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SCOR SE
(OTC:SCRYY)
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Rating:75Outperform
Price Target:
$4.50
▲(16.88% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by solid financial performance (strong cash conversion and improved profitability, though with weak revenue growth and historical volatility). Valuation is a meaningful positive (low P/E and high dividend yield). The earnings call was also supportive with reiterated targets and strong ROE/solvency metrics, while technicals are constructive but lack momentum-indicator confirmation.
Positive Factors
Strong cash generation and conversion
Consistently strong cash conversion (FCF ~97% of net income) provides durable internal funding for claim payments, retrocession, dividends and buybacks. Reliable cash flow reduces reliance on external financing and supports capital targets across underwriting cycles.
Negative Factors
Persistently weak revenue growth
Declining top-line trends limit the firm’s ability to scale fixed-cost leverage and restrict premium base expansion. Over time weak revenue growth constrains margin expansion, reduces diversification benefits and makes earnings more dependent on investment and one-off items.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and conversion
Consistently strong cash conversion (FCF ~97% of net income) provides durable internal funding for claim payments, retrocession, dividends and buybacks. Reliable cash flow reduces reliance on external financing and supports capital targets across underwriting cycles.
Read all positive factors
SCOR SE (SCRYY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.19B
Dividend Yield5.68%
Average Volume (3M)121.00
Price to Earnings (P/E)7.5
Beta (1Y)0.56
Revenue Growth1.24%
EPS Growth64.13%
CountryUS
Employees3,610
SectorFinancial
Sector Strength70
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)0.13
Shares Outstanding1,793,899,800
10 Day Avg. Volume0
30 Day Avg. Volume121
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)11.62
Price to Sales (P/S)3.48
P/FCF Ratio52.86
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.48
Revenue Forecast (FY)$17.82B
SCOR SE Business Overview & Revenue Model
Company Description
SCOR SE functions as a prominent global reinsurance provider, offering a comprehensive suite of life and non-life protection solutions. The company boasts a broad international footprint, serving clients across Europe, the Middle East, Africa, the...
How the Company Makes Money
SCOR makes money mainly through (1) underwriting reinsurance contracts and (2) investment income on the assets backing its reinsurance liabilities.
1) Reinsurance underwriting (core revenue):
- Premiums from cedants: SCOR receives reinsurance pre...
SCOR SE Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 30, 2026
Earnings Call Sentiment Positive
The call conveyed a clearly positive operational and financial tone: strong profitability (ROE well above targets), robust solvency and economic value growth, good P&C underwriting performance, sizable alternative solutions expansion and improving investment/ALM metrics. Headwinds include an arbitration one-off charge, ongoing catastrophe events with uncertain final impact, competitive pressure and price decreases in U.S. property cat renewals, modest net underwriting deterioration and reliance on retrocession. On balance the positive operational results and strengthened capital position materially outweigh the localized challenges and one-off items.Positive Updates
Strong Profitability and ROE
Group net income of EUR 409 million for H1 2026; adjusted quarterly net income EUR 188 million. Annualized return on equity of 19% for H1 (18% in the quarter), well above the Forward 2026 target of 12%.
Negative Updates
One-off Arbitration Impact in Life & Health
Negative one-off arbitration impact of EUR 64 million included in H1 Life & Health results; Q2 insurance service result was EUR 49 million and would have been EUR 113 million excluding the arbitration charge.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Profitability and ROE
Group net income of EUR 409 million for H1 2026; adjusted quarterly net income EUR 188 million. Annualized return on equity of 19% for H1 (18% in the quarter), well above the Forward 2026 target of 12%.
