Tryg A/S

Tryg A/S

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Market Cap$1.98B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Tryg A/STryg A/S195.66%---

Earnings Call Q3 2026

October 9, 2026 - AI Summary

Strong Q3 profitability + resilient underwriting: Revenue grew +4.1% in DKK (+2.3% in local currencies). The insurance service result was DKK 2.454bn, driven by an excellent combined ratio of 76.8 (large + weather claims below normalized expectations). Underlying claims ratio improved by 60 bps in the quarter (improvement higher in private, slightly lower in commercial). Operating EPS: DKK 2.96; ROOF: 47%. - Good/surprising: Combined ratio performance supported by *large and weather claims both better than guidance expectations*, including a very strong Norway combined ratio (76.1%)—best reported in last 10 years.
Investment result muted/variable but considered acceptable; property de-risking continues: Total invested assets DKK 58.5bn. Q3 investment result DKK 42m: free portfolio slightly negative to market due to higher rates, while the match portfolio was very positive. Continued de-risking: property exposure reduced to DKK 1.9bn (from DKK 3.3bn announced with the strategy), with proceeds reinvested in covered bonds. - Bad: Net mark-to-market pressure in the free portfolio from rising interest rates. - Good: Conservative asset mix and match portfolio effectiveness limited the downside.
Outlook unchanged for 2026; expects 2027 revenue pickup but with “less improvement” in underwriting: Management kept 2026 revenue growth outlook at ~3% (and ambition for improved growth into 2027). They expect underlying claims ratio to be stable to slightly improving, but improvements will likely dampen as revenue growth picks up in 2027 (to maintain balanced earnings growth). - Challenge: Seasonality—Norway P&C is entering the more difficult period (autumn/winter), so current Q3-like performance may not repeat in Q4/Q1.

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$42.85

Current Fair Value

94.8% upside

Undervalued by 94.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$1.98 Billion
Enterprise Value-
Dividend Yield$1.31 (5.66%)
Earnings per Share$8.83
Beta0.1
Outstanding Shares90,095,544

Return

Return on EquityNaN%ROE
Return on AssetsNaN%
Return on Invested CapitalNaN%

Valuation & Multiples

P/E Ratio18.99P/E Ratio
PEG192.37PEG
Price to Sales0.04Price to Sales
Price to Book Ratio-Price to Book Ratio
Enterprise Value to Revenue-
Enterprise Value to EBIT-
Enterprise Value to Net Income-
Total Debt to Enterprise-
Debt to Equity-Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
October 9, 2026
EPS Estimate
$0.36
Average shareholder expectation
Revenue Estimate
$1.62 B
Average shareholder expectation

Next Earnings Call

Expected Date
January 22, 2027
EPS Estimate
$0.33
Average shareholder expectation
Revenue Estimate
$1.61 B
Average shareholder expectation

Institutional Sentiment (Put/Call)

No data available for the latest quarter.

Institutional Ownership

No data available for the latest quarter.

ESG Score

No data

About Tryg A/S

6,758 employees
CEO: Johan Kirstein Brammer

Tryg A/S, operating through its various subsidiaries, delivers comprehensive insurance solutions to individuals, corporate clients, and small to medium-sized enterprises (SMEs) across Denmark, Norway, and Sweden. The company organizes it...