Ecclesiastical Insurance Office plc (ELLA) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Ecclesiastical Insurance Office plc £1.68, price £1.27, upside +32.3%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range £0.9458 – £1.48 · fair‑value band £1.26 – £2.10 · the £1.27 price screens below the £1.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Ecclesiastical Insurance Office plc provides non-life insurance and reinsurance to individuals and corporate customers in the United Kingdom, Ireland, Australia, and Canada. The company offers property, liability, and miscellaneous financial loss insurance; and life insurance. It serves its products through insurance brokers.
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Ecclesiastical Insurance Office plc provides non-life insurance and reinsurance to individuals and corporate customers in the United Kingdom, Ireland, Australia, and Canada. The company offers property, liability, and miscellaneous financial loss insurance; and life insurance. It serves its products through insurance brokers. The company was incorporated in 1887 and is based in Gloucester, United Kingdom. Ecclesiastical Insurance Office plc operates as a subsidiary of Benefact Group plc.
Stock analysis
Ecclesiastical Insurance Office plc (ELLA) currently trades at £1.27, while our model-based Fair Value estimate is £1.68, implying the stock looks roughly 24.4% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of £2.65 per share, and 5 of the 6 models we run sit above the £1.27 price.
Bear case: the Asset-Based group reads lowest at £1.09, and 1 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: £1.26 (bear) to £2.10 (bull), the price of £1.27 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 55/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ecclesiastical Insurance Office plc reported revenue of 772M GBX in FY2024 versus 375M GBX in FY2020, a compound +19.8%/yr. Reported net income was 47.1M GBX in FY2024.
Key figures
Market cap 502M GBX · P/E ratio 0.1 · EPS (TTM) £14.30 · Net margin 6.1% · Return on equity 10.7% · Return on assets (EBIT) 2.3% · Operating margin 14.1% · Revenue (TTM) £758M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 32%, ELLA screens cheaper than that median.
Fair Value models
Bear £1.26Fair Value £1.68Bull £2.10
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 2024 figures (about 12 months old). Earnings retained since then (£14.30 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.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.0%
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.
+22.9%
Revenue growth 5 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.
+22.5%
Revenue growth 16 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.
+7.4%
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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.
+16.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.5% vs −18.2%, picking up
Profit margin 2018 to 2024 ⓘ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.−3% → 10%
⚠ Revenue per share shrinking 15.4%/yr over ~11Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Ecclesiastical Insurance Office plc with another stock
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 - Life · 88 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+32.3% · Above median
Profitability
Return on equity (TTM)10.7% · Below median
Return on assets3.9% · Top 25%
Net margin (TTM)8.8% · Below median
Operating margin (TTM)14.1% · Below median
Growth and dividend
Revenue growth2.6% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Insurance - Life median · lower = cheaper
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Is Ecclesiastical Insurance Office plc (ELLA) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of £1.68 versus a price of £1.27, about +32% upside (undervalued).
What is the fair value of ELLA?
Our model-based fair value for Ecclesiastical Insurance Office plc is £1.68 (as of Sep 27, 2026), built from audited fundamentals. The current price: £1.27.
What is the quality score of ELLA?
Ecclesiastical Insurance Office plc has a Quality Score of 55/100. 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 Ecclesiastical Insurance Office plc (ELLA)?
Our model-based price target is the fair value of £1.68 (as of Sep 27, 2026) from 6 valuation models. Cautious scenario £1.26, optimistic scenario £2.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Ecclesiastical Insurance Office plc stock forecast for 2026?
Our models put fair value at £1.68, about +32% upside versus a price of £1.27 (undervalued). Cautious scenario £1.26, optimistic scenario £2.10. The calculation is refreshed regularly with new filings.
What is the revenue of Ecclesiastical Insurance Office plc (ELLA)?
Ecclesiastical Insurance Office plc reported trailing-twelve-month revenue of about £758M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Ecclesiastical Insurance Office plc (ELLA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ecclesiastical Insurance Office plc it is £1.68 per share (as of Sep 27, 2026), against a price of £1.27. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Ecclesiastical Insurance Office plc stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ELLA trades below its calculated fair value: price £1.27, fair value £1.68, a gap of about +32% (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 ELLA?
