Swiss Re AG (SREN) fair value: what the stock is really worth
As of Oct 12, 2026: fair value of Swiss Re AG CHF 112, price CHF 145, upside -22.8%, quality 52 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 9, 2026.
How to read this chart
60‑month range CHF 56.20 – CHF 147.41 · fair‑value band CHF 92.63 – CHF 164.95 · the CHF 144.95 price screens above the CHF 111.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 9, 2026.
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Swiss Re AG, together with its subsidiaries, provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide. The company operates through Property & Casualty Reinsurance, Life & Health Reinsurance, and Corporate Solutions segments.
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Swiss Re AG, together with its subsidiaries, provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide. The company operates through Property & Casualty Reinsurance, Life & Health Reinsurance, and Corporate Solutions segments. The Property & Casualty Reinsurance segment underwrites property reinsurance, including property, credit, surety and political, engineering and project, aviation, marine, agriculture, renewable energy, retakaful, and facultative reinsurance solutions; and casualty reinsurance, such as liability, motor, worker's compensation, personal accident, management and professional liability, cyber, and facultative reinsurance solutions. Its Life & Health Reinsurance segment underwrites life and health insurance products. The Corporate Solutions segment offers standard risk transfer covers and multi-line programs to customized solutions. It serves stock and mutual insurance companies, public sector and governmental entities, mid-sized and large corporations, and individuals. The company was founded in 1863 and is headquartered in Zurich, Switzerland.
Stock analysis
Swiss Re AG (SREN) currently trades at CHF 144.95, while our model-based Fair Value estimate is CHF 111.92, 22.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of CHF 104.13 per share, and 1 of the 6 models we run sit above the CHF 144.95 price.
Bear case: the Asset-Based group reads lowest at CHF 46.66, and 5 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: CHF 92.63 (bear) to CHF 164.95 (bull), the price of CHF 144.95 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 52/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Swiss Re AG reported revenue of $50.2B in FY2025 versus $45.9B in FY2021, a compound +2.3%/yr. Reported net income was $5.0B in FY2025, compounding +36.3%/yr from FY2021.
Key figures
Market cap CHF 43.3B · P/E ratio 11.5 · P/S ratio 1.14 · EPS (TTM) CHF 12.58 · Net margin 9.9% · Return on equity 19.5% · Return on assets (EBIT) 8.8% · Operating margin 20.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 20% fair-value upside, at −23%, SREN screens richer than that median.
Fair Value models
Bear CHF 92.63Fair Value CHF 111.92Bull CHF 164.95
Price CHF 144.95 · Upside -22.8%
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 (CHF 9.86 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.69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.4%
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.
+2.9%
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.
+2.8%
Start year 2020 (pandemic). Over 10 years: +3.5% a year
Revenue growth 20 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.
+2.8%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+41.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+41.4%
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.36.2% vs 2.9%, picking up
Profit margin 2020 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.−2% → 13%
2025 sits 65% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
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).
+3.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.7% a year for the price and −4.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (78 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The reinsurance business gains from emerging demand in AI data centers and renewables yet shows only limited evidence of durable competitive strengths in a crowded field.
Main risk: Concentrated high-value assets in AI and energy projects could create larger risk accumulations that pressure reinsurance capital and margins.
Swiss Re sees fresh demand from the boom in AI data centers and renewable energy projects, which its Institute estimates could generate around 200 billion dollars in new commercial insurance premiums by 2030. At the same time these concentrated, high-value assets create larger potential accumulations that reinsurance must absorb. Our models currently see the shares as overvalued. Will the added premium volume from these complex risks more than offset the extra volatility they bring?
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 - Reinsurance · 25 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−22.8% · Below median
Profitability
Return on equity (TTM)19.5% · Above median
Return on assets3.2% · Top 25%
Net margin (TTM)11.8% · Above median
Operating margin (TTM)20.1% · Above median
Growth and dividend
Revenue growth−2.0% · Below median
Dividend yield (TTM)4.3% · Below median
Balance sheet
Debt / equity0.35× · Above median
Valuation Multiplesvs Insurance - Reinsurance 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). "Swiss Re AG Fair Value". https://www.fairvalue-calculator.com/stock/SREN
Frequently asked questions
Is Swiss Re AG (SREN) overvalued or undervalued?
As of Oct 9, 2026, our model estimates a fair value of CHF 111.92 versus a price of CHF 144.95, about −23% upside (overvalued).
What is the fair value of SREN?
Our model-based fair value for Swiss Re AG is CHF 111.92 (as of Oct 9, 2026), built from audited fundamentals. The current price: CHF 144.95.
What is the quality score of SREN?
Swiss Re AG has a Quality Score of 52/100. 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 Swiss Re AG (SREN)?
Our model-based price target is the fair value of CHF 111.92 (as of Oct 9, 2026) from 6 valuation models. Cautious scenario CHF 92.63, optimistic scenario CHF 164.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Swiss Re AG stock forecast for 2026?
Our models put fair value at CHF 111.92, about −23% upside versus a price of CHF 144.95 (overvalued). Cautious scenario CHF 92.63, optimistic scenario CHF 164.95. The calculation is refreshed regularly with new filings.
