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Vienna Insurance Group (VIG) Fair Value & Analysis

Financial Services · AT · Market cap €8.3B

VI Vienna Insurance Group VIG · VI
Price€73.30
Fair Value€84.79
Upside+15.7%
Quality59/100
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Healthy Growth
Thin margins · 6.1% net margin
Low debt · generates free cash flow
2.67% dividend yield
Ranks above peers (11/15)
Moderate moat 46/100
Evidence: High Range €63.59 – €105.99 Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 22 days ago

Share price +11.4% over the past month.

A solid business, screening 16% undervalued on our models.

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.
  • Our model range runs from €63.59 (bear) to €105.99 (bull), base €84.79. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€73.30 €16.67 Fair Value €84.79 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range €16.67 – €73.30 · fair‑value band €63.59 – €105.99 · the €73.30 price screens below the €84.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Vienna Insurance Group (VIG) currently trades at €73.30, while our model-based Fair Value estimate is €84.79, implying the stock looks roughly 15.7% undervalued today. We read business quality at 59/100 (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, Vienna Insurance Group generated revenue of €13.8B at a net margin of 6.1%. Revenue grew 8.3% year over year. It earns a return on equity of 12.4%. Net debt stands at €225M. Fundamentals as of Jul 16, 2026

Our scenario range runs from €63.59 (bear case) to €105.99 (bull case); at €73.30, 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 87% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 16%, VIG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €38.45 €55.92 €79.62 80
Residual Income €50.62 €58.25 €105.14 76
Rev-Margin DCF €44.85 €73.66 €106.12 74
All 24 models by family
DCF Models
FCF DCF €37.79 €57.42 €85.69 38
Owner Earnings €54.49 €82.43 €122.64 31
5Y Revenue Exit €44.85 €73.71 €110.34 39
5Y EBITDA Exit €53.78 €90.19 €132.31 41
5Y P/E Exit €67.64 €115.80 €165.92 38
10Y Revenue Exit €40.24 €65.44 €98.80 36
10Y EBITDA Exit €47.31 €76.56 €115.01 37
10Y P/E Exit €55.91 €93.83 €139.80 35
Earnings-Based
Graham-Dodd €44.35 €129.72 €171.42 54
Lynch FV €27.03 €38.61 €50.20 50
PEG = 1.0 €27.03 €38.61 €50.20 46
EPV €44.66 €52.00 €58.32 59
Multiples
P/E Multiple €97.84 €130.45 €163.06 63
P/S Multiple €83.16 €110.88 €138.60 58
P/B Multiple €83.16 €110.88 €138.60 55
EV/EBIT €77.53 €103.96 €130.39 53
EV/EBITDA €71.40 €95.78 €120.17 54
EV/Revenue €51.69 €74.59 €97.50 43
Asset-Based
NCAV (Graham) €28.01 €37.53 €56.02 50
Growth DCF
Growth DCF €38.45 €55.92 €79.62 80
Rev-Margin DCF €44.85 €73.66 €106.12 74
Economic Profit
Residual Income €50.62 €58.25 €105.14 76
ROIC Compounder €44.66 €52.00 €60.50 72
Growth Earnings
Growth-Adj P/E €79.60 €113.71 €147.82 68

Widest divergence: Growth Earnings (€113.71) versus Asset-Based (€37.53). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €13.8B
Revenue growth (YoY) +8.3%
Net margin 6.1%
Return on equity 12.4%
Free cash flow €476M FY2025
P/E ratio 10.0
More key figures
Operating margin 11.5%
EPS (TTM) €6.46
Dividend yield 2.7%
EPS growth (YoY) +63.2%
Net debt €225M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 38 · Market factors (momentum, volatility) 81

Profitability 24
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Vienna Insurance Group AG, together with its subsidiaries, engages in providing insurance products and services in Austria and internationally.

