Aegon (AEG) AI Stock Analysis

• Market Cap: $12.69B
• Dividend Yield: 5.51%
• Average Volume (3M): 5.24M
• Price to Earnings (P/E): 8.8
• Beta (1Y): 1.03
• Revenue Growth: -6.19%
• EPS Growth: N/A
• Country: US
• Employees: 15,582
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 1,652,797,500
• 10 Day Avg. Volume: 5,866,297
• 30 Day Avg. Volume: 5,244,018
• PEG Ratio: -0.04
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 16.08
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.92
• Revenue Forecast (FY): $18.54B

• Rating: 69 Neutral
• Price Target: $8.00 ▲(1.78% Upside)

Aegon's overall stock score is driven by strong technical indicators and positive earnings call highlights, including strategic growth initiatives and solid operating results. Financial performance shows a recovery path, though challenges in revenue volatility and equity retention remain. Valuation is attractive with a reasonable P/E ratio and high dividend yield.

Positive Factors

Revenue Growth

Aegon's 19% increase in operating results indicates strong revenue growth driven by profitable business expansion and improved claims experience, supporting long-term financial stability.

Cash Flow Generation

The significant increase in free cash flow reflects Aegon's ability to generate cash efficiently, enhancing its capacity to invest in growth and return capital to shareholders.

Strategic Initiatives

Aegon's increased dividend and expanded share buyback program demonstrate a commitment to returning value to shareholders and confidence in future cash flow generation.

Negative Factors

Revenue Volatility

Revenue volatility poses a risk to Aegon's financial predictability, potentially impacting long-term planning and investor confidence despite recent recovery.

Equity Retention

The decline in stockholders' equity suggests potential pressure on Aegon's financial stability, limiting its ability to leverage equity for growth and investment.

Solvency Ratio

A decrease in the solvency ratio indicates reduced financial resilience, potentially affecting Aegon's ability to withstand economic downturns or financial stress.

Aegon Business Overview & Revenue Model

Company Description

Aegon N.V. is a multinational life insurance, pensions, and asset management company headquartered in The Hague, Netherlands. The company operates in various sectors, primarily focusing on providing financial services including life insurance, retirement solutions, and investment management. Aegon's core products include individual and group life insurance, annuities, pensions, and various investment products tailored to meet the needs of both individual and institutional clients across its global market presence.

How the Company Makes Money

Aegon generates revenue through several key streams. The primary source is the premiums collected from life insurance policies and annuities, which contribute significantly to its income. Additionally, the company earns money through investment management fees from its asset management division, where it manages investments for both retail and institutional clients. Aegon also benefits from fees related to pension products and services. Significant partnerships with financial institutions and distribution networks enhance its reach and customer base, further contributing to its earnings. Overall, the combination of these revenue streams, along with prudent investment strategies, positions Aegon to achieve sustainable profitability.

Aegon Financial Statement Overview

Summary

Aegon shows signs of recovery with improved profitability and a stable balance sheet. Despite challenges in revenue volatility and equity retention, the company demonstrates positive cash flow conversion and reduced net debt.

Income Statement

Aegon's income statement shows signs of recovery with a significant positive swing in net income from a loss in previous years to a profit in 2024. The gross profit margin remains consistent as total revenue equals gross profit, indicating no direct costs of goods sold. However, revenue has been volatile, with a sharp decline in recent years followed by a recovery. The net profit margin improved from negative to a positive 3.52% in 2024.

Balance Sheet

The balance sheet reflects a moderate financial structure with a debt-to-equity ratio of 0.54 in 2024, indicating reasonable leverage. However, stockholders' equity has seen a decline over the years, suggesting potential pressure on financial stability. The equity ratio is at 2.81%, highlighting a low proportion of equity financing relative to assets.

