Wuestenrot & Wuerttembergische AG WWUEY

FinancialsInsuranceGermany

Last close 8.86 USD on Nov 1, 2026, +5.4% year to date

Quant rating

Quant rating C Rank 172 of 304 in Financials

Growth C 166 of 304
Valuation B 90 of 304
Quality C 203 of 304
Revisions C 199 of 304
Momentum C 149 of 304

Wall Street consensus Buy (1.67)Average target 21.32 USD +140.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.4B
Enterprise value: 10.6B
52-week range: 8.29 – 9.16
3-year range: 6.81 – 9.16
Dividend yield: 4.26%
Beta (5 years): –
Shares outstanding: 93.7M
Next earnings: Nov 12, 2026

About the company

Wuestenrot & Wuerttembergische AG (W&W) is a Germany-based company, which develops and provides the four building blocks of modern pension provision: insurance, home ownership, risk protection and wealth creation. It combines the business areas of living and insurance and offers its customers the pension solution that suits them. The Company relies on omni-channel sales, which range from its own field services to cooperation and partner sales as well as brokerage activities and digital initiatives. It operates exclusively in Germany. In the residential business area, the focus is on the building savings business and building financing through Wuestenrot Bausparkasse AG. There is the property development activity of Wuestenrot Haus- und Staedtebau GmbH and the brokerage of real estate by Wuestenrot Immobilien GmbH. In the insurance business area, it offers its customers a wide range of products from personal and property/casualty insurance.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,263	4,498	4,610	4,143	5,656	–
Revenue growth	17.0%	−2.4%	11.3%	−26.8%	−1.9%	−1.8%
EPS (basic, normalized)	1.48	0.39	1.60	3.00	4.14	–
EPS growth	280.9%	−75.7%	−46.6%	−27.4%	–	–
Gross margin	–	–	–	–	–	–
Net margin	3.6%	1.1%	4.5%	6.9%	5.9%	4.4%
ROE	2.5%	0.7%	2.8%	5.4%	7.1%	3.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	5,263	+17.0%	2.0x	60.50	+8.2%	0.1x	1.48	+280.9%	6.0x
2026	5,587	+6.2%	1.9x	64.61	+6.8%	0.1x	1.90	+28.1%	4.7x
2027	5,811	+4.0%	1.8x	–	–	–	2.20	+15.8%	4.0x
2028	6,052	+4.1%	1.7x	–	–	–	2.77	+25.7%	3.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	5,587	0.0%	−1.5%	−3.2%	1.90	−2.2%	−3.4%	+0.6%
2027	5,811	0.0%	−2.2%	−3.2%	2.20	−0.2%	−3.0%	−12.6%
2028	6,052	0.0%	−2.7%	–	2.77	0.0%	−13.1%	−13.1%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
WWUEY Wuestenrot & Wuerttembergische AG	1.4B	2.5%	3.6%	0.25x	4.7x	4.0x	0.1x	–
UFCS United Fire Group Inc	1.5B	14.1%	8.5%	1.49x	11.4x	11.5x	1.4x	1.3x
TSU Trisura Group Ltd.	1.4B	16.6%	5.0%	1.92x	13.4x	11.8x	1.8x	1.6x
STC Stewart Information Services Corp	1.4B	9.2%	4.0%	0.81x	9.2x	8.1x	0.8x	0.8x
UVE Universal Insurance Holdings Inc	1.3B	38.9%	11.4%	2.08x	7.9x	9.2x	2.0x	1.7x
TRUP Trupanion, Inc.	1.3B	–	1.4%	3.23x	47.7x	42.8x	3.1x	2.8x
Mean		16.2%	5.6%	1.63x	15.7x	14.6x	1.5x	1.6x
Median		14.1%	4.5%	1.71x	10.3x	10.3x	1.6x	1.6x

