Allianz SE VNA O.N. (ALV) Fair Value & Analysis
Financial Services · DE · Market cap €160B · ISIN DE0008404005
What is Allianz SE VNA O.N. really worth?
A solid business, but trading 69% above our fair value of €266.04.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 6 valuation models · updated 6 days ago
Share price +3.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€332.56). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €131.74 – €453.30 · fair‑value band €199.53 – €332.56 · the €450.60 price screens above the €266.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Allianz SE VNA O.N. (ALV) currently trades at €450.60, while our model-based Fair Value estimate is €266.04, implying the stock looks roughly 69.4% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of €231.52 per share, and 0 of the 6 models we run sit above the €450.60 price. Bear case: the Asset-Based group reads lowest at €110.80, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Allianz SE VNA O.N. generated revenue of €115B at a net margin of 10.4%. Revenue grew 8.8% year over year. It earns a return on equity of 18.7%. The balance sheet holds a net cash position of €1.2B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €199.53 (bear case) to €332.56 (bull case); at €450.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −41%, ALV screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €20.96 per share, which is 7.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Multiples (€231.52) versus Asset-Based (€110.80). Highest evidence: Gordon GGM (69).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 83
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Allianz SE, together with its subsidiaries, provides property-casualty insurance, life/health insurance, and asset management products and services worldwide.
Full company description
Allianz SE, together with its subsidiaries, provides property-casualty insurance, life/health insurance, and asset management products and services worldwide. The company's Property-Casualty segment offers various insurance products, including motor liability, accident, fire and property, general liability, credit, and travel, and assistance services to private and corporate customers. Its Life/Health segment provides a range of life and health insurance products on an individual and a group basis, such as annuities, endowment and term insurance, and unit-linked and investment-oriented products, as well as private and supplemental health, and long-term care insurance products. The company's Asset Management segment offers institutional and retail asset management products and services to third-party investors comprising equity and fixed income funds, cash, and multi-assets; and alternative investment products that include real estate, infrastructure debt/equity, real assets, liquid alternatives, and solutions business. In addition, it provides banking services for retail clients; and digital investment services. Allianz SE was founded in 1890 and is headquartered in Munich, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Allianz SE VNA O.N. reported revenue of €138B in FY2025 versus €110B in FY2021, a compound +5.7%/yr. Reported net income was €10.8B in FY2025, compounding +13.2%/yr from FY2021.
of which total revenue +2.6 % · buybacks/dilution +1.8 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ALV screens 69% overvalued. Compare with Berkshire Hathaway Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- AA targeted by Germany’s Allianz in £5bn takeover swoop
- Is Allianz (XTRA:ALV) Cheap Or Already Fairly Priced Today?
- Commercial Insurance Global Market Outlook Report, 2026-2031 - Profiles Allianz, AXA, Chubb, Zurich, and 16 Other Companies
- Vistry shares dive as Allianz cuts insurance cover for suppliers
Peer Group
Insurance - Diversified · 83 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Berkshire Hathaway Inc BRKB80 | 1.67 THB | 1.48 THB | −11% |
| Zurich Insurance Group ZURN | CHF 596.00 | CHF 335.07 | −44% |
| AXA SA CS | €43.61 | €39.90 | −9% |
| Assicurazioni Generali S.p.A G | €44.11 | €10.92 | −75% |
| Sun Life Financial Inc SLF | C$108.85 | C$57.05 | −48% |
| American International Group AIG | $76.14 | $80.91 | +6% |
| The Hartford Insurance Group HIG | $137.38 | $133.10 | −3% |
| Arch Capital Group ACGL | $98.76 | $124.45 | +26% |
| Swiss Life Holding SLHN | CHF 919.00 | CHF 425.23 | −54% |
| Sampo Oyj SAMPO | €9.68 | €6.06 | −37% |
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