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Allianz SE (ALZ) Fair Value & Analysis

Financial Services · CA · Market cap C$232B (≈ $168B) · ISIN DE0008404005

What is Allianz SE really worth?

AS Allianz SE ALZ · NEO
Price from Jun 2, 2026C$29.29
Fair ValueC$33.20
Upside+13.4%
Quality62/100

A solid business, trading 12% below our fair value of C$33.20.

As of Aug 13, 2026, the fair value of Allianz SE is C$33.20 per share against a price of C$29.29, so the fair value sits 13% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 3y +19.8 %/yr)
!Thin margins · 9.4% net margin
!Moderate moat 50/100
Evidence: High Range C$24.90 – C$41.50

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 23 days ago

Fair value updated Aug 13, 2026, revised from C$49.50 to C$33.20 (−32.9%) since Jul 25, 2026. Share price +1.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (16 months)

C$29.29 C$22.20 Fair Value C$33.20 Jan 2025 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

16‑month range C$22.20 – C$29.29 · fair‑value band C$24.90 – C$41.50 · the C$29.29 price screens below the C$33.20 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Allianz SE (ALZ) currently trades at C$29.29, while our model-based Fair Value estimate is C$33.20, implying the stock looks roughly 11.8% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of C$23.86 per share, and 1 of the 6 models we run sit above the C$29.29 price. Bear case: the Asset-Based group reads lowest at C$5.47, and 5 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Allianz SE generated revenue of C$109B at a net margin of 9.4%. It earns a return on equity of 18.2%. Net debt stands at C$3.0B. The stock trades on a trailing P/E of 13.0 (as of Jun 18, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from C$24.90 (bear case) to C$41.50 (bull case); at C$29.29, the current price sits within 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 20% 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 13%, ALZ screens cheaper 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.

Model 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. Evidence
Highest evidence
Residual Income best evidence C$9.41 C$11.76 C$30.47 65
Gordon GGM C$8.00 C$17.47 C$29.40 63
DDM Multi-Stage C$8.00 C$13.12 C$18.21 63
All 6 models by family
Dividend Discount
Gordon GGM C$8.00 C$17.47 C$29.40 63
DDM Multi-Stage C$8.00 C$13.12 C$18.21 63
Multiples
P/E Multiple C$23.16 C$30.88 C$38.60 63
P/B Multiple C$17.90 C$23.86 C$29.83 55
Asset-Based
NCAV (Graham) C$4.09 C$5.47 C$8.17 54
Economic Profit
Residual Income best evidence C$9.41 C$11.76 C$30.47 65

Widest divergence: Multiples (C$23.86) versus Asset-Based (C$5.47). Highest evidence: Residual Income (65).

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Key figures & financial health

P/E ratio 13.0 as of Jun 18, 2026
P/S ratio 1.02 P/E × margin
EPS (TTM) C$2.13 price ÷ EPS = P/E 13.0
Net margin 7.8% FY2025
Return on equity 18.2% TTM
Return on assets 1.0% TTM
More key figures
Profitability
Operating margin 11.1% TTM
Growth
Revenue (TTM) C$109B TTM
EPS growth (YoY) +15.5%
Balance sheet & cash flow
Free cash flow C$30.9B FY2025
Net debt C$3.0B FY2025 · ≈ 0.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 56 · Market factors (momentum, volatility) 64

Profitability 32
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 93
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 97
Buybacks instead of dilution

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 Internationally.

Full company description

Allianz SE, together with its subsidiaries, provides property-casualty insurance, life/health insurance, and asset management products and services Internationally. The company's Property-Casualty segment offers various insurance products, including motor liability, accident, fire and property, legal expense, credit, and travel 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, and liquid alternatives. Its Corporate and Other segment provides banking services for retail clients, as well as 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 reported revenue of €137B in FY2025 versus €119B in FY2021, a compound +3.7%/yr. Reported net income was €10.8B in FY2025, compounding +13.0%/yr from FY2021.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$137B
Latest YoY
−1.8%
Avg. revenue growth/yr (3Y) 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.
+19.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+11.8% · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+11.8%
Dividend yield0.0%
Revenue +3.7%/yr
FY21 €119B
FY22 €79.9B
FY23 €120B
FY24 €140B
FY25 €137B
Net income +13.0%/yr
FY21 €6.6B
FY22 €6.4B
FY23 €8.5B
FY24 €9.9B
FY25 €10.8B

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Cite: Fair Value Calculator (2026). "Allianz SE Fair Value". https://www.fairvalue-calculator.com/stock/ALZ.NEO

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 13, 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 €44.64 €39.90 −11%
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 $98.10 $124.45 +27%
Swiss Life Holding SLHN CHF 919.00 CHF 425.23 −54%
Sampo Oyj SAMPO €9.68 €6.06 −37%

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Frequently asked questions

Is Allianz SE (ALZ) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$33.20 versus the last price from Jun 2, 2026 of C$29.29, about +13% upside (undervalued).
What is the fair value of ALZ?
Our model-based fair value for Allianz SE is C$33.20 (as of Aug 13, 2026), built from audited fundamentals. Last price (from Jun 2, 2026): C$29.29.
What is the quality score of ALZ?
Allianz SE has a Quality Score of 62/100. 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 Allianz SE (ALZ)?
Our model-based price target is the fair value of C$33.20 (as of Aug 13, 2026) from 6 valuation models. Cautious scenario C$24.90, optimistic scenario C$41.50. It is a calculation from audited fundamentals, not an analyst target.
What is the Allianz SE stock forecast for 2026?
Our models put fair value at C$33.20, about +13% upside versus the last price from Jun 2, 2026 of C$29.29 (undervalued). Cautious scenario C$24.90, optimistic scenario C$41.50. The calculation is refreshed regularly with new filings.
What is the revenue of Allianz SE (ALZ)?
Allianz SE reported trailing-twelve-month revenue of about C$109B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ALZ?
The net profit margin of Allianz SE is about 9.4%, meaning it keeps roughly 9.4% of revenue as net income. Based on the latest reported figures.
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