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RenaissanceRe Holdings Ltd.

RNR Financial Insurance Reinsurance

RenaissanceRe Holdings Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $12.8 billion, up 9.86% from fiscal 2024.

Revenue
−47.1%
EPS
−120.7%
Free cash flow
−49.8%
Total debt
+4.60%

Quarter to September 2026, against a year earlier

352.36 1.30 −0.37%
Market cap
$14.3B
P/E
10.1×
Fwd P/E
11.8×
Dividend yield
0.46%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

RenaissanceRe Holdings Ltd. (RNR) valuation and DCF model

What the price implies · reverse DCF

At $352.36 the price implies 38.4% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 2.6% a year over the last ten years, 2.1% over the last five. The price asks for more than four times its ten-year rate. Return on equity averaged 9.6% over ten years; the price implies 10.6% for good.

In December 2017 the price assumed 27.1% a year; RenaissanceRe Holdings Ltd. went on to grow the dividend a share 17.4% a year to FY2025.

Price implies
38.4%
Last 5 years, reported
2.1%
Last 10 years, reported
2.6%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
38.4% a year for ten years
$352.36
today’s price
Its base case
2.6% a year for five years, then 1.6%
$24.93
92.9% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record RenaissanceRe Holdings Ltd.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 38.4% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against RenaissanceRe Holdings Ltd.’s own cost of capital: risk-free 4.3% + beta 0.13 × equity premium 4.5% = 4.9% cost of equity; after-tax cost of debt 5.0%; weighted, 4.9%.

Use 4.9%
Base case value per share $24.93 ten years discounted, and what follows
Current price $352.36 market price per share
Below today’s price 92.9% downside at the base case’s assumptions

How we got there$11.65 10 years of dividends+$13.28 terminal value=$24.93 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Reinsurance).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 10.08× 7.35× 10.96× 8% below 9.37× 8% above
P/FCF 5.04× 4.32× 4.50× 12% above 5.79× 13% below
P/B 1.34× 1.33× 1.32× 2% above 1.17× 15% above
EV/EBITDA — 5.17× 7.34× — 3.38× —
EV/Sales — 1.23× 1.78× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
3.31×4.31×5.30×6.29×10Y avg 4.50×2017201820192020202120222023202420252026

RNR trades at 5.04× P/FCF, against a 10-year average of 4.50× (range 3.06×–6.47×). That is dearer than 89% of the last 9 year-end readings; re-rating to the average implies $314.72 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.