Cash Flow

Cash flow analysis shows a positive trend in free cash flow, despite a decline in operating cash flow from 2023 to 2024. The free cash flow to net income ratio is favorable, suggesting effective cash conversion. However, the operating cash flow to net income ratio is at 1.11, indicating room for improvement in operational efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.95B	19.52B	12.98B	-21.64B	46.50B	40.65B
Gross Profit	22.95B	19.52B	2.37B	14.29B	46.50B	40.65B
EBITDA	-5.59B	635.00M	-204.00M	1.00B	2.58B	169.00M
Net Income	1.30B	688.00M	-179.00M	-570.00M	1.98B	45.00M
Balance Sheet
Total Assets	310.63B	327.39B	301.58B	401.79B	468.25B	443.81B
Cash, Cash Equivalents and Short-Term Investments	53.68B	58.18B	4.07B	64.31B	108.25B	109.00B
Total Debt	4.27B	5.00B	4.92B	6.67B	12.23B	11.07B
Total Liabilities	301.25B	318.08B	292.03B	387.60B	441.88B	419.15B
Stockholders Equity	9.26B	9.19B	7.55B	10.76B	26.18B	24.59B
Cash Flow
Free Cash Flow	-116.00M	711.00M	799.00M	2.75B	-1.91B	-2.97B
Operating Cash Flow	-61.00M	762.00M	864.00M	2.85B	-1.80B	-2.85B
Investing Cash Flow	447.00M	300.00M	-2.00B	616.00M	-54.00M	-139.00M
Financing Cash Flow	-1.48B	-1.75B	-3.24B	-1.83B	300.00M	-778.00M

Aegon Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEG, the sentiment is Positive. The current price of 7.86 is above the 20-day moving average (MA) of 7.64, above the 50-day MA of 7.68, and above the 200-day MA of 6.91, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 66.65 is Neutral, neither overbought nor oversold. The STOCH value of 78.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AEG.

Aegon Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HIG	82 Outperform	$38.18B	11.19	20.07%	1.52%	7.11%	22.52%
ACGL	79 Outperform	$34.23B	8.83	17.81%	―	16.68%	-28.54%
PFG	73 Outperform	$18.63B	12.35	13.74%	3.67%	12.33%	―
AEG	69 Neutral	$12.69B	8.85	14.42%	5.51%	-6.19%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
AIG	59 Neutral	$41.09B	13.65	7.68%	2.11%	-23.02%	52.43%
EQH	40 Underperform	$13.38B	―	-41.33%	2.24%	7.70%	-155.12%

Aegon Corporate Events

Aegon Ltd. Reports Strong Q3 2025 Results and Strategic Growth

Aegon Ltd. reported a strong third quarter in 2025, with an operating capital generation of EUR 340 million and cash capital at holding of EUR 1.9 billion. The company successfully sold 12.5 million shares in a.s.r. for EUR 700 million and is on track to meet its financial targets for the year. Despite net outflows in its UK platform business, Aegon saw significant growth in its US Strategic Assets, with a 39% increase in Individual Life sales and expanded market share in the World Financial Group. The company remains well-capitalized and anticipates further strategic updates at its upcoming Capital Markets Day.

Aegon Announces Board Leadership Changes Effective November 2025

On November 3, 2025, Aegon announced changes to its Board of Directors, with David Herzog set to succeed William Connelly as Chairman on November 13, 2025. Connelly will retire from his position on the same date. Additionally, Aegon plans to propose Leni Boeren as a new board member at the 2026 Annual General Meeting. Boeren brings extensive experience from her roles in the financial services industry, including positions at Kempen Capital Management and Robeco Groep. These changes are expected to support Aegon’s strategic goals and ongoing transformation efforts.

Aegon Announces Sale of 12.5 Million Shares in a.s.r.

On September 2, 2025, Aegon Ltd. announced its intention to sell approximately 12.5 million ordinary shares in ASR Nederland N.V., representing about 6% of a.s.r.’s share capital. This sale will be conducted through an accelerated bookbuild offering to qualified institutional investors. Following the sale, Aegon’s stake in a.s.r. will decrease from 29.96% to around 24%, although Aegon will remain the largest shareholder and continue to support a.s.r.’s strategy. The proceeds from the sale will be managed under Aegon’s capital management framework, with a commitment to reduce its Cash Capital at Holding to around EUR 1.0 billion by the end of 2026.