What is the revenue of Swiss Re AG (SREN)?
Swiss Re AG reported trailing-twelve-month revenue of about $42.4B (latest available figure, as of Oct 9, 2026).
What growth is priced into Swiss Re AG (SREN)?
For today's price to be fair in a discounted-cash-flow model, Swiss Re AG would have to grow free cash flow by +3.1 % per year for five years (discount rate 7.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.8 % per year. As of Oct 9, 2026.
What discount rate (WACC) does the fair value of SREN use?
Our models discount Swiss Re AG at 7.9 %: a base by market capitalisation (large), damped by beta 0.34, country premium for Switzerland. 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 Swiss Re AG that is +3.1 % per year a year over ten years, using the same discount rate (7.9 %) and the same formula as our fair value.
How much growth has Swiss Re AG (SREN) delivered so far?
Over the past 5 years revenue at Swiss Re AG grew +2.8 % a year. The price currently implies +3.1 % 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 Swiss Re AG (SREN) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Swiss Re AG (+3.1 % 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 Swiss Re AG (SREN)?
The free-cash-flow yield on the price is 6.09 %: that much free cash flow Swiss Re AG produces per unit of market value. When it exceeds the discount rate of our models (7.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Swiss Re AG (SREN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Swiss Re AG it is CHF 111.92 per share (as of Oct 9, 2026), against a price of CHF 144.95. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Swiss Re AG stock overvalued or undervalued in 2026?
As of Oct 9, 2026, SREN trades above its calculated fair value: price CHF 144.95, fair value CHF 111.92, a gap of about −23% (overvalued). 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 SREN?
No. The price is what the market pays today (CHF 144.95); the fair value is what the company's own numbers justify (CHF 111.92). For Swiss Re AG the two are CHF 33.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is Swiss Re AG worth?
The market values Swiss Re AG at about CHF 43.3B (market capitalisation, as of Oct 9, 2026). Per share that is CHF 144.95; our models calculate a fair value of CHF 111.92 per share.
What do the bullish and bearish scenarios say about SREN?
Our models span a range for Swiss Re AG: cautious scenario CHF 92.63, base CHF 111.92, optimistic CHF 164.95 per share (as of Oct 9, 2026, price CHF 144.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SREN?
Swiss Re AG trades at a price-to-earnings ratio of 11.5 (as of Oct 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 111.92 is built from several models across several years. Other multiples: PEG 0.8, P/B 2.1, P/S 1.2, EV/EBITDA 8.4.
What is the PEG ratio of SREN?
The PEG ratio of Swiss Re AG is 0.80 (P/E divided by earnings growth, as of Oct 9, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Swiss Re AG (SREN)?
Balance-sheet figures for Swiss Re AG (as of Oct 9, 2026): return on equity 19.5%, debt of 0.35 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is SREN from its 52-week high?
Swiss Re AG trades at CHF 144.95, about 1% below its 52-week high of CHF 146.60 and 27% above the low of CHF 114.45 (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 111.92 is for.
Which stocks are comparable to Swiss Re AG?
From the same area (Financial Services) we also value MUV2, Hannover Rück SE, Reinsurance Group, Everest Group, 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 Swiss Re AG stock attractive at the current price?
The data as of Oct 9, 2026: price CHF 144.95, calculated fair value CHF 111.92 (−23%), Quality Score 52/100, 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 SREN calculated?
We run Swiss Re AG 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 CHF 111.92, 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. Swiss Re AG itself currently trades above fair value. 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 Swiss Re AG (SREN)?
The closing price on Oct 12, 2026 was CHF 144.95. Our model-based fair value is CHF 111.92, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Swiss Re AG right now?
Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Swiss Re AG (SREN) come from?
Earnings per share at Swiss Re AG grew −0.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.7 %, EBIT margin +14.0 %, tax rate −0.9 %, residual (interest, one-offs) −13.8 %. 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 Swiss Re AG
How large is the market capitalisation of Swiss Re AG (SREN)?
The market capitalisation of Swiss Re AG is CHF 43.3B. 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 Swiss Re AG (SREN)?
The price-to-sales ratio of Swiss Re AG is 1.14 (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 Swiss Re AG (SREN)?
Earnings per share at Swiss Re AG are CHF 12.58 (price ÷ EPS = P/E 11.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Swiss Re AG (SREN)?
The net margin of Swiss Re AG is 9.9% (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 Swiss Re AG (SREN)?
The return on equity (ROE) of Swiss Re AG is 19.5% (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 Swiss Re AG (SREN)?
On an EBIT basis the return on assets of Swiss Re AG is 8.8% (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 Swiss Re AG (SREN)?
The operating margin of Swiss Re AG is 20.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Swiss Re AG (SREN)?
Revenue at Swiss Re AG is growing −2.0% versus a year earlier (3y avg +2.9%). 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 Swiss Re AG (SREN)?
Earnings per share at Swiss Re AG are growing +18.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Swiss Re AG (SREN) carry?
The net debt of Swiss Re AG is $6.2B (fiscal year 2025, ≈ 2.0 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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