Read all positive updates
Company Guidance
The group reiterated its Forward 2026 targets and kept its capital-generation guidance at 3–5% net of the dividend accrual while saying it is well positioned to deliver the plan, highlighting a strong set of metrics: adjusted group net income of EUR 188m in Q2 and EUR 409m in H1 (annualized ROE 19% H1; ROE 18% Q2 vs 12% Forward 2026 target), an estimated solvency ratio of 220% (up 5 pts vs YE‑2025 and stable vs Q1 despite deleveraging), economic value of EUR 9bn (+10.5% H1), P&C combined ratio ~79.5% in Q2 (below 80% H1) with a limited 2‑pp underwriting ratio increase at midyear renewals and P&C treaty growth +3.2% YTD, P&C new-business CSM EUR 255m in Q2 / EUR 978m H1, alternative solutions EGPI +133% YTD (premiums >70% growth), Life & Health insurance‑service result EUR 157m H1 (including a –EUR 64m one‑off arbitration; Q2 ISR EUR 49m or EUR 113m ex‑arbitration) with new‑business CSM EUR 216m, investment metrics regular income yield 3.6%, return on invested assets 3.7%, reinvestment rate 4.3%, and an increased asset duration of 4.4 years (from 4.1).SCOR SE Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
63
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.49B | 14.80B | 15.65B | 15.84B | 16.44B | 15.99B |
| Gross Profit | 12.88B | 13.96B | 14.83B | 15.16B | 12.61B | 12.11B |
| EBITDA | 4.51B | 1.56B | 520.00M | 1.58B | -1.32B | 1.23B |
| Net Income | 819.55M | 851.00M | 4.00M | 812.00M | -1.38B | 456.00M |
Balance Sheet | ||||||
| Total Assets | 36.55B | 36.08B | 37.35B | 35.61B | 34.70B | 47.52B |
| Cash, Cash Equivalents and Short-Term Investments | 2.10B | 2.08B | 2.39B | 1.86B | 1.81B | 2.09B |
| Total Debt | 3.36B | 3.43B | 3.45B | 3.23B | 3.24B | 3.17B |
| Total Liabilities | 30.14B | 31.66B | 32.82B | 30.87B | 30.38B | 41.10B |
| Stockholders Equity | 4.41B | 4.43B | 4.52B | 4.71B | 4.28B | 6.40B |
Cash Flow | ||||||
| Free Cash Flow | 873.77M | 973.02M | 875.00M | 1.45B | 430.00M | 2.32B |
| Operating Cash Flow | 907.10M | 1.01B | 903.00M | 1.48B | 500.00M | 2.41B |
| Investing Cash Flow | -289.38M | -848.15M | -181.00M | -954.00M | -269.00M | -1.54B |
| Financing Cash Flow | -606.47M | -347.71M | -213.00M | -428.00M | -567.00M | -674.00M |
SCOR SE Technical Analysis
Positive
3.85
Price Trends
3.74
Positive
3.67
Positive
3.42
Positive
Market Momentum
0.07
Positive
56.77
Neutral
69.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SCRYY, the sentiment is Positive. The current price of 3.85 is below the 20-day moving average (MA) of 3.92, above the 50-day MA of 3.74, and above the 200-day MA of 3.42, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 56.77 is Neutral, neither overbought nor oversold. The STOCH value of 69.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SCRYY.
SCOR SE Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $3.48B | 6.02 | 21.19% | ― | 17.41% | 57.09% | |
79 Outperform | $13.23B | 5.43 | 22.68% | 0.49% | -14.15% | 48.57% | |
78 Outperform | $14.00B | 7.88 | 12.43% | 2.08% | -5.12% | 146.14% | |
78 Outperform | $16.13B | 10.73 | 11.29% | 1.56% | 19.54% | 97.85% | |
75 Outperform | $7.19B | 7.54 | 18.58% | 5.81% | 1.24% | 64.13% | |
74 Outperform | $2.72B | 5.65 | 21.84% | ― | 22.55% | 371.77% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
SCRYY
SCOR SE
3.94
0.74
23.04%
EG
Everest Group
367.38
37.73
11.44%
RGA
Reinsurance Group
244.42
58.57
31.52%
RNR
Renaissancere Holdings
320.72
78.50
32.41%
SPNT
SiriusPoint
23.55
5.31
29.11%
HG
Hamilton Insurance Group, Ltd. Class B
35.26
13.58
62.64%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.