Legal & General Group PLC (LGEN) Fair Value & Analysis
Financial Services · GB · Market cap 15.9B GBX · ISIN GB0005603997
What is Legal & General Group PLC really worth?
A solid business, but trading 151% above our fair value of £1.18.
Risks
For context
Fair value as of: Sep 1, 2026
From 13 valuation models · updated 4 days ago
Share price −2.7% 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 (£1.71). The favourable scenario is already priced in.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (£0.8900 to £1.71) leaves room in how you read the outcome.
- 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 Sep 1, 2026.
How to read this chart
60‑month range £1.49 – £3.16 · fair‑value band £0.8900 – £1.71 · the £2.96 price screens above the £1.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Legal & General Group PLC (LGEN) currently trades at £2.96, while our model-based Fair Value estimate is £1.18, implying the stock looks roughly 150.6% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of £9.99 per share, and 9 of the 13 models we run sit above the £2.96 price. Bear case: the Asset-Based group reads lowest at £0.2800, and 4 of the 13 models stay below the price. Evidence for this calculation is high.
Revenue grew 13.9% year over year. It earns a return on equity of 17.9%. Net debt stands at £8.0B. The stock trades on a trailing P/E of 37.0. Fundamentals as of Sep 1, 2026
Our scenario range runs from £0.8900 (bear case) to £1.71 (bull case); at £2.96, 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. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −60%, LGEN screens richer than that median.
Fair Value models
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 13 models by family
Widest divergence: Growth DCF (£9.99) versus Asset-Based (£0.2800). Highest evidence: Growth DCF (73).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 72
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
Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates through Institutional Retirement, Asset Management, Insurance, and Retail Retirement segments.
Full company description
Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates through Institutional Retirement, Asset Management, Insurance, and Retail Retirement segments. The Institutional Retirement segment offers annuity contracts with guaranteed income for a specified time; longevity insurance products; and writes assured payment policies (APP). The Asset Management segment provides unit linked institutional pensions, segregated investment management mandates, and collective investment schemes; index fund management; pooled and segregated active fixed income funds; active equity management; solutions for cash management requirements for institutional investors; solutions and liability driven investment; multi-asset funds; private markets strategies for physical real estate, private corporate debts, infrastructure debts, and real estate loans; and direct investment services. The Retail Retirement segment offers protection products, such as health, disability, critical illness, and accident; annuities; lifetime mortgages; lifetime care plans; retirement interest only mortgages; and workplace and retail savings scheme that provides corporate pension scheme solutions. Legal & General Group Plc was founded in 1836 and is headquartered in London, the United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Legal & General Group PLC reported revenue of £54.5B in FY2025 versus £9.3B in FY2021, a compound +55.7%/yr. Reported net income was £498M in FY2025, compounding −29.8%/yr from FY2021.
of which total revenue +12.3 % · buybacks/dilution −0.3 %
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).
LGEN screens 151% overvalued. Compare with Blackstone Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Legal & General Group PLC (LGGNF) (H1 2026) Earnings Call Highlights: Strong EPS Growth and ...
- The Zacks Analyst Blog Highlights Community Healthcare, Legal & General and Annaly Capital
- Legal & General Group Touts £5B Returns, Streamlined Strategy at AGM
- Is Legal & General Group (LSE:LGEN) Share Price Slide Creating A Valuation Opportunity?
Peer Group
Asset Management · 697 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 Asset Management 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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $142.39 | $52.88 | −63% |
| Investor AB INVEB | kr 417.20 | kr 824.66 | +98% |
| Brookfield Corporation BN | C$55.74 | C$10.67 | −81% |
| KKR & Co KKR | $108.68 | $19.97 | −82% |
| Apollo Global Management, Inc APO | $135.04 | $101.04 | −25% |
| State Street Corporation STT | $193.33 | $138.33 | −28% |
| Ameriprise Financial, Inc AMP | $559.32 | $515.24 | −8% |
| Ares Management Corporation ARES | $143.10 | $30.88 | −78% |
| Northern Trust Corporation NTRS | $186.79 | $122.02 | −35% |
| Raymond James Financial, Inc RJF | $181.10 | $142.42 | −21% |
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