No. The price is what the market pays today (£1.27); the fair value is what the company's own numbers justify (£1.68). For Ecclesiastical Insurance Office plc the two are £0.4100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ecclesiastical Insurance Office plc worth?
The market values Ecclesiastical Insurance Office plc at about 502M GBX (market capitalisation, as of Sep 27, 2026). Per share that is £1.27; our models calculate a fair value of £1.68 per share.
What do the bullish and bearish scenarios say about ELLA?
Our models span a range for Ecclesiastical Insurance Office plc: cautious scenario £1.26, base £1.68, optimistic £2.10 per share (as of Sep 27, 2026, price £1.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ELLA?
Ecclesiastical Insurance Office plc trades at a price-to-earnings ratio of 0.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £1.68 is built from several models across several years.
How solid is the balance sheet of Ecclesiastical Insurance Office plc (ELLA)?
Balance-sheet figures for Ecclesiastical Insurance Office plc (as of Sep 27, 2026): return on equity 10.7%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is ELLA from its 52-week high?
Ecclesiastical Insurance Office plc trades at £1.27, about 14% below its 52-week high of £1.48 and 1% above the low of £1.26 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of £1.68 is for.
Which stocks are comparable to Ecclesiastical Insurance Office plc?
From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) Company, AIA Group, Manulife Financial Corporation, 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 Ecclesiastical Insurance Office plc stock attractive at the current price?
The data as of Sep 27, 2026: price £1.27, calculated fair value £1.68 (+32%), Quality Score 55/100, 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 ELLA calculated?
We run Ecclesiastical Insurance Office plc 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 £1.68, 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 14.5 % above its aggregate fair value. Ecclesiastical Insurance Office plc currently trades 24 % 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 Ecclesiastical Insurance Office plc (ELLA)?
The closing price on Oct 2, 2026 was £1.27. Our model-based fair value is £1.68, about +32% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ecclesiastical Insurance Office plc right now?
Solid quality (55/100) 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.
Where does the earnings growth of Ecclesiastical Insurance Office plc (ELLA) come from?
Earnings per share at Ecclesiastical Insurance Office plc grew −13.9 % a year from 2013 to 2024. Broken into its drivers: revenue per share −3.7 %, EBIT margin −5.4 %, tax rate −2.2 %, residual (interest, one-offs) −3.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ecclesiastical Insurance Office plc
How large is the market capitalisation of Ecclesiastical Insurance Office plc (ELLA)?
The market capitalisation of Ecclesiastical Insurance Office plc is 502M GBX. 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 are the earnings per share of Ecclesiastical Insurance Office plc (ELLA)?
Earnings per share at Ecclesiastical Insurance Office plc are £14.30 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ecclesiastical Insurance Office plc (ELLA)?
The net margin of Ecclesiastical Insurance Office plc is 6.1% (fiscal year 2024). 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 Ecclesiastical Insurance Office plc (ELLA)?
The return on equity (ROE) of Ecclesiastical Insurance Office plc is 10.7% (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 Ecclesiastical Insurance Office plc (ELLA)?
On an EBIT basis the return on assets of Ecclesiastical Insurance Office plc is 2.3% (avg 5y). 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 Ecclesiastical Insurance Office plc (ELLA)?
The operating margin of Ecclesiastical Insurance Office plc is 14.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ecclesiastical Insurance Office plc (ELLA)?
Revenue at Ecclesiastical Insurance Office plc is growing +2.6% versus a year earlier (3y avg +22.9%). 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 Ecclesiastical Insurance Office plc (ELLA)?
Earnings per share at Ecclesiastical Insurance Office plc are growing −30.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ecclesiastical Insurance Office plc (ELLA) generate?
The free cash flow of Ecclesiastical Insurance Office plc is 63.0M GBX (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Ecclesiastical Insurance Office plc (ELLA) hold?
Ecclesiastical Insurance Office plc holds more cash than debt, 78.6M GBX net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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