Technical analysis

1M0.0%
3M−1.7%
1Y+5.4%
3Y+18.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Wuestenrot & Wuerttembergische AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	5,263	4,498	4,610	4,143	5,656	5,766
Other revenue	−1,317	−1,312	−1,180	−487	1,071	941
Total revenue	3,946	3,187	3,430	3,656	6,727	6,707
Losses, benefits and adjustments	4,377	4,167	4,044	3,322	5,854	5,441
Amortization of policy acquisition costs	–	–	–	–	–	–
Selling, general & administrative expenses	740	633	822	789	2,017	2,058
Depreciation/amortization	108	114	91.5	80.9	85.8	94.6
Interest expense (income), operating	−1,702	−1,536	−1,428	−1,180	−1,360	−1,053
Other operating expenses	−487	−457	−427	257	−525	19.1
Operating income	910	266	328	386	655	148
Net interest income (expense)	54.0	316	349	303	352	227
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−715	−554	−455	−350	−461	0
Net income before taxes	249	28.0	222	340	546	375
Provision for taxes	107	−9.3	67.0	85.2	146	117
Minority interest	0	−2.1	−2.1	−2.4	−1.9	−1.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	142	35.2	153	252	398	256
Extraordinary items	–	–	–	–	–	–
Net income	142	35.2	153	252	398	256
Basic weighted average shares (mil)	93.7	93.7	93.7	93.7	93.8	93.7
Diluted weighted average shares (mil)	93.7	93.7	93.7	93.7	93.8	93.7
Basic EPS, normalized	1.48	0.39	1.60	3.00	4.14	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Wuestenrot & Wuerttembergische AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	595	552	593	576	582	597
Goodwill	–	–	–	–	–	–
Intangibles	129	128	148	137	130	128
Insurance receivables	–	–	–	–	–	–
Long-term investments	78,631	68,914	69,474	64,861	80,034	87,435
Note receivable	1,616	2,343	1,312	1,301	2,427	2,584
Other long-term assets	2,246	978	2,100	2,331	1,348	1,528
Deferred policy acquisition costs	–	–	–	–	–	–
Other assets	678	870	1,014	773	900	1,051
Total assets	85,203	74,817	75,796	71,264	85,502	93,414
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Policy liabilities	67,311	61,829	61,116	56,968	69,406	75,725
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	9,683	5,266	6,351	5,648	5,365	4,926
Minority interest	37.6	34.2	38.0	33.9	32.7	51.9
Other liabilities	2,382	2,618	2,854	3,410	5,191	6,553
Total liabilities	79,413	69,747	70,359	66,060	79,995	87,256
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	576	507	541	525	557	599
Additional paid-in capital	1,170	1,031	1,099	1,066	1,132	1,217
Retained earnings (accumulated deficit)	10,049	7,980	8,440	8,974	3,913	3,858
Treasury stock	–	–	–	–	–	–
Other equity	−6,005	−4,449	−4,644	−5,361	−93.8	485
Total equity	5,789	5,070	5,437	5,204	5,508	6,159
Total liabilities & shareholders' equity	85,203	74,817	75,796	71,264	85,502	93,414

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Wuestenrot & Wuerttembergische AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	142	37.3	155	280	400	257
Depreciation, depletion & amortization	108	114	91.2	80.2	85.8	94.6
Deferred taxes	92.8	−113	−66.4	−38.3	−44.4	−1.3
Non-cash items	849	−183	66.3	727	−1,602	−956
Changes in working capital	−37.6	507	−366	−3,440	255	1,137
Cash from operations	1,155	362	−119	−2,391	−905	531
Investing activities
Capital expenditures	−50.5	−70.4	−77.2	−131	−133	−195
Other investing cash flows	−1,204	2.1	136	2,863	532	−130
Cash from investing	−1,254	−68.3	59.3	2,732	399	−326
Financing activities
Financing cash flow items	329	−262	−21.1	−25.8	315	74.6
Cash dividends paid	−71.6	−63.2	−67.2	−65.2	−69.2	−74.4
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−21.1	−19.7	−20.1	−18.8	−21.5	−25.8
Cash from financing	236	−345	−108	−110	224	−25.6
Foreign exchange effects	–	0	−1.8	3.3	30.1	1.2
Net change in cash	136	−50.7	−170	235	−251	181
Free cash flow	1,104	292	−196	−2,522	−1,038	336

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.