Hannover Rück stock: fair value
HNR1.DEThe fair value of Hannover Rück under our model is $345.41, the price is 5% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $246.72 and expensive above $575.68 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $486.33 (excess return model) and $204.48 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 7.1%. At 8.1% the fair value would be $304.88, at 6.1% it would be $406.20.
Where the number comes from
Half from the excess return model, half from earnings times the industry P/E (8.4).
Excess return model for banks and insurers: book value plus the value of returns above the cost of equity of 7.1% (floor: government bond yield 2.1% plus 5 percentage points, since beta 0.86 times the risk premium would give less).
Calculate with your own assumptionsThe calculation step by step
With these figures the excess return model arrives at $486.33 per share: book value plus the value of what the company earns above its cost of equity over time. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Step | Value |
|---|---|
| Book value per share | $136.26 |
| Stable earnings per share (analyst estimates) | $27.23 |
| Return on equity in the model (stable earnings divided by book value) | 20.0% |
| Cost of equity | 7.1% |
| Excess return per share: (return − cost) × book value | $17.50 |
| Terminal value of excess returns: excess return / (7.1% − 2.1%) | $350.08 |
| Value per share (book value plus terminal value) | $486.33 |
| Earnings per share, last twelve months | $24.26 |
| × 8.4 (industry P/E) | $204.48 |
| Fair value (average of both parts) | $345.41 |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 12 Sep 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.