Aegon NV (AEG) vs Waterdrop Inc. Unsponsored ADR (WDH)

Aegon NV and Waterdrop Inc. Unsponsored ADR are both Insurance Diversified companies. Aegon NV is the larger, with a market value of $13.1B against $286.3M — 45.8× the size. Aegon NV has negative trailing earnings, so its P/E is not meaningful; Waterdrop Inc. Unsponsored ADR trades at 5.0×. Waterdrop Inc. Unsponsored ADR grew revenue faster over the last twelve months: 80.9% against −36.9%. Waterdrop Inc. Unsponsored ADR has the higher net margin (10.8% vs −10.3%) and the higher return on invested capital (6.46% vs 0.00%). Across the 18 metrics below, Waterdrop Inc. Unsponsored ADR leads on 17 and Aegon NV on 1.

Valuation

Metric AEG WDH Insurance Diversified median
P/E n/m 4.95 11.30
P/S 1.08 0.50 1.47
P/B 1.90 0.48 1.45
Price to free cash flow 6.79 1.66 5.78
EV/EBITDA n/m 2.49 6.62
EV/Sales 1.09 0.19 1.82
Earnings yield (8.91%) 20.19% 7.87%
Free cash flow yield 14.73% 60.39% 17.30%

Profitability

Metric AEG WDH Insurance Diversified median
Gross margin 119.87% 57.13% 53.26%
Operating margin (12.33%) 7.68% 18.04%
Net margin (10.34%) 10.75% 15.94%
Free cash flow margin 0.00% 0.00% 20.02%
Return on equity 0.00% 10.75% 12.08%
Return on assets 0.00% 7.69% 5.06%
Return on invested capital 0.00% 6.46% 9.01%

Growth

Metric AEG WDH Insurance Diversified median
Revenue growth (TTM) (36.92%) 80.88% (1.11%)
EPS growth (last fiscal year) 46.05% 70.28% —
Revenue growth, 5-year CAGR (15.01%) 4.16% 8.63%
Net income growth, 5-year CAGR 0.00% 0.00% 10.84%

Health

Metric AEG WDH Insurance Diversified median
Debt to equity 0.42 0.09 0.22
Current ratio 0.12 2.19 0.48
Net debt to EBITDA 0.17 (4.16) 0.17

Dividend

Metric AEG WDH Insurance Diversified median
Dividend yield 5.67% — 2.08%
Payout ratio 0.66 0.00 0.02

Size

Metric AEG WDH Insurance Diversified median
Market cap 13.12b 286.30m 13.12b

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