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Aegon NV

AEG Financial Insurance Diversified

Aegon NV’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, down 7.24% from fiscal 2024. Dividend growth for five consecutive years.

8.32 0.05 +0.60%
Market cap
$12.2B
P/E
0.0×
Fwd P/E
8.9×
Dividend yield
5.86%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 33.73%

Capital & Financial Ratios $m

Market Cap 12,210.00
Revenue 18,446.87
Net Income 832.54
Free Cash Flow 2,808.77
Net Debt 253.47
Current Ratio 0.12
Debt/Equity 0.42
P/E ratio 0.00
Fwd P/E 8.86
P/S ratio 1.01
P/B ratio 1.78
Past 5Y EPS Growth 96.38% (at or above 15%: strong)
This Y EPS Growth 65.02% (at or above 15%: strong)
Next Y EPS Growth (4.23%) (below 0%: weak)
Next Y revenue growth (50.49%) (below 0%: weak)
Next 5Y EPS Growth 18.90% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 96.31%
10-year low 10-year high
P/B against its own 10 years 96.90%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 0.49
Annual Dividend Yield 5.86%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.30
0.24
0.25
2025 0.30
0.22
0.22
2024 0.35
0.17
0.18
2023 0.28
0.13
0.15
2022 0.21
0.10
0.11
2021 0.17
0.07
0.09
2020 0.18
0.17
0.01
2019 0.33
0.17
0.17
2018 0.33
0.16
0.16
2017 0.44
0.15
0.14
0.15
2016 0.29
0.15
0.15
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,409 3,754 3,092 4,087
Receivables 17,975 17,336 19,407 20,201
Inventory — — — —
Other — — — —
22,384 21,090 22,499 24,288
2023 2024 2025 Q'26
Payables 296,881 327,184 333,946 208,433
ST’ Debt — — — —
Other — — — —
297,236 327,543 334,289 208,433

Compound Annual Growth %

10y 5y 3y
Sales (9.37%) (15.01%) (16.69%)
Cash Flow (7.00%) 0.00% (45.32%)
Earnings 2.86% 0.00% 0.00%
Book Value (9.92%) (17.54%) (10.43%)

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 12,996
’24 — — — — 14,011
’23 — 3,498 — — 14,177
’22 7,525 6,585 6,198 2,165 22,474
’21 8,108 7,479 6,858 7,380 29,825
’20 — 14,336 — 12,702 29,308
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — 1,356 — — —
’25 — (200) — — 491
’24 — 697 — — 825
’23 — — — — 935
’22 77 1,608 277 1,041 3,004
’21 (1,776) 158 (1,169) 663 (2,125)
’20 — (873) — (2,384) (3,260)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — 1,324 — — —
’25 — (233) — — 436
’24 — 669 — — 775
’23 — 8 — — 863
’22 50 1,583 261 1,016 2,910
’21 (1,799) 134 (1,201) 612 (2,255)
’20 — (919) — (2,384) (3,386)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 0.58
’24 — — — — 0.40
’23 — 0.03 — — (0.13)
’22 0.23 (0.20) (0.10) (0.52) (0.77)
’21 0.22 0.48 (0.05) 0.23 0.92
’20 — 0.11 — (0.21) 0.02
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 3.36 4.73 4.42 3.69 1.80 3.85 3.76 4.02 5.53 5.42

