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    Insurance - Diversified
ageas SA/NV

ageas SA/NV

AGS.BR
ageas SA/NVBE flagEuronext Brussels
64.05
EUR
-2.05
- -
13.18BMarket Cap
ageas SA/NV
AGS.BR
(Euronext Brussels)

Recent

price

64.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
56.07
45.83
61.38
55
61.76
61
61.21
58.71
56.27
73.27
61.57
69.12
26.57
42.9
47.09
48.09
64.23
Revenue per Share
1.47
-2.27
3.13
2.49
2.13
3.57
0.13
3.09
4.11
5.09
6.07
4.52
5.96
5.19
6.1
9.1
0.13
Basic EPS, GAAP
11.97
4.77
8.42
10.41
7.9
-1.96
1.39
-4.1
3.76
1.44
-8.98
-6.49
4.66
-0.64
3.5
13.7
1.39
Free Cash Flow per Basic Share
0.77
0.77
0.82
1.19
1.39
1.53
1.62
2.08
2.05
2.16
2.58
2.6
4.15
2.94
3.18
3.49
- -
Dividend per Share
9.78
6.38
11.73
10.04
9.8
11.26
7.82
10.77
11.75
12.89
14.06
12.57
13.65
8.18
8.19
8.45
7.81
Book Value per Share
30.13
26.29
38.63
34.61
42.24
48.42
43.1
44.8
52.97
63.77
66.75
68.8
35.4
38.22
39.1
37.82
43.05
Tangible Book Value per Share
248
255
237
229
223
216
209
202
197
193
188
187
184
184
183
188
209
Basic Weighted Avg Shares
13,918
11,668
14,574
12,582
13,777
13,148
12,764
11,846
11,073
14,106
11,571
12,909
4,894
7,880
8,637
9,044
13,410
Sales/Revenue/Turnover
3.06
- -
10.46
7.89
5.76
8.87
3.41
- -
- -
- -
- -
- -
- -
- -
- -
- -
3.24
Operating Margin (%)
607
687
799
800
951
749
749
743
675
654
854
833
389
342
310
357
749
Depreciation Expense
364
-578
743
570
476
770
27
623
809
979
1,141
845
1,097
953
1,118
1,712
27
Net Income, GAAP
- -
- -
26.73
24.64
17.3
19.39
48.75
23.3
20.23
17.79
15.2
17.47
13.77
17.58
16.89
12.06
48.75
Effective Tax Rate (%)
2.61
-4.96
5.1
4.53
3.45
5.86
0.21
5.26
7.31
6.94
9.86
6.55
22.42
12.09
12.94
18.93
0.2
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
5,618
5,697
4,231
3,508
3,887
4,285
3,702
3,551
3,480
4,906
4,709
4,732
4,443
4,585
4,749
7,127
3,702
LT Debt
9,166
8,287
10,671
9,330
10,912
11,975
10,205
10,162
11,520
13,481
13,774
14,172
7,936
8,499
8,797
11,503
10,205
Total Equity
- -
- -
7.28
4.86
4.28
5.44
1.33
- -
- -
- -
- -
- -
- -
- -
- -
- -
1.45
Return on Invested Capital (%)
- -
- -
9.06
7.25
5.98
9.96
-1.62
7.7
9.82
9.88
11.26
8.23
12.08
12.67
16.11
19.55
-1.42
Return on Capital (%)
29.98
-28.54
33.69
22.41
21.22
33.41
1.34
32.78
36.09
40.86
44.54
33.87
45.14
47.47
74.43
110.74
1.34
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'16
Sep'16
Dec'16
ST Debt
- -
- -
- -
LT Borrowings
3,698
3,718
3,682
LT Finance Leases
21
20
20
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
208
207
205
Market Capitalization
6,540
6,779
7,852

Working Capital

FRC

•

in mil. unless spec.
Jun'16
Sep'16
Dec'16
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
64,907
65,460
63,778
Accounts Receivable, Net
2,299
2,218
600
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.76%
0.05%
30.76%
Free Cash Flow
-216.75%
-131.12%
301.25%
Net Income, GAAP
223.17%
12.24%
53.13%
Sales/Revenue/Turnover
1.76%
4.96%
4.71%
Total Cash Common Dividend
- -
- -
12.5%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
7,880
2024
- -
- -
- -
- -
8,637
2025
- -
- -
- -
- -
9,044

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
5.19
2024
- -
- -
- -
- -
6.1
2025
- -
- -
- -
- -
9.1

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
2.94
2024
- -
- -
- -
- -
3.18
2025
- -
- -
- -
- -
3.49
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Business
ageas SA/NV is a multinational insurance group headquartered in Brussels, Belgium, with roots tracing back to 1824 through its core Belgian operations in AG Insurance. The company provides a broad range of life and non-life insurance products and services to individuals, small and medium-sized enterprises, and corporate clients; these include savings and protection life insurance, employee benefits, property and casualty coverage such as motor, home, and travel insurance, health and disability policies, and reinsurance solutions. ageas operates primarily in Europe and Asia across segments including Belgium, other European markets like the United Kingdom, Portugal, and Turkey, and Asian countries such as Hong Kong, Malaysia, Thailand, the Philippines, Vietnam, China, and India, often through strategic joint ventures and partnerships including AG Insurance in Belgium (75% owned), Ageas UK, Ageas Portugal, Ageas Federal Life in India (74% stake), Maybank Ageas Holdings in Malaysia and Singapore (31% stake), and Muang Thai in Thailand. In recent developments, ageas completed the acquisition of Saga's underwriting business, Acromas Insurance Company Limited (AICL), in June 2025 as part of a 20-year distribution partnership with Saga Services Limited to offer personal lines motor and home insurance targeted at customers over 50 in the United Kingdom; additionally, the company finalized the acquisition of esure from Bain Capital in 2025 for approximately 1.3 billion pounds, further strengthening its UK personal lines insurance position. These transactions align with ageas's Elevate27 strategy, emphasizing growth in non-life insurance, expansion into ageing demographics, and leveraging its presence in 13 to 16 countries with around 50,000 employees.