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SCOR SE ADR SCRYY

Morningstar Rating
$2.94 0.00 (0.00%)
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Company Report

Scor Earnings: Strong Profits, but Weaker Solvency; Shares Undervalued

Scor has reported a sound set of earnings for the first 9 months with a net income of EUR 650 million so far and EUR 147 million in the third quarter. That leaves the business already well ahead of our EUR 502 million net income forecast and suggests the business will earn quite a bit above its cost of equity for shareholders. Large losses year to date are below the EUR 950 million full-year budget. Solvency has declined to 206%.

Price vs Fair Value

SCRYY is trading at a 19% discount.
Price
$2.94
Fair Value
$7.93
Uncertainty
High
1-Star Price
$1.63
5-Star Price
$7.95
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Scor holds a significant position in the life reinsurance market worldwide.

Bears

Scor's record of disciplined asset allocation to match its reserves is not good.

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News

Trading Information

Previous Close Price
$2.94
Day Range
$2.922.94
52-Week Range
$2.083.35
Bid/Ask
$2.90 / $4.50
Market Cap
$4.98 Bil
Volume/Avg
45,888 / 13,061

Key Statistics

Price/Earnings (Normalized)
10.33
Price/Sales
0.31
Dividend Yield
5.10%
Dividend Yield (Forward)
5.10%
Total Yield
5.37%

Company Profile

Scor is the world’s fifth-largest reinsurer, selling nonlife and life reinsurance. Scor global life insures life insurance and annuities. This means in its co-insurance agreements Scor shares in premiums and claims of life insurance contracts that have been sold by a primary insurer. In its excess of loss agreements, Scor reimburses a primary insurer for claims that are filed above an agreed amount. Scor also sells property and casualty reinsurance in co-insurance and excess of loss. Historically, Scor has been better in specialist lines and not as good in lines where there is a large potential for loss. Having recently grown in natural catastrophe, standards of underwriting have not been good. The business has subsequently decided to move back to historical roots.
Sector
Financial Services
Industry
Insurance - Reinsurance
Stock Style Box
Mid Value
Total Number of Employees
3,522

Competitors

Valuation

Metric
SCRYY
MUV2
HNR1
Price/Earnings (Normalized)
10.3312.5813.63
Price/Book Value
1.051.952.75
Price/Sales
0.310.981.01
Price/Cash Flow
5.0430.5214.04
Price/Earnings
SCRYY
MUV2
HNR1

Financial Strength

Metric
SCRYY
MUV2
HNR1
Quick Ratio
Current Ratio
Interest Coverage
8.1820.2815.78
Quick Ratio
No chart available

Profitability

Metric
SCRYY
MUV2
HNR1
Return on Assets (Normalized)
1.04%1.57%2.24%
Return on Equity (Normalized)
9.57%18.55%18.60%
Return on Invested Capital (Normalized)
6.68%15.63%13.71%
Return on Assets
SCRYY
MUV2
HNR1

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Economic Moat
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SSREF
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SSREY
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HVRRF
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HVRRY
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EG
Everest Group LtdXfp$16.7 Bil
RGA
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RNR
RenaissanceRe Holdings LtdJtg$10.5 Bil