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STOCK COMPARISON

Saudi RE Cooperative Reinsurance vs Münchener Rück: Fair Value & Quality

Both stocks run through our valuation models. Here is how Saudi RE Cooperative Reinsurance (8200) and Münchener Rück (MUV2) compare, as of Oct 2, 2026.

As of Oct 2, 2026, Fair Value Calculator sees Münchener Rück as the less overvalued of the two: Saudi RE Cooperative Reinsurance trades at SAR 26.40 versus a fair value of SAR 10.66 (−59.6%), while Münchener Rück trades at €499 versus €399 (−19.9%).
Saudi RE Cooperative Reinsurance
8200.SR · SAR · Financials
−59.6%
upside to fair value
overvalued
PriceSAR 26.40
Fair ValueSAR 10.66
Quality33/100
Münchener Rück
MUV2.XETRA · EUR · Financials
−19.9%
upside to fair value
overvalued
Price€499
Fair Value€399
Quality52/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Saudi RE Cooperative ReinsuranceMünchener Rück
Valuation
29.0×P/E (TTM)9.3×
n/aForward P/E (FY2027)9.7×
2.23×P/S (TTM)1.03×
2.01×P/B1.90×
19.6×EV/EBITDA8.9×
n/aPEG2.03×
−59.6%Fair value upside−19.9%
n/aDividend yield4.8%
n/aDividend per share€24.00
Profitability
14.4%Operating margin17.3%
133.47×EBIT margin trend (5Y)4.77×
7.0%Return on equity21.3%
3.1%Return on assets2.2%
Growth
67.1%Revenue growth (YoY)1.3%
-35.7%Avg. growth/yr (3Y)n/a
-22.2%Avg. growth/yr (5Y)n/a
+10.5%Value creation/yr+24.8%
Balance & size
99.0×Interest coverage (EBIT/interest)23.4×
0.03×Debt / equity0.22×
$1BMarket cap$71B
mixedGrowth qualityexpensive
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Münchener Rück leads: 5 to 7 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Saudi RE Cooperative Reinsuranceof which business quality 36 · market factors 37 Münchener Rückof which business quality 45 · market factors 56
ProfitabilityMargins and returns on capital today
14
39
Quality GrowthAre margins and returns improving?
27
54
CashflowEarnings quality: real cash, not paper profit
50
32
Fin. StrengthBalance sheet, leverage, solvency risk
71
7
InvestmentDisciplined investing over empire-building
42
73
Low VolatilityCalm price path (market factor)
50
95
MomentumPrice trend over the last 3–12 months (market factor)
36
38
52W MomentumDistance to the 52-week high (market factor)
23
41
Net IssuanceShare count: buybacks or dilution?
0
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familySaudi RE Cooperative ReinsurancePrice SAR 26.40Münchener RückPrice €499
Dividend Discountn/a−44.0%below the price€279
Multiples−52.4%below the priceSAR 12.560%close to the price€501
Asset-Based−66.7%below the priceSAR 8.78−64.5%below the price€177
Economic Profit−62.3%below the priceSAR 9.95−25.4%below the price€372
Minimum−66.7%below the priceSAR 8.78−64.5%below the price€177
Maximum−52.4%below the priceSAR 12.560%close to the price€501
Median−62.3%below the priceSAR 9.95−34.7%below the price€326
Geometric mean−60.9%below the priceSAR 10.31−37.9%below the price€310

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Saudi RE Cooperative Reinsurance: 4 of 4 models see the stock below the current price.

Münchener Rück: 5 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Saudi RE Cooperative Reinsurance
Price SAR 26.40
Fair Value SAR 10.66
Bear SAR 8.00Bull SAR 13.32
Münchener Rück
Price €499
Fair Value €399
Bear €328Bull €585

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Saudi RE Cooperative Reinsurance · Financials

Quality score33 · bottom 25%
Fair value upside−59.6% · bottom 25%

Münchener Rück · Financials

Quality score52 · below median
Fair value upside−19.9% · below median

Bottom line

As of Oct 2, 2026, Fair Value Calculator sees Münchener Rück as the less overvalued of the two: Saudi RE Cooperative Reinsurance trades at SAR 26.40 versus a fair value of SAR 10.66 (−59.6%), while Münchener Rück trades at €499 versus €399 (−19.9%).

Münchener Rück has the higher quality score (52/100).

Open Münchener Rück live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.