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⚠️ Not investment advice. Past performance does not guarantee future results.
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Ageas AGS.BR

Belgium Financial Services
7.1/10
AI Analyst score
74.65 EUR
Last price at analysis date · analyst target 73.17 (-2.0%)
🛒 Where to buy AGS.BRPartner brokers · Belgium · sample 200.00 € orderBelgium
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🟡 HOLD — Hold or accumulate on dips; the combination of valuation and growth is attractive, but monitor the evolution of Asian markets and the execution of the Elevate27 plan.

Ageas is a diversified Belgian insurer operating in life and non-life insurance in Europe and Asia, with a strong presence in Belgium, the UK, continental Europe, and Asian markets such as India and China. Ageas combines an attractive valuation (P/E 7.68, P/B adjusted by ROE 0.77) with solid growth (revenue +27.5%) and a net dividend yield of 5.12%, supported by an ROE of 19.75%.

Financial health
6.0
Quality / Moat
5.2
Valuation
7.8
Growth
8.0
Dividend
8.6
Momentum
8.2
Risk & Context
7.7

Detailed metrics

Market and fundamental data as of the analysis date.

💵 Valuation
P/E7.68
Fwd P/E8.69
EV/EBITDA-1.22
P/B1.53
P/S1.47
PEG6.39
Market cap15.62 B EUR
Enterprise value-1.51 B EUR
🏰 Quality and moat
ROIC (approx.)3.7%
Gross margin27.24%
FCF conversion-176%
Operating margin6.75%
📈 Profitability and margins
ROE19.75%
ROA0.56%
Net margin17.67%
FCF-2.19 B EUR
FCF yield-14.02%
🏦 Solvency and liquidity
Total debt9.01 B EUR
Net debt-18.37 B EUR
Cash27.38 B EUR
EBITDA1.25 B EUR
Net debt / EBITDA-14.75
D/E78.34
Current ratio6.02
Quick ratio5.16
🚀 Growth
Revenue growth27.50%
Earnings growth17.30%
EPS (TTM)9.72 EUR
EPS (Fwd)8.59 EUR
💰 Dividend and risk
Dividend yield6.03%
Payout38.6%
Beta0.54
Analyst consensusHold (11)
Target price73.17 EUR
52-week range55.85 EUR – 77.05 EUR
⚠️ Main risk: Exposure to Asian markets (India, China) carries regulatory and governance risks that could affect future profitability, despite geographic diversification.
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Full AI report

Generated automatically from the metrics, the macro context and the company's news.

Ageas is a diversified Belgian insurer operating in life and non-life insurance in Europe and Asia, with a strong presence in Belgium, the UK, continental Europe, and Asian markets such as India and China. Ageas combines an attractive valuation (P/E 7.68, P/B adjusted by ROE 0.77) with solid growth (revenue +27.5%) and a net dividend yield of 5.12%, supported by an ROE of 19.75%.

Score by category

CategoryScore
Financial health6.0
Quality / Moat5.2
Valuation7.8
Growth8.0
Dividend8.6
Momentum8.2
Risk & Context7.7

OVERALL SCORE: 7.1/10

Context and risks

Moderate governance/regulatory risk in Belgium. Exposure to Asian markets (India, China) adds jurisdictional risk, but it is diversified and not dominant.

News considered in the analysis

  • Ageas pursues top ten ranking in Indian insurance space – report — La expansión en India, un mercado de alto crecimiento, refuerza la tesis de crecimiento a largo plazo, aunque es una ambición estratégica sin impacto inmediato en beneficios.
  • Ageas 2025 Report Links Elevate27 Progress With Capital Flexibility Moves — El progreso del plan Elevate27 y la flexibilidad de capital son señales positivas de gestión, ya reflejadas parcialmente en el precio.
  • Assessing Ageas (ENXTBR:AGS) Valuation After Recent Share Price Momentum And Conflicting Fair Value Signals — Análisis de valoración sin información nueva; el momentum ya está capturado en la nota cuantitativa.
  • New Strong Sell Stocks for August 5th — Listículo genérico sin información específica sobre Ageas.
  • European Dividend Stocks To Consider In May 2026 — Listículo sin información nueva.

Verdict: Hold or accumulate on dips; the combination of valuation and growth is attractive, but monitor the evolution of Asian markets and the execution of the Elevate27 plan.

Main risk: Exposure to Asian markets (India, China) carries regulatory and governance risks that could affect future profitability, despite geographic diversification.

Other Financial Services companies

Neighbours in the sector ranking, to compare without going back to the index.

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Automatically generated analysis from fundamental, market and news data. Not personalised financial advice — a research tool, not an individual recommendation. Past performance does not guarantee future results. Last update of this analysis: 2026-09-28. Legal notice, privacy & cookies.