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ageas SA (AGS) Fair Value & Analysis

Financial Services · BE · Market cap €13.9B

AS ageas SA AGS · BR
Price€71.05
Fair Value€106.37
Upside+49.7%
Quality68/100
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Evidence: High Range €79.78 – €132.97

Fair value as of: Jun 26, 2026

From 24 valuation models · updated 20 days ago

Share price +5.3% over the past month.

Price vs Fair Value (12 months)

€71.70 €53.41 Fair Value €106.37 Jul 2025 Jul 2026

12‑month range €53.41 – €71.70 · fair‑value band €79.78 – €132.97 · the €71.05 price screens below the €106.37 fair value. As of Jun 26, 2026.

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Analysis

ageas SA (AGS) currently trades at €71.05, while our model-based Fair Value estimate is €106.37, implying the stock looks roughly 49.7% undervalued today. We read business quality at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, ageas SA generated revenue of €9.4B at a net margin of 18.2%. Revenue grew 19.5% year over year. It earns a return on equity of 18.8%. Net debt stands at €4.0B. Fundamentals as of Jun 26, 2026

Our scenario range runs from €79.78 (bear case) to €132.97 (bull case); at €71.05, the current price sits below that range. The share trades near its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 0% fair-value upside, at 50%, AGS screens cheaper than that median.

Key figures & financial health

Revenue (TTM) €9.4B
Revenue growth (YoY) +19.5%
Net margin 18.2%
Return on equity 18.8%
Free cash flow €2.6B FY2025
P/E ratio 7.3
More key figures
Operating margin 11.1%
EPS (TTM) €9.09
Dividend yield 5.6%
EPS growth (YoY) +109%
Net debt €4.0B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

ageas SA/NV, together with its subsidiaries, engages in insurance business. It operates through five segments: Belgium, Europe, Asia, Reinsurance, and General Account. The company provides property, casualty, and life insurance products, as well as pension products; and reinsurance products. It offers life insurance products include risks related to the life, and death of individuals; and non-life insurance products comprise accident and health, motor, and fire insurance products, as well as insurance services for other damages to property; and pension funds. The company serves private individuals, as well as small, medium-sized, and large companies through independent brokers and the bank channels. ageas SA/NV was founded in 1824 and is based in Brussels, Belgium.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ageas SA reported revenue of €9.0B in FY2025 versus €12.9B in FY2021, a compound −8.5%/yr. Reported net income was €1.7B in FY2025, compounding +19.3%/yr from FY2021.

Revenue −8.5%/yr
FY21 €12.9B
FY22 €4.9B
FY23 €7.9B
FY24 €8.5B
FY25 €9.0B
Net income +19.3%/yr
FY21 €845M
FY22 €1.1B
FY23 €953M
FY24 €1.1B
FY25 €1.7B

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Cite: Fair Value Calculator (2026). "ageas SA Fair Value". https://www.fairvalue-calculator.com/stock/AGS

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection, not financial advice.

Similar stocks

10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
Berkshire Hathaway Inc BRYN €442.20 €440.52 -0%
Allianz SE ALV €406.60 €468.26 +15%
Zurich Insurance Group ZURVY $36.15 $29.58 -18%
AXA SA AXAN 795.49 MXN 999.98 MXN +26%
Assicurazioni Generali S.p.A ARZGY $24.04 $19.38 -19%
Sun Life Financial Inc SLF C$104.47 C$87.84 -16%
American International Group AIG $73.44 $58.77 -20%
The Hartford Insurance Group H1IG34 R$727.00 R$237.89 -67%
Arch Capital Group ACGL $91.31 $179.69 +97%
BB Seguridade Participações S.A BBSE3 R$38.63 R$58.14 +51%

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Frequently asked questions

Is ageas SA (AGS) undervalued?
As of Jun 26, 2026, our model estimates a fair value of €106.37 versus a price of €71.05, about +50% (undervalued). Model-based estimate, not financial advice.
What is the fair value of AGS?
Our model-based fair value for ageas SA is €106.37 (as of Jun 26, 2026), built from audited fundamentals. The current price is €71.05.
What is the quality score of AGS?
ageas SA has a Quality Score of 68/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of ageas SA (AGS)?
ageas SA reported trailing-twelve-month revenue of about €9.4B (latest available figure, as of Jun 26, 2026).
What is the net profit margin of AGS?
The net profit margin of ageas SA is about 18.2%, meaning it keeps roughly 18.2% of revenue as net income. Based on the latest reported figures.
Does ageas SA pay a dividend?
ageas SA currently shows a dividend yield of about 5.62% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.