Aegon Ltd. (A1EG34) fair value: what the stock is really worth
As of Oct 9, 2026: fair value of Aegon Ltd. BRL 50.24, price BRL 40.96, upside +22.7%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range R$15.89 – R$49.40 · fair‑value band R$37.68 – R$62.80 · the R$40.96 price screens below the R$50.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Aegon Ltd. provides insurance services in the Americas, the Netherlands, the United Kingdom, and internationally. It offers retirement plans, mutual funds, and unit-linked products; and annuities, life, and health insurance. The company provides its products under the Transamerica and World Financial Group brands. Aegon Ltd.
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Aegon Ltd. provides insurance services in the Americas, the Netherlands, the United Kingdom, and internationally. It offers retirement plans, mutual funds, and unit-linked products; and annuities, life, and health insurance. The company provides its products under the Transamerica and World Financial Group brands. Aegon Ltd. was founded in 1844 and is based in Schiphol, the Netherlands.
Stock analysis
Aegon Ltd. (A1EG34) currently trades at R$40.96, while our model-based Fair Value estimate is R$50.24, implying the stock looks roughly 18.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of R$48.08 per share, and 2 of the 6 models we run sit above the R$40.96 price.
Bear case: the Dividend Discount group reads lowest at R$22.67, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$37.68 (bear) to R$62.80 (bull), the price of R$40.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Aegon Ltd. reported revenue of €13.1B in FY2025 versus €42.5B in FY2021, a compound −25.5%/yr. Reported net income was €977M in FY2025, compounding −16.2%/yr from FY2021.
Key figures
Market cap R$66.6B (≈ $13.4B) · P/E ratio 10.6 · P/S ratio 0.79 · EPS (TTM) R$3.84 · Dividend yield 1.0% · Net margin 7.4% · Return on equity 11.1% · Return on assets (EBIT) 0.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −23% fair-value upside, at 23%, A1EG34 screens cheaper than that median.
Fair Value models
Bear R$37.68Fair Value R$50.24Bull R$62.80
Price R$40.96 · Upside +22.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$2.68 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.32/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−1.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.2%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−6.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.7%
Dividend (yield on the price)1.0%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 4%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +18.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Insurance - Diversified · 81 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+22.7% · Top 25%
Profitability
Return on equity (TTM)11.1% · Below median
Return on assets0.1% · Bottom 25%
Net margin (TTM)8.6% · Below median
Operating margin (TTM)5.8% · Below median
Growth and dividend
Revenue growth−8.2% · Bottom 25%
Dividend yield (TTM)1.0% · Bottom 25%
Balance sheet
Debt / equity0.38× · Above median
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Aegon Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/A1EG34
Frequently asked questions
Is Aegon Ltd. (A1EG34) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of R$50.24 versus a price of R$40.96, about +23% upside (undervalued).
What is the fair value of A1EG34?
Our model-based fair value for Aegon Ltd. is R$50.24 (as of Oct 2, 2026), built from audited fundamentals. The current price: R$40.96.
What is the quality score of A1EG34?
Aegon Ltd. has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Aegon Ltd. (A1EG34)?
Our model-based price target is the fair value of R$50.24 (as of Oct 2, 2026) from 6 valuation models. Cautious scenario R$37.68, optimistic scenario R$62.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Aegon Ltd. stock forecast for 2026?
Our models put fair value at R$50.24, about +23% upside versus a price of R$40.96 (undervalued). Cautious scenario R$37.68, optimistic scenario R$62.80. The calculation is refreshed regularly with new filings.
What is the revenue of Aegon Ltd. (A1EG34)?
Aegon Ltd. reported trailing-twelve-month revenue of about €11.7B (latest available figure, as of Oct 2, 2026).
Does Aegon Ltd. pay a dividend?
Aegon Ltd. currently shows a dividend yield of about 1.03% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Aegon Ltd. (A1EG34)?
For today's price to be fair in a discounted-cash-flow model, Aegon Ltd. would have to grow free cash flow by +21.2 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -25.5 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of A1EG34 use?