Full company description

Vienna Insurance Group AG, together with its subsidiaries, engages in providing insurance products and services in Austria and internationally. The company provides life; health; and property and casualty insurance products, such as medical expense, income protection, worker's compensation, motor vehicle liability, motor own damage, other motor, marine, aviation, transport, fire and other damage to property, general liability, credit and suretyship, legal expenses, assistance, and miscellaneous financial losses insurance. It offers reinsurance products and services, such as Issued and held Treaty reinsurance. It sells its products through direct sales, banks, brokers, and agents. The company was founded in 1824 and is based in Vienna, Austria. Vienna Insurance Group AG is a subsidiary of Wiener Städtische Wechselseitige Versicherungsverein - Vermögensverwaltung - Vienna Insurance Group.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vienna Insurance Group reported revenue of €14.8B in FY2025 versus €10.9B in FY2021, a compound +7.9%/yr. Reported net income was €835M in FY2025, compounding +22.1%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€14.8B
Latest YoY
+14.3%
Avg. growth/yr (3Y)
+7.0%
Avg. growth/yr (5Y)
+7.1%
Avg. growth/yr (10Y)
+4.7%
Revenue +7.9%/yr
FY21 €10.9B
FY22 €12.1B
FY23 €11.6B
FY24 €12.9B
FY25 €14.8B
Net income +22.1%/yr
FY21 €376M
FY22 €466M
FY23 €559M
FY24 €626M
FY25 €835M

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Cite: Fair Value Calculator (2026). "Vienna Insurance Group Fair Value". https://www.fairvalue-calculator.com/stock/VIG

Peer Group

Insurance - Diversified · 84 stocks

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.

Quality Score 57 · Below median
Fair Value upside +16% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 2% · Below median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 11% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Insurance - Diversified median · lower = cheaper

P/E (TTM) 10.0× · Cheaper than median
P/B 1.33× · Cheaper than median
P/S (TTM) 0.69× · Cheaper than median
P/FCF 20.0× · Pricier than 75% of peers
EV/EBITDA 5.6× · Cheaper than median
PEG 1.21× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 54 · sector 43
FUTURE 42 · sector 31
PAST 49 · sector 49
HEALTH 89 · sector 89
DIVIDEND 53 · sector 45

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Berkshire Hathaway Inc BRKB 8,562 MXN 10,844 MXN +27%
Allianz SE ALV €421.00 €369.31 -12%
Zurich Insurance Group ZURN CHF 624.40 CHF 619.80 -1%
AXA SA AXAN 888.28 MXN 1,249 MXN +41%
Assicurazioni Generali S.p.A G €42.90 €12.18 -72%
Sun Life Financial Inc SLF C$114.20 C$87.83 -23%
BB Seguridade Participações S.A BBSE3 R$40.71 R$60.39 +48%
Tryg A/S TRYG kr 154.00 kr 116.45 -24%
PT Sinar Mas Multiartha Tbk SMMA 20,625 IDR 4,176 IDR -80%
Caixa Seguridade Participações S.A CXSE3 R$21.77 R$18.60 -15%

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Frequently asked questions

Is Vienna Insurance Group (VIG) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €84.79 versus a price of €73.30, about +16% (undervalued).
What is the fair value of VIG?
Our model-based fair value for Vienna Insurance Group is €84.79 (as of Jul 16, 2026), built from audited fundamentals. The current price is €73.30.
What is the quality score of VIG?
Vienna Insurance Group has a Quality Score of 59/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Vienna Insurance Group (VIG)?
Vienna Insurance Group reported trailing-twelve-month revenue of about €13.8B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of VIG?
The net profit margin of Vienna Insurance Group is about 6.1%, meaning it keeps roughly 6.1% of revenue as net income. Based on the latest reported figures.
Does Vienna Insurance Group pay a dividend?
Vienna Insurance Group currently shows a dividend yield of about 2.84% relative to its recent price (as of Jul 16, 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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