(MUV2) Münchener Rück - Ratings and Ratios
Reinsurance, Life, Health, Property, Casualty
Dividends
| Dividend Yield | 3.55% |
| Yield on Cost 5y | 10.16% |
| Yield CAGR 5y | 11.23% |
| Payout Consistency | 95.8% |
| Payout Ratio | 42.3% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 20.9% |
| Value at Risk 5%th | 32.2% |
| Relative Tail Risk | -6.41% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.42 |
| Alpha | 8.92 |
| CAGR/Max DD | 1.67 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.361 |
| Beta | -0.033 |
| Beta Downside | 0.078 |
| Drawdowns 3y | |
|---|---|
| Max DD | 15.20% |
| Mean DD | 3.53% |
| Median DD | 2.41% |
Description: MUV2 Münchener Rück December 03, 2025
Münchener Rück AG (XETRA:MUV2) is a global insurer and reinsurer headquartered in Munich, operating through five segments: Life & Health Reinsurance, Property-Casualty Reinsurance, ERGO Life & Health Germany, ERGO Property-Casualty Germany, and ERGO International.
The firm’s product suite spans digital underwriting, advanced analytics, and health-market platforms (e.g., MIRA digital suite), as well as property-casualty solutions such as agricultural reinsurance, cyber risk transfer, and natural-catastrophe data services (NatCatSERVICE). It also delivers corporate risk products for green-tech, aviation, and parametric insurance under the ERGO brand.
Key recent metrics (as of FY 2023): net written premiums of €58 bn, a combined ratio of 94.5 % in the Property-Casualty segment, and a return on equity of roughly 12 %, reflecting strong capital efficiency despite a volatile climate-risk environment.
Sector drivers that materially affect MUV2 include rising global reinsurance pricing due to increased frequency of extreme weather events, a low-interest-rate backdrop that pressures investment income, and regulatory shifts in European Solvency II capital requirements that incentivize digital risk analytics.
For a deeper quantitative view, you might explore ValueRay’s detailed financial models for MUV2.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (6.16b TTM) > 0 and > 6% of Revenue (6% = 2.44b TTM) |
| FCFTA 0.01 (>2.0%) and ΔFCFTA 0.16pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -2.46% (prev 97.70%; Δ -100.2pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.02 (>3.0%) and CFO 6.26b > Net Income 6.16b (YES >=105%, WARN >=100%) |
| Net Debt (1.98b) to EBITDA (6.69b) ratio: 0.30 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.86 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (129.6m) change vs 12m ago -2.17% (target <= -2.0% for YES) |
| Gross Margin 23.03% (prev 98.15%; Δ -75.12pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 14.56% (prev 15.17%; Δ -0.62pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 18.23 (EBITDA TTM 6.69b / Interest Expense TTM 351.0m) >= 6 (WARN >= 3) |
Altman Z'' 0.55
| (A) -0.00 = (Total Current Assets 6.12b - Total Current Liabilities 7.12b) / Total Assets 279.13b |
| (B) 0.09 = Retained Earnings (Balance) 26.19b / Total Assets 279.13b |
| (C) 0.02 = EBIT TTM 6.40b / Avg Total Assets 279.57b |
| (D) 0.11 = Book Value of Equity 26.19b / Total Liabilities 246.71b |
| Total Rating: 0.55 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 69.10
| 1. Piotroski 5.0pt |
| 2. FCF Yield 3.98% |
| 3. FCF Margin 6.95% |
| 4. Debt/Equity 0.20 |
| 5. Debt/Ebitda 0.30 |
| 6. ROIC - WACC (= 5.64)% |
| 7. RoE 19.17% |
| 8. Rev. Trend -20.32% |
| 9. EPS Trend 66.65% |
What is the price of MUV2 shares?
Over the past week, the price has changed by +5.98%, over one month by +2.81%, over three months by +5.86% and over the past year by +19.07%.
Is MUV2 a buy, sell or hold?
What are the forecasts/targets for the MUV2 price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 580.8 | 3.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 701.9 | 24.6% |
MUV2 Fundamental Data Overview December 10, 2025
Market Cap EUR = 70.20b (70.20b EUR * 1.0 EUR.EUR)
P/E Trailing = 11.1664
P/E Forward = 11.0254
P/S = 1.1304
P/B = 2.137
P/EG = 0.4129
Beta = 0.453
Revenue TTM = 40.70b EUR
EBIT TTM = 6.40b EUR
EBITDA TTM = 6.69b EUR
Long Term Debt = 7.40b EUR (from longTermDebt, last quarter)
Short Term Debt = 213.0m EUR (from shortTermDebt, last fiscal year)
Debt = 6.32b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 1.98b EUR (from netDebt column, last quarter)
Enterprise Value = 71.09b EUR (70.20b + Debt 6.32b - CCE 5.43b)
Interest Coverage Ratio = 18.23 (Ebit TTM 6.40b / Interest Expense TTM 351.0m)
FCF Yield = 3.98% (FCF TTM 2.83b / Enterprise Value 71.09b)
FCF Margin = 6.95% (FCF TTM 2.83b / Revenue TTM 40.70b)
Net Margin = 15.14% (Net Income TTM 6.16b / Revenue TTM 40.70b)
Gross Margin = 23.03% ((Revenue TTM 40.70b - Cost of Revenue TTM 31.33b) / Revenue TTM)
Gross Margin QoQ = 18.06% (prev 17.89%)
Tobins Q-Ratio = 0.25 (Enterprise Value 71.09b / Total Assets 279.13b)
Interest Expense / Debt = 0.95% (Interest Expense 60.0m / Debt 6.32b)
Taxrate = 32.90% (979.0m / 2.98b)
NOPAT = 4.29b (EBIT 6.40b * (1 - 32.90%))
Current Ratio = 0.86 (Total Current Assets 6.12b / Total Current Liabilities 7.12b)
Debt / Equity = 0.20 (Debt 6.32b / totalStockholderEquity, last quarter 32.24b)
Debt / EBITDA = 0.30 (Net Debt 1.98b / EBITDA 6.69b)
Debt / FCF = 0.70 (Net Debt 1.98b / FCF TTM 2.83b)
Total Stockholder Equity = 32.15b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.21% (Net Income 6.16b / Total Assets 279.13b)
RoE = 19.17% (Net Income TTM 6.16b / Total Stockholder Equity 32.15b)
RoCE = 16.18% (EBIT 6.40b / Capital Employed (Equity 32.15b + L.T.Debt 7.40b))
RoIC = 11.10% (NOPAT 4.29b / Invested Capital 38.69b)
WACC = 5.46% (E(70.20b)/V(76.52b) * Re(5.89%) + D(6.32b)/V(76.52b) * Rd(0.95%) * (1-Tc(0.33)))
Discount Rate = 5.89% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -1.87%
[DCF Debug] Terminal Value 75.11% ; FCFE base≈2.65b ; Y1≈2.19b ; Y5≈1.57b
Fair Price DCF = 223.9 (DCF Value 29.02b / Shares Outstanding 129.6m; 5y FCF grow -21.22% → 3.0% )
EPS Correlation: 66.65 | EPS CAGR: 27.63% | SUE: 0.51 | # QB: 0
Revenue Correlation: -20.32 | Revenue CAGR: -2.49% | SUE: -0.20 | # QB: 0
EPS next Quarter (2026-03-31): EPS=12.16 | Chg30d=+0.319 | Revisions Net=+2 | Analysts=2
EPS next Year (2026-12-31): EPS=50.94 | Chg30d=+0.244 | Revisions Net=-3 | Growth EPS=+5.5% | Growth Revenue=+3.5%