Our models discount Aegon Ltd. at 11.1 %: a base by market capitalisation (large), damped by beta 0.62, country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Aegon Ltd. that is +21.2 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Aegon Ltd. (A1EG34) delivered so far?
Over the past 4 years revenue at Aegon Ltd. grew -25.5 % a year. The price currently implies +21.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Aegon Ltd. (A1EG34) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into Aegon Ltd. (+21.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aegon Ltd. (A1EG34)?
The free-cash-flow yield on the price is 3.50 %: that much free cash flow Aegon Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aegon Ltd. (A1EG34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aegon Ltd. it is R$50.24 per share (as of Oct 2, 2026), against a price of R$40.96. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Aegon Ltd. stock overvalued or undervalued in 2026?
As of Oct 2, 2026, A1EG34 trades below its calculated fair value: price R$40.96, fair value R$50.24, a gap of about +23% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of A1EG34?
No. The price is what the market pays today (R$40.96); the fair value is what the company's own numbers justify (R$50.24). For Aegon Ltd. the two are R$9.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aegon Ltd. worth?
The market values Aegon Ltd. at about R$66.6B (market capitalisation, as of Oct 2, 2026). Per share that is R$40.96; our models calculate a fair value of R$50.24 per share.
What do the bullish and bearish scenarios say about A1EG34?
Our models span a range for Aegon Ltd.: cautious scenario R$37.68, base R$50.24, optimistic R$62.80 per share (as of Oct 2, 2026, price R$40.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A1EG34?
Aegon Ltd. trades at a price-to-earnings ratio of 10.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$50.24 is built from several models across several years. Other multiples: PEG 14.0, P/B 1.3, P/S 1.0.
What is the PEG ratio of A1EG34?
The PEG ratio of Aegon Ltd. is 14.01 (P/E divided by earnings growth, as of Oct 2, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Aegon Ltd. (A1EG34)?
Balance-sheet figures for Aegon Ltd. (as of Oct 2, 2026): return on equity 11.1%, debt of 0.38 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is A1EG34 from its 52-week high?
Aegon Ltd. trades at R$40.96, about 17% below its 52-week high of R$49.40 and 25% above the low of R$32.80 (as of Oct 9, 2026). Distance from the high says nothing about value: that is what the fair value of R$50.24 is for.
Which stocks are comparable to Aegon Ltd.?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Aegon Ltd. stock attractive at the current price?
The data as of Oct 2, 2026: price R$40.96, calculated fair value R$50.24 (+23%), Quality Score 49/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of A1EG34 calculated?
We run Aegon Ltd. through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$50.24, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.8 % above its aggregate fair value. Aegon Ltd. currently trades 18 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Aegon Ltd. (A1EG34)?
The closing price on Oct 9, 2026 was R$40.96. Our model-based fair value is R$50.24, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aegon Ltd. right now?
Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Aegon Ltd.
How large is the market capitalisation of Aegon Ltd. (A1EG34)?
The market capitalisation of Aegon Ltd. is R$66.6B (≈ $13.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Aegon Ltd. (A1EG34)?
The price-to-sales ratio of Aegon Ltd. is 0.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aegon Ltd. (A1EG34)?
Earnings per share at Aegon Ltd. are R$3.84 (price ÷ EPS = P/E 10.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aegon Ltd. (A1EG34)?
The dividend yield of Aegon Ltd. is 1.0% (payout 10.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Aegon Ltd. (A1EG34)?
The net margin of Aegon Ltd. is 7.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Aegon Ltd. (A1EG34)?
The return on equity (ROE) of Aegon Ltd. is 11.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Aegon Ltd. (A1EG34)?
On an EBIT basis the return on assets of Aegon Ltd. is 0.0% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Aegon Ltd. (A1EG34)?
The operating margin of Aegon Ltd. is 5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aegon Ltd. (A1EG34)?
Revenue at Aegon Ltd. is growing −8.2% versus a year earlier (3y avg −3.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Aegon Ltd. (A1EG34)?
Earnings per share at Aegon Ltd. are growing +7.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aegon Ltd. (A1EG34) carry?
The net debt of Aegon Ltd. is €809M (fiscal year 2025, ≈ 2.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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