.56% | Revisions=+55% | GrowthEPS=+10.8% | GrowthRev=-6.6%
EPS next Year (2027-12-31): EPS=51.62 | Chg30d=+0.02% | Revisions=-36% | GrowthEPS=-1.1% | GrowthRev=+1.9%
[Analyst] Revisions Ratio: +0% (up=9, down=9)