Fact based stock research
Ageas (ENXTBR:AGS)

BE0974264930

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Ageas stock research in summary

ageas.com

ANALYSIS: With an Obermatt Combined Rank of 94 (better than 94% compared with investment alternatives), Ageas (Multi-line Insurance, Belgium) shares have much better financial characteristics than comparable stocks. Shares of Ageas are a good value (attractively priced) with a consolidated Value Rank of 93 (better than 93% of alternatives), are safely financed (Safety Rank of 87, which means low debt burdens), but show below-average growth (Growth Rank of 45). ...read more

RECOMMENDATION: A Combined Rank of 94, is a strong buy recommendation based on Ageas's financial characteristics. As the company Ageas's key financial metrics exhibit good value (Obermatt Value Rank of 93) but low growth (Obermatt Growth Rank of 45) while being safely financed (Obermatt Safety Rank of 87), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 93% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	93
Growth Rank	45
Safety Rank	87
Combined Rank	94

Country	Belgium
Industry	Multi-line Insurance
Index	BEL20
Size class	Medium

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Ageas

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	83	89	83	93
GROWTH
GROWTH	9	33	79	45
SAFETY
SAFETY	87	87	87	87
SENTIMENT
SENTIMENT	29	33	43	^new
360° VIEW
360° VIEW	27	21	21	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Ageas is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	83	89	83	93
GROWTH
GROWTH	9	33	79	45
SAFETY
SAFETY	87	87	87	87
COMBINED
COMBINED	94	94	94	94

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of Ageas the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 93 (better than 93% compared with alternatives) for 2022, Ageas shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Ageas. Price-to-Sales is 74 which means that the stock price compared with what market professionals expect for future sales is lower than for 74% of comparable companies, indicating a good value for Ageas's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 90% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 72. Compared with other companies in the same industry, dividend yields of Ageas are expected to be higher than for 77% of all competitors (a Dividend Yield rank of 77). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 93, is a buy recommendation based on Ageas's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Ageas based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	59	61	70	74
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	73	87	87	90
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	84	79	76	72
DIVIDEND YIELD
DIVIDEND YIELD	73	88	75	77
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	83	89	83	93

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Ageas; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 45 (better than 45% compared with alternatives), Ageas shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Ageas. Profit Growth has a rank of 75, which means that currently professionals expect the company to grow its profits more than 75% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 77 (above 77% of alternative investments). But Sales Growth has a below the median rank of 12, which means that, currently, professionals expect the company to grow less than 88% of its competitors, and Capital Growth also has a lower rank of 43. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 45, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Ageas. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	27	51	59	12
PROFIT GROWTH
PROFIT GROWTH	13	57	79	75
CAPITAL GROWTH
CAPITAL GROWTH	53	17	48	43
STOCK RETURNS
STOCK RETURNS	29	35	71	77
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	9	33	79	45

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Ageas.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 87 (better than 87% compared with alternatives) for 2022, the company Ageas has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Ageas is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Ageas and the other two below average. Refinancing is at 62, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 62% of its competitors. But Leverage is high with a rank of 47, meaning the company has an above-average debt-to-equity ratio. It has more debt than 53% of its competitors. Liquidity is also on the riskier side with a rank of 45, meaning the company generates less profit to service its debt than 55% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 87 (better than 87% compared with alternatives), Ageas has a financing structure that is significantly safer than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Ageas are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Ageas and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	60	42	53	47
REFINANCING
REFINANCING	62	62	62	62
LIQUIDITY
LIQUIDITY	53	46	37	45
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	87	87	87	87

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Ageas and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	20	39	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	87	18	^new
PRO HOLDINGS
PRO HOLDINGS	73	61	49	^new
MARKET PULSE
MARKET PULSE	36	1	87	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	29	33	43	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Ageas.
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