Rankings Financial data & insurance broking Storebrand
Storebrand
83
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history−6
- Return on capital−2
- Peers−2
Strengths
- Dividend and buybacks+3
- Insurance growth+1
How the score is built
From 100 to 83, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 194.40 NOK
- Median analyst target
- 218.50 NOK
- Upside to median
- +12.4%
- Analysts
- 10
- Target range
- 143.00 – 245.00 NOK
- 52-week change
- +23%
- P/E (trailing)
- 18.3
- Forward P/E
- 15.2
- PEG
- 1.54
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 2 findings−3 of −30
- −2Return on capitalROE 15.2% (TTM) and a target of only 17% in 2028, vs 27–31% at the Norwegian P&C insurers Gjensidige and Protector; a capital-heavy life and pension balance sheet with guaranteed products.
- −1Quality of growthSegment income grew about 5% (TTM DKK 19.2bn vs 18.3bn in 2025), but analysts expect only 6% EPS growth in 2026 and about 10% a year over three years; part of the AUM growth (+10%) is market-driven.
Price
Today's multiples against the company's own history and its peers. · 2 findings−8 of −35
- −6Multiples vs own historyP/B 2.50 vs 1.10–2.18 in 2021–2025 (a record), trailing P/E 17.0 vs 9.6–16.8 and forward P/E 15.5 vs 9.2–15.5 (the top). Market value has doubled since 2023 (DKK 40bn → 81bn), while EPS has risen from DKK 7.31 to 11.44.
- −2PeersThe forward P/E of 15.5 is in line with Sampo (15.0) and Gjensidige (15.2), which have markedly higher ROE (24–27%); the price is at analysts' average target (DKK 198).
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 2 findings−3 of −35
- −2Market sensitivityThe Q2 group profit of DKK 1,799m includes about DKK 680m on top of the operating profit of 1,119m (financial items and risk result), and fees follow AUM; solvency fell from 206% to 200% because of the symmetric equity adjustment.
- −1Guaranteed products and regulationNew rules for flexible guarantees from 1 July 2026 are expected to trigger customer outflows of about DKK 13bn from hybrid and guaranteed products; the interest-rate risk in the guaranteed book remains.
Plus
Only documented strengths. · 2 findings+4 of +15
- +3Dividend and buybacksDividend of DKK 5.40 (about 2.3bn) plus buybacks of DKK 2bn in 2026 (1bn in H1, 1bn in H2) = about 4.3bn, below net profit of 4.85bn (TTM); share count −2.3% in a year and a target of at least DKK 12bn of buybacks up to 2030 (solvency 200% vs a threshold of 175%).
- +1Insurance growthThe insurance result rose to DKK 480m from 289m in Q2, premiums grew 12%, and unit-linked reserves 19%; operating profit +17%.
Caveats
What the score does not capture, or where the data is weak.
Life and pension insurance: stockanalysis' revenue, EBITDA, EV and ROIC are distorted by customer funds and investment returns on behalf of policyholders (revenue DKK 108bn TTM); valued on P/B and P/E, and payouts are measured against net income. Analyst price targets range from DKK 142 to 245. The Swedish business (SPP) and the Knif Trygghet acquisition have not been examined separately.
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