Analyst estimates 2026–2028

Powerpack
High 6.09 6.35 7.48 5.43 4.60 5.29 6.22 5.83 6.96 8.15
People
People Employees 29,380 28,318 26,543 23,757 22,322 22,000 19,087 15,658 15,582 15,304
Revenue/emp, $m 1.27 1.32 1.29 1.33 1.31 1.36 1.18 0.91 0.90 0.85
Income, $m
Income, $m Revenue 37,243 37,269 34,147 31,581 29,308 29,825 22,474 14,177 14,011 12,996
Gross margin, % (53.03) (66.67) 32.75 (131.88) (97.58) (103.71) 142.35 100.00 100.00 100.00
EBT 675 2,864 887 1,632 (416) 2,839 (1,626) (423) 714 1,182
EBT margin, % 1.81 7.69 2.60 5.17 (1.42) 9.52 (7.23) (2.98) 5.10 9.10
Net income 675 2,864 887 1,632 (416) 2,839 (971) (374) 714 1,182
Depreciation 1,337 883 1,553 1,327 825 1,381 1,222 (176) (34) (189)
Per share, $
Per share, $ Revenue 14.20 14.24 13.10 12.08 11.25 11.46 8.83 7.49 6.97 6.85
Earnings 0.24 1.07 1.36 0.53 0.02 0.92 (0.77) (0.13) 0.40 0.58
Cash flow 1.40 0.24 0.23 3.13 (1.25) (0.82) 1.18 0.49 0.41 0.26
Capex (0.04) (0.04) (0.05) (0.04) (0.05) (0.05) (0.04) (0.04) (0.02) (0.03)
Free cash flow 1.36 0.20 0.19 3.09 (1.30) (0.87) 1.14 0.46 0.39 0.23
Book value 10.27 10.41 10.22 10.47 10.81 11.99 5.87 5.47 5.01 5.66
Shares, m 2,623 2,617 2,607 2,614 2,605 2,602 2,546 1,892 2,010 1,898
Valuation, ×
Valuation, × P/E 22.64 5.95 4.48 3.53 6.79 5.61 0.00 0.00 0.00 0.00
P/S 0.40 0.45 0.28 0.22 0.18 0.43 0.57 0.69 0.71 0.93
P/B 0.55 0.61 0.55 0.48 0.38 0.41 0.86 1.15 1.42 1.62
EV/Sales 0.47 0.56 0.41 0.16 0.24 0.63 0.71 0.78 0.75 0.99
EV/FCF 4.93 40.42 3.88 0.85 2.67 (8.31) 5.48 3.59 3.88 10.55
Cash, $m
Cash, $m Operating cash flow 3,673 625 611 8,178 (3,260) (2,125) 3,004 935 825 491
Capex (97) (113) (126) (94) (126) (130) (94) (73) (50) (55)
Free cash flow 3,575 512 484 8,084 (3,386) (2,255) 2,910 863 775 436
Balance, $m
Balance, $m Working capital (356,907) (333,124) (356,295) (379,581) (392,329) (441,012) (268,366) (274,852) (306,453) (311,790)
Total debt 15,404 16,275 15,884 12,896 12,119 14,026 6,686 4,979 5,049 3,895
Net debt 2,847 4,104 5,558 (839) 2,555 5,875 3,097 569 1,295 803
Shareholders’ equity 26,936 27,242 26,652 27,374 28,170 31,201 14,951 10,340 10,078 10,743
Returns, %
Returns, % ROA 0.07 0.58 0.15 0.27 (0.04) 0.43 (0.32) (0.07) 0.19 0.29
ROIC 3.85 6.98 3.48 5.09 0.92 4.97 (5.04) 1.02 5.45 26.46
ROE 1.17 9.76 2.62 4.77 (0.76) 7.74 (6.71) (1.94) 6.48 10.05
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2023

Charts ten years each

Aegon NV vs peers in Insurance Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AIG American International Group, Inc. $41.4B 14.7× 11.0× −0.08% (below 0%: shrinking) −10.50% (below 0%: shrinking) +23.36% (above 0%: growing) 32.04% 19.25% Compare
HIG The Hartford Insurance Group, Inc. $36.0B 8.7× 10.0× +8.14% (above 0%: growing) +35.53% (above 0%: growing) +4.24% (above 0%: growing) 43.81% 17.64% Compare
ACGL Arch Capital Group Ltd. $33.9B 7.8× 9.1× −10.45% (below 0%: shrinking) −7.58% (below 0%: shrinking) +17.63% (above 0%: growing) 37.57% 25.90% Compare
AEG Aegon NV $12.2B — (loss-making) 8.9× −53.52% (below 0%: shrinking) −86.85% (below 0%: shrinking) +30.41% (above 0%: growing) 14.93% (11.60%)
BNT Brookfield Wealth Solutions Ltd. $10.9B 42.5× — +38.85% (above 0%: growing) −80.05% (below 0%: shrinking) +154.51% (above 0%: growing) 26.99% 10.58% Compare
PLGO Pelagos Insurance Capital Limited $2.1B 6.1× 5.8× +10.30% (above 0%: growing) +194.44% (above 0%: growing) +92.57% (above 0%: growing) 15.54% 10.68% Compare
XZO Exzeo Group, Inc. $1.5B 17.0× 13.1× +3.02% (above 0%: growing) −5.49% (below 0%: shrinking) −59.20% (below 0%: shrinking) 63.75% 49.26% Compare
IGIC International General Insurance Holdings Ltd. $1.0B 9.9× 8.3× +8.70% (above 0%: growing) −36.36% (below 0%: shrinking) −54.63% (below 0%: shrinking) 23.60% 4.88% Compare
WDH Waterdrop Inc. Unsponsored ADR $283.5M 4.8× 6.5× +82.47% (above 0%: growing) 0.00% +117.24% (above 0%: growing) 62.90% 7.68% Compare
Median of peers $6.5B 9.3× 9.1× +8.42% −6.53% +20.50% 34.80% 14.16%

All 11 Insurance Diversified stocks →

Aegon NV (AEG) key facts

  • Concern: Aegon NV’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, down 7.24% from fiscal 2024.
  • Aegon NV (AEG) is an Insurance Diversified company in the Financial sector, traded in the US as an ADR.
  • As of October 16, 2026, AEG traded at $8.32, a market capitalization of $12.2 billion.
  • Aegon NV pays an annual dividend of $0.49 per share, a yield of 5.86%.
  • Return on equity was 10.1% and debt-to-equity 0.42.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Aegon NV (AEG) Latest News

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stockrow.com/AEG · Data as of Jun 30, 2023 · For information only; not investment advice. · © 2026